January 2008
2007 MJSA Innovation Award Winners
The Manufacturing Jewelers & Suppliers of America and MJSA Journal honored four products in the fourth annual MJSA Innovation Awards competition, which recognizes the most creative tools, technologies, and processes introduced during the past year. The winners, which ranged from a desktop scanner that offers high-quality scans in seconds to an ergonomically designed saw that offers precision cuts by hand, were all featured in the December 2007 issue of MJSA Journal.
The 2007 MJSA Innovation Award-winning products are:
* Blanking Die Saw by Knew Concepts, Santa Cruz, Calif. (pictured) This ergonomically designed saw enables jewelers to make quick, easy, and precise cuts at the bench. "The saw frame is in alignment with the work in such a way that you can make precision cuts by hand—cuts that were attainable only with a machine tool," says MJSA Innovation Awards judge James Binnion of James Binnion Metal Arts in Bellingham, Wash..
* NextEngine’s Desktop 3D Scanner by NextEngine Inc., Santa Monica, Calif. This desktop system offers high-quality scans at an affordable price. The scanner uses a multi-laser array to sweep across objects at various angles, scanning 50,000 surface points per second; a file with millions of points can be quickly generated, dramatically speeding workflow. "This tool is then ‘Star Trek’…I can place an object in it, scan it, e-mail it, and have that object re-made across the world tomorrow," says MJSA Innovation Awards judge Charles Lewton-Brain, goldsmith, author, and educator from Calgary, Alberta, Canada.
* Noble Investment by Ransom & Randolph, Maumee, Ohio. Unlike most other platinum and palladium investments, which contain a hazardous acid binder, the Noble investment is a water-mixed solution that is safer to use, ship, and store. Adding to the safety benefits, the investment can be easily removed in an hour or less, without the use of hydrofluoric acid. "Easy and quick devesting will mean significant time savings to casters," says MJSA Innovation Awards judge Joerg Fischer-Buehner of Indutherm GmbH and Legor Group Srl in Schwabisch, Gmund, Germany.
- 4X ZeroShrink Silicone Mold Rubber by Zero-D Products Inc., Willoughby, Ohio. Designed for jewelry makers who want to mold carved waxes and resins, the 4X ZeroShrink cures in as fast as five minutes per quarter-inch of thickness at 250 degree Fahrenheit, without shrinkage. The rubber also features high tear strength and durability, with the ability to stand up against high clamp and injection pressures. "This product should be advantageous to many casters, as its zero-shrink characteristic will make it easier to produce accurately sized castings," says MJSA Innovation Awards judge Christopher Corti, a London-based consultant to the World Gold Council.
The Innovation Awards are part of Thinking Ahead: The MJSA Innovation Initiative, an effort to celebrate and motivate innovation in all areas of the industry. As part of the Initiative, MJSA will feature a series of free innovation sessions, as well as the fourth annual Innovation Awards presentation at its Expo New York 2008 show.
JVC further advises in claims process
JVC further advises in claims process
January 08, 2008
New York—The Jewelers Vigilance Committee (JVC) is advising resellers that they can submit claims for compensation in the De Beers Indirect Purchaser/Reseller class-action settlement for purchases of both diamond jewelry and jewelry that contain diamonds and other gemstones.
The guidance on the court-approved claim form states that resellers should check only one box when reporting purchases of either diamond-only jewelry or jewelry containing mixed stones, but the JVC advises resellers that they can claim both.
To claim all purchases that qualify, resellers should either photocopy or download multiple copies of pages 5 and 6 of the claim form and fill in one copy as “diamond-only” and the second copy as “mixed jewelry.” Further, the JVC says multiple printed forms can and should be used, as some in the trade will have multiple purchases that can’t physically fit on one printed form.
Claims must be postmarked on or before May 19, 2008, to be accepted.
Questions should be sent to jvsquestions@aol.com. For a link to the claim form and guidance information on filing a claim, visit the JVC’s Web site, JVClegal.org.
Editor’s note: For earlier developments in this story, see JVC posts link to De Beers settlement claim form.
Gubelin Lab preps for Tucson with local gem testing
Gubelin Lab preps for Tucson with local gem testing
January 08, 2008
Lucerne, Switzerland—The Gübelin Gem Lab will be testing colored stones between Jan. 22-29 in New York City in preparation for the annual gem shows in Tucson, Ariz.
The testing site will be held at 589 Fifth Ave., Ste. 1205, and will be open each day from 9 a.m. until 6:30 p.m. The company can be reached on their local phone at (212) 755-4554, or by fax at (212) 755-1173.
The lab requests that clients make an appointment in advance, which can be arranged by calling (011) 41 41 429 1717, or by faxing (011) 41 41 429 1734. When making the appointment, the lab also asks clients to estimate how many stones they need to test.
AGA elects new officers, board members
AGA elects new officers, board members
January 08, 2008
San Diego, Calif.—The Accredited Gemologists Association (AGA) has announced new officers and board members for the years 2008-2010.
The newly appointed officers are: Donna Hawrelko, president; Kathryn Bonanno, vice president; Tracy Aros, secretary; and Monica Caldwell, treasurer.
The newly appointed governors are: Craig Lynch, Antoinette Matlins, Teri Newman-Brossmer, Stuart Robertson, Gary Smith and Nancy Stacy.
President-elect Hawrelko is also currently the director of education at the Canadian Gemmological Association (CGA). She holds an FGA degree in gemology and the FCGmA title from the CGA.
“We are pleased to have Donna and her strong board succeeding us,” outgoing AGA President Joseph DuMouchelle and outgoing AGA Vice President Richard Drucker said in a statement. “Donna is a strong leader and has run several successful Canadian gem conferences. Combined with her board, the AGA is poised for even greater growth and exciting contributions to the field of gemology.”
France’s leading jewelry show set for February
France’s leading jewelry show set for February
January 08, 2008
Lyon, France—The Print’Or watch and jewelry show, France’s leading buying event for precious jewelry and fine watches, will take place in Lyon from Feb. 3-5.
Organizers said in a statement that the show’s dates, set early within the year, enable market players to launch the trends that will take hold in the coming seasons.
More than 600 exhibitors and brands will be on display at the Lyon Eurexpo, where featured areas will include the Place Bellecour, bringing together manufacturers from Lyon, and the Trend Zone, which will spotlight 2008 trends in an interactive format.
Another highlight in 2008 will be the addition of the Jewellery Club and Watch Club, reception areas where a limited number of brands with selective distribution can meet with invite-only customers. These private rooms will feature a lounge area with champagne bar and refined service.
In addition to generating business, organizers said, focal points of the show will include opportunities to exchange information on new products, forge contacts and find ideas for store layout and window display.
For more information, visit the Print’Or Web site, Printor.fr.
IDI to send largest contingent to Vicenzaoro
IDI to send largest contingent to Vicenzaoro
January 08, 2008
Ramat Gan, Israel—In keeping with its strong presence at diamond events worldwide, the Israeli Diamond Industry (IDI) will host its largest contingent ever at Vicenzaoro Winter 2008.
Nine Israeli companies are slated to attend the fair, exhibiting a wide variety of goods, including loose stones and finished diamond jewelry.
While the majority of Israel’s polished-diamond exports go to the United States and the Far East—the IDI has placed a major emphasis of late on improving its relationship with China—exports to European markets are growing.
Belgium and Switzerland are the IDI’s third and fourth largest markets respectively and, for the first 11 months of the year, exports to Switzerland rose 42 percent; to England, 34 percent; and to Belgium, 20 percent.
“We view the European markets with great interest and seek to enhance the Israeli Diamond Industry’s marketing efforts throughout the continent,” said IDI Chairman Moti Ganz. “Vicenzaoro, as the first major trade event on the European diamond and jewelry calendar, is a most significant platform for the Israeli industry, and that’s why we decided to enhance our presence there this year.”
Israeli companies expected to attend are: A.G. Diamond Direct Ltd., Eizenstein Diamonds Ltd., Fancy Colours Ltd., Gal Diamonds Ltd., Lustig Brothers Ltd., Moshe Namdar and Co. Ltd., SDE Group, S.K.R. Fine Jewelry and YEI—Yahalomei Espeka Ltd.
Vicenazaoro Winter 2008 is being held from Jan. 13-20 in Vicenza, Italy.
Small Business Owners See Signs of Inflation
While the Federal Reserve is focused on the problems of the large banks, small-business owners are worried about inflation, according to the National Federation of Independent Business.
In its December Small Business Economic Trends report, the percent of owners reporting higher average selling prices had fallen to a net 9 percent of all firms in September but now stands at 16 percent. Plans to raise prices rose from 21 percent in September to 26 percent of all owners in December.
The NFIB Index of Small-Business Optimism gained 0.2 points in December. The Index has lost 2.4 points since September (before base period adjustment); the index hasn’t seen readings this low since March 2003.
Optimism Components Net % Change
PLAN TO INCREASE EMPLOYMENT 11 0
PLAN TO INCREASE CAP. OUTLAYS* 30 +3
PLAN TO INCREASE INVENTORIES -3 -5
EXPECT ECONOMY TO IMPROVE -10 0
EXPECT HIGHER REAL SALES 6 -2
CURRENT INVENTORY SATISFACTION -3 0
CURRENT JOB OPENINGS* 21 +2
EXPECTED CREDIT CONDITIONS -10 -2
NOW A GOOD TIME TO EXPAND* 14 +1
EARNINGS TRENDS -20 +5
*Note: These components are measured as actual percentages of all respondents and are not net percentages. A net percentage is the percent positive minus percent negative.
“The historic relationship between inflation and the percent of owners reporting higher prices suggests that inflation will be showing some new, unwanted viability,” said NFIB chief economist William Dunkelberg.
Unadjusted, 27 percent of small-business owners surveyed reported raising average selling prices, up three points from November, and 12 percent reported lower selling prices, unchanged. This price cutting phase has lasted well over a year.
Hiring activity is lower now than at the end of the third quarter, but in December, owners increased employment by 0.18 employees per firm, a fair performance. This is also consistent with a recent ADP National Employment Report that found small businesses accounted for an increase of 66,000 jobs in December.
NFIB’s SBET found that 21 percent (seasonally adjusted) reported unfilled job openings, up two points from November (the 34 year average is 22). Sixteen percent said the availability of qualified labor was their top business problem, up three points.
Over the next three months, a seasonally adjusted net 11 percent of owners plan to create new jobs—unchanged from October and November and three points below September. Readings for the past three months have been a point above the 35-year average.
There was some improvement in capital spending. The frequency of capital outlays over the past six months rose six points to 62 percent of all firms, a solid increase. Forty-seven percent reported spending on new equipment (up seven points), 21 percent acquired vehicles, and 16 percent improved or expanded their facilities, according to the survey. Fourteen percent spent money for new fixtures and furniture, and 8 percent acquired new buildings or land for expansion.
Thirty percent of all firms plan to make capital expenditures over the next few months, up three points from November. Fourteen percent of the owners expressed the view that the current period is a good time to expand their business, up a point from November. A net-negative 10 percent expect business conditions to improve over the next six months.
Inventory reduction appears to be slowing. Unadjusted, 15 percent reported inventory gains and 18 percent reported reductions. A net-negative 3 percent reported stocks too low (seasonally adjusted), unchanged from November. Overall, 11 percent plan to increase stocks while 15 percent plan reductions.
The percent of owners reporting higher sales increased four points (seasonally adjusted) to a net 1 percent (a good holiday season). Unadjusted, 25 percent of all owners reported higher sales, and 26 percent reported lower sales.
The percent of owners expecting gains in real sales volumes was down two points, to a net 6 percent, seasonally adjusted (eight points lower than September). Owner satisfaction with inventories (a negative net 3 percent reporting stocks too low) was unchanged after heavy inventory reduction in October and November. The net percent of owners planning to increase inventories dropped five points to a net-negative 3 percent.
Positive sales trends and price increases produced earnings gains for some small firms in December—up 5 percent over November. “Apparently demand was solid and price cutting was restrained,” Dunkelberg said.
Thirty-three percent of all retail firms reported raising average selling prices, and 11 percent reduced them.
Of the owners reporting higher earnings (18 percent, up one point), 56 percent cited stronger sales (down eight points), and 6 percent each credited lower materials costs and higher selling prices (unchanged). For those reporting lower earnings compared to the previous three months (37 percent, down three points), 47 percent cited weaker sales (up four points), 16 percent cited higher materials costs (including energy), and 5 percent blamed higher labor costs. Eight percent blamed lower selling prices for the decline in profits, and 3 percent cited higher insurance costs. Three percent each blamed higher financing costs and higher taxes.
Reports of higher compensation rose three points to 24 percent of all firms, but reports of price hikes (26 percent) and a four-point improvement in sales trends overcame rising labor costs. “Reports of profitability increased,” said Dunkelberg, “but further gains will depend on the course of the economy.”
Thirty-two percent of those surveyed reported all their credit needs met compared to 7 percent who reported problems obtaining desired financing (up three points), not as favorable a reading as in November (two points lower on balance). The net percent of owners reporting higher rates on their short-term loans was one percent (seasonally adjusted), down 14 points from September, a result of the impact of Fed rate cuts on variable priced loans (including lines of credit).
The net percent of owners expecting credit conditions to ease in the coming months was a seasonally adjusted net-negative 10 percent (more owners expect that it will be “harder” to arrange financing), two points lower than November and below the average reading for the year.
“This indicates that some owners now see credit tightening on Main Street in spite of the Fed’s expansionary policies,” Dunkelberg said. “But rates are falling and there was no change in the net percent of owners reporting credit harder to get—our basic indicator of the tightness of monetary policy.”
Weekly Chain Store Sales Up 1.9%
Chain store sales rose by 1.9 percent on a year-over-year basis for the week ended Jan. 5 and increased by 0.4 percent from the prior week, according to the International Council of Shopping Centers, Inc. survey
"Gift-card redemptions and post-Christmas bargain hunting seemed to drive consumer demand over the last week," said Michael P. Niemira, ICSC chief economist and director of research. "For the month of December, we expect sales will post a gain of about 1 percent.
"December’s sales performance will be understated by a calendar mismatch for some retailers, which will depress December’s results by about three-quarters of a percentage point," Niemira added. "Overall, it was a moderate November-December holiday sales performance, but clearly softer than in recent years," he added.
The ICSC-UBS Weekly U.S. Retail Chain Store Sales Index is a joint publication between ICSC and UBS Securities LLC. The index measures nominal same-store or comparable-store sales excluding restaurant and vehicle demand.
Redesigned Oppenheimer Diamond Museum
The opening ceremony of the totally redesigned and renovated Harry Oppenheimer Diamond Museum will launch Israel’s Third International Rough Diamond Conference on Feb. 11. The museum is a subsidiary of the Israel Diamond Institute.
The opening, which will take place at 10 a.m. at the museum, located within the Israeli Diamond Industry complex in Ramat Gan, will be attended by an array of leaders from the global diamond industry, ministers from African producing countries and representatives of the Israeli Diamond Industry. The De Beers Group will be represented by Gareth Penny, De Beers Group managing director and Varda Shine, Diamond Trading Company managing director. The museum opening will be the first in a series of events being held in conjunction with the Rough Diamond Conference.
"I am happy that after more than 20 years we have literally created a brand-new museum, well suited to the 21st century," said Shmuel Schnitzer, chairman of the board of the museum. "We have integrated the latest technology and design elements. This museum will offer an exciting visit for members of the industry, as well as for tourists, students and the general public."
The permanent exhibition combines artifacts, displays, and information presented on graphic panels, and uses video segments to enhance the experience of the visitor. At the heart of the experience is a “host” who accompanies the visitor on a virtual journey, where a variety of experts explain the route the diamond takes until it reaches its final destination. At each stage of the tour visitors can access additional information on interactive stands.
The museum also has a new space for changing exhibitions. Inaugurating that space will be an exhibition provided by the DTC of the Shining Light Awards Diamond Design Collection for 2006 –2007. The awards are given every year for excellence in diamond jewelry design to the most talented young South African designers.
Vietnam Trade Fair
The inaugural International Jewelry Vietnam 2008 will be held May 2 – 4 at the Ho Chi Minh City Exhibition & Convention Centre.
IJV 2008 is a marketplace for suppliers that sell, market, or promote innovative products and services across all platforms to new buyers from Vietnam and the other nine members of the Association of Southeast Asian Nations members: Brunei, Cambodia, Indonesia, Laos, Myanmar, Malaysia, Philippines, Singapore, and Thailand.
The fair will cater to retailers, department store buyers, and private collectors; and cover all aspects of the jewelry market, including the tools, displays, and packaging sectors. It is organized by World Trade Fair Ltd.
Launched on Nov. 21, 2007, IJV 2008 has met with an overwhelming response from the industry suppliers. In 10 days since its launch, 48 percent of total booth space has been reserved by 52 applicants from 14 countries. Only 180 booths are available for the first edition of the fair.
Vietnam is a new market for international jewelers with a developing and largely untapped luxury products sector. The country also benefits from continued market reforms and its greater access to world markets, resulting with its accession to the WTO in January 2007. Domestic demand was a major growth driver, supported by strong export expansion (particularly manufactured goods) and increased foreign direct investment from Singapore, Taiwan, South Korea, Malaysia, Hong Kong, EU, and the U.S.
Booth space is $3,500. For more information, visit the Trafe Fair Web site; call (+852) 6838-2688 Larry Chan, (+852) 2365-3839 Connie Lui; or e-mail: sales@januaryshow.com.