Dec 27, 2007

Times watches, sterling silver jewelry were big sellers

Amazon.com, Inc. said Wednesday that the 2007 holiday season finished as its best ever, with its busiest day being Dec. 10. On that day, Amazon customers ordered more than 5.4 million items, which is 62.5 items per second.


Jewelry top sellers included sterling silver open double flower pendant, sterling silver Filigree circle pendant, and 14k yellow gold four prong oval peridot stud earrings.


Top-selling watches included the Timex heart rate monitor watch, LEGO Kids' Star Wars Darth Vader watch, and Skagen women's Silver Dial mesh bracelet watch.


The Seattle-based Internet retailer did not release sales figures for its separate categories. Its results are worldwide and include www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.fr, www.amazon.co.jp, and www.amazon.ca. Other highlights of the 2007 holiday season include:


* Shipping more than 99 percent of orders in time to meet holiday deadlines worldwide.


* Fulfilling more than 3.9 million units worldwide on the peak day this season.


* Shipping to more than 200 countries for the season.


* Extending its "One-Day Shipping" program an extra day through Dec. 23 for its "Prime" members.
Source: jckonline

Boxing Day bargain hunters hit jewelry auction


Edmonton's real Boxing Day bargain hunters were the ones with the twinkle in their eyes as they bid on diamond jewelry and even a Mercedes Benz at the Westin Hotel yesterday afternoon.


Staged by Federal Auction Service, the event featured rings, necklaces and watches seized by Ontario authorities - and attracted bidders ranging from return customers to outright rookies.


"I haven't been to one of these before, so I thought I'd check it out," Edmontonian Larry Hannah said with a smile. "If I see something I like, I'll bid, but I'm not counting on anything.


"It's more out of curiosity, and maybe a Boxing Day bargain, that I'm here."


There were plenty of bargains to be had for those willing to shell out hundreds, thousands and even tens of thousands of dollars to land them.


Among the first items on the block, a strand of pearls appraised at $1,400, sold for $200, a $7,000 diamond and sapphire necklace rang in at $1,750 and a man's emerald ring valued at $8,000 went for a song, or $1,100.


The new owner of the 2007 Mercedes Benz S550 won't be known for a couple of weeks, however. As auctioneer Kash Khan explained, Federal Auction Service, based in Toronto and Vancouver, is accepting bids nationwide.


Bidders were also paying plenty of attention to another rare gem at yesterday's auction: a gold ring set with a pink diamond from Australia and appraised at a breathtaking $290,000 - and rising.


The pink diamond ring went unsold.
Source: edmontonsun

Jewelry shoppers take their sweet time

Procrastinating shoppers, particularly men, made for a busy few days before Christmas for most of the jewelers who spoke to National Jeweler today, ending the holiday season on a relatively positive sales note.

At Barnes Jewelry in Amarillo, Texas, General Manager Jeff Fox said he was "very busy" the weekend before Christmas and on Christmas Eve.

During this time, he estimates that 90 percent of his customers were men.

"I think, traditionally, the men wait until the last minute," Fox said.

Similarly, Evan James Deutsch of Evan James Ltd. in Brattleboro, Vt., reported that his store did an entire days' worth of business on Sunday, despite being open only six hours.

He also said Christmas Eve was one of the store's biggest days ever.

"Because jewelry is an impulse item, the guys wait until the last minute," Deutsch said.

Richard T. Velayo of Gleim Jewelers in Palo Alto, Calif., said his store witnessed a relatively late rush, with sales hitting the hardest seven days before Christmas, and then onward through Christmas Eve.

John Anshus of Anshus Jewelers in Menomonie, Wisc., also closed most of his major holiday sales at the last minute.

"Most sales occurred just two weeks shy of Christmas," he said.

This shopping pattern mirrors a national trend, a recent survey shows.

From Dec. 13-16, the International Council of Shopping Centers asked 1,005 households how much of their holiday gift buying they had completed.

Of those surveyed, 50 percent had completed half or most of their holiday shopping by the end of this time period, and only 20 percent said they had all of their Christmas shopping done.

The No. 1 reason for waiting: having the weekend before Christmas to shop, according to 67 percent of those surveyed.

Other reasons included the perception of having more time—there were 32 days between Christmas and Thanksgiving this year—and the popularity of gift cards.

Some 52 percent of respondents said they felt they could wait until the last minute because they were buying gift cards.

Overall, sales for the year were all over the board for retail jewelers across the country.

Deutsch said sales at Evan James were flat, as were sales at Castiglione Jewelers in Gloversville, N.Y., and at Brevelle's Jewelry in Lafayette, La.

But sales were up for 2007 at Allen's Jewelers in Albany, Ga., at Barnes Jewelry and at Anshus Jewelers.

Anshus said his store did quite well this holiday season, matching last year's results, which was one of the store's biggest years.

"We're very happy," he said.

Anshus said bracelets moved well, but pendants took over in sales with earrings to match.

Steven Goldfarb of Alvin Goldfarb Jewelers in Bellevue, Wash., also said he's pleased with sales.

"We're slightly up from last year," he said.

Goldfarb said watches sold well as did earrings and bracelets, but that he was a little disappointed in overall jewelry sales. Bridal was steady he added, but not explosive.

Further, Goldfarb said he sold less big-ticket items this year and more moderately priced items.

At Farmer's Jewelry in Lexington, Ky., owner Bill Farmer Jr. said ancient coins received strong attention from buyers.

His sales results this year were average, so Farmer Jr. said he'll get no rest.

"We worked hard and now we get to work hard again," he said.

Looking ahead to 2008, Farmer Jr. said he is optimistic for next year, and that he's already done well with trade-ups thus far.

Louis Castiglione of Castiglione Jewelers, however, said he's concerned about how increasing economic pressures will affect consumers in the coming year.

He said he saw more credit cards than ever used this holiday season.

"I've never noticed that so much before," he said. "People do not have the spending power they used to have. It makes me wonder what the next year is going to be."
Source: nationaljewelernetwork

Handmade gold jewellery to feature in Colorado

This month will see a selection of handmade gold jewellery go on display at the Vail Valley art galleries in Colorado.

The designs by Dhylan Sherri will take centre stage at the galleries located in the mountainous landscapes of Colorado, reports Vail Daily.

Her 24 carat gold jewellery is made on the island of Maui and almost all her pieces are blended with gemstones, beads and pearls as well as incorporating ancient symbols and styles.

Ms Sherri illustrates herself that the first jewellers were craftsmen and metalsmiths with each piece made by hand and shaped out of metal and stones.

She continues to explain that in more modern ages the jeweller's craft became more specialised and casting started to replace hand fabrication.

However, Ms Sherri adds: "I make all of my jewellery myself, in 24 carat gold with natural stones… I hand-fabricate my work with the exceptional cast bead or found object."

It was revealed this week that a well-known Dubai-based bazaar is to offer a wide range of gold items at next year's Dubai Shopping Festival.
Source: gold

Israel to Participate in Macau Fair

The Israeli Diamond Industry will participate at the Macau Jewelry and Watch Fair, which will take place for the first time on Jan. 10-13, 2008, at the Cotai Strip Convention and Exhibition Center at the Venetian Macao.


More than 50 Israeli companies will be exhibiting at the show, with 37 companies taking part in the Israel Diamond Pavilion hosted by the Israel Diamond Institute. The show is expected to attract Chinese buyers, and the Israeli participation in this show is due to the great interest of the Israeli Diamond Industry in reaching out to the Chinese market.


IDI will be the official host of the fair’s opening reception on Jan. 10, together with CMP, the show's organizers.


Several months ago the Israeli Diamond Industry affirmed China as its top priority and embarked on a multi-pronged strategy to strengthen its ties between the Israeli and Chinese diamond industries. To that end, IDI opened a representative office in Hong Kong IDI Asia Pacific Limited in July, and launched a comprehensive portal site in Chinese, geared to the needs of the Chinese diamond and jewelry industry.
Source: jckonline

India : Hallmarking marks upheaval in jewelry industry

Under the shelter of the All India Gems and Jewellery Traders Federation, members of all the 15 associate bodies across India observed an unsounded protest against the implementation of Hallmarking Act on December 26.

The Government has been accused for not taking the jewelers into confidence while drafting the act, and now again while it is implementing it. Hallmarks are essentially a guarantee mark on jewelry testifying its purity and the Central Government has already made it mandatory. It will start implementing the Act in the four metros of India and then enforce the same in the rest of the cities.

Housing nearly 35,000 outlets in the four cities, the Act will be imposed with effect from January 1, 2008. Traders are expressing dissent over compulsory licensing for retailers on grounds of implementing the Act without establishing adequate testing centers, not providing exemptions, following practices of the West which is unrealistic and finally excessive penal provisions without providing means for petition.

On an average, the four metropolitan cities will require around 500 testing centers whereas the Government is all set to implement the Act with mere 25 testing center facilities. With the day approaching nearer, there’s hardly any hope that alteration would be brought about to pacify the traders.
Source: fibre2fashion

Landmark Jewelry Store To Close

The owner of a landmark jewelry store in Macomb County said she is forced to close the doors because of a struggling economy.


After nearly 88 years, A.E. Schunke House of Diamonds, on North Walnut Street in Mount Clemens, is going out of business.


"It used to be really busy and you knew everyone in town," said owner Sue Schunke.


"The economy is different, people are different and everything changes."


Schunke continued to operate the family-owned business after her husband, Alfred "Al" Schunke Jr., died in 2003.


"It's time," Sue told the Macomb Daily. "It's not something I want to do, but it has to be done."


The family moved to Mount Clemens in 1917, and in 1920 it opened its first store. Since then the business moved several times, but in the 88 years it has been in business, their commitment to customer service has never changed, customers say.


A long-time patron told The Macomb Daily that the closing of A.E. Schunke will be a big loss to the city. He said that the owners had always demonstrated a commitment to quality merchandise and had great customer service.


"It's like a mom-and-pop store," said 10-year customer Norma Godfrey. "She knows everyone by name, just like 'Cheers.' It just feels homey? You don't get too much of that everywhere."


Schunke said that although she is closing the doors, she will never forget the great memories she has had there.


Schunke told The Macomb Daily that among her favorite memories was when her husband and others stood outside of the downtown Mount Clemens stores to watch presidential candidate John F. Kennedy stroll through the town on a campaign stop.


She said Kennedy asked for her husband's watch and he gave it to him, because Kennedy's watch wasn't working.


Schunke has marked everything in the store 20 to 60 percent off until she closes its doors on Jan. 31.
Source: yahoo

Dominican customs set new regulations for jewelry export


The Customs Department (DGA) is warning that anyone wanting to take jewelry or components out of the country needs to present an Single Customs Declaration (DUA in Spanish) export form 24 hours in advance.

Customs says that as well as the declaration, people will need to show receipts or documents proving that the merchandise was legally acquired, in keeping with article 167 of Law No. 3489 on Customs Regime.


They will also need to show where they received financing for purchasing the merchandise on the local market.


The DGA says that the measure is being taken because of suspected money laundering and other illegal activities using jewelry exports.


“The Customs Department notes with concern that lately people have been exporting jewelry and components to the United States in an unregulated manner, against the law, so the DGA has taken steps to prevent that money is laundered in this way, in violation of Law 72-02 and article 200 of Law 3489, modified by Law 226-06 that establishes the DGA’s autonomy”, said a statement from the Customs Department.


Customs went on to say that the measure seeks to prevent money laundering linked to drug trafficking and terrorist funding, as established by international conventions, so people must be able to show how they financed the purchase.


The department added that the measure also ensures that the transport of assets is regulated, and that the acquisition of money in the banking system also has to fulfill a series of regulations that establish the sources, as the DGA suspects that the purchase of these jewels for export is a way of laundering money.
Source: dominicantoday

Jewelry allowed Moroccan immigrant to start new life

Jewelry has always adorned Nathalie Rachel Sherman's life. It sustains her Encinitas jewelry design business, provides a creative outlet and, in a way, helped shape her destiny.

As a 6-year-old from Marrakech, Sherman immigrated with her parents to Los Angeles in 1973, fleeing the anti-Semitism that reduced Morocco's post-World War II Jewish population of 225,000 to its present 5,000 to 6,000.


To fund that flight and the subsequent rebuilding of their lives, Sherman's parents had to circumvent Morocco's strict currency laws, which forbid taking dirhams in or out of the country.


So her parents converted all the cash they could into jewelry, which visiting family members periodically wore out of Morocco and stockpiled, to be reconverted into cash once the family made it to the United States.


“That's how we started life here – literally, with bangle bracelets,” said Sherman, whose Sophia & Chloe jewelry line is sold in 400 stores, boutiques and catalogs in 35 states and eight countries.


Paying homage to her parents and heritage, Sherman designed a jewelry series called Rock the Casbah, based on Moroccan henna tattoos, whose arabesque designs amount to a symbolic language.


Even her serious-minded father, who died this year, had to smile.


“My parents were huge on education. Their feeling was that if you are lucky enough to get one, you better do something serious with it – which didn't include 'art' things like what I do now,” Sherman said with a laugh.


“But my dad really liked it. It took a long time for him to wrap his mind around it, but once he saw what was happening, saw the catalogs and the pieces, he thought it was cool.”


Sherman's light, sometimes whimsical, jewelry, which utilizes both wire-wrap and traditional casting techniques, is made with semiprecious stones, freshwater pearls, gold and silver. Prices range from $48 for a pair of earrings to $900 for certain necklaces.


Today, she sells about 500 pieces per month, and her designs have been featured in national and regional magazines, including InStyle, Modern Bride, California Apparel News and Riviera Magazine.


Though Sherman said she was always a design “doodler,” she planned to be an attorney. But law school was sidelined by a car accident, and while Sherman recovered, she took a temporary job as a paralegal.


The experience taught her that she didn't want to be a lawyer. Instead, she carried on as a paralegal until 1997, when she gave birth to her first daughter, Sophia, and began her jewelry “hobby.”


By 1999, when her second daughter, Chloe, was born, Sherman had a full-fledged business – and the joint inspiration behind her business's name – on her hands.


Things accelerated in 2003, when Sherman was accepted to New York's prestigious ENK accessory trade show, which features more than 500 designers and attracts jewelry buyers from all over the world.


“It is tough to get accepted. You have to submit your designs to a jury, so I was fully expecting not to get an invitation,” Sherman said. “But before I knew it I was on my way to New York, scared out of my mind.”


Sherman needn't have worried, her loyal clients say.


“I go to all the jewelry trade shows and everything looks the same – I mean, how many turquoise single-strand necklaces can you possibly buy?” said Paula Gould, owner of Gale Grant, a New York City boutique that carries the Sophia & Chloe line. “But Nathalie's pieces are totally different, very unique, and the quality is fabulous.”
Source: signonsandiego

Journeys in downtown Lewes offers new line of jewelry

Journeys in Lewes is offering two new exclusive lines of handcrafted jewelry. Since jeweler Christopher Hahs has joined the staff, Journeys has expanded a line of his spiral pieces.


The spiral is the symbol of the store, said owner Roni LaVache. It is an ancient symbol of many meanings. It signifies the cycle of life, the connection between heaven and earth, knowledge of the self and spiritual growth, she said.


LaVache is excited to have Hahs on board and to be able to offer his spiral variations. “He really is an incredible jeweler,” she said. The two met four years ago after LaVache saw a women wearing one of Hahs’ necklaces and asked who had made it. “I was stunned by it; it was gorgeous,” LaVache said. At that time, the store needed a jeweler to work on a line of jewelry centered on its signature symbol. Hahs began with simple spirals but has begun to create new and different ways to incorporate them into bracelets and necklaces.


Each piece is handmade, so while some may be similar in design, each piece is entirely unique.


Hahs has more than 16 years’ experience as a jeweler, completing an apprenticeship at Stuart Kingston Gallery in Wilmington and later working with other jewelry artists to learn different techniques. Among them is a folk method for making jewelry out of sheets of metal and wires from an artist who had studied in Europe.


In addition to Hahs’ work, Journeys is offering a line of jewelry called Be, created by LaVache and her partner Sarah-Jean Douglas, both of whom are learning silversmithing. The Be line is crafted from precious-metals clay. The artists form the pieces working as they would with clay. After the piece is fired, it emerges from the kiln as 99.9 percent sterling silver. “The theme of Be is: Don’t strive for perfection, just strive to be,” said LaVache.


Hahs said he enjoys working in Lewes. “In this small-town setting, you depend on the community and what you put back into it. This store is based on friendship when clients walk in the door, not on sales,” he said.


Hahs is available for all types of jewelry repair, including platinum and gold pieces. He can also custom-design jewelry and incorporate stones as well.
Source: capegazette

Dec 25, 2007

Simmons Jewelry launches 'Green' campaign










Kimora Lee Simmons models Simmons Jewelry Co.'s "Green Bracelets" in the company's new ad campaign.

Simmons Jewelry Co., co-owned by Russell and Kimora Lee Simmons, has launched a new ad campaign in support of the company's Green Initiative collection.

The campaign, which premiered in the July issues of Vanity Fair and Ebony, features Kimora with her arms covered in the company's "Green Bracelets." The tagline reads: "Green: Empower Yourself Through Others."

The Green Initiative collection stems from Russell Simmons' recent journey to Africa to see how diamonds empower Africans. The Green Bracelets are made from green malachite and rough, African diamonds that are Kimberley Process-compliant. Half of the net profits from sales of the bracelets will benefit Simmons' Diamond Empowerment Fund (D.E.F.), an international, nonprofit organization that aims to raise money for educational programs in Africa. In addition, a quarter of the profits from sales of Green Initiative jewelry will go to the D.E.F.

The Green Bracelet has already appeared on a host of celebrities, including Penelope Cruz, Beyoncé Knowles and Naomi Campbell.
Source: nationaljewelernetwork

Jewelry down, furniture up this season

Early online shopping statistics suggest this year's U.S. holiday shoppers bypassed jewelry, watches and flowers in favor of furniture and appliances.

Andrew Lipsman, an analyst with comScore Networks, which analyzes online shopping by U.S. consumers, said holiday season furniture and appliance sales rose about 70 percent over last year's levels, while sales of holiday mainstays such as watches and jewelry fell, The New York Times reported Tuesday.

Lipsman did not say how far jewelry sales slipped from last year's levels because he said the figure could be changed significantly by a few large purchases.

"Some of the bigger losers were luxury goods," he said. "In better economic conditions, that category was growing faster."

Carl Prindle, chief executive of Waltham, Mass., based Furniture.com, which oversees online sales for regional furniture companies, said holiday season sales this year rose 110 percent over 2006 levels.

"It's certainly counter to our expectations," Prindle said. "Maybe it's people within a family saying we're not going to waste money on things that aren't meaningful."

Source: upi

PNJ opens jewelry store at New World











A PNJ staff member (L)introduces the high-class CAO jewelry items to the first guests visiting the store in the New World Hotel



Phu Nhuan Jewelry Joint Stock Company yesterday opened a jewelry store in the midtown New World Hotel, displaying CAO-branded products.


This is the fifth store under the brand CAO Fine Jewelry, and the second one in high-class hotels after the first one opened at the Legend Hotel on Ton Duc Thang Street early this year.


PNJ general director Cao Thi Ngoc Dung said the company was looking to open more CAO stores in five-star hotels to introduce the high-quality jewelry items to international guests in a bid to promote the brand on the regional and world markets.


The bullion trader and jewelry producer this year expects total revenue of VND2.11 trillion, or some US$132 million, including VND128 billion in pre-tax profit.


PNJ will seek to enter new markets to double its exports to 300,000 products. Nguyen Vu Phan, deputy general director of the company, told the Daily that PNJ shipments this year were forecast to amount to some 150,000 products, with Germany and the U.S. being among its traditional export markets. Next year the company will find ways to export to European markets like Denmark, Belgium and France, Phan said.


On the domestic front, the company’s sales have totaled some two million products in the year to date and the figure is forecast to grow 30% next year.


PNJ is among the ten companies that have received the Vietnam Quality Awards 2007 early this month from the Ministry of Science and Technology.
Source: saigotimes

Dec 23, 2007

Heidi Klum sued by Luxury jeweler


Heidi Klum walks the runway at the Victoria's Secret Fashion Show 2007 in Hollywood.

Luxury jeweler Van Cleef and Arpels sued German supermodel and television star Heidi Klum's company on Friday, claiming she copied a vintage clover jewelry design.


The suit, filed in Manhattan federal court, seeks more than $25,000 in damages from Klum's company Heidi Klum GmbH and Mouawad USA, another company she has designed jewelry for.


It said both companies attempted to gain benefit from Van Cleef's esteemed reputation by creating and selling a similar clover design from Van Cleef's vintage Alhambra jewelry line.


Van Cleef & Arpels Inc is owned by luxury goods group Richemont.


Klum is married to British singer Seal and has three children. She hosts the Bravo reality cable television show "Project Runway," which features aspiring designers vying for a chance to get a start in the fashion world.


She gained fame in the late 1990s modeling lingerie for retailer Victoria's Secret and swimsuits, most notably on the cover of Sports Illustrated magazine's popular swimsuit edition.
Source: chinadaily

Cindy Forrester's jewelry gives new life to old pieces


Cindy Forrester has always had the drive to create. As a child, she did drawings and paintings, but she recently discovered altered art and uses vintage and antique objects of almost any material imaginable to make one-of-a-kind pieces of jewelry.

"I was browsing through an issue of Belle Armoire magazine one day and read about a lady who made jewelry from altered and discarded pieces," Forrester said. "I was fascinated and thought I'd give it a try." She started her Deltona business, Cindy Forrester's Designs, in July.

That same magazine, which gave her the inspiration for her "serious hobby," as she calls it, featured her work in its November/December issue. The article, "Altered Vintage Jewelry," pictured three pieces of her jewelry, and she sold all three.

The list of materials Forrester uses to make earrings, necklaces, bracelets and pins is endless. Her creations are formed from semiprecious stones, cameos, old religious metals, rosaries, chains, pieces of antique Bibles, chandelier crystals, old pocket watches, doll heads and tintype photos, to name just a few.

When not working as a claims adjuster for an insurance company, Forrester is searching for items to incorporate into her pieces.

"I shop on eBay, Etsy, which is a Web site to buy and sell objects and materials for handmade items, and visit antique stores," she said. "Often friends give me some of their pieces. I like to produce jewelry that looks old and vintage, and I give each a special name."

Forrester sells her jewelry on her Web site, cindyforrester.etsy.com. Prices range from $35 to $135 with earrings costing from $15 to $32.

One of her recent pieces, "Almost Heaven," is a 17-inch necklace of vintage rhinestones, pearls, topaz and garnet stones. For a pendant, she attached a tintype photo of a young lady, cutting it to size, backing it with a piece of crocheted lace and enclosing it in glass. She took the words "heaven" and "angel" from an 1800 German-English dictionary and put them at the bottom of the pendant.

It took her two hours to make, and it sells for $135.

Though concentrating on jewelry since July, Forrester still enjoys her acrylic paintings, and they have not been ignored.

She painted a portrait for country music singer Ricky Van Shelton and a picture of NASCAR driver Stacy Compton standing by his truck with the grandstand in the background.

Other individuals and corporations have commissioned her for her artwork and murals.

Looking toward the future, Forrester is considering doing shows and putting her jewelry in boutiques.

She also is looking into doing miniature paintings, making pendants for necklaces.
Source: orlandosentinel

Stores open with air of uncertainty


The financially beleaguered Alpha Omega Jewelry chain reopened two of its four upscale stores under new management yesterday afternoon after the company's founder, Raman Handa, disappeared last week and the shops closed for business five days before Christmas.

After making an inventory of all items in the glitzy stores in Harvard Square and the Prudential Building in the morning, teams of smiling managers and business consultants opened the doors of both shops at 2 p.m. The stores in the Burlington Mall and the Natick Collection mall are expected to open about noon today, said Michael O'Hara, an investment banker who now manages Alpha Omega.


As holiday shoppers browsed - a student looking for a Swatch to give his friend; a young couple looking for an engagement ring - the company staff spent the afternoon trying to assuage the fears of customers who had made deposits or left jewelry and watches for repair, and reassure employees who had been told Friday they were fired, but were rehired yesterday.


"That's all what it's all about today: just trying to please people, make them feel secure," said Mark Robinson, a specialist hired to help restructure the business, who dashed about the company's flagship store in Harvard Square, chatting with employees and customers. "I actually don't care if we sell anything today."


But the shock of finding the store inexplicably closed for two days, and the air of uncertainty that remains about the location of the Handas, who are said to be in their native India, and the future of the chain's ownership worried some cus tomers.


"I wouldn't buy anything here," said Paul Harris of Newton, who had come to check on the status of his wife's Baume & Mercier watch he had dropped off for minor repairs three weeks ago. "People go out of business, but that's not the way to do it. You don't leave people in a lurch."


Many employees said they felt bitter about the way the Handas left and had the stores closed without any explanation.


"Maybe the owner is [under] extreme stress; I understand that. But I wish he [would] stand next to us," said Sara Kebabjian, who has sold jewelry at the store for five years. She said she felt unsure about the business and her status.


"Today we are here, we don't know about tomorrow," Kebabjian said. "We're going to see day-to-day. [What the] future brings, nobody knows."


"It's just been a lot of confusion, being very unsure about what your position is and whether you want to stay," said one employee, who asked that his name not be published because he was planning to quit. "There's so much lying going on. It's just something I don't want to get myself involved in."


Peter Livingstone, a watch collector from Concord, had come to check on the status of his order for a $460,000 A. Lange & Söhne Tourbograph watch, a built-to- order item for which he had left a deposit several weeks ago, and which he is expecting to receive within a year.


After a long conversation with a salesman, Livingstone was not convinced that his deposit to Alpha Omega guarantees he will get the watch.


"I bought the most expensive item in this store," Livingstone said. "I have to wait and see on that deal."


O'Hara, who manages the company under a new agreement between the Cambridge-based company's lawyers and the bank that seized its assets, said he was unsure about the whereabouts of owners Handa and his wife, Nilma, who remain directors of the company for now. O'Hara said he was told they were in India. O'Hara also said he was talking to potential buyers for the business.


The Handas, who have been struggling with financial problems, disappeared without notifying business associates or friends. Their stores closed after representatives of the bank that controls Alpha Omega's assets, the LaSalle Business Credit arm of Bank of America Corp., took possession of the company's inventory last week.


Some customers and employees appeared happy, though, yesterday. Mikhail Panko, 23, an exchange student from Russia, was relieved to find the Cambridge store open - and the engagement ring he had ordered ready for him to pick up.


Panko is planning to propose to Maria Maslova on Christmas Eve, and had prepaid for the ring last week.


But when he arrived at the store Thursday to pick up the ring, he found the doors shut, the store website down, and the answering machine not taking messages.


"I was really scared," said Panko. "I mentally had written off the money."
Source: boston

Magnetic jewelry an overlooked danger

The federal government brands magnets in toys a deadly hazard to children because the tiny, powerful objects can fall out and cause serious, even fatal, internal injuries when swallowed.

Yet the Consumer Product Safety Commission has not taken steps to regulate even more powerful magnets when they are sold in loose form as backings on children's earrings, the Tribune has found.

The earrings consist of a small decorative part -- such as a cupcake, a faux diamond, a dolphin -- with a magnet inside. They are held in place by putting a loose magnet behind the earlobe.

Independent tests of more than a dozen magnetic earrings done for the Tribune showed that the earring magnets all were at least as powerful as magnets found inside toys that have caused the death of one child and scores of other injuries. Some of the magnetic earrings were more than five times more powerful.

But because the earrings are not considered toys, new regulations for magnets do not apply. If they did, the jewelry could not be legally sold, according to a CPSC spokesman, Scott Wolfson.

The Tribune found reports of more than two dozen instances in the U.S. and Europe in recent years where magnets from earrings have been swallowed, aspirated into the lungs or become stuck together on either side of a child's nose cartilage. Those youngsters had used the earrings to mimic nose, tongue and even navel piercings.

Most of these injuries did not result in hospitalizations. But, given the precedent of serious injuries caused by magnets in toys, some leading physicians are wondering why the CPSC is not taking action anyway.

"It's clear what the risks of magnets are," said Dr. Garry Gardner, a physician from suburban Darien who is chairman of the American Academy of Pediatrics' committee on injury, violence and poison prevention. "I don't care whether they call it a toy or not, these are still a risk. Any magnet that can be aspirated or swallowed is dangerous."

But the CPSC says it has not received enough reports of injuries linked to magnets in jewelry to warrant further action at this time. The agency's national injury database shows there were seven such incidents from 2002 to 2004 and none in the following two years. (Data for 2007 are unavailable.) One incident in 2003 required the child, a 2-year-old boy, to be hospitalized.

"The number of incidents compared to the number of products is very low," said Julie Vallese, spokeswoman for the CPSC. "The known risk has not risen to a substantial product hazard."

But even a toy industry official expressed concern about the jewelry.

"We should not have to wait for catastrophic incidents to address it," said Arthur Kazianis, vice president of quality assurance for Hasbro Inc. and the head of a private panel that is developing standards for magnets in toys.

For years the CPSC had received reports of children injured after swallowing magnets that fell out of toys, but not until a child died in 2005 after ingesting magnets from a Magnetix building set did the agency move to recall the product and push for tougher standards. Following a Tribune investigation of Magnetix and the agency's slow response, published in May, the CPSC expanded its recall and in August added magnets as No. 1 on its list of top five "home hazards." Its news release noted that such magnets "can be very small and powerful making them popular in toys, building sets, and jewelry." But that's as far as the agency has gone to address magnetic jewelry.

In that release, the CPSC also noted that injuries from ingesting magnets are "hard to diagnose. Parents and physicians may think that the materials will pass through the child without consequence, but magnets can attract in the body and twist or pinch the intestines, causing holes, blockages, infection, and death, if not treated properly and promptly."

Doctor: 'It is a hazard'

Dr. Marsha Kay, a pediatric gastroenterologist at The Cleveland Clinic who has written about the dangers of magnets, said she considers magnetic earrings to be as big a threat to child safety as magnets in toys.

"These things are marketed for kids, and it is a hazard," she said. "How many kids have to get hurt before someone pays attention to it?"

Just as with magnetic toys, Kay said, a danger is that older children will play with the product and leave behind magnets that younger children can swallow.

A new industry standard taking effect next month calls for warning labels on toys that include magnets and are small enough to be swallowed. Already, many magnetic toys include warnings about the danger of internal injuries. In addition, the new standard requires all toys with magnets to undergo tests to ensure the magnets won't fall out with regular use.

The new standard does not apply to magnetic jewelry, even if it is marketed to children.

"Magnetic jewelry has come up and we have talked about it, but our commission is focused on toys," Kazianis said. "A toy has play value. A piece of jewelry does not. It appears to fall through the cracks.

"It's possible that the jewelry industry could follow our standards for toys," he added. "I have repeatedly stated we need to figure out a way to communicate to them."

Michael Gale, spokesman for the Fashion Jewelry Trade Association, said he did not believe magnetic jewelry is dangerous.

"Anything that could affect the safety of children is a concern to the fashion jewelry industry," he said. "I am not aware of any cases of magnets associated with jewelry" causing any injuries.

The new magnetic toy standard applies to magnets that have a "flux index," the measure of its power, of 50 and higher.

The Tribune asked Joe DiMarco, an engineering physicist at the Fermi National Accelerator Laboratory in Batavia, to test the magnetic earrings as well as the type of Magnetix toys blamed for the death of Kenny Sweet on Thanksgiving Day 2005.

The tests showed the magnets from a Magnetix toy had a flux index of just above 50. The tests of the magnetic earrings showed a flux index on all of them above 50, and most were above 100 -- more than twice as powerful as the Magnetix.

Magnetic earrings sold by Schylling, a Massachusetts toy firm, had a flux index of more than 100, the Fermi tests found. The magnetic earrings carry a choking warning for children under age 3, but no other warnings. The earring packaging states that they are for ages "5+."

Schylling did not return telephone calls.

Earrings sold by Claire's also tested well above the toy standard of 50 and in one case was more than five times higher than the toy standard. Claire's did not return calls seeking comment.

DiMarco noted that the flux index increases when more than two magnets get stuck together. "If you combine more than a couple of these together, you could easily get something much worse."

One brand, Magna Stud, sold by BeWild.com, carries a warning against use by anyone under age 13 and warns specifically that the jewelry poses "an inhalation and aspiration hazard. ... Keep out of reach of infants." The jewelry also warns against wearing more than one magnet in the nose.

Brian Cohen, owner of BeWild.com, said he had never noticed the warning until the Tribune brought it to his attention. "Somebody wanted to make sure nobody got injured," he said. "Anything small like this should be kept away from kids, and magnets make it worse."

Complaints to the CPSC about magnetic jewelry include one incident that sent a 2-yar-old boy to the hospital after swallowing a magnetic earring. Other incidents involved boys and girls ranging from 8 to 13 years old. One 13-year-old boy used magnet jewelry to mimic a tongue piercing and swallowed the magnet. A 13-year-old girl "sniffed magnet earring backs into nose," according to the agency's database.

Dangerous inside nose

Dr. Anthony Magit, a pediatric otolaryngologist in California, described how quickly a child can be injured.

"The magnets are fairly strong and instead of just holding the earrings on the outside of both sides of the nose, they pull together and get embedded in the septum and they can't get them out," he said. "It can happen in a day. The magnets burrow into the septum and cannot be pulled apart. They are so strong, you have to take them to the hospital to get them removed.

"There needs to be a warning."

The CPSC was informed earlier this year of the medical community's concerns about magnets -- in toys as well as jewelry -- when Dr. Alan Oestreich, a pediatric radiologist at Cincinnati Children's Hospital Medical Center, addressed an agency symposium.

"I emphasized that it was not just magnetic toys, but magnets in jewelry," he said in an interview. "I think people should be informed that this is a danger."

Doctors aren't the only ones pressing the CPSC to take further action. When U.S. PIRG, a federation of state public-interest research groups, issued its 2007 toy safety report in November, some magnetic earrings were on its list of dangerous products.

"Our contention is that magnetic jewelry poses the same hazard to children as magnetic toys," said Edmund Mierzwinski, consumer program director and author of the report. "Just because something is not a toy does not mean it's not a hazard. If it's cheap children's jewelry, it's a hazard."

That also is the conclusion of at least one retailer. In the pre-Christmas rush in 2006, Diana Nelson, owner of Kazoo & Co. , a Denver toy store, enthusiastically sold magnetic jewelry, telling an industry publication that magnetic earrings were a top-selling item.

A year later, after becoming aware of the dangers of magnets in toys, Nelson has concluded that magnetic jewelry should not be sold to children.

"We sold a lot of them, but when we sold out, I decided I wouldn't order them again," she said in a recent interview. "They shouldn't be anywhere near little ones."
Source: chicagotribune

Nordstrom Jumps 12% on Earnings

Nordstrom Inc (JWN: chart) reported third quarter sales increase of 5.3% to $1.97 billion compared with $1.87 billion posted in the year ago. Same-store sales increased 2.2 percent in the quarter from the last year.

The department store, however, lowered same-store sales guidance for the fourth quarter to flat from earlier estimates of a 2% to 3% gain, citing lower sales trends.

In September, the National Retail Federation warned that sales growth in the holiday shopping season would hit a five-year low.

Nordstrom said net income jumped 22% to $165.7 million from $135.67 million a year earlier. Earnings surged 30% to 68 cents per share from 52 cents per share last year. Analysts polled by Thomson Financial predicted profits of 52 cents per share.

Nordstrom will pay a quarterly dividend of 14 cents per share.

Included in the results is a gain of $20.9 million or $0.09 per diluted share from the sale of the Faconnable business in the quarter. Excluding these items, earnings per share were up 13% at 59 cents.

The company said the third quarter started later this year and included more high-volume fall shopping days, versus a year ago. This timing shift positively impacted sales results for the third quarter of 2007.

In the quarter, gross profit, as a percent of sales, decreased 38 basis points compared to last year''s third quarter, dragged by higher markdowns on merchandise.

Selling, general and administrative expenses, as a percent to sales, decreased 70 basis points versus the same period 2006 primarily due to reduced performance based incentives.

Nordstrom repurchased approximately 16.4 million shares of its common stock during the third quarter for $750 million.

The board approved an additional $1 billion for stock buy-backs in the quarter, bringing the total for the nine months to $2.5 billion.

After opening three new stores in the third quarter, Nordstrom is planning to spend $3 billion in capital expenditure over the next five years of which eight percent will be used for new store openings.

In the nine months to November 3rd, revenues climbed 6.8% to $6.31 billion from $5.93 billion same period last year.

Earnings rose 12.8% to $502.95 million or $1.98 per share from $445.66 million or $1.67 per share in the year ago quarter.

Nordstrom now expects profits in the fourth quarter between 88 cents and 92 cents per share, down from the previously forecast range of 99 cents to $1.02 per share.

The monthly same-store sales rates in November are expected to be above the anticipated quarterly rate. In December, the monthly same-store sales rate is expected to be below the anticipated quarterly rate.

For the full year, Nordstrom is predicting earnings in the range of $2.78 to $2.82 per share, down from $2.80 to $2.86 per share.

Nordstrom shares soared 12.1% in Tuesday to $34.21 after the department store released its earnings. At the mid-day trading Nordstrom increased $1.02 to $35.23. Over the last 52 weeks, Nordstrom has traded in the range $30.36 to $59.70.

Analysts estimate fourth quarter earnings of 94 cents per share and $2.76 per share for the fiscal 2007.


Wal-Mart Stores, Inc reported last week third quarter net sales increased 8.8% to $90.9 billion from $83.5 billion from a year ago. Net income from continuing operations rose 7.9% to $2.86 billion from $1.65 billion a year earlier.

Nordstrom, Inc operates 157 stores located in 28 states in the U.S. The company also runs 101 full-line stores, 51 Nordstrom Racks, two Jeffrey boutiques, one free-standing shoe store, and two clearance stores.
Source: 123jump

Men prefer jewelry from their honeys

Buzz surrounding men's jewelry has been circulating for some time now, with designer brands such as David Yurman and Chris Aire, and retailers including South Florida's King Jewelers expanding their men's offerings.

But now, a new survey, conducted by Harris Interactive and commissioned by SHR/Simmons Jewelry Group, is attaching figures to the buzz and delving into the attitudes of adults in the United States toward men wearing fine and fashion jewelry—excluding more traditional items such as wedding bands, watches and cuff links.

The online survey of 2,327 adults (1,052 men and 1,275 women), conducted over two days in November, found that while the percentage of men who currently wear jewelry is less than half (41 percent), 60 percent of men said they would consider wearing jewelry and accessories outside of the traditional offerings.

Men said they would consider rings (45 percent) over any other piece of jewelry, followed by neck chains (31 percent), pendants (20 percent) and bracelets (16 percent).

Women's desires for what they'd like to see men wear closely mirror men's interests. According to the survey, 40 percent of women would like to see more men wearing jewelry, with the majority (24 percent) indicating they would like to see more men wear rings, followed by neck chains (15 percent). From here, the results diverge, with 13 percent of women saying they'd like to see more men's bracelets and 10 percent indicating they'd like to see more pendants.

According to the survey, these interests matter: The vast majority of men (86 percent) said they would be at least somewhat likely to wear a piece of jewelry given to them by their significant other. In addition, 50 percent of men indicated they would be extremely or very likely to do so.

In terms of age, younger women are more likely to make jewelry purchases for a significant other (72 percent of those ages 18-34 are at least somewhat likely, versus 62 percent of those ages 35-44, 61 percent of those ages 45-54 and 47 percent of those ages 55 and older).

As for those men who choose not to wear jewelry, 42 percent indicated it is because they don't shop for jewelry, and 37 percent said it is because they don't feel comfortable wearing jewelry. A smaller percentage (23 percent) said they are not satisfied with the availability of offerings, and 21 percent said they don't like the way jewelry looks on them.
Source: nationaljewelernetwork

Dec 19, 2007

Forbes Galleries to feature plique-a-jour master










Leila Tai's "Foliage" bracelet in 18-karat gold, white, red and green enamels, and Burmese rubies.

Jewelry artist Leila Tai will be one of the featured fine jewelers at the 2008 Designer Showcase to be launched at The Forbes Galleries in New York City by the National Jewelry Institute.

The exhibit, which will run from April 25 to June 28, will celebrate works of individuality by approximately 25 designers.

Several of Tai's pieces to be exhibited are part of her most recent collection called "Spring," which utilizes the plique-à-jour technique. The technique is a style of enameling in which enamels are fused into the openings of a metal filigree network with no backing, producing an effect that resembles stained glass.

"Each piece is one-of-a-kind, and many offer built-in movement and flexibility," Tai said in a media release. "Aside from the fact that I enjoy the long and focused creation process, this technique gives a realistic edge to my pieces. Creating jewelry as art objects that can be worn is my way of paying tribute to life and all creation."

Tai was born and raised in Beirut, Lebanon, and studied art education at the American University of Beirut. She furthered her studies at the University of Wisconsin in Madison, receiving her master of fine arts degree in metal work. She has also studied with jewelry designers such as the late Donald Clafflin, who was associated with both Tiffany and Bulgari, and Robert Kulicke and Jean Stark, from whom she learned much of her plique-à-jour, cloisonné and granulation techniques.

After several years in the fine-jewelry industry with Gemveto and Van Cleef and Arpels, Tai worked as a full-time designer in the fashion industry, with firms such as Trifari and Monet, and also consulted for Liz Claiborne, among other fashion houses.

She has won numerous industry awards for her own jewelry designs, including the 2007 Niche Awards, an award for work of "exceptional merit" from The Enamelist Society in 2005 and the prestigious Diamonds Today Award in 1995.











Leila Tai's "Blue Iris" earrings in 18-karat gold and blue enamel with aquamarine drops and beads won a 2007 Niche Award.

Tai has also taught courses at the American University, Parson's School of Design, the Pratt Institute and the Revere Academy. She currently teaches jewelry design and rendering at the Fashion Institute of Technology and the Pratt Institute.

For more information about Tai, visit her Web site, Leilataidesign.com.

The Forbes Galleries are located at 62 Fifth Ave. in New York City and are open on Tuesday, Wednesday, Friday and Saturday, from 10 a.m. to 4 p.m. For more information, call (212) 206-5548 or visit The Forbes Galleries Web site, Forbesgalleries.com.
Source: nationaljewelernetwork

DMCC Donates $25,000 to CIBJO

The Dubai Multi Commodities Centre pledged $25,000 to CIBJO, the World Jewellery Confederation, for its growing range of corporate social responsibility initiatives, in line with the educational component of the United Nations Millennium Development Program.


The gift was made during the working visit of CIBJO president Gaetano Cavalieri to Dubai in preparation of the 2008 CIBJO Congress, which will be hosted by the DMCC at the Grosvenor House hotel in Dubai, April 14-16.


"An associate member since its inception, the DMCC has been a staunch supporter of CIBJO and its mission, and this gift is yet another sign of its unwavering support and trust in our organization," Cavalieri said. "As CIBJO's activities in the realm of consumer confidence, social and corporate responsibility, and education are expanding continuously, so are our expenditures. While we run a very tight ship, we do need more funds to finance our work."


The dedicated Web site for the 2008 CIBJO Congress can be accessed through the CIBJO Web site. Delegates and interested parties can view the preliminary congress program, register, book their hotel, and find useful travel information on the site.
Source: jckonline

Dec 17, 2007

Snow not Scrooge for jewelers this season

While retailers and consumers in the Northeast battled the weekend's icy weather, most of the jewelers who spoke to National Jeweler today said they have been unaffected by Mother Nature's wintry wrath so far this holiday season, with business continuing as usual.

Anshus Jewelers in Menomonie, Wis., located east of St. Paul in northern Wisconsin, was too far north to have been affected by the weekend's wintry mix, storeowner John Anshus said.

Anshus described the weekend as overcast, but said in general, "the weather wasn't bothering us."

Anshus said his store had a strong year in 2006, and that the season so far this year is going well.

"I think we're pretty much average," he said. "We're doing as well as expected with today's economy."

Among Anshus Jewelers' most consistent sellers this weekend was gold jewelry. Although this might be surprising given gold's current high price, Anshus attributes the sales to his store being in business for a long time and his stock of gold jewelry in the $300 to $400 price range. Because of this stock, the store can afford to sell at comparatively lower prices.

Further south in Lexington, Ky., Bill Farmer Jr. of Farmer's Jewelry said Midwesterners were hit by a big storm about three years back, so in comparison, the weekend ice storm didn't faze them.

"We got the back edge of it and a lot of worried weathermen," he said.

Farmer said sales for the weekend were consistent in two areas: Honora pearl jewelry and Wideband jewelry, which includes museum-quality replica coin jewelry as well as ancient coin jewelry. Honora sells, Farmer said, because "it's fashion, it's price points, it's easy for people in a certain budget." Farmer said Honora pearls can run anywhere from $20 to $250, while Wideband sells for $200 to $800.

As for the "big stuff," as Farmer put it, diamond studs were hot sellers, with princess cuts moving in addition to rounds.

Over on the West Coast, weather conditions were not an issue for retailers, though the same can't be said for weeks past.

Steven Goldfarb of Alvin Goldfarb Jeweler in Bellevue, Wash., said sales this weekend as compared with last year were very strong.

"Saturday felt like Christmas, finally," he said. "I think people suddenly realized there's only one week left."

While the weather in the Bellevue area over the past few days has been in the 40s with rain showers, it's par for the course in Washington State at this time. Unusually strong rains further south of Bellevue two weeks ago, however, shut down Interstate 5, one of the state's main highways, Goldfarb said. Luckily, the storm didn't cause problems for store traffic.

A year ago, though, it was a windstorm that did some damage to the area, knocking out power. Alvin Goldfarb Jeweler was officially closed for one day, and, in a creative turn, the store held a sale by candlelight the next day.

Goldfarb said the store always does well with watches, but "jewelry started perking up" this past weekend. In particular, more fashionable, micro-pavé pieces sold, as did colored-gemstone jewelry, including sapphire and ruby bracelets, and designer jewelry by Rhonda Faber Green and Roberto Coin.

One request Goldfarb heard often this weekend was for custom pieces.

"We did have a number of people asking, 'I have an idea, I'd like you to make it up.'"

With Christmas only a week away, however, Goldfarb says there's too little time now to take such requests.

In Southern California, with mild temperatures in the 50s, weather problems did not come into play for San Diego's George Carter Jessop Jeweler.

"That's not an issue for me—knock on wood," owner James Jessop said. "Our ability to have shoppers come in and work with us has been pretty fair."

While Jessop said the store has had its share of bad situations, including fallout from the wildfires that hit the region earlier this fall, weather conditions have not had an impact on the current holiday season.

"I feel it has been stronger than years past, or at least we've been busier," he said.

Diamond jewelry did well over the weekend, Jessop said.

"It seems like it's been a good season for me for diamonds by the yard," he said.

Studs were also strong sellers, and Jessop said it's also been a big season for engagement rings.

At B.C. Burke Fine Jewelry in Orland, Maine, owner Georgia Burke said it's been an average year for her store thus far, with winter weather affecting business for just one day. Although her "open" sign was on during a snowstorm, the store pretty much closed down, Burke said.

Lower price-point items aren't selling as well for Burke this holiday season, but higher-priced items are making up for the loss.

Down in Albany, Ga., rain has been a nuisance this winter, but Allen's Jewelers owner Steve Allen said it is actually good for him since customers can drive right up to his stand-alone store.

"I'm right where I was last year," he says, adding he might even be slightly ahead in sales.

For top sellers, Allen said diamond earrings and emeralds are in demand.

At Brevelle's Jewelry in Lafayette, La., owner Allen Brevelle said it just turned cold, which puts people in the holiday spirit and encourages sales.

Brevelle said sales are steady and about even compared with last year, with diamond earrings selling well.

Brian Newton of Newton Jewelry Co. in Joplin, Mo., faced the major ice storm recently in Missouri that caused so many people to lose power.

"It affected the store for a couple of days," he said, adding that sales were good before the storm and have since rebounded.

"Business is back," he said, adding that it looks to be a good season with diamond pendants doing well.

Evan James Deutsch of Evan James Ltd. in Brattleboro, Vt., said the recent weather, including everything from rain, to sleet, to snow, caused fewer sales in his store, but that he's still on par with last year.

He said it's a winter wonderland in his area today with everyone digging out of the snow, and because of such, expects most sales to occur in the afternoon.

He also said the inexpensive hot ticket this holiday season is silver jewelry and gold charms.

Kelly Newton of Newton's Jewelers in Fort Smith, Ark., said their weather has been cold, but they dodged the major storm bullet.

Newton said he is way ahead in sales this year, with diamond stud earrings, diamond bracelets, diamond engagement rings and yellow gold jewelry as some of his top sellers.

At C. Aaron Penaloza Jewelers in San Antonio, Texas, owner Aaron Penaloza said the weather finally got cold, which he hopes will put people in the Christmas spirit and make them want to buy.

Penaloza said little gold bracelets are selling strongly; in fact, his store is almost running out of them.

Overall, Penaloza said he is down from last year but still hoping for a big finish. Whatever the case, Penaloza said sales have been good overall, so he will come out just fine.

Susan Eisen of Susan Eisen Fine Jewelry, with two locations in El Paso, Texas, said sales are doing pretty well and anticipates a big rush in the last week.

She sees diamonds, designer jewelry and last-minute custom designs as some of her best sellers.

Eisen said when there's bad weather in her area, it tends to draw people into the store and then they don't want to leave; however, it can also prevent people from getting to the store in the first place. Regardless, she said if there is a weather problem, people will usually buy after Christmas too.
Source: nationaljewelernetwork

Stuller's DTC Sightholder Status Renewed

Stuller, Inc., originally appointed as a Diamond Trading Company sightholder, in 2005, announced Monday its successful reapplication of continuing its position with the Diamond Trading Company, the distribution arm of DeBeers. The news came from the DTC’s London offices. Stuller’s agreement with the DTC will be for the 2008-2011 Supplier of Choice contract period.


In the media release from the DTC, Varda Shine, DTC’s Managing Director, referenced the sightholder selection criteria which were, “Designed to identify those applicants that demonstrated excellence in their technical ability, their distribution and marketing ability, and the core strengths of their diamond business. Financial transparency and ethical accountability were mandatory requirements for all applicants.”


Gareth Penny, Managing Director of the DeBeers Group congratulated the new sightholders and noted that, “They represent a world class list of diamond companies comprising all areas of expertise in business models: large and small, across all of the world’s trading centres, from dealers to jewelry manufacturers and retailers.”


“We are very pleased to again be named a DTC sightholder, which reconfirms that our company is a prime diamond source," said Matthew Stuller, Stuller’s chairman and chief executive officer. "This reappointment validates Stuller’s continued commitment to providing diamonds for our customers in the most efficient and cost effective manner. Stuller is proud to be one of only 79 sightholders in the world.”


As a DTC sightholder, Stuller will continue to receive rough diamonds directly from the world’s leading rough diamond supplier, which will enable the company to provide a wide range of diamonds directly from diamond mines to retailers. In support of its global diamond trading platform, Stuller cuts and polishes rough diamonds in manufacturing facilities in Israel, China, Russia, India, and Belgium, as well as in its flagship operation in Lafayette, Louisiana.
Source: jckonline

Diamonds, a girl's best friend, an investor's bad choice

Most holiday shoppers aren't thinking of the investment value of what they are buying.


But William P. from the Boston area figures that as long as he's shopping for jewelry for his wife — she'll celebrate her 30th birthday on Christmas Eve, a week before the couple's fifth wedding anniversary — he might as well keep the portfolio in mind.


"This is something I want to do, but we're also young and there's no doubt that we could use the money for other things," he wrote in an e-mail.


"I was going to put a few more dollars into the 401(k), but now I am thinking that I will use the money to pay for the diamond earrings. Diamond prices keep going up, so if we ever really need the money, we could cash them in for a little profit. ... I'm not so sure I could buy a stock and be so sure it will be worth more the same way I can with diamonds."


Alas, William and many other shoppers who overspend on diamonds because of the jewels' investment value are making a Stupid Investment of the Week.


Stupid Investment of the Week highlights flawed thinking that leads average consumers to make less-than-ideal financial decisions; the column is not intended as a sell signal, and it would hardly work as one in the case of diamonds, where the financial outlay is typically laced with emotion. Those emotions — and not investment prospects — are precisely the right reasons to buy jewels.


"There are many places where you can put your money where your returns are more immediate and much greater," says Antoinette Matlins, author of "Jewelry & Gems: The Buying Guide."


As an investment in emotion — love, hope, faith, commitment, romance, and trust, to name a few — diamonds may provide a terrific return, albeit not a monetary one.


But try to cash in a diamond for a profit and you have all sorts of potential for trouble.


While returns are hard enough to predict in most investments, they are nearly impossible to figure for diamonds.


Diamonds are appraised and graded, but prices move based on consumer sentiment.


While the grading systems are based on set standards — so that a dozen experts looking at the same stone should draw identical conclusions on carats, color, cut and clarity — there is a lot of wiggle room.

Gemologists say that buyers frequently pay for grades, without knowing where the stone falls in the spectrum of the mark. From an investment standpoint, that's like coming up with a fair-market value without ever being able to look at precise financials. A little swing either way can dramatically change the potential profit or loss.


As a result, diamonds face inestimable "dealer risk," the potential to get fleeced by an unscrupulous dealer. (Even in collectibles meant for investment, like coins, dealer risk poses a big potential problem.)


"Pricing risk" is also a part of the equation. If you buy a diamond at three times the true wholesale price you'll have no shot of selling it at that price for a decade or more. Diamonds do hold their value well — so long as the stone is real, it's not going to zero like a company headed for bankruptcy.


Next, there is liquidity risk. While stones retain their value, you won't have a lot of bargaining power if you must sell to raise cash.


Dealers who buy jewelry don't pay retail, and the nation's pawn shops are full of expensive gems that were turned in for a lot less cash than they were purchased for.


And because emotion generally is attached to a jewelry purchase, it can be mighty hard to part with under the best of circumstances; if William P. ever gets overdrawn on the credit cards, chances are the earrings won't be the first thing jettisoned to ease the burden of bills.


In the late 1970s, diamonds boomed as sellers suggested that diamonds would replace gold as a safe investment option; buyers snapped up stones thinking they would hold their value, and prices skyrocketed.


The bottom fell out in 1981, and while jewel prices have risen at a slow, steady pace ever since, the buyers who thought they were getting a gem of an investment still couldn't sell those stones at a profit.


Since that time, most people have looked at gems more as gifts than investments. Recent price increases, coupled with the current stock market's current volatility, seem to be priming the investment pump again.


Matlins says that would be a mistake. Focus on what the gift means, not what it might be worth to some future buyer.


"It's nice to do something for pleasure, that's very romantic and very sentimental, but that also retains its value," she says.


"There are a lot of values attached to buying jewelry that go beyond the money. And it's better than giving her a car, where the value will be going down every day. But if you're looking at this as an investment in anything other than your relationship or your family, you're probably going to be frustrated if you ever really need to cash it in."
Source: nwsource

More holiday gift-buyers will snub jewelry

Fewer consumers are expected to choose jewelry items as gifts this year compared with last, a consumer spending researcher said in a National Retail Federation (NRF) holiday conference call with the media on Thursday.

Jewelry and precious metals are expected to constitute 22.2 percent of consumer spending in the 2007 holiday season, compared with 26.4 percent in 2006, Phil Rist, vice president of strategy for Columbus, Ohio-based research data provider Big Research said. This spending excludes engagement rings, which Rist called the "love market."

He added that fine jewelers will continue to be hurt by the amount of "cheap bling," or costume jewelry, now offered at higher-end department stores. For some consumers, this replaces the sale of actual gems and gold, Rist said.

In general, though, retail sales (excluding automobiles, gas stations and restaurants) were 5.1 percent higher in November 2007 compared with November 2006, and 1.2 percent higher than in October, the NRF said.

Rist said that while many predicted consumers would pull back on spending this holiday season, that doesn't appear to be the case.

"Consumers were taking advantage of the discounts retailers were offering," he said.

Rist said data shows consumers shopped sales and used those sales to cross people off their Christmas list, as well as "treat" themselves.

But jewelry does not appear to be at the top of those lists this year. Rist said the top sellers so far this holiday season are clothing, entertainment (books, CDs, DVDs), gift cards, toys and electronics (computers, TVs.)

Rist noted that the "gift card juggernaut" continues, with department store, restaurant and book store gift cards leading the charge. Gift cards for jewelry stores were not among the 10 most popular gift cards purchased.

Heading into 2008, Rist predicts consumer confidence will dip, and consumers will become more cautious with their spending, spurred by high gas prices and the continuing fallout from the subprime mortgage mess.

To do well in 2008, retailers will need to recognize the year's theme, which is that consumers will want to feel in control of their money.

"They'll be tightening up (going into 2008)," Rist said. "They can control their discretionary spending."
Source: nationaljewelernetwork

Tolerable Wearable Artwork


IS there any expression in fine jewelry more noxious-sounding than a necklace or bracelet that is described as “wearable art”?


Somehow, it sounded less pretentious when standing in Salon 94 Freeman, a gallery on Freeman Alley on the Lower East Side, talking to artists whose work for a show opening Thursday happens to focus on jewelry. Paradoxically, some of their work is actually unwearable, but nevertheless intriguing enough make you want to try.


This is the first exhibition by a company called the Crown Jewels, which is a joint venture among a group of art professionals (Andrea Schwan, a public relations consultant, and the dealers Jeanne Greenberg Rohatyn, Zesty Meyers and Evan Snyderman) who plan to show hand-crafted jewelry and other small objects in different spaces around the city.


The show includes silver necklaces based on hip-hop bling by Kiki Smith (one with a tarantula pendant and a star costs $5,000); a ceremonial crown and ring set made from reclaimed gold jewelry by Kara Hamilton ($45,000 for the set); and older pieces by Alexander Calder and Louise Nevelson.


There are also some more-accessibly priced items like Murano glass rings for $550 by Manuela Zanvettori. Outside, in the alley, there is a selection of Christmas trees by Marilyn Minter ($180), or rather life-size wall decals cut in the shape of a decorated fir.


As Mr. Meyers was unpacking a series of roughly hewn rings by the German designer Karl Fritsch made of unpolished gold points that extended from the finger as a stalagmite might, Francis Uprichard was in a corner laying out her necklace of skulls made of Super Sculpey modeling clay in the drawer of a neosurrealist vanity by Martino Gamper.


“This show takes the approach that the work is made by the artists’ own hands,” Ms. Rohatyn said.


Some of it was done so quite literally. Katia Bassanini, for instance, painted representations of famous paintings through history, including works by Matisse, Picasso and Mondrian, on acrylic press-on nails that will sell in the gallery for $150 each.
Source: nytimes

Wheeler jewelry finds value in prairie location

Success is in the details, especially when you compete in the tourism jewelry industry, according to Brad Wheeler, president of Wheeler Jewelry Manufacturing, located in this remote prairie community of about 1,400 people.

Providing customers with quality, low-cost jewelry items is the company's specialty.

Wheeler Jewelry products are found at tourist and other outlets in all 50 states, according to Wheeler.

"We have a good business in airport gift shops and good business in casinos right now," he added.

The business was started by Wheeler's father R.B. Wheeler, who bought a Montana agate-jewelry business in Lemmon in the mid-1940s because he thought the area would be a good place to raise a family.

"He paid $5,000 for it, and the rest is history," Brad Wheeler said.

Wheeler Jewelry started out selling to jewelry stores, then gradually migrated to where the bulk of the business is -- tourist and gift shops.

Brad Wheeler and his brother, Rob, have operated the company since 1979, but their 90-year-old father still takes an occasional walk through the manufacturing plant.

The family owns about two-thirds of the business. The remaining one-third is owned by seven company supervisors, a policy implemented by the elder Wheeler who recognized the value of having employees with a vested interest in the company.

"That's been a very good move for us," Wheeler said. "It makes them part of our team. When you get into a tough situation and need to get something done, you can get it done because they're involved. They own the business."

In an era where cheap, foreign labor has allowed overseas manufacturers to swallow huge segments of the jewelry market, most of Wheeler's jewelry is still produced in Lemmon.

"It's a real anomaly in the jewelry business to have 75 percent of your volume where you're actually making it in the states, Wheeler said.

The Wheelers clearly believe the global pressure, especially since the company serves a clientele that wants inexpensive jewelry, he said.

"Our big customers need products under $10 and $20," Wheeler said. "You either provide it or someone else will."

Wheelers sell directly to gift shops and emphasize their flexibility in filling small orders, which limits the company's ability to automate production.

Shop orders typically average between 50 and 300 pieces. A 300-piece order is a big order, Wheeler said.

Wheelers pride themselves on their customer service. If they need it, customers can order one of an item.

"We treat our customers very well, we have very good relationships with them," Wheeler said.

That's important in a business where there is not a lot of room for growth.

The company recently introduced a new line of imported poua shell and bone jewelry that is going to be popular. Since September, more than 350 customers have placed orders.

"About 750 will get you most of the tourist gift shops," Wheeler said.

The Wheelers work with several jewelry designers to try to stay ahead of market trends.

Brad Wheeler's daughter, Jacey Messer, is about to begin designing jewelry for the company from her home in Bozeman, Mont.

"That will be neat to have her on board, taking over some of that," he said.

The Wheelers recognize their role in the local economy, but have to balance that with the need to stay competitive in the industry.

So far, the company has avoided layoffs by growing the business and trading out-sourced production positions for packaging and customer-service jobs.

Production costs are much lower for Chinese jewelers paying employees 35 cents an hour, Wheeler said.

Wheeler Jewelry employs approximately 120 people, making it a vital part of the community's economy, according to Mayor Walter Dauwen, who works at Wheeler Jewelry.

"It's something that keeps Lemmon on the map," Dauwen said. "It's something that's definitely needed here in Lemmon."

Not only does the company contribute to community activities, but having a stable employer has helped the community continue to thrive, the mayor said.

In the past five years, Lemmon has seen a return of young families and several new businesses have opened.

"The economy is on the right track to getting back to where we want to be," Dauwen said.

And, part of the community's success is due to Wheeler's work force and the money they spend in the town, he said.

The average hourly wage at Wheeler's is more than $10 an hour with benefits.

Wheeler's health insurance and other benefits attract many farm and ranch women to the company.

Health insurance is probably the most significant, but the company has 401(K) and profit-sharing plans.

"We have quite a few people that come quite a distance," Wheeler said. "A group of ladies come from Elgin (N.D.)."

So many employees have been with the company for more than 25 years that the company has the anniversary celebration down to an art, Wheeler said.

"But that tells you a bigger story," Wheeler said. "People don't turnover a lot."

Cathy Rook has been with the company for 30 years. Lemmon is fortunate to have the company, she said.

"They're very good to their employees," Rook said.

Employee work ethic and careful management continue to be the key to the business' success, Wheeler said.

In an industry that uses gold and silver in the manufacturing process, watching inventory and buying tends is critical.

"We have some really good people that run a really sophisticated computer system. We make very few inventory mistakes," Wheeler said. "That can be significant."

Being located "out in the middle of nowhere" is an obstacle for the company, according to Wheeler. So finished items are small and relatively easy to ship.

Items manufactured overseas usually take about four days to arrive in Lemmon once they are shipped.

"There was a time when we thought of going to the Hills," Wheeler said. "I don't see that happening. The cost of our buildings and the taxes are a clear advantage.

"Plus, I have a lot of shareholders that like to pheasant hunt," he added with a wink.
Source: rapidcityjournal

Gosses open jewelry store on Main Street


James Goss, who has been involved in the jewelry business 14 years, has returned to Hermiston and opened his own store.

Goss Family Jewelers, which he operates with the help of his mother, Cynthia, opened Wednesday in the Watson Building at 138 E. Main St.

After developing an interest in jewelry-making in high school, Goss, 36, attended jewelry schools and worked in jewelry stores in Hermiston, La Grande, Baker City and the Caribbean before returning to Hermiston, where his mother has lived since 1975. He said he's dabbled in other careers, "but I always found myself coming back to jewelry."

A goldsmith and jewelry designer, Goss said he specializes in creating custom jewelry and making jewelry repairs, but also provides minor watch repairs.

The store offers watches and gold and silver jewelry with diamonds and other precious stones. It also features a case that displays work from a local "artist of the month."

Source: eastoregonian

Dubai Sets Up First Gems & Jewelry Academy

The ARY Group has initiated the establishment of an
Academy
of
Gems
and Jewelry in
Dubai
. The institute will reportedly offer diploma courses in design, manufacture, assaying and management of gems and jewelry.





The region has been witnessing tremendous growth in the consumption of gold and jewelry as well as more jewelry retail outlets and employment opportunities.





AME Info quoted Sarwat Abdul Razzak, CEO of the ARY

Academy
of
Gems

and Jewelry: "Today, the jewelry industry requires not mere traders but knowledgeable workers and entrepreneurs."





She added: "As a business leader, we want society to benefit from our heritage and we believe grooming a generation capable of maintaining quality and excellence in the industry is the best we could do. The ARY group has always drawn its strength from the reputation of the UAE, especially
Dubai
, as a major hub of gold trade. Hence we consider
Dubai
as the ideal choice for this Academy."
Source: israelidiamond

Byeon Admits Jewelry Gifts in Shin-gate Trial

Former chief presidential policy secretary Byeon Yang-kyun admitted he gave jewelry worth tens of millions of won to his mistress Shin Jeong-ah, the disgraced curator at the heart of a fake-degree scandal. The admission came on his fourth trial on charges of influence peddling and bribery in connection with the scandal Monday. But Byeon said Shin had paid part of the costs with gift certificates. According to prosecutors, Byeon gave Shin a diamond ring, a luxury-brand watch, a necklace and a ring worth W47 million (US$1=W934) in total. Byeon said the jewelry was a return present for a painting Shin had given him.

The two were revealed to have frequently discussed what to do after Shin’s forgery of her academic credentials were revealed. Byeon admitted exchanging 63 phone calls and text messages with Shin between July 12 and 16, saying they communicated that way since they rarely met face-to-face. Shin secretly returned from Europe on July 12, shortly after the forgery was exposed and she was stripped of the art directorship at the Gwangju Biennale, Korea’s leading contemporary art event. Four days later she fled to the U.S.


Defending herself on the issue of expensive jewels she received from Byeon, Shin issued an emotional appeal for people not to denounce her “as a prostitute.” She added her relationship with Byeon had been “beautiful.” Byeon said the two went for romantic walks in Mt. Namsan.
Source: chosun

Lady Serena's Jewelry opens store in Virginia

Lori LeTourneau went to her first Renaissance Festival in 2000 and fell in love with chainmaille jewelry.

She said to herself, “I can make that,’’ which would soon come to fruition.


She and her husband Tom LeTourneau have had an active website (www.ladyserenas.us) for two years and she has been making the product for four years.


And they have just opened a new store, Lady Serena’s Jewelry on Fourth Avenue in downtown Virginia.


In addition to the chainmaille necklaces, earrings, bracelets and more, Lori LeTourneau also makes leather roses and other leather items.


The new storefront will enable the couple, who now reside in Eveleth, to expand on their sales via the Internet and at some past Renaissance Festivals.

“I think there’s a market in this area,’’ Tom LeTourneau said. The store has already been seeing some sales in its first few days and has received good feedback on both the jewelry and leather items.


The unique chainmaille jewelry is originally from the 11th Century, Lori LeTourneau said, where it was mostly used as armor.


She now hand crafts the different types of metal rings (from copper to gold) into the jewelry and even shirts and vests.


It is “literally weaved out of metal,’’ Lori LeTourneau said.


The average necklace, she added, takes about eight hours to craft, and longer if the metals are softer.


Her other specialty is hand-formed leather roses in a variety of traditional and other colors.


“It will last forever,’’ she said.


The unique roses have proved to be quite successful. “We have sold a lot of these over the Internet,’’ Tom LeTourneau said.


Other leather products include belt pouches and family coats of arms on request.


They said Lady Serena’s is currently not a leather repair shop, but that is something they are looking into.
Source: virginiamn

Madrid: Helena Rohner


At 10 a.m. the Latina neighborhood of Madrid is absent the evening hustle and flow of tapas-seeking crowds. Nevertheless, a steady stream of shoppers makes a detour here — young women in vintage dresses, bourgeois mothers with blunt -cut hair, elderly ladies in nubby furs — ducking down Calle Almendro and buzzing the bell marked “Helena Rohner” on an unassuming 19th-century apartment building. They come to Ms. Rohner’s studio to scoop up her organic jewelry designs (for men, women and children) and home décor items.

Open the door and you’re in an artist’s workshop. Ms. Rohner, gamine and tidy with strawberry-blond hair and bright lipstick, oversees her team as they polish and shine. “They are made to be worn, to adapt to your body, to be comfortable, well made and not trendy,” said Ms. Rohner, 39, of her silver and gold rings for men and women, some set with wood, ebony or porcelain. She tries on a large, circular ebony ring (151 euros, or $222, at $1.50 to the euro), and a ring with a swooping base set with a dollop of black porcelain (120 euros).


Ms. Rohner was born in the Canary Islands and educated at the London School of Economics. Between high school and college, she spent a year in Florence, where she stumbled into jewelry.


Her necklaces, cuff links and rings set with wood and silver are particularly striking, as are the earrings enhanced with coral, and a gold collection with wedding rings made to order. Paul Smith sells a collection of her men’s jewelry.


The home-goods collection includes a ceramic tea set that looks like a Jonathan Adler adaptation meets Art Deco on the set of “Barbarella,” and a wood candlestick set inlaid with silver. Georg Jensen recently commissioned Ms. Rohner to create a steel tea-set collection.


Yet jewelry remains her special focus, she said. “Jewelry is a question of light, the light you add to your body.”
Source: nytimes