Equity Research on Tiffany & Co. and Zales has revealed that the growing middle class in emergent markets are the main driving factor for the increase in sales of luxury goods like fine jewelry. The recovering economy of the United States and Europe have also contributed to this sector’s growth. Also noted is that the recent earthquake in Japan could plausibly slow down the sales growth in luxury goods because Japan is the 3rd largest purchaser in this category making up over 20 percent of sales in the luxury goods sector.
“Luxury goods have been seeing relatively strong sales as the economy recovers. Emerging markets, with their fast growing middle class have been responsible for some of the strong sales but the US and Europe has also been contributing. Since the end of the recession, the luxury goods sector, including jewelry stores, seems to have been regaining ground faster than midrange retailers. Visit www.shinesroomonline.com to see how companies in this industry have grown over the past years and how they are expected to perform in the future.”
The diamond trading company increases prices for De beers site holders for a second time this year. The prices had risen by 7% in February and this time sight participants report that on small Indian goods it has risen by 25%. The DTC spokesperson Louise Prior said that there were readjustment of prices, but declined to give details. Sight holders are in a confused state about how the trading will develop and some also cautioned that the market was driven by dealer trading and that manufacturing was lagging.
“Polished is behaving well and we are able to push the prices up but it’s difficult to transfer the rough increases to the retailer because they have fix sales catalogues,” he said. “It takes time to absorb the new prices and you can only push so much. In six to nine months’ time I feel the market will stabilize or dip a bit but today everyone is working hard and prices are moving.”
Winning designs of the first Sustainable Design Awards on March 29 were announced by Johnson Matthey of New York. The winners were Jason Dow of Jason Dow Jewelry in Honolulu, Stephanie Satow of SCS Jewelry in Colorado Springs, Colo., and Erik Stewart of Erik Stewart Jewelry in Tucson, Ariz. Mark danks, the sales and marketing manager said that not only sustainability but also many other things like working with a community were important.
“We’ve been saying for some time that sustainability is not just about the environment and that other elements are just as important, such as working with a community,” Mark Danks, sales and marketing manager of JMNY, said in a statement.”We really want to tip the balance back toward platinum from cheaper alternatives, so by starting with the newest people in the industry, we hope to play our part in sustaining the design and manufacture of platinum jewelry in North America.”
A gang of five thieves broke into the Baselworld watch and jewelry show and stole stones worth millions of dollars, while two distracted the operator the other three broke into the display and stole 4 diamonds. Eye witnesses say that all the stones were big ones and one of them was certainly 30 carats. The theft was discovered 10 minutes later and the thieves managed to escape. A security person said that the stolen diamonds were worth 10.9$ million. Police are investigating the case with video footage of the hall.
A cape fishing village has claimed a chunk of the famous De beers diamond mine. The village consisting of 40 families threatened the company not to sell it until their claim was settled. The claimants say that the company should move to the court to settle the issue, but the De beers spokesperson Tom Tweedy said he was waiting for the court to give final documents relating the claim.
“You can’t sell a house that is not yours,” Markus said. “We are saying that De Beers must first sort out the problems in their house before they sell to a third party. They can’t go and sell the land if we are having a claim there.”
The DIVA design competition is back with a new theme for this year. This year’s theme includes ‘Eco-Conscious Jewels for Today’s Green Consume’ and each participant can post three entries in each category. There are three categories
2 Evening jewel
3 Men’s jewel
All the entries must be submitted before April 25 and the results will be announced by may 10,the winners will be called to the JCK Las Vegas show and will be recognized there. The winner will be receiving a cash prize 750$ and the first and second runner up will be provided with a certificate of achievement.
JA New York Winter show hosted the National retail design competition from Feb 27 to March 1 of 2011, in which the participation of JA members under Robert Headly were the highest with more than 50 types of jewelry entries.
Stephen Spicer of Spicer and Co., Jennifer Whitekiller of Naifeh Fine Jewelry, Ziad H. Noshie of Almaza Jewelers, Chris Ahee of Edmund T. Ahee Jewelers in Groose Pointe Woods, Elizabeth Buenaventura of Martin Kirschenbaum Inc. and Dennis deJonghe of deJonghe Original Jewelry are the CASE Award winners.
“We were thrilled with the increase in submissions for the 2011 CASE Awards, as it more comprehensively reflected the remarkable jewelry available from JA member stores nationwide,” JA COO Robert Headley said in a statement.
The JDPN jewelery Design Professionals Network was Founded in 1995. it works to provide education to young artists in jewelery design,here even artists are encouraged to give their views on some topics and concerns.To mark its 15 years the group is organizing a Meet the Members event on March 22, from 6:30 pm–8:30 pm. at the SLC Conference Center in Manhattan.The JDPN achieved non-proit status in 1998 before that it had an official entity since 1996.
“From the beginning, the JDPN emphasis has been offering friendly support to jewelry professionals,” said Dana Buscaglia, present-day JDPN president, to the press. “Designers and craftsman tend to be fairly isolated, given the nature of their work. JDPN offers a variety of events to stimulate meaningful contact amongst this talented group of artisans.”
At the 83rd Annual Academy Awards, stars including Anne Hathaway, Hailee Steinfeld, Carie Lemark and Jennifer Hudson wore extravagant jewelry. The values of such ranged from 10 ct diamond earrings to Amy Adam’s million-dollar carved emerald watchband.
“While Black Swan‘s Natalie Portman and The King’s Speech star Colin Firth got to take home little gold statues, most of the stars at the 83rd Annual Academy Awards enjoyed wearing their gleaming metals in fine-jewelry form while walking the red carpet.”