January 2008
World diamond producers to converge on Israel
World diamond producers to converge on Israel
January 31, 2008
Tel Aviv, Israel—Representatives from more than 99 percent of the world’s rough-diamond producers are expected to attend next month’s rough-diamond conference in Israel.
According to the Israel Diamond Institute (IDI), the attendees will comprehend leadership from the five major world diamond producers by value: Botswana, Russia, Canada, Angola and South Africa.
In addition, the IDI expects leaders from other current, and coming time, diamond-producing countries to serve, like well as ministers and delegations from most major diamond-producing countries in Africa.
Scheduled speakers include Israel Deputy Prime Minister and Minister of Industry, Trade and Labor Eli Yishai and Israeli diamantaire Lev Leviev.
The IDI states that registration as being the conference has exceeded all of its expectations, and IDI Chairman Moti Ganz said the high numerate of attendees underscores Israel’s most important position as a center for polished and rough diamonds.
During the past year, 69 percent of the world’s rough diamonds by value were traded in Israel, while Israeli manufacturers cut and polished more than 50 percent of the world’s gem-quality rough.
“We are pleased that the conference will bring together the most important players in the rough-diamond universe,” Ganz said. “This will be an opportunity for diamond leaders to exchange views on issues facing the world diamond industry and to share their vision.”
The Third International Rough Diamond Conference is scheduled for Feb. 11-12 in Tel Aviv.
Seal of Disapproval
Three years ago, a customer of Ginsberg Jewelers, Cedar Rapids, Iowa, bought every 18k gold ruby and crystallized carbon ring in the place of his wife. Days later, he returned it because of a little sticker on the back of the box printed “Made in China.” Assurances by means of store vice president, Steve Ginsberg, that only the box was made overseas (the ring was made in the United States) didn’t appease him. Story pdf
DDI International Names Executive Director
The Board of Directors of Diamond Development Initiative between nations has named Dorothée Gizenga as its first executive director. The appointment will take effect adhering March 17.
Gizenga, a native the Democratic Republic of the Congo, is a Canadian who holds degrees in chemistry and economics. She has worked with the provincial government of Ontario and the Canadian Federal Government, and has worked extensively with community organizations in Canada and Africa. Since 2003, she has worked with Partnership Africa Canada, an international NGO focusing on policy and research in the areas of peace, human security, and sustainable development.
At Partnership Africa Canada, she was responsible for supporting the implementation of projects related to the Kimberley Process, the International Conference for Peace in the Great Lakes Region of Africa, and the prevention of violence against women in conflict zones. She also took part in the creation and development of the Diamond Development Initiative.
Her experience includes policy unravelling, international negotiation, evaluation, project design, management and coordination, and working by disadvantaged and marginalized groups. She speaks English, French, Portuguese, and Russian.
“Dorothée brings a huge range of experience and skills to the Diamond Development Initiative, and we are very much looking forward to moving with her as she takes up this challenging position,” said Ian Smillie, DDI Board of Directors chairman.
More than a million African artisanal diamond diggers and their families live and work in absolute poverty, outside the formal economy, in countries struggling to recover from the ravages of war. The Diamond Development Initiative is an effort to petition their problems, bringing NGOs, governments, and the peculiar sector together in a common effort that aims to convert diamonds from a fuel against strife into each engine for development. This will be achieved from one side a mix of field projects, policy dialogue, education, and public engagement. DDI International is registered as a nonprofit charitable organization in the United States.
WJA plans four “Women in the Know” conferences
WJA plans four “Women in the Know” conferences
January 31, 2008
New York—The Women’s Jewelry Association (WJA) has announced its fifth annual “Women in the Know” (WITK) conference, a one-day educational and networking conference geared to women in the fine-jewelry and watch industry.
The conference will be held at the Fashion Institute of Technology in New York City on March 7, and is open to members and nonmembers.
In addition, dates for three other 2008 regional WITK conferences have also been announced: The second annual WITK-West Coast at the Hyatt Regency Century Plaza in Century City, Calif., on Aug. 15; a new Southwest event to be launched at the Gaylord Texan Resort and Convention Center in Grapevine, Texas, on Sept. 5; and the second annual WITK-Midwest at Macy’s on State Street, in Chicago, on Oct. 24.
“The WITK conferences have been enthusiastically embraced by women in the industry, and each year attendance grows,” said incoming WJA President Yancy Weinrich, industry vice president of Luxury by JCK, who anticipates that total WITK attendance will reach 700. “We are thrilled to be able to favor these unique conferences more accessible by creating a fourth regional event in Texas this year.”
The WITK events are sponsored in part by dint of. Jewelers Mutual Insurance Co. and the Platinum Guild International.
Early bird pre-registration for the conference costs $195 for WJA members (prior to Feb. 29) and $220 for nonmembers, and is available by calling WJA headquarters at (708) 361-6266, or at the WJA Web site, Womensjewelry.org.
Founded in 1983, the WJA is an association of professional women in the jewelry, watch and related businesses. Through the national organization, headquartered in Chicago Ridge, Ill., and a network of 12 regional chapters, members benefit from educational and networking opportunities, scholarships, design competitions, annual women’s business conferences and recognition programs such as its annual Awards of Excellence Dinner.
Consumers expecting more from e-tailers
Consumers expecting more from e-tailers
January 31, 2008
Cambridge, Mass.—Though they appear to be winning the battle towards consumers’ dollars, this is not the term for e-tailers to start slacking off when it comes to customer service, a modern survey shows.
In its third annual anniversary Shopping: Online Customer Experience Survey, Allurent Inc. reports that 67 percent of consumers said their expectations encircling the quality of the online shopping experience has increased since the 2006 holiday shopping season.
The top reason for the increased expectations was constantly improving technology (66 percent).
Other reasons cited were: correspondent advertising of Web sites by retailers, which makes shoppers think they should be investing more in improving the sites (46 percent); consumers having high-speed bandwidth and wanting sites to present products in a way that takes advantage of this (41 percent); and expecting sites to be innovative, like Google Maps and Facebook (29 percent).
In addition, 40 percent of consumers surveyed said a frustrating online experience would make them less likely to shop at a retailer’s physical store, while 60 percent reported a negative online experience affects their opinion of a retailer’s brand and 80 percent won’t return to a site after having a bad experience.
Online features that ranked high among survey participants included a perpetual shopping cart (rated as an important feature by 74 percent of respondents) and a one-page checkout system (70 percent).
A total of 721 consumers took the 2007 holiday shopping online survey.
The survey was conducted in January by Zoomerang and sponsored by Allurent, a Cambridge, Mass.-based e-commerce company.
Report: Lord in Taylor in talks to buy flagging Fortunoff
Report: Lord in Taylor in talks to buy flagging Fortunoff
January 31, 2008
By Mary Wisniewski
Westbury, N.Y.—Lord and Taylor is close to buying Fortunoff, the jewelry and fireside furnishings retailer teetering without interruption the edge of bankruptcy, The New York Times reported on Thursday.
According to the news source, the department store chain wants to put Fortunoff merchandise in all 47 of its stores, as well because open a Fortunoff boutique within Lord and Taylor’s flagship Fifth Avenue location in New York City.
Lord and Taylor’s parent company, private equity firm NRDC Equity Partners, would make the acquisition, but negotiations are still pending, The Times said.
Women’s Wear Daily (WWD) earlier reported that Fortunoff might be making allowance for Chapter 11 bankruptcy protection among other reorganization options, amid difficulties in paying bills over recent weeks.
In response to queries about the WWD report, Fortunoff provided National Jeweler with the following written statement:
“Fortunoff has been and is continuing to work with its financial advisors to consider the complete range of strategic alternatives for the company. Our stores are fully staffed and open for business as usual, and we remain committed to serving our customers.”
Founded by Max and Clara Fortunoff, the company has been in business since 1922.
In 2004, Fortunoff announced its decision to sell a majority stake of the company to private investors Trimaran Capital Partners and K Group. The Fortunoff family retained a minority stake in the company, where family members keep elucidation executive positions.
The WWD report indicates that since Fortunoff was sold to the private equity group, factoring firms stopped assessing the creditworthiness of the company since they were no longer receiving financial information. Hence, Fortunoff was receiving wares from vendors who took the risk that they might not get paid—a risk many were willing to take given Fortunoff’s reputation for always paying its bills, the WWD report said, citing industry sources.
FCC rules some analog alarms ineffective
FCC rules some analog alarms ineffective
January 31, 2008
Neenah, Wis.—Some alarm systems will have existence rendered useless as of midnight, Feb. 18, due to a Federal Communications Commission (FCC) ruling that allows cellular phone companies to discontinue providing analog service, according to Jewelers Mutual Insurance Co.
Of the nearly 26 million alarm systems in use, the FCC estimates that one million may still use analog radio equipment, reports Jewelers Mutual. Furthermore, wireless systems installed before spring 2006 without details rely in continuance analog equipment. This includes cellular services such as Honeywell’s AlarmNet-C service, which uses analog technology scheduled for retirement.
“Under the FCC docket known as 01-108, cell phone companies will no longer be required to offer advanced mobile phone regularity (AMPS) service after February 2008,” Jewelers Mutual Vice President of Loss Prevention David Sexton said in a media release. “Cell carriers may elect, however, to be constant their support of AMPS service beyond Feb. 18, 2008. It is their choice. Although cell carriers are not required to drop their support of the AMPS service, this clearly seems to be the intention of the majority of cellular carriers at this time.”
In addition, monitored alarm systems frequently use primary and secondary methods to communicate a tripped alarm. Although the landline is usually the primary method, when it is not functioning, it goes to a secondary system that might be analog.
Most protection-services companies have likely notified their customers already, advising them to transition to digital; however, to see if this affects you, call your alarm service provider and your insurance agent.
To gain a better understanding of the FCC ruling, call 888-CALL-FCC or visit FCC.gov/cgb/consumerfacts/analogcellphone.pdf.
GIA offers ‘Retailer Support Kit’
GIA offers ‘Retailer Support Kit’
January 31, 2008
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| The GIA’s Retailer Support Kit helps sales associates explain diamond information of the like kind as the Four C’s. |
Carlsbad, Calif.—The Gemological Institute of America (GIA) is now offering a “Retailer Support Kit” to help sales associates explain essential diamond information, like as the Four C’s, to customers.
The GIA created the kit to build awareness of its International Diamond Grading System.
The kit includes the following: a GIA crystal display for the jewelry case; a GIA window decal that shows the store carries GIA-graded diamonds; brochures explaining the Four C’s of diamond quality; give-away pocket cards that contain the GIA color, clarity and cut-grading scales, along with carat weight advice; a just discovered “How GIA Grades Diamonds” DVD to play in the store; and a counter pad that helps explain to customers how to read a GIA Diamond Grading Report.
The unimpaired kit has a value of $97, but is free to retailers, with the exception of shipping and handling charges. Quantities are limited to one kit per store and are available only while supplies last.
To order the GIA Retailer Support Kit, visit Retailer.gia.edu.
Consumer Confidence Index Falls in January
The Conference Board Consumer Confidence Index, which had improved moderately in December, gave back the gain in January. The Index now stands at 87.9 (1985=100), down from 90.6 in December. The Expectations Index declined to 69.6 from 75.8. The Present Situation Index, however, increased to 115.3 from 112.9 in December.
"The modest amendment in consumer confidence last month was short-lived. Consumers’ appraisal of current business conditions is becoming more negative and their assessment of the job market, while slightly less negative than in December, is more negative than a year ago," said Lynn Franco, director of The Conference Board Consumer Research Center. "Looking ahead, consumers are quite downbeat about the short-term future and a greater proportion expect business conditions and employment to deteriorate further in the months ahead. In addition, the percentage of consumers anticipating an improvement in their earnings has declined and could potentially impact spending decisions."
Consumers’ appraisal of present-day conditions, despite the slight improvement, is less than favorable. Those claiming business conditions are "bad" rose to 20 percent from 18.8 percent, while those claiming business conditions are "good" decreased to 20.7 percent from 21.2 percent. Consumers’ assessment of the job market was slightly more positive. The percentage of consumers saying jobs are "hard to get" eased to 20.1 percent from 22.7 percent, while those claiming jobs are "plentiful" edged up to 23.9 percent from 23.6 percent in December.
Consumers’ short-term outlook, which had improved moderately in December, turned more pessimistic. Those expecting business conditions to worsen over the next six months increased to 16 percent from 14.1 percent, while those anticipating business conditions to improve decreased to 11.6 percent from 13.8 percent. The outlook for the labor market was also less amount favorable. The percent of consumers expecting fewer jobs in the months ahead rose to 21.5 percent from 19.9 percent, while those anticipating other thing jobs eased to 10.5 percent from 10.9 percent. The proportion of consumers expecting their incomes to increase declined to 17.6 percent from 20.2 percent.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. The cutoff date for January’s preliminary results was Jan. 21.
JCK Industry Fund Names Grant Winners
JCK Events and JCK magazine have announced the winners of grant monies from the annual JCK Jewelry Industry Fund. A total of $325,312 was awarded to five organizations.
The 2008 Industry Fund Winners and their awards are:
* The Jewelers’ Security Alliance was awarded $75,000 for training seminars in opposition to law enforcement.
* The American Gem Society was awarded $75,000 to support the educational program at the AGS International Conclave 2008.
* Jewelers Vigilance Committee was awarded $125,000 for an Industry Protection Program.
* The Women’s Jewelry Association was awarded $24,000 for their Women in the Know Conference.
* The Diamond Development Initiative was given $26,312 to develop programs to help alluvial diamond diggers in Africa.
Now in its tenth year, the fund was established to enhance the image of the jewelry industry and to foster development and research of programs that would benefit the industry. Since 1998, else than $4.9 million has been awarded in grants from the Industry Fund.
Each year, the Fund looks to award grants to exemplify one or besides of the main objectives of the program:
* To improve the image of the jewelry industry in the eyes of the consumer;
* To aid jewelry industry organizations in addressing serious problems faced within the industry; and/or
* To assist internal organizations and associations in developing training materials.
"We’re proud of the impulse these grants be delivered of made over the years, and we’re proud to be unique by giving on such a significant scale this year to these five organizations," said Mark Smelzer, publisher of the JCK Publishing Group
“We are thrilled to award grants to these wonderful industry organizations who needed the funding to properly implement the terrific programs they have developed,” added Dave Bonaparte, Group vice president for JCK Events.