Industry News Round up…
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.
(June 29, ’10, Jeff Miller)
RAPAPORT… Charm Diamond Centres in Nova Scotia received the right to carry diamonds mined, cut and polished in Ontario, Canada. The company’s rough diamonds are mined at the De Beers Victor mine and then cut and polished by Crossworks Manufacturing in Sudbury. The finished stones will be sold at select Charm Diamond locations and will also be available at all of its locations during Charm’s 2010 travelling trunk show.
(June 29, ’10, National Jeweler’s Jewelry Fashion Reports)
The high price of gold has inspired the industry to create new technologies that produce new combinations and alloys of gold, silver and gold and other gold-plated products, and as with any other jewelry category, manufacturers and retailers must meet certain standards when marketing and selling this type of merchandise to consumers to ensure a fair marketplace and to help increase consumer confidence, the JVC said in a release.
Royal Chain Group's new catalog is a 300-page publication that includes the company's trademark 14-karat gold jewelry as well as new offerings in sterling silver and two-tone jewelry.
(June 28, ’10, National Jeweler’s Jewelry Fashion Reports)
New York–Royal Chain Group, a New York-based manufacturer and designer of precious metal jewelry, has introduced its newest catalog, a 300-page publication with offerings that expand beyond the company’s trademark 14-karat gold jewelry into new options in sterling silver and two-tone jewelry.
Hemmerle earrings
(June 30, ’10, Julia Neel)
BRONWYN COSGRAVE calls Hemmerle one of the best jewellery brands in the world and she’s not the only one to think so – the V&A has just acquired a Hemmerle bangle for its permanent collection. The German brand, which once made royal standards for the Bavarian court – and also made one for King George V in 1911 as a gift from the Bavarians – is now run by Christian Hemmerle and his wife Yasmin, who scour the globe for unusual and rare stones and materials to turn into exquisite jewellery.
(June 30, ‘10, IDEX Online Staff Reporter)
Held on 24 June at the NH Hotel in Fribourg, the FH General Meeting took place in a far more favourable economic environment than that which held sway last year. A welcome improvement which Jean-Daniel Pasche referred to at the start of his presidential address: «The situation has improved since the end of 2009. Watch exports resumed their upward trend during the first five months of the year. At the end of May, the increase was 15.8% by value and 19.2% by volume.
Read more »
(June 30, ‘10, IDEX Online Staff Reporter)
In yet another potential cadmium scare, the U.S. Consumer Product Safety Commission, in cooperation with toy distributor SmileMakers Inc., of Spartanburg, South Carolina, today announced a voluntary recall of Children’s Happy Charm bracelets and football rings. The recall affects about 66,200 bracelets and 2,200 rings
Larry Yaseen, joined by daughter Tarra (left), says strong women, including his wife and store manager Jody (right) have been crucial to the business's success. Based in Naperville, Ill., Harry W. Yaseen Jewelers moved into its current space--which was designed to be open and visually stimulating--back in 2004.
(June 23, ’10, Michelle Graff)
Naperville, Ill.–Talk with Larry Yaseen, president of Harry W. Yaseen Jewelers in Naperville, Ill., for a bit and it won’t be hard to figure out what has kept him in the jewelry business for more than 30 years, nor why his family-owned store has been open for a century.
(July 1, ‘10, IDEX Online Staff Reporter)
The International Colored Gemstone Association has launched the sixth ICA International Poster Competition in connection with the ICA Congress, which will take place in Rio de Janeiro, Brazil from April 30 to May 4, 2011.
Philippa Holland bracelets
(June 24, ’10, Julia Neel)
PHILIPPA HOLLAND has created a diffusion line called Sur La Plage inspired by beaches in the summertime. The collection is charm orientated and features trinkets cast from real flowers. They come on chains or coloured threads and are made from silver or gold-plated silver, making it very affordable.
The "Sailing-Touch Gent" by product panelist favorite Tissot (Tissot.ch) offers touch-activated functions, including meteorological forecasting ability, tide-calculator and regatta countdown, plus stainless-steel case with black, silver or navy blue dial and rubber strap. Its suggested retail price is $1,095, a price point that is popular for 8 percent of our panelists, most of whom reported the $300-$800 price points as faring well these days (see chart at right).
(June 25, ’10, Michelle Graff)
For National Jeweler’s product panel, we bring together jewelers from around the country who have agreed to share details on their stores, as well as their thoughts, strategies and advice on issues that impact their businesses. For our May 16, 2010, print edition, the panel weighed in on watches.
(June 30, ‘10, IDEX Online Staff Reporter)
Rockwell Diamonds Inc. has reported that it recovered a 124 carat and a 145 carat stone from the Saxendrift mine in May. The company also said that it had discovered a 66 carat diamond at its Holpan operation in April. The stones were sold through Rockwell’s joint venture agreement with Steinmetz Diamond Group.
Jim McGuckin, right, married Mandy amongst the bubbles at jeweler Steven Singer's 5th annual "World's Largest Bubble Bath" event, held last Thursday at the retailer's Philadelphia store.
(June 28, ’10, National Jeweler’s Market Developments)
Philadelphia–Jeweler Steven Singer, known industry-wide for his irreverent marketing campaigns, saw one of his more off-the-wall events– the “World’s Largest Bubble Bath”–get even stranger last week.
Maverick marketer Singer hosts the event annually at his Philadelphia store, Steven Singer Jewelers and the latest was held Thursday. As in years past, the event saw a mix of men and women charging their way through a bubble-filled Steven Singer Jewelers in bathing suits for the chance at snatching up a myriad of prizes.
Caddis Cascade necklace
(June 24, ’10, Julia Neel)
IT WAS memories of fishing with his brother in a stream where caddis lavae would grow that inspired Simon Harrison’s Caddis Cascade collection. The pieces feature crystals, tightly packed together as they gently cascade from ears, necks and fingers – capturing and throwing back light as they go. Nottingham-born Harrison, who makes the catwalk jewellery for Vivienne Westwood, found his big break when he took a case of buttons in to Jean Muir, who then kept on ordering them.
(June 27, ‘10, IDEX Online Staff Reporter)
Nearly 100 jewelry items from jewelry designers across the U.S. were showcased to jewelry editors and stylists, unveiling the newest jewelry trends that consumers will find in American stores later this year. Among them are blackened sterling silver jewelry, golden Philippine South Sea pearls, 22- and 24-karat yellow gold and saturated colored gemstones.
The sale of a $490,000 Greubel Forsay timepiece at Greenwich, Conn.'s Manfredi Jewels made headlines in April. Store owner Roberto Chiappelloni says that the town is very well fed by Wall Street, and strong bonuses this year have helped out at the sales counter.
(June 29, ’10, Catherine Dayrit)
New York–Consumer news outlets have been abuzz this year with reports of the luxury consumer’s return, with one story heralding an upscale Connecticut jeweler’s sale of a $490,000 watch, a ticket that would hardly have made headlines three years ago, back when consumers with money to burn–or credit cards to max out—still spent eagerly.
Zaiken Jewelry's "Five Pillars" 14-karat hand hammered satin gold (right) with assorted tourmaline; ZaikenJewelry.com. Lika Behar "Roma" ring in 24-karat yellow gold and oxidized silver with 20.80-carat oval milky aquamarine and 0.12 carats of diamonds; suggested retail prices are $2,350 and $1,930, respectively.
(June 28, ’10, National Jeweler’s Color Market Reports)
New York–From Christine Brandt’s amazonite ring on hand-carved olive wood to Jewelmer’s dramatic golden South Sea pearl necklace, many of the standout styles splayed out for editors at Jewelry Information Center (JIC)’s 2011 trend preview luncheon were of the colored gemstone variety.
(June 29, ’10, Julia Neel)
Harry Winston Diamond Corporation secured a $100 million revolving credit facility, the company said on Thursday. According to Chairman Robert Gannicott, there is “no ‘normal-course’ need” for the debt facility.
The three year facility with Standard Chartered Bank bears a 3.5 percent interest rate and has two one-year extensions. The credit line is available to the company and to Harry Winston Diamond Mines Ltd. for general corporate purposes.
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