January 2008
IDI at Vicenzaoro Winter Fair
The Israeli Diamond Industry will participate at Vicenzaoro Winter 2008, being held Jan. 13 - 20. An Israel Diamond Pavilion with leading manufacturers and exporters will once again be placed on Diamond Avenue in Pavilion G.
This year IDI will host the largest contingent ever, with nine Israeli companies exhibiting a variety of goods, including loose stones and diamond-set jewelry. The Pavilion will have: A.G. Diamond Direct Ltd., Eizenstein Diamonds Ltd., Fancy Colours Ltd., Gal Diamonds Ltd., Lustig Brothers Ltd., Moshe Namdar & Co. Ltd., SDE Group, S.K.R. Fine Jewelry, and YEI – Yahalomei Espeka Ltd.
IDI will have an informational booth within the pavilion to provide general information on doing business with Israel. In keeping with tradition, the pavilion will host a cocktail hour every day at 3 p.m.
Web Holiday Jewelry, Watch Sales Fell
Online holiday jewelry and watch sales for 2007 fell from the record breaking results of the 2006 season.
Reston, Va.-based comScore, Inc., said that sales in "jewelry & watch" category, fell by single digits. Andrew Lipsman, an analyst with comScore, says the company isn’t releasing the exact percentage of year-over-year decline because of the "high variability in the category."
This "high variability" wasn’t an issue for comScore during the 2006 holiday season when it reported that the jewelry and watch category recorded a 66 percent year-over-year sales increase for the period—the largest gain among all categories recorded by the company, which measures digital data, for the 2006 holiday season. ComScore does not disclose sales figures for specific Web sites or categories.
Lipsman said previously that the outstanding result of 2006 may have been one reason for the drop in category growth this year. The second involves a general reduction in luxury goods purchases for the holidays
"The declines are likely a function of two things," he said. "First, jewelry & watches saw an unusually strong 2006 holiday season, meaning that any year-over-year growth this year is being calculated off a high base; Second, in an uncertain economy, consumers are likely to pull back on the purchase of luxury items, and jewelry & watches certainly falls under that domain."
The company said in a statement that the rising costs in precious metals, particularly gold and platinum, also may have dampened consumer demand.
E-commerce spending for the 2007 holiday season (Nov. 1 – Dec. 31) totaled $29.2 billion, a 19 percent gain year-over-year. The figure is a drop from the previous year’s growth rate of 26 percent. The company projected that sales for the season would have grown by 20 percent.
Monday, Dec. 10 was the heaviest online spending day of the season with $881 million. The week ending Dec. 16 was the heaviest week of the season with $4.7 billion in spending.
“Ultimately, the softness in the growth of online retail sales during the first ten days of November proved difficult to overcome and prevented the season’s growth rate from reaching our forecast of 20 percent," said comScore chairman Gian Fulgoni. "However, the period between Thanksgiving and Christmas—another measure of the strength of the holiday season—experienced a healthier 21 percent growth rate.”
While jewelry and watches were down, video games, consoles & accessories was the fastest growing online retail category, jumping 129 percent versus the 2006 holiday season, with popular consoles like Nintendo Wii and Sony PlayStation and games like Halo 3 driving strong sales in the category.
Furniture, appliances & equipment (up 67 percent), event tickets (up 24 percent), and consumer electronics (up 23 percent) also experienced above average growth. After seeing substantial softness early in the season, online apparel sales picked up considerably in the latter part of the season, finishing up 18 percent.
ComScore figures excludes travel, auctions, and large corporate purchases.
Top 10 Online Spending Days of 2007 Holiday Season
Day Dollars Spent ($ millions)
Dec. 10 (“Green Monday”) $881
Dec. 11 $819
Dec. 6 $803
Dec. 5 $798
Dec. 4 $776
Dec. 12 $754
Dec. 3 $753
Dec. 7 $734
Nov. 26 (“Cyber Monday”) $733
Nov. 29 $733
Fastest Growing Retail E-Commerce Categories by Dollar Sales for 2007 Holiday Season
Retail Category, Percent Change in Category Sales ($)
Video Games, Consoles & Accessories 129%
Furniture, Appliances & Equipment 67%
Event Tickets 24%
Consumer Electronics 23%
Apparel & Accessories 18%
Sport & Fitness 16%
Toys 16%
Computer Hardware 15%
Music, Movies & Videos 13%
Books & Magazines 13%
Silver belles
Silver belles
December 15, 2007
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| Hot Diamonds’ “Go with the Flow Bracelet” in rhodium-plated sterling silver set with diamonds; suggested retail price is $280. |
By Mary Wisniewski
Although it may not be much of a hit outside of America and is far from dominating the runways the way yellow gold has, silver continues to hold its own in today’s jewelry designs.
The most fashion-forward pieces offer texture and are mixed with other metals, while some of the top-selling pieces are mixed with colored gemstones.
For a review of the latest silver-jewelry trends—including those that feature colored gems or diamonds—download Silver belles.
Colored-gem treatments top topic at AGA conference
Colored-gem treatments top topic at AGA conference
January 07, 2008
Tucson, Ariz.—Colored-gemstone treatments and the issues surrounding them will be the featured topic of the Accredited Gemologists Association (AGA) 2008 Tucson Conference taking place next month.
The all-day conference, to be held on Wednesday, Feb. 6, at the Marriott University Park Hotel in Tucson, will open with a panel presentation that will examine new types of colored-gemstone treatments and detection methods, followed by a hands-on session. Rounding out the morning will be a presentation on ways independent gemologists can get the most out of classical gemological techniques.
In addition to panel presenters such as American Gem Trade Association Gemological Testing Center Director Lore Kiefert, Gemological Institute of America (GIA) Distinguished Research Fellow James Shigley and American Gemological Laboratories Vice President Christopher Smith, author and educator Alan Hodgkinson will give a special presentation showing practical gem-testing techniques.
An afternoon session will focus on color-grading fluorescent diamonds. Specific topics will include new technological advances in lighting and new instrumentation that can change how diamonds are both graded and valued.
A panel moderated by JCK Senior Editor Gary Roskin will address the implications and issues related to these new technological advances, and will also examine their impact on global diamond trade. The panel will include Dazor Lighting Chairman Stanley Hogrebe, Kwiat Inc. President Sheldon Kwiat, GIA Laboratory and Research Senior Vice President Tom Moses, Gemmological Association of Great Britain (Gem-A) Chief Executive Officer Jack Ogden, Professional Gem Sciences Chief Executive Officer Tom Tashey and American Gem Society Laboratories Executive Director Peter Yantzer.
Cost of attendance for the 2008 Tucson Conference is $195 for AGA members and guests and $250 for non-AGA members. The fee includes admission to the AGA’s gala dinner-dance, award ceremony and special celebration of “100 Years of Gemmological Education,” all taking place the evening of Feb. 6. Presented by Gem-A and the AGA, the evening will begin with cocktails at 6:30 p.m., and the dinner-dance and awards presentation will run from 7:45 p.m. to 11 p.m.
For those interested in attending the evening gala only, tickets are $75 for AGA members and guests and $100 for non-members.
For more information or to register, contact Jan Giamanco at (619) 501-5444 or visit the AGA Web site, Accreditedgemologists.org.
Model sues jewelry company for suggestive ad
Model sues jewelry company for suggestive ad
January 07, 2008
New York—A model has filed a $5 million lawsuit against a jewelry company, claiming the video advertisement she starred in tarnished her wholesome image by depicting her in a pornographic way.
The case was filed last Monday in Manhattan’s state Supreme Court, according to The Associated Press.
The Szul Jewelry Internet advertisement, titled “Rock Her World,” shows the woman in lingerie and a diamond necklace moaning and stroking herself. The segment ends with the Web address, Szul.com, flashing across the screen. Q2 Entertainment shot the commercial, the AP report says.
The 37-year-old plantiff, identified as Jane Doe in court papers, says she did not “consent to or authorize the use of her likeness, picture, image or name to simulate a female having an orgasm or otherwise experiencing sexual pleasure,” according to the AP. The plaintiff further contends that three-quarters of the commercial contained a comedic story line with the premise that an average guy can get a woman excited by placing a necklace on her, says the news source. The woman claims she was later told to sit and feign excitement for a few seconds while the man put the necklace on her, the lawsuit reportedly says.
The woman who filed the suit is asking for $2.5 in compensatory damages and $2.5 million in punitive damages.
The lawsuit identifies Szul Jewelery, Q2 Entertainment and Q2 principal Mitchell Goldman as defendants. Neither of the companies immediately returned phone calls from National Jeweler seeking comment.
Jewelers Mutual to sponsor AGTA gala
Jewelers Mutual to sponsor AGTA gala
January 07, 2008
Neenah, Wis.—Jewelers Mutual Insurance Co. will sponsor the American Gem Trade Association (AGTA) GemFair Dinner Dance and Awards Gala, where colored-gemstone industry members and retailers who gather for the gem shows in Tucson, Ariz., will have a chance to meet and mingle.
Top designers, manufacturers, retailers and lapidary artists are expected to turn out for the gala, which is to be held on Saturday, Feb. 9, at the Marriott University Park Hotel in Tucson. Gala guests also will have the chance to meet the 2008 AGTA Spectrum Awards winners.
“Jewelers Mutual is honored to sponsor this lovely event for the second year,” Jewelers Mutual Industry Relations Director Patricia Syvrud said in a press release issued on Friday. “We know that those within the gem and jewelry industry have a vast base of knowledge and expertise that they are eager to share. The dinner dance creates a festive atmosphere of fraternalism that is a highlight of the Tucson gem shows and launches new friendships.”
Tickets to the AGTA GemFair Dinner Dance are still available. For more information, call (800) 972-1162 or visit the AGTA Web site, AGTA.org.
Breeden ups stake in Zale
Breeden ups stake in Zale
January 07, 2008
New York—Former U.S. Securities and Exchange Commission (SEC) Chairman Richard Breeden has upped his interest in struggling jewelry chain Zale Corp.
A filing with the SEC on Monday shows Breeden has a 15.9 percent stake in Zale, up from the 13.3 percent reported last week.
Breeden is purchasing the shares through his Greenwich, Conn.-based investment fund Breeden Capital Management LLC.
The fund previously has said it plans to pursue ongoing discussions with Zale management, its board of directors and other shareholders about the company’s strategy and increasing shareholder value.
Back in September, Breeden announced interest in purchasing Zale stock, which he said was undervalued.
Zale experienced a shake-up in upper management last month, during the time that Breeden, who is known for being an activist investor and stirring things up wherever he goes, was purchasing large shares of stock.
Zale Chief Executive Officer Betsy Burton stepped down on Dec. 20 and was replaced by outsider Neal Goldberg, a former president of The Children’s Place Retail Stores Inc.
Previously, Breeden won three seats on the board and a chairmanship at H and R Block Inc.; shortly after, the company’s chief executive resigned.
Breeden also fought to win seats on the board and strategy committee of Applebee’s International Inc.
Editor’s note: For earlier developments in this story, see Investor raises stake in Zale.
Gitanjali Gems announces next acquisition
Gitanjali Gems announces next acquisition
January 07, 2008
Mumbai, India—Indian jewelry giant Gitanjali Gems will announce acquisition of a diamond-jewelry brand at a press conference on Tuesday in Mumbai, a company spokesperson confirmed to National Jeweler.
Gitanjali Gems, which made headlines last year with its $20 million acquisition of U.S. chain retailer Rogers Ltd., will acquire Nakshatra, which Gitanjali Gems describes as “India’s premium diamond-jewelry brand.”
The move is the latest in a series by the Mumbai-based company as it looks to raise its profile in India and around the world.
In addition to its November 2007 acquisition of Rogers, in February 2007, Gitanjali Gems purchased a majority interest in Tri-Star Worldwide LLC, a BHP sightholder, CanadaMark licensee, manufacturer and global distributor of Canadia-brand diamonds and diamond jewelry.
In July, the company launched its own brand of affordably priced loose diamonds, Ezee Diamonds, and in November, Gitanjali Gems unveiled its Wimbledon jewelry collection, which includes more than 100 pieces honoring the tennis championship.
The company also acquired Samuels Jewelers in December 2006.
Announcement of the acquisition is scheduled for Tuesday morning at 11:30 a.m. local time in Mumbai at the Hotel Taj Mahal.
Editor’s note: For related stories, see Gitanjali Gems acquires U.S. retailer Rogers.