Signet Jewelers, the United States' largest retailer of diamond jewelry, announced its same-store sales fell 1.3% to $1.84 billion during the "Holiday Season" (the 9 weeks ended January 5, 2019) as the company failed to get enough demand from its legacy product lines and enough traffic in their stores during key weeks in December. For the current quarter ending Feb. 2, it now expects same-store sales to be down 1.6% to $2.5%.
Chow Tai Fook has announced its partnership with native New York designer Vera Wang on a fine jewelry collection launching October 19, 2018 in Mainland China. "Bringing together the foremost Chinese-American designer in the fashion industry and the renowned fine jewelry company in Greater China," the announcement reads, the new collection will "cater to the modern Chinese bride, who has begun to incorporate diamond jewelry into traditional engagements," moving beyond the traditional gold and jade usually worn by brides in China.
Famed jeweler Tiffany & Co. has lifted the veil on the company’s upcoming jewelry collection, Tiffany True, its first new engagement line in nearly a decade. The newly designed engagement ring at the core of the collection features a new cut of diamond, and its setting is designed so that its four link sides create a basket for the ring, allowing it to sit lower on the finger for a more modern feel.“Tiffany has symbolized the ultimate in love and commitment since 1886 with the invention of the original Tiffany Setting.
The Millennial and Gen Z generations combined accounted for two-thirds of global diamond jewelry sales in 2017, as diamond jewelry demand reached a new record high of US$82 billion, according to data published today by De Beers Group in its latest Diamond Insight Report.
Many women (and men) dream of the moment their partner will get down on one knee and ask the big question with the little box – but what if it’s not the ring you’ve been dreaming of? Helzberg Diamonds just thought of the perfect solution, the Will You? ring—a $50 “ring before the ring” that marks the proposal, but not the actual engagement.
Vrai & Oro, the jewelry designer owned by laboratory-grown diamond producer Diamond Foundry, has closed its Los Angeles retail store after only six months. Despite several articles by the likes of Vogue announcing their partnership, and The Hollywood Reporter dropping Hollywood names like headliner Leonardo DiCaprio, the designer has come to the conclusion, "that retail is a true challenge." The Los Angeles fine jewelry label, which was purchased by Diamond Foundry in November of last year, opened a store in downtown L.A. at the ROW DTLA shopping center last August.
According to a survey of more than 14,000 engaged or recently married individuals undertaken for the 2017 Jewelry & Engagement Study by popular wedding planner The Knot, the average spend on engagement rings is $6,351, up 25 percent from 2011 ($5,095).
Ashley Davis of National Jeweler reports from JCK Las Vegas on the findings of a survey conducted by WeddingWire, an online wedding marketplace: essentially there seems to be a disconnect between the buyer and the receiver regarding the criteria modern couples use to shop for engagement rings. The proposer’s main concern is the quality of the stone, as the focus is on enduring value; the receiver valued the design and setting above all else, with quality and size ranking fifth and sixth respectively.
According to Harper's Bazaar, this is currently the most popular engagement ring on Pinterest, earning some 63,000 pins. Created by Raymond Lee Jewelers, "it features (.45-carat) princess-cut diamond accents around a dazzling, white-gold centrepiece." It is currently on sale for $8,095 (about £6,200).
Internet loose diamonds and jewelry retailer Blue Nile reported a slight decline in sales of 3.2% in its first fiscal quarter due to a drop in engagement ring sales and a “challenging environment” overall. It posted revenues down to $103.1 million, on the back U.S. sales of engagement jewelry dropping 7%. The seller's profits plunged 9% to $1.1 million, but was more upbeat about its second quarter when it expects sales of $114 million to $117 million which would be a 3% rise on last year. Sales in fiscal year 2016 will also show a 3% increase to between $465 million to $495 million.
Bridal jewelry, traditionally a solid source of income for jewelers, could come under a long-term threat after new figures in Britain showed a sharp drop in the number of people getting married. The Office for National Statistics (ONS) reported the number of people getting married for the first time has fallen to a record low, with just 2.5% of single women in England and Wales marrying in 2013. In addition, the number of weddings also dropped for the first time since 2009.
Diamond industry analyst Edahn Golan draws back the veil of rhetoric concerning synthetic and natural diamonds to reveal what has been missing from the debate thus far: hard numbers.
The ring, created by jeweler Hancocks in upscale Mayfair in London, is set with two 20-carat diamonds and coils around the finger with the ends of the band passing each other on top. The ring, which Hancocks has given a specially-designated security guard, has a price tag of £1.6 million (around $2.1 million).
Starting off with some of the more outlandish comments thrown out by presidential hopefuls, jewelry industry consultant Ben Janowski looks at the impact of changes to come on the economy and the jewelry business in particular. The middle class is shrinking as the number of well-paying jobs decline. "The substantial decline of the middle class, abetted by the economy's shift from manufacturing the services, has stalled the US jewelry business. For some 20 years or so, US jewelry business has stayed at about $30 billion a year, in spite of steadily rising material costs.
Rio Tinto’s Argyle Pink Diamonds have partnered with esteemed Japanese bridal house, Hatsuko Endo, to showcase the finest in beauty and romance from Australia and Japan, creating "a spectacular collaboration of craftsmanship and couture", according to a press release. Hatsuko Endo’s exquisite collection of international designer wedding gowns was paired on the runway in Tokyo with bespoke Argyle pink diamond jewelry, created by some of the finest Japanese jewelry master-craftsmen.
Mode Magazine's 100 Years of Fashion series takes a trip down fashion’s memory lane, revisiting the biggest style trends from 1915 to today, one decade at a time. This video presents 100 years of engagement rings: "Emerald cut, art deco, solitaire, princess cut, halo—engagement rings are as unique as the brides who wear them. Follow along as we recap a century's worth of engagement-ring styles."
Jewelry maker Pandora announced that the Eastern High Court in Copenhagen has acquitted the firm on all counts in a case concerning potential breach of the Securities Trading Act. The verdict concerns a case dating back to 2011 and relates to Company Announcement No. 30 of 2 August 2011, when Pandora announced a downward adjustment of its revenue growth expectations, two weeks earlier than the ordinary reporting date for the Q2 2011 results.
In their latest "Diamond Dialogue", JCK's Rob Bates finds out how the story behind an engagement ring plays a role in its value from Anne Bowers, an associate professor of strategy at the University of Toronto. Bowers, "recently published a fascinating study in Advances in Strategic Management looking at how consumers value an engagement ring of a divorced couple.
Despite the current slowdown in the Chinese economy, the share of diamond consumption in total global sales is expected to increase to 20-25% in the next 10 years, according to the Hong Kong Trade & Development Center (HKTDC). Second- and third-tier cities in the mainland are seen as the main drivers of the growth in buying, Forbes reports. “China is definitely one of our biggest markets," said Hollie Bonneville, head designer at De Beers. "It has probably the highest spending power at the moment within our global audience.
Chinese store sales of gold, silver and jewelry rose 7.3% on the year in 2015 to $42 billion, the country's National Bureau of Statistics (NBS) reported. There was an 11.1% jump in sales in December to $4.6 billion, the NBS said. The figures are somewhat surprising due to the slowing Chinese economy and diamond industry accounts of reduced buying in the world's second-largest diamond consuming market.
The American Gem Society (AGS) has created a U.S. advertising campaign aimed at raising consumer awareness of its work and to push traffic to its consumer-facing website, in particular its “Find a Jeweler” search feature. The campaign features ads targeting both men and women, with a tagline for the ads targeting men of: “Buy It With Confidence.” Ads targeting women will feature the tagline “Love What You See.
Facebook knows about relationships due to its users' 'relationship status' function. When any of its 1.4 billion users moves in or out of a relationship, Facebook knows. Of the 156 million users in the United States 2.6 million changed their status to “engaged” last year, reports The Jewelers Blog. Turns out the most popular days for getting down on bended knee are Christmas Eve, Christmas Day, New Year’s Day and Valentine’s Day, meaning that, ironically, the day everyone assumes to be the most romantic for proposals actually come in fourth.