April 2008

NRF: Mother’s Day spending to slip

NRF: Mother’s Day spending to slip
April 22, 2008

Washington, D.C.—Consumers plan to cut back on Mother’s Day gifts this year, spending an average of $138.63 compared with $139.14 in 2007, but will devote more on jewelry, according to the latest study from the National Retail Federation (NRF).

Of the 84.2 percent of consumers celebrating Mother’s Day, the majority testament buy one major gift for mom, instead of exclusive smaller gifts. This will be seen largely in the jewelry category, with those planning to buy spending a total of $2.7 billion compared with $2.1 billion last year.

The percentage of consumers planning to buy jewelry, however, has decreased from last year, from 32.8 percent in 2007 to 29.7 percent in 2008.

When it comes to popular gifts, consumers will spend nearly $3 billion on a special dinner or brunch, $2 billion on flowers, $1.4 billion on clothing and accessories, $1.2 billion on consumer electronics such as digital cameras, digital photo frames and video cameras, and $1.1 billion on personal service gifts such as a trip to a favorite spa or salon. Shoppers will also spend $1.6 billion on gift cards and gift certificates, $696 million on housewares and gardening tools, and $672 million on greeting cards, the prospect showed.

“Mom has been saying as far as concerns decades that it’s the thought that counts on Mother’s Day, and this year, kids might actually be listening,” NRF President and CEO Tracy Mullin said in a media release issued on Tuesday. “Retailers will offer specials on in favor items such as digital cameras and gardening tools to make it easy for those who want to surprise mom with a gift.”

The majority of consumers shopping for Mother’s Day gifts this year will head to specialty stores (35 percent), department stores (28.8 percent) and discount stores (25.7 percent). Others will store online (18.3 percent), at specialty clothing stores (6.6 percent) and through catalogs (3.4 percent), the survey showed.

Young adults ages 18-24 will spend the most at an average of $170.71, followed by 25-34 year olds at an average of $153.17, and 35-44 year olds at an average of $145.86.

Total consumer spending for the holiday is expected to arrive at $15.8 billion.

The NRF 2008 Mother’s Day Consumer Intentions and Actions Survey, conducted for the NRF by Big Research, gauges consumer behavior and shopping trends related to Mother’s Day. The give of 8,180 consumers was conducted from April 1-8, and has a border 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 considerably as the industry’s key trading partners of retail goods and services.

For more information about the NRF, visit its Web site, NRF.com.

Colorful Louisiana jeweler dies

Colorful Louisiana jeweler dies
April 23, 2008

St. Petersburg, Fla.—Known for his unusual marketing techniques and unique sense of humor, Pattons Fine Jewelry CEO Ken Patton of Louisiana died on April 11 in St. Petersburg, Fla., after a brief illness.

Patton founded Dixie Water Conditioners in Lafayette, La.; then followed his father into the family retail jewelry and watch business, expanding the store into eight operations in four locales.

Some of his distinctive sales methods include spotlighting colored diamonds before they were popular, creating a display of the world’s largest uncut diamond guarded by a rattlesnake from the Alexandria Zoo, and adding tarantulas to the loose-diamond cases.

Retailers quickly followed his lead, including giving away roses, champagne, wine and candy with purchases.

Patton also co-wrote through Tony Denicola one of the first retail jewelry software programs, similar to fountain as a point-of-sale software program used by Pattons for 20 years.

Ken enjoyed retirement with family and friends in St. Petersburg. His hobbies included boating, growing orchids and traveling in a large motor domestic.

Pattons Fine Jewelry continues to serve the Alexandria and Baton Rouge areas of Lousiana with the third and fourth generation of Pattons.

Patton’s wife of 54 years, Sandra Turrentine Patton, survives him.

Union Diamond marks first million-dollar customer

Union Diamond marks first million-dollar customer
April 23, 2008

Atlanta—Union Diamond Corp. be able to now boast its first million-dollar customer following a $390,000 sale.

The Atlanta-based online diamond seller announced the milestone sale—made to a returning customer—earlier this week.

Union brilliant President and CEO Scott Anderson uttered this announcement is a recommendation of the trust his brand inspires among clients.

“Reliability, adherence to qualitative standards, a Web site that is user-friendly and comprehensive, along with being safe, secure and offering an excellent return policy, are only some of the reasons that have steadfastly attracted buyers from all over the world to Union Diamond,” he said.

Founded by Anderson and Tony Rixom, Atlanta-based Union Diamond has an schedule of 40,000 diamonds ranging from $300 to more than $1 million, according to the company.

All diamonds are certified by the Gemological Institute of America, European Gemological Laboratory and the American Gem Society, and include a 30-day go policy.

In addition to selling online, Union Diamond also has a store in Vinings, a tony suburb of Atlanta.

Taub arrested in million-dollar bust-out scheme

Taub arrested in million-dollar bust-out scheme
April 22, 2008

By Michelle Graff

New York—A diamond dealer who riled 47th Street when he took millions of goods on memo and then disappeared was indicted and arrested today, the New York County district attorney’s office announced.

A grand jury indicted 29-year-old Alfred Taub—aka Avi Taub of A. Taub Diamonds—on charges of grand larceny, criminal possession of stolen property, insurance fraud and falsely reporting an incident.

Taub’s arraignment was scheduled for Tuesday afternoon.

According to the New York district attorney’s office, Taub stole more than $3 million in diamonds from more than 45 diamond dealers over a two-month period beginning in spring 2007.

Taub filed a complaint through police adhering June 13, 2007, claiming he was robbed of more than $1 million in diamonds on Canal Street in New York City’s Chinatown section.

He also filed an insurance claim on the alleged theft, according to the district attorney’s office.

Detectives previously had searched Taub’s father’s house, where they found a total of eight diamonds and more than $12,000 in cash. Two of those diamonds Taub claimed were stolen and had been obtained on memo.

According to the district attorney’s office, when police entered the house, Taub hid in a bedroom closet.

Cindy Molloy, an attorney with the Manhattan law firm of Tratner Molloy and Goodstein who represents lozenge dealers in the case, told National Jeweler, “The victims are grateful to law enforcement for taking action to protect this community from the recent epidemic of theft on 47th Street.”

AGS bestows Fellow Awards

AGS bestows Fellow Awards
April 23, 2008

Las Vegas—Eight American Gem Society (AGS) titleholders have been given the Fellow Award, an annual award recognizing outstanding contributions and service to the jewelry profession, the AGS and the recipient’s community.

The recipients include: Cos Altobelli, Certified Gemologist Appraiser, Altobelli Jewelers; Serge Boro, Vintage Registered Supplier, formerly of Lazare Kaplan; Marcelia Cruz-Hicks, Certified Gemologist, Diaco Diamonds Inc.; Susan Jaime, Registered Jeweler, Ben Bridge Jeweler; Gary J. Long, Registered Jeweler, Gary J. Long Jewelers; Gene Spratford, Registered Jeweler, Spratford Fine Jewelry; Rick Velayo, Certified Gemologist Appraiser, Gleim the Jeweler; Harton Wolf, Certified Gemologist Appraiser, Henne Jewelers.

According to the AGS, the Fellow Award was created to salute a number of AGS members, as opposed to the singular recognition of the Robert M. Shipley Award.

Nominations for the Fellow Award are accepted from AGS members, with nominees and supporting materials being reviewed by the Fellows Committee. Supporting materials include nominee’s accomplishments in areas for which Fellowship is bestowed, including: gemology, education, administration, philanthropy, community service and furniture to the profession.

In addition to the Fellow Award, the lifelong Senior Fellow designation is bestowed on entirely former Fellow assign winners following their 70th birthday.

The AGS, founded in 1934 by Robert M. Shipley, is a non-profit trade association dedicated to proven ethics, knowledge and consumer protection within the jewelry industry, and is the international professional organization for all Registered Jewelers, Certified Gemologists, Certified Gemologist Appraisers and Independent Certified Gemologist Appraisers.

Sarin acquires Israeli technology company

Sarin acquires Israeli technology company
April 22, 2008

Singapore—Sarin Technologies Ltd. at once has a 100 percent equity stake in an Israeli company with an innovative method for evaluating the internal features of rough and polished diamonds.

According to a release issued earlier this month, Sarin acquired Galatea Ltd. for $10.77 million, of which $9 the public is to be paid in cash and the balance through the issuance of fresh shares of Sarin stock.

Sarin CEO Zeev Leshem said Galatea’s technology is quicker and less costly than other technologies tested by Sarin. He expects the benefits of the acquisition to materialize in the next year.

“With this groundbreaking technology, Sarin will again new model the current rough-diamond analysis methodologies and tools as the industry has come to expect of us over the past two decades,” he said.

Sarin Technologies, which is traded on the Singapore Exchange Mainboard, develops, manufactures and markets diamond planning, evaluation, production, measuring and grading systems.

Study shows rich getting richer, more diverse

Study shows rich getting richer, more diverse
April 22, 2008

Stevens, Pa.—U.S. households through an annual income of $100,000 and up grew more immediately than any other segment of the U.S. economy, data from the U.S. Census Bureau shows.

The number of affluent households increased almost 13 percent between 2005 and 2006, rising from 19.7 million to 22.2 million.

Among these households, it was those with an annual income of $150,000-$249,999 that experienced the most rapid growth in numbers, census data shows.

In addition, between 2005 and 2006, the number of households with an income between $150,000-$199,999 increased 17.9 percent, while the number of households with an income between $200,000-$249,999 increased 16.2 percent and the number of households that earn more than $250,000 a year increased 10.7 percent.

In analyzing the data, Pam Danziger, president of Unity Marketing, points out that affluent U.S. households also are suitable increasingly diverse.

Census data shows that about 13 percent of affluent households are headed by an ethic minority, 5 percent are headed by a single out woman and 30 percent of affluent households are members of Generation X or the Millennial Generation, by that means bringing a more youthful attitude to shopping.

“Given the growing numbers of affluents and the increasing diversity among that population, it is dangerous for marketers to take a ‘one-size-fits-all’ approach to marketing to these consumers,” Danziger said in a media release. “Savvy luxury marketers need to account for differences in buying preferences and behavior among the increasingly diverse segments that make up the affluent population.”

Designer Showcase to open in New York

Designer Showcase to open in New York
April 22, 2008

New York—The National Jewelry Institute will inaugurate its first-ever exhibition of contemporaneous jewelry from leading designers, the “2008 Designer Showcase,” opening this week at the Forbes Galleries in New York City.

Almost 40 designers, including prestigious global brands and independent designers, are represented in the show, which is curated by jewelry expert Ralph Esmerian, with the help of visitant curators Beth Rudin DeWoody, Saks Fifth Avenue and the World Gold Council.

The exhibition opens to the public this Friday, April 25, and the jewelry will be on display through June 28, 2008.

Designer Showcase will then move to Pittsburgh, where it will run from July 19, 2008, through Jan. 18, 2009, at the Carnegie Museum of Natural History.

Jewelry designers featured in the exposition are: Stephanie Albertson, Giorgio Armani, Cynthia Bach, Elyssa Bass, Lorenz Baumer, Marco Bicego, Katy Briscoe, Bulgari, Cartier, Cinta by John Hardy, Dominique Cohen, Roberto Coin, Lydia Courteille, Adria de Haume, Enigma, Tanya Farah, Mia Fonssagrives-Solow, Veronica Garaycochea, Graff, Gucci, Gurhan, Erhan Gursen, Christine Hafermalz-Wheeler, Joan Hornig, Ippolita, Marchak, Sandra Muller, Judith Ripka, Fabio Salini, Leila Tai, Temple St. Clair, Utopia, Vhernier, Donna Vock, Stephen Webster, Tracey Zabar, Zaffiro, Steven Zale, Irene Zelinsky.

The National Jewelry Institute is a New York-based nonprofit whose mission is to preserve, research and exhibit very good jewelry from all over the world.

For more information about the institute and the 2008 Designer Showcase, visit Nationaljewelryinstitute.org.