January 2008

AGTA Elects New Directors

The American Gem Trade Association announced the results of the 2008 elections for the AGTA Board of Directors. The new officers will serve three-year terms and will be introduced at the AGTA Membership Meeting on Feb. 10 in Tucson, Ariz.

Elections were held for vice president, secretary and three director positions. The following officers were elected:

Vice President: Robert Bentley, Robert Bentley Company, Inc.
Secretary: Betty Sue King, King’s Ransom
Director: Benjamin (BJ) Hackman, Intercolor, Inc.
Director: Bill Larson, Pala International, Inc.
Director: Gerry Manning, Manning International, Inc.

The newly elected members of the Board will join the following officers and directors who are currently serving terms on the AGTA Board:

President: Barbara Lawrence, Boston Gems and Findings, Inc.
Vice President:  Omi Nagpal, Omi Gems, Inc.
Secretary: Kambiz Sabouri, Gem 2000, Inc.
Treasurer: Sampat Poddar Byrex, Gems, Inc.
Director: Peter Bazar, Imperial-Deltah, Inc.
Director: Eric Schwotzer, Penn Gem International
Director: Glenn Lehrer, Lehrer Designs
Director: Sushil Goyal, Liberty Gems, Inc.
Director: John Bachman, John M. Bachman, Inc.
Director: Joe Orlando, Stuller, Inc.
Director: Soraya Cayen, Soraya Cayen Collection
Past President: Eric Braunwart, Columbia Gem House, Inc.

The AGTA Board of Directors holds elections on a rotating cycle in order to guarantee coherence of the Board’s long-term plans. The AGTA Membership Meeting is open to all AGTA members and will be held Feb. 10 at 8 a.m. a.m. at the Tucson Convention Center in the Spectrum of Design Ballroom.

AGTA names new board members

AGTA names new board members
January 17, 2008

Dallas—Robert Bentley of Robert Bentley Co. was voted in as vice president of the American Gem Trade Association (AGTA)’s board of directors, the AGTA announced on Wednesday.

In addition, four other officers were voted onto the board of the association, whose members work to promote colored gemstones and pearls. Betty Sue King of King’s Ransom was elected secretary of the board, while Benjamin “B.J.” Hackman of Intercolor, Bill Larson of Pala International and Gerry Manning of Manning International were each voted in as directors.

The new officers will serve three-year terms and will be introduced at the AGTA membership meeting slated for Feb. 10, during the AGTA GemFair in Tucson, Arizona.

The newly elected board members will join the following officers who are currently serving terms on the AGTA board, including: President Barbara Lawrence of Boston Gems and Findings, Vice President Omi Nagpal of Omi Gems, Secretary Kambiz Sabouri of Gem 2000 and Treasurer Sampat Poddar of Byrex Gems.

Current directors include: Peter Bazar of Imperial-Deltah, Eric Schwotzer of Penn Gem International, Glenn Lehrer of Lehrer Designs, Sushil Goyal of Liberty Gems, John Bachman of John M. Bachman, Joe Orlando of Stuller, Soraya Cayen of Soraya Cayen Collection and Eric Braunwart of Columbia Gem House.

The AGTA board of directors holds elections on a rotating cycle to ensure that the board’s long-term plans remain cohesive, the AGTA says.

The AGTA membership meeting is open to all AGTA members and will be held Sunday, Feb. 10, from 8 a.m. to 9 a.m. at the Tucson Convention Center in the Spectrum of Design Ballroom.

Bangkok fair promises a ‘purple evolution’

Bangkok fair promises a ‘purple evolution’
January 17, 2008

Bangkok, Thailand—Purple, the hue that’s long been associated with royalty, will be getting the royal treatment at the Bangkok Gems and Jewelry Fair (BGJF) later this winter.

The 41st edition of the BGJF, scheduled between Feb. 27 and March 2, 2008, will introduce the Sala Design Pavilion, a newly created gallery of avant-garde designs, all in some way unique and all featuring the color purple. Lavender jade, amethyst, purple sapphire and purple gold will be among the offerings.

The latter, especially, is considered a coup because Thai manufacturers have overcome the age-old challenge of making purple gold strong, yet soft enough to withstand being shaped into jewelry as well as less reactive to contaminants, show organizers said.

“Sala Design Pavilion is an additional appeal, which BGJF organizers have been creating to offer more values to our visitors,” Bangkok Gems and Jewelry Fair Chief Executive Officer Somchai Phornchindarak said in a release.

The 41st fair has also made improvements to a matchmaking plan that allows visitors to make business-to-business connections and appointments prior to the fair with some 1,000 exhibitors in 16 key categories of goods and services.

The appointment function is available via the Thailand’s Gem and Jewelry Marketplace Web site, Ospgemsjewelry.com.

For further information, visit the fair’s Web site, Bangkokgemsfair.com, or e-mail info@bangkokgemsfair.com.

Sightholder list tops talk at DTC event

Sightholder list tops talk at DTC event
January 17, 2008

London—The newly revised sightholder list and the growing importance of India and China were two of the topics addressed during the Diamond Trading Co. (DTC) sightholder cocktail party.

De Beers Chairman Nicky Oppenheimer and Managing Director Gareth Penny, along with DTC Managing Director Varda Shine, each took turns addressing the crowd during the gala, held Wednesday night in London.

Oppenheimer told guests he hopes the “friendships” endure with sightholders whose supplies were cut off for the 2008-2011 contract period.

In December, the DTC announced that it would have 79 total sightholders for the new three-year contract period beginning in April, down from 93.

But, Oppenheimer added, “it is exciting to welcome new players who I am sure will add luster and vibrancy to the industry as a whole.”

He also said the emergence of India, China and the Middle East as major diamond buyers will provide a balance to the U.S.’s position as the world’s major diamond buyer.

Penny too addressed the importance of India and China, where an emerging middle class is making for increased competition in the diamond-buying world.

He said De Beers “looks forward” to opening several new mines this year and has also sold off some of the mines that “no longer fit with the business model we seek to deploy.”

“To attain profitable growth,” he said, “we must remain aware of costs. As India and China continue to register outstanding economic growth, their demand for finite supplies of natural resources has resulted in higher resource prices.”

In addressing the crowd, Shine said she believes the new sightholder list was “implemented fairly and objectively,” though she acknowledges that there are some “well-run and well-managed” companies that the DTC would continue to supply, “if only we had enough diamonds to do so.”

Shine also said De Beers Group Marketing will continue to build consumer demand for and confidence in diamonds, and that the “Forevermark” will become a universal brand.

“As you know, in the future, participation in the Forevermark will be open to all eligible diamantaires and not just DTC sightholders,” she said. “This means that existing and new DTC sightholders, through their continuing compliance with the Best Practice Principles, will meet one of the fundamental criteria to be a Forevermark diamantaire.”

Simmons pours on the brown sugar

Simmons pours on the brown sugar
January 17, 2008

Pieces in the Brown Sugar by Justine Simmons collection, such as this brown-diamond ring, are designed for “every woman” for “every occasion,” Simmons said.

New York—One of TV’s top matriarchs is teaming up with the Home Shopping Network (HSN) to launch a line of brown-diamond jewelry.

Justine Simmons, wife of Joseph Simmons (Reverend Run) on the MTV reality series Run’s House and sister-in-law of jewelry company owner and music mogul Russell Simmons, will debut Brown Sugar by Justine Simmons on Jan. 23 on HSN.

Produced and manufactured by family jewelry company SHR and Simmons Jewelry Group, Brown Sugar will be available exclusively on HSN and at HSN.com.

Each piece in Simmons’ collection features brown diamonds, her favorite stone, paired with white diamonds and set in white gold.

Inspiration for the collection came from Simmons’ appreciation of 1930s- and 1940s-style pieces worn by legends of the silver screen, such as Grace Kelly and Katherine Hepburn, as well as the unique brooches and rings worn by Simmons’ mother-in-law, Evelyn Simmons.

“I’ve always been passionate about designing jewelry,” Simmons said. “Brown Sugar is made for every woman and to be worn on every occasion, whether she’s a stay-at-home mom or a career woman on the go. Each piece of the collection is striking and classy and perfectly suited for today’s woman.”

While other shoppers have to wait, fans of Run’s House already know what to expect: the Jan. 3 episode of the reality show provided a sneak peek of the collection, when Simmons and SHR and Simmons Jewelry Group executives met with HSN officials in St. Petersburg, Fla.

NRF Board Calls for Economic Stimulus

The National Retail Federation Board of Directors today called on Congress and President Bush to enact legislation to stimulate the nation’s economy.

“This action shows how seriously the current economic situation is taken by the CEOs of the nation’s major retail companies,” NRF president and chief executive officer Tracy Mullin said. “Consumer spending and retail sales are the backbone of the nation’s economy. Stimulus that helps consumer spending will benefit all industries in the private sector.”

The Board, meeting at NRF’s 97th Annual Convention in New York City Tuesday, unanimously adopted a resolution emphasizing that consumer spending represents 70 percent of the U.S. economy and calling on lawmakers to act quickly.

“The nation’s economy is in a slowdown,” the resolution said. “Consumers will be under continued financial stress in 2008 as a result of high energy costs, the fallout from the housing slump, sluggish employment and income growth.

“The National Retail Federation calls upon the President and Congress to act quickly and in bipartisan fashion to enact targeted economic stimulus legislation that would put dollars back in consumers’ pockets to fuel and sustain economic growth.”

The vote came after the U.S. Commerce Department announced that retail sales for December (excluding automobiles, gas stations and restaurants) rose 1.7 percent unadjusted over 2006 and decreased 0.4 percent seasonally adjusted from November. Combined November-December holiday sales totaled $469.9 billion, a 3 percent increase that fell short of NRF’s earlier prediction of a 4 percent increase. The increase was the lowest since 2002, when holiday sales rose 1.3 percent.

On Monday, NRF issued its 2008 economic forecast, calling for a 3.5 percent increase in retail sales over 2007. NRF expects the housing slump and slow job growth to restrain sales.

Breeden’s stake in Zale continues to rise

Breeden’s stake in Zale continues to rise
January 17, 2008

New York—Investor Richard Breeden increased his stake in Zale Corp. for the second time in a week.

A filing made on Wednesday with the U.S. Securities and Exchange Commission (SEC) shows Breeden’s stake in the struggling jewelry chain is now up to 18.1 percent, an increase from the 17.7 percent documented by a filing on Tuesday.

Breeden, former chairman of the SEC, is investing in the jewelry company through his Greenwich, Conn.-based company, Breeden Capital Management LLC.

In his original filing in September, Breeden stated that he had already had “conversations” with members of the Zale management team and that he would seek to continue talking with them about the company’s strategic vision and financial situation.

Turbulent times abound at Zale.

President and Chief Executive Officer Betsy Burton stepped down last month, replaced by Neal Goldberg, former president of The Children’s Place.

Zale saw same-store sales decline 9 percent for November and December 2007 and, earlier this week, announced the closing of 60 underperforming stores by mid April.

Editor’s note: For earlier developments in this story, see Breeden raises stake in Zale, again.

Bangkok Fair to Showcase Purple

The Bangkok Gems and Jewelry Fair will have a new pavilion designed to "capture the mystery and magic" to what it’s calling the "purple evolution." 

Called the Sala Design Pavilion, this new section will be located on the main foyer of BGJF will display virtually anything purple, eye-catching, rare and unique—including lavender jade, amethyst, purple sapphire, and purple gold.

Show organizers said the pavilion will include research into the manufacture of purple gold that overcomes the historical challenges of making it strong yet soft enough to withstand shaping into jewelry pieces, while being less reactive to contaminants.

"Sala Design Pavilion is an additional appeal which BGJF organizers have been creating to offer more values to our visitors," said Somchai Phornchindarak, BGJF chief executive officer.

The display, organizers said, will set the tone for a new wave of jewelry fashion, inspiring designers and manufacturers on how they can capitalize in on the emerging new market opportunities.

"For lovers of jewelry, they can see for themselves what will be available and to cherish, something different to augment their jewelry collection," Somchai added.

The 41st edition of BGJF is scheduled between Feb. 27 and March 2 at the 861,000 square-foot Challenger Hall. More than 1,000 exhibitors active in 16 key categories of goods and services are available for appointments and business electronically at www.ospgemsjewelry.com.

Grahame Brown, Gemologist, Author, 71

Australian gemologist Grahame Brown, editor of the journal of the Gemmological Association of Australia and author of more than 500 published gemological papers, died Jan. 15 after a long battle with cancer. He was 71.

Brown is well-known and highly praised throughout the world by his peers for his ability to share his love for gemology. 

“Grahame was a special person, a gemmologist of the highest order, a good and sincere friend, and mentor to many,” states the GAA Web site.

“Grahame and I were good friends as well as colleagues,” says Hylda Bracewell with GAA. “I was GAA Queensland secretary when Grahame joined the association in 1973. He graduated with high distinction in 1974 and not long after began research and writing, and of course, editor of the Queensland Division’s newsletter, and magazine. He would turn up at my office with a fist full of hand written notes saying, ‘Do you think you could have these typed up before tomorrow? I need to get them posted, … or away somewhere, … or sent to someone else …’ And so, the friendship has been since then.”

As Bracewell notes, Brown began his gemological career when he joined the Queensland division of the GAA in June of 1973. The following year, he not only passed the diploma course with high distinction, he was awarded the Australia Prize for the highest pass in Australia. The following year, he again passed with high distinction, this time with the British Gemmological Association. And his education seemed never ending.

He was elected a Diplomate in Diamond Technology, (Dip. DT), awarded the first Research Diploma of the GAA for investigations into the structure and properties of precious corals, awarded a Charter Senior Member title of the National Gem & Jewelry Appraisers Association by the National Association of Jewelry Appraisers in the U.S., awarded a pass with distinction from the Canadian Gemmological Association, and elected a Fellow of the Gemmological Association of South Africa.

From 1975, Brown taught Principal Theory for the GAA in Queensland, and became federal chairman of the GAA from 1979 through 1981. He assumed the post of president of the GAA in 1983, and was at that time chairman of the editorial review panel for the Australian Gemmologist, the quarterly journal of the GAA. Brown would later become editor of journal in 1994.

He was founder of ALLGEM Services, a business specializing in gem identifications, appraisals, forensic gemmology, and gemological consultancy, but this never seemed to slow him down.

Brown was always traveling to give lectures or seminars. From 1989 to 1992 Brown taught gem identification for the department of geology & mineralogy, at the University of Queensland. He was a visiting lecturer to the Gemmological Association of Hong Kong, the Asian Institute of Gemological Sciences in Bangkok, inaugural guest lecturer at the first conference of the Gemmological Association of New Zealand, a visiting lecturer to the Singapore Gemmologists Society, and invited lecturer to the GIA’s International Gemological Symposium in 1991.

In 1990, Brown helped found the Australian Gemstone Industry Council. He was also a contributing editor to the fifth edition of Wesbter’s Gems

In 2001, Brown was appointed editor of The NCJV Valuer, Australia’s only journal devoted to the principles of valuation of gemstones and jewelry. And in 2002, and again in 2004, Brown was the Australian delegate to the CIBJO Congress.

Grahame Brown will be missed by the gemological community, but his many works will live on.

There will be a memorial service in Brisbane on Jan. 23 at 10 a.m. For further information, contact the GAA through their website at www.gem.org.au

Diana Ross Performs for 24K Club

The Waldorf Astoria hotel in New York City played host to influential players in the fine jewelry and watch industry Jan. 12 during the annual 24 Karat Club Dinner. After visiting the pre-cocktail party suites, more than 1,300 ticket holders were graced with the presence of a legend, Diana Ross.

Ross, who took the stage in a red beaded ensemble, belting out "I’m Coming Out" and continued her performance with crowd pleasers like "Baby Love," "Sweetest Hangover," and "Stop in the Name of Love," and wrapped up the event by inviting a few guests on stage with her to help close with "I Will Survive."

“This evening is traditionally a celebration of the 24 Karat Club’s members and its history,” said Phyllis Bergman, past president of 24 Karat Club and chairperson of this years’ dinner, “The dinner and the pre and post cocktail parties in the suites gives all of us an opportunity to spend time with friends and colleagues in a fun, relaxed social environment and that allows us to let loose and momentarily forget the pressures of the industry. These events go a long way towards building and strengthening business relationships that are so crucial to our industry’s vitality.”