National Jeweler reports that independent retailers, according to data rom The Edge Retail Academy performed better than expected with a revenue increase of 2 percent compared to June 2019.
“‘A Game of Stones’ documents these facts not to harm the diamond trade in CAR, but to ensure they are confronted rather than ignored. It acknowledges - and tentatively welcomes - the efforts of the Kimberley Process and the government of CAR, but warns of risks that must be acknowledged and dealt with if genuine reform is to be achieved. It seeks to expose those who view the country’s current troubles as a business opportunity, while urging greater support for those seeking to mend them, including from international diamond companies."
Citing figures from Jewelers Security Alliance, National Jeweler reports that jewelry crime rose 6 percent year-over-year in 2016, to 1,245 reported crimes committed against U.S. jewelry firms, compared with 1,177 in 2015. The losses in dollar terms were roughly equivalent, increasing approximately 5% to $72.4 million. Michelle Graff notes there were a total of six industry homicides in 2016 - five jewelers and one traveling salesman - up from two in 2015, while jewelers killed five robbers, up from three in 2015.
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.
A week after the Gemological Institute of America (GIA) announced that its Hong Kong laboratory recently identified an undisclosed chemical vapor deposition (CVD) grown diamond weighing 5.19 carats - the largest ever CVD synthetic diamond ever detected - Tom Moses, the GIA’s executive VP and chief laboratory and research officer explains to Michell Graff of The National Jeweler how lab-grown diamond certificates issued by GIA differ from their natur
Earlier this week, Michelle Graff of National Jeweler reported that Tiffany's had been awarded $5.5 million in their legal dispute with Costco. A New York jury has now ruled that wholesale merchandiser Costco must pay them an additional $8.25 million, potentially bringing the total to $13.75 million pending the judges verdict.
A federal jury in New York awarded Tiffany & Co. $5.5 million in damages last week in part one of a two-part verdict being handed down in its case against Costco Wholesale Corp., writes Michelle Graff for National Jeweler.
Pin Lee, writing for the South China Morning Post, spoke with insiders from the Hong Kong and Asian diamond market to get their opinions on diamonds as an investment. While not without risk, as with any investment, by making a careful choice and focusing on the highest quality and rarest of stones, one should end up with a rock-solid investment. "Generally speaking," said Chin Yeow Quek, Sotheby’s deputy chairman of Asia and chairman of international jewellery in Asia, "diamonds do not fluctuate but, as with most items of value, there will be some ups and downs.
Michelle Graff of National Jeweler considers De Beers/Forevermark's new holiday commercial (It’s a Long Journey to Become the One), which revisits the "A Diamond is Forever" theme of yesteryear, and wonders why De Beers did not take this opportunity to show where Forevermark diamonds come from and how they are helping the communities where they are mined. "Why didn’t Forevermark emphasize its responsibly sourced origins in this year’s holiday advertising campaign?" They could have.
Unlike the laundromat, aspirin and the Murphy bed, "Tiffany" is not (yet) a generic product, thanks to last week's ruling that US wholesale giant Costco committed trademark infringement by labeling its engagement rings as "Tiffany". Costco claimed in a countersuit that "Tiffany setting" is a generic term for any ring with prongs extending upward from a base to hold a single gemstone, but the court rejected this argument.
The National Jeweler reports EGL USA is now issuing grading reports under the GHI brand name as it continues to work to distance itself from the EGL International brand, which has been damaged by accusations of over-grading. EGL USA is not affiliated with EGL International, and has been waiting in vain for a federal court to rule in favor of blocking entry of EGL reports into the United States, EGL USA executive manager Jakubovic commented in an interview with the National Jeweler. Jakubovic added the removal of all EGL certificates from Rapnet "was a big issue" for EGL USA.
"The millennials aren’t the first generation with a “you-don’t-know-how-to-advertise-to-us” attitude. I know from hearing from jewelers that it’s tough to reach millennials today but it’s always important to keep perspective. This isn’t the first generation that feels like they don’t know how to reach younger people and also not the first to have to embrace new technology."
Michelle Graff, Editor-In-Chief of The National Jeweler draws lessons from TV hit series "Mad Men".
In response to the growing presence of lab-grown diamonds in the trade, the Accredited Gemologists Association is holding a half-day conference in Las Vegas on Thursday, May 28 to help people at all points along the supply pipeline understand the stones. The conference will include presentations and a town-hall style moderated discussion, addressing such topics as detection, market perceptions and pricing of synthetic diamonds from producer to retailer, alongside a hands-on session allowing participants to handle and become familiar with gem-quality lab-grown diamonds.