In today's world flooded with artificial products, natural treasures like pearls stand out for their rarity and enduring value, cultivated sustainably and with generational expertise. Graded for size and luster, pearls symbolize prosperity and purity, appreciating over time due to limited supply and rising demand. Investing in pearl jewelry offers both aesthetic appeal and potential financial rewards.
For five decades, Robert Wan has been a stalwart in pearl cultivation, a beacon of innovation and resilience amidst the shifting tides of the industry. In an exclusive interview, Mr. Robert Wan, the visionary behind his namesake brand, provides insights into the present condition of the pearl sector, discussing its hurdles and prospects.
The pearl market was valued at USD 10.5 billion in 2022, and it is projected to soar to USD 25 billion by 2030 as per Zion Market Research study.The exports of raw black pearls, which account for more than half of local product exports in French Polynesia, brought in USD 150 million in 2023 (+182 percent compared to 2022) according to IEOM. Historical buyers of Tahitian pearls, Hong Kong and Japan remain the top two customers in 2022: Together, they account for 92 percent of the pearls exported, followed by the United States. "While the United States and Japan have traditionally been our mainstays, the rise of Asian economies, particularly China, has ushered in a new era of demand” explains Robert Wan.
During our visit to the Robert Wan Pearl Museum in Papeete, Richard Wan, manager of Wan Group boutiques, kindly explained the process of creation of the French Polynesia's black pearl. “It starts with nurturing black-lipped pearl oysters in the region's pristine lagoons. After two to three years, skilled divers collect and carefully graft the oysters, stimulating pearl formation. Over time, layers of nacre develop around the nucleus, resulting in the pearl's formation. After two additional years, pearls are harvested, cleaned, sorted, and crafted into exquisite jewelry, highlighting their distinctive allure.”
Celebrating its 50th anniversary, Wan provides a compelling narrative of the pearl market's evolution. From its humble beginnings in 1973 to its current prominence on the shores of Marutea, Robert Wan's journey is one of resilience and adaptation. It began in Gambier before expanding to Marutea in 1984. "In 2006, our production soared to a staggering 4 million pearls, a testament to our commitment to excellence" says Wan. However, he acknowledges the challenges of recent years, noting a decline in production to around 600,000 large-sized pearls by 2023, emphasizing the imperative of quality over quantity in today's market.
In a candid exchange, M. Bruno Wan, Director of Robert Wan, discusses the industry's resilience in adversity. Bruno Wan reflects on COVID-19's impact, emphasizing the company's adaptability. Despite challenges, Wan remains committed to sustainability, exemplified through educational initiatives and community engagement, showcasing Wan's dedication to environmental stewardship and cultural preservation.
As the interview draws to a close, Wan extends a warm invitation to Newsweek readers, welcoming them to explore the enchanting shores of French Polynesia and immerse themselves in its rich tapestry of culture and natural beauty. "Come, let the allure of pearls guide you on a journey where luxury meets sustainability."
