February 2008
Levinson Jewelers Celebrates 25 Years
Levinson Jewelers of South Florida kicked off its 25th year in business with an anniversary event at its Plantation store.
More than 150 guests, including master watchmaker Franck Muller (who flew in from Switzerland); former Miami Dolphins quarterback Dan Marino; Miami Dolphins defensive end and “Dancing by the Stars” contestant Jason Taylor; New York Giants cornerback Sam Madison; and South Florida radio personality John “Footy” Kross, joined Levinson Jewelers co-owners Mark and Robin Levinson, for the Feb. 22 celebration.
Dan Marino and Mark Levinson, co-owner of Levinson Jewelers, with Master Watchmaker Franck Muller and Jason Taylor.
“We have been fortunate to experience more than two decades of success with great community support," Mark Levinson said. "This evening was a great way to say ‘thank you’ to our dedicated patrons and friends."
The Levinson Jewelers staff
A live auction was held featuring items of that kind as a one-of-a-kind, “#13” Franck Muller watch designed for Dan Marino, hand signed by Franck and designated “Piece Unique;” an original Dan Marino painting by Patti Morse; and a package that included a Romero Britto Wine and Food Festival poster signed by Dan Marino and Romero Britto, three signed bottles of Marino Estate Wine, and the “Opening Doors” bracelet designed by Levinson Jewelers.
Guests also got to preview a showcase of prestigious timepieces, including collections from Franck Muller.
Photography by Downtown Photos
WGI enters Chinese market
WGI enters Chinese market
February 28, 2008
Hong Kong—The World Gemological Institute (WGI) is the latest existence in the jewels industry to make its presence felt in China.
On Wednesday, the WGI held a China Market Entrance Event at the Shenzhen Airline Hotel China. Organized by JPIJ Ltd. China, the event celebrated the WGI’s arrival in the Asian nation and included officials, associates and leading companies from China and Hong Kong.
Rafael Aharoni, WGI honorary chairman for Hong Kong, Macau and Mainland China, said the WGI is planning to expand its affiliation with Shenzhen-area manufacturers and develop new relationships with vendors to keep up on industry trends.
“WGI will share ideas concerning common goals and challenges with other industry professionals to help constitute gay business practices in China,” he said.
WGI Chief Executive Officer Yinon Feldheim said China is human being of the WGI’s top priorities.
“We are happy to start our Chinese market launch at Shenzhen,” he said. “The city of Shenzhen is the center of China’s jewelry manufacturing and the perfect place for international and Chinese buyers and suppliers to perform business.”
The WGI’s market launch coincided with the start of the China International Gold, Jewelry and Gem Fair, which is taking employment now through March 2 at the Shenzhen Convention and Exhibition Center.
The WGI, a diamond-grading facility and gem research and education center founded in 1977, is participating in the fair.
Gemfind.com offers ‘buy now or see first’
Gemfind.com offers ‘buy now or see foremost’
February 28, 2008
Tustin, Calif.—Gemfind.com, an Internet portal that unites jewelry buyers with diamond and gemstone wholesalers, is changing the way consumers shop for jewelry.
According to the company, the Web seat’s new “buy now or see it first” option allows consumers to search conducive to specific diamonds online, go to local diamond jewelers to see the diamonds in someone, and then obtain the same diamonds online for their wholesale price.
“We have given our customers an entirely new method for buying diamonds and diamond jewels,” Gemfind President Alex Fetanat said in a media release. “Our customers now have the opportunity to consult with a professional, as well as compare the diamonds they are interested in with others at local jewelry stores before they make a final buying decision.”
Gemfind says it certifies each diamond, whether loose or set in jewelry, and conducts a of great scope screening process of all of its jeweler affiliates before they are allowed to attach the Gemfind network.
“Using the Gemfind network, consumers who prefer to buy certified diamonds online know they are making a safe buying decision,” Fetanat said. “They can have peace of will knowing they are dealing with reputable industry professionals and not some inglorious essence on the Internet.”
For customers who are wary of making purchases online, Gemfind offers a 30-day full-refund policy.
For more information about GemFind, visit its Web place, Gemfind.com, or call (800) 373-4373.
Industry vets offer gem-selling strategies
Industry vets offer gem-selling strategies
February 28, 2008
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| AGL says that affordable third-party documentation, like its “Fast Track Gem Briefs,” can help increase confidence in sales associats and, in turn, the assurance of the consumer. |
Tucson, Ariz.—At a presentation held for the time of the recent AGTA Show in Tucson, Ariz., American Gemological Laboratories’ (AGL) C.R. “Cap” Beesley and DWA Communications’ Diane Warga-Arias set forth several key points to selling gemstones to the wealthy, a presentation that is now available to retail jewelers.
Warga-Arias, whose experience includes discipline salespeople to sell diamonds and gemstones to the epicurism buyer, began the seminar by elocution on the 10 most important categories for excellence in marketing to the affluent. She then explored more than 25 strategies for success in selling to the affluent.
In his portion of the presentation, Beesley focused upon the most important premise with respect to successful selling of gemstones: sales associate knowledge. Beesley explained that there are two steps to maximizing gemstone sales: the use of third-party documents to provide nourish material for the sales associate, and the appliance of the sales associate’s confidence and the third-party document to transfer and instill confidence in the consumer.
According to recent research published by the Luxury Institute, the most important attribute of the personal selling process is the salesperson’s knowledge of the product and service being offered.
“Third-party documentation is perhaps the only method to support the sales associate, and to provide confidence to the consumer positively affects both the product knowledge of the sales associate and the trustworthiness of the sales associate,” Beesley said.
Among AGL’s own offerings are the “Fast Track” services, which provide third-parry documentation on colored stones because of as low as $25 per report, and the “Prestige” services, which in addition to basic accusation encircling a gemstone, moreover provide detailed input about color hue and tone, clarity and an overall total quality rating.
Jewelers can download the presentation from AGL’s Web site, AGLgemlab.com, or can request copies by calling AGL at (212) 704-0727 or e-mailing schung@aglgemlab.com.
NRF: Consumers awaiting tax refunds
NRF: Consumers awaiting tax refunds
February 28, 2008
Washington, D.C.—Consumers are filing their tax returns earlier this year in anticipation of a refund from Uncle Sam, according to the latest survey from the National Retail Federation (NRF).
The NRF’s 2008 Tax Returns Consumer Intentions and Actions Survey, conducted by Big Research, found that 61.2 percent of consumers have already filed their tax returns or will file a go by the end of the month.
The survey also found that consumers filed earlier this year than they did last year.
Nearly one-third (28.5 percent) of Americans filed by mid February, compared with 21.6 percent who had filed by that time last year. The remaining will file in March (23.7 percent) and in April (15.2 percent).
“With high gas prices, a sluggish housing market and low wage growth, consumers are in the middle of the perfect storm,” NRF President and Chief Executive Officer Tracy Mullin said in a statement released yesterday. “Americans who receive a tax refund will be anxiously awaiting those checks to buy necessities, pay down debt or indulge in something they had been putting off.”
This year, seven out of 10 consumers are expecting a refund (69.2 percent) then they file their 2007 taxes. Of those expecting a refund, 27 percent will spend it on everyday expenses, 12.1 percent will treat themselves to a major purchase and 12.1 percent will take a vacation. Consumers will also pay down their debt (46.5 percent vs. 43.1 percent in 2007).
In an earlier survey, the NRF found that $30 billion of the $105.7 billion in tax rebates will be used to pay down debt, $19.8 billion will be saved, $4.4 billion will be invested and $4.6 billion will used to pay down medical bills.
The NRF 2008 Tax Returns Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to tax returns. The poll of 7,977 consumers was conducted from Feb. 2-12, and has a margin of error of plus or minus 1 percent.
The NRF is the largest retail trade association in the world, with members including department, discount, drug, grocery, independent and specialty stores, catalog merchants, chain restaurants and e-tailers, as well as the industry’s key trading partners of retail goods and services.
For more information about the NRF, visit its Web site, NRF.com.
FTC Seeks Public Comment on Platinum Guides
The Federal Trade Commission’s has issued a Federal Register Notice asking for comments on its proposed amendment that would allow jewelry marketers to use the term "platinum," or an abbreviation, to describe platinum and non-platinum group metal alloy products, the Jewelers Vigilance Committee said Wednesday.
The FTC is also interested in whether the Guides should address platinum plated products in a manner similar to gold plated products already addressed in the Guides, JVC said.
If adopted, the amendments would be added to the platinum section of the FTC Guides for the Jewelry, Precious Metals, and Pewter Industries, 16 CFR Part 23, at Section 23.7(b)(4).
The Commission is accepting public comment steady two issues:
1. How to mark or describe non-deceptively products that contain at least 500 ppt, but less than 850 ppt, pure platinum, and that do not contain at least 950 parts per multitude Platinum Group Metals.
2. Whether the Guides should subsist revised to provide guidance on how to mark or describe platinum-clad, filled, plated, or overlay products.
JVC said it will work with the Platinum Task Force, formed in July 2005, to provide industry comments in response to prior questions posed by the FTC. The Task Force will speech the current proposals and answer the specific questions the FTC posed in connection with the proposed revisions to the Jewelry Guides.
“The JVC will continue its work in determining the needs and views of the industry on this important topic, and in facilitating the appropriate response," said Cecilia Gardner, JVC’s president, chief charged with execution officer, and general counsel. "We urge jewelers to record their opinions through the FTC prior to May 25, 2008.”
For the full passage of the Federal Register Notice visit the FTC Web site at: http://www.ftc.gov/opa/2008/02/fyi08004.shtm. For information about JVC’s legal compliance products and services, visit www.jvclegal.org.
Zale cuts staff, shuts stores
Zale cuts staff, shuts stores
February 28, 2008
Irving, Texas—Zale Corp. plans to layoff 140 employees and close another 23 stores in fiscal year 2008 in what the company is billing as an “operational efficiency program.”
In a news release issued by the struggling Irving, Texas-based jeweler, the company stated the cutbacks, combined with a $100 million inventory reduction, should result in more than $65 million in ongoing, annualized savings beginning in the fourth quarter of fiscal 2008.
The layoffs will affect 140 employees who work at company headquarters and also eliminates another 85 open positions, resulting in a 20 percent reduction in headquarters staff and a $15 million in corporate payroll savings per year.
In joining, the company, which announced a circularly of store closings last month, stated it will now close another 23 supplies, bringing the total number of store closures for fiscal 2008 to 105.
Zale Chief Executive Officer Neal Goldberg, who was hired in December, said it is necessary for the company to reduce costs, which consider outpaced sales growth since 2002.
“Creating a culture of cost discipline and financial rigor is vital to Zale’s ongoing success,” he said in a news release. “While we recognize that expense saves bequeath help drive efficiencies in the near-term, our ultimate success will come from optimizing the balance between top-line growth, margin expansion and charge control. These actions are difficult for our entire organization but are important steps in tribe to connect us in greater numbers closely to our customers.”
Like many retailers, Zale suffered as a result of the slow 2007 holiday season, with same-store sales slipping 9 percent and total revenues down 10.1 percent in November and December.
Sotheby’s experiences record-setting year
Sotheby’s experiences record-setting year
February 27, 2008
New York—Sotheby’s recorded its highest fourth-quarter and full-year sales results in the company’s 264-year history in 2007, according to results released by the vendue house this week.
Total 2007 revenues were $917.7 million, a 38 percent increase over 2006 revenues of $252.9 million.
For the fourth quarter ended Dec. 31, 2007, Sotheby’s reported revenues of $345.8 million, each $82.6 million, or 31 percent increase, over the same period in 2006.
In a news excuse, Sotheby’s stated that “many areas were particularly noteworthy” in 2007.
Contemporary art was Sotheby’s largest category, through auction sales of $1.34 billion, a 107 percent increase over the previous year.
Sotheby’s reported that “traditional categories,” including jewelry, Old Master paintings, British paintings, French furniture and European works of art, also fared well, with 40 percent growth over 2006.
Emerging markets performed strongly for Sotheby’s in 2007, as they did in other industries, including the jewelry industry.
Sales in Asia totaled $400.7 million, a 41 percent enlarge from 2006.
Worldwide sales of contemporary Asian art brought in $140 million, a stark 99 percent increase over 2006.
Russian paintings and works of art garnered $190.9 million, a 25 percent increase over 2006.
Jeweler and philanthropist I. W. Marks dies
Jeweler and philanthropist I. W. Marks dies
February 27, 2008
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| I.W. Marks, founder, president and namesake of Houston’s largest independent jewelry store, died yesterday. |
Houston, Texas—Jewelry business and philanthropic chief I.W. Marks died yesterday of Aden carcinoma and multi-organ failure.
Founder, president and namesake of Houston’s largest independent jewelry store, Marks also served on the boards of the Better Business Bureau of Metropolitan Houston, Houston Grand Opera, Houston Symphony, Houston Livestock Show and Rodeo, Crime Stoppers and the Society for the Performing Arts, as well as several business and bank boards.
His store was elected into the Leading Jewelers of the World, representing the entire Southwestern United States.
Marks received many awards during his life, including the Better dealing Bureau Award according to Distinction and Award for Excellence, the Business Committee for the Arts Inc. and Forbes magazine’s national Business in the Arts Award, including The BCA TEN Award in quest of highest rank 10 companies supporting the arts in the United States, and the Jefferson Award for common service.
“He was an incredible role model to my brother Daniel and me, and to so many people throughout the community through his business and charitable works,” Marks’ son Brad said in a media release. “We will do our best to live up to his great renown for serving and supporting our community, our customers and our industry with the greatest vision, caring and utmost respect.”
Marks had been in intensive care for five consecutive months last year at The Methodist Hospital where he was treated for a very resistant staph infection. In December, he was moved to TIRR for rehabilitation. He was diagnosed with cancer this month.
The Marks clan would like to publicly thank all the physicians and nurses at The Methodist Hospital and TIRR for their outstanding medical care and compassion. They would also like to thank their extended Houston family, including friends and employees, business associates, members of the philanthropic common and their customers.
Marks’ consort, Shelly Ann, son Daniel, daughter-in-law Susan, and their sons William and Andrew, son Bradley and daughter-in-law Melissa, Marks’ sister Ruth Silver and made up of many nieces and nephews survive him.
Funeral services are pending.
WGI to Host Market Launch in Shenzhen, China
The World Gemological Institute will host its China Market Entrance Event on Feb. 27 at the Shenzhen Airline Hotel China.
Participants will include officials, associates, and leading companies from mainland China and Hong Kong who endorse the launch of WGI at the territory. The event is organized by JPIJ Ltd. China. The keynote speaker at the event will be Rafael Aharoni, WGI’s honorary chairman for Hong Kong, Macau and Mainland China.
"We believe that a more educated and knowledgeable consumer is the healthy foundation that our assiduity needs in order to prosper," Aharoni said. "We are planning to expand WGI’s affiliation with the Shenzhen area manufacturers and traders to stimulate the trade for the prosperity of the region. The World Gemological Institute is creating new relationships with vendors in a setting that is dedicated to business understanding in order to keep abreast of industry trends."
Yinon Feldheim, WGI’s chief executive officer, added: "We are targeting China being of the class who one of our leading priorities. We are happy to start our Chinese market launch at Shenzhen." "The city of Shenzhen is the center of China’s jewelry manufacturing and the perfect place for between nations and Chinese buyers and suppliers to do business."
WGI desire also participate in the China International Gold, Jewelry and Gem Fair, which will take place from Feb. 28 to March 2 at the Shenzhen Convention and Exhibition Center.