(Dec 10 ‘14, National Jeweler)
London–Gemfields’ auction of predominantly higher-quality rough rubies from its Montepuez mine in Mozambique totaled $43.3 million, a record total for the company propelled by the sale of a big, rare ruby it recently found.
The auction, which took place Dec. 3 to 8 in Singapore, also realized a $689 per-carat price, also a record for Gemfields.
(Dec 10 ‘14, JCK Online)
Working at a jewelry store doesn’t seem like preparation to work for Apple, but now it might be.
Apple is recruiting retail salespeople with a fashion or luxury background to sell its new Apple Watch, according to a report in 9to5 Mac, which quotes internal hiring documents.
The current head of the Apple stores, Angela Ahrendts, has both a fashion and luxury background, having served as CEO of Burberry.
(Dec 4 ‘14, National Jeweler)
Carlstadt, N.J.–“Marsala,” a robust and earthy wine red, is Pantone’s 2015 Color of the Year, the color institute announced Thursday morning.
“Much like the fortified wine that gives Marsala its name, this tasteful hue embodies the satisfying richness of a fulfilling meal, while its grounding red-brown roots emanate a sophisticated, natural earthiness. This hearty-yet-stylish tone is universally appealing and translates easily to fashion, beauty, industrial design, home furnishings and interiors,” said Leatrice Eiseman, executive director of the Pantone Color Institute.
(Dec 5 ‘14, JCK Online)
Scott Kay, one of the most prominent and celebrated designers in the jewelry business, died of a heart attack on Dec. 4. He was 57.
He is survived by his three children and Regina, his wife of nearly 30 years.
The shocking and untimely death of the trailblazing designer comes at a time when his three-decades-old company was reinvigorating itself. It had hired a CEO and was beefing up its C-suite with an impressive roster of industry talent. Kay had moved up to company chairman, hoping to concentrate on designing and had hinted of other major announcements.
(Dec 3 ‘14, JCK Online)
EGL International, the lab that has become a flash point in the dispute over diamond grading, is shutting down, says Menahem Sevdermish, the EGL network’s new global manager.
The Ramat Gan, Israel–based lab will “soon cease to exist,” Sevdermish says, with the “International” brand name being phased out.
EGL International CEO Guy Benhamou did not return a request for comment at press time.
(Dec 1 ‘14, JCK Online)
A Florida jewelry manufacturer is serving as the plaintiff for a class-action suit that claims the prices of platinum and palladium have been manipulated to enrich certain banks and dealers.
In a complaint filed Nov. 25 in New York federal court, Sarasota-based Modern Settings charges that the three banks and one metals dealer that set the prices via twice-daily teleconferences have used the process for their own ends.
(Nov 26 ‘14, JCK Online)
We’re, uh, No. 1.
In an effort to sniff out the best deals on Black Friday, personal finance site WalletHub combed through 22 mass-merchant circulars. It will not shock JCK readers that jewelry was the most heavily discounted category, with an average 58 percent price cut.
The books, movies, and music category came in second. But those products are under siege from streaming and other digitial formats. With jewelry likely headed for a good holiday, what’s our excuse?
(Dec 1 ‘14, National Jeweler)
New York–On a weekend usually overshadowed by big-box frenzy, fine jewelry held its own in the days following–or, in some cases, on–Thanksgiving.
On Monday morning, independent jewelers generally reported a surprisingly strong Black Friday weekend, led by sales of diamond goods and luxury watches. Neiman Marcus reported strength in fine jewelry sales as well, as did Dallas department store Stanley Korshak.
(Dec 3 ‘14, National Jeweler)
London–Gemstone miner Gemfields discovered a 40.23-carat ruby–which it has called “one of the most important rubies unearthed in recent times”–at its Montepuez ruby deposit in Mozambique.
The Gübelin Gem Lab in Switzerland has appraised the piece of rough ahead of Gemfields’ December auction in Singapore, with Gübelin Managing Director Daniel Nyfeler noting in a statement that, “Although difficult to judge in the rough state, the transparency and color of the crystal indicate an important gemstone might be cut from this piece of rough. We are looking forward to following the development of this remarkable rough from its current state to a cut gem.”
(Nov 20 ‘14, National Jeweler)
Mumbai–Diamond manufacturer Kiran Gems is partnering with the Smile Foundation to bring quality education to underprivileged children in India through the Mission Education program.
The collaboration will begin with the support of 100 girls across the country. Kiran will be investing in their education and healthcare for the coming academic session.