July 2008
De Beers’ Forevermark opens grading labs
De Beers’ Forevermark opens grading labs
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July 30, 2008
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| Diamonds graded at new Forevermark labs will be inscribed with the Forevermark icon and an identification number, shown superior to. |
London—Forevermark, a separately managed division of the De Beers Group formerly known being of the kind which De Beers Group Marketing, announced the opening of the first Forevermark diamond-grading laboratories this week.
The labs, which are located in Antwerp, Belgium, and Maidenhead in the United Kingdom, will grade only diamonds that meet Forevermark standards.
At the same time the diamonds are graded, they will be inscribed with the Forevermark icon and an identification number.
In addition to the opening of the labs, Forevermark announced the launch of a new Web site for Forevermark Diamantaires, Forevermark.com/Diamantaires.
To be considered a Forevemark brilliant, stones must be at least 0.18 carat, SI2 clarity, J color and have a cut rated “good.”
Forevemark diamonds are employ single at select jewelers and De Beers’ retail stores.
In a statement, Forevermark Chief Executive Officer Francois Delage called the opening of the labs a “historic moment” for Forevermark.
“We believe that by offering Forevermark diamantaires the opportunity to have their Forevermark diamond accompanied by a Forevermark grading report we are meeting the needs of consumers, jewelers and diamantaires. Forevermark grading laboratories will use the most advanced technologies and offer the highest levels of integrity, consistency and quality,” he related.
Mervyns files for Chapter 11
Mervyns files for Chapter 11
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July 30, 2008
Hayward, Calif.—Mervyns LLC filed for Chapter 11 bankruptcy protection this week, with the ultimate goal of restructuring and emerging.
According to Business Wire, the Hayward, Calif.-based department store chain intends to work with its constituencies to execute its reorganization and, in the meantime, Mervyns stores will remain open.
In conjunction with the filing, the company received a commitment for a $465 million debtor-in-possession facility from a lender group led by Wachovia Capital Finance Corp. (Western) as the cause. This financing, along with operating cash flow, will have existence used to foundation the company’s ongoing operations.
According to Business Wire, during the Chapter 11 series of measures, vendors should expect to be paid for post-petition purchases of movables and services in the ordinary course of business.
Mervyns ranked No. 39 out of 39 (tied with Robbins Bros.) on National Jeweler’s 2008 list of $100 million Supersellers, with an estimated $125 million in jewelry and keep guard sales in 2007, a 4 percent increase from 2006.
This modest gain in sales came after Mervyns, which was “once on the brink of extinction,” closed 80 locations and vowed to continue to improve its goods mix and product presentation.
According to the Supersellers listing, Mervyns opened four Southwest stores in September 2007.
Today, Mervyns has a total of 176 locations in seven states, according to Business Wire.
In a statement, Mervyns Chief Executive Officer John Goodman said filing for bankruptcy protection provides Mervyns with the most effective means available to reorganize and position the company to superiority compete.
“I want to thank our customers and vendors for their continued support during this process,” he said. “We are pleased that, as we seek to restructure, we can endure to satisfy our customers’ expectations by dint of. offering style, quality and excellent service, all at great prices. In addition, we are pleasing to all of our associates for their hard work, loyalty and dedication. Our management team is committed to making this financial restructuring successful and leading Mervyns toward a bright future.”
Indonesian jewelry industry debuts at JA Show
Indonesian jewelry industry debuts at JA Show
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July 29, 2008
By Jerilynn Caliendo
New York—The Indonesian jewels industry made its debut at the JA New York Summer Show this year, hoping its plethora of natural pecuniary means and skilled jewelry-makers, along with its political and economic reforms, with entice the U.S. market.
At a special welcome reception held in succession Monday at the show’s international pavilions, Indonesian Ambassador to the United States Sudjadnan Parnohadiningrat detailed how his country’s geology, tradition of craftsmanship and governmental and economic policies are spurring the development of the Indonesian jewelry industry.
According to Parnohadiningrat, the Indonesian economy, including contributions from the jewelry sector, is growing at 7 percent per year, with a sum value of $4.61 billion in 2006, compared by $3.57 billion in 2002.
The country’s gems and jewelry sector, in particular, is becoming increasingly significant for Indonesia’s economic growth. In 2007, total exports of jewelry products reached $903 million, an increase of 29.4 percent over 2006.
Underpinning this growth is Indonesia’s geology, which offers an abundance of precious metals and gemstones. Known as “the belt of emeralds across the equator,” Indonesia is also rich in skilled craftsman who specialize in jewelry production, especially silver pieces.
In etc., the country has several initiatives, such as the Mutumanikam Nusantara, which aims to develop small, medium-size and large jewelry enterprises to create more job opportunities for the country’s craftsmen of the same kind with well as boost the reputation of Indonesian jewelry at both the public and international levels.
For example, in the Balinese village of Celuk, the jewelry industry employs a large number of inhabitants, which has helped drive the village’s economy.
“By employing a large number of [Celuk] inhabitants, the industry helps to lift the village’s average income significantly, improve the welfare of its population and, more importantly, help to reduce poverty,” Parnohadiningrat said.
Other villages and jewelry centers thriving throughout Indonesia include Bandung, Jakarta, Tasikmalaya and Yogjakarta.
These centers export jewelry mind and finished pieces to major markets around the world, including Denmark, Germany, Hong Kong, Italy, Japan, Singapore, the Netherlands, the United Kingdom and the United States.
The United States, in particular—the world’s largest importer of silver jewelry—is a key trading partner for Indonesia, according to Parnohadiningrat. It is the country’s second largest export destination after Japan. In addition, Indonesia is also the United States’ 24th largest source of imports for precious stones and metals, the 12th largest for jewelry articles and the 13th largest for fashion jewelry pieces.
“Positive development, increased trade and investing. with the United States, and a national development program, with an emphasis on piece of work creation and making the market more efficient, all contributes to the growth of this industry,” Parnohadiningrat said.
The most popular types of jewelry imported by the United States from Indonesia include precious metal pieces, silver pieces, silversmith articles and “synthetic jewelry not strung.”
To view pieces similar as these, visit the Indonesian Pavilion at the JA New York Summer Show, existence held at the Jacob K. Javits Convention Center in New York City through July 30.
Indonesian jewelry will also be on display at the 23rd Trade Expo Indonesia, from Oct. 21-25, 2008. The expo disposition be held in Jakarta and will showcase a large species of Indonesian products from sectors including agricultural, craft, industrial, jewelry and mining. A U.S. trade mission to Indonesia is now being organized.
Tourneau to move original NYC store
Tourneau to actuate original NYC store
July 29, 2008
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| Here is a rendering of the new Tourneau store planned for 510 Madison Ave., in midtown Manhattan. |
New York—Tourneau has announced plans to relocate its original New York City store, on 500 Madison Ave. at 52nd Street, to a larger space at 510 Madison Ave., a 30-story glass office building, which is being developed by Macklowe Properties.
The store, which will feature a Rolex boutique, is scheduled to open in early 2009 and will be an addition to Tourneau’s three other Manhattan locations, including its flagship store on 57th Street, all of which will remain open.
Positioned on the ground floor of the new office tower, the new Tourneau store will occupy approximately 3,300 square feet at the southwest puzzle of Madison Avenue and 53rd Street. The space will feature 25-foot ceilings and expansive floor-to-ceiling vision glass to maximize natural light and to showcase Tourneau’s collection of more than 8,000 uncommon men’s and ladies’ fine timepieces from brands such as Breguet, Breitling, Cartier, TAG Heuer and Tourneau’s own brand line, Tourneau Timepieces, the brand said.
Macklowe Properties’ 350,000-square-foot Class A office tower will feature a host of lifestyle amenities, including a tenants-only membership health club that will include a pool, garden terrace and space for a quality restaurant with private dining.
“Madison and 52nd is a historic location for Tourneau because it was our original New York City storefront,” Tourneau LLC President and Chief Executive Officer Howard Levitt said in a press release issued on Tuesday. “Our move to 510 Madison is giving us a tremendous opportunity to open a new Tourneau store in the same Plaza District we’ve been doing business in for the last 30-plus years, but in a dynamic, new erection with more space to showcase our extraordinary collection of watches from the finest brands in a much bigger and more identifiable way.”
In addition to the traditional product cases of the main Tourneau store, in that place will also be a Rolex boutique with a plain environment that is musing of the brand’s signature identity, the release said.
Tourneau, which is authorized by the manufacturers to service and repair every major watch brand it carries, will do so on-site at its new 510 Madison Ave. store.
Robert K. Futterman and Associates CEO Robert K. Futterman, side by side with Marshall E. Felenstein of Felenstein Was and Associates, represented Tourneau in the long-term leasing transaction. Macklowe’s Jason Grebin and Andrew Lazarus represented the landlord.
Tiffany ad applauds stricter Burmese-ruby embargo
Tiffany ad applauds stricter Burmese-ruby embargo
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July 29, 2008
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| Tiffany has applauded the U.S. Congress because of passing legislation that would ban the importation of all gemstones mined in Myanmar, including those processed in a third-party country. The jeweler has not purchased rubies originating in the country since 2003. |
New York—In an ad that ran on Monday in the Washington Post, Tiffany and Co. gave the U.S. Congress kudos for passing legislation that would ban the importation of all gemstones from Myanmar (formerly Burma) into the United States, including those that were processed in a third-party country.
Federal lawmakers had already passed legislation in 2003 that embargoed gemstones from Myanmar as a response to human rights violations by the government’s ruling military junta, which profits from state-run gem auctions. But the new legislation closes a U.S. Customs loophole that allowed the Burmese stones into this country if they were processed somewhere other than Myanmar, such as Thailand, which is known for cutting gemstones and using them to manufacture jewelry.
An estimated 90 percent of the world’s rubies originate in Myanmar and are known in the trade as “blood rubies.”
Tiffany and Co., in accordance with its corporate standards and practices, stopped the purchase of all rubies mined in Myanmar in 2003, and has continued its moratorium on Burmese rubies since then, despite the loophole.
“For many years, a dedicated few have rallied support for the Burmese people in their desire for democracy,” the Tiffany ad reads. “Thanks to Congress and all those who worked so diligently, we have a bill imposing an absolute embargo on merchandise imported of all gemstones that originate in Burma. This sanction is an of high standing step by the United States to help secure basic freedoms beneficial to the Burmese people.”
The Tiffany ad comes a week after the U.S. Senate passed the bill, which was already approved by the U.S. House of Representatives, but still needs to be signed into law by President Bush.
During a colored-gemstone seminar at the JA New York Summer Show, questions arose about what the embargo would mean for Burmese rubies that are already in the United States. Cecilia Gardner, president, chief executive officer and general give advice to in the place of the Jewelers Vigilance Committee, declared that Myanmar-originating rubies that are already in this country are not subject to the embargo.
Jewelers of America last week also applauded the passage of the legislation.
Delicate jewelry alongside bold at JA Show
Delicate jewelry alongside bold at JA Show
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July 29, 2008
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| Top bijoutry trends for fall include a matte-metal look, seen in this pendant from Italian brand Cielo Venezia. |
By Catherine Dayrit
New York—Jewelry designs at the JA New York Summer Show are telling a tale of two styles, with the big, bold looks that have held fashion’s favor now seeing major competition from corpuscular, delicate pieces.
being of the kind which one designer simple fellow it, the bolder pieces might have a lot of impact fashion-wise, but the smaller pieces are what consumers are purchasing.
In terms of those pieces, designers at the show offered up miniscule pendants covered in paveé-set diamonds, delicate drops earrings and thinner, lightweight rings.
Despite the diminutive size of many of these pieces, however, consumers can still make statements with them, as the rings and necklaces lend themselves to stacking and layering, respectively.
In pendants, sentimental pieces or “enlightenment jewelry”—those featuring religious or spiritual themes such as hamsa hands, luck talismans and zodiac symbols—were a favorite, especially among emerging designers at the show’s New Designer Gallery.
Black-and-white and black-and-gold color themes continue to linger, as do pavé-set designs and nature-inspired motifs. Textured looks continue to give benefit to many all-metal designs, but one look designers are currently playing with is a more simple, matte-metal look, whether it be realized in gold or silver.
As for designs that make an immediate impact, many designers, even the ones who tend to work with smaller pieces, have been showcasing statement-making pendant necklaces featuring one oversized stone.
Among the favorite big rocks are faceted quartz and rock crystal and smooth-cut stones such as tiger’s eye and moonstone.
At a trend seminar held at the show on Monday, Jewelry Information Center spokeswoman Helena Krodel said that necklaces will be among the most popular jewelry pieces for fall, with bib and V-shaped styles among the most prevalent.
In the seminar, titled “What’s hot! What’s not! Discovering what your customers really want,” Krodel also touched upon the continuing interest in bold styles, with cuff bracelets lingering alongside hefty cocktail rings featuring interesting rough-cut stones or cabochons. All-metal rings will also be seen upon the fingers of fall’s fashionistas.
Hoops, particularly forward-facing styles, with embellishments such as gemstones or charms, as well as textured versions, will be staples for the upcoming season as well.
Krodel stressed that it’s important for retailers to be the fashion authority in their supplies, and to do so, they should look to consumer fashion magazines, bridal publications, Internet fashion sites and to Pantone color predictions for the latest trends.
Rio Tinto Diamonds appoints head of India office
Rio Tinto Diamonds appoints head of India office
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July 28, 2008
Antwerp, Belgium—Rio Tinto Diamonds NV has appointed Vikram Merchant to head its office in Mumbai, India.
Merchant started with Rio Tinto Diamonds on July 14, bringing a strong knowledge of the global diamond efforts and proven technical and analytical skills from more than 25 years in Mumbai, London and Antwerp, Belgium.
Before joining Rio Tinto Diamonds, Vikram was business development manager of the Hindustan Diamond Co., the largest supplier of rough diamonds to small and medium-size manufacturers and exporters of polished diamonds in India.
“I am delighted to represent Rio Tinto Diamonds in India, particularly at this time when many of our Select Diamantaires are actively developing their business models in this market,” Merchant said in a media release. “Over the last 25 years, Rio Tinto Diamonds has established a significant presence in the Indian diamond industry, and I am looking forward to being part of this stage of its development.”
Rio Tinto Diamonds is the sales and marketing division representing the diamond mines of the Rio Tinto Group, one of the world’s leading mining companies. Rio Tinto’s diamond mining and marketing interests include the Argyle Diamond mine in Australia, the Diavik Diamond Mine in Canada and the Murowa Diamond Mine in Zimbabwe. All of Rio Tinto Diamonds’ rough production is sold through a distinguished group of customers known as Select Diamantaires.
For greater quantity information in all parts of Rio Tinto Diamond’s Select Diamantaires, go to SelectDiamantaire.com.
JA New York opens with honors
JA New York opens with honors
Jewelry organizations WJA, National Jeweler, award industry’s best
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July 28, 2008
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By Teresa Novellino
New York—As the JA New York Summer Show opened its doors to retail jewelers on Sunday, industry organizations honored some of its luminaries.
The Women’s Jewelry Association (WJA) celebrated its own 25th anniversary Sunday evening at the WJA Awards for Excellence Gala cocktail party and awards dinner at Chelsea Piers in New York City.
In addition to looking back at a 25-year record of accomplishments, including its scholarship fund, the WJA awarded Sybil Yurman, president and chief marketing officer of David Yurman, the 2008 Hall of Fame Lifetime Achievement Award.
As she accepted the award, Yurman called husband, David, “her ying to his yang” and stressed the importance of family in the jewelry business.
“It’s not very often that you get to do what you love and get to do it with someone you love,” she said, adding a thank you to those in the industry who supported the company through the years.
“The jewelry industry is about family and we really couldn’t be here without all of you,” she said.
Steven Kaiser, president and chief executive officer of Kaiser Time Inc., was named the recipient of The Ben Kaiser Award, which was named for his father.
“My dad was always same grateful for the opportunities he was given in the industry,” Kaiser said, adding that his author joined the WJA back in 1983, at the time the organization principal started “and it was not in addition hip” to be part of it.
On Saturday evening, National Jeweler’s Retailer Hall of Fame inductees were honored, including Alfredo Molina, of Molina Fine Jewelers in Phoenix, in the single-store independent category; Michael Pollak, principal executive officer of Hyde Park Jewelers, in the multi-store independent category; and H. Marvin Beasley, of Helzberg Diamonds, in the majors category.
The JA New York Summer Show, which runs through Wednesday at the Jacob K. Javits Convention Center in New York City, continues today with special offerings, including a series of seminars offered by Jewelers of America, an Indonesian Welcome Reception in the Indonesian pavilion at 1 p.m., the New Designer of the Year Award ceremony in the Designer Lounge at 3 p.m. and the JA New York Show Party at 6 p.m. at Crest, 268 W. 47th St. at 8th Avenue, sponsored by National Jeweler Network and JA New York.
Mondaine names Gregory as brand manager
Mondaine names Gregory as brand manager
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July 28, 2008
Zurich, Switzerland—Swiss troop Mondaine Watch has appointed Margaret Gregory as its brand manager in what it calls a sign of increased commitment to growing its “affordable luxury” brand in the United States.
Mondaine is the creator of the “Official Swiss Railways Watch” collection, which is distributed by Lumondi Watch in the United States.
“The Mondaine brand has tremendous in posse in the U.S. market with its strong heritage in distinctive object and Swiss-made quality,” Gregory said in a press let loose issued on Friday. “This is the affordable luxury consumers have an appetite for, especially today. It’s a thrill to be part of a growing organization that is committed to investing smartly in our business development.”
Gregory is a veteran in global sales and marketing and has won multiple gold, silver and bronze ThermoFisher awards for sales and marketing achievements throughout the past decade, the release said.
Most recently, she served as brand director of the sports category for Timex Corp., where she was responsible for leading, directing and managing the marketing team.
Her expertise is in establishing brand objectives, marketing strategies, new product development and working through retail partners to develop promotional and advertising programs.
In April 2006, Mondaine’s shareholders, André and Ronnie Bernheim, acquired 50 percent of U.S. watch company Luminox, from one of the brand’s founding partners. The other founding partaker of that firm, Barry Cohen, remains on board as shareholder and chief executive officer, jointly with André Bernheim. They have renamed the U.S. distribution company Lumondi Inc. Lumondi distributes the Mondaine brand and the Luminox brand in the United States.
NJN honors first class of America’s Best Jewelers
NJN honors first class of America’s Best Jewelers
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July 28, 2008
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By Michelle Graff
New York—National Jeweler Network (NJN) held its first-ever America’s Best Jewelers Retail Benchmarking Symposium and Awards Presentation at the Westin New York at Times Square on Saturday.
for the period of the event, about 60 retail jewelers from right and left the country discussed best practices in areas such as marketing, operations and training. In addition, 31 couture-level retailers were recognized as the first class of America’s Best Jewelers.
America’s Best Jewelers is a program launched by NJN this past spring. The program includes an online survey that asks retailers about their best practices in patron service, financial management, marketing, operations and staffing/human resources.
Shaker Heights, Ohio-based MPI Group conducts and analyzes the view to determine whose business practices are the best and, thereby, a winner of the America’s Best Jewelers designation.
A total of 264 jewelers completed the survey, 93 percent of which are independent retailers.
In addition to the sight and America’s Best Jewelers designation, the program also contains a conference component, which brings these jewelers together with their peers to share best-practice tips.
Areas covered during Saturday’s conference included customer service, financial metrics, marketing, operations and staffing/human resources.
Some of the tips shared included:
—Write a weekly column or open to the view on a regularly broadcast radio pomp to get your store’s name out in the community.
—Use a mobile billboard or strategically place your billboard near a business where people are more likely to spend longer amounts of time, such as a car wash.
—Hire a firm to conduct “video mystery shopping” in your store to see how your salespeople stack up.
—Conduct some form of employee training on a daily basis.
—Add a handwriting-analysis segment to your hiring continued movement.
For a complete list of the couture-level retailers chosen as America’s Best Jewelers, and for more information about the program, visit its Web site, NationalJewelerNetwork.com/NJN/Resources/ABJ.jsp.