See-Now, Buy-Now Shopping Trend

Fashion and jewelry houses are stunned by the latest shopping trend: See-now, Buy-Now. Consumers nowadays desire instant gratification and no longer wish to wait between seeing an outfit on the runway and being able to purchase the look. This trend is likely due to the increase in women who are buying jewelry and designer clothes for themselves. “They buy jewelry like they buy fashion, so are more spontaneous now,” said Nicolas Bos, chief executive of Van Cleef & Arpels.

JewelryRetail and Consumer Confidence

Signet Jewelers Seeks to Standardize Diamond Screening Machines

Signet Jewelers, as part of its effort to support and reinforce its Responsible Sourcing Protocol for Diamonds (D-SRSP), has been working on a project with product-testing firm United Laboratories and the Diamond Producers Association to create a facility for testing synthetic diamond screening equipment, writes Rapaport News.

PolishedTechnologyRetail and Consumer Confidence

The Neglected Demographic: the Midult

Every marketeer has spent countless hours strategizing on how to target millennials, which has led them to neglect an important audience: introducing the Midult. Paula De Luca, creative director of trend forecasting company Trendvision, defines the midult as a women between the ages of 35 and 55 who has spending power – in other words, a Generation X female, born between 1960 and 1980. Following millennials and baby boomers, Gen X is the third largest generation in America, making up 25% of the 60 million adults in the U.S. 

Retail and Consumer Confidence

Stéphane Fischler on Road Ahead for India’s Diamond Industry

Stéphane Fischler, President of the International Diamond Council, founding member of the European Council of Diamond Manufacturers, Vice President of the World Diamond Council and President of the Antwerp World Diamond Centre talks to Manisha Gupta on India's CNBC-TV18. He shared his view of the Indian diamond industry and the road ahead for its diamond market. An abbreviated version:

CNBC: How do you see diamond consumption growth in India?

Finance and TradeMarket AnalysisManufacturingRetail and Consumer Confidence

European Parliament Approves 'Conflict Minerals' Law for Importers

The European Parliament last week approved a draft regulation intended to prevent the minerals trade from funding conflict and human rights violations in Africa. If adopted, this “conflict minerals” law will oblige all but the smallest EU importers of tin, tungsten, tantalum, gold and their ores from conflict and high-risk areas to do "due diligence" checks on their suppliers, and big manufacturers will also have to disclose how they plan to monitor their sources to comply with the rules. Authorities in EU member states will be responsible for ensuring compliance by companies.

Retail and Consumer ConfidenceSustainabilityComplianceLegal

City of Antwerp, AWDC Introduce “Diamond Year” To Celebrate 570th Anniversary

The Antwerp diamond industry this year is celebrating its 570th anniversary. A document recently discovered in the City Archive identifies the first signs of a diamond trade in the city dating back to 1447.

EconomySustainabilityRetail and Consumer Confidence

Tiffany's Sees Global Net Sales Decline 3% in 2016, Rise 1% in Q4

Tiffany & Co. today (March 17) reported its financial results for the full year and the three months (fourth quarter) ended January 31, 2017, which were consistent with its previously issued guidance for the 2016 fiscal year. Worldwide net sales declined 3% in the year and rose 1% in the fourth quarter, while in both periods higher gross margins countered growth in operating expenses. Net earnings per diluted share declined 1% in the full year and 2% in the fourth quarter. The company generated more than $700 million of cash flow from operating activities in the full year. 

JewelryRetail and Consumer Confidence

CARAT+ Diamond Trade Show Antwerp Teams with Bond Girl & Rapaport

Organizers of the CARAT+ "Diamond Event" trade show to be held in Antwerp from May 7 - 9 have announced an agreement with "Bond Girl" Caterina Murino (Casino Royale, 2006) to be a guest of honor, and has announced an exclusive media partnership with The Rapaport Group. Murino, playing the sultry Solange Dimitrios, became the 71st member of one of the most celebrated and exclusive clubs in movie history, known as "the Bond Girls".

JewelryRetail and Consumer Confidence

GJEPC Hosting International Diamond Conference 2017

The Gem and Jewelry Export Promotion Council (GJEPC) will host the International Diamond Conference, "Mines to Market 2017", to be held on March 19 and 20, 2017 in Mumbai. It will gather leading miners, diamantaires, retailers, bankers and analysts from across the globe on a single platform to discuss issues faced by the global diamond industry, such as supply and demand, marketing and financing, and will cover all aspects of the diamond pipeline including mining, midstream, marketing & retail, international finance, valuation with KP and diamond certification.
 

Mining and ExplorationRetail and Consumer Confidence

Paul Zimnisky's Overview of Diamond Industry, 2016 Through Early 2017

Diamond industry analyst and author of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky, takes us on, "A Trip Through the Diamond Industry in March 2017." If there is one trip you make this weekend, we recommend this one.

Mining and ExplorationRough MarketManufacturingRetail and Consumer ConfidencePolished

U.S. Jewelry Store Sales Increase by 3.8% in 2016

Sales at specialty jewelry stores in the U.S. grew 3.8 percent to $31.43 billion in 2016 following a sharp rise in December, according to data from the the U.S. Census Bureau. December sales jumped 7 percent to $6.21 billion from $5.81 billion in December 2015, the provisional figures showed. To give an indication of the impact of December sales on overall jewelry sales, the monthly sales average for the 11 months before December was $2.29 billion, meaning that December sales represented a 170% rise over the 11 months prior.

Retail and Consumer ConfidenceJewelry

Signet Jewelers Sales Fall 4.5% in "Challenging" Q4

Signet Jewelers, recently making unfortunate headlines with the reemergence of allegations for sexual harassment, has reported falling sales nearly across the board in the fourth quarter (the 13 weeks ended January 28, 2017), as overall same-stores sales fell 4.5% in the quarter, and 1.9% for fiscal year 2017. The 4.5% fall in Q4 sales compares unfavorably to a 4.9% increase in Q4 2016.

JewelryRetail and Consumer Confidence
Bloomberg

Hong Kong Consumer Spending on Jewelry, Luxury Items Slips in January

Retail sales in Hong Kong across all categories resigtered an 0.9% drop in value terms and a 1.4% fall in volume terms year-on-year, according to statistics released last week by the HK government.

Retail and Consumer ConfidenceJewelry

Jewelers Vigilance Committee Appoints New CEO and President

The Jewelers Vigilance Committee (JVC), a committee dedicated to educating and regulating the ethics and integrity of the jewelry industry, has appointed Tiffany Stevens as its new president and CEO, reports JCK. She succeeds Cecilia Gardner, who held this post for 18 years, was general counsel of the World Diamond Council for 15 years and was involved in the Kimberley Process from the time of its inception in 2000.

JewelrySustainabilityRetail and Consumer ConfidenceLegal

Chinese Millennials Wearing Diamonds Daily

As the Hong Kong Trade Fairs get under way, all eyes are on the Chinese retail market and their largest contingent of diamond consumers – the Millennials. Since 2015 luxury jewelers have noticed a growing demand for diamonds by Chinese millennials, aged 18 to 34, who are altering the perception that diamonds are only a symbol of love to be received when getting engaged, married or for an anniversary.

Retail and Consumer Confidence

Diamond Producers Association Goes Prime Time at Oscars

The Academy Awards taking place tonight are not only Hollywood cinema's biggest night of the year, but are also one of the most pivotal annual events for fashion, brands and iconic jewelry.

Retail and Consumer ConfidenceWorld News

De Beers’ Forevermark Announces Strong 2016, Reaches 2,000 Outlets

Forevermark, the diamond brand from the De Beers Group of Companies, has expanded to 2,000 retail outlets globally with the intention of expanding by an additional 10% this year, said CEO Stephen Lussier. The opening of the 2,000th Forevermark outlet, the Zen Diamond Anatolium store in the city of Bursa in Turkey, was followed by an announcement of a strong 2016. The brand spent US$85 million on consumer-facing marketing activities in 2016 to help stimulate global demand for diamond jewelry.

Retail and Consumer ConfidenceJewelryWorld News

De Beers May Abandon London Flagship Due to Rising Rents, Rates

De Beers Diamond Jewelers on Old Bond Street is considering leaving its flagship London store after almost 15 years, citing an increase in rent and business rates as motivating its decision to relocate, writes The Telegraph. A spokesperson for the company told The Telegraph increased costs related to its lease had led it to “explore alternative options on Bond Street” for its move.

JewelryRetail and Consumer Confidence

Jewelers Board of Trade: 50% Rise in U.S. Jewelry Business Closures in 2016

"Last year, 1,669 jewelry businesses (including manufacturers and wholesalers) ceased operations in the United States, a 50 percent jump from 2015, according to the Jewelers Board of Trade", writes JCK's Rob Bates. In total, the number of jewelry businesses fell by 6%. He notes that a surprisingly large number of businesses closed their doors in the fourth quarter, traditionally a time when the trade is in full swing. Bates provides the gory details: 1,269 U.S.

PolishedRetail and Consumer ConfidenceJewelry

Signet Jewelers Makes Changes at Top of Organization

Signet Jewelers has announced several organizational changes, "Designed to enable execution of key business priorities including strengthening customer service, enhancing digital capabilities and driving profitable growth." This includes the promotion of Sebastian Hobbs, UK Managing Director, to the newly created role of President and Chief Customer Officer, while two long-time executives will be retiring: Ed Hrabak, Signet Chief Operations Officer; and Tryna Kochanek, EVP, North American Store Operations.

JewelryRetail and Consumer Confidence

Rapaport: Soft Polished Diamond Prices as Rough Market Surges

Citing data from its RapNet Diamond Index (RAPI), Rapaport News writes, "Diamond manufacturing profits were squeezed in January amid strong rough demand while polished prices softened." Despite a disappointing holiday season, demand of rough is strong as jewelers will need to restock after the holiday season. This is demonstrated by De Beers' First Cycle sales of $720 million, its largest sight since July 2014.

Rough MarketPolishedRetail and Consumer ConfidenceManufacturing

Antwerp Archives Reveal Diamond Trade Dating Back to 1447

Last week - on the occasion of the "Diamond Year" that the City of Antwerp will celebrate from October 2017 through February 2018 - the City of Antwerp dug deep into its "Insolvente Boedels" archive, recognized by UNESCO as a World Heritage resource, to reveal documents dating the diamond trade in Antwerp back to 1447 - or 570 years ago. The "crown jewel" of the documents revealed is an edict dating from 1447 in which the 'College of Mayor and Aldermen' decree that, "No one may trade in fake diamonds." The College was well ahead of its time.

World NewsFun FactsRetail and Consumer Confidence

LVMH Records 5% Revenue Increase To $40B

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded a 5% increase in revenue, reaching $40.08 billion (€37.6 billion). With an organic revenue growth of 8%, Q4 saw an acceleration compared to earlier in the year. Europe, the Unites States and Asia, excluding Japan, remain well positioned and continued to show significant improvement. This slower demand in Japan and France was likely due to the continued decline in the number of tourists. The strongest performers included fashion and leather goods (+34%) and wine (+13%).

Retail and Consumer Confidence

Shaky Holiday Season Pressures Retailers To Close Their Doors

U.S. retailers are under threat of having no option but to close their stores and move their business to the Internet, write Lindsey Rupp and Molly Smith for BloombergMarkets. In the last 18 months, over 5,000 stores have closed their doors, with an additional 10% of all U.S. retail spaces being forced to repurpose or close down altogether. Although consumer spending this holiday season (Nov-Dec) increased overall by 4% to $658.3 billion, ending slightly higher than earlier projections, this can be attributed to deep discounts and online purchases.

Retail and Consumer Confidence

LVMH: Marrying Luxury and Sustainability

Sustainability has entered the mainstream in a signficant way, with young companies often making it a prime selling-point while well-known retailers, consumer products giants, and tech firms cater to consumers who increasingly care about sustainability.

SustainabilityRetail and Consumer Confidence

Online Retailer Blue Nile Launches Diamond Buyback Service

The Seattle-based online jeweler Blue Nile has partnered with online diamond buyback company Mondiamo to create what it calls a transparent process for those looking to sell their diamond jewelry, writes The Seattle Times. The service works like this: Customers enter details of their stone’s grading report on the site and receive a minimum guaranteed cash offer. (For non-GIA reports, the price is adjusted based on a proprietary algorithm.) If there is no report, no offer is given.

JewelryRetail and Consumer Confidence

JCK's Rob Bates Arranges Overview of U.S. Holiday Jewelry Sales

Rob Bates of JCK has gathered his sources to put together an overview of holiday jewelry sales and says that, "The data shows a mixed, but not altogether downbeat, picture. This year, holiday results appear to be all over the map—some independents did great; others recorded a 1 to 2 percent gain, which has become standard for many since the recession. In a surprise, we also saw mixed results at the mass-market level as well." Below are a few notable takeways from the information JCK has gathered.

JewelryRetail and Consumer Confidence

Diamond Producers Association May Up Marketing Spend Significantly

According to Thomas Biesheuvel of Bloomberg, the Diamond Producers Association (DPA) - an international alliance of the world’s leading diamond mining companies whose mission is to protect and promote the integrity and reputation of diamonds, and of the diamond industry - will ask its backers to raise its budget to as much as $60 million a year. DPA chief executive officer Jean-Marc Lieberherr declined to comment on the article.

Retail and Consumer Confidence

De Beers CEO: Collaboration & Progress Will Create Opportunity in Changing Diamond Environment

From De Beers' press release: Speaking at a reception for customers of its Global Sightholder Sales business during the first Sight of 2017, Bruce Cleaver, De Beers Group CEO, today highlighted the importance of all parts of the diamond sector working together, following the unpredictable events of a volatile year in 2016.

Retail and Consumer ConfidenceFinance and Trade

Tiffany's Reports Slightly Improved Sales Over Holiday Season

Tiffany & Co. reported its sales results for the holiday period, the two months leading up to December 31, 2016. Worldwide net sales improved slightly as opposed to the previous year to $966 million from $961 million a year before, due to a sales growth in Asia-Pacific and Japan. These results were offset by lower sales in the Americas and Europe as worldwide comparable store sales declined by 2%.

Retail and Consumer ConfidenceJewelry

Birks Group Reports 11% Sales Increase In Holiday Season

Birks, a group that operates 46 luxury stores in Canada, Florida and Georgia reported an 11% sales increase this holiday season. In the U.S. sales increased by 16% whereas in Canada sales grew by 3% compared to the previous holiday season. The growth in sales was the result of the company’s success in growing its average sales transactions and conversion rates, reflecting the success of the company’s long-term sales growth strategies.

Retail and Consumer ConfidenceJewelry

Retail Predictions To Adopt In Order To Stay Relevant In 2017

National Jeweler’s Editor-in-chief Michelle Graff made 3 Predictions regarding the retail market for 2017 based on current market trends and the way consumer demand is changing with the times. Retailers, including larger chains, will continue the 2016 trend of closing down. Women’s clothing retailer The Limited announced that they were closing all their stores and operating strictly online.

Retail and Consumer ConfidenceJewelryOpinion piece

American Gem Society Introduces Online Diamond Visualization Tool

The American Gem Society Laboratories (AGS Laboratories) announced the release of a new service offering - "Only My Diamond" - that allows suppliers and retailers to present the diamond to their customers by "bringing the grading report to life", and providing complete details on the 4Cs, with visual and descriptive explanations of the diamond characteristics. The service is an interactive online tool on AGSLab.com, providing an enhancement to AGS Laboratories' Diamond Quality Document (DQD) by offering supplementary diamond quality information.

Retail and Consumer ConfidenceJewelryTechnologyGrading

De Beers CEO Talks Diamonds and Millennial Marketing

De Beers CEO Bruce Cleaver sat down with Joseph Pisani of the Associated Press to talk about how the diamond industry is trying to reach millennials, "the under-35-year-olds who may be more focused on paying off student loan debt than buying diamonds and getting hitched." The commercials the Diamond Producers Association launched in 2016 - the financing for which De Beers contributed to as member of the DPA - abandon the conventional view of diamonds purcha

Retail and Consumer ConfidenceJewelryLifestyle

'Clicks & Bricks' A Winning Diamond Jewelry Retail Model

The ‘Clicks and Bricks’ retail sales model for jewelry combines the strengths of online shopping and the bricks and mortar business model, a successful and growing formula that is providing great returns for companies like Ritani, writes Better Diamond Initiative (BDI). "Ritani, which was a wholesaler earlier, has transformed into an USD 50M online jewelry company. It is the 40th Most Promising Company of America according to the Forbes’s list", and the main reason is the combination of online and physical retailing.

Retail and Consumer Confidence

Tiffany & Co. Unveils Film Highlighting Diamond Traceability & Transparency, Mine To Finger

Tiffany & Co. has unveiled a short film on its diamonds, highlighting their journey through Tiffany's vertically integrated supply chain from mine to their studio in Antwerp, from Antwerp to the company’s polishing workshops in Mauritius and their final journey to New York. The film gives the viewer unprecedented access inside from inside three critical junctures of the journey from responsible mining to sorting, marking, cutting, polishing, grading, setting – and finally, the famous Tiffany Blue Box®.

SustainabilityRetail and Consumer ConfidenceRetail and Consumer Confidence

Tanishq Jewelry Brand Pulls Titan Through India’s Cash Crisis

India's Titan Company said in a stock exchange filing that its performance in the October-December quarter was lifted by a 15 percent retail growth in its jewelry brand, Tanishq, despite India’s demonetization of the country’s ₹500 and ₹1,000 notes weakening consumer demand, writes Azman Usmani for Bloomberg Quiint. Titan Company Ltd.

EconomyRetail and Consumer ConfidenceJewelry

Avi Krawitz: Source Verification The Diamond Story of 2016

Diamond industry analyst Avi Krawitz presents his thoughtful analysis of the year that was in the diamond industry 2016: "The Year Trust Returned to the Diamond Trade".

Market AnalysisSustainabilityComplianceFinance and TradeRetail and Consumer ConfidenceManufacturing

The diamond industry is changing, and the global environment in which we operate is changing too. There is a constant and inseparable interaction between the two. We must continue to evolve ... The diamond industry should change its traditional approach towards consumers. My proposed new approach towards current and future consumers is one based on openness and transparency. For most consumers, the diamond mining and manufacturing process is opaque. If we become more open about how diamonds reach the consumer, we will change the consumer’s perception of the diamond industry and of diamonds themselves. In my opinion, it is transparency that will transform end consumers’ behavior and bolster their confidence.

- Ehud Arye Laniado, from his "Year-End Wrap Up: How the Diamond Industry Can Move Forward in 2017"

Ehud Arye Laniado

U.S. Consumer Confidence Highest in 13 Years

Consumer confidence climbed in December to the highest level since August 2001 as Americans were more upbeat about the outlook than at any time in the last 13 years, writes Bloomberg based on a report from the Conference Board, a New-York based independent business membership and research association working in the public interest. The Conference Board Consumer Confidence Index®, which had increased considerably in November, posted another gain in December: the Index now stands at 113.7 (1985=100), up

Retail and Consumer Confidence

Chinese Women Aren't Waiting For Men To Buy Them Diamonds

In 2015, Chinese millennials - specifically women aged 18 to 34 - accounted for 68% of Chinese diamond sales, worth $6.76 billion last year, according to research by De Beers. Jily Ji, a 27-year unmarried college graduate: “We don’t have to passively wait to be gifted a diamond by a man, diamond jewelry is a natural way to express ourselves. It’s a far better investment than most fashion items as it won’t only gain value, but can also be passed down through the generations.” In their "Diamond Insight Report 2016" De Beers points out that U.S.

Market AnalysisJewelryRetail and Consumer Confidence

HRD Antwerp opens 1st “Centre of Excellence” in China

HRD Antwerp, the Antwerp based grading lab, officially opened a first Centre of Excellence in Shanghai, a concept that combines the strenghts of the grading lab and select retailers across the globe, aimed at increasing consumer confidence and knowledge by offering a true in-store experience.

LaboratoriesJewelryRetail and Consumer Confidence

De Beers Talks Millennial Strategy

De Beers newly appointed CEO, Bruce Cleaver, sat down with The New York Times regarding Diamonds and Millennials. In October the DPA, Diamond Producers association, launched their highly anticipated “Real Is Rare” campaign, partly funded by De Beers.

Retail and Consumer Confidence

Christie’s Rakes In $51 Million In Jewelry Auction

Christie’s Magnificent Jewels Auction, which took place at the Rockefeller Plaza in New York on Wednesday, saw $51 million worth of jewelry go under the hammer. A GIA-certified Type IIa rectangular, 51.35-carat, D-color, VVS1 diamond fetched a whopping $5.6 million - over $108,000 per carat - well within the estimated $5 to $7 million.

JewelryRetail and Consumer Confidence

Bain Report: Millennials Have Same Attitude, Preferences for Diamonds As Other Generations

The recently published Global Diamond Report 2016 prepared by Bain & Company and AWDC covers industry developments in 2015 and early 2016 and takes a close look at the millennial generation (roughly speaking, people born between 1980 and the early 2000s) as a new category of diamond buyers.

Retail and Consumer Confidence

Bain Report: Value of 2015 Retail Diamond Jewelry Sales Stagnates; Trade Rebounds in 2016

Bain & Company together with the Antwerp World Diamond Centre (AWDC) has published their sixth annual report on the global diamond jewelry trade, with the lead insight being that in 2015 - not a banner year by any stretch of the imagination - retail sales grew 3% at constant exchange rates but declined about 2% in US dollar terms due to currency depreciation and slower demand in China. This followed a period of growth from 2012 through 2014, signifying that diamond jewelry consumption has entered "a moderation phase".

Retail and Consumer ConfidenceEconomyFinance and Trade

Black Friday Online Sales Set New Record, Brick-&-Mortar Suffering

Black Friday's online sales beat estimates as shoppers moved online for the shopping holiday, with mobile devices driving more purchases than ever, writes Adobe Digital Insights. ADI adds that this year's online sales shattered 2015's record as the convenience of mobile likely spurred more shoppers to make purchases remotely, rather than navigating crowded brick-and-mortar locations. ADI reported total online sales for the period Nov. 1-30 at $43.9B, with total online sales growth at 7.4%. Thanksgiving Day alone saw $1.15B of online sales for y-o-y growth of 13.6%.

Retail and Consumer Confidence

Forevermark Unveils The Black Label Collection

Forevermark, the diamond brand from The De Beers Group of Companies, unveiled The Forevermark Black Label Collection, a new generation of beautiful fancy shape diamond cuts creating an exceptional sparkle. The brand developed its own propitiatory technology that maximizes the brilliance of each stone, as a diamonds beauty is intrinsically related to the way light is refracted. The new technology allows for perfectly symmetrical cuts which are presumed to be unprecedented in accuracy in every shape.

JewelryRetail and Consumer ConfidenceManufacturing

Tiffany & Co. Sales Rise In Q3, First Growth in Two Years

Tiffany & Co.’s shares rose by more than 6% following the announcement of their third quarter update, reporting the jeweler’s first sales growth in over 2 years. Net sales worldwide advanced by 1% to $949 million, and comparable store sales declined 2%. These figures reflect the mixed results across geographic regions and the various product categories. Frederic Cumenal, Tiffany’s chief executive officer, said “We are encouraged by early signs of improvement in sales, but we clearly need more positive data over time before this can be considered an inflection point.”

JewelryRetail and Consumer Confidence

Walmart Not Authorized To Sell Cartier Diamond Watches

In response to Walmart selling their $18,000 Diamond Watch on walmart.com, Cartier issued a statement clarifying that Walmart is not authorized to sell its products. Walmart has more than tripled its online offering of products over the past year, and made headlines last week when the Wall Street Journal reported that a third-party vendor, New York-based Jewelry Unlimited, was selling a $18,000 diamond watch by Cartier on walmart.com on Black Friday. Cartier took aim at Walmart on Monday, saying it could not vouch for the authenticity of the watches sold via walmart.com.

Retail and Consumer ConfidenceLegal

Price of Baselworld Too High for Timex Group Swiss Luxury Division

The Timex Group Swiss Luxury Division - which manages the watch business for luxury fashion brands Salvatore Ferragamo, Versace, Versus and Nautica through licensing agreements - is the latest company to leave the Baselworld watch and jewelry show, writes Anthony DeMarco for Forbes. According to Paolo Marai, president and CEO of the division of the Timex Group, the money the company spends participating in Baselworld - $3 million - could be better spent elsewhere. “I think that Baselworld is a huge investment for everybody and is in my opinion losing some effectiveness,” he said.

JewelryRetail and Consumer Confidence

Declining Demand For Swiss Watches Causes Job Cuts At Richemont

On November 14, Richemont announced they would cut 210 jobs, this following the announcement from Chairman Johann Rupert, who abolished the CEO position in the company’s biggest management shakeup since 2009.

Retail and Consumer ConfidenceEconomy

World’s Largest Jeweler Opens Its First Branded Point Of Sale In The U.S.

Chow Tai Fook, the Hong Kong based jewelry powerhouse that has taken Asia by storm, operating more than 1,800 stores in Mainland China, has finally made its way to the U.S.
The group opened their first shop-in-shop at Macy’s in Flushing Queens, colloquially referred to as ‘the Chinese Manhattan’, on November 12 2016. The shop spans approximately 500 square feet, and is based in one of the most dynamic districts in New York City with a large customer base of immigrants and tourists.

Retail and Consumer ConfidenceJewelry

Courting Catastrophe: Tulip Mania and Diamond Mania

Two investment bubbles, 340 years apart, provide living proof of Edmund Burke’s famous observation that those who do not know history are doomed to repeat it. Rough diamond broker and founder and president of N.Rothmann, Nurit Rothmann recounts the history of two remarkably similar speculative bubbles: the spectactular rise and sudden collapse of the tulip market in 1637 and the rough diamond market in the late 1970's and early '80s. Reprinted here by special arrangement.   

In-depthRough MarketPolishedSustainabilityRetail and Consumer Confidence

Decline of U.S. Jewelry Trade Continues in Q3

Citing data from the Jewelers Board of Trade (JBT), Rapaport News writes that jewelry business closures in the U.S. increased 31 percent to 416 nationwide in the third quarter, although most companies had “ceased operations,” which means they closed for reasons other than financial difficulty or consolidation. "These totaled 392, representing a 42 percent jump from a year ago. Bankruptcies crept up to 10 cases from nine a year earlier.

Retail and Consumer ConfidenceJewelry

Unconventional Tastes and Secondhand Market Changing Diamond Ring Landscape

In her recent article for Bloomberg, "Happy Couples Don't Buy Diamonds Online the Way They Used To," Polly Mosendz analyzes the changing landscape for diamond engagement rings - and in particular the online sales thereof. She notes firstly the trend for diamond rings to change hands online in way they never did previously, resulting in tremendous growth in the second-hand market.

JewelryRetail and Consumer Confidence

Bain Capital and Bow Street To Acquire Online Jeweler Blue Nile for $500 Million

In a surprise announcement, online jeweler Blue Nile said Monday that it has entered into an agreement to be taken private by an investor group comprised of funds managed by Bain Capital Private Equity and Bow Street LLC, writes Anthony DeMarco for Forbes. The all-cash deal is valued at $500 million.

Finance and TradeRetail and Consumer Confidence

Multiple ‘Lower-Tier’ Chinese Cities To Have 2 Million+ ‘High-Income’ Consumers by 2030

According to a new study by The Economist Intelligence Unit (EIU) entitled “Chinese Consumer in 2030” (paywall) released this week, 35 percent of China’s population is predicted to be “upper-middle class” or above by 2030, reports Jing Daily. EIU's summary introducing the report states, "The traditional drivers of China’s economy, investment and exports, are struggling, but the country’s consumers keep spending.

EconomyRetail and Consumer Confidence