December 2007

LKI Unveils Three-Stone Engagement Ring

— JCK-Jewelers Circular Keystone, 12/12/2007 2:47:00 PM

Lazare Kaplan International Inc. has introduced a new eight prong three-stone engagement ring just in time for an ideal holiday proposal.
 

The platinum ring features three brilliant ideal cut Lazare diamonds, with each diamond representing the couple’s past, present and future.
 
Lazare Kaplan International Inc. sells its diamonds and jewelry products through a worldwide distribution network. The company is noted for its ideal-cut diamond, marketed internationally under the brand name, The Lazare Diamond.

Mervyns CEO steps down

Mervyns CEO steps down
December 13, 2007

Hayward, Calif.—The head of department store chain Mervyns has stepped down, the company announced earlier this week.

Rick Leto, who served as chief executive and chief merchandising officer, joined Mervyns three years ago after private equity firm Cerberus Capital Management lead a group of investors in buying the company from Target Corp. and took it private.

During Leto’s tenure, the company shut about 80 stores and pulled out of several states.

Between 2005 and 2006, Mervyns experienced an 8 percent drop in total U.S. sales, from $2.6 billion to $2.4 billion, and an 8 percent drop in U.S. jewelry and watch sales, from $130 million to $120 million.

Jewelry and watch sales constitute about 5 percent of Mervyns’ total sales.

In addition, the Hayward, Calif.-based department store chain closed 14 stores between 2006 and 2007.

The company’s financials have been strong in recent quarters, however, and the company opened four new stores in 2006, its first store openings since it went private in 2004. The company now operates a total of 177 stores.

Mervyns Chief Financial Officer Chuck Kurth will serve as interim president and chief executive while the company conducts a nationwide search for Leto’s replacement.

“We appreciate the contributions Rick has made to Mervyns and we wish him well,” board member Thomas Taylor told the Contra Costa Times. “Our goal is to have someone in place as soon as possible, but we are committed to taking the time necessary to find the most qualified person to lead Mervyns and take the company to the next level.”

IDI lab rebrands as ‘World Gemological Institute’

IDI lab rebrands as ‘World Gemological Institute’
December 05, 2007

Paso Robles, Calif.—In an effort to redevelop and reposition its existing diamond-grading laboratory to offer more products and services worldwide, the Israel Diamond Institute (IDI) will now operate its lab under the name “World Gemological Institute” (WGI).

“The Israel Diamond Institute has operated the lab as an outreach of our non-profit activities to support the industry, and has invested in the lab’s growth to become a global provider for consumers’ need for an independent, non-biased diamond-grading report along with their diamond purchase,” WGI Managing Director Yinon Feldheim said in a statement.

As part of the rebranding initiative, the IDI has secured the services of California-based MVI Marketing Ltd. to implement a new marketing program in the United States.

With the assistance of MVI, the IDI is developing an extensive marketing plan to inform the industry of the benefits of using the WGI lab for diamond-grading needs. The marketing plan will also be backed by a five-year consumer-awareness and educational program.

The WGI will makes its official debut in the U.S. market beginning in January 2008.

Israel conference to focus on rough supply

Israel conference to focus on rough supply
December 27, 2007

Ramat Gan, Israel—Israel’s upcoming diamond conference will focus on the recent changes in the rough-diamond supply chain, given the Diamond Trading Co.’s (DTC) recent dramatic reduction in the number of sightholders.

The Third International Rough Diamond Conference, scheduled for Feb. 11-12 in Tel Aviv, Israel, will bring together diamond producers, manufacturers and mining companies for a dialogue on the new model of rough supply.

In addition, representatives from the DTC will be on hand to discuss the strategy behind the latest sightholder list.

The latest sightholder list, released Dec. 17, included 79 companies total, down from 93.

DTC Managing Director Varda Shine said the conference presents an opportunity for the DTC to explain its strategy behind the new sightholder list to a wider audience.

“Our new commercial strategy brings together our commitment to beneficiation and our desire to work with those companies best able to add value to the diamonds we sell,” she said.

Moti Ganz, chairman of the Israel Diamond Institute Group of Companies (IDI), which is organizing the conference, said they are aiming to have the conference represent all the entities in the rough-diamond world.

He said so far, the IDI has received a positive response from most industry players.

For more information about the conference as well as registration, visit its Web site, Roughdiamondconference.com.

Zenith exhibit honors The Police’s Summers

Zenith exhibit honors The Police’s Summers
December 11, 2007

Zenith North America President Paul Ziff, right, presents Andy Summers of The Police with a Zenith timepiece.

New York—With the help of Zenith watch brand, Andy Summers of legendary rock band The Police showed off a photo series of his candid, behind-the-scenes shots from the band’s early days during an invite-only reception held in New York at the end of October.

Revelers at the event, held at the über-trendy Milk Studios in Manhattan’s Chelsea district, included fans, artists, models, musicians, and friends of Summers and Zenith, who served as host of the exhibition.

Included among the black-and-white photo series was an exclusive shot that Summers took of Zenith’s “Defy Classic Open” watch. In the photo, the timepiece hovers above a guitar resting on a backdrop of sheet music. The timepiece, featuring a black strap and face as well as a steel bezel, fits right into the two-toned scene.

In honor of the Summers-Zenith partnership, Zenith North America President Paul Ziff presented Summers with a Zenith watch of his own.

Original photograph of a Zenith “Defy Classic Open” watch by The Police’s drummer Andy Summers.

“As an acclaimed professional artist in two distinct areas, Andy Summers embodies the spirit of Zenith,” Ziff said in a statement. “That he is incredibly talented, versatile and a true Renaissance man is abundantly obvious. That he exudes a style and manner that is both warm and gracious is his gift. We are very proud to have Mr. Summers wearing a Zenith timepiece.”

As for further proof that The Police legacy continues to live on: The band rocked two sold-out shows at New York’s Madison Square Garden concurrent with the photo exhibition.

Alpha Omega reopens doors

Alpha Omega reopens doors
December 27, 2007

Cambridge, Mass.—After shuttering its doors shortly before Christmas amid swirling rumors of a company collapse, Alpha Omega’s four stores all reopened before Christmas Day, The Boston Globe reported.

But it is no longer the Handa family that is running the show, and it is expected the struggling jewelry store chain will soon change hands.

According to the Globe, the Alpha Omega stores at Harvard Square and in Boston’s Prudential Building reopened on Saturday, while the mall stores in Natick and Burlington, Mass., reopened on Sunday.

The reopening of the stores followed a confusing couple of days for employees—who were told at one point that they no longer had a job—and customers alike.

According to various media reports, on Dec. 15 Raman Handa returned to his native India with his entire family in tow.

Handa is reportedly extremely ill and is now receiving medical treatment in India, after being discharged from a U.S. clinic, the Globe reported.

But there is also evidence that Handa’s company is in financial trouble.

A review of Alpha Omega financial records by the Globe showed that Handa’s debts were mounting, and on Dec. 22, his bank took possession of the assets at his stores.

As of Thursday, Michael O’Hara, an investment banker with a jewelry background, was running the daily operations at the Cambridge-based company, though Handa and his wife, Nilma, remain directors of Alpha Omega.

Mark Robinson, a consultant brought in by the LaSalle Business Credit arm of Bank of America Corp., told the Globe that a handful of individuals have expressed interest in buying the chain, and that he feels it will be “sold and up and running quite soon, just with a new helm.”

Editor’s note: For earlier developments in this story, see Mystery deepens at Alpha Omega.

Vote for JCK Jewelers Choice Awards

— JCK-Jewelers Circular Keystone, 12/4/2007 9:10:00 AM

Voting for the JCK Jewelers Choice Awards has been extended till Dec. 10. Retailers have the opportunity to vote for their favorites in 10 product categories and receive a five-night stay during the JCK Show ~ Las Vegas. The voting is open to jewelry store owners and their employees.

The first JCK Jewelers Choice Awards is a design competition recognizing jewelry designers and manufacturers for the very best designs of the year. With each vote you submit, your name will be entered into a special "Venetian Hotel Stay Give-Away" sweepstakes for a chance to win a five-night stay at the Venetian Hotel during the JCK Show ~ Las Vegas.

The voting will be open until Dec. 10 at 7 p.m. It’s easy, just go to http://jckvoting.tricycleinc.com/

The product categories are:

Diamond Jewelry
Best Journey Diamond Jewelry Design
Colored Stone Jewelry
Pearl Jewelry
Synthetic Stone Jewelry
Watches
Platinum Jewelry
Best 3/Platinum Ring Bridal Set
Gold Jewelry
"Spring Revelations" ~ Jewelry in Celebration of "May is Gold Month"

AGA to Discuss Fluorescent Diamonds

— JCK-Jewelers Circular Keystone, 11/26/2007 10:06:00 AM

One of the most controversial questions in diamond grading today will be on the agenda when the Accredited Gemologists Association holds its all-day Tucson conference.

How do you color grade fluorescent diamonds, when the diamond’s fluorescence can sometimes enhance the inherent body color of the diamond? Serving on the panel of experts for this year’s event will be Sheldon Kwiat, President, Kwiat Inc; Stanley Hogrebe, Chairman, Dazor Lighting; Tom Tashey, CEO, Professional Gem Sciences; Peter Yantzer, executive director, AGS Laboratories; Jack Ogden, CEO, Gemmological Association of Great Britain (Gem-A); and Tom Moses, GIA/GTL.

The conference will be held Feb. 6, 2008, at the Marriott University Park Hotel.

New lighting units may soon be available, allowing for more accurate, and consistent color grading. These new lamps not only provide lighting to grade the true inherent body color, but also to grade the perceived color resulting from the presence of fluorescence. Can the laboratories change the way in which fluorescent diamonds are graded?

Conference chair, gemologist-author Antoinette Matlins notes that while there will be strong resistance from the trade to having a new color grading standard, there may be benefits that could outweigh the negatives. For example, the wording on diamond grading reports might indicate “body color” and the “perceived body color” in addition to the customary strength and color of the fluorescence. Truly colorless and near-colorless diamonds (D-J) could become rarer, and prices might strengthen. At the same time, reports on diamonds with blue fluorescence could indicate that the diamond, under certain lighting conditions, will appear as a higher color grade.

Matlins notes that this positive comment on fluorescence might reduce “the prejudice that now pervades the marketplace against fluorescent diamonds.”

Other conference topics include: “Changing the Colors—New Directions in Gemstone Treatments,” examining new types of treatments and detection methods; “Gemological Tips and Techniques,” a hands-on workshop, showing innovative ways to get the most out of classic gemological techniques used by independent gemologists.

Presenters include Alan Hodgkinson, FGA; James Shigley, GIA Distinguished Research Fellow; Ted Themelis, research gemologist; Lore Kiefert, Director, AGTA Gemological Testing Center; Christopher Smith, Vice President, American Gemological Laboratories; Jay Neogi, CEO, Serenity Technology; and Ron Kearns, President, Azotic Coating Technology.

The cost for the event is $195 for AGA members and guests, $250 for non-AGA members, including the gala dinner-dance, award ceremony and special celebration of “100 Years of Gemmological Education.” For those interested in attending only the evening gala, tickets are $75 for AGA members and guests, $100 for non-members. For more information or to register, contact Jan Giamanco at 619-501-5444 or visit the AGA Web site.

NICHE Awards Finalists

— JCK-Jewelers Circular Keystone, 11/27/2007 11:48:00 AM

NICHE magazine, the exclusive trade publication for retailers of American craft, has announced the 151 finalists for the 2008 NICHE Awards, including those in the Jewelry and Metal categories. Jurors More than 1,100 entries in 36 categories entered the contest. 

Winners will be revealed at a ceremony on Feb. 17, 2008, at the Philadelphia Buyers Market of American Craft, the nation’s largest wholesale craft show. Finalists are invited to display their work in the NICHE Awards display at the show and are featured in the winter 2008 issue of NICHE magazine.

Finalists in the Jewelry category are:

Fashion

Affinity Pendant
Mayra Orama Muniz
Mio Studio
Lancaster, PA

De Tierra del Mar
Mar Marcotte
Mar of Santa Barbara
Santa Barbara, CA

Mobile Earrings
Victoria Varga
Cumberland, ME

Stone Pendant
Steven Maddy
Pattern Bank
San Diego, CA

Gold

3 Spokes
John Petet
J. Petet Designs
Monument, CO

Ballerina Ring
Emanuela Duca
New York, NY

Freeform Wedding Bands
John Leonard
John Leonard Studio
El Cerrito, CA

Milky Way Cuff
Nina Basharova
Nina Basharova Jewelry Design
New York, NY

Gold with Stones

Double Cup of Diamonds
John Petet
J. Petet Designs
Monument, CO

Pollination
Sowoon Joo
Ithaca, NY

Road Trip Ring
Isabelle Posillico
IS Design
Santa Rosa, CA

Untitled
Todd Reed
Boulder, CO

Yin Yang Pendant
Jacob Albee
Jacob Albee Goldsmith
Burlington, VT
 

Silver

2 Element Pod Pendant
Barbara Bayne
Montague, MA

Avocado
Hilary Hachey
Baltimore, MD

Ocean Flower Earings
Kathryn Osgood
Greenville, NC

Soundwave Cufflinks and Lapel Pin
Danielle Crampsie
Toronto, ON, Canada

Triptych Marquise
Danielle Miller-Gilliam
Danielle Miller Jewelry
Greenville, SC

Silver with Stones

Attitude
Jeffrey Appling
Jeffrey Appling/JEA Jewelry
Palm Springs, CA
 
Bubble Bracelet #5
Danielle Miller-Gilliam
Danielle Miller Jewelry
Greenville, SC
 
Canoe Ring
Belle Brooke Barer
Belle Brooke Designs
Los Angeles, CA
 
Shinayakasa
Birgit Kupke-Peyla
Salinas, CA

Sculpture to Wear

Bouncing Ball
Joan Dulla
Chandler, AZ

Car Earrings
Kristin Lora
Kristin Lora Studios
Santa Fe, NM

Cube
Sowon Joo
Ithaca, NY

Ebony Towers
Suzanne Linquist
Red Circle Metals
Junction City, OR

Lotus Necklace
Chihiro Makio
314 Studio
Somerville, MA

Finalists in the Metal category are:

Enameled

Kaleidoscope
Lisa Hawthorne
Coquille, OR

Memoria
Tricia Lachowiec
Tricia Lachowiec Jewelry
Fall River, MA

Starfish
Wendy McAllister
Stevenson, MD

Waterlily #2 Pin
Amy Roper Lyons
Summit, NJ

Fabricated/Forged

B10 Decade
Matthew Conable
William Henry Studio
McMinnville, OR

Flame Folding Knife
Donald Bell
Bell Knives
Bedford, NS, Canada

Prop Table
Tripp Gregson
TrippworX
Liberty, NC

Sculpture III
Nancy Linkin
Camden, ME

Hollowware

Federation Square Flask
Paul Weller
Austin Creations
Asheville, NC

Foggy Bottom Vase
Jennifer Banks
Jennifer Banks Designs
Napa, CA

Origami Teapot
Yoko Noguchi
Smithville, TN

Pink & Blue 2
David Bausman
Laredo, TX

Wave Vase
Isabelle Posillico
IS Designs
Santa Rosa, CA

Thanksgiving to Christmas Web Sales Up 21%

— JCK-Jewelers Circular Keystone, 12/30/2007 10:19:00 AM

Online retail sales between Thanksgiving and Christmas, which represents the core of the holiday shopping season, totaled $17.9 billion, a 21 percent increase over the same period of 2006, comScore, Inc. reports.

For the entire 2007 holidays season to date (Nov. 1 – Dec. 27), $28 billion has been spent online, a 19-percent gain year-over-year, according to the Reston, Va.-based company, which measures digital data. While it is strong gain, it was far below the 26 percent growth rate recorded in 2006.

“Warm weather during the early part of November took its toll on online retail sales and played a role in holding down the growth in spending over the entire holiday season,” said comScore chairman Gian Fulgoni. “However, if we look at the period between Thanksgiving and Christmas, we see online spending growing at a healthier 21-percent rate, which I think is encouraging given the economic challenges facing consumers this year as a result of higher gas prices, lower home values, and a jittery stock market.”

Fulgoni noted that consumers are still shopping online in force after Christmas.

“Even as the holiday shopping season winds down after Christmas, we continue to see some relatively strong online spending days,” Fulgoni said. “For example, the day after Christmas saw online sales of $545 million, more than double the sales on the same day last year. This would appear to indicate that consumers were willing and able to take advantage of the attractive late-season promotions and price discounts offered by retailers this year.”

ComScore figures exclude travel, auctions, and large corporate purchases.