News from the Gem & Jewelry Industry
Tiffany promises more transparency for diamonds -
Forbes notes that Tiffany 'will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.' As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. The 183-year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin.
(Image courtesy of TIffany.)
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Forbes notes that Tiffany 'will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.' As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. The 183-year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin.
(Image courtesy of TIffany.)
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Jeweler loses 40 yr old engagement ring & wedding band during routine inspection -
A diamond is forever. At least that's the hope, especially when it comes to your engagement ring and wedding band from your special day. When you take those rings to a jeweler for repair or inspection, you trust nothing will happen to your rings. However, for Peggy Bell that was not the case after the jeweler lost her rings. "These rings are special rings. 40 years!"
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A diamond is forever. At least that's the hope, especially when it comes to your engagement ring and wedding band from your special day. When you take those rings to a jeweler for repair or inspection, you trust nothing will happen to your rings. However, for Peggy Bell that was not the case after the jeweler lost her rings. "These rings are special rings. 40 years!"
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Natural all-diamond rind is a GIA first -
A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation. The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal. A customer recently submitted the piece to the organization’s New York laboratory. Read More
A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation. The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal. A customer recently submitted the piece to the organization’s New York laboratory. Read More
Brace yourself: It's Ambani vs Amazon now -
Jeff Bezos regards India as a key frontier for Amazon, particularly after failing to break into China. Now he faces a homegrown champion backed by some of his fiercest U.S. rivals. Amazon.com Inc. has begun making forays into everything from grocery delivery and insurance to drugs in India, setting up a monumental clash with Mukesh Ambani’s hard-charging Jio Platforms.
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Jeff Bezos regards India as a key frontier for Amazon, particularly after failing to break into China. Now he faces a homegrown champion backed by some of his fiercest U.S. rivals. Amazon.com Inc. has begun making forays into everything from grocery delivery and insurance to drugs in India, setting up a monumental clash with Mukesh Ambani’s hard-charging Jio Platforms.
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Sotheby"s worldwide chairman exits -
Two senior jewelry executives have recently stepped down from their roles. David Bennett, the company's chief auctioneer and worldwide jewelry chairman, retired earlier this summer following a 42-year career. During his time with the auction house, Bennett was named among the top 10 most powerful people in the art world by Art & Auction magazine. As auctioneeer for Sotheby's, he presided over several record-breaking sales. Read More
Two senior jewelry executives have recently stepped down from their roles. David Bennett, the company's chief auctioneer and worldwide jewelry chairman, retired earlier this summer following a 42-year career. During his time with the auction house, Bennett was named among the top 10 most powerful people in the art world by Art & Auction magazine. As auctioneeer for Sotheby's, he presided over several record-breaking sales. Read More
Something new: $6,000 diamond face masks for bride & groom - Diamond-studded face masks are becoming the latest fashion craze in Covid-hit India. They're popular with wedding couples, who will pay up to $6,000 for a washable N95 mask encrusted with real diamonds. Masks with lab-grown diamonds start at around $800. Lockdown means the number of guests is limited, so there's more money available to add some coronavirus-inspired sparkle, and the novelty factor is a creative way for jewelers to create extra demand in a depressed market. Read More
Updated bible of lab-grown diamonds -
The "bible" of lab-grown diamonds is being republished to update jewelers, traders and consumers. Authors Dusan Simic and Branko Deljanin have revised existing content and added 50 pages since the last edition and aim to present complex technical information in an easy-to-understand format. "This book is unique in our industry. To the best of our knowledge, nobody else has written on these subjects. We are able to present often complicated terminology and technical details in simple terms that jewelers, traders and consumers can easily understand." Read More
The "bible" of lab-grown diamonds is being republished to update jewelers, traders and consumers. Authors Dusan Simic and Branko Deljanin have revised existing content and added 50 pages since the last edition and aim to present complex technical information in an easy-to-understand format. "This book is unique in our industry. To the best of our knowledge, nobody else has written on these subjects. We are able to present often complicated terminology and technical details in simple terms that jewelers, traders and consumers can easily understand." Read More
Call to slash India's import duty on polished diamonds -
India's ailing diamond industry is calling for a huge cut in the duty charged on its polished imports. It's also requesting "direct" rough purchases to reduce costs, rather than being forced to buy through middlemen in Antwerp, and a package of other measures relating to e-commerce and gold monetization. The Gem and Jewellery Export Promotion Council (GJEPC) says the import duty on polished diamonds should be slashed from 7.5 per cent to 2.5 per cent, to kickstart the industry after COVID-19. Read More
India's ailing diamond industry is calling for a huge cut in the duty charged on its polished imports. It's also requesting "direct" rough purchases to reduce costs, rather than being forced to buy through middlemen in Antwerp, and a package of other measures relating to e-commerce and gold monetization. The Gem and Jewellery Export Promotion Council (GJEPC) says the import duty on polished diamonds should be slashed from 7.5 per cent to 2.5 per cent, to kickstart the industry after COVID-19. Read More
Coronavirus updates: impact on the diamond trade -
Timeline of Covid-19 related news affecting the industry: The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. In this Rapaport News article, they present a one-stop, running news feed on industry events impacted by the virus.
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Timeline of Covid-19 related news affecting the industry: The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. In this Rapaport News article, they present a one-stop, running news feed on industry events impacted by the virus.
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Dubai boost for lab-grown diamonds -
Dubai is expanding its lab-grown sector by welcoming Lumex to its diamond hub. Lumex was founded in 2018 by the Mehta family, owners of the Rosy Blue empire, and produces diamonds up to two carats. The Dubai Multi Commodities Centre (DMCC) is keen to grow both its mined and lab-grown sectors, with safeguards to ensure the stones remain separate.
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Dubai is expanding its lab-grown sector by welcoming Lumex to its diamond hub. Lumex was founded in 2018 by the Mehta family, owners of the Rosy Blue empire, and produces diamonds up to two carats. The Dubai Multi Commodities Centre (DMCC) is keen to grow both its mined and lab-grown sectors, with safeguards to ensure the stones remain separate.
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Interview with Mr. Lieou, the man putting cool back into jewels -
Meet Mr. Lieou, the accomplished young designer who left his creative role at Tiffany & Co to concentrate on his own brand. Nicholas Lieou founded his brand Mr Lieou in 2019 and from the word go, it was clear that the designer had already immersed himself in the best the world of jewellery has to offer. Born in Hong Kong, Nicholas’ international education at the German Swiss School spurred him to look further afield to jewellery studies first at Central Saint Martin’s and the Royal College of Art in London and then at the Fashion Institute of Technology and the GIA in New York.
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Meet Mr. Lieou, the accomplished young designer who left his creative role at Tiffany & Co to concentrate on his own brand. Nicholas Lieou founded his brand Mr Lieou in 2019 and from the word go, it was clear that the designer had already immersed himself in the best the world of jewellery has to offer. Born in Hong Kong, Nicholas’ international education at the German Swiss School spurred him to look further afield to jewellery studies first at Central Saint Martin’s and the Royal College of Art in London and then at the Fashion Institute of Technology and the GIA in New York.
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Why now is the best time to invest in luxury -
Daniel Langer of Jing Daily writes: The massive disruption shaking up the luxury sector right now calls for unprecedented action. "I’ve taken a moment to reflect on the lessons luxury brands must take away from the past calendar year, and what they might mean for them in the future."
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Daniel Langer of Jing Daily writes: The massive disruption shaking up the luxury sector right now calls for unprecedented action. "I’ve taken a moment to reflect on the lessons luxury brands must take away from the past calendar year, and what they might mean for them in the future."
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Jewelers see positive signs as business restarts -
As US retailers struggle to pick up the pieces after the coronavirus shutdowns, many are hopeful that a recovery is on its way. Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis the virus has left in its wake.
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As US retailers struggle to pick up the pieces after the coronavirus shutdowns, many are hopeful that a recovery is on its way. Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis the virus has left in its wake.
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Diamond giant develops low-cost COVID-19 ventilator -
Subsidiaries of the Indian diamond giant Dharmanandan have developed a low-cost ventilator to save the lives of COVID-19 patients. The device costs under $3,500. Dharmanandan, with a $1bn annual turnover, developed the Respiwin device in just five months through its Dharmanandan Research Centre (DRC) Techno and InnovSeed company.
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Subsidiaries of the Indian diamond giant Dharmanandan have developed a low-cost ventilator to save the lives of COVID-19 patients. The device costs under $3,500. Dharmanandan, with a $1bn annual turnover, developed the Respiwin device in just five months through its Dharmanandan Research Centre (DRC) Techno and InnovSeed company.
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Day-trip mom finds 2.23-ct brown diamond -
A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone. Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day. She unearthed the biggest diamond this year and is allowed to keep it under rules of the state-owned park. Read More
A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone. Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day. She unearthed the biggest diamond this year and is allowed to keep it under rules of the state-owned park. Read More
India's economic recovery more likely to be 'U' or 'W' shaped, not 'V': analysts -
India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of COVID-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said. "Before the onset of COVID, Indian economy had slowed down to 4.5 per cent GDP growth, not participating in the global resurgence of 2018 and 2019," Centrum Institutional Research said in a report. Read More
India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of COVID-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said. "Before the onset of COVID, Indian economy had slowed down to 4.5 per cent GDP growth, not participating in the global resurgence of 2018 and 2019," Centrum Institutional Research said in a report. Read More
Where do we go from here? -
The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The world is a different place than it was pre-pandemic, and the changes are likely to remain after things return to some version of normalcy, however long that takes.
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The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The world is a different place than it was pre-pandemic, and the changes are likely to remain after things return to some version of normalcy, however long that takes.
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A look at protective jewelry -
Native American children were given turtle amulets to protect themselves from illness and promote longevity. It is one of four examples of protective jewelry NJ Associate Editor Lenore Fedow explores: For as long as we’ve believed in bad luck and curses, we’ve also believed there were ways to protect ourselves, and those included wearing jewelry. Read More
Native American children were given turtle amulets to protect themselves from illness and promote longevity. It is one of four examples of protective jewelry NJ Associate Editor Lenore Fedow explores: For as long as we’ve believed in bad luck and curses, we’ve also believed there were ways to protect ourselves, and those included wearing jewelry. Read More
RJC marks 15 years strengthening consumer confidence & welcomes new members at 2020 AGM -
The Responsible Jewellery Council (RJC) marked its 15- year milestone strengthening consumer confidence for the global jewellery industry at its virtual Annual General Meeting (AGM) this week. The world’s leading standard setting organisation for the entire jewellery and watch supply chain celebrated its 15-year anniversary by launching a new website, and publishing its Progress Report for May 2020 to coincide with the virtual AGM held on 20 May. Read More
The Responsible Jewellery Council (RJC) marked its 15- year milestone strengthening consumer confidence for the global jewellery industry at its virtual Annual General Meeting (AGM) this week. The world’s leading standard setting organisation for the entire jewellery and watch supply chain celebrated its 15-year anniversary by launching a new website, and publishing its Progress Report for May 2020 to coincide with the virtual AGM held on 20 May. Read More
What does the new security law mean for Hong Kong retail? - China’s largest political event of the year, known as Two Sessions, took place in Beijing after a two-month delay due to the COVID-19 crisis. Beyond measures to deal with the economic destruction left by the virus, the government also introduced a new security law targeting terrorist activity in Hong Kong, which prohibits acts of sedition, subversion, and secession, as well as foreign interference in Hong Kong’s affairs. Read More
Alrosa cuts 2020 production plan -
Alrosa is set for its lowest annual rough-diamond production in at least a decade, after the Russian miner reduced its outlook by up to 6 million carats due to the weak market. The company now expects to produce 28 million to 31 million carats this year, compared with an earlier plan of around 34 million carats. It will achieve this by shutting mines containing lower-priced diamonds that offer thin profit margins, thereby avoiding an inventory buildup in categories for which there is currently weak demand. Read More
Alrosa is set for its lowest annual rough-diamond production in at least a decade, after the Russian miner reduced its outlook by up to 6 million carats due to the weak market. The company now expects to produce 28 million to 31 million carats this year, compared with an earlier plan of around 34 million carats. It will achieve this by shutting mines containing lower-priced diamonds that offer thin profit margins, thereby avoiding an inventory buildup in categories for which there is currently weak demand. Read More
JBT appoints new chairman -
The Jewelers Board of Trade has chosen Ann Arnold, chief strategy officer for Buyers Intelligence Group, to head its board of directors. Arnold, who was appointed at the company’s April board meeting, has volunteered with the JBT for nearly 12 years, and previously served as vice chairman. She will succeed outgoing chair Mike Kaplan. Arnold has also been chairman and treasurer of Manufacturing Jewelers & Suppliers of America, treasurer of the New York 24 Karat Club, and president of the Women’s Jewelry Association. Read More
The Jewelers Board of Trade has chosen Ann Arnold, chief strategy officer for Buyers Intelligence Group, to head its board of directors. Arnold, who was appointed at the company’s April board meeting, has volunteered with the JBT for nearly 12 years, and previously served as vice chairman. She will succeed outgoing chair Mike Kaplan. Arnold has also been chairman and treasurer of Manufacturing Jewelers & Suppliers of America, treasurer of the New York 24 Karat Club, and president of the Women’s Jewelry Association. Read More
Christie's most valuable ever online lot -
Christie's is auctioning its most valuable ever lot online - a spectacular type IIa 28.86-carat diamond with a guide price of up to $2m. The incredibly rare, near-flawless, emerald-cut stone is VVS1 clarity, and the largest D-color stone Christie's has ever offered in an online-only sale. The auctioneers say increased online interest has encouraged them to offer more valuable items in their monthly sales. "Year-over-year, we have seen an increase in online participation and the value threshold for transacting online," said Rahul Kadakia, international head of jewelry. Read More
Christie's is auctioning its most valuable ever lot online - a spectacular type IIa 28.86-carat diamond with a guide price of up to $2m. The incredibly rare, near-flawless, emerald-cut stone is VVS1 clarity, and the largest D-color stone Christie's has ever offered in an online-only sale. The auctioneers say increased online interest has encouraged them to offer more valuable items in their monthly sales. "Year-over-year, we have seen an increase in online participation and the value threshold for transacting online," said Rahul Kadakia, international head of jewelry. Read More
The un-masking of Beatrice Matiash -
From starting out making beads as a young teen, to establishing her own successful jewelry and apparel company, to now making face masks to help out in this time of pandemic crisis, the remarkable journey of Beatrice Matiash has been both innovative and colorful. “I have always loved color and jewelry,” says Beatrice Matiash, founder of Tashka by Beatrice. “As a young teen, I made beads which I sold to a bead store in Soho, New York City. In high school, I created a ‘bead company,’ which won the competition for an economics class project.”
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From starting out making beads as a young teen, to establishing her own successful jewelry and apparel company, to now making face masks to help out in this time of pandemic crisis, the remarkable journey of Beatrice Matiash has been both innovative and colorful. “I have always loved color and jewelry,” says Beatrice Matiash, founder of Tashka by Beatrice. “As a young teen, I made beads which I sold to a bead store in Soho, New York City. In high school, I created a ‘bead company,’ which won the competition for an economics class project.”
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India's cutting sector faces decades-low sales -
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned. Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated. This compares to approximately $19 billion in the fiscal year that just ended, it added.
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India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned. Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated. This compares to approximately $19 billion in the fiscal year that just ended, it added.
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Gem carving: getting into the groove -
The ancient technique of gem carving is alive and well today, creating valuable jewels that stand out. Like all rare art forms, gemstone carving has a rich history — beginning in ancient China, it came into its own during Mughal rule in South Asia, and its appeal continues today. Every season, the stories of carved gems are chronicled by auction houses, museums, high-jewelry brands and designers.
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The ancient technique of gem carving is alive and well today, creating valuable jewels that stand out. Like all rare art forms, gemstone carving has a rich history — beginning in ancient China, it came into its own during Mughal rule in South Asia, and its appeal continues today. Every season, the stories of carved gems are chronicled by auction houses, museums, high-jewelry brands and designers.
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Alrosa boss sells half his shares to fight coronavirus -
The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus. The sale of Sergey Ivanov’s shares raised RUB18.5m ($240,000) and will help counter the spread of Covid-19 in the Siberian town of Mirny.
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The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus. The sale of Sergey Ivanov’s shares raised RUB18.5m ($240,000) and will help counter the spread of Covid-19 in the Siberian town of Mirny.
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HKTDC's Spring Virtual Expo -
The COVID-19 outbreak has impacted business activity across the globe with exhibitions being postponed or even cancelled. Adapting to this new reality, the Hong Kong Trade Development Council is deploying technology and online platforms to connect businesses around the world with a Spring Virtual Expo. Read More
The COVID-19 outbreak has impacted business activity across the globe with exhibitions being postponed or even cancelled. Adapting to this new reality, the Hong Kong Trade Development Council is deploying technology and online platforms to connect businesses around the world with a Spring Virtual Expo. Read More
Don't expect a crisis to be good for gold -
Central banks have a shrinking appetite for the metal. If they turn net sellers, the recent rally could come to a halt. Russia’s central bank, one of the world’s largest gold buyers in recent years, is halting all purchases of the metal. It’s not alone: Uzbekistan and Kazakhstan, whose central banks have also been reliable consumers of late, have also slowed down.
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Central banks have a shrinking appetite for the metal. If they turn net sellers, the recent rally could come to a halt. Russia’s central bank, one of the world’s largest gold buyers in recent years, is halting all purchases of the metal. It’s not alone: Uzbekistan and Kazakhstan, whose central banks have also been reliable consumers of late, have also slowed down.
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Analysis: ASM, responsible sourcing & COVID-19 -
On 7th January officials in China announced that a new virus, COVID-19, had been identified. Since then the world has changed more than we could have dared to imagine. Whilst more developed countries have so far witnessed the fastest spread and highest mortality, an intensification of the crisis in less developed countries appears to be unavoidable. Most countries are therefore putting in place measures to “flatten the curve.” Read More
On 7th January officials in China announced that a new virus, COVID-19, had been identified. Since then the world has changed more than we could have dared to imagine. Whilst more developed countries have so far witnessed the fastest spread and highest mortality, an intensification of the crisis in less developed countries appears to be unavoidable. Most countries are therefore putting in place measures to “flatten the curve.” Read More
Govt. allows mining at Argyle to continue -
Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic. The company has received full approval from the Western Australian state government to continue its production operations prior to the mine’s expected end of life later this year. Operations are also in full swing at Diavik, the Canadian site Rio Tinto owns together with Dominion Diamond Mines.
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Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic. The company has received full approval from the Western Australian state government to continue its production operations prior to the mine’s expected end of life later this year. Operations are also in full swing at Diavik, the Canadian site Rio Tinto owns together with Dominion Diamond Mines.
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Kimberley Process plans to digitize its certificates - The Kimberley Process (KP) is trialing the use of digital certificates for rough-diamond shipments, claiming the method will increase efficiency and reduce fraud. Russia, which is chairing the global certification scheme this year, will test the idea with exports to select countries. Participating nations will identify officials whose electronic signatures will be valid for confirming a KP certificate’s legitimacy. Read More
Sotheby's online sale exceeds expectations - Sotheby’s garnered $739,375 from its Jewels Online sale, beating its high estimate of $671,600 for the auction. “In this unprecedented moment, collectors were determined to compete for beautiful jewels in Wednesday’s sale, which earned our best sell-through rate to date for any online jewelry auction,” Kendall Reed, Sotheby’s head of online jewels, said.
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Pandora bolsters marketing team amid reorganization - Copenhagen, Denmark—Pandora added three new faces to its marketing team as part of its multi-pronged strategic reorganization, announced earlier this month. The reorganization plans included closing its regional offices, bolstering retail skills, strengthening tech and data analytics capabilities and separating old business from newer ventures.
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Interview with Martin Rapaport -
Martin Rapaport (pictured) lowered prices on the March 20 edition of his widely watched price list by an average of 7%, leading some companies to pull their inventory from RapNet, his online listing service. Afterward, following a vote of RapNet members, he agreed to suspend publication of his price list until May 1. In a candid interview from his home in Israel, Rapaport discusses whether the boycott has hurt his business, his view of his list’s role, and if he agrees he has too much power.
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Martin Rapaport (pictured) lowered prices on the March 20 edition of his widely watched price list by an average of 7%, leading some companies to pull their inventory from RapNet, his online listing service. Afterward, following a vote of RapNet members, he agreed to suspend publication of his price list until May 1. In a candid interview from his home in Israel, Rapaport discusses whether the boycott has hurt his business, his view of his list’s role, and if he agrees he has too much power.
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How retailers can stay successful when face-to-face marketing is affected -
As coronavirus spreads, companies are taking preventive measures to try to keep their employees safe. But with these measures, day-to-day business processes – including manufacturing, marketing, and selling – are being put to the test. Read More
As coronavirus spreads, companies are taking preventive measures to try to keep their employees safe. But with these measures, day-to-day business processes – including manufacturing, marketing, and selling – are being put to the test. Read More
Costco sells $600,000 engagement ring -
Someone bought a diamond ring from Costco for $600,000. Richard Galanti, chief financial officer for the company, talked about the purchase in an earnings call last week, explaining that “we recently sold another high-value large-carat diamond for a little over $600,000.” He then added: “If anyone is interested, please give me a call.”
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Someone bought a diamond ring from Costco for $600,000. Richard Galanti, chief financial officer for the company, talked about the purchase in an earnings call last week, explaining that “we recently sold another high-value large-carat diamond for a little over $600,000.” He then added: “If anyone is interested, please give me a call.”
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Jewelers in quarantine: designers send out messages of love and support -
Quarantine is nothing if not personal. For weeks (or maybe months) most of us will be surrounded by little else save our furniture, personal effects and—for those of us who live with family or friends—loved ones. As jewelry designers, like the rest of us, have quarantined themselves to help combat the spread of the coronavirus, many have sent out sweet, supportive, and often wistful letters to their fans, followers, and friends—updating them on their plans, personal lives, and state of their businesses. Click to see messages sent out by jewelry brands and designers. Read More
Quarantine is nothing if not personal. For weeks (or maybe months) most of us will be surrounded by little else save our furniture, personal effects and—for those of us who live with family or friends—loved ones. As jewelry designers, like the rest of us, have quarantined themselves to help combat the spread of the coronavirus, many have sent out sweet, supportive, and often wistful letters to their fans, followers, and friends—updating them on their plans, personal lives, and state of their businesses. Click to see messages sent out by jewelry brands and designers. Read More
Coronavirus: AGS halts all diamond grading -
AGS Laboratories has suspended all diamond grading for a month, because of coronavirus. The facility in Las Vegas, Nevada, has been forced to close in a bid by the state governor to halt the spread of Covid-19. All "non-essential businesses" are included in the closure order, which became effective yesterday and which will remain in place for at least a month. The American Gem Society (AGS) headquarters will still function during normal office hours, staffed remotely. Read More
AGS Laboratories has suspended all diamond grading for a month, because of coronavirus. The facility in Las Vegas, Nevada, has been forced to close in a bid by the state governor to halt the spread of Covid-19. All "non-essential businesses" are included in the closure order, which became effective yesterday and which will remain in place for at least a month. The American Gem Society (AGS) headquarters will still function during normal office hours, staffed remotely. Read More
2020 JCK Las Vegas , Luxury shows will be postponed -
The 2020 edition of JCK Las Vegas, America’s largest jewelry trade show, as well as sister show Luxury, will be postponed until later in the year, according to show organizer Reed Exhibitions and the Reed Jewelry Group. Reed said it was still working out new dates for the show and hopes to have news on that “shortly.” The move was made as a precautionary measure to prevent the spread of the new coronavirus (COVID-19). Reed’s complete statement can be read by following the link to JCK Online:
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The 2020 edition of JCK Las Vegas, America’s largest jewelry trade show, as well as sister show Luxury, will be postponed until later in the year, according to show organizer Reed Exhibitions and the Reed Jewelry Group. Reed said it was still working out new dates for the show and hopes to have news on that “shortly.” The move was made as a precautionary measure to prevent the spread of the new coronavirus (COVID-19). Reed’s complete statement can be read by following the link to JCK Online:
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Italy's coronavirus lock down is set to rock the luxury retail industry - The luxury fashion industry is still seeing the impact of COVID-19. Although Vogue Business reports that more than 80% of shopping malls and supermarkets have reopened in major Chinese cities including Beijing, Shanghai, and Guangzhou, Italy is now bracing for the impact the coronavirus will have on its economy and 60 million inhabitants.
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Coronavirus pummels Chow Tai Fook's sales -
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42% in mainland China in the first two months of the year as stores shut for much of the period. “In response to the measures of local governments [to contain] the spread of [the] COVID-19 virus, the majority of our points of sale in mainland China were temporarily closed since late January 2020, and Hong Kong and Macau from early February,” the jeweler said. “Businesses in both markets were inevitably affected during the period.” Read More
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42% in mainland China in the first two months of the year as stores shut for much of the period. “In response to the measures of local governments [to contain] the spread of [the] COVID-19 virus, the majority of our points of sale in mainland China were temporarily closed since late January 2020, and Hong Kong and Macau from early February,” the jeweler said. “Businesses in both markets were inevitably affected during the period.” Read More
His and hers: gender fluid jewels for a new decade -
When Harry Styles stepped out on the red carpet at the BRIT awards in February 2020, he summed up the prevailing fashion mood perfectly. Dressed in a plum-coloured suit, lilac jumper (with coordinating nail polish) and scalloped poplin-collared shirt, his head-to-toe Gucci look was accessorised with a simple pearl necklace. Gasp – a man wearing pearls? He’s not the only one, either. At this year’s Grammys, Shawn Mendes and Jonas brothers Joe and Nick also opted for strings of pearls in what has to be the most unexpected jewellery trend of the year so far. The concept of gender-free jewellery is not new, but 2020 has seen a subtle shift from trend to something more permanent. Read More
When Harry Styles stepped out on the red carpet at the BRIT awards in February 2020, he summed up the prevailing fashion mood perfectly. Dressed in a plum-coloured suit, lilac jumper (with coordinating nail polish) and scalloped poplin-collared shirt, his head-to-toe Gucci look was accessorised with a simple pearl necklace. Gasp – a man wearing pearls? He’s not the only one, either. At this year’s Grammys, Shawn Mendes and Jonas brothers Joe and Nick also opted for strings of pearls in what has to be the most unexpected jewellery trend of the year so far. The concept of gender-free jewellery is not new, but 2020 has seen a subtle shift from trend to something more permanent. Read More
India's diamond exports may fall 20% as China battles coronavirus -
India’s diamond exports may decline by 20 per cent this financial year as global demand weakens because of travel and trade restrictions to prevent the spread of Coronavirus. Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) showed cut and polished diamonds worth $16.32 billion were exported between April 2019 and January 2020: a 17 per-cent fall compared to $19.61 billion between April 2018 and January 2019. Read More
India’s diamond exports may decline by 20 per cent this financial year as global demand weakens because of travel and trade restrictions to prevent the spread of Coronavirus. Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) showed cut and polished diamonds worth $16.32 billion were exported between April 2019 and January 2020: a 17 per-cent fall compared to $19.61 billion between April 2018 and January 2019. Read More
Mining under the spotlight to transition to renewable energy -
The impact of the energy transmission of the mining industry has been profound. It is one of the most energy-intensive industries in the world. It has also historically been a disproportionately large contributor to global warming, through the intensive use of fossil fuels to power operations. Read More
The impact of the energy transmission of the mining industry has been profound. It is one of the most energy-intensive industries in the world. It has also historically been a disproportionately large contributor to global warming, through the intensive use of fossil fuels to power operations. Read More
Study reveals the secret of magmatic rocks consisting of only one mineral -
Geologists from Wits University, in Johannesburg, South Africa, have come up with an original explanation of how nature may produce an intriguing class of magmatic rocks that are made up of only one type of mineral. The magmatic minerals are stored at great depth in the Earth and are delivered from there into the shallow intrusions close to the planet’s surface in the form of magmas. On cooling, these magmas crystallise to form rocks that are commonly composed of several types of minerals.
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Geologists from Wits University, in Johannesburg, South Africa, have come up with an original explanation of how nature may produce an intriguing class of magmatic rocks that are made up of only one type of mineral. The magmatic minerals are stored at great depth in the Earth and are delivered from there into the shallow intrusions close to the planet’s surface in the form of magmas. On cooling, these magmas crystallise to form rocks that are commonly composed of several types of minerals.
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Baselworld cancelled due to coronavirus -
Baselworld has called off this year’s fair after Swiss authorities banned large-scale events because of the coronavirus. Show organizer MCH Group has postponed the event — which had been scheduled to take place April 30 to May 5 in Basel, Switzerland — to January 28 to February 2, 2021. From then on, the fair will take place at the beginning of each year, in accordance with many participants’ requests, a Baselworld source told Rapaport News Sunday. Read More
Baselworld has called off this year’s fair after Swiss authorities banned large-scale events because of the coronavirus. Show organizer MCH Group has postponed the event — which had been scheduled to take place April 30 to May 5 in Basel, Switzerland — to January 28 to February 2, 2021. From then on, the fair will take place at the beginning of each year, in accordance with many participants’ requests, a Baselworld source told Rapaport News Sunday. Read More
China's diamond trade weighs virus effect -
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away, but for now, all they can do is manage a difficult situation. “There is always demand for diamonds in China, but currently consumers can’t go shopping, [as] hardly any shopping malls [are open],” said Lin Qiang, president of the Shanghai Diamond Exchange. Read More
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away, but for now, all they can do is manage a difficult situation. “There is always demand for diamonds in China, but currently consumers can’t go shopping, [as] hardly any shopping malls [are open],” said Lin Qiang, president of the Shanghai Diamond Exchange. Read More
Warning over laser treatment to lab-grown diamond -
Experts were surprised to find a lab-grown diamond that had been laser-treated to enhance clarity. It is believed to be the first reported case of an LGD having undergone a treatment associated only with mined stones. Researchers at the Gemological Science International laboratory in Mumbai, India, found the 4.5-ct stone had been drilled to clean out a black inclusion.
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Experts were surprised to find a lab-grown diamond that had been laser-treated to enhance clarity. It is believed to be the first reported case of an LGD having undergone a treatment associated only with mined stones. Researchers at the Gemological Science International laboratory in Mumbai, India, found the 4.5-ct stone had been drilled to clean out a black inclusion.
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Coronavirus forces another Hong Kong event to postpone -
Another Hong Kong event has been forced to re-schedule because of the coronavirus outbreak. The 9th AEC Gems & Jewelry Presidents' Summit, originally scheduled for 3 March, will now take place on 19 May. It will form a part of two other Hong Kong shows, which have both been postponed amid health fears.
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Another Hong Kong event has been forced to re-schedule because of the coronavirus outbreak. The 9th AEC Gems & Jewelry Presidents' Summit, originally scheduled for 3 March, will now take place on 19 May. It will form a part of two other Hong Kong shows, which have both been postponed amid health fears.
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Star Rays aims for carbon neutrality -
Diamond exporter Star Rays has set a goal to become India’s first carbon-neutral diamond company. Mumbai-based Star Rays will take part in CIBJO, The World Jewellery Confederation’s Greenhouse Gas Measuring and Offsetting Initiative, which holds carbon emissions and removals up to international standards. Read More
Diamond exporter Star Rays has set a goal to become India’s first carbon-neutral diamond company. Mumbai-based Star Rays will take part in CIBJO, The World Jewellery Confederation’s Greenhouse Gas Measuring and Offsetting Initiative, which holds carbon emissions and removals up to international standards. Read More
The guilt-free engagement ring is here -
When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced. After researching the jewelry industry, he decided to quit his job and start the brand Do Amore, which means “I give with love” in Latin. His girlfriend’s ring—structured with recycled rose gold and an oval diamond from Botswana—was one of the first Do Amore created. Read More
When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced. After researching the jewelry industry, he decided to quit his job and start the brand Do Amore, which means “I give with love” in Latin. His girlfriend’s ring—structured with recycled rose gold and an oval diamond from Botswana—was one of the first Do Amore created. Read More
List of jewelry industry trade events for 2020 -
Need to keep track of the jewelry industry’s many, many trade events? Here’s your resource: See INSTORE's list of more than 60 industry trade shows, including links to each event website. This list will be updated throughout the year, so check in frequently.
Does your event need to be added?
Email Barbara Moss at barbara@smartworkmedia.com
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Need to keep track of the jewelry industry’s many, many trade events? Here’s your resource: See INSTORE's list of more than 60 industry trade shows, including links to each event website. This list will be updated throughout the year, so check in frequently.
Does your event need to be added?
Email Barbara Moss at barbara@smartworkmedia.com
Read More
Larry West buys unique 6.21ct pink purple diamond
Collector Larry West has added a unique Siberian stone to his famed array of pink diamonds. He is now proud owner of a 6.21-carat cushion cut fancy intense pink purple diamond that was unearthed and polished by Alrosa. The stone, from Yakutia, a region in northeastern Siberia, came with an electronic passport that included a detailed visual history of its extraction and production. Read More
Collector Larry West has added a unique Siberian stone to his famed array of pink diamonds. He is now proud owner of a 6.21-carat cushion cut fancy intense pink purple diamond that was unearthed and polished by Alrosa. The stone, from Yakutia, a region in northeastern Siberia, came with an electronic passport that included a detailed visual history of its extraction and production. Read More
How the coronavirus is impacting the jewelry industry - Global health officials estimate the coronavirus outbreak is responsible for [more than] 1,300 deaths worldwide, and its effects are rippling through the global economy. The current outbreak originated in the Wuhan province of China with symptoms similar to the common cold. The disease is impacting industries worldwide, including luxury brands, which depend heavily on Chinese consumers today. Read More
RJC signs UN Gender Responsive Standards Declaration -
Responsible Jewellery Council – the global standard setting organisation for the jewellery supply chain - has strengthened its ongoing commitment to gender equality by signing the United Nations Economic Commission for Europe (UNECE) ‘Declaration on Gender Responsive Standards and Standard Development’. The UNECE’s Declaration is intended to help achieve gender equality, empower women and girls throughout jewellery supply chains. Read More
Responsible Jewellery Council – the global standard setting organisation for the jewellery supply chain - has strengthened its ongoing commitment to gender equality by signing the United Nations Economic Commission for Europe (UNECE) ‘Declaration on Gender Responsive Standards and Standard Development’. The UNECE’s Declaration is intended to help achieve gender equality, empower women and girls throughout jewellery supply chains. Read More
5 women's watches for the month of love -
It’s the awards season, a time when celebrities compete for attention with their eye-catching fashion and jewels. As more female stars are bringing timepieces onto the red carpet, here are our five favourite luxury watches that pay tribute to love, gemstones and the universe.
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It’s the awards season, a time when celebrities compete for attention with their eye-catching fashion and jewels. As more female stars are bringing timepieces onto the red carpet, here are our five favourite luxury watches that pay tribute to love, gemstones and the universe.
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Renee Newman launches revised Diamond Ring Buying Guide
A revised and updated 8th Edition of Renee Newman's Diamond Ring Buying Guide is now available. The revised and updated 8th edition, with 131 new photographs, has added chapters on silver and alternative metals, new information on lab-grown diamonds and diamond treatments, and updated information throughout the book. Unlike the Diamond Handbook which is geared to trade professionals, the Diamond Ring Buying Guide is directed to consumers and new jewelry salespeople. A book signing event was held in Tucson in early February at the booth of the National Association of Jewelry Appraisers (NAJA) at the AGTA GemFair.
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A revised and updated 8th Edition of Renee Newman's Diamond Ring Buying Guide is now available. The revised and updated 8th edition, with 131 new photographs, has added chapters on silver and alternative metals, new information on lab-grown diamonds and diamond treatments, and updated information throughout the book. Unlike the Diamond Handbook which is geared to trade professionals, the Diamond Ring Buying Guide is directed to consumers and new jewelry salespeople. A book signing event was held in Tucson in early February at the booth of the National Association of Jewelry Appraisers (NAJA) at the AGTA GemFair.
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Pandora vows to be carbon-neutral by 2025 -
Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers. From this year, the jeweler will use 100% renewable energy at its two manufacturing facilities in Thailand, which currently account for 52% of its emissions. Over time, it will source more of its own solar power and buy green energy for its stores, while purchasing carbon offsets to deal with the remaining 5% of unavoidable emissions. Read More
Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers. From this year, the jeweler will use 100% renewable energy at its two manufacturing facilities in Thailand, which currently account for 52% of its emissions. Over time, it will source more of its own solar power and buy green energy for its stores, while purchasing carbon offsets to deal with the remaining 5% of unavoidable emissions. Read More
Gold jewelry demand hits eight-year low -
Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported. Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand from rural sectors also led to the drop. Consumer sales were weaker during the important jewelry-buying Diwali holiday. Read More
Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported. Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand from rural sectors also led to the drop. Consumer sales were weaker during the important jewelry-buying Diwali holiday. Read More
Gold sheen sapphires: revisiting this new species -
Discovered in a remote part of Kenya about a decade ago, a new species of sapphire first came onto the market in 2014. Realizing the potential of these rough gems when he first saw them, Tanzim Khan, a Bangkok-based gem dealer, purchased the mine's entire production. Because of their unusual bronze sheen that exhibits a shimmering gold effect, Khan named this new gem "Gold Sheen Sapphires." Now six years later, GemScene takes a look at the evolution of these unusual gemstones. Read More
Discovered in a remote part of Kenya about a decade ago, a new species of sapphire first came onto the market in 2014. Realizing the potential of these rough gems when he first saw them, Tanzim Khan, a Bangkok-based gem dealer, purchased the mine's entire production. Because of their unusual bronze sheen that exhibits a shimmering gold effect, Khan named this new gem "Gold Sheen Sapphires." Now six years later, GemScene takes a look at the evolution of these unusual gemstones. Read More
World Diamond Council appoints new executive director -
Elodie Daguzan is to become the new Executive Director of the World Diamond Council (WDC), following the approval of her appointment by the organization’s Board of Directors. A French native, Ms. Daguzan is a 19-year veteran of the diamond industry, having filled a variety of roles in various sectors of the value chain. Over this period, she held positions at several of the most prestigious high-end jewelry brands, and for the past eight years has been Head of Communications and Industry Relations at Rubel & Ménasché, a Paris-based diamond trading company. Ms. Daguzan has represented the company in the WDC, serving as an active member of the Kimberley Process Task Force, and also of the Communications, Membership and Strategic Planning committees. She will begin her new role at the WDC on February 1, 2020. Read More
Elodie Daguzan is to become the new Executive Director of the World Diamond Council (WDC), following the approval of her appointment by the organization’s Board of Directors. A French native, Ms. Daguzan is a 19-year veteran of the diamond industry, having filled a variety of roles in various sectors of the value chain. Over this period, she held positions at several of the most prestigious high-end jewelry brands, and for the past eight years has been Head of Communications and Industry Relations at Rubel & Ménasché, a Paris-based diamond trading company. Ms. Daguzan has represented the company in the WDC, serving as an active member of the Kimberley Process Task Force, and also of the Communications, Membership and Strategic Planning committees. She will begin her new role at the WDC on February 1, 2020. Read More
Chow Tai Fook purchases Chinese retailer Enzo Jewelry, Inc. -
Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China. Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Read More
Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China. Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Read More
GIA examines Alrosa's Matryoshka diamond -
The Gemological Institute of America has proposed an explanation for how Alrosa's diamond-within-a-diamond came about. GIA’s team found that over a period of millions or billions of years, approximately 0.11 carats of diamond dissolved through two small channels that extended from the surface of the diamond to its inner cavity. The remaining diamond material created a 0.03-carat crystal that is entirely detached and moves freely within its outer diamond shell, the institute said. Read More
The Gemological Institute of America has proposed an explanation for how Alrosa's diamond-within-a-diamond came about. GIA’s team found that over a period of millions or billions of years, approximately 0.11 carats of diamond dissolved through two small channels that extended from the surface of the diamond to its inner cavity. The remaining diamond material created a 0.03-carat crystal that is entirely detached and moves freely within its outer diamond shell, the institute said. Read More
Phillip Gavriel shows new spring collection at Vicenzaoro -
At the Vicenzaoro jewelry trade show, Phillip Gavriel is debuting a new look. Bracelets in sterling silver with occasional pops of 18-karat or 14-karat yellow gold are the star of Phillip Gavriel’s spring 2020 ad campaign.
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At the Vicenzaoro jewelry trade show, Phillip Gavriel is debuting a new look. Bracelets in sterling silver with occasional pops of 18-karat or 14-karat yellow gold are the star of Phillip Gavriel’s spring 2020 ad campaign.
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How to sell to millennials -
Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That’s why it’s essential to understand what makes them tick, and how to capture their loyalty. Read More
Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That’s why it’s essential to understand what makes them tick, and how to capture their loyalty. Read More
JVC honors GIA CEO Susan Jacques -
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award. The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community’s reputation through their dedication, ethics and integrity. Jacques became head of the GIA in 2014, before which she was CEO of Borsheims for 20 years. Read More
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award. The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community’s reputation through their dedication, ethics and integrity. Jacques became head of the GIA in 2014, before which she was CEO of Borsheims for 20 years. Read More
Luk Fook to reduce Hong Kong presence -
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending. The retailer expects a “single-digit” decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a “double-digit” drop the following year. That comes after sales slumped in the municipality amid mass street demonstrations and a decline in tourist arrivals. Read More
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending. The retailer expects a “single-digit” decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a “double-digit” drop the following year. That comes after sales slumped in the municipality amid mass street demonstrations and a decline in tourist arrivals. Read More
US jewelry trade continues to downsize -
The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.
The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.
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The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.
The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.
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Second-biggest diamond ever will become Louis Vuitton jewelry - The second-biggest diamond in history will be cut, polished and turned into a collection of Louis Vuitton jewelry. Lucara Diamond Corp., which found the 1,758-carat Sewelo diamond at its Botswana mine last year, said it struck a deal with the luxury brand and Antwerp diamond manufacturer HB Company. It’s unclear how valuable the polished diamonds will be though, as Lucara said the Sewelo wasn’t a type of diamond that yields top jewelry standard gems. Read More
Chow Tai Fook China sales jump -
Sales at Chow Tai Fook’s mainland China stores grew in the third quarter amid a significant expansion of the jeweler’s network in the country. Total retail sales climbed 17% year on year in China for the three months ending December 31, while same-store sales — at locations open for more than a year — rose 2%. Chow Tai Fook added a net 279 points of sale in the country during the period, contributing to the growth.
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Sales at Chow Tai Fook’s mainland China stores grew in the third quarter amid a significant expansion of the jeweler’s network in the country. Total retail sales climbed 17% year on year in China for the three months ending December 31, while same-store sales — at locations open for more than a year — rose 2%. Chow Tai Fook added a net 279 points of sale in the country during the period, contributing to the growth.
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Bahrain looks to put natural pearls on the map -
World’s biggest producer of these nacreous treasures wants to boost their popularity among US and international consumers.
The archipelago nation, which lies between Saudi Arabia and Qatar on the southwestern coast of the Persian Gulf, comprises more than 30 islands. Diving for natural pearls and trading them internationally has been integral to its history for more than 4,000 years, according to Yaser Alsharifi, board chairman at the Bahrain Institute for Pearls & Gemstones (DANAT). Read More
World’s biggest producer of these nacreous treasures wants to boost their popularity among US and international consumers.
The archipelago nation, which lies between Saudi Arabia and Qatar on the southwestern coast of the Persian Gulf, comprises more than 30 islands. Diving for natural pearls and trading them internationally has been integral to its history for more than 4,000 years, according to Yaser Alsharifi, board chairman at the Bahrain Institute for Pearls & Gemstones (DANAT). Read More
Tiffany & Co. Shanghai store now largest in Asia -
Tiffany & Co. recently unveiled its newly redesigned Shanghai flagship store. At 10,000 square feet, the store has doubled in size and is the largest Tiffany outlet in Asia. The two-story store also houses the Chinese Mainland's first Tiffany Blue Box Cafe, which is located on the upper level. It carries high jewelry designs, classic collections, fashion accessories, to the newly launched men's collections and home & accessories lines. Read More
Tiffany & Co. recently unveiled its newly redesigned Shanghai flagship store. At 10,000 square feet, the store has doubled in size and is the largest Tiffany outlet in Asia. The two-story store also houses the Chinese Mainland's first Tiffany Blue Box Cafe, which is located on the upper level. It carries high jewelry designs, classic collections, fashion accessories, to the newly launched men's collections and home & accessories lines. Read More
Bonas announces colored stone tender 2020 - Bonas, one of the world’s leading diamond tender houses, will hold a gemstone tender at the February Bangkok Gems & Jewelry Fair for the first time at the IMPACT Challenger Center. Viewings will also take place during the March Hong Kong Jewellery & Gem Fair. The event is being organized with the support of the Asia Gem Center in Bangkok. Read More
Women aren't waiting around for jewelry -
The Women's Jewelry Association's (WJA) announcement that it is promoting women buying their own jewelry with its "March is Me Month" campaign looks like a great initiative. After all, women's spending power is huge. According to an article in entrepreneur.com, though, the business world is blasé about recognizing the "female economy," which Forbes put at $18 trillion in 2017 - and it's only grown since.
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The Women's Jewelry Association's (WJA) announcement that it is promoting women buying their own jewelry with its "March is Me Month" campaign looks like a great initiative. After all, women's spending power is huge. According to an article in entrepreneur.com, though, the business world is blasé about recognizing the "female economy," which Forbes put at $18 trillion in 2017 - and it's only grown since.
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Jaipur Lab to certify eBay India gemstones -
Gemstone sellers using eBay India can now get their goods certified by the Jaipur-based Gem Testing Laboratory (GTL) for a nominal fee. Under a new agreement between the lab and the trading giant, all gemstones sold through eBay will be accompanied by a GTL certificate. The move is designed to increase consumer confidence in gemstones sold online and to boost exports of gemstones and gemstone-studded jewelry from India. Read More
Gemstone sellers using eBay India can now get their goods certified by the Jaipur-based Gem Testing Laboratory (GTL) for a nominal fee. Under a new agreement between the lab and the trading giant, all gemstones sold through eBay will be accompanied by a GTL certificate. The move is designed to increase consumer confidence in gemstones sold online and to boost exports of gemstones and gemstone-studded jewelry from India. Read More
Five gemstone trends and topics to know before the Tucson gem shows -
Rather than predict how the gemstone trade will fare over the next decade, we decided to focus on the imminent future: According to our crystal ball, these are the five things every gem buyer should know in the run-up to next month’s Tucson gem shows.
Classic Blue, Pantone’s 2020 Color of the Year
The Up-and-Coming Gem Variety: Garnet
The Color Palette: Orangey-Reds
The Big Topic: Sustainability
The Other Big Topic: Country of Origin
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Rather than predict how the gemstone trade will fare over the next decade, we decided to focus on the imminent future: According to our crystal ball, these are the five things every gem buyer should know in the run-up to next month’s Tucson gem shows.
Classic Blue, Pantone’s 2020 Color of the Year
The Up-and-Coming Gem Variety: Garnet
The Color Palette: Orangey-Reds
The Big Topic: Sustainability
The Other Big Topic: Country of Origin
Read More
Dubai to celebrate 25 years of Dubai City of Gold with gold prizes -
In celebration of 25 years of Dubai City of Gold and Dubai Shopping festival, Dubai Gold and Jewellery Group (DGJG), the largest trade body for the jewellery industry in association with Dubai Festivals & Retail Establishment (DFRE) has revealed a special 'Dubai City of Gold' commemorative coin and also announced their latest jewellery campaign for Dubai Shopping Festival (DSF) 2020.
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In celebration of 25 years of Dubai City of Gold and Dubai Shopping festival, Dubai Gold and Jewellery Group (DGJG), the largest trade body for the jewellery industry in association with Dubai Festivals & Retail Establishment (DFRE) has revealed a special 'Dubai City of Gold' commemorative coin and also announced their latest jewellery campaign for Dubai Shopping Festival (DSF) 2020.
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Jewelry and watches among big sellers on eBay in 2019 -
Auction site eBay has released its annual "Most Interesting and Expensive Purchases" of the year list. While watches and jewelry couldn't compete with the biggest buy on the site - the 20th annual power lunch with Warren Buffett to benefit GLIDE, which sold for: $4.6 million, they put in a good show.
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Auction site eBay has released its annual "Most Interesting and Expensive Purchases" of the year list. While watches and jewelry couldn't compete with the biggest buy on the site - the 20th annual power lunch with Warren Buffett to benefit GLIDE, which sold for: $4.6 million, they put in a good show.
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The diamonds that created a buzz in 2019 -
It was another big year for big diamonds, with several stones that raked in big bucks, set records, or otherwise made headlines. These were the stones that caught our attention in 2019. See lists of: Biggest Money Makers, For the Record and Attention Seekers.
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It was another big year for big diamonds, with several stones that raked in big bucks, set records, or otherwise made headlines. These were the stones that caught our attention in 2019. See lists of: Biggest Money Makers, For the Record and Attention Seekers.
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Graff buys 21ct. polished yellow from Alrosa -
Alrosa has sold its celebrated Firebird diamond to Graff, achieving one of the highest per-carat prices for a stone of its type in recent years, the miner said. Alrosa did not disclose the final sale price of the Asscher-cut, 20.69-carat, fancy-vivid-yellow, VS1-clarity stone. However, the sale was significant as it was made without the involvement of other parties, the company said.
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Alrosa has sold its celebrated Firebird diamond to Graff, achieving one of the highest per-carat prices for a stone of its type in recent years, the miner said. Alrosa did not disclose the final sale price of the Asscher-cut, 20.69-carat, fancy-vivid-yellow, VS1-clarity stone. However, the sale was significant as it was made without the involvement of other parties, the company said.
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Chow Tai Fook launches jewelry academy partnership - Chow Tai Fook Jewellery Group Limited, in partnership with French jewelry school, Haute Ecole de Joaillerie (HEJ), has launched the Loupe Jewellery Academy. The company said academy will shape the future by "incubating and inspiring forthcoming generations in the jewelry industry." The academy, whose curriculum covers design, craftsmanship and sales and marketing, has already held its first high jewelry design course. Read More
IGI and WeSchool launch jewelry design and management program - The International Gemological Institute (IGI) has teamed up with S P Mandali's Principal L N Welingkar Institute of Management Development and Research (WeSchool) business school to launch a Jewelry Design and Business Management Program in Mumbai.
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Faberge welcomes the Chinese New Year with new rat locket - Jewelry and rats—they usually don’t mix. The Chinese New Year on Jan. 25 will usher in the Year of the Rat. Iconic Russian jeweler Fabergé has released a new locket in its series of Palais Tsarskoye Selo red lockets that, when opened, reveals a rat inside. The locket—called the Palais Tsarskoye Selo red locket with Rat Surprise—features red guilloche enamel and 15 round brilliant diamonds set in 18k yellow gold. The egg-shape locket opens to reveal the (very cute) solid 18k gold rat, which has diamonds for eyes!
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Why a few lab-grown diamonds temporarily change color -
Laura Sipe couldn’t believe her eyes. In February, the owner of J.C. Sipe Jewelers in Indianapolis was readying an I-color lab-grown diamond for a customer. She had always heard that lab-growns fluoresce differently under ultraviolet light, so she decided to take out her UV lamp and check for herself. When she removed the stone, it was no longer an I. It was gray. And she “freaked out.” She called up her vendor, who was just as surprised. “One person in the office said she had heard of something like this. She said the diamond turned purple and then it reverted back.” Read More
Laura Sipe couldn’t believe her eyes. In February, the owner of J.C. Sipe Jewelers in Indianapolis was readying an I-color lab-grown diamond for a customer. She had always heard that lab-growns fluoresce differently under ultraviolet light, so she decided to take out her UV lamp and check for herself. When she removed the stone, it was no longer an I. It was gray. And she “freaked out.” She called up her vendor, who was just as surprised. “One person in the office said she had heard of something like this. She said the diamond turned purple and then it reverted back.” Read More
Sotheby's hires new Asia jewelry head -
Sotheby’s has appointed Wenhao Yu as deputy chairman of jewelry for Asia, to help strengthen its expertise and sourcing capabilities and expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department. Prior to that role, he cofounded the jewels and watches department at Poly Auction Beijing. Read More
Sotheby’s has appointed Wenhao Yu as deputy chairman of jewelry for Asia, to help strengthen its expertise and sourcing capabilities and expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department. Prior to that role, he cofounded the jewels and watches department at Poly Auction Beijing. Read More
Mouawad unveils $5 million Miss Universe diamond crown -
Sightholder Mouawad has unveiled the $5 million crown created for the Miss Universe competition. The 18-karat gold creation, called The Miss Universe Power of Unity Crown, is set with over 1,770 white diamonds. The headpiece also features three yellow diamonds from Botswana including a 62.83-carat shield-cut canary yellow stone at its center. Read More
Sightholder Mouawad has unveiled the $5 million crown created for the Miss Universe competition. The 18-karat gold creation, called The Miss Universe Power of Unity Crown, is set with over 1,770 white diamonds. The headpiece also features three yellow diamonds from Botswana including a 62.83-carat shield-cut canary yellow stone at its center. Read More
Colombia's artisanal gold miners now part of a global traceable supply chain -
A group of international organizations, led by Switzerland’s Better Gold Initiative (BGI), has extended their responsible mining initiative to hundreds of artisanal gold miners from El Chocó, Colombia, which are now part of a fully traceable and accountable international supply chain.
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A group of international organizations, led by Switzerland’s Better Gold Initiative (BGI), has extended their responsible mining initiative to hundreds of artisanal gold miners from El Chocó, Colombia, which are now part of a fully traceable and accountable international supply chain.
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Sarine joins race to buy HRD Antwerp -
Sarine Technologies has entered the running to acquire HRD Antwerp, according to two sources close to the sale process.
The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Potential buyers of HRD have until December 10th to submit a final bid with a proposed price, one of the sources added. Read More
Sarine Technologies has entered the running to acquire HRD Antwerp, according to two sources close to the sale process.
The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Potential buyers of HRD have until December 10th to submit a final bid with a proposed price, one of the sources added. Read More
Tiffany opens men's holiday pop-up shop in NY -
The Tiffany Men’s Pop-Up Shop popped up just in time for the holidays in New York City. It’s in the space that will be the jeweler’s home for the next two years. The pop-up shop is selling merchandise from the jeweler's recently launched men’s collection, including accessories, barware, home objects and games. Read More
The Tiffany Men’s Pop-Up Shop popped up just in time for the holidays in New York City. It’s in the space that will be the jeweler’s home for the next two years. The pop-up shop is selling merchandise from the jeweler's recently launched men’s collection, including accessories, barware, home objects and games. Read More
Celebrity News: Beyonce in Marco Bicego, Sandra Oh in Yoko London -
Beyoncé posted a collection of snapshots from her appearance at the premiere of her highly anticipated new release, Queen & Slim, rocking jewelry from Marco Bicego. Queen Bey wore the designer’s Lunaria yellow gold chandelier earrings with diamonds and yellow gold wide ring and his Masai yellow gold and diamond crossover ring to the November 14 event. Sandra Oh rocked a pair of Kaleidoscope South Sea pearl and pink sapphire earrings from jewelry designer Yoko London at the British Fashion Awards.
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Beyoncé posted a collection of snapshots from her appearance at the premiere of her highly anticipated new release, Queen & Slim, rocking jewelry from Marco Bicego. Queen Bey wore the designer’s Lunaria yellow gold chandelier earrings with diamonds and yellow gold wide ring and his Masai yellow gold and diamond crossover ring to the November 14 event. Sandra Oh rocked a pair of Kaleidoscope South Sea pearl and pink sapphire earrings from jewelry designer Yoko London at the British Fashion Awards.
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De Beers ends special supply measures -
Rough-diamond buyers are anticipating an improvement in sales at next week’s De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders’ ability to refuse or defer their supply allocations, sources in the rough market told Rapaport News.
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Rough-diamond buyers are anticipating an improvement in sales at next week’s De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders’ ability to refuse or defer their supply allocations, sources in the rough market told Rapaport News.
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This woman sells diamonds via Instagram -
$70,000. That's how much money someone coughed up to buy a @TheClearCut engagement ring on Instagram. We talked to the company's CEO and founder @OliviaLandau about disrupting the male-dominated diamond industry #SheRoars
via Bloomberg News
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$70,000. That's how much money someone coughed up to buy a @TheClearCut engagement ring on Instagram. We talked to the company's CEO and founder @OliviaLandau about disrupting the male-dominated diamond industry #SheRoars
via Bloomberg News
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Why we're all going to be feeling blue in 2020 -
"We could all be seeing a lot more blue next year with the announcement by color experts that PANTONE 19-4052, Classic Blue, an indigo hue, is the Pantone Color of the Year for 2020," writes Danielle Max of IDEX. According to Leatrice Eiseman, executive director of the Pantone Color Institute, this color "encourages us to look beyond the obvious to expand our thinking; challenging us to think more deeply, increase our perspective and open the flow of communication" and is "imbued with a deep resonance [that] provides an anchoring foundation."
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"We could all be seeing a lot more blue next year with the announcement by color experts that PANTONE 19-4052, Classic Blue, an indigo hue, is the Pantone Color of the Year for 2020," writes Danielle Max of IDEX. According to Leatrice Eiseman, executive director of the Pantone Color Institute, this color "encourages us to look beyond the obvious to expand our thinking; challenging us to think more deeply, increase our perspective and open the flow of communication" and is "imbued with a deep resonance [that] provides an anchoring foundation."
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Tiffany sales hit by Hong Kong unrest -
Unrest in Hong Kong hit jewelry chain Tiffany & Co. hard in its third quarter. The company reported that worldwide net sales of $1 billion and comparable sales were unchanged from the prior year. Excluding Hong Kong, worldwide net sales and comparable sales increased by 4 percent and 3 percent, respectively.
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Unrest in Hong Kong hit jewelry chain Tiffany & Co. hard in its third quarter. The company reported that worldwide net sales of $1 billion and comparable sales were unchanged from the prior year. Excluding Hong Kong, worldwide net sales and comparable sales increased by 4 percent and 3 percent, respectively.
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GIA to shut down Dubai branch -
The Gemological Institute of America (GIA) will close its Dubai office by the end of the year, ending a decade-long presence in the city. The organization has offered education programs, including its Graduate Diamonds course and distance-education lab classes, in Dubai since 2008, and opened a take-in facility to ship stones for grading in 2010. Both services will close by December 31st.
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The Gemological Institute of America (GIA) will close its Dubai office by the end of the year, ending a decade-long presence in the city. The organization has offered education programs, including its Graduate Diamonds course and distance-education lab classes, in Dubai since 2008, and opened a take-in facility to ship stones for grading in 2010. Both services will close by December 31st.
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China growth rescues Chow Tai Fook sales -
Sales at Chow Tai Fook were down only slightly in the first fiscal half as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77 billion) in the six months ending September 30, the company. Total sales in mainland China rose 12% during the period, as the Hong Kong-based jeweler expanded its store network.
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Sales at Chow Tai Fook were down only slightly in the first fiscal half as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77 billion) in the six months ending September 30, the company. Total sales in mainland China rose 12% during the period, as the Hong Kong-based jeweler expanded its store network.
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Your 2020 guide to engagement ring trends that are in and out - Shopping for an engagement ring can be completely daunting if you don't know where to begin. With so many factors to consider like stone shape, gemstones, setting styles, vintage versus new, and more, the number of potential combinations approaches infinity. In other words, it's easy to get overwhelmed by all the choices you can make. So before you get in over your head, we're here to help guide you to (hopefully) finding your perfect match. Read More
Bain says luxury secondhand market is opportunity not threat - The secondhand market, which reached €26 billion ($28.8 billion) in 2019, is evidence of the evolving mentality of luxury goods buyers. That's just one finding of the latest Bain & Company Luxury Study. According to the study, the luxury sector grew by 4 percent in 2019 to an estimated €1.3 trillion ($1.4 trillion) globally. The personal luxury goods segment also grew 4 percent, reaching €281 billion ($311 billion). Read More
After $1B theft, German museum finds it has no insurance - A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to be worth more than $1 billion by the local press—were uninsured. Read More
JMA Hong Kong International Jewelry Show 2019 opens with fanfare -
The 27th edition of the JMA Hong Kong International Jewelry Show opened at the Hong Kong Convention and Exhibition Centre. The chairman of HKJMA presided over the opening ceremony, which was attended by many dignitaries and gem and jewelry industry leaders from around the world. Attendees were treated to the traditional lion dance highlighting the opening of the show. Read More
The 27th edition of the JMA Hong Kong International Jewelry Show opened at the Hong Kong Convention and Exhibition Centre. The chairman of HKJMA presided over the opening ceremony, which was attended by many dignitaries and gem and jewelry industry leaders from around the world. Attendees were treated to the traditional lion dance highlighting the opening of the show. Read More
Auriana finds evidence of highly sought-after lost gold city in Ecuador -
Canadian junior Aurania Resources (TSX-V: ARU) said it had found vestiges of an old road at the very centre of its flagship asset, The Lost Cities – Cutucu project, which it believes provides solid field evidence of its project being at one of Ecuador’s lost gold mining centres. The road, the company said, was discovered by its field teams while searching for “Sevilla de Oro,” which was one of two gold producing cities described in historic manuscripts from Ecuador, Peru, Spain and the Vatican. Read More
Canadian junior Aurania Resources (TSX-V: ARU) said it had found vestiges of an old road at the very centre of its flagship asset, The Lost Cities – Cutucu project, which it believes provides solid field evidence of its project being at one of Ecuador’s lost gold mining centres. The road, the company said, was discovered by its field teams while searching for “Sevilla de Oro,” which was one of two gold producing cities described in historic manuscripts from Ecuador, Peru, Spain and the Vatican. Read More
Provenance Proof delivers digital tracking for gemstones -
Provenance Proof has reached a significant moment in its move to provide transparency to the coloured gemstone market. It has successfully protected over 18kg of emeralds that were sold at the Gemfields November 2019 auction in Singapore. The emeralds all came from Gemfields mines in Zambia.
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Provenance Proof has reached a significant moment in its move to provide transparency to the coloured gemstone market. It has successfully protected over 18kg of emeralds that were sold at the Gemfields November 2019 auction in Singapore. The emeralds all came from Gemfields mines in Zambia.
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US jewelry and watch sales rise steadily - It may be too early for retailers to celebrate a strong end to the year, but with total US jewelry and watch sales up for the third month in a row, it's a good sign that 2019 will end much better than it started. Sales of fine jewelry and fine watches increased by 6 percent in the US market in September compared to September 2018. Following a scant 1- and 2-percent rise in July and August, this 6-percent increase marks the strongest results year-over-year in 13 months. Read More
Interviews with expats who call Thailand home -
An article by Cynthia Unninayar for InColor magazine highlights a few of the many talented and creative expatriates in the gem and jewelry industry who work and live in Thailand. The article features Jacques Prades, Alessio Boschi, Vibeke Lyssand Liervag, Anthony Brooke, Gonzague Zurstrassen, Eric Piat, Adam Komarnicki and more.
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An article by Cynthia Unninayar for InColor magazine highlights a few of the many talented and creative expatriates in the gem and jewelry industry who work and live in Thailand. The article features Jacques Prades, Alessio Boschi, Vibeke Lyssand Liervag, Anthony Brooke, Gonzague Zurstrassen, Eric Piat, Adam Komarnicki and more.
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Birthstone guide: topaz for those born in November -
Gem-A gemmology tutor Lily Faber FGA DGA EG takes a closer look at topaz, the birthstone of November, and explains why this gem should be high up on your Christmas wish list. For those born in the cold month of November, topaz is a well-known and hopefully well-loved gemstone. Read More
Gem-A gemmology tutor Lily Faber FGA DGA EG takes a closer look at topaz, the birthstone of November, and explains why this gem should be high up on your Christmas wish list. For those born in the cold month of November, topaz is a well-known and hopefully well-loved gemstone. Read More
Jadeite necklace nets of $9m at Christie's Hong Kong sale -
A jadeite bead and spinel necklace was the top lot at Christie’s Hong Kong sale, fetching HKD 73.6 million ($9.4 million). The necklace is named the Heavenly Harmony because its 68 jadeite beads are perfectly matched from two different rough stones. It was estimated at $7 million to $11 million at the Magnificent Jewels auction. The entire sale brought in HKD 396.5 million ($50.6 million). Read More
A jadeite bead and spinel necklace was the top lot at Christie’s Hong Kong sale, fetching HKD 73.6 million ($9.4 million). The necklace is named the Heavenly Harmony because its 68 jadeite beads are perfectly matched from two different rough stones. It was estimated at $7 million to $11 million at the Magnificent Jewels auction. The entire sale brought in HKD 396.5 million ($50.6 million). Read More
LMVH sees value in Tiffany's diamond sourcing -
A storied past and popularity as a brand might be the first things that would attract a potential suitor to Tiffany & Co. But LVMH has identified another key attribute that made the US jeweler a valuable target: its ability to source its own diamonds and track its supply chain.
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A storied past and popularity as a brand might be the first things that would attract a potential suitor to Tiffany & Co. But LVMH has identified another key attribute that made the US jeweler a valuable target: its ability to source its own diamonds and track its supply chain.
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Historic German museum looted of millions of dollars of valuables -
A historic museum in Germany has been looted of potentially millions of dollars worth of valuables in a brazen overnight heist in the city of Dresden. The State Art Collections located in the Green Vault were the target of the theft.
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A historic museum in Germany has been looted of potentially millions of dollars worth of valuables in a brazen overnight heist in the city of Dresden. The State Art Collections located in the Green Vault were the target of the theft.
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LMVH seals Tiffany deal for $16 billion -
LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’s position in the global jewelry market and increasing its US presence. The deal will transform LVMH’s watches and jewelry division.
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LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’s position in the global jewelry market and increasing its US presence. The deal will transform LVMH’s watches and jewelry division.
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Jewelry among top performers at major retailers -
Two of the top US department stores noted strong jewelry sales in the third fiscal quarter, even as their overall sales disappointed. “In terms of specific results, our top-performing merchandise categories in the quarter included fine jewelry, footwear, men’s and women’s apparel,” J.C. Penney chief financial officer Bill Wafford said last week on an analyst call transcribed by Seeking Alpha. Read More
Two of the top US department stores noted strong jewelry sales in the third fiscal quarter, even as their overall sales disappointed. “In terms of specific results, our top-performing merchandise categories in the quarter included fine jewelry, footwear, men’s and women’s apparel,” J.C. Penney chief financial officer Bill Wafford said last week on an analyst call transcribed by Seeking Alpha. Read More
Strong investment demand for platinum in 2019 & 2020 -
The platinum market is forecast to be in balance for 2019 as this year’s updated forecast now reflects a deficit of 30 koz compared to the prior estimate of a surplus of 345 koz. This is according to the World Platinum Investment Council’s (WPIC’s) Platinum Quarterly, for the third quarter of 2019, which includes a revision to the full-year 2019 forecast as well as an initial forecast for 2020.
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The platinum market is forecast to be in balance for 2019 as this year’s updated forecast now reflects a deficit of 30 koz compared to the prior estimate of a surplus of 345 koz. This is according to the World Platinum Investment Council’s (WPIC’s) Platinum Quarterly, for the third quarter of 2019, which includes a revision to the full-year 2019 forecast as well as an initial forecast for 2020.
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WDC urges government to act on KP reforms -
With the Kimberley Process three-year reform and review cycle about to end, governments alone hold the future of the KP’s much anticipated reform agenda in their hands, Stephane Fischler, President of the World Diamond Council said during his address to government representatives at the 2019 KP Plenary Meeting in New Delhi, India. Read More
With the Kimberley Process three-year reform and review cycle about to end, governments alone hold the future of the KP’s much anticipated reform agenda in their hands, Stephane Fischler, President of the World Diamond Council said during his address to government representatives at the 2019 KP Plenary Meeting in New Delhi, India. Read More
CIBJO Congress conducts Fei Cui special session - The development and deep significance of the market in Fei Cui, which is known as jade and jadeite in the West, was presented in a special session by Dr Edward Liu, Vice Chairman of the Gemmological Association of Hong Kong and Kent Wong, Managing Director of Chow Tai Fook Jewellery Group and chairman of the Hong Kong Jewellers & Goldsmiths Association. Read More
Tennis legend Serena Williams launches jewelry collaboration with K.P. Sanghvi -
Tennis icon Serena Williams has unveiled her first fine jewelry collection. Created in a collaboration with diamond manufacturer K.P. Sanghvi, Serena Williams Jewelry launched exclusively with Fred Meyer Jewelers online and at select stores and on Macys.com.
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Tennis icon Serena Williams has unveiled her first fine jewelry collection. Created in a collaboration with diamond manufacturer K.P. Sanghvi, Serena Williams Jewelry launched exclusively with Fred Meyer Jewelers online and at select stores and on Macys.com.
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Legacy of Bahrain's historic pearl industry highlighted at CIBJO Congress -
The 2019 CIBJO Congress kicked off at the Four Seasons Hotel in Manama, Bahrain under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa who is the country’s Prime Minister. The conference opening highlighted Bahrain’s historic pearl industry. Read More
The 2019 CIBJO Congress kicked off at the Four Seasons Hotel in Manama, Bahrain under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa who is the country’s Prime Minister. The conference opening highlighted Bahrain’s historic pearl industry. Read More
Rio Tinto's Argyle pink diamond tender delivers exceptional results -
The 2019 Argyle Pink Diamonds Tender collection titled “The Quest for the Absolute” comprises of six hero diamonds and is being showcased in Perth, Singapore, London and New York. Read More
The 2019 Argyle Pink Diamonds Tender collection titled “The Quest for the Absolute” comprises of six hero diamonds and is being showcased in Perth, Singapore, London and New York. Read More
Zimbabwe to take smaller cut of diamond sales -
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields. The government proposed a new royalty rate of 10% in the annual budget last week. Read More
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields. The government proposed a new royalty rate of 10% in the annual budget last week. Read More
Almost 6000 retail shops closed this year - British retailing may be in “crisis,” after new figures from the Centre of Retail Research revealed that large high street retailers have faced a total of 5,834 store closures so far this year. CRR said this marked a 77% increase from the closures in 2018, when 3,303 large retailers shut their doors. Read More
CIBJO Congress opens in Bahrain - The 2019 CIBJO Congress has opened in Bahrain, with a call on the jewellery industry by CIBJO President Gaetano Cavelieri to take action on climate change, which he said was not an issue specific to the sector, but it is the “most important story of our time. This year's Congress is hosted by DANAT. Read More
Petra sells 20ct. blue diamond for $15m - Petra Diamonds sold a 20-carat blue diamond from its Cullinan mine in South Africa for just under $15 million. “We are very pleased with this result, which is in line with our expectations and confirms the resilience in the value of very high-quality blue diamonds,” Petra CEO Richard Duffy. Read More
Art deco jewels lead Bonhams auction - An aquamarine and diamond necklace by Cartier will lead the sale of a selection of Art Deco jewels at Bonhams next month. The piece, dated from 1940, is set to go under the hammer estimated at GBP 100,000 to GBP 150,000 ($128,290 to $192,435), along with a pair of matching earrings created by the jeweler in 1935. Read More
Barrick Gold sells half of Kalgoorlie Consolidated Gold Mines for $750 million - Canada’s Barrick Gold (TSX:ABX)(NYSE:GOLD), the world’s second largest producer of the yellow metal, reached an agreement to sell its 50% interest in Kalgoorlie Consolidated Gold Mines in Western Australia to Saracen Mineral Holdings (ASX:SAR). Read More
11.11 Shopping festival generates $12 billion in opening hour - The 11.11 Global Shopping Festival kicked off at midnight in China and generated $1 billion in the first minute and eight seconds. By the first hour, that number had shot up to $12 billion, reports Alibaba Group Holding Limited. Read More
De Beers sightholders embracing synthetics - Few in the diamond industry were surprised by the news that Rosy Blue chief Dilip Mehta had launched an independent lab-grown business. It’s been an open secret for months that major manufacturers of natural diamonds have been exploring the sector, Rosy Blue being just one of them. Read More
Richemont weathers Hong Kong storm - Jewelry sales at Richemont increased 8% in the first fiscal half, even as the company faced a challenging market in Hong Kong. Jewelry proceeds at Cartier and Van Cleef & Arpels rose to EUR 3.74 billion ($4.12 billion) in the six months ending September 30, while watch sales grew 1% to EUR 1.57 billion ($1.73 billion). Read More
New species of mineral discovered in Myanmar - In the gem world, new discoveries are not that common. Recently, however, researchers from GIA, in collaboration with scientists from the California Institute of Technology, have confirmed a new mineral species, which they have named "johnkoivulaite." in honor of John Koivula. Read More
Gucci debuts high jewelry collection at Place Vendome - Gucci recently launched its first-ever line of high jewellery and it is a kaleidoscope of dazzling, colorful gemstones. Designed by the creative director Alessandro Michele, the Hortus Deliciarum collection comprises 200 pieces of jewelry, made in Italy.
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Brooching the Subject - The brooch has been enjoying renewed interest over the last few years. From its utilitarian roots in the Bronze Age to today’s beautiful designs in precious gems, the brooch has seen its popularity rise and fall. Today, though, we can definitely say it is worth brooching the subject of this form of adornment. Read More
Report on Thailand by Henry Ho - Thailand continues to rise as a leading international player in the world of colored gemstones. The recent announcement of various trade events in Bangkok certainly suggests demand for colored gemstones will rise over the coming months. For instance, we begin to see a growing demand from multinational companies looking to expand into the Asian market in Thailand. Read More
AIGS to organize a cultural trip to Mogok, Myanmar. After the ICA Congress in Bangkok, October 12-15, the AIGS is organizing a five-day cultural and mining tour of Mogok, home of the the famous Burmese rubies and sapphires. For more information or to register, Click Here.
"Mogok - The Valley of Precious Stones" is now on sale - Connoisseurs of gemstones and gemology know Mogok as the mythical valley of precious stones "lost in the mountain of the Shah country." A few years ago, as a tribute to the famous Burmese valley, Kennedy Ho, Chairman of the AIGS, began a project for this book with a team of renowned gemologists and scientists. To learn about purchasing a copy, Read More.
AIGS warns international trade about fake gem reports - The Asian Institute of Gemological Sciences (AIGS), one of the world's leading gemological laboratories, has identified gemstone reports bearing the AIGS logo. "We have found out that some people made fake reports with a working QR code," said AIGS Chairman, Kennedy Ho. Read More