May 2008

Israel putting on full-court press at JCK

Israel putting on full-court press at JCK
May 13, 2008

Ramat Gan, Israel—A total of 62 Israeli companies are slated to attend JCK Las Vegas, according to a release from the Israel crystallized carbon Institute (IDI).

The discover, scheduled notwithstanding May 30-June 3, is one of the most important events for the Israeli diamond assiduity, given that the United States accounts for more than 50 percent of the country’s polished-diamond exports.

According to the release, polished exports to the United States amounted to $3.7 billion of the country’s total of $7.1 billion in 2007.

The IDI group of companies will multitude an Israel Diamond Pavilion at the show, which will include 38 Israeli manufacturers and exporters.

IDI Group Chairman Moti Ganz said given the economic situation in the United States, Israeli companies are doing all they can to adapt to the changing needs of the U.S. market.

“The Israeli industry is known for its flexibility and adaptability,” he said. “These traits have always brought excellent results and we are that certain they will continue to do so. We’re looking forward to a good elucidate.”

IDI Group Managing Director Eli Avidar said that although the IDI is developing new markets in India and China, it is certainly not ignoring the United States.

“The U.S. is our major market, and we have extremely close ties there,” he said. “In 2008, we hope to expand these ties and develop new ones. Our office in New York, IDI—USA, will be working hard on new segments of the market, especially those outside the major cities.”

In addition, the IDI is enhancing its Web presence and upgrading its toil portal into a business-to-business marketplace where actual transactions can take place.

The IDI group of companies will be at consist 50118 on Level One of International Drive within the Israel Diamond Pavilion and in its upper-level image booth at 5049, adjacent to Diamond Avenue.

Study: Luxury consumers cut lavish spending

Study: treat consumers cut lavish spending
May 12, 2008
_{rich spent 10.8 percent less on jewelry in 2007}

Stevens, Pa.—The luxury market boomed in 2006, with the 22 leading global luxury companies reporting an industry-wide revenue become greater of 10.2 percent compared with 2005, the latest report from Unity Marketing says.

According to the report, titled Luxury Report 2008: The Ultimate Guide to the Luxury Consumer Market, Giorgio Armani and IT Holding/Ittierre topped the list of the fastest-growing luxury companies in 2006, both with revenues up more than 30 percent. Coach, LVMH and Swatch followed suit, posting revenue gains or more than 20 percent.

Yet, when these luxury companies total their 2007 revenues and earnings, the results will be much more modest due to a 4.4 percent drop in average luxury consumer spending last year, Unity says.

“Affluent Americans backed off markedly in their pursuit of the luxury lifestyle, most notably in the second half of 2007,” Unity Marketing President Pam Danziger said in a media release issued on Monday. “Going into 2008, their spending continues to be weak. This will place tremendous competitive pressure on luxury companies and retailers, as they face a newly resistant affluent consumer by a mindset to hold onto their cash, rather than spend it.”

Key findings from the report include:

—Typical luxury consumers divide their personal-luxury spending by 12 percent in 2007, but increased their spending upon the body experiences by 5.2 percent.

—Spending was down across all income segments in 2007, including among near-affluents ($75,000-$99,999), affluents ($100,000-$149,999) and super-affluents ($150,000 and above).

—Luxury consumers were willing to spend more on certain luxury categories in 2007, including art, antiques, bath products, building products and kitchen appliances. In personal luxuries, consumers spent more on beauty products, cosmetics, fragrances, fashion accessories (shoes, not handbags) and watches.

—animalism consumers on average spent 10.8 percent less in succession jewelry in 2007, deviation from the way greater amount of toward sterling silver and semiprecious stones instead of gold and precious stones. Jewelry shoppers also trended away from specialty jewelry stores and more toward the Internet and other direct-to-consumer channels where prices are more competitive.

—Most of the more than 35 designer labels included in the report showed a decline in purchase levels in 2007, indicating a downward trend in buying specific designer fashion brands.

—Rampant materialism is on the decline as measured in this attitude statement, “While luxury experiences are scrupulous, they are fleeting, so I prefer to buy epicurism items I can keep and cherish.” In 2003, nearly two-thirds of luxury consumers agreed with that statement. In 2007, only 41 percent of luxury consumers agreed, a drop of 22 percent.

Unity Marketing’s Luxury Report 2008 examines consumers’ buying behavior and spending details on 22 luxury product and services, including where products were purchased and details of the types of products and services bought. It reports the results of a three-year longitudinal research survey of the luxury market conducted every three months. The results of the four 2007 surveys are compiled through those from 2005 and 2006 to provide vital trend analysis.

In 2007, a total of 4,284 luxury consumers were surveyed, 64 percent female and 36 percent male, with an average income of $155,100 and an average age of 45.2 years.

Memoire to distribute Dimexon Eurostar

Memoire to distribute Dimexon Eurostar
May 12, 2008

New York—Dimexon Eurostar Jewelry and Memoire have signed an exclusive agreement by which Memoire will be the sole North American distributor of jewelry designed and manufactured by Dimexon Eurostar.

Dimexon Eurostar’s portfolio includes high-end, classic and fashion-forward diamond jewelry crafted in gold and platinum. The company, lot of the Dimexon Group of companies, is headquartered in Hong Kong and currently serves leading retailers and jewelry manufacturers in the Hong Kong market, as well as in Belgium, India, Italy, the United Arab Emirates and the United States.

“Strategically, this partnership is important for the Dimexon Eurostar jewelry business as we build our global product and service offerings,” Dimexon Eurostar Chief Executive Officer Vishal Mehta said in a media release. “We are committed to becoming one of the leading providers of high-end jewelry products and services worldwide. Partnering with Memoire will help us achieve our ambitions more quickly in North America.”

Memoire, a company with a European heritage, has been manufacturing diamond jewelry in the United States for more than 20 years. Its jewelry is distributed through a select group of authorized retailers. According to the press release, Memoire decision market Dimexon Eurostar’s products under the new name of “Memoire Boutique.”

“Dimexon Eurostar trinkets offers an illiberal range of high-end jewelry products which meet the exacting quality standards for which Memoire is known in the market,” Memoire CEO Doug McDowell said in the release.

Memoire Boutique jewelry have a mind be on display at Memoire’s booth at the upcoming JCK Las Vegas show.

NRF: It’s gift cards, cash for grads

NRF: It’s gift cards, cash for grads
May 12, 2008

Washington, D.C.—Gift cards and cash remain the most popular graduation gifts, according to the National Retail Federation’s (NRF) 2008 Graduation Consumer Intentions and Actions Survey.

The survey, conducted for the NRF by Big Research, found that 56.8 percent of consumers polled with give cash to graduates this year, followed by gift cards (35.6 percent) and greeting cards (35.6 percent).

Meanwhile, traditional favorites such as electronics (11.6 percent) and apparel (10.8 percent) will not be as popular this year.

According to the survey, Americans will spend $4.4 billion on graduation gifts this year, with pressingly one-third purchasing at least one gift. The average consumer buying graduation gifts plans to give a gift to two graduates this year and will expend an average of $52.12 on each present.

“Graduation is a time for celebration, and there is no better way to wish graduates luck in the next chapter of their lives than by the agency of giving them a leg up financially,” NRF President and Chief Executive Officer Tracy Mullin said in a media release issued on Monday. “Cash or a gift card is the perfect gift for graduates who may be moving away from home, starting a new job or heading to college in a few months.”

Parents and other parents and children members will spend the most on graduation gifts this year, with consumers between the ages of 35-44 spending more than $106.79.

The NRF 2008 Graduation Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to graduation. The pay of 8,347 consumers was conducted from April 29-May 7, 2008, and has a margin of error of plus or minus 1 percent.

Prices rising at World Jewelry Center

Prices rising at World Jewelry Center
May 12, 2008

Digging in for the time of the World Jewelry Center’s Union Park groundbreaking event on April 24 were, from left, Rita Brandin, senior vp and development director for Newland Communities, Las Vegas Mayor Oscar B. Goodman and Las Vegas Ward 5 Councilman Ricki Y. Barlow.

Las Vegas—The price of office space at the much-talked-about World Jewelry Center (WJC) will increase following the 2008 JCK Las Vegas show, according to a news release.

The news release states that the new “pricing structure—including increases” for the Las Vegas trade tower will be effective beginning June 3. Prices will vary according to floor locating and views.

“We have entered a new phase in the marketing of the World Jewelry Center,” WJC Managing Director Bill Boyajian said in the release. “Having secured letters of intent from nearly 130 firms representing some 20 countries on four continents, the demand for the limited available office space has dictated a price become greater. However, we will continue to honor the pricing that has been quoted to date, through the end of the JCK show.”

The WJC features include: no Nevada corporate or personal income tax, a designated Foreign Trade Zone, whole ownership of showroom offices, manufacturing facilities and a marketplace.

Prior to the price increase announcement forward May 9, WJC officials joined Las Vegas Mayor Oscar B. Goodman and other dignitaries for the April 24 groundbreaking ceremony for Union Park, future domestic of the WJC.

The event marked the beginning of construction on the 11-million-square-foot, mixed-use, master-planned community.

Robert Zarnegin, WJC principal and president and CEO of Probity International Corp., and Boyajian led the WJC contingent.

Zarnegin told attendees they were “thrilled” to corroboration the groundbreaking for Union Park, and the subsequent construction of streets and sidewalks.

“These are very important steps before the invent of construction on the World Jewelry Center,” he said.

For more information about the WJC, or to reserve space, call (310) 888-8864, e-mail info@worldjewelrycenter.com or visit the WJC’s Web site, Worldjewelrycenter.com.

GIA shares history in new exhibit

GIA shares narrative in new exhibit
May 12, 2008
_{‘Facets of GIA’ to spotlight simple fancy-colored diamonds}

The “Aurora Butterfly of Peace” includes 240 stones (total carat weight of 166.94 carats) that show nearly the full spectrum of color and cut styles available in natural fancy-colored diamonds.

Carlsbad, Calif.—The “Aurora Butterfly of Peace,” a collection of 240 natural fancy-colored diamonds shaped into the form of a butterfly, will be unveiled at the Gemological Institute of America’s (GIA) opening night celebration for its new “Facets of GIA” exhibit.

Visitors to the exhibit, which will launch on May 14, will find not only the Aurora Butterfly, but many other examples of magnificent gems and jewelry, including rare gem crystals in their natural states, divide and polished gems, and finished jewelry, such as a Cartier diamond necklace from 1930. Visitors will also have existence treated to a showcase of the GIA’s history, as well as highlights of its services, ranging from education to laboratory work to public outreach.

On opening night, John King, technical director of the GIA New York Laboratory and a leading adroit on colored diamonds, will give a presentation on the phenomenon of natural fancy-colored diamonds and the public’s continued fascination with these gemstones.

In addition, Alan Bronstein, the owner and curator of the Aurora Butterfly, will have existence on hand to help describe the fragment. In a media release, Bronstein before-mentioned that the form of the butterfly represents universal peace and harmony among all men, religions and races.

The Aurora Butterfly of Peace will be on view to the public from May 15 through July 30. The Facets of GIA exhibit will be open May 15 through April 30, 2010, through related displays and exhibits rotating throughout the GIA Museum.

Exhibit viewings are free and are available to the public through scheduled tours. To sign up for a tour, call (800) 421-7250 ext. 4116 or e-mail guestservicesmailbox@gia.edu. For more information, visit the GIA’s Web site, GIA.edu.