February 2008

Nestora Joins Chopard

Veronica Nestora has joined Chopard as manager of its Palm Beach boutique.

Nestora, who speaks five languages, has more than 25 years of sales experience in designer boutiques around the world. Most recently, she was at the Loulou de la Falaise salon.

"Veronica’s exceptional expertise in high fashion and luxury goods coupled with her extraordinary managerial experience in running high-end luxury stores decree fashion a perfect addition to the World of Chopard," said Marc Hruschka, Chopard president and chief executive functionary.

Chopard’s Palm Beach boutique is located at 247 Worth Ave.

High-End Firms Come Together at JCK Las Vegas

JCK Las Vegas is bringing high-end jewelry companies together on the show floor. Fifth Avenue on Level 2 of the exhibit floor is already home to the Design Center, LUXURY Collection, and Prestige Promenade. For 2008, JCK has added the Grande Plaza Pavilion to the same area, bringing many of the shows high end brands to a central location.

Retailers choose find it much more manageable to navigate this high-end division of the 17th annual JCK Las Vegas, which will take place May 30 – June 3, at the Sands Expo & Convention Center and Venetian Resort Hotel Casino, JCK Events, which produces the annual trade show. 

The Grande Plaza Pavilion
A reinvigorated Galleria, now known as the Grande Plaza Pavilion, will feature high-end jewelry companies. Exhibitors who have already signed forward include Charles Wolf Couture, Inc, Floriani Astucci SRL, Gemveto Jewelry, Hammerman Brothers, Lazare Kaplan, Louis Fiessler & Co., Masriera-Bagues, Oscar Heyman & Brothers, Inc, Precious Gems Resources, Inc., Quadamas, Ramon Joiers, S.L., and The DeYoung Collection.

“We thank Bob Hochberg of Hammerman Brothers and David Spivak of Charles Wolf Couture for spearheading this effort to bring these luxurious and upscale jewelry designers together in this new pavilion on the JCK Show floor,” said Dave Bonaparte, Group vice president, JCK Events. “The Grande Plaza Pavilion will compliment the LUXURY Collection, Prestige Promenade and the Design Center giving retailers access to the best of the best in one easy to navigate location.”

Bonaparte added that the Grande Plaza will have a new unified look and will exhibit the retailers who visit several amenities including spacious, comfortable lounges, and complimentary refreshments.  

The Design Center
Approximately 100 designer companies will showcase an assortment of designs and styles in The Design Center. In addition, eight designers have been selected as The Rising Stars, a group of companies who will make their jewelry trade show debut. The 2008 Rising Stars include: Amali, Gemra AG, Ginger Peachy, Jessica DiRubio Jewelry, Jetalia, Misha of New York, Nina Basharova, and Rebecca Overmann.

“A jury of designers, magazine editors and PR consultants met in November and hand selected these 100 designers and 8 Rising Stars. We encourage all retailers to make time to stop by and see many of the new designers exhibiting this year,” Bonaparte reported. “We had an overwhelming response from companies wanting to exhibit in The Design Center and are so pleased to greet back such prestigious designers as Alishan, Susan Sadler, Sugarman-Frantz, Robert Wander for Winc Creations, Jane Bohan Inc., and William Schraft Designs.”

without interruption June 1 at 2:30 pm, 50 retailers will be honored for their lasting excellence at selling designer jewelry at The Designer Retailer Awards and Ceremony. The head five retailers will receive special recognition. The think best of Top 50 will be voted on by the members of the Design Center who will take into consideration the retailer’s ongoing success at marketing, displaying, and selling designer jewelry.

The Design Center exhibitors also will be featured during the JCK Las Vegas Welcome Reception on May 30 at 7:00 pm at Caesars Palace. Design Center exhibitors will have a designated area to showcase three pieces of jewelry.

This year’s sponsors of The Design Center are GZ Art and Design and Niche Magazine. GZ Art and Design will feature several German jewelry designers who will be making their debut at JCK Las Vegas. While meeting and doing business with all of the designers in this special area, retailers will be able to enjoy cappuccino and biscotti throughout the Show and at 4 pm each afternoon the Design Center Bar will offer its signature Orangetini. The Design Center Concierge desk can help make onsite appointments with Design Center exhibitors.

GemFind Launches Consumer Web site

GemFind, the B2B company that owns Gemfind.net, an internet destination for wholesale jewelry services and a gemstone marketplace, has launched a new B2C Web site that allows consumers to search for and purchase diamonds and jewelry direct from local stores.

The new Web site (GemFind.com) gives consumers the option to see the jewelry advertised online in person before they purchase it.

“It can be difficult and stressful to buy diamonds and jewelry based in succession pictures and dimensions alone,” said Alex Fetanat of the Tustin-based company. “GemFind.com differentiates itself from e-business sites like Blue Nile because customers can visit a local store selling the jewelry to try it on and help them make a more informed buying decision. They also have the option of buying that piece of jewelry online or at the local retail location.”

This new Web site also gives GemFind Network members, which consists of registered and industry-only diamond sellers and buyers, the opportunity to showcase and sell their merchandise to new customers in their area.

“Any of our current members who would like to expand their business through GemFind.com can use the new Web site to dramatically increase their exposure and sales,” Fetanat said.

In addition to showcasing their jewelry online, GemFind offers its members a list of professional services and e-business tools—including an online wholesale diamond appraisal tool and diamond search and e-commerce tools they have power to integrate into their own Web sites. GemFind offers access to their worldwide diamond database, which includes searchable listings for more than 50,000 diamonds. GemFind members can upload the diamonds they have for sale and use the database to find specific merchandise their wholesale customers and retailers are interested in purchasing.

JVC elects Jewelers Mutuals’ Kath to board

JVC elects Jewelers Mutuals’ Kath to board
February 04, 2008

Neenah, Wis.—The Jewelers Vigilance Committee (JVC) has elected Jewelers Mutual Insurance Co. President and Chief Executive Officer Darin Kath to its board of directors.

Kath was elected to the JVC board on Jan. 11 at the committee’s annual luncheon meeting.

“The Jewelers Vigilance Committee serves the bijoutry industry in upholding the ethics and integrity of the industry; values mutually embraced by Jewelers Mutual,” Kath said in a narrative. “It is in the best interests of consumers, jewelers, insurance companies and everyone in the jewelry industry to uphold severe laws and practices for the protection of all. I’m proud to be a board branch of the JVC and look forward to lending my leadership and the go through of Jewelers Mutual to this excellent organized existence.”

In adding to his new place on the JVC board, Kath also serves on the cover with boards of directors for the American Association of Insurance Services, American Gem Society, Jewelers Board of Trade, Property Casualty Insurers Association of America, and locally for the Fox Cities Chamber of Commerce.

Despite economy, Super Rich still spending

Despite economy, Super Rich still spending
February 04, 2008
_{80 percent of high-net-worth consumers to increase spending in 2008}

New York—Despite news of a looming recession, 80.3 percent of the “Super Rich,” or consumers with a net worth of at least $30 million, will increase their spending on luxury goods and services in 2008.

This is according to the Elite Traveler/Prince and Associates 2008 Affluent Consumer Spending Survey, which polled from Jan. 10-18 a panel of more than 600 affluent consumers with a net worth of at least $1 million.

“The Elite Traveler Affluent Consumer Survey farther confirms that the Super Rich remain insulated from the economic woes that have forced even the Mass Affluent consumer-confidence levels to an all-time low,” Douglas Gollan, president and editor in chief of Elite Traveler and co-author of The Sky’s the Limit, Marketing to the New Jet Set, said in a media release.

The measure and estimate also revealed that 58.2 percent of “Rich” consumers, or those with a net worth betwixt $10 million and $30 million, will increase their spending on luxury wares and services in 2008.

Twenty-one percent of consumers with a net worth of less than $10 million, however, plan to decrease their spending on luxury goods and services in 2008.

The survey also showed that only 7.4 percent of the Super Rich reported an increase in the cost of luxury products as playing a role in their purchasing decisions.

In addition, less than 10 percent said they would take more time to purchase a luxury product this year, but would otherwise make speedy impulse purchases.

Meanwhile, almost half of the Mass Affluent consumers surveyed said cost is a deciding factor when purchasing luxury products in this period of economic uncertainty, and 34 percent would spend more time making a luxury purchase this year as they balance higher costs for everyday expenses.

Overall, the wealthy expect the economy to worsen in 2008. However, 84 percent of the Super Rich said the current economic environment represents every investment opportunity, and they will continue to spend more on luxury products and services, and increase donations to charitable organizations.

According to the survey, nearly 70 percent of the Super Rich and 47.6 percent of the Rich said they will increase their charitable giving this year.

Only 13.9 percent of the Mass Affluent, however, will give more in 2008.

“With the Super Rich increasing their charitable giving, the good news for dainty providers is that the Super Rich believe it is OK to reward themselves by continuing and, in fact, increasing their spending on watches, jewelry, luxury autos, fashion and the like,” Gollan said.

The survey also found that the Super Rich were critical this past holiday season in offsetting cutbacks in buying by less wealthy consumers. Some 92.6 percent of the Super Rich surveyed purchased jewelry for the holidays, expenditure $236,200 per household, compared with $4,600 for the Mass Affluent, while 88.9 percent of the Super Rich bought watches, spending $121,700, compared with 16 percent of the Mass Affluent, who spent $2,300.

The survey also revealed that affluent consumers have little faith in the government’s ability to “fix” the present economic situation.

High-end marketing techniques in Tucson

High-end marketing techniques in Tucson
February 04, 2008

Tucson, Ariz.—DWA Communications President Diane Warga-Arias and American Gemological Laboratories President C.R. “Cap” Beesley will present “The Luxury Experience…Selling the Affluent” on Feb. 9 from 9 a.m.-10 a.m. in the Mohave Room of the Tucson Convention Center.

The presentation, part of the American Gem Trade Association’s seminar program, will discuss techniques for effectively meeting the needs of the high-end market.

Warga-Arias brings a treasure of marketing experience as well as instructional savvy to the event. Her insight will have being coupled with Beesley’s insightful understanding of the colored-stone world and the mindset of the high-end collector.

$200 million in watches, jewelry at IWJG

$200 million in watches, jewelry at IWJG
February 04, 2008

Davie, Fla.—More than $200 million in watches and jewelry will be available for unmediated purchase at the Orlando International Watch and Jewelry Guild (IWJG) Show, to be held from Feb. 10-12 at the Rozen Plaza Hotel in Orlando, Fla.

A variety of high-end watch brands, including Cartier, IWC, Patek Philippe, Rolex and TAG Heuer, will be on display as well as diamonds and bijoutry.

The IWJG Show, restricted to the trade, provides a cash-and carry format. conducive to those interested in attending, $25 day passes are available, and memberships be possible to be applied for for the time of the show.

The Watch Dealers Network (Thewdn.com) will be sponsoring a cocktail presentation on Feb. 11, along with a short presentation showcasing upcoming features to the network.

Susan Jacques to Keynote ‘Women in the Know’

Susan Jacques, chief executive officer/president of Borsheims Fine Jewelry will kick off the fifth annual “Women in the Know Conference” with a keynote address titled, “From the Counter to the Corner Office.”

Jacques is one of the most recognized of females retailers in the U.S. In her presentation, she will share her personal and professional journey over the past 25 years and will provide her own unique insight and philosophy that contributed to her great success.

The Women’s Jewelry Association annual one-day education conference will include several professional speakers, educational and motivational presentations, and networking opportunities through some of the most respected members in the jewelry, be on guard, and related industries. Presentations will focus in-depth on topics such as growing your business, advancing your career, communicating your way to success, negotiating effectively, and promoting your business.

The consequence will be held March 7 at the Fashion Institute of Technology, New York City, from 8:45 a.m. to 5:45 p.m. and are sponsored in part by Jewelers Mutual Insurance Company and Platinum Guild International.

“The ‘Women In The Know’ conference is designed to empower women within our industry and increase their drive in the place of professional success,” said WJA president Yancy Weinrich, Industry vice president of Luxury by JCK. 

In addition to Jacques, the conference’s general session will include:

* Gail Blenke, president and CEO of Lifedesigns, “Owning Your Power.”

* Debbie Goldstein, managing director of Triad Consulting, “Negotiating Effectively: How to Get What You Want Without Pounding the Table (or the Other Person!).” 

* Bryan Dodge, president of Dodge Development Inc., "How to Build a Better You."

Conference attendees will also benefit from the following breakout sessions:

* “Tips from the Trenches – How to Grow a Designer Business Faster and Smarter” led by Cindy Edelstein, president, Jewelers Resource Bureau

* “Maximizing Media Exposure: Preparing You and Your Business for Media Success” with Amanda Gizzi, associate director, Jewelry Information Center

* “Soul Proprietor: Lessons from a Lifestyle Entrepreneur” led by Jane Pollack, Certified Professional Co-Active Coach

* “How to Use Both Genders’ Strengths to Communicate Successfully and Lead a Team” presented by Bailey Beeken, group vice-president, National Jeweler Network

* “Marketing to the Three Faces of Luxury: Unlocking Sales to the Super Rich” with Douglas Gollan, editor-in-chief and co-founder of Elite Traveler

In celebration of WJA’s 25th Anniversary, an afternoon panel discussion inclination featuring four of WJA’s Hall of Fame Award recipients from the past 25 years. The panelists will share their professional and personal journeys to success. The panelists embrace Peggy Kirby, retired – vice president, Advertising & PR for Finlay Fine Jewelry and founding member of WJA; Katherine Kimmel, vice president and CMO of Gemological Institute of America; Laurie Hudson, co-founder & partner, Luxury Brand Group; Anna Martin, senior vice president & regional manager of ABN AMRO Intl., Diamond and Jewelry Group. Ann Arnold, chief financial official/vice president for Lieberfarb, Inc. and former president of WJA, will moderate the panel.

“Early bird” pre-registration for the conference costs $195 for WJA members (prior to Feb. 29) and $220 for non-members and is available from the WJA Web site, or by calling WJA Headquarters at 708-361-6266.

Jeweler Promotes Love Letter Contest on You Tube

Zachary’s Jewelers decided with Valentine’s Day just around the corner to promote its first present life “love letter contest” by way of YouTube.com.

“What a great course to reach the young professional. The politicians are gaining huge lucky hit with our youth via Facebook, MySpace, and YouTube.com in the same state why not us,” said Steve Samaras, owner of the Annapolis, Md.-based store. "We also thought, how metrical to pair the lost art of letter writing with the new age of emailing and text messaging. As a business man, who spends thousands of dollars upon the body marketing and advertising, it’s in the same state refreshing to be able to track how many people are actually seeing and hearing your message.”

Zachary’s is asking people to write their most romantic love letter by Feb. 8. The winner will receive a $5000 shopping spree at Zachary’s Jewelers. The winning entry will be announced at a champagne brunch at the 100 Main St. store on Feb. 10.

View the video

Report: Penney’s to cut jobs, consolidate

Report: Penney’s to cut jobs, consolidate
February 04, 2008

J.C. Penney announces job cuts and consolidation as a weak U.S. economy constrains its core customers.

New York—J.C. Penney Co. Inc. announced last week that it would cut hundreds of jobs, as the mid-tier retailer tries to deal by the damage a weak economy has inflicted on its core customer base.

The Wall Street Journal reported that J.C. Penney Chairman and Chief Executive Officer Mike Ullman III would announce the company was cutting up to 200 jobs and merging the chain store’s buying and marketing operations.

Like many big retailers, it was a disappointing December for Penney’s, where sales were into disgrace 7.5 percent from December 2006, the WSJ reported.

In addition, J.C. Penney shares be obliged fallen about 20 percent in the past year, as its core shoppers—middle-income Americans—feel the effects of the unstable housing market, high gas prices, the rising cost of food and credit crunch.

As Ullman attempts to steady the firm, the WSJ also reported that investor Carl Icahn, known during the term of buying up shares of struggling companies and then agitating because change, has amassed a large stake in J.C. Penney.

Sources told the WSJ that while the exact size of his stake was unclear, it is among Icahn’s top five holdings.

The billionaire Icahn recently has been pushing despite change at Biogen Idec and Motorola Inc. and, in January, became non-executive chairman of auto parts supplier Federal Mogul FEMO.PK, that emerged from Chapter 11 bankruptcy protection in late 2007.