Unlike you, Klos, I'm lucky enough to be able to wear silver ... and buying silver is my response to the credit crunch - although I still buy yellow gold. I do like some of their silver, but even that CAN be pricey given the stones (amethyst etc) I'm also unconvinced by the Topaz specials, which do seem pretty pricey given they are fairly common, coated stones.
I think Gems, like many companies, expanded too quickly during the 'credit flush' days and is trying to just maximise profit on a quick turnaround with cheaper stones.
Personally, I think this is short-sighted, because people will pay for good quality, original jewellery, whatever the metal, but if the profit sheet is in the red and your shareholders are clamouring, I guess needs must ...
I just hope GTV manages to survive ... I always thought the rot set in when it went public in Singapore; shareholders are less likely to care what the 'company philosophy' is than the founder (come back Don K!).
BTW, where did you hear that pieces are being outsourced for manufacture? I'm not disagreeing, just curious. Interestingly, I haven't seen any 'short clip' interviews with their Thai staff for quite a while, which leads me to believe you are right.