The matter has been sufficiently serious for Consumer Affairs Victoria to have issued a public warning on 22 May concerning Shannakian Fine Jewellery, citing a wave of consumer complaints about the business.
The government regulator provides a range of services to support consumers and businesses, including enforcing laws and conducting investigations; however, Jeweller can also report that Shannakian Fine Jewellery is facing other serious legal issues.
The Consumer Affairs Victoria warning was published on the regulator’s website and social media accounts and detailed that consistent complaints have been received from Australian and international customers about the conduct of the Melbourne-based business since February 2021.
“In September 2024, after receiving a spike in consumer complaints, Consumer Affairs Victoria issued Shannakian Fine Jewellery an Official Warning, strongly encouraging the business to refund affected consumers and address ongoing consumer complaints,” the statement explains.
“Since 1 January 2025, Consumer Affairs Victoria received a further 14 consumer contacts about the unfair business practices of Shannakian Fine Jewellery. This is in addition to the 28 consumer contacts received in 2024.”
The public warning was issued by the acting director of Consumer Affairs Victoria, David Joyner.
The complaints concern several areas of business, including accepting payment for jewellery but failing to provide it in a reasonable time, if at all. Other allegations include failing to provide refunds when requested and required, and failing to provide refunds for faulty products.
“The conduct of Shannakian Fine Jewellery has adversely affected the interests of its customers. I have decided to issue this statement because I am satisfied that it is in the public interest to do so,” Joyner explained.
“I urge consumers to be cautious about purchasing goods from Shannakian Fine Jewellery. I also urge any current customers of Shannakian Fine Jewellery to be wary of making further purchases and/or payment.”
What is Shannakian Fine Jewellery?
Shannakian Fine Jewellery is the trading name of Shannakian Jewellery Pty Ltd (ACN: 674 419 277).
According to Australian Securities and Investments Commission (ASIC) records, Hovig Shannakian registered the company on 23 January 2024, while Arpee Shannakian is frequently cited as running the business with her husband.
The website explains: “Hovig Shannakian is passionate about handcrafting superb jewellery from the finest materials.
“With over 20 years of industry experience, Hovig opened his Melbourne based Shannakian Fine Jewellery in 2007, and has become one of Australia’s most sought-after custom fine jewellers.
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| Shannakian Fine Jewellery has more than 25,000 followers on Instagram, and the Consumer Affairs Victoria statement says that many of the complaints stem from this Instagram account. |
“Growing up in Lebanon, Hovig took an apprenticeship in jewellery setting and moved out on his own in Beirut when he was just 13. While it seems almost unbelievable that one could find their calling in life at such a young age, that’s exactly how Hovig discovered his obsession for diamonds, jewels and designing unique, irresistible pieces.”
Shannakian Fine Jewellery can be described as a ‘showroom’ business, in this case, a ‘retailer without a storefront’.
Unlike a traditional jewellery store, customers must make an appointment to visit the business. This often involves the customer viewing the products and/or organising custom jewellery, and the product is delivered or collected at a later date.
Traditionally, showrooms were used in business-to-business transactions rather than consumer retail. A showroom does not usually carry stock that a consumer purchases off the shelf.
The Instagram account for Shannakian Fine Jewellery states that customers can visit the Melbourne or Sydney showroom by appointment. Two addresses are listed for the Melbourne showroom; however, the Sydney address is unclear despite being mentioned on social media and in consumer reviews.
According to the company’s website, the business was opened in 2007 and has become a “go to for discerning jewellery lovers and celebrities”.
The public warning marks a dramatic fall from grace for an Australian jewellery company that once enjoyed significant popularity among fashion trend-setters.
As documented on the company's social media accounts, Britt Selwood, Bec Judd, Sonia Kruger, Roxy Jacenko, and others have worn Shannakian Fine Jewellery products.
The retailer also had international appeal, with Khloe Kardashian and Kris Jenner spotted wearing necklaces in an episode of Keeping Up With The Kardashians in 2019. Other celebrities photographed wearing the jeweller’s products include former Miss Universe Australia Maria Thattil and The Bachelor’s Snezana Wood.
Wind Up Notices
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| The Facebook account has around 1,000 followers and was registered on 28 February 2014. |
In an interesting conundrum, the company’s website states that the business began in 2007, despite ASIC records showing that Shannakian Jewellery Pty Ltd was registered on 23 January 2024!
Furthermore, ASIC records also note that two applications to wind up the company have been filed — the first in July last year and the second in February this year.
This is a legal document filed with a court to initiate the process of dissolving and liquidating a company. Applications are often made by creditors; however, they may also be initiated by shareholders, directors, or government regulators and/or agencies.
The first Wind Up application (July 2024) was filed by an individual; however, the second (February 2025) was filed by MMDIA Pty Ltd. ASIC records reveal that Grown Diamonds is the trading name for MMDIA Pty Ltd, registered in December 2018.
As an interesting aside, Jeweller has previously documented the concerning conduct of this lab-created diamond business, after it was revealed that a fake photograph of the owner, Miriam Tenenboim, had been provided for a story.
Jeweller contacted Grown Diamonds regarding the Wind Up application for Shannakian Jewellery Pty Ltd; however, no response was provided.
Interestingly, despite the Shannakian Fine Jewellery website offering a broad range of diamond jewellery, there appears to be no mention of ‘lab-created diamonds’ or ‘lab-grown diamonds’ on the business’ website or social media channels.
Social Media & Reviews
Shannakian Fine Jewellery is active on social media, with accounts on Facebook, Instagram, TikTok, YouTube, and LinkedIn.
The Facebook account has around 1,000 followers and was registered on 28 February 2014. Interestingly, it was registered as ‘Precision Diamond Setters’ before the name was changed to Shannakian Fine Jewellery on 19 August 2015.
The page has five registered administrators overseeing management, each from Australia.
Shannakian Fine Jewellery has more than 25,000 followers on Instagram, and the Consumer Affairs Victoria statement says that many of the complaints stem from this Instagram account.
Like many jewellery retailers, the Shannakian Fine Jewellery website has a panel dedicated to customer testimonials, most of which provide glowing recommendations.
With that said, the feedback found elsewhere tells a different story. The retailer has just one Trustpilot review, which is exhaustive in detail and accuses the company of misconduct.
The retailer has more than 400 Google Reviews and a 4.7/5 rating. With that said, in recent weeks, a flood of negative reviewers have accused the business of failing to deliver products and refunds, among other allegations.
A thread on the social media platform Reddit contains various anonymous consumer complaints, echoing the allegations detailed in Consumer Affairs Victoria’s public warning.
Jeweller contacted Shannakian Fine Jewellery requesting comment from Hovig Shannakian and/or Arpee Shannakian. No response was provided.
Editor's Note: As part of the public warning, Consumer Affairs Victoria urges consumers to be cautious before purchasing Shannakian Fine Jewellery products. Contact can be made with the regulator with the complaint form, email, or by calling 1300 55 81 81.
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