January 2008

Chinese New Year in Tucson

The National Chinese America Jewelry Association will again host and sponsor its annual Chinese New Year parties in Tucson during the February Tucson gem and jewelry shows to promote solidarity within the community of Asian American Jewelers and interactive relationships with international dealers.

For the past ten years, these NCAJA parties have become a tradition to its members. Its next Chinese New Year party will be held Feb. 9 in Tucson. At the event, there will have an inauguration ceremony in which NCAJA president Felix Chen of Prime Art & Jewel, will hand over the title to Leo Wong of Lucky Gem.

In related news, NCAJA has agreed to join Hong Kong Gemstone Manufacturers’ Association as sister association.

NCAJA was founded in November, 1987, as a non-profit organization aimed at providing assistance and services to mainly first generation naturalized Asian American jewelers in the U.S. Its membership has grown over 20 years and its service has expanded to cover the interest of all American jewelers. Its headquarters is in New York City.

Diamond dealers Killed in Plane Crash

Five Israeli diamond dealers were killed when their light aircraft crashed in a residential suburb of Namibia’s capital Windhoek Jan. 11, according to media reports.

The Cessna 210 plane ploughed into a house and set it ablaze while attempting an emergency landing in which the pilot was also killed, Reuters news service reports.

Chris Merkling, a director of Lazare Kaplan Africa, told the Reuters that the men were employed by Lazare Kaplan International, the New York partners of Namibia diamond cutter Nam-Gem.

Israeli media and Namibian diamond industry officials named the five dead Israelis as Shlomo Zilberberg, Shmuel Zigdon, Amit Cohen, Ilan Hadadi, and Avichai Abarov.

Other pilots in the air around Eros Airport said they heard the pilot of the plane issue a May-day radio call around 1420 GMT on Friday, saying his aircraft was experiencing turbulence and was rapidly losing altitude, Reuters reports.

The plane was heading to a private game reserve 375 miles north of Windhoek, aviation industry officials reportedly said.

Nam-Gem, a joint venture between De Beers and the Namibian government, has been involved in a joint marketing agreement with Lazare Kaplan International since 2004, Reuters reports.

Maurice Lacroix Completes Move to Hackensack

After more than 12 years in Encino, Calif., the U.S. subsidiary of luxury Swiss watchmaker Maurice Lacroix has relocated to Hackensack, N.J.

It has also incorporated itself as Desco Luxury (Americas) Inc., with Maurice Lacroix as its primary luxury watch brand. The name change, reflecting the name of the brand’s parent firm, Desco von Schulthess AG, is intended for “greater worldwide uniformity and in anticipation of future luxury watch brands,” says a company statement.

There were several reasons for the relocation, the company said. They included new management (including watch industry veteran Randi Shinske who joined in 2007 as president and chief executive officer), the opportunity for improved communication between the East Coast and the Swiss headquarters, and “closer proximity to pulse of the jewelry and watch industry and major media outlets in New York City.”

The new location’s information is: Desco Luxury (Americas) Inc./Maurice Lacroix, 401 Hackensack Ave., 8th Floor, Hackensack, NJ 07601. (201) 996-1800. Fax: (201) 996-1832. Customer service e-mail: cs@mauricelacroix.com.

NRF: Slow growth for retail sales in 2008

NRF: Slow growth for retail sales in 2008
January 14, 2008

New York—Retail sales, excluding automobiles, gas stations and restaurants, are expected to increase just 3.5 percent in 2008 compared with 2007, according to the National Retail Federation (NRF)’s quarterly Retail Sales Outlook report released today.

The NRF anticipates the slow pace in sales growth—the lowest growth since 2002, when sales rose 3 percent—to continue before picking up in the second half of the year.

“Consumers will be under financial stress from high energy costs, the fallout from the housing slump and sluggish employment and income growth,” NRF Chief Economist Rosalind Wells said in a statement. “Shoppers will seek to pay down debt, spend more in line with income growth and approach discretionary purchases with more restraint.”

While the outlook is somewhat reserved, the NRF expects industry sales to increase 3.2 percent in the first half of the year, followed by a 3.8 percent increase in the second half as economic conditions improve.

“Retailers will once again be forced to market to more practical consumers, many of whom will be looking to trade down,” Wells said. “Even areas of past high growth such as luxury goods and online shopping will feel the pressure. In 2008, the challenges will be formidable for everyone.”

Neiman Marcus December sales up

Neiman Marcus December sales up
January 14, 2008

Dallas—Same-store sales at Neiman Marcus Inc. increased 2.9 percent to $709 million for the five weeks ended Dec. 29, compared with $689 million for the same period in 2006, the company announced.

Total revenues increased 4.9 percent to $723 million for the period, compared with $689 million in 2006.

All figures have been adjusted to exclude the revenues of Kate Spade LLC.

In the five-week December period, comparable revenues in the Specialty Retail Stores segment, which includes Neiman Marcus Stores and Bergdorf Goodman, increased 1.8 percent. Women’s shoes, designer handbags, beauty and men’s shoes and sportswear were the top performing merchandise categories. Revenue growth trends were the strongest in the company’s stores in the Midwest, Texas and New York City.

Comparable revenues at Neiman Marcus Direct in the five-week December period increased 8.4 percent. Top selling merchandise categories included designer shoes and handbags, women’s contemporary sportswear, jewelry and men’s furnishings.

The company’s five-week reporting period is consistent with last year and reflects a 4-5-4 week second quarter.

Neiman Marcus operations include the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both online and print catalog operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.

For additional information about Neiman Marcus, visit its Web site, Neimanmarcusgroup.com.

New Group Wants to Advance Jewelry Studies

Author and publisher, Elyse Zorn Karlin, founder and executive editor/publisher of Adornment, the Magazine of Jewelry & Related Arts, has formed the Association for the Study of Jewelry & Related Arts, LLC, dedicated to the advancement of jewelry studies.

The organization will promote jewelry studies in schools, museums, and institutions of higher learning. It is committed to the dissemination of scholarship to all those interested in the history of jewelry. ASJRA takes a broad approach to the subject, seeking to understand and place jewelry within a variety of contexts, including historical (from the ancient past to present day), the decorative arts, and fashion. Membership is open to anyone interested in jewelry studies.

Yvonne Markowitz, a noted jewelry historian and curator, will work with Karlin to achieve ASJRA’s goals.

“As a jewelry curator, I recognized the need to lead in providing jewelry students with an understanding of jewelry history, “Markowitz said. “I am already bringing students to the Museum of Fine Arts, Boston to study jewelry from our collections. Elyse and I also want to bring the history to institutions of higher learning. Forming this organization will be a means for us to do that.”

To achieve its mission, ASJRA said it will do the following:

* Offer the quarterly magazine Adornment, the Magazine of Jewelry & Related Arts to its associates as a vehicle for scholarly articles in jewelry studies. The emphasis is on new research in the field and jewelry events throughout the world.

* Sponsor an annual conference as a forum for curators, academic historians, and scholars to present new and interesting information about jewelry. It provides an opportunity for scholars, collectors, dealers, and appraisers to connect and share information. The second annual conference, A Place in Time: Jewelry within the Context of the Decorative Arts, took place Oct. 5-8, 2007 at the Fashion Institute of Technology, New York City.

* Encourage the inclusion of courses in jewelry history at the college and graduate level for both applied jewelry students and decorative arts majors.

* Encourage the development of study programs for jewelry design students and jewelry history students at museums. The model program is already underway at the Museum of Fine Arts, Boston.

* Provide a scholarship(s) for students to attend the annual conference.

* Publishes the proceedings of the annual conference.

* Build a Web site with useful information for those interested in jewelry studies.

Individuals can become Associate of ASJRA for $85 per year. For a brochure write to:

ASJRA 246 N. Regent St., Port Chester, NY 10573 USA; or call (914) 286-7685.

Information is also available at www.asjra.net.

JVC names new Assistant General Counsel

JVC names new Assistant General Counsel
January 14, 2008

JVC Assistant General Counsel Suzan Radin Flamm.

New York—The Jewelers Vigilance Committee (JVC) has named Suzan Radin Flamm as assistant general counsel.

Flamm will be responsible for mediating disputes, conducting legal-compliance seminars, developing anti-money-laundering and legal-compliance materials for trade publications as well as the JVC’s Web site, and contributing to special projects.

Flamm has held several positions in both the public and private sector, including prosecuting and investigating criminal matters as an assistant district attorney, and developing investigative procedures in a newly created anti-corruption agency in New York City as a deputy commissioner.

She has also served as a special assistant U.S. attorney in the Eastern District of New York, where she conducted long-term grand jury investigations. In addition, she has served as an assistant attorney general for New York state, managing cases brought against the state, and supervising legal and support staff in the Nassau County Regional Office.

More recently, Flamm has served as a consultant at a litigation support services firm, where she advised attorneys on trial technology and visual court presentations.

“Suzan brings a great deal of legal expertise and experience to JVC,” JVC President Cecilia Gardner said in media release. “Her legal background and understanding of JVC’s mission and goals will enhance JVC’s ability to help U.S. jewelers to understand their legal-compliance obligations.”

For more information about the JVC, visit its Web site, JVClegal.org.

Siera keeps princess-cut stones in place

Siera keeps princess-cut stones in place
January 14, 2008

An 18-karat gold ring featuring diamonds totaling approximately 9.25 carats is one of the pieces in Siera Jewelry’s new princess-cut bridal line. Suggested retail price is $18,000.

Los Angeles—Jewelry manufacturer Siera Jewelry is offering a new technology that the company says will keep princess-cut diamonds firmly in their place.

Siera’s new “Invisa-Prong” technology securely holds each diamond flush against the next, instead of using tension to hold four or more stones together, the company said in a media release. The result is an illusion of a large, brilliant diamond surface.

“We have taken an old, beautiful concept and made it better and more profitable for retailers,” Saro Marukian, designer for Siera Jewelry, said in a statement. “With Invisa-Prongs, the stones are completely and utterly secure, so retailers lose no time resetting or replacing stones, they have only a satisfied customer.”

A new bridal line of princess-cut diamond jewelry featuring Invisa-Prongs is now available, with items starting at suggested retail prices of under $5,000. A semi-mount engagement line will launch in spring of 2008.

For more information, call (800) 839-9944 or visit Siera’s Web site, Sierajewelry.com.

Israel’s Top Polished Diamond Exporters

The annual list of the 30 largest exporters of polished diamonds in Israel was published by the Israel Diamond Controller’s Office in the Ministry of Industry, Trade and Labor. Topping the list once again is L.L.D. Diamonds Ltd., owned by Lev Leviev, with exports of $522 million in 2007.

Second on the list of top exporters is Leo Schachter Ltd. with $446 million. Next is Moshe Namdar and Co. with $199 million.

In the fourth place is Espeka Diamonds International Ltd. with $194 million; followed by A.Dalumi Diamonds Ltd. with $170 million in exports in fifth place.

Rounding out the top 10 are:Yerushalmi Brothers Ltd. with $161 million in polished diamond exports; A.A. Rachminov Ltd., with $128 million in exports; M.I.D. House of Diamonds Ltd., with $122 million; Poligem Ltd. with $94 million; and Rosy Blue Sales Ltd. with $93 million.

Shmuel Mordechai, Israel Diamond Controller, said that the net polished exports of the top 30 exporters totaled $3.16 billion, accounting for 44 percent of Israel’s total net polished diamonds, which reached nearly $7.1 billion in 2007. Mordechai added that the list of 30 does not include 15 companies, whose exports totaled $739 million, who chose not to publish their export figures.

Birks & Mayors Same-Store Sales Down 7%

Birks & Mayors Inc. said that same-store sales fell by 7 percent for the 2007 holiday season. U.S. same-store sales dropped 10 percent for the period and Canadian stores fell by 5 percent for the period (Nov. 7 – Dec. 4).

The company, which owns 71 luxury jewelry stores in the U.S. and Canada, reported a net sales increased 5.7 percent to $96.8 million for the period, primarily driven by the opening of two new stores in the U.S., the addition of two stores in Canada associated with the Brinkhaus acquisition, and the translation of Canadian sales at higher rates.

"We were disappointed with our holiday sales results, said Thomas A. Andruskevich," Birks & Mayors president and chief executive officer. "While net sales increased during our fiscal 2008 holiday season, comparable store sales were below our expectations driven by declines in store traffic patterns that worsened as the holiday season progressed. We continue to operate in a challenging economic environment and will continue to operate the business in a manner consistent with these conditions."

The company said that in light of these holiday sales results and its outlook for the fourth quarter of fiscal 2008, it is lowering its full year guidance for sales and earnings before taxes—expecting net sales to increase in the mid single digit range and anticipates achieving profitability for the fiscal 2008 year. However, earnings before income taxes are expected to be significantly below the prior fiscal year.

About Birks & Mayors Inc. operates 38 Birks stores in Canada, 31 Mayors stores in Florida and Georgia, and two retail locations in Calgary and Vancouver under the Brinkhaus brand.