JCK - Jewelry Industry News, Trends, and Analysis

Global Platinum Jewelry Demand Up, Palladium Down in 2011

dford — Tue, 15 May 2012 14:50:26 +0000

Platinum jewelry demand increased by 2 percent in 2011 to 2.48 million ounces, while palladium purchasing fell 15 percent to 505,000 ounces, according to Johnson Matthey’s Platinum 2012 Review.

The platinum demand increase came mainly from China—where demand reached 1.68 million ounces—as well as India, where demand rapidly grew. Lack of positioning in the Chinese market affected the decrease in palladium purchases.

Platinum jewelry demand increased by 2 percent in 2011 to 2.48 million ounces, while palladium purchasing fell 15 percent to 505,000 ounces.

JCK Staff

Fusion Tenders Announces 100 Percent Sell Through

dford — Tue, 15 May 2012 14:39:02 +0000

Fusion Tenders, in collaboration with I. Henning & Co., announced that it had a 100 percent sell through of all 64 lots of the KAO Production during the sealed bid tender in Antwerp, Belgium from May 7-11.

“We had a very busy week and there was positive feedback on the presentation of the KAO goods," Adam Schulman, Fusion Alternatives CEO, said in a statement. "We look forward to building on this success at our next tender in June."

The next Fusion Tender of KAO production will take place on June 15-21 in Antwerp.

Fusion Tenders, in collaboration with I. Henning & Co., announced that it had a 100 percent sell through of all 64 lots of the KAO Production during the sealed bid tender in Antwerp from May 7-11.

JCK Staff

Top Industry Leaders to Speak at GIA Career Fair

dford — Tue, 15 May 2012 13:51:42 +0000

The GIA Career Fair—scheduled for July 30 at the Jacob Javits Center in New York City—will include speakers such as designer David Yurman, jewelry manufacturing executive Ann Arnold, retail jeweler Lex Graham, and auction house executive Rahul Kadakia.

Aspiring jewelry professionals will also have the opportunity to meet with job recruiters and career coaches, as well as attend a seminar on jewelry trends.

The GIA Career Fair will include speakers such as designer David Yurman, jewelry manufacturing executive Ann Arnold, retail jeweler Lex Graham and leading auction house executive Rahul Kadakia.

JCK Staff

Texas Jewelry Store Owner Engages in Shoot-Out With Robber

dford — Mon, 14 May 2012 17:00:00 +0000

On May 9, an attempted robbery turned violent when a man posing as a customer tried to rob Randy’s Fine Jewelers in Beaumont, Texas.

The suspect, identified as Joshua Nowland, 35, revealed a gun and ordered a customer and employee to lie on the floor. Nowland then allegedly fired a bullet at the store’s owner, hitting his upper leg. The store’s owner retrieved his own handgun, striking Nowland several times in his upper body. The store’s owner held Nowland at gunpoint outside the store until police officers arrived at the scene.

On May 9, an attempted robbery turned violent when a man posing as a customer tried to rob Randy’s Fine Jewelers in Beaumont, Texas.

JCK Staff

Bidz.com Revenue Drops 27% in Q1

dford — Mon, 14 May 2012 16:59:00 +0000

Bidz.com, an online jewelry retailer, announced its net revenue for the first quarter decreased 27.1 percent to $18.1 million.

"2012 continues to be a challenging year, particularly for Bidz.com," David Zinberg, CEO of Bidz, said in a statement. "We are encouraged by the significant growth in Modnique as we remain focused on both our businesses. We are working to enhance our product assortment and overall shopping experience, as we continue to carefully manage our operating expenses."

Bidz.com announced its net revenue for the first quarter decreased 27.1 percent to $18.1 million.

JCK Staff

Jewelry Crime Stories: May 7-14

dford — Mon, 14 May 2012 16:59:00 +0000

A roundup of jewelry store crimes from the past week:

A roundup of jewelry store crimes from the past week.

JCK Staff

JCK Las Vegas to Highlight American Made Products

dford — Mon, 14 May 2012 16:12:52 +0000

The 2012 JCK Las Vegas show will highlight 338 manufacturers and designers whose products are made exclusively in the United States.

More than 50 new exhibitors will showcase their American-made jewelry at this year’s event. The event will distinguish between U.S.-made products through the show guide, online map, booth signs, and American flag decals.

The 2012 JCK Las Vegas show will highlight 338 manufacturers and designers whose products are made exclusively from materials sourced in the United States.

JCK Staff

Royal Asscher to Open Pop-Up Store in Las Vegas

dford — Mon, 14 May 2012 15:06:26 +0000

Royal Asscher Diamonds will open a pop-up store in Las Vegas from May 17–June 4.

The store’s hours of operation will be Sunday through Thursday from 10:00 a.m. to 11:00 p.m. and Friday and Saturday from 10:00 a.m. to midnight.

Royal Asscher Diamonds will open its pop-up store in Las Vegas from May 17–June 4.

JCK Staff

10 Most Popular Jewelry News Stories: Week of May 7

dford — Sat, 12 May 2012 12:45:00 +0000

A roundup of JCK's top stories from the past week:

Richline Introducing Jewelry Vending Machine

Vending machines aren’t just for corn chips anymore.

A roundup of JCK's top stories from the past week.

JCK Staff

Gold Price Erases Gains for the Year

dford — Fri, 11 May 2012 17:00:00 +0000

As we near the halfway point for 2012, gold bugs can’t be too happy about the performance of their favorite metal.

The price of gold, which closed on Jan. 1, 2012, at $1,598 an ounce, was trading at press time at $1,585, meaning all its gains for the year have basically been erased. (It has gained a bit from its Dec. 29, 2011, closing price, which was $1,531 an ounce.)

As we near the halfway point for 2012, gold bugs can’t be too happy about the performance of their favorite metal.

JCK Staff

Amazon, QVC Tops for Internet Satisfaction

dford — Fri, 11 May 2012 15:04:42 +0000

Amazon and QVC have the most satisfied customers on the Web, according to the E-Retail Satisfaction Index from analytics firm Foresee.

The survey ranked Amazon highest for customer satisfaction, with 89 points out of a possible 100.

QVC came in second with 85 points. Also scoring high were Walmart with 82 points; HSN with 81 points; Target, 81 points; and J.C. Penney and Nordstrom with 80 points each. The company contends that scores of 80 points and above are indicative of “superior customer satisfaction performances.”

Amazon and QVC have the most satisfied customers on the Web, according to the E-Retail Satisfaction Index from analytics firm Foresee.

JCK Staff

JCK’s Swiss Watch Event Welcomes Additional Brands

dford — Fri, 11 May 2012 15:03:00 +0000

Swiss Watch, JCK’s high-end timepiece event, will welcome several new exhibitors to this year’s show on June 1-4 in Las Vegas.

The 2012 show will introduce brands such as Eberhard, Glycine, and Parmigiani to the exhibits at Mandalay Bay Resort and Casino, THEhotel, and the Mandarin Oriental. Other luxury brands such as Baume & Mercier, Breitling, Corum, Hublot, Raymond Weil, and Tag Heuer will also attend.

Swiss Watch, JCK’s high-end timepiece event, will welcome several new exhibitors to this year’s show on June 1-4 in Las Vegas.

JCK Staff

Maison Cirio Holds Young Talent Competition

dford — Fri, 11 May 2012 15:02:58 +0000

Maison Cirio, a prominent jewelry house in Turin, Italy, has announced the Enrico Cirio Talent Award Competition to honor young designers.

Competition participants are encouraged to create jewelry pieces inspired by Enrico Cirio, founder of Masion Cirio.

The winner of the youth category will receive a partial scholarship to the three-year Design of Jewel and Accessory course organized by IED Turin. The designer category winner will receive a gold jewel from Enrico Cirio’s original collection.

Maison Cirio, a prominent jewelry house in Turin, will hold the Enrico Cirio Talent Award Competition to honor young designers.

JCK Staff

J.C. Penney Eliminates Sales Commissions

dford — Thu, 10 May 2012 17:01:00 +0000

In the latest phase of its ongoing evolution under former Apple stores chief Ron Johnson, J.C. Penney has eliminated commissions for sales associates.

The new policy may particularly impact salespeople in the jewelry department, many of whom work at least partly on commission.

In the latest phase of its ongoing evolution under former Apple stores chief Ron Johnson, J.C. Penney has moved sales associates from a commission-based pay structure to a competitive hourly rate structure.

JCK Staff

College Freshman Celebrates 10-Year Anniversary of Her Jewelry Business

dford — Thu, 10 May 2012 17:00:00 +0000

Taylor Miller, a college freshman at Southern Methodist University in Dallas has been in the jewelry business for nearly 10 years.

Taylor Miller, a college freshman at Southern Methodist University in Dallas has already been in the jewelry business for nearly 10 years.

JCK Staff

Blue Nile to Offer Private Label Credit Card

dford — Thu, 10 May 2012 16:45:00 +0000

Jewelry e-tailer Blue Nile plans to offer a private credit card, according to a statement from the card provider Alliance Data System.

Card program benefits will include flexible financing options and no annual card fee, as well as online account management. Consumers can select from a variety of financing options.

Alliance Data will partner with Blue Nile to develop additional cardholder incentives and marketing efforts through advanced analytics capabilities, as well as direct mail and email, web, and mobile channels.

Jewelry e-tailer Blue Nile plans to offer a private credit card, according to a statement from the card provider Alliance Data System.

JCK Staff

AGS Conclave: Small Businesses Must Market Smarter

dford — Thu, 10 May 2012 16:30:00 +0000

Companies today need to take a more systematic approach to marketing, John Jantsch, author of Duct Tape Marketing, said in an April 27 seminar on “The Seven Steps to Small Business Marketing Success” at the American Gem Society Conclave in Miami.

“Very few business owners have a real marketing strategy,” he said. “If we take a systematic approach, we don’t fall prey to the idea of the week. That’s a danger of a conference like this, someone says you have to go on Facebook, and everyone goes on Facebook.”

JCK Staff

Diamond Empowerment Fund Raises Awareness for Educational Initiatives

dford — Thu, 10 May 2012 15:15:51 +0000

The Diamond Empowerment Fund hosted a Diamonds at the W party on April 26 at the W Hotel in Miami to raise awareness for its educational initiatives.

During the event, held during the American Gem Society’s Conclave, DEF ran a Raffle for Education to support beneficiaries such as CIDA City Campus, the African Leadership Academy, and the Botswana Top Achievers program. DEF also shared its raffle proceeds with Jewelers for Children.

The Diamond Empowerment Fund hosted a Diamonds at the W party at the W Hotel in Miami to raise awareness for its educational initiatives.

JCK Staff

Birks Unveils Recipients of the Birks Canadian Diamond

dford — Thu, 10 May 2012 15:14:00 +0000

Birks announced that actresses Sarah Gadon and Emily Hampshire will receive the inaugural Birks Canadian Diamond trophy in honor of their accomplishments in the film industry.

Birks announced that actresses Sarah Gadon and Emily Hampshire will receive the inaugural Birks Canadian Diamond trophy in honor of their accomplishments in the film industry.

JCK Staff

Tips for Jewelers on How to Develop a Strong Digital Marketing Strategy

dford — Thu, 10 May 2012 14:50:47 +0000

If you don’t already have a digital marketing strategy, you’ve at least heard the term. But, like many buzzy tech phrases, it can have various meanings. For some, erecting a website constitutes having a digital strategy, while others equate it solely with social media outreach.

According to Matt McFadden, who’s created digital strategies for jewelry retailers including James Free Jewelers in Dayton, Ohio, a strong digital marketing strategy includes both endeavors—but only for starters.

As director of marketing and an account manager for Merge, a digital strategy firm based in Greenville, S.C., Matt McFadden assesses the business goals of companies, then develops Web-based products and campaigns that fill in the gaps.

JCK Staff