(Oct 24, ‘14, National Jeweler)
Stamford, Conn.–Synchrony Financial is the latest organization to release its forecast for the holiday season, and it predicts single-digit growth in the same range as the NRF and Deloitte.
Synchrony (formerly GE Capital Retail Finance) said Thursday that it expects holiday sales to grow 3.5 percent year-over-year, an estimate that is line with the 10-year historical average of 3 percent.
(Oct 28, ‘14, National Jeweler)
New York–As the most important sales time of the year, the holiday season is crucial for pulling customers in and interacting with them in order to generate sales.
Innovative, intriguing events can not only attract new customers and bring in existing customers, but engage them in a way that will keep the store front of mind. National Jeweler talked to five retailers across the country about the events they came up with to do just that.
(Oct 28, ‘14, National Jeweler)
Washington, D.C.–A lab-grown diamond company announced Monday that it is now producing high-quality 2-carat diamonds and expects to be growing 3-carat stones by early 2015.
The International Gemological Institute has certified both a round brilliant, 2.03-carat E, VS2 and a 2.21-carat princess-cut E, SI2 stone from Washington Diamonds Corp., the company said.
(Oct 23, ‘14, National Jeweler)
New York–A cushion-cut, L color, VS2 diamond weighing 101.36 carats sold for $5 million, or $49,100 per carat, during Christie’s Important Jewels auction held Wednesday.
The auction house’s sale, which took place in New York, totaled $33.7 million. It was only 75 percent sold by lot and 77 percent sold by value.
(Oct 5, ‘14, JCK Online)
With retailing’s most hectic season upon us, who could blame you for pushing “decorate the store” to the bottom of the to-do list? But your shop’s image and ambience are particularly crucial during the holidays: Foot traffic is at its peak, and your floor is teeming with impressionable first-time shoppers. A store swathed in elegant holiday decor makes for a more enjoyable shopping experience—encouraging consumers to spend.
Big-box stores have design armies to festoon their buildings in sparkly splendor. But many overtaxed small retailers rely on dated, generic decorations, instead of seizing an opportunity to thrill shoppers’ senses.
(Oct 29, ‘14, JCK Online)
Rio Tinto’s Argyle Pink Diamonds Tender, which closed bids on Oct. 8, was the most successful since the tender’s founding in 1984.
The tender drew 600 bids, and successful bids came from 10 countries. Rio Tinto keeps prices confidential, but it did reveal that overall prices for the Argyle mine’s signature pink diamonds have more than tripled since 2000.
(Oct 28, ‘14, JCK Online)
The decision by eight important industry groups to boycott the upcoming World Diamond Council meeting in Antwerp is a huge black eye to the industry—and if there isn’t a serious attempt to ratchet tensions downward, it will have negative, far-reaching repercussions. The World Diamond Council is one of the most important groups in the industry—maybe even the most important—but it may find it difficult to represent the industry after a fiasco like this.
(Oct 28, ‘14, The Israeli Diamond Industry)
The World Federation of Diamond Bourses (WFDB), together with seven other major diamond industry umbrella organizations, announced today (Tusday) that it is withdrawing its participation in the upcoming World Diamond Council Annual General Meeting that is to take place later this week, starting on October 28, in Antwerp, Belgium.
(Oct 21, ‘14, National Jeweler)
New York–On Monday, Jewelers Mutual’s loss prevention team hosted “Social Media: Opportunities and Perils for Jewelers,” a webinar designed to teach jewelers how to use social media to their advantage without making their store a target for criminals.
The company invited two leading social media experts to offer lessons in promoting jewelry businesses online–Shane O’Neill, vice president of Fruchtman Marketing, and Daniel Gordon, a fourth-generation jeweler and the social media planner for the Diamond Cellar in Ohio.
Since it can’t be expected that jewelers have a presence in all social media outlets, O’Neill said that jewelers should consider a few factors when deciding which to use, keeping the store’s security top of mind.
(Oct 22, ‘14, WatchPro)
Richemont Group has successfully forced Britain’s largest Internet Service Providers to block access to websites selling counterfeit goods in London’s High Court.
The same tactic has already been successfully employed by film studios and record labels to prevent the distribution of pirated films and music.
The ruling against BT, Virgin Media, Sky, TalkTalk and EE will see customer access to seven websites that infringe Richemont trademarks, including Cartier, Montblanc, Van Cleef & Arpels and IWC blocked.