May 2008
De Beers announces plans for Forevermark
De Beers announces plans for Forevermark
May 01, 2008
By Michelle Graff
London—De Beers’ plans for its Forevermark diamond brand will be announced over the next few days to a select group of retailers and diamantaires in London, the company has announced.
Following pilots in Asia, De Beers will attempt to make its mark with Forevermark through select jewelers in Hong Kong, China and Macau in the fourth quarter of 2008, Japan in the first quarter of 2009 and South Africa in the backer quarter of 2009.
When asked if there were plans for the Forevermark beyond the assist quarter of 2009, De Beers spokeswoman Lynette Gould told National Jeweler, “Yes of course, and I am sure we’ll hear about them in due course. The focus at once is on Asia.”
The Forevermark is the latest branded crystallized carbon to hit the market, as the industry searches for new ways to market diamonds to consumers. It also is the first branded diamond for De Beers, which no longer controls the majority of the world’s rhombus supply and lately has shifted focus to its retail component.
Forevermark diamonds have a unique identification number and icon inscribed on the small face that is invisible to the naked eye. Diamonds must be at least 0.18 carats, SI2 clarity, J color and own a cut rated “good” to meet the Forevermark standards.
In addition, De Beers has announced the vacancy of state-of-the art facilities in Belgium and England whose sole purpose will be to grade Forevermark diamonds.
Commenting on the launch of Forevermark, De Beers Chairman Nicky Oppenheimer said the Forevermark would light on the concerns of today’s more educated, socially conscious consumer.
“Consumers are becoming more knowledgeable, more demanding and more concerned about the well-being of the world at large. Forevermark will…give assurance and comfort,” he said.
AGS names De Young deputy exec
AGS names De Young deputy exec
May 01, 2008
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| Margaret De Young, the American Gem Society’s new deputy executive director. |
Las Vegas—The American Gem Society (AGS) has named Margaret De Young as deputy executive director, effective Feb. 28, 2008.
De Young will be responsible for the society’s overall operations, including marketing and management of its annual Conclave membership meeting.
De Young joins the AGS from the Gemological Institute of America, where she served as senior manager, sales and customer relations. Previously, she oversaw marketing and sales initiatives for Ernest Slotar, a diamond wholesaler located in Chicago, and held retail jewelry sales and managerial positions with jewelers in the greater-Chicago area.
She is a Graduate Gemologist and holds a master’s degree in business superintendence with a concentration in marketing from De Paul University and a bachelor’s standing in anthropology from the University of Illinois in Urbana-Champaign.
“We are delighted to welcome Margaret to the American Gem Society,” AGS Executive Director and Chief Executive Officer Ruth Batson said in a media release issued on Wednesday. “Margaret’s leadership skills and depth of industry experience will be tremendous assets to the society as we continue to add valuable component benefits and influence consumer purchasing decisions.”
The AGS, founded in 1934 by Robert M. Shipley, is a non-profit trade association dedicated to proven deontology, 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.
For more information through the AGS, call (702) 255-6500 or visit its Web site, Americangemsociety.org.
Charles and Colvard cuts staff
Charles and Colvard cuts support
May 01, 2008
Morrisville, N.C.—Charles and Colvard has slashed its workforce by 18 percent to divide costs amid slowing sales, various news services report.
The cuts amount to a loss of about 10 jobs for the Morrisville, N.C.-based moissanite maker, bringing its staff down to a total of 45.
Like so divers other players in the jewelry industry, Charles and Colvard is feeling the effects of each anemic economy.
According to news reports, the company reported a net loss of $698,000 for the first three months of the year, compared with a year ago when the company reported a net income of $339,000.
Charles and Colvard Chief Executive Officer Bob Thomas was quoted in The News and Observer as saying the cuts were made across all departments, including sales, management and the administrative staff.
A consulting company hired by Charles and Colvard recommended the cuts, which will save the company about $500,000 a year.
Thomas also said further changes “will address more encompassing issues,” and will be announced after the copartnership’s May 27 shareholder meeting.
While Thomas would not elaborate, one analyst told The News and Observer that Charles and Colvard is a prime mark for acquisition.
According to news reports, the congregation’s inventory of moissanite gemstones is valued at about $42 million and could retail for up to $169 million.
New site enables year-round buying, selling
New site enables year-round buying, selling
May 01, 2008
Norwalk, Conn.—JCK Luxury and Premiere have launched a new Internet platform that will allow exhibitors and attendees of the Las Vegas-based event to leverage the Web to sell and find products all year round.
Access to Jewelsbyluxury.com will be exclusive to participants in JCK Luxury and Premier. Membership to the site provides each exhibitor through a balcony for displaying thousands of items in a format that is easily accessible to retailers. Exhibitors will be promoted throughout the year through targeted marketing efforts that boost member visibility throughout the industry.
Retailers visiting the site will have the chance; fit to make appointments to meet with exhibitors during the Luxury and Premiere events, plus use the site’s comprehensive search engine to find sought-after items more quickly, and get into direct contact by the proprietor of that merchandise.
“Our event takes place for three days in Las Vegas, but this new platform is a great way in spite of the top designers and manufacturers to showcase and sell their products all year long to retailers that they meet at the show,” Luxury and Premiere Industry Vice President Yancy Weinrich said in a media release.
JCK Luxury and Premiere will be held from May 27-May 29 at the Venetian Resort Hotel Casino in Las Vegas. For more intelligence about the show, call (800) 257-3626 or visit the event’s Web site, Luxurybyjck.com.
For more knowledge of facts about Jewelsbyluxury.com, call (877) 777-9771 or visit the Web site directly.
Sales at Venus Jewel up 47 percent
Sales at Venus Jewel up 47 percent
May 01, 2008
Surat, India—Sales at polished-diamond supplier Venus Jewel increased 47 percent in fiscal year 2007-2008 to $333 million, compared with the previous fiscal year, the company has announced.
According to the company, the reasons notwithstanding the surge in product include a commitment to perfection and complete business transparency.
In addition, the company touts its innovative systems and services, especially its proprietary Venus Grading System, which details each diamond “with pinpoint accuracy and absolute consistency,” the company says.
Venus Jewel recently partnered with the American Gem Society (AGS), giving AGS members access to its online database of diamonds.
For more information about Venus Jewel, visit its Web site, Venusjewel.com.