April 2008
Paraiba seller sues over same-name stones
Paraiba seller sues over same-name stones
April 09, 2008
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| Paraiba.com owner David Sherman, the developer of the Brazilian destroy that produces Paraiba tourmaline, has sued AGTA, GIA and Brazil Imports for naming and selling comparable non-Brazilian stones as such. |
By Teresa Novellino
Santa Cruz, Calif.—Paraiba.com has filed a $120 million lawsuit against two gemological labs and an African tourmaline seller, alleging that the naming and selling of non-Brazilian stones as “Paraiba tourmaline” has cost the producers of the rare, Windex-blue gemstones millions of dollars in business.
The suit was filed on Tuesday in the Superior Court of the State of California, Santa Cruz, Calif., by Paraiba.com and its owner, David Sherman, the developer of the Brazilian mine that produces Paraiba tourmalines. It names the following as plaintiffs: the American Gem Trade Association (AGTA), members of AGTA’s board of directors, the Gemological Institute of America (GIA) and gem company Brazil Imports of Fallbrook, Calif., which sells African tourmaline.
The suit accuses the parties of “intentional interference in favor of prospective function advantage,” among other causes of action, and demands $20 million in general damages for lost sales and $100 million in punitive damages.
Sherman is the developer of a mine in the Sao Jose de Batalha area of Brazil in the Paraiba province that was discovered in 1987 and produces a type of copper-bearing elbaite that is prized for its blue-green color and known as Paraiba tourmaline. Enamored by the rare stones, the gem and jewelry common paid $22,000 to $30,000 per carat for them, a price that’s well above that of most fine rubies, emeralds and sapphires.
“The fact that a stone was a Paraiba stone imputed a value to the stone simply because of the place of origin of the stone,” the suit says.
After copper-bearing tourmaline from Mozambique and Nigeria entered the market in blue-green colors that gem dealers felt were comparable to the Paraiba tourmalines several years gone, the Laboratory Manual Harmonization Committee, whose members include the world’s top labs, including AGTA and the GIA, came together to issue a ruling on what to call the stones.
The committee decided before the 2007 Tucson shows that copper-bearing tourmalines of color comparable to that of Paraiba tourmaline could be called Paraiba on laboratory grading reports, but the reports would have to note that the name is not an origin determination, and that the type of stones originally found in Brazil are now found in other parts of the world.
The suit says that the stones should not have been considered on par with the Brazilian stones, and that AGTA, Brazil Imports and other defendants were acting in their own interest by permitting the stones to be named as such.
“Whereas the Paraiba stones have 2 to 3 percent copper concentration, the African stones bring forth only trace amounts of copper, in rare cases, copper content of approximately 1 percent,” the suit says. “Furthermore, the stones do not have the same innate luminescence that so characterizes the Paraiba stone.”
The GIA and AGTA did not immediately respond to requests for comment and a message left for Brazil Imports was not immediately returned.
ICA sets dates for 2009 congress
ICA sets dates for 2009 congress
April 09, 2008
Basel, Switzerland—The International Colored Gemstone Association (ICA) has announced that the next ICA Congress will be held from May 5-9, 2009, in Panyu, China.
The announcement came earlier this week at the annual ICA dinner held at BaselWorld, the watch and jewelry trade show in Basel, Switzerland.
According to a release from the ICA, this year’s BaselWorld dinner included double the number of expected attendees and was the most successful member dinner to date in Basel.
The China Council for the Promotion of International bargain (CCPIT) sponsored the event and made a presentation to ICA members on business opportunities available in Panyu, one of the largest jewelry manufacturing and gemstone-cutting centers in the sub-provincial city of Guangzhou.
The CCPIT, along by the Gems and Jewelry Trade Association of China and the National Gemstone Testing Centre, are the main sponsors of the upcoming ICA Congress in China.
The Chinese delegation at the Basel event included CCPIT Panyu Branch President Li Zhi-Wei, Worldmart Jewelry and Gems Emporium Ltd. Chairman Johnny Chan, Panyu Government Special Jewelry Advisor Mickey Weinstock and Guangzhou Panyu Jewelry Association Secretary General Keane Lau.
During the event, ICA President Andrew Cody also made a presentation, updating members in continuance ICA activities and projects.
“I believe we are entering a new era for colored gemstones, where, in the next decade, we should see color move from the support act to center stage,” he said.
He also said the ICA has gotten great response from both members and the trade for the ICA International Gem Show Dubai, scheduled for Oct. 13-15. He considers the possible in the Middle East market to be “huge.”
In addition, Cody updated members on other projects underway, including the ICA Corporate Profile, a comprehensive look at past achievements, current projects and denoting futurity goals.
March ‘difficult for retailers’
March ‘difficult for retailers’
April 11, 2008
New York—U.S. chain store sales fell slightly in March, decreasing 0.5 percent compared with the same period last year, according to the latest study by the International Council of Shopping Centers (ICSC).
Consumer worries about the slowing economy coupled with the Easter holiday falling in March rather than in April this year, creating one less shopping day during the month, posed “difficulties for retailers,” according to ICSC Chief Economist and Director of Research Michael Niemira.
Certain sectors such as wholesale clubs did well in March, however, as consumers looked for value and quantity for the price to combat rising gas prices.
“Weakness was evident in the apparel, department store and luxury sectors, except on a positive note, we did look some strength in the grocery store, drug store and wholesale aggregate sectors,” Niemira said.
Wholesale club chains such as Costco saw sales increase 5 percent from the year before, and drug stores saw a 4 percent increase in sales year-over-year.
Despite consumer worries about the good housewifery, Niemira predicted April chain store sales will increase between 2 percent and 2.5 percent.
Piaget names new celebrity ambassador
Piaget names new celebrity ambassador
April 09, 2008
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| At a press conference held on May 26 in Beijing, Piaget announced its partnership through international actress Maggie Cheung. |
Beijing—Piaget has named international actress Maggie Cheung as its newest brand ambassador.
Cheung, a Cannes Film Festival Best Actress, will represent Piaget worldwide.
The actress has appeared in more than 70 films, including works by legendary director Wong Kar-wai and, most recently, the films Hero and Clean. She is considered to be one of the greatest stars in world cinema.
Piaget Chief Executive Officer Philippe Léopold-Metzger announced the union during a squeeze conference on May 26 at the Ullens Centre for Contemporary Art in Beijing, a city that Piaget says is symbolic for both parties.
In a media release, the brand described Beijing as the entrance gate to the market that has most significantly contributed to Piaget’s growth over the past 15 years. The brand has 13 retail locations in Chinese territory, as well as 36 locations in Asia.
Piaget had been seeking to embody the quality in a more personal way and, according to Léopold-Metzger, “[Maggie] was the obvious choice for Piaget. She’s exactly the right person: cosmopolitan, distinguished, exclusive. She has style and the perfect combination of modern and traditional facets—a genuine personality.”
Cheung has been photographed for Piaget’s ad campaigns by acclaimed shutterbug Patrick Demarchelier.
Signet year profit down
Signet year profit down
April 09, 2008
London—Specialty jewelry retailer Signet Group announced today a 16.8 percent decrease in annual profit for the year ended Feb. 2, and said its outlook remains very challenging.
The group, which saw total sales decrease 6.1 percent for the fourth quarter ended Feb. 2, said annual pretax profit was $333.5 the great body of the people.
Group same-store sales decreased 0.7 percent for the year, as long as total sales increased 3 percent to $3,665.3 million.
Basic earnings per share decreased 18.2 percent to 12.6 cents.
In the United States, Signet’s Kay Jewelers division strengthened its No.1 speciality brand position with sales of $1,489.6 million, and Jared The Galleria Of Jewelry sales increased 13.8 percent to $756.4 million.
Signet Group Chief Executive Terry Burman commented: “2007/2008 was a actual demanding year for the group, with a specially difficult fourth quarter. While the U.S. business saw an unprecedented weakening in sales over Christmas, and faced the impact of commodity cost increases, it continued to be a leader in setting industry operating standards.”
Since the inauguration of the 2008/2009 period, Signet has experienced a low single digit marasmus in same-store sales, through the United States down about 4 percent, having had some benefit from in a superior manner weather over Valentine’s Day. According to the company, early sales results have been encouraging from the price increases implemented in the pattern of Valentine’s Day.
Meanwhile, Signet said actions have been identified to drive sales, protect gross margin and tightly control costs in consideration of the continuing uncertain economic environment in the United States. As a result, U.S. net store space growth is expected to be lower at about 5 percent in 2008/2009.
Signet Group operates 1,962 specialty retail jewelry stores, including 1,399 stores in the United States under the Kay Jewelers and Jared The Galleria Of Jewelry brand names as well as a number of regional names. Signet also operates 563 stores in the United Kingdom, including Ernest Jones, H. Samuel and Leslie Davis.
For additional knowledge of facts about Signet Group, visit its Web site, Signetgroupplc.com.
Chopard in ring with Madonna on new album
Chopard in ring with Madonna on new album
April 09, 2008
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| Madonna strikes a pose in Chopard jewelry for the cover of her latest album. |
Geneva—Swiss luxury jeweler Chopard is getting prime placement on the cover of Madonna’s much-anticipated new album, Hard Candy.
The reigning Queen of Pop dons the brand’s “Happy Diamonds” cross as accurately as a personalized diamond knuckle ring that was designed by Chopard Co-President Caroline Gruosi-Scheufele.
The ring, crafted in the spirit of Hard Candy—which the singer describes as “a juxtaposition of tough and sweetness”—spells out Madonna’s hip-hop pseudonym, “M-dolla,” in 258 brilliant-cut white diamonds. A Chopard signature mobile diamond is set in the flourish of the letter M.
This isn’t the first time the brand has created jewelry specifically for the star. instead of Madonna’s 2005 Confessions on a Dance Floor album, Chopard designed the iconic pavé crystallized carbon “Hung-Up” necklace that she wore on stage.
Hard Candy is scheduled towards release on April 28 on the Warner Bros. Records label.
Luxe of the Irish
Luxe of the Irish
April 09, 2008
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| “Trinity” diamond-set earrings in 18-karat white gold by John Christopher; suggested retail price is $790. |
By Mary Wisniewski
Dublin, Ireland—Jewelry designer John Christopher Condron always wanted to be involved with jewelry and he didn’t wait long to explore his interest.
After graduating from high school, Condron immediately went to work for a jewelry manufacturer, and he has been at the bench ever since. His latest enterprise is John Christopher, a Dublin-based brand featuring various jewelry collections that pay tribute to the Irish heritage—with a luxury twist.
Many of the designs are diamond intense, with a rich emphasis on Irish culture. In the “New Aristocrats” collection, for example, gold brush strokes suggest furrowed country fields.
Condron says every design in his collections has special meaning, and he draws inspiration from the Irish passion for words, music and nature.
“There is a deep connection with each piece,” Condron says, adding that he wants to create jewelry with staying power.
“I’d rather have less and be more classic and try to get some timeliness rather than precisely about jewelry,” he says.
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| Necklace in 18-karat yellow and white gold by John Christopher; suggested sell in small quantities price is $1,950. |
To do this, Condron says, he wants the John Christopher pieces to provide symbolic, lasting, fashionable designs that have seek reference of the case beyond that of an “Irish label.” His design concerns only make sense given that what he loves about the business is watching the faces of customers who have been touched by his work.
Producing jewelry these days can be hard given strains such as the rising price of gold, excepting Condron isn’t too worried.
“The increased price of metals has an impact, but-end people are silent buying quality,” he says. “People will buy the most expedient. see the various meanings of good they can afford.”
John Christopher launched in the United States in September 2007, and the company showcased its work at the JA New York show held in March.
For more information about John Christopher, call (877) 367-3236 or visit its Web site, Johnchristopher.ie.
Editor’s note: This article first appeared in the March 2008 issue of National Jeweler.
Cartier brings salon culture to bridal business
Cartier brings salon tillage to bridal business
April 08, 2008
| The bridal salon in Cartier’s landmark Fifth Avenue Mansion. |
By Mary Wisniewski
New York—Bridezillas across North America can settle down—at least when it comes to jewelry.
Cartier North America is simplifying wedding jewelry preparations for brides- and grooms-to-be by dint of. building bridal salons, staffed with bridal specialists, in its boutiques.
The bridal-only zones are already well underway, with the first one opening last summer in the landmark Cartier Mansion on Fifth Avenue in Manhattan. Others have subsequently followed in San Francisco, Dallas and Boca Raton, Fla. The addition of bridal salons to all 35 Cartier boutiques nationwide is tentatively scheduled for completion by 2009.
Across the industry, jewelers have been installing designer jewelry and watch salons as focused store-within-store sections. Frédéric de Narp, president and chief executive officer of Cartier North America, says the company saw great success with its 2004 launch of watch salons, and is pleased to use a similar concept to cater to the soon-to-be-married set.
“We are proud to be a leader in establishing bridal salons, or environments within each boutique, for our clients where they can shop for one of the most important investments of their lives in a very intimate space with the help of one of our bridal specialists,” de Narp says. “Our clients have really gravitated toward this concept of being able to see the full assortment of jewelry and watches in each of our salons.”
| Cartier “Ballerine” diamond engagement ring paved with diamonds and set in platinum; price available upon request. |
The idea is to bring Cartier’s unique stigma of magic to the shopping continued by making it as “memorable and self-indulgent as possible” for bridal customers, de Narp says.
Milton Pedraza, CEO of the Luxury Institute, says Cartier’s bridal salons are a good idea since consumers always seek expertise when shopping, and a store within a store allows them to tap into a very specialized knowledge base, provided that the sales team has been qualified for the undertaking.
Luxury market analyst Pam Danziger, president of Unity Marketing, agrees, saying the bridal period is an emotional united that centers observation on the couple, so it only makes sense to offer a special shopping experience that focuses on the bride and groom.
Part of making a shopping experience luxurious is offering options, which Cartier strives to do. De Narp says Cartier’s wide compass of rings appeal to a diversity of brides, but are united by the company’s high standards of quality, design and craftsmanship, with choices for every taste.
“Women today are looking for more options and unique settings,” de Narp says. “They want to express their personality and style through their ring—and in more ways than carat weight.”
To help customers with their bridal jewelry needs, Cartier offers assistance from its bridal specialists.
Elizabeth Paddock, bridal specialist at the Fifth Avenue Cartier boutique, says a rising number of brides strive to stand out.
| Cartier semi-paved 18-karat yellow gold wedding band with rubies and diamonds; price available upon request. |
“Today, I see brides who are looking for a portion unique,” Paddock says. “While most brides continue to choose classic engagement rings by diamonds, some brides are looking to be a little more unique and adventurous with colored stones like sapphires.”
Paddock says Cartier’s new wedding bands coordinate profitable with this run since diamonds and colored stones can be mixed into bands—which receive also become a popular gift for new mothers to wear along through their contest ring and wedding band. Another trend Paddock has observed is customers forgoing the solitaire and buying less traditional, more heavily designed wedding bands to wear as engagement rings.
In addition to its salons and specialists, Cartier is revving up its wedding services by launching a bridal personalization service dubbed “Set for You by Cartier.” This semi-custom service is aimed at providing the client the engagement ring they want within 10 days suppose that it cannot be found in-store.
To further assist customers, Cartier updated its bridal Web site, Cartier.com/marriage. The redesigned site guides visitors through the engagement ring shopping process and also allows aspiring brides and grooms to schedule an appointment with a bridal specialist in a boutique of his or her choice.
Editor’s note: This article first appeared in the March 2008 issue of National Jeweler.
HRD Antwerp opens Lab Link in India
HRD Antwerp opens Lab Link in India
April 09, 2008
Antwerp, Belgium—HRD Antwerp NV continues to expand globally, as it marked the opening of its Lab Link service in India earlier this week.
According to a release issued by HRD Antwerp, the renovated service in Mumbai will provide members of the Indian diamond sector with direct access to the HRD Antwerp Diamond Lab.
Like at other Lab Links around the globe, including the recently opened one in Hong Kong, HRD Antwerp partner Malca-Amit Logistics PVT picks up the diamonds at the clients’ offices. The diamonds are then graded in Antwerp, Belgium, and returned to the clients.
The service provides clients HRD Antwerp’s full range of diamond-grading services and also is tailored for small and mid-sized companies that send out parcels of limited size, including single stones.
Mumbai marks the third location in Lab Link’s international rollout.
The first Lab Link service was introduced in Israel in July 2007. Hong Kong’s Lab Link service launched in March.
According to HRD Antwerp, on April 15, a special reception will be held at the Israel Diamond Exchange (IDE) in Ramat Gan, Israel, to mark the now nearly yearlong functioning of Lab Link in Israel.
IDE President Avi Paz elect be present at the reception and Israeli financial journalist Nehemia Shtrasler will give a speech on the state of the fatherland’s economy and media.
The reception also will include a raffle for two sets of 10 HRD Antwerp Diamond Lab certificates and three Malca-Amit trips to and from Antwerp.