June 2008
Bidz.com sees strong international growth
Bidz.com sees strong international growth
Online jewelry auctioneer plans additional site translations
June 27, 2008
Culver City, Calif.—Online jewelry auctioneer Bidz.com announced today that growth from sales utmost of the United States continues to be strong, with international sales expected to be up more than 50 percent from the second lodge of financial 2007.
The company said it is seeing encouraging results from the newly launched Spanish-language version of its site, with Chile, Columbia, Mexico and Spain among the top 10 countries for visitors in June.
“The Spanish translation of our Web site is yielding the desired results, and we are encouraged that future translations into foreign languages will be equally successful,” Bidz.com Chief Executive Officer David Zinberg said in a media release issued today. “We believe our jewelry offering at set a value on prices and in a fun and exciting format is attractive to consumers all very the world and we look forward to tapping into new markets.”
An Arabic translation of the jewelry site is in progress and scheduled to be launched during the third quarter.
Bidz.com is also reaffirming its previous guidance for the second quarter with revenues in the range of $48 million-$50 million, and for the full fiscal year 2008 with revenues in the range of $225 million-$230 million.
Celebrity Solstice to set sail with new diamond cut
Celebrity Solstice to set sail with new diamond cut
June 26, 2008
Bristol, England—Celebrity Cruises’ new Celebrity Solstice ship will make her sailing debut on the Caribbean cruise circuit in December, and guests will have a chance to remember the experience by taking home a diamond cut in the ship’s name.
The “Solstice Cut” is a patented cut created by dint of. Harding Bros., a company that will operate 600 square meters of deal out in small portions short time aboard the ship.
The diamond will be exclusive to guests on the ship and all subsequent Solstice Class vessels. It will be available in various sizes and set in different styles, such as pendants, rings and earrings, with pieces retailing from about $2,000.
Harding Bros. said in a media release that the Celebrity Solstice will subsist Celebrity Cruises’ largest liner by far, with a passenger capacity of nearly 3,000. Among the highlights will be a spa, upscale retail and dining facilities, and the half-acre “Lawn Club,” one area that features actual grass and has a patio, putting green, glassblowing studio and bocce courts.
“Such innovation in terms of the cruise offer demanded something equally innovative in terms of the onboard retail experience—and the Solstice Diamond is the ultimate in creating a bespoke offer,” Harding Bros. Managing Director Harold Gittelmon said in the media release. “It has taken 30 years to create this cut of diamond and so guests onboard are being offered something truly very special.”
Zales adds fashionable element to Web site
Zales adds fashionable element to Web station
New monthly item highlights latest jewelry trends
June 26, 2008
Irving, Texas—Chain retailer Zales Jewelers has introduced a trendy commencing feature to its Web site, Zales.com.
“Z trends” is a column that will focus on the season’s hottest looks from the runway to the red carpet, and provide site visitors through up-to-the-minute news and knowledge about the vast selection of fine jewelry and accessories available on the Web site.
The line will be updated monthly, and all the merchandise featured will be available on Zales.com. FedEx shipping is free on orders of more than $149.
The Z trends column launched this week with a focus on the latest trends in pearl jewelry. The column highlights pearl jewelry, as thoroughly as color trends in pearls, including chocolate brown, khaki and pink.
“The Z trends feature is a great new resource for busy consumers who want to keep up with the latest styles and trends in fine jewelry,” said Steve Larkin, senior vice president of marketing at Irving, Texas-based Zale Corp.
Zale Corp. operates Zales.com through its ZLCDirect organization, and also has about 2,150 retail locations in the United States, Canada and Puerto Rico.
The company’s brands include Zales Jewelers, Zales Outlet, Gordon’s Jewelers, Peoples Jewelers, Mappins Jewelers and Piercing Pagoda.
House of Taylor shutting down
House of Taylor shutting downward
June 25, 2008
By Michelle Graff
West Hollywood, Calif.—California-based jewelry crew House of Taylor Inc. is closing up shop, a filing on Wednesday through the Securities and Exchange Commission (SEC) shows.
Acknowledging that it is more than $11 million in debt to New Stream Secured Capital LP and “does not have sufficient moving capital to continue its business,” House of Taylor granted possession of its collateral to New Stream, the SEC filing shows.
“[House of Taylor] hereby surrenders, delivers and grants to lender peaceful possession of the collateral wherever located, and the products and proceeds thereof,” the 8K filing states.
The SEC filing goes forward to state that House of Taylor “knowingly waives any rights…to notice and a hearing before any court of competent jurisdiction and consents to lender’s possession, sale, transfer, license or other disposition of or realization on the collateral.”
The end of House of Taylor does not come as a surprise following a week in which it missing the licenses to both its branded lines—Dame Elizabeth Taylor- and Kathy Ireland-branded jewelry—lost its chief executive officer because it couldn’t pay his salary and lost its name, literally.
In a filing with the SEC upon the body Tuesday, the company that brings actress Elizabeth Taylor’s jewelry line to mart, Interplanet Productions Ltd., terminated its licensing agreement with House of Taylor, meaning the company lost both the right to sell Taylor-branded jewelry and the Taylor name.
Ireland’s company, Sandbox trinkets LLC, filed a similar termination notice the same day.
Both companies cited House of Taylor’s fiscal problems as the reason for the effect.
Royal Asscher says no ties to Fabrikant
Royal Asscher says no ties to Fabrikant
June 25, 2008
New York—A late lawsuit alleging that the former owners of M. Fabrikant and Sons diverted finances to their affiliates judgment filing for Chapter 11 bankruptcy protection, has prompted Netherlands-based Royal Asscher Diamond Co. to issue a statement stating it has no ties to the bankrupt company or its still-operating affiliates.
Court papers cited RA Cut LLC as one of the Fabrikant affiliate companies through which the Fortgang family, former owners of Fabrikant, diverted finances. In the court documents, the business is also alternatively referred to as “Royal Asscher Cut LLC” or “Royal Asscher,” but the Dutch company’s U.S. distributor says its name should not have been used in the court documents and it no longer has ties to M. Fabrikant or its ex-owners, the Fortgang family.
“In 2001, Royal Asscher Diamond Co. entered into a distributorship agreement with M. Fabrikant and Sons, whereby the company was responsible because of the marketing and sale of our branded diamond cut the Royal Asscher Cut,” Royal Asscher of America Inc. President Lita Asscher said in a statement issued on Tuesday. “Thus, Royal Asscher Cut LLC was established as a Fortgang entity, it was owned by Matthew and Susan Fortgang’s private trusts and it was without the knowledge of Royal Asscher Diamond Co. or my family in Amsterdam. On request of the lawyers of Royal Asscher Diamond Co., the Fortgangs changed the name of that company to RA Cut LLC in 2007.”
After M. Fabrikant dissolved, the distributor agreement was over, Asscher added. Royal Asscher of America was created as the only distributor of the Royal Asscher Cut in the USA and Canada.
“In the event of an agreement termination, M. Fabrikant and Sons were clearly precluded from using our good name, a name that has been built over 150 years, in the diamond industry,” Asscher said in the statement. “The agreement did not grant any rights to M. Fabrikant and Sons in our entities or possessions other than as a distributor. As per the terms of this agreement, Royal Asscher was not granted any rights in Fabrikant/Fortgang assets.”
The statement added that the Fortgangs have no interest in any of Royal Asscher Diamonds’s entities, nor are any of its entities in possession of any assets of Fabrikant or of the Fortgang families.
“Royal Asscher is a company that prides itself on ethics and integrity,” the statement said. “People who deal with us regularly are persuaded of this, but it is important that we make a statement to protect our brand and reputation.”