Industry News Round up…
(September 8, ’11, IDEX)
(IDEX Online News) – Traders, wholesalers and service providers reported good business at International Jewellery London, which closed Wednesday evening.
While the floor was not crowded with visitors – the numbers are up from last year by about 2 percent to over 9,000 visitors – and the mood among buyers was cautious, the show was able to attract buyers stocking up on items.
(August 31, ’11, The BJA)
The KickStart initiative was launched as a bursary scheme for fledgling jewellery designers attending International Jewellery London for the first time and three years on it still acts as a commercial launch pad for the ten promising designers at one of the UK’s most prestigious industry shows. The project has been supported from its inception by the British Jewellers’ Association and Marketing Manager, Lindsey Straughton gives advice to the participates in a pre event workshop, hosted by the show organizers Reed exhibitions, as well as practical help on the stand during the show.
(August 23, ’11, HH Magazin)
Watches in gold and bi-metal experienced particularly sustained growth, both in value and in terms of the number of pieces. Mechanical timepieces lagged behind somewhat with growth in single figures. In all 2.6 million timepieces left Switzerland in July, bringing the running total since January to 16.6 million units (+19.8% compared to January-July 2010).
Nicolas and Nick Hayek
(September 8, ’11, HH Magazine)
Nicolas Hayek dropped the bombshell in 2009. Now his son Nick is putting the plan into practice. The Swiss watch industry will ultimately have to manage without Swatch Group for its parts. As the late Nicolas Hayek announced, this concerns everything from finished movements and assortments to escapements, balances and springs.
(July 7, ’11, Antwerp Facets)
Ahead of its Annual General Meeting to be held later today in Geneva, Richemont announces that its sales for the five months ended 31 August 2011 increased by 29 % at actual exchange rates. At constant exchange rates, sales increased by 35 %.
Read more »
Justine Bieber
(September 4, ’11, Antwerp Facets)
U.S. teen pop sensation Justin Bieber is doing his bit for diamonds – having ordered a custom-made diamond grill to cover six of his teeth.
It is not planned to be a permanent fixture, however, but rather as part of a Halloween costume.
(August 31, ’11, Antwerp Facets)
Online sales have come a long way over the past decade and continue to change the way we buy goods.
Would you buy a valuable piece of jewellery online? Would a man dare to buy an engagement ring to present to a woman he hopes will say ‘yes’ online without seeing and inspecting it?
Read more »
(September 7, ’11, JCK Staff)
The RapNet Diamond Index for 1 ct. diamonds fell 4 percent in August, the company said. Half-carat stones declined by 2.2 percent. Three-caraters dropped 5.4 percent.
A statement noted that sentiment in the diamond market had declined, because of apprehension about U.S. debt, slow U.S. and European economic growth, volatile equity markets, and low consumer confidence.
(September 8, ’11, Jeff Miller)
The Gemological Institute of America (GIA) graded the diamond on June 8, 2011 (GIA report 15154097).
According to the auction’s webpage, bidding went overtime, but closed at 3:15 p.m. EDT today.
(September 8, ’11, UInterview)
Silver screen icon Elizabeth Taylor will be remembered for her spunk, her spirit, and her sparkles. The Hollywood legend died in March at the age fo 79, but her $30 million jewelry collection survived her, and it will go to the highest bidder when each piece is auctioned off on December 13 and 14 at Christie’s auction house in New York.
The collection is comprised of more than 269 pieces, including the “Elizabeth Taylor Diamond,” a 33.19-carat Asscher-cut gem that Richard Burton bought for her when they were married. Though Burton purchased it for a mere $305,000 in 1968, the piece is expected to bring in up to $3.5 million today, 43 years later, according to the UK’s Telegraph.
(ABC News)
The Elizabeth Taylor Diamond,” from her estate, a 33.19-carat diamond estimated at roughly $3 million, is shown in this photograph at Christie’s in New York City Sept. 1, 2011. Taylor was known for her legendary jewelry collection and about two dozen of her most memorable pieces are at Christie’s auction house, which will sell her complete jewelry collection in New York Dec. 13-14, 2011.
(April 21, ’11, Diamonds.Net)
Gold surges to record ($1,510 oz.) and silver soars to 31-year high ($46 oz.) as sovereign debt concerns in Europe and U.S. inflation fears hit currency markets. Diamond trading quiet over Passover and Easter holidays. De Beers 1Q production +5% to 7.4m cts. BHP Billiton FY3Q production -28% to 551,000 cts. Letseng 1Q sales +73% to $47m while prices reach record $4,272/ct average in April. LVMH 1Q watch & jewelry sales +20% to $371m. Bulgari 1Q jewelry sales +29% to $167m. Lazare Kaplan FY3Q sales +37% to $39.5m. Sotheby’s NY sells $39.4m (84.2% by lot) with 30.52-ct, D, VVS1, emerald cut selling for $3.4m ($110,960/ct.) Rapaport offices closed on April 25-26 due to Passover holiday.
Read more »
(March 7, ’11, Jeff Miller)
Six weeks after LVMH Moet Hennessy Louis Vuitton SA (MC) said it wouldn’t overpay for acquisitions, the world’s largest maker of luxury goods is now spending more than ever to purchase Bulgari SpA. (BUL)
Read more »
(April 18, ’11, Jeff Miller)
RAPAPORT… Sales of watches and jewelry at LVMH Moët Hennessy Louis Vuitton rose 20 percent year on year during the first fiscal quarter at a constant exchange rate to $371 million (EUR 261 million). Total company revenue rose 14 percent to $7.46 billion (EUR 5.25 billion).
Read more »
(March 7, ’11, National Jeweler)
The Graham Chronofighter Fortress looks great with the pre-tinted luminous hands and markers. © Worldtempus/Kristian Haagen
Baselworld is huge. The show covers 160,000 square meters of watch and jewelry exhibitors, not accounting for the satellite exhibitions. One of the watch brands showing new model nearby, not on the fairgrounds, was Anglo-Swiss watch brand Graham.
(April 20, ’11, National Jeweler)
This 6-carat Cartier Ruby ring, which sold for $200,000 a carat at Doyle New York’s jewelry auction, attracted a great deal of international interest.
New York–A Burma ruby sold for $1.3 million at Doyle New York’s Important Estate Jewelry auction here on April 13, more than 16 times its pre-sale estimate of $80,000.
The ruby, set in a ring by Cartier, was the highlight of the jewelry collection of the late Alice Appleton Hay, who was the daughter-in-law of John Hay, President Abraham Lincoln’s secretary. John Hay also went on to serve as secretary for Presidents William McKinley and Theodore Roosevelt.
(April 22, ’11, The Saudi)
HONG KONG: The political upheaval convulsing the Middle East is pushing up the price of high-quality gems, traders say, as the region’s well-heeled look to convert their wealth into easily portable property.
De Beers mines for diamonds in southern Africa. The Millennium Star, left, was found in Zaire and bought by De Beers.
Rough diamond prices were 27pc higher in 2010, topping prices before the financial crisis, De Beers said. Demand is recovering in the US, the biggest diamond market, and Chinese and Indian consumers are increasingly splashing out on the gems.
However the diamond miner is cautious about 2011, and does not expect prices to rise at such a rapid pace this year.
Read more »
Luxury jeweller Stephen Webster at news conference in London to launch Fairtrade gold
(February 9, ’11, Jewellery Outlook)
LONDON, February 9, 2011 – British jewellers launched certified “Fairtrade” gold today to try to boost livelihoods of artisanal miners and ensure ethical standards and traceability.
Luxury jeweller Stephen Webster joined the drive to sell gold jewellery made with the new Fairtrade label, part of a growing market in ethical goods ranging from coffee to clothing.
Stevie Wonder and Gladys Knight were among the celebrities on hand earlier this week in New York when Hublot helped to celebrate the 25th anniversary of amfAR, The Foundation for AIDS Research.
(February 11, ’11, National Jeweler )
New York—Luxury watch brand Hublot opened its third U.S. store today, with the installation of a boutique on New York City’s Madison Avenue.
The new store (exterior pictured below) is nearly 300 square meters (about 3,200 square feet) in size and includes a mezzanine area that houses a private salon lounge. On the corner of Madison Avenue and 62nd Street, it is located on the premises of what was a historic 19th century house on a high-end block.
Carrie Bradshaw? Eat your heart out.
(January 28, ’11, Jewelry.com)
Manolo Blahnik’s iconic shoes have been an essential staple in every fashionista’s wardrobe for as long as women could coo, “Hello, lover.” And now the fashion-forward have an even better reason to drool:
Manolos are coming to a jewelry box near you.
(February 10, ’11, IDEX Online Staff Reporter)
A recent statement by the World Diamond Council (WDC) set off grumbling in India. The WDC clarified that Zimbabwe’s Marange diamonds are not yet clear for trade and the response from Surat was a series of statements protesting the current situation. Clearly, the “issue of Zimbabwe,” should be resolved, brining Zimbabwe into the fold of legitimate diamond trade. But the voices from Surat were referring to a wider issue. Two very respected figures of India’s diamond industry were quoted.
Read more »
(February 10, ’11, Diamonds.Net)
U.S. retailers hoping for strong Valentine’s Day sales this weekend. Polished trading stable as Far East dealers return from vacation. Mining company revenues boosted by high rough prices: Rio Tinto 2010 diamond sales +52% to $682M, diamond profits of $70M vs. loss of $68M in 2009; ENDIAMA’s 2010 sales reach $955M with annual production of 8.5M cts. ALROSA sells $313M in Jan. Blue Nile 4Q sales +12% to $115M, profit +14% to $6M. LVMH 2010 watch & jewelry sales +29% to $1.3B, operating profits +103% to $174M. Shrenuj & Co 3Q sales +17% to $143M, profits +2% to $31M. Mumbai municipality proposes to cut inter-state octroi tax on diamonds from 2% to 0.01% on Apr. 1.
Read more »
(February 11, ‘11, National Jeweler)
Seattle—Fourth-quarter revenues rose 11.5 percent for Blue Nile, the largest online retailer of fine jewelry, fueled by robust sales during what the company said was the best holiday season in its 12-year history.
In an earnings release issued late Thursday, Blue Nile reported record sales of $114.8 million for the fourth quarter 2010, up from $102.9 million in the fourth quarter 2009. For the full year, Blue Nile reported net sales of $332.9 million—also a record for the company—compared to $302.1 million in 2009, an increase of 10.2 percent.
Swiss watchmaker Swatch
(February 9, ‘11, 2:33 IDEX Online Staff Reporter)
Swiss watchmaker Swatch reported record gross sales of CHF 6.44 billion ($6.69 billion) in 2010, rising 21.8 percent at constant exchange rates. The increase in revenues resulted in a record operating profit of CHF 1.436 billion ($1.49 billion) and a net profit of CHF 1.08 billion ($1.12 billion), representing an increase of 41.5 percent over 2009.
(February 11, ’11, JCK)
Doris Payne, the 80-year-old international jewel thief whose criminal history spans decades, was sentenced to five years in prison Feb. 9, according to news reports.
Payne was convicted on Jan. 12 for stealing a $8,900 diamond ring from Macy’s in San Diego in 13 months ago.
Read more »
LVMH Watch and Jewelry Sales
(February 8, ’11, Jewelry News Network)
LVMH Moët Hennessy Louis Vuitton annual watches and jewelry sales grew by 29 percent in 2010 to 985 million euros ($1.34 billion) and profit from recurring operations doubled. Watch and jewelry brands gained market share across all regions.
Read more »
(June 29, ’10, National Jeweler’s Jewelry Fashion Reports)
New York–The Jewelers Vigilance Committee (JVC) has published a “New Quick Reference” guide for manufacturers and sellers of an increasingly popular category of jewelry: pieces that combine silver and karat gold.
(July 6, ’10, National Jeweler’s Market Developments)
Minneapolis–Target has set its sights once again upon the Big Apple and will open its first store in Manhattan on Sunday, July 25, the retail company has announced.
While the big-box retailer counts stores in other New York City boroughs, including three locations in Brooklyn and one in Queens, the latest store will mark the first on New York’s bustling island.
(June 30, ’10, Jeff Miller)
RAPAPORT… Fewer affluent U.S. consumers purchased jewelry and other luxurious personal and fashion items, according to the Personal Luxury Report 2010 produced by Unity Marketing. But the study also found that those who did buy jewelry spent more, which helped boost total sales across the affluent marketplace. The research and consulting firm discovered that 44 percent of affluent consumers bought personal luxuries in 2009, a decline of 10 percentage points compared with the results of the 2006 study.
The Argyle Pink Diamond Tiara contains a total of 178 pink diamonds and recently was on display at the Masterpiece Fair 2010 London, held June 24 to June 29.
(Junu 30, ’10, National Jeweler’s Supply)
Perth, Australia–A diamond tiara containing 178 Argyle pink diamonds was among the unique objects on display at the recent Masterpiece Fair 2010 London, touted as a showcase of the most coveted objects on earth.
(June 30, ’10, National Jeweler’s Supply)
Antwerp, Belgium–The financial burden placed on diamond manufacturers will be at the forefront of the agenda when the International Diamond Manufacturers Association (IDMA) meets at the 34th annual World Diamond Congress next month.
(July 6, ’10, National Jeweler’s Jewelry Fashion Reports)
Linz, Austria–An Austrian goldsmith has crafted a $21,343 version of the vuvuzela, the plastic African trumpet that has provided a continuous–and sometimes controversial–backdrop to the games of the 2010 FIFA World Cup in South Africa.
Naomi Campbell
(July 4, ‘10, IDEX Online Staff Reporter)
Supermodel Naomi Campbell is being forced to testify in the war crimes trial of former Liberian president Charles Taylor. Campbell was issued a subpoena ordering her to appear, in court on July 28. If she refuses, she could face a fine of $500, a prison sentence of seven years, or both.
(July 2, ’10, National Jeweler’s Grading)
Carlsbad, Calif–The Gemological Institute of America (GIA) launched its 2011 scholarship season this June, kick-starting it with an offering of more than 140 scholarship opportunities for students, including two new $10,000 awards from Tiffany and Co.
The Eternal Borgezie Diamond Stilettos
(July 5, ‘10, IDEX Online Staff Reporter)
A Birmingham, UK-based designer has created a pair of gold and diamond high heeled shoes, perfect for a flashy night out on the town. The shoes are made of solid gold or platinum and are encrusted with 2,200 brilliant cut diamonds totalling 30 carats.
(June 29, ’10, Jeff Miller)
RAPAPORT… Michael Lebowitz joined Buxbaum Jewelry Advisors as vice president. Lebowitz, who offers 40 years of experience in jewelry retailing, wholesaling and consulting, will be based in the firm’s new metro Boston office, where he will lead a team dedicated to assisting wholesale and retail jewelers in distress.
Jeweler Sabine Roemer (front, right) designed the "Emerald Queen," a fiberglass elephant embellished with a 678-carat Gemfields emerald. The Emerald Queen was the highlight of the "Emeralds for Elephants" auction, which also featured designer emerald jewelry, as seen on the models above.
(July 1, ’10, National Jeweler’s Jewelry Aunctions)
London–An auction that included an array of emerald jewelry by well-known designers and an emerald-studded “elephant” has raised $1 million for the World Land Trust and the Wildlife Trust of India, organizations that work to create a network of wildlife corridors for the endangered Asian elephant.
(June 30,’10, Jeff Miller)
RAPAPORT… Rockwell Diamonds acquired a 20 percent stake in Flawless Diamond Trading House Ltd. from Hennie van Wyk for a consideration of approximately $97,000 (ZAR 700,000). Rockwell decribed Flawless Diamond Trading House as a company established in 2006 to market and sell the mining company’s diamond production.
Arman took first place in the silver category and was also selected as the editor's choice winner in the Couture Design Awards. These earrings in oxidized sterling silver and 22-karat gold feature lapis, diamonds and black diamonds. For inquiries, please call Fragments, (212) 226-8878.
(July 1, ’10, Catherine Dayrit)
Couture designers often go behind the scenes to accessorize news-makers for red-carpet events and awards shows. But on June 5, the Couture community drew back the curtain to celebrate those behind-the-scenes design stars at an awards event all their own: the Couture Design Awards.
(July 7, ‘10, IDEX Online Staff Reporter)
Two more suspects have been found guilty of involvement in Britain’s largest jewelry heist. The decision, which was handed down yesterday at Woolwich Crown Court, brings the total number of convictions in the £40 million ($60 million) Graff robbery to four.
Ivanka Trump (second from right) and London Jewelers' Udell family co-hosted a VIP event last week to debut the Ivanka Trump Fine Jewelry collection at London Jewelers' store in East Hampton, N.Y. The retailer will introduce the collection to a second Long Island, N.Y., store later this year.
(July 6, ’10, National Jeweler’s Market Developments)
East Hampton, N.Y.–Ivanka Trump and London Jewelers’ Udell family celebrated a new retail partnership last week by hosting a cocktail reception to debut the Ivanka Trump Fine Jewelry collection.
The by-invitation-only event took place at London Jewelers’ East Hampton location, with over 250 guests in attendance, including style-makers, family, friends and local and national press.
(July 6, ‘10, IDEX Online Staff Reporter)
C&A Diamonds International, a subsidiary of the DTC Sightholder the Shrenuj Group, has launched an Apple iPad app called “JewelPadTouch™ – The Future of Customer Service.”
The JewelPadTouch app enables authorized retail dealers across the U.S. to offer an interactive catalog, mounting customization, management of client database along with order generation and tracking support of their loose diamond inventories.
The Victor Mine In Ontario
(July 4, ‘10, IDEX Online Staff Reporter)
The Canadian jewelry company Charm Diamond Centres has announced that has it successfully bid to be one of the exclusive carriers of the first diamonds mined, cut and polished within Ontario.
(July 5, ’10, By Rio Tinto)
Press Release — Perth, July 5, 2010: Rio Tinto today announced the launch of its new publication, Rare and Collectable, which focuses on the unique market position occupied by the rare pink diamonds from Rio Tinto’s Argyle Diamond Mine.
Timed to coincide with the 26th Argyle Pink Diamonds Tender, Rare and Collectable places the rarity of Argyle pink diamonds in the context of global supply and demand and the resulting strong price appreciation. This publication is considered timely given the increasing propensity for affluent investors and collectors to diversify their portfolios through acquisitions of rare diamonds.
The death of Swatch Group founder Nicolas Hayek on Monday made headlines around the world.
(June 29, ’10, National Jeweler’s Brand Profiles)
New York–Following Swatch Group founder and chairman Nicolas Hayek’s death on Monday, newspapers around the world chimed in to memorialize the visionary businessman, and even a rival watch group expressed condolences and paid tribute.
(June 30, ’10, Swiss Watch News 2010)
It is with consternation and great sadness that we have learned of the death of Mr Nicolas Hayek. On behalf of the staff of the FH, we offer our deepest sympathy to his family and loved ones.
The Swiss watch industry has lost one of its most ardent supporters, who showed unrelenting commitment to promoting the excellence of Swiss watchmaking. His death marks the loss not just of a key actor in the world of watchmaking but in a very real sense a leading Swiss personality, since his commitment and his aura were felt well beyond the confines of the watch industry.
Swatch founder Nicolas G. Hayek Photo: Swatch
(June 29, ‘10, IDEX Online Staff Reporter)
Nicolas G. Hayek, founder and chairman of the board of directors of the Swatch Group, died Monday at the age of 82. Hayek is credited with reviving the global interest in buying a wristwatch with the introduction of low cost, vividly designed watches that had wide mass appeal for teens and adults alike.
(June 29, ’10, Nationa Jeweler’s eCommerce Developments)
Los Angeles–Robbins Bros., the 10-store chain that touts itself as “The Engagement Ring Store,” announced Tuesday that it is making the leap into e-commerce.
According to a press release from the Azusa, Calif.-based company, customers are now being invited to shop online for their diamond engagement rings and wedding bands.
Lika Behar Collection earrings in 24-karat gold and oxidized silver with moonstone; suggested retail price is $3,300. LikaBehar.com
(June 30, ’10, National Jeweler’s Jewelry Fashion Reports)
New York–Editors attending Jewelry Information Center (JIC)’s fine jewelry preview and luncheon last week got an early glance at the industry’s top trends for 2011, from the latest in colored gemstones to designer offerings in that “metal of the moment,” sterling silver.
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