5th OSMIUM SYMPOSIUM - Local
22nd – 24th of March 2023, São Paulo - Brazil
Once a year, the heads of the Osmium Institutes meet under the eyes of the press. The fifth international meeting took place in São Paulo, Brazil, with the objective to establish an osmium market on the South American continent. Just like in previous years, the latest topics and strategies around osmium were discussed.
The main objectives of the Osmium Symposium were:
- Focus of business development in South American countries.
- Integration of country-specific ways of thinking and traditions.
- Osmium as a state reserve in South American countries.
- Building on the positive momentum of the recent change in Brazilian politics.
- Prevention of money laundering, discussion of prevention strategies and procedures for detecting money laundering.
- Advertising campaigns in consensus with local consumer habits.
- Identifying relevant cultural differences in the osmium market between Europe and South America.
- ESG-M, the ethical development of a market for the benefit of all market participants.
- Expansion of the Institute's work on the South American continent.
- Recruitment of new country partners.
The 2023 meeting took place from the 22nd to the 24th of March. The leaders of the Osmium World Trade developed strategies for expansion on the South American continent. For the first time, highly qualified trading partners and VIPs were invited alongside the country institute partners to discuss country-specific topics.
The following topics were on the agenda:
AGENDA 22ND OF MARCH 2023
9:00 AM Symposium Opening by Stefanie Schulenberger & Marcos Saito
9:15 AM Introduction of New Partners - 5 Minutes of Individual Team Member Introduction
10:30 AM Coffee Break
10:45 AM Updates from Osmium South America by Marcos Saito
12:15 PM Lunch at Quattrino Restaurante Rua Oscar Freire 506- Jd Paulista
1:45 PM Updates from the Osmium Institute Management by Ingo Wolf & Scarlett Clauss
3:00 PM Doing Business in Latin America by Annette Walkers
4:00 PM Q&A with Ingo Wolf & Scarlett Clauss
6:30 PM Dinner at Pizzaria Marguerita - Alameda Tiete, 255 - Jd Paulista
DRESS CODE: BUSINESS CASUAL
PARKING AT EMILIANO HOTEL ***** IS INCLUDED
AGENDA 23RD OF MARCH 2023
9:00 AM Symposium Opening by Stefanie Schulenberger & Marcos Saito
9:30 AM Special Guest: Bernardo Goldztajn - Wealth Management
10:45 AM Coffee Break
11:00 AM Special Guest: Fernanda Silva - The Luxury Market in Latin America
12:15 PM Lunch at Quattrino Restaurante Rua Oscar Freire 506 - Jd Paulista
2:00 PM Special Guest: Samuel Oliveira - Finances & Investment Banking
3:45 PM Special Guest: Luciana Pacheco - ESG Advisor
5:00 PM Wrap up by Ingo Wolf & Scarlett Clauss
7:00 PM Dinner at Rascal Restaurant J. E. Lima - Alameda Santos 870 - Jd Paulista
DRESS CODE: BUSINESS CASUAL
PARKING AT EMILIANO HOTEL***** IS INCLUDED
AGENDA 24TH OF MARCH 2023
9:00 AM Internal Meeting
10:00 AM Family Office Meeting
12:00 PM Lunch at Restaurante Quattrino Rua Oscar Freire 506 - Jd Paulista
1:00 PM Special Guest: Ecio Moraes - IBGM - Brazilian Institute of Gems & Precious Metals
3:15 PM Family Office Coffee Break
3:30 PM Internal Meeting
5:00 PM Wrap up by Ingo Wolf & Scarlett Clauss
7:00 PM Self organised Dinner
DRESS CODE: BUSINESS CASUAL
PARKING AT EMILIANO HOTEL***** IS INCLUDED
Results of the Symposium
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Country specific approach of the osmium market development
Information on receptive behaviour, tradition and consumer habits with regard to jewellery and precious metals was shared among the participants of the symposium. It turned out that in South American countries jewellery is happily worn and displayed, but in the case of tangible investment metals, customers are reluctant to store them at home. Many clients do not consider their own homes safe enough to store goods there. However, institutional security can be provided. In addition, citizens of South American countries are more willing to purchase goods that are also stored abroad.
The new political situation under a new president raises hopes that import tariffs will drop and that international business will face fewer hurdles with regard to payment transactions.
It is clear that customers in South America are haptic and want to see and touch goods on site. Pure internet business applies more to commodities for daily use. Financial products are often viewed with scepticism. Investing in tangible goods, for example precious metals like osmium, therefore makes a lot of sense. A bridge has now to be built between the customer's desire for secure tangible investment and the establishment of acceptance in the tangible investment market, which also allows for secure delivery and storage of the goods.
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Jewellery market
In a country where the sun shines almost every day, osmium in its crystalline form is certainly very usable as a jewellery metal. It is also clearly recognised in South American countries that the diamond market as we know it, is nearing its end. For this reason, crystalline osmium must now fill the gap created by trading problems with natural diamonds.
Here, storytelling is the most important part. Diamonds are not to be demonised, nor are they to be pushed out of the market. However, it must be clearly stated that the price decline of diamonds is predetermined by the competition from the lab-grown segment. Lab-grown diamonds have fewer defects in the crystallisation, they have no inclusions and, above all, they are produced according to ethical guidelines. The combination of these arguments displays the gap in which crystalline osmium will find its market.
Cooperation with jewellers and jewellery associations must now be cultivated over the next few years. Mutual memberships should be offered and contacts with current business leaders in the jewellery segment should be strengthened. It is necessary to support a campaign that allows individual pilot projects to work with crystalline osmium and to exhibit the goods produced at large trade fairs with high visibility. For this reason, a contingent of goods will be made available by the German Osmium Institute, which can be used to have these pieces produced by local manufacturers without the entry hurdle of a purchase.
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ESG-M in South American countries
Corruption and a sometimes higher level of crime in the big cities, make it necessary to implement special policies in market control. With the introduction of ethical market governance, it will be possible to protect individual investors in kind from fraud and counterfeit goods. The Osmium World Database allows for a clear assignment of ownership and provides the means for foolproof identification of individual pieces via nanometre-scale depth scans. Thus, a particularly secure market can be created.
In the secondary market, the additional verification by the Brazilian institute will be necessary in order to give buyers from the commercial segment the confidence to also purchase from private sources.
Summary of the results
South America is a fantastic market for crystalline osmium. The specifics of the market have to be taken into account to a greater extent than in European countries, but great potentials can be explored through sensible storytelling. Innovations are welcome and appreciated in the jewellery market segment. The selection of further country partners must take place with sufficient screening of individuals and companies. Especially family offices seem to be well addressable and show interest in crystalline osmium. The next steps are mainly the production of eye-catching jewellery with extraordinary designs, the production of series for the mass market and the attendance of equally jewellery fairs and financial fairs.