Jewelry the Focus at Tendence Autumn + Winter

The upcoming Tendence Autumn + Winter trade fair in Frankfurt, Germany, will include an area dedicated to jewelry design called "Carat."

Jewelry will be placed in Halls 5.0 and 6.0 in the Frankfurt am Main exhibition center for the trade show. Exhibitors will include: A. Ruppenthal, Alfred Schmiesing, Anton Hübner, Bernd Wolf, Coeur de Lion Schmuckdesign, Horwitz, Konplott Luxembourg, Kreuchauff Design, and Pilgrim A/S who will be presenting their new collections of fine, fashion, and designer jewelry for the fall and winter seasons.

Tendence—which is normally held in late August, early September—will be held for the first time on July 4-8. Jewelry plays a part of the design and lifestyle show.

In Hall 6.0, gold, diamond, pearls and gemstone suppliers will be featured. In Hall 5.0, the focus will be on fashion jewelry. In both halls, special emphasis will be placed on the theme of design.

“Jewelry appeals to the emotions, reflects the trends of the moment and is a way of expressing creativity—few consumer goods are this versatile," said Susanne Schlimgen, Tendence director. "The Carat platform, with its diverse product range and optimal timing, does justice to this wealth of facets.”

In addition, 22 new creative talents will showcase their jewelry in Hall 6.0. In this area, design students, college graduates, young designers, and design agencies show what the jewelry and accessories of the future will look like.

The German Crafts Association (Bundesverband Kunsthandwerk) will also be on display in Hall 6.0. In addition to jewelry design, themes will include creative segments such as home accessories and textiles. Pieces which are outstanding in artistic quality and workmanship have a good chance of winning the Hessian State Prize for German Arts and Crafts. The award has a long tradition. It has been awarded, at Tendence, formerly the Frankfurt Autumn Fair, to a participating exhibitor since 1951, which makes it Germany’s oldest, state-sponsored prize. The 2008 ceremony will be held on July 7.
Source: jckonline

In diamond world, brown is new white

This Le Vian earring and ring set features pave "chocolate" diamonds set in 14-karat white gold. The 2-carat earrings retail for $4,048 and the 1.5-carat ring sells for $3,498.

Long the redheaded stepchild of the diamond world, earth-tone diamonds in varying shades are now emerging as a favorite son.

Just don't call them "brown."

Marketed as "cognac," "champagne" or "chocolate," brown diamonds are in demand by today's fashion-conscious consumers who want jewelry that can be matched to their outfits.

Brown and yellow are the two most commonly found colors in the diamond world. "Common" is a relative term, however, as only one out of every 10,000 diamonds officially qualifies as a colored diamond, says Robert Mays, executive director of the Natural Color Diamond Association (NCDIA).

May recommends that jewelers who are interested in selling colored diamonds begin with the more plentiful—and comparatively affordable—browns before spending top dollar for the extremely rare and expensive colors such as pink and blue.

"Champagne, cognac and chocolate diamonds are the perfect entry point to come into the market if you want to get into the colored-diamond business," May says.

Australia's Argyle mine is the world's largest producer of brown diamonds, with a haul between $150 million and $200 million annually, according to mining company Rio Tinto. The NCDIA says brown diamonds are also found in southern Africa and Siberia.

Liz Chatelain, chief executive officer of MVI Marketing and co-founder of the Indo-Argyle Diamond Council, began working with the Argyle mine in 1989, and she says at that time, the general attitude toward brown diamonds, or "champagne," as Argyle has termed them, was negative.

"The trade has always been the gatekeepers," she says. "They did not like, or think the consumer would like, champagne diamonds. They had always been taught by De Beers that the best diamonds were white, therefore champagne diamonds had no place in jewelry."

But, she says, that started to change around 1992 when David Yurman made his first champagne-diamond piece. Brown diamonds as a category then began to pick up steam.

Chatelain says today's high-end designers mix champagne diamonds with white ones.

"It is still a small part of the diamond jewelry business but adds style and interest to jewelry collections around the world," she says.

When converted into polished diamonds and mounted into jewelry, brown diamonds constitute $4 billion to $5 billion of the world's retail diamond jewelry sales each year, or roughly 7 percent, according to Rio Tinto.

Le Vian is another well-known brand that contributes to brown-diamond retail sales.

Headed by Eddie LeVian, CEO, designer and director, Le Vian has its own brand of "chocolate" diamonds.

"The chocolate color is one that women understand," LeVian says, noting the idea of "chocolate" appeals to women more so than "champagne" or "cognac."

Celebrities who are dipping into the trend include hotel heiress Paris Hilton, tennis pro Serena Williams and Heroes actress Hayden Panettiere.

"It's everywhere," LeVian says. "They are all drawn to it."

And while the average retail jeweler won't have a great number of Grand Slam champions or Heroes as customers, LeVian points out that celebrities are no different than other women.

Jewelry, LeVian says, is no longer about a woman's husband buying her one piece she keeps her entire life.

Price points for Le Vian chocolate pieces range from $200 to more than $100,000.

Another designer cluing in to the brown trend is Justine Simmons, sister-in-law of Simmons Jewelry Co. owner Russell Simmons.

Simmons launched "Brown Sugar," which is being produced by Simmons Jewelry Co. on the Home Shopping Network (HSN) and HSN.com.

With price points ranging between $199 and $599, Simmons says she has designed a line that is fashionable and can be worn with everything from a ball gown to blue jeans.

Future plans call for expanding into men's jewelry and incorporating brown topaz and quartz pieces into the line.

Shades of rare

Only one in 10,000 diamonds that comes out of the ground qualifies as a colored diamond. Here is a guide classifying natural-colored diamonds by rarity of color.

—Rare: Brown, gray, black

—Very rare: Orange, yellow, olive

—Extremely rare: Pink, blue, green

—Most rare: Red, purple

Source: Natural Color Diamond Association

DMCC, Panyu, China to Promote Jewelry Trade

Dubai Multi Commodities Centre on Wednesday signed a Memorandum of Understanding with the People's Government of Panyu District, China, for increased cooperation towards mutual growth and the promotion of jewelry trade between both countries, with a special focus on diamonds and colored stones.

The MoU is in line with the recent visit of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, vice-president and prime minister of the United Arab Emirates and Ruler of Dubai, to China to strengthen ties between the UAE and China.

Under the terms of the agreement, both parties will mutually promote the jewelry trade, with the intention of collectively developing a strong presence in international markets and establishing a global influence. This will be accomplished through the exchange of market expertise in jewelry design, training, business opportunities, and educational initiatives, in addition to facilitating the reciprocal operation of visiting jewelry trade delegations.

Led by Mr. Tan Ying-hua, party secretary of the Panyu People’s Government, the 11-member delegation from the Government of Panyu visited the DMCC offices, ahead of the signing of the MoU. Delegation officials from the Panyu People’s Government included the vice president of the Panyu Jewellery Manufacturers Association and the Jewellery and Diamond advisor to the Panyu Government. Ahmed bin Sulayem, executive chairman, DMCC, presented each member of the delegation with a Chinese version of His Highness Sheikh Mohammed’s book: “Royati – My Vision”

“Our MoU with DMCC … will enable us to explore the extensive scope of the emerging markets in the high growth economies of the Middle East," said Tan Ying-hua. "We aim to jointly create an environment conducive to business, and a solid platform for the exchange of knowledge. This will be of immense value to the diamond and gemstone traders between Panyu and Dubai, and will enhance opportunities for increasing jewelry trade volumes.”

DMCC and the Government of Panyu will form a four-member steering committee to assist in discussing the wider scope of the MoU. The MoU also seeks to encourage youth exchange programmes and establish cultural delegations in the fields of art and music, with the intention of promoting friendship between the two countries.

“DMCC is very pleased to enter into this cooperative relationship with the Government of Panyu, China, which will open up new avenues for strengthening trade links between two prominent economies," said Ahmed bin Sulayem, executive chairman, DMCC. "Panyu has rapidly emerged as the gem and jewellery capital of China. Through DMCC’s partnership with them, we are confident that we will see greater acceleration in jewellery trade between both countries.”

Panyu, a district of Guangzhou situated in the Guangdong province, accounts for more than a fifth of China’s export of gold and inlaid jewelry. Panyu has nearly 400 enterprises employing more than 70,000 workers within the jewelry trade. In 2007, the total value of domestic export was $1.32 billion. Panyu is also set to host the ninth International Coloured Gemstone Association Congress in 2009.

Seated Left to Right: Ahmed bin Sulayem, executive chairman, DMCC; 
Tan Ying-hua, party secretary of the Panyu People’s Government at the MoU 
signing ceremony between DMCC and the People's Government of Panyu District, China.
Source: jckonline

Spring jewelry has a garden glimmer

NOW that the patina of the "it" bag has worn off, along with the appeal of the red sole of a Christian Louboutin pump, jewelry -- both fine and faux -- is having its moment.

We're not talking about a single strand of pearls, a subtle lariat or a few stacking rings. We're talking statement jewelry, the kind of pieces that are so colorful, intricate or just plain enormous, they demand to be noticed.

For spring, jewelry is alive with birds, butterflies, blossoms and blooms echoing the garden of delights on the fashion runways. The details are so lifelike on these fantasy pieces, they look as if they could have been plucked from the wild. Leviev's 60-carat fern frond, dazzling with green garnets and yellow diamonds, is as realistic as a sketch from a botany book. Chanel's Camellia Feuille aquamarine and blue sapphire ring may be small, but the intense color of the stones makes it look like the prize bloom in a garden. Chopard took the trend and turned it into one major cuff clustered with "blossoms" of pink sapphires and diamonds, and priced at $650,000. Talk about flower power.

But just as the runways set the trends for the mass market, these works of art are leading the way for some of the best costume jewelry since the 1980s. Because we may not be rich, but at least we can look like it.

Fashion designers leapt into the fine jewelry business about 15 years ago, as part of the global rise of luxury brands. Chanel launched its fine jewelry collection in 1993, using its camellia signature on rings and necklaces, followed more recently by Christian Dior, Gucci and Louis Vuitton. And soon, Ralph Lauren will introduce a fine jewelry line.

Now, high-end designers, including Lanvin, Marc Jacobs, Yves Saint Laurent, Balenciaga and Marni, are expanding their costume offerings, seeing the category as an entree for would-be luxury shoppers. Miu Miu's critter brooches -- quirky spiders, lizards and dragonflies -- reflect the spring collection's nocturnal whimsy and give a lot of personality to a dress or blazer.

Tom Binns, a Venice Beach designer, is one of a new generation of independent costume jewelers elevating the craft. His floral collar with intertwining blooms and vines in every color of the rainbow, looks as if it could be an estate piece. New York designer Alexis Bittar specializes in Lucite, hand-painting stunning floral brooches. Then there's Kenneth Jay Lane, the king of costume for nearly 50 years, who made jewelry for Jacqueline Kennedy Onassis, Diana Vreeland and Elizabeth Taylor. (He also designed the three-strand pearl necklace famously worn by Barbara Bush.) Lane's $90 enamel flower cocktail rings are spring's best buy.

Even more accessible, J. Crew is focusing on jewelry like never before, with flower, bird and butterfly baubles in the spring collection. The $150 Magnolia cuff, a vintage-feeling piece in brown enamel with a blossom bursting from the center, is one of the season's true statement pieces.

Of course, jewelers have been translating flora and fauna into sparkling creations forever. Leaves and flowers decorated some of the earliest jewelry in Egypt, where they were linked to life and resurrection. The Greeks and Romans draped themselves with gold leaf ornaments and wreaths, to symbolize prosperity. And the 21st century Angeleno? Think of it as fashionable armature, of the most delicate sort.
Source: latimes

French Jewel Heads Home

In 1855 the Parisian jeweler François Kramer created a diamond bow brooch for the beauteous tastemaker Empress Eugénie, wife of Napoleon III. But on May 12, 1887, the French crown jewels were sold at public auction in the Louvre by order of the Third Republic. The buyer, for $135,000, was the jeweler Emile Schlesinger acting for Caroline Astor of New York. The brooch, above, remained in the Astor family but after 121 years was to be offered for auction at Christie’s in New York on April 15. Then the Louvre and the Friends of the Louvre decided the jewel belonged in France. So when the auction sale was canceled for legal reasons, the Louvre was able to negotiate a private sale with the agreement of the owner, the jeweler Ralph O. Esmerian, Christie’s announced on Tuesday. François Curiel, president of Christie’s Europe, expressed pleasure that “a French crown jewel has reclaimed its position among the museum’s royal collections.” The brooch was recently estimated by Christie’s to be worth $6 million to $8 million.
Source: nytimes

Gold prices dominate spring buying plans

Many retailers at the JA New York Winter Show did not buy more merchandise than last year due to high metal prices.

Retailers strolling the aisles at the JA New York Winter Show presented a mixed picture of expectations for 2008, a year overshadowed by the threat of recession and increasing gold prices.

Some were optimistic in the face of the economic downturn, while others were bracing for a rocky year—divergent viewpoints seemingly fueled by geographic location.

One common thread among retailers interviewed by National Jeweler at the March 9-11 event was that they were not buying more merchandise than they did last year, with many feeling the pinch of rising metal prices.

One buyer, Bobby Vellios of Bobby's Jewelry Ltd. in Brooklyn, N.Y., said that with holiday sales down at his store, he had to downsize his expectations for 2008, and planned to buy less than he did in 2007. Still, he was optimistic, viewing the business as a roller coaster ride that will swerve up again.

Angela Defelippi from the Farmington, Conn.-based Monarch Jewelers was also stocking less merchandise this year, with the expectation that business will not improve for at least another two years. On her to-buy list at JA were traditional items, such as diamond jewelry and bridal sets.

"Everyone will always be getting married, no matter what the economy [does]," she said.

On Defelippi's not-to-buy list: gold, because the prices were, in her words, "astronomical."

"Everything is down with everyone across the country," she said, noting this is especially true in the Northeast, where high oil and gas prices are forcing consumers to be more frugal.

A cold front in Northeast retail? Vellios and Defelippi were not the only Northeast jewelers feeling the sting of a consumer spending drop.

National Jeweler's Year-End Sales Survey, 2007 depicted a slow year nationwide, but the Northeast was hit particularly hard, with the highest percentage of retailers surveyed—60.5 percent—reporting sales were down or flat for the year.

Rick Billig of Billig Jewelers in Marlton, N.J., was buying limited amounts of merchandise and said he was hoping for an average year. Yellow gold jewelry has been selling despite the price, but the pieces moving off the shelves have been lighter fashion pieces, he said.

Like Defelippi, Wendy Billig was skittish about new products, and said she was sticking with "proven sellers" and lighter gold pieces.

"It's all about that gold price," she said.

Similarly, Carol Mitnick of The Cosmopolitan Collection in Haddonfield, N.J., was searching JA for less expensive, lighter-weight gold pieces and sterling silver.

Despite economic woes, Mitnick said her holiday sales were good, thanks to colored gemstone sales, specifically.

At William S. Rich and Son in Union, N.J., Sherry Sablosky was poised for a down year and planned to buy less.

"With the price of gold, retailers are definitely down," Sablosky said. "We're trying to sell [gold], but you can't even buy a chain to sell. People don't want to pay those prices."

Retailers from other areas of the country attending the show at the Jacob K. Javits Convention Center in New York had a more optimistic outlook for 2008.

C. Niki Hunn of Thomas Hunn Jewelers in Grand Junction, Colo., said that thanks in part to the store's "recession-proof" location, holiday sales were strong and she anticipated a good year.

Designer Sonya Ooten of the Sonya Ooten Gem Bar in Los Angeles was also upbeat.

"I'm feeling like we've made it through the worst of it," she said, adding that in the L.A. area, the writers' strike, now over, had slowed sales.

Still, Ooten hopes gold prices level out this year, noting they were as low as $212 an ounce just a few years ago.

"It's crazy," Ooten said. "I'm hoping we've reached the max and they'll be going down."

While her margins have shrunk, Ooten refuses to raise prices and risk losing customers, but she is also creating more pieces using all gemstones and no gold.

The power of positive thinking Cheryl Schneider from Romance Jewelers in Concord, N.H., has adapted a new strategy that has had sales rising every month since November. She is teaching her salespeople to approach customers with the attitude that if they are inside the store, they want to buy something. Plus, she has lowered prices on older merchandise that hasn't moved in a long time.

"I think it's a mindset," Schneider said. "Just because the economy's bad doesn't mean it has to be doom and gloom in your store."

Though she will not buy more merchandise in 2008, Schneider is changing her buying strategy, investing in colored stones and diamonds, plus "bigger looks for your money," while staying away from gold because of the price.

Gina Stout, a buyer for New York-based Platinum Plus Jewelry, also planned to buy the same amount of stock in 2008 as she did in 2007.

"I'm looking for specific pieces customers have asked for," she said.

Lourdes Zeik-Chivi of Leonardo Jewelers in Red Bank, N.J., had the same concerns as her Northeastern counterparts but said the luxury consumer will still buy.

"The haves will be buying and the have-nots will be falling by the wayside," Zeik-Chivi said of the upcoming year.

She said she planned to spend the same dollar amount on inventory at JA, but was expecting to get less product for her money.

She has a strategy, however, for a challenging year, and said retailers who want to survive should understand their customer base and offer interesting products. On her shopping list were gold and diamond pieces, although higher gold prices would limit the quantity of goods she could buy.

Zeik-Chivi, who has been focusing on yellow gold for two years, said yellow gold with colored gemstones continues to be a popular seller.

"Only the haves are buying gold," she said, referencing consumers. "It creates an aura that 'If I like it and can buy it, I will buy it.'"
Source: nationaljewelernetwork

Mother's Day Jewelry Sales to Hit $2.7 Billion

Of the 84.2 percent of consumers celebrating Mother’s Day, the majority will invest in one major gift for mom, instead of several smaller gifts, according to a National Retail Federation survey. This is largely apparent in the jewelry category: while the percentage of those buying jewelry decreased from last year (32.8 percent vs. 29.7 in 2008), those planning on buying mom something shiny will spend a total of $2.7 billion, compared to $2.1 billion last year.

Overall, consumers will spend an average of $138.63 this year for Mother's Day, compared to $139.14 last year, according to NRF’s 2008 Mother’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch. Total consumer spending is expected to reach $15.8 billion.

“Mom has been saying for decades that it’s the thought that counts on Mother’s Day, and this year, kids might actually be listening,” said Tracy Mullin, NRF president and chief executive officer. “Retailers will offer specials on popular items such as digital cameras and gardening tools to make it easy for those who want to surprise mom with a gift.”

When it comes to popular gifts, consumers will shell out nearly $3 billion on a special dinner or brunch, $1.2 billion on consumer electronics like digital cameras, digital photo frames and video cameras, $2 billion on flowers, $1.4 on clothing and accessories and $1.1 billion on personal service gifts like a trip to a favorite spa or salon, NRF says. Shoppers will also spend $1.6 billion on gift cards/gift certificates, $696 million on housewares and gardening tools and $672 million on greeting cards.

The majority of consumers shopping for Mother’s Day gifts will head to specialty stores (35 percent), discount stores (25.7 percent) and department stores (28.8 percent). Others will shop at specialty clothing stores (6.6 percent), online (18.3 percent) and through catalogs (3.4 percent).

Young adults aged 18-24, many of whom have wives, mothers, grandmothers, and sisters, will spend the most at an average of $170.71. The 25-34 year-old age group will spend an average of $153.17, followed by 35-44 year-olds who will spend an average of $145.86, according to the survey.
Source: jckonline

Jewelers Mutual to pay out $5.8 million dividend

Jewelers Mutual Insurance Co. has announced it will pay out a $5.8 million dividend to its U.S. commercial policyholders and personal jewelry insurance policyholders this spring, the largest dividend in the company's nearly 100-year history.

Each year, the Jewelers Mutual board of directors evaluates whether or not it can pay a dividend to policyholders based on specific financial criteria. As a mutual company owned by its policyholders, Jewelers Mutual has no shareholders that receive profits. Instead, the company uses profits to pay dividends, reduce rates, offer new or expanded coverages, and develop additional services.

With relatively few weather-related losses in 2006 and 2007, and policyholders' continued focus on loss prevention, the board voted to return $5.8 million to its customers, Jewelers Mutual President and CEO Darin Kath said in a media release issued on Monday.

Jewelers Mutual plans to mail the dividend checks after its annual policyholder meeting on May 21.

To qualify for the dividend, U.S.-based policyholders must have a policy in force as of Jan. 31, 2008, with a current-term written premium of $1,000 or more.

Policyholders insured for one year or longer as of Jan. 31 will receive a dividend of 8 percent of their current-term written premium. Those insured for less than a year as of Jan. 31 will receive a dividend of 4 percent.

The last dividend paid by Jewelers Mutual was $5.1 million in 2004, the year before Hurricanes Katrina and Wilma caused major damage along the southern U.S. coasts.
Source: nationaljewelernetwork

Study shows rich getting richer, more diverse

U.S. households with an annual income of $100,000 and up grew more quickly than any other segment of the U.S. economy, data from the U.S. Census Bureau shows.

The number of affluent households increased almost 13 percent between 2005 and 2006, rising from 19.7 million to 22.2 million.

Among these households, it was those with an annual income of $150,000-$249,999 that experienced the most rapid growth in numbers, census data shows.

In addition, between 2005 and 2006, the number of households with an income between $150,000-$199,999 increased 17.9 percent, while the number of households with an income between $200,000-$249,999 increased 16.2 percent and the number of households that earn more than $250,000 a year increased 10.7 percent.

In analyzing the data, Pam Danziger, president of Unity Marketing, points out that affluent U.S. households also are becoming increasingly diverse.

Census data shows that about 13 percent of affluent households are headed by an ethic minority, 5 percent are headed by a single woman and 30 percent of affluent households are members of Generation X or the Millennial Generation, thereby bringing a more youthful attitude to shopping.

"Given the growing numbers of affluents and the increasing diversity among that population, it is dangerous for marketers to take a 'one-size-fits-all' approach to marketing to these consumers," Danziger said in a media release. "Savvy luxury marketers need to account for differences in buying preferences and behavior among the increasingly diverse segments that make up the affluent population."
Source: nationaljewelernetwork

Designer Showcase to open in New York

The National Jewelry Institute will inaugurate its first-ever exhibition of contemporary jewelry from leading designers, the "2008 Designer Showcase," opening this week at the Forbes Galleries in New York City.

Almost 40 designers, including prestigious global brands and independent designers, are represented in the show, which is curated by jewelry expert Ralph Esmerian, with the help of guest curators Beth Rudin DeWoody, Saks Fifth Avenue and the World Gold Council.

The exhibition opens to the public this Friday, April 25, and the jewelry will be on display through June 28, 2008.

Designer Showcase will then move to Pittsburgh, where it will run from July 19, 2008, through Jan. 18, 2009, at the Carnegie Museum of Natural History.

Jewelry designers featured in the exhibition are: Stephanie Albertson, Giorgio Armani, Cynthia Bach, Elyssa Bass, Lorenz Baumer, Marco Bicego, Katy Briscoe, Bulgari, Cartier, Cinta by John Hardy, Dominique Cohen, Roberto Coin, Lydia Courteille, Adria de Haume, Enigma, Tanya Farah, Mia Fonssagrives-Solow, Veronica Garaycochea, Graff, Gucci, Gurhan, Erhan Gursen, Christine Hafermalz-Wheeler, Joan Hornig, Ippolita, Marchak, Sandra Muller, Judith Ripka, Fabio Salini, Leila Tai, Temple St. Clair, Utopia, Vhernier, Donna Vock, Stephen Webster, Tracey Zabar, Zaffiro, Steven Zale, Irene Zelinsky.

The National Jewelry Institute is a New York-based nonprofit whose mission is to preserve, research and exhibit fine jewelry from all over the world.

For more information about the institute and the 2008 Designer Showcase, visit Nationaljewelryinstitute.org.
Source: nationaljewelernetwork

Sarin acquires Israeli technology company

Sarin Technologies Ltd. now has a 100 percent equity stake in an Israeli company with an innovative method for evaluating the internal features of rough and polished diamonds.

According to a release issued earlier this month, Sarin acquired Galatea Ltd. for $10.77 million, of which $9 million is to be paid in cash and the balance through the issuance of new shares of Sarin stock.

Sarin CEO Zeev Leshem said Galatea's technology is quicker and less costly than other technologies tested by Sarin. He expects the benefits of the acquisition to materialize in the next year.

"With this groundbreaking technology, Sarin will again revolutionize the current rough-diamond analysis methodologies and tools as the industry has come to expect of us over the past two decades," he said.

Sarin Technologies, which is traded on the Singapore Exchange Mainboard, develops, manufactures and markets diamond planning, evaluation, production, measuring and grading systems.
Source: nationaljewelernetwork

House of Taylor receives Nasdaq notification

Stocks for House of Taylor Jewelry Inc. will be delisted on April 24 following a series of Nasdaq Stock Market Inc. violations, the company has announced.

House of Taylor Jewelry missed the extended April 15 deadline for filing its annual report and failed to pay the Nasdaq listing fees, the company stated in a news release.

In addition, Nasdaq notified House of Taylor Jewelry on Oct. 29 that it was not in compliance with the minimum bid price—$1 per share—required for continued listing on Nasdaq and had until April 28 to meet the minimum requirements.

Since that time, House of Taylor Jewelry stock has not met the $1 minimum requirement for 10 consecutive business days.

House of Taylor Jewelry is not the only industry player to run into stock market trouble recently.

Finlay Enterprises Inc., which operates the jewelry sections of department stores as well as a number of standalone stores including Bailey Banks and Biddle, faces delisting in July if it cannot increase the value of its stock.

House of Taylor Jewelry is a Los Angeles-based international jewelry company owned by actress Dame Elizabeth Taylor, model Kathy Ireland and members of the Abramov family.

It supplies fine-jewelry retailers with the brands Elizabeth, House of Taylor Jewelry and Kathy Ireland Jewelry Exclusively for House of Taylor Jewelry.
Source: nationaljewelernetwork

Court Halts Sale of Jewelry at Christie’s

JB Reed/Bloomberg News

A 14.23-carat rectangular-cut pink diamond ring on display at Christie’s. The ring was expected to sell for $15 million.

An appellate court agreed on Monday to stop a Christie’s auction at which $34 million worth of jewelry was to have been sold on Tuesday evening.

The sale, which was being held to pay back part of a $187 million loan made by Merrill Lynch to the jeweler Ralph O. Esmerian, was to have included a $15 million pink diamond ring and a $6 million diamond-encrusted brooch once owned by the wife of Napoleon III. Christie’s had billed it as “the most important antique jewelry in history.”

But Mr. Esmerian, 68, contended that the auction was a fire sale and that the jewels would bring more money if they were sold privately.

“These were jewels that Ralph, his father and his grandfather had collected,” said Helen Davis Chaitman, Mr. Esmerian’s lawyer. “Christie’s has priced them at one-quarter to one-third of their actual value.”

They were to be the cornerstone of Fred Leighton, a jewelry business Mr. Esmerian bought in 2006 with loans from Merrill Lynch. “This was to have been the focal point of the Beverly Hills store that is opening on Rodeo Drive in September,” Ms. Chaitman added.

Last week, Justice Helen E. Freedman of State Supreme Court in Manhattan ordered the sale to proceed. But the Appellate Division of State Supreme Court stayed that decision.

A lawyer for Merrill Lynch said the fight was far from over. “A preliminary injunction against the auction would be wrong,” said Howard R. Hawkins Jr., who is representing Merrill Lynch. “Christie’s auction is the best way to sell this jewelry, and we are going back to Judge Freedman to seek a further ruling so the auction may proceed.”
Source: nytimes

Whitehall Acquires 78 Friedman's Stores

Whitehall Jewelers Holdings, Inc., a leading national specialty retailer of fine jewelry, said its wholly owned subsidiary, Whitehall Jewelers, Inc., has acquired the assets and leases of 78 stores from Friedman's, Inc. and Crescent Jewelers ( a subsidiary of Friedman's) for approximately $14.3 million.

The Chicago-based specialty jewelry retailer said it is acquiring the inventory, prepaid assets, deposits and other tangible property and it plans to continue to operate substantially all of these retail locations as either Whitehall or Lundstrom stores and said it may acquire consignment goods currently held for sale by Friedman's, subject to obtaining certain consents.

"We are very pleased to have capitalized on this opportunity, which fits well into a corporate strategy that includes growing the business through acquisitions," said Edward Dayoob, chairman and chief executive officer of Whitehall. "The acquisition of these assets considerably increases the number of jewelry stores that we will operate and will increase our market share. It also will allow us to strengthen our current Whitehall operations as well as leverage our management team and existing infrastructure, which we expect will result in a more competitive company overall."

The purchase price, which is subject to adjustment after a physical inventory is completed by a third party, was equal to 63 percent of the aggregate cost value of the inventory. Whitehall said it paid 67 percent of the purchase price at closing, and has delivered an irrevocable standby letter of credit to Friedman's to secure its obligation to pay the balance.

The Friedman assets were sold in connection with a bankruptcy proceeding concerning Friedman's in the United States Bankruptcy Court for the District of Delaware. The Bankruptcy Court entered an order approving this sale of assets on April 10.

Whitehall is financing the purchase price for this acquisition through borrowing under its revolving credit facility, which was amended to permit additional borrowings simultaneous with the closing of the asset acquisition, and will be borrowing an additional $5 million from PWJ Lending II LLC, an affiliate of Prentice Capital Management, LP, under the Company's existing Term Loan Credit Agreement which will be used to reduce its borrowings under the revolving credit facility.

Whitehall currently operates approximately 297 stores in regional and super-regional malls under the names Whitehall and Lundstrom.
Source: jckonline

BaselWorld ends with strong buying, attendance

The vibrant and colorful Dolce and Gabbana booth at BaselWorld.

BaselWorld 2008, held from April 3-10 at the Exhibition Centre Basel, ended on a high note, with an increase in visitor attendance, potential double-digit sales growth and world firsts in watchmaking design.

Visitor attendance at this year's show increased 5 percent to 106,800, with a slight drop in the number of American and Chinese visitors.

Approximately 2,100 exhibitors showed off their latest products.

According to Francois Thiebaud, president of the Baselworld Swiss Exhibitors Committee, the U.S. sub-prime mortgage crisis did not have as great an impact at the booths, with strong demand from emerging countries such as China, India and those in Eastern Europe possibly compensating for a potential slowdown in exports to the United States.

In the watch sector, Swiss exhibitors showed spectacular innovation, offering several groundbreaking designs, especially in terms of display modes and tourbillons. Other watch trends included timepieces accented with black diamonds, rose gold timepieces paired with both chocolate-brown and black straps, mixed metals, multiple time zones, brightly colored dials and bands, architectural inspiration and jewelry watches for both men and women.

The jewelry sector also showed positive results, especially in Halls 2.1 and 2.2, which were enlarged and refurbished this year, and catered more selectively to the high-end segment.

Despite the increase in gold and platinum prices, jewelry designers rose to the challenge, creating designs centered on diamonds and colored stones in a variety of cuts, as well as pearls.

The brands in Hall 3 also did well. In addition to the many orders racked up, Swiss exhibitors mentioned the promising contacts they established during the exhibition, show organizers said.

Show organizers also noted that Europe, headed by Switzerland, France, Spain and Italy, remains the key production hub for watchmaking and jewelry, while customers from the Middle East and Near East are making a promising return.

BaselWorld 2009 will be held from March 26 to April 2.
Source: nationaljewelernetwork

New CEO and President for House of Taylor Jewelry

House of Taylor Jewelry has announced the appointment of Lyle M. Rose as President and CEO of the company. He will be replacing Jack Abramov, who resigned for personal reasons. Abramov will serve as a consultant during a six-month transition period.

The company also announced the resignation of Jack Abramov as its Secretary and Vice President.

Lyle Rose reportedly has 36 years of experience in the jewelry industry. In the past he served as CEO of LID, a diamond jewelry and polished diamond manufacturer, as well as divisional president of Jacor Products Group.
Source: israelidiamond

Big bangles, neckwear on tap for spring

Jade Jagger might not sing "Satisfaction" like her father, Mick, but she hopes to bring that very sentiment to the stylish with Jezebel, a new jewelry and clothing line that pays tribute to her Rolling Stone dad's famous pucker via a series of pink enamel lips.

And it's none other than Elle magazine introducing Jagger to consumer awareness, describing Jezebel as "a street-inspired, hip-hopping jewelry collection and slinky clothing line for spring."

Jagger is just one of several designers featured in the copious pages of March's spring fashion magazines, which collectively plugged big, bold "statement necklaces" and bangles as the top jewelry trends of the season.












Marie Claire did not devote much ink to jewelry trends, but in a photo shoot, it did deck some of its models in bold, bright statement necklaces that make the neck adornment trend well known.

Elle devoted a few photos to daring necklaces, with snapshots accompanied by a piece that gave an insider's view on Fashion Week.

Harper's Bazaar reinforced the trend, saying "big necklaces never go out of style, and sculptural geometric elements make this season's batch more striking than ever."

And New York's Feb. 25 issue dedicated four pages to the statement necklace trend, dubbing them "chunkers," with the tagline "nothing shy about these baubles."

Marie Claire chose to back the bangle trend, telling readers to layer them on thick: "If you can still raise your arm, you're not wearing enough," advised the style mavens.

Vogue paid baubles the biggest tribute of all in a jewelry article by Plum Sykes, paired with photos of models bedecked in jewels.

"With the price of clothing skyrocketing (you can pay $12,000 for a skirt at Louis Vuitton), jewelry—selling like gangbusters at stores like Bergdorf Goodman, Neiman Marcus and Barneys—suddenly seems like the better deal," Sykes wrote.

Cocktail rings have not lost their prowess either. As Vogue put it: "A cocktail ring that explodes like a firework, a jeweled frog atop a jade rock, a camellia with turquoise petals—the most coveted collectibles are gorgeously detailed."
Source: nationaljewelernetwork

Shane Co. employee accused of stealing $1.2M in jewelry

Police say The Shane Company in Alpharetta wasn't the only victim of an employee suspected of pocketing $1.2 million in jewels.

Suspect Sara Lane Tolar, 30, of Marietta had found a job at another jewelry store and, after working there only three weeks, had already absconded with two watches worth $17,000, police said.

Co. case. Then, Tolar told them she was working at Capetown Diamond Corp. in Roswell.

"I didn't know she was working at the other jewelry store," said Alpharetta Detective Corey Miller.

Capetown Diamond Corp.'s management wasn't aware anything was missing from its inventory, Miller said.

Tolar is charged in the theft of $1.2 million in expensive pieces from The Shane Company and $17,000 from the other store.

She faces charges of theft by receiving and theft by deception after allegedly attempting to sell some of the stolen jewelry to a Marietta jewelry store on Good Friday.

Additional charges from Cobb County may be forthcoming, said Cobb Detective David Dunkerton.

Tolar remains in the Cobb County jail. Alpharetta police will present evidence to a grand jury this month.

Miller said Tolar apparently worked alone.

Tolar worked at the Shane Company for about 18 months, but was fired in February after a store audit, Miller said.

Tolar had been working at Capetown Diamond Corp. in Roswell for two or three weeks when she was arrested.

In February, a routine company-wide audit at The Shane Company showed a discrepancy of items in the books and items in-house, Miller said.

The company determined that Tolar had been responsible for inventorying all the pieces they believed were stolen, he said.

From state records, Miller learned Tolar had transactions with jewelry stores in Cobb County.

Miller alerted Dunkerton to be on the lookout for stolen jewelry that Tolar might be selling.

The next day, a jeweler in Marietta notified Dunkerton that a woman approached him about selling him some jewelry. When the woman returned, she was arrested.

A search of her car revealed stolen jewelry worth about $63,000, Miller said. It was then the woman confessed and said she was already working at another jewelry store, he said.

Dunkerton said Tolar named or described 14 places where she had sold items.

Thus far, about 50 pieces have been recovered, Miller said. He estimated their value to be in the six-figure range. Most of the pieces were valued between $2,500 and $15,000.

"Most of that will be gone," Dunkerton said. "After 30 days, the precious metal dealers will dismantle the pieces and melt down the gold and create their own or sell the scrap gold to a wholesaler."
Source: ajc

Chopard in ring with Madonna on new album

Madonna strikes a pose in Chopard jewelry for the cover of her latest album.

Swiss luxury jeweler Chopard is getting prime placement on the cover of Madonna's much-anticipated new album, Hard Candy.

The reigning Queen of Pop dons the brand's "Happy Diamonds" cross as well as a personalized diamond knuckle ring that was designed by Chopard Co-President Caroline Gruosi-Scheufele.

The ring, crafted in the spirit of Hard Candy—which the singer describes as "a juxtaposition of tough and sweetness"—spells out Madonna's hip-hop pseudonym, "M-dolla," in 258 brilliant-cut white diamonds. A Chopard signature mobile diamond is set in the flourish of the letter M.

This isn't the first time the brand has created jewelry specifically for the star. For Madonna's 2005 Confessions on a Dance Floor album, Chopard designed the iconic pavé diamond "Hung-Up" necklace that she wore on stage.

Hard Candy is scheduled for release on April 28 on the Warner Bros. Records label.
Source: nationaljewelernetwork

Bidz.com Launches Buyz.com, Expanding Online Jewelry Offerings

Bidz.com (NASDAQ:BIDZ - News), a leading online auctioneer of jewelry, announced today the initial launch of its online retail store, Buyz.com, which offers quality jewelry at a fixed price, complementing the Bidz.com online auctions.

This initial, or beta, launch of Buyz.com, features high quality gold, silver and brand name jewelry and watches at fixed prices, the site will also offer customers to design their own jewelry, including diamond earrings and rings in the near future.

Both Bidz.com and Buyz.com sites benefit from the company’s proven ability to buy quality jewelry from sources around the world. The jewelry inventory for both is retained on site, which enables the company to quickly process and deliver all orders. Bidz.com, which grew 42% last year, sells an average of 12,000 items per day, making it one of the most popular online jewelry shopping destinations.

During this beta launch period, Bidz.com will continue to create programming and develop content for Buyz.com. The company will have the opportunity to listen to customer feedback and add new features and functions. As part of the formal launch, the company will conduct increased marketing and public relations outreach to further increase awareness.

"We are very excited about the initial launch of Buyz.com," said David Zinberg, Chief Executive Officer of Bidz.com. “We continue to successfully execute on our strategic plan and have advanced our goal of becoming the leading auctioneer and retailer of online jewelry. Our unique variety of jewelry allows consumers to choose from a broad selection of diamonds, rubies, emeralds, sapphires, and other precious and semi-precious stones. Buyz.com gives consumers the opportunity to buy quality jewelry at great prices, and gives them a wonderful, convenient alternative to the Bidz.com auctions.”
Source: yahoo

Jewelry Television Creates Tanzanian Relief Fund

Jewelry Television has created a Tanzanian Relief Fund to support people affected by the flooding disasters in the Arusha and Manyara regions of Tanzania, Africa.

Between April 1 and April 12, the network will donate 2 percent of the purchase price of each tanzanite sale to the American Red Cross. Jewelry Television is one of the largest retailers of this rare, blue gemstone.

These funds will enable the American Red Cross to support the Tanzania Red Cross Society’s humanitarian relief efforts associated with the flooding and to strengthen their capacity to respond to future disasters, the television retailer said. The fundraising effort will culminate on April 12, at the close of Jewelry Television’s annual Tanzanite Day that features tanzanite jewelry and gemstones for 24 hours.

Flooding in the tanzanite mines and surrounding areas of Tanzania has caused the tragic death of more than 75 miners and displaced thousands of people from their homes.

“Our employees and customers are deeply concerned about the disaster and we want to help in a tangible and meaningful way,” said Tim Matthews, Jewelry Television chief executive officer and president. “Jewelry Television’s mission is to open the world of jewelry and gemstones to everyone. The tanzanite mining community has played an instrumental role in bringing the rare, beautiful stone to our customers.”

“We are grateful to Jewelry Television and its viewers for their compassion in helping people affected by this tragedy,” said David Meltzer, senior vice president for International Services of the American Red Cross. “Working with our colleagues at the Tanzania Red Cross, this support will ensure that people in Tanzania receive immediate relief, and are stronger and better prepared for future disasters.”
Source: jckonline

Designers stick their necklaces out

Finola Hughes of How Do I Look? fame says both minimal and overstated jewelry will be appropriate accessory choices for this fall's ladylike looks.

Fashion is indicative of the times, and with the headlines portending a tough year ahead, expect a departure from the predominant baby-doll look and a return to grown-up chic next autumn.

Designers tapped into their serious side, sending sleek silhouettes down the catwalks at 2008 Mercedes-Benz Fashion Week in New York City. This doesn't mean all-black looks (although it can), but rather the polished appearances that dark tones tend to imply, with purple hues infiltrating many of the collections.

Still, bow-accented necklines, fur flourishes and ruffles all managed to survive the more somber takes on clothing.

Although jewelry merely played a supporting role, at most, on the catwalks, big "statement necklaces" held their own at the Feb. 1-8 event, with models frequently sashaying down the runways in major neckware. Other top trends included drop earrings, chain necklaces and bracelets.

Finola Hughes, host of The Style Network's How Do I Look?, says a return to more ladylike apparel with slender silhouettes was a strong theme at Fashion Week.

"The waist is coming back," Hughes says.

As for jewelry, Hughes observed it came in one of two ways at the shows: minimal or large and overstated.

She says both looks are interesting, and the minimal, personalized-charm look specifically lends itself to the emerging ladylike trend.

Helena Krodel, associate director of media for the Jewelry Information Center, says it was one of the better years for fine jewelry on the runways of Fashion Week.

When it comes to apparel, Krodel says, designers are moving away from the cutesy baby-doll look in favor of more sophisticated fare, in shades of blue, burnt orange, purple, green, brown and red. For jewelry, this translates to the use of opaque stones such as topaz, malachite, jade, jet, onyx and tiger's eye.

Necklaces carried a lot of importance, with U- and V-shaped versions making repeat appearances, Krodel says. One extreme example was a highly structured necklace that resembled a breastplate and was accented with dangling rectangular- and oval-shaped pendants. But multistrand necklaces dominated the runways too, ranging from Victorian styles (think white metals paired with diamonds), to those achieving an ombré effect or confetti-style mixes, with gemstones in various grades of color, Krodel says.

Even if designers kept their models necklace-free, many incorporated bows into the necklines.

"There's a lot of attention around the neck, no matter what," says Krodel, who also noted layered cuffs and brooch trends.

When it came to playing up the neckline, no one could compete with Badgley Mischka, which sent many of its models down the runway in layered necklaces or big, bold pendants. The designer also chose dangling earrings and bracelets as it channeled high-glam and day-in-the-woods, hunting-type aesthetics in many of its looks.

Though some of the jewelry was costume, Badgley Mischka teamed up with jewelry manufacturer Zalemark for several fine-jewelry pieces and also made some of its own.

Anna Sui chose to use bold accessories to complement her fall collection, with the most notable piece resembling a large, bold flower attached to a choker.

Marc Jacobs sent several of his models down the runway sporting cuffs on each wrist.

Vera Wang blew the runways away with jewelry too, playing up statement necklaces especially, as well as bold cuffs and braided rhinestone necklaces by Philip Crangi for Vera Wang.

A model wears an oatmeal-colored, knee-length, touch-shoulder dress with silver fox fur by Venexiana, paired with high-karat gold cuff bracelets by Gurhan and Coomi at Venexiana's Fall/Winter runway show at 2008 Mercedes-Benz Fashion Week in New York City. Photo: Jonas Gustavsson, courtesy of the World Gold Council and Venexiana.

3.1 phillip lim's show also sent unusual, bold necklaces on multiple trips down the catwalk.

Other designers opted for delicacy, with Jason Wu, Jonathan Saunders Rag and Bone and Carlos Miele going the more subdued route, sending a few long necklaces, pendants and bracelets down the plank.

Venexiana's Fall/Winter 2008 show shined with models sporting high-end gold jewelry designs, with cuffs and link bracelets foremost among the pieces by Angélique De Paris, Carla Amorim, Coomi, Cynthia Gregg, Doris Panos, Gurhan, Henry Dunay, K. Brunini, Mahlia Collection, Maya Jewels, Mehr-Un-Nissa, Oro Vi for Gold Expressions and Rezzadore for Gold Expressions.
Source: nationaljewelernetwork

George Switzer, 92, Dies; Started a Gem Treasury

George Switzer, the mineralogist who started the Smithsonian Institution’s vast collection of gems and minerals by acquiring the legendary, and some say bedeviled, Hope Diamond, died on March 23 in Solomons, Md. He was 92 and lived in Port Republic, Md.

The cause was pneumonia, his son Mark said.

Dr. Switzer, who also played a significant role in analyzing rocks brought back from the moon, was chairman of the mineral sciences department at the Smithsonian’s National Museum of Natural History from 1964 to 1969. He had been associate curator of the museum’s division of mineralogy from 1948 to 1964.

When Harry Winston, the renowned New York City jewelry merchant, decided to donate the 45.52-carat, steely-blue Hope Diamond to the Smithsonian in 1958, the arrangements were made by Dr. Switzer.

“That started the national collection,” Sorena Sorensen, the current chairwoman of the Smithsonian’s mineral sciences department, said in an interview Wednesday.

“At midcentury, great gemologists around the country were talking about building a national collection to rival the crown jewel collections of Europe,” Dr. Sorensen continued. “The idea for the national collection at the Smithsonian was a collaboration between Harry Winston and George.”

On Nov. 10, 1958, Mr. Winston’s wife, Edna, presented the Hope Diamond to Leonard Carmichael, then the secretary of the Smithsonian, and to Dr. Switzer. Soon after it went on display, the Hope — surrounded in a pendant by 16 white diamonds on a necklace containing 45 more white diamonds — became one of the museum’s premier attractions.

There are now about 15,000 gems, 350,000 mineral specimens, 300,000 rock and ore specimens and 35,000 meteorites in the Smithsonian collection, one of the most comprehensive in the world.

Dr. Switzer’s contributions went beyond acquisitions. In the 1970s, he played a central role in helping the museum get, through a grant from NASA, an electron probe micro-analyzer for minerals. The instrument, then new, allows scientists to determine a mineral’s origin; for example, whether it was crystallized from a molten state.

Using the micro-analyzer, Dr. Switzer and other mineralogists examined samples brought back from the moon by the Apollo 15 and 16 crews. Their work helped determine that the moon never had water on its surface and never had an atmosphere like Earth’s.

“This showed that museums could become places where cutting-edge science was carried out,” Dr. Sorensen said. “It put the Smithsonian at the forefront of instrumental technology in geology.”

Dr. Switzer also worked with other scientists on examining and naming five newly discovered mineral species. After three mineralogists — John S. White, Peter B. Leavens and Pier F. Zanazzi —analyzed pale brown crystals from North Carolina, they proposed that the manganese phosphate mineral be named in honor of Dr. Switzer. In 1967, the International Mineralogical Association approved the designation: Switzerite.

Born on June 11, 1915, in Petaluma, Calif., George S. Switzer was the son of Albert and Charlotte Ryan Switzer. Besides his son Mark, of Port Republic, Dr. Switzer is survived by his wife of 68 years, the former Sue Bowden; another son, James, also of Port Republic; eight grandchildren; and 12 great-grandchildren.

Dr. Switzer graduated from the University of California, Berkeley, in 1937, then earned a master’s degree in mineralogy in 1939 and a Ph.D. in 1942, both at Harvard. Before joining the staff at the Smithsonian in 1948, he taught at Stanford and Harvard.

As an associate curator, Dr. Switzer approached Mr. Winston and began sharing the dream of a national gem collection. Mr. Winston had bought the Hope Diamond in 1949 from the estate of Evalyn Walsh McLean, whose father had struck it rich in a Western gold rush.

There are gaps in the Hope’s provenance, but it is known to have passed through the hands of three French kings and Queen Marie Antoinette before being stolen during a looting of the crown jewels in 1792. It later came into the possession of King George IV of England and, in 1839, entered the collection of Henry Philip Hope, heir to a British banking fortune. Because of financial and other troubles that befell many of its possessors (Marie Antoinette lost her head), the diamond was said to be cursed.

When, in April 1962, Dr. Switzer carried the Hope to Paris for an exhibition at the Louvre, he began to wonder whether there was truth to the curse. Museum officials had determined that secrecy would the best security.

“My mother sewed this little velvet pouch and the Hope was put in the pouch and the pouch was safety-pinned to the inside of my father’s pants pocket,” Mark Switzer said. “The plane did a hard landing in Pittsburgh, almost tore the wing off.”

Upon arrival in Paris, nine hours late on the day the exhibition opened, Dr. Switzer got into a car with French officials. “They end up with a classic Paris fender-bender on the way to the Louvre,” Mr. Switzer said. “It was a running family joke.”
Source: nytimes

Jewelry shop finds best of both worlds

Until last year, Annapolis business owner Donna De Garcia hadn't thought of herself as a mall person.

But in recent years, the owner of downtown landmark Blanca Flor Silver Jewelry watched the Westfield Annapolis mall emerge as an upscale mix of shops and restaurants. So when mall leasing agents approached her to open a second store inside the mall's new 240,000-square-foot wing unveiled last fall, Ms. De Garcia saw their offer as a chance to expand her client base.

"It's a big attraction and a bigger mall," said Ms. De Garcia, who also will maintain operations of her store along Market Space downtown. "My sales are doing well downtown and they're doing well here, too. So there's a market for both stores."

Blanca Flor is the first downtown shop to open at the newly expanded mall. It's one of several city and regional businesses the mall is recruiting, mall officials said.

And although some say that one merchant's expansion isn't cause for concern, some observers believe a growing migration of merchants to the mall could be problematic.

"We have our work ahead of us downtown, to market the downtown area, to merchandise it," said Bob Burdon, president and chief executive officer of the Annapolis and Anne Arundel County Chamber of Commerce.

In December, Blanca Flor opened a 900-square-foot space near the courtyard of Nordstrom and California Pizza Kitchen. The mall store, which is smaller than the downtown shop, features unique sterling silver jewelry priced from $6 to $800, including the Elle line that Ms. De Garcia describes as classic and timeless. Friday and yesterday, Blanca Flor celebrated its grand opening at the mall, featuring a fashion show and runway models.

Mall Marketing Director Scott deGraffenreid said Blanca Flor is a "great addition to our tenant mix." The mall also has had discussions with other businesses in the city and throughout the region, he said.

"We have so many great operators around us, so many great concepts in this area and a lot of them would do very well in a shopping center environment," he said.

Ms. De Garcia said she felt her store could fill a niche at the mall, and operating stores between the mall and downtown was manageable, she said. Ms. De Garcia declined to provide exact figures, but she expects her mall store to bring in just as much, or more, sales volume as her downtown store.

Blanca Flor is opening at a time when retail options are growing in suburban areas across the country. In Annapolis, the $400 million Annapolis Towne Centre at Parole complex is set to open in October. Last fall, the mall unveiled its more than $100 million expansion and 60 new specialty shops.

In response to growing retail options, city merchants have focused on programs to market their locally owned shops, where customers can talk directly to the owner. Several downtown advocates said they believe Blanca Flor's mall opening is a good opportunity for Ms. De Garcia and don't think it will lead to a trend.

"I think we have a lot to talk about in a positive way about downtown Annapolis," said Clare Vanderbeek, executive director of the Annapolis Business Association. "It's a different shopper than the mall shopper."

Mike Miron, director of the city's Department of Economic Affairs, said he's aware the mall has been trying to recruit downtown businesses, but added that not every city merchant would make a good fit there.

"If it's just one business going out there, I don't think it's a problem," he said.

Bill Greenfield, a leasing agent with Hyatt Commercial who helped put Blanca Flor in its current location at Market Space, said the situation harkens back to a similar scenario decades ago. He said his family, who owned Peerless Clothing, a downtown business, as well as other city merchants were "criticized" when they opened additional stores at the old Parole Plaza. That plaza is now being redeveloped as Annapolis Towne Centre at Parole.

Everyone was worried the openings would take business from downtown, he said, adding that "of course, that didn't happen."

At one point, the mall's former owners began leasing to independent businesses, but later decided to concentrate on national tenants, feeling it was "better for their image and their portfolio," Mr. Greenfield said.

Jessica Jordan, president of the Annapolis Business Association and owner of upscale boutique Paradigm on Main Street, said if anything, the mall's effort to recruit downtown firms is a "telltale" sign that Westfield isn't able to recruit some of the national chains "as well as they thought they could."

But Dr. Eugene Fram, marketing professor at the Rochester Institute of Technology in New York, said the larger question is whether outside developments as a whole will hurt the downtown area, as they have in Rochester. The city now is trying to revive itself with a new office complex that will house the headquarters for a communications company and a bank, and the hope is that retail stores will follow, he said.

Mr. Burdon said he wouldn't be surprised if other city merchants move to the mall, and added that Blanca Flor's new location is a "warning sign" to create a "flavor" and "experience" downtown with initiatives such as the flower program and the Main Street program. "It needs to transition into a more viable experience for consumers," he said.

Blanca Flor is named after the estate where the grandparents of Ms. De Garcia's ex-husband lived on the Yucatan peninsula in Mexico. It has gained a regional reputation for its sterling silver jewelry. The couple, who formerly imported jewelry from Mexico and sold high-fashion jewelry to upscale stores such as Nordstrom, opened their first store in 1993 on Main Street and later moved it to Market Space in 1998.

They expanded with stores in Alexandria, Bethesda and Georgetown, but later closed the less-profitable and hard-to-manage Virginia and Washington stores, Ms. De Garcia said. Rigel De Garcia still operates the Bethesda shop.

The new mall location will focus on customers who wouldn't normally go downtown and customers like the Severna Park mom who already is at the mall with her teenager children, Ms. De Garcia said. Meanwhile, she is getting used to the mall atmosphere, adding that she likes to visit the Nordstrom cafe and go to McCormick & Schmick's restaurant.

"I'm enjoying being here some," she said.
Source: hometownannapolis

Neiman Marcus Security Officer Gets Jail Time for Jewelry Theft

A former security officer for a Neiman Marcus store in Dallas has been sentenced to 27 months, according to media reports.

A federal judge in Dallas on Wednesday sentenced Manuel Alvarez of Mesquite to 27 months in prison for stealing hundreds of pieces of jewelry from the retailer and selling some online, according to media reports.

Alvarez, 37, also must make restitution of more than $323,000, the Houston Chronicle reports.

In December, Alvarez pled guilty to transportation of stolen goods in interstate commerce and aiding and abetting, the Chronicle reports.

He admitted that he stole at least 400 pieces of jewelry, worth a total $200,000 to $400,000, from the store and, along with accomplices, sold them on Ebay, the Dallas Business Journal reports.

Neiman Marcus vice president Gary Manson, said in courtroom testimony, that Alvarez had been a trusted member of the Neiman Marcus team, and that theft of property by Alvarez, a loss prevention specialist for many years, had meant more than a financial loss to the company and its employees, the Business Journal reports.
Source: jckonline

A New Mexico jeweler and the missing ring

Cecilia Gardner, president, chief executive officer and general counsel of the Jewelers Vigilance Committee.

A jeweler in New Mexico who recently reached out to the Jewelers Vigilance Committee (JVC) had a real problem.

The jeweler had taken in a diamond ring for repair and subsequently performed an appraisal of the ring, valuing it at $1,500. The repair ticket reflected that value and included an assessment of the quality of the diamond, the quality of the precious metal and a description of the repair that would be undertaken.

The customer who had brought the ring in signed the repair ticket and was provided with a copy. The jeweler even photographed the ring and showed the photo to the customer before she left the ring at the store.

During the take-in process, the jeweler explained to the customer that the ring was composed of a low-quality diamond and that the damage to the ring was extensive. However, he assured the customer that it could be repaired and that he could do so for a reasonable price. The woman agreed.

For reasons that could not then be explained, the ring simply disappeared. Once it had been placed in the safe, it was removed for the repair and during the time it was undergoing the repair, it was lost. The jeweler was confident that the ring was simply not worth enough to make it tempting for any of his employees to steal. He searched every possible corner of his store—it just was not there. The jeweler speculated that it had fallen into a garbage pail and been accidentally discarded.

The jeweler contacted the customer and immediately offered to replace the ring exactly as depicted in the photo, using the same quality diamond and precious metal of the same quality as the original. As an alternative, the jeweler offered the customer $1,500 in cash or a $1,500 credit at the store.

The customer refused all offers and insisted that the only compensation for the loss of the ring was $10,000 in cash. The jeweler offered the customer $2,500, and again the party refused, assuring the jeweler that she intended to sue. Further, the customer appeared outside the jeweler's store and started to hand out flyers claiming that the jeweler was a thief. The jeweler decided to call the JVC.

The JVC gathered all the documentation and contacted the customer, explaining its alternative dispute-resolution service and securing her cooperation in participating in good-faith mediation.

The JVC carefully reviewed the appraisal, photos and agreements that were provided to the customer at the time the repair was brought into the store. The JVC explained to the customer that the jeweler had been careful at the time the repair was taken in to inform her of the true nature and value of the ring, and had also taken extensive steps to protect himself in the event of loss of the ring.

After further discussions of her chances of succeeding in court (and the expenses associated with court cases), plus a short discussion of the law of business disparagement (and what rights the jeweler might have as a result of her flyers), the customer agreed to take $2,000 to resolve the matter.

The jeweler (who had been thinking of joining the JVC for some time) immediately joined the JVC and will benefit from all the services and programs offered to our members. The customer apologized for the flyers, and the matter was put behind them.

In an odd twist, days after the case was settled, the ring was found under a tear in the carpeting in a back room of the store. The customer refused to take back the ring.

In an occasional series of articles, the JVC offers its advice on how industry members can avoid litigation in an effort to benefit the parties to a dispute, and the industry as a whole. The advice is strictly the opinion of the JVC. For more information on the JVC, go to JVClegal.org.
Source: nationaljewelernetwork

Opera diva's jewels up for bid on iGavel

Online fine art and antiques auction house iGavel.com is hosting a month of jewelry auctions on its site from March 28 through April 16.

Included in the jewelry auctions are more than 200 pieces of fine, designer and vintage jewelry from iGavel associate Litchfield County Auctions, with a selection from the estate of opera diva Anna Moffo Sarnoff.

One of the auction's premier pieces is a mid 20th-century platinum and diamond bracelet set with 287 diamonds, estimated at $8,000-$12,000. Also up for bid are several gold and diamond bracelets, including a 20th-century yellow gold bracelet with 55 princess-cut diamonds, estimated at $5,000-$7,000, and a 20th-century white gold bracelet, with 65 square-cut sapphires and three princess-cut diamonds.

The auction also includes a selection of fun items from Sarnoff's estate, including a transistor AM/FM radio, circa 1970, encased in 14-karat gold and inscribed with "RWS RCA" on the front and "RWS-DT and AR" on the back.

The "RWS" stands for media mogul Robert Sarnoff, late husband of Anna Moffo and former head of RCA.

Also available for bid on iGavel is a Verdura sterling silver box inlaid with 14-karat gold, a gift by the late American composer and songwriter Cole Porter to his wife, Linda, around 1928.

The early 20th-century box, retailed by "Jewelers to the Stars" Flato Jewelers, has a 14-karat gold monogram on its lid labeled "CP."

The story associated with the box is that each time a new Cole Porter production opened, Porter gave a presentation box to his wife.

IGavel auctions are modeled on a traditional live auction format, where each lot includes detailed photographic images, a professional description and an accurate condition report. Lark E. Mason, president of iGavel, is a frequent guest appraiser on the Antiques Roadshow, was formerly a senior vice president with Sotheby's Chinese Works of Art Department, and director of online auctions for Sothebys.com.

IGavel is holding its own jewelry sale from March 31 to April 16.
Source: nationaljewelernetwork

Friedman’s Appeals for Store Closings

After an auction whose results it was “not satisfied” with, Friedman’s Jewelers has now informed in U.S. Bankruptcy Court it wants to close most of its stores.

Friedman’s, currently operating in Chapter 11, is also in negotiations to sell 78 of its stores to WFC Acquisition Corp.

An attorney involved in the case said that WFC was an affiliate of Whitehall Jewelers.

Court papers say that, after it was “not satisfied” with the results of a March 6 auction, Friedman’s entered negotiations with the high bidder.

However, those negotiations did not produce a “satisfactory” agreement, and the negotiations were terminated March 25, with the exception of the current talks with WFC.

The papers continue that Friedman’s is determined that the “best way to maximize the value of their remaining assets … is to close their stores over the next several months.”

Friedman’s request will be ruled on in a court hearing April 4.

The attorney expected the motion to be approved, but noted “it’s always possible someone might come in at the last minute and said he’d like to bid.”

When it filed for Chapter 11, Friedman’s operated 388 stores in 19 states, and employed 2,890 people. Its subsidiary Crescent operates 85 stores in three states, and has more than 600 employees.
Source: jckonline

Finlay Reports $10 million Loss for the Year

Finlay Enterprises, Inc. reports that fiscal 2007 sales, ended Feb. 2, 2008, increased 13.1 percent to $835.9 million compared fiscal 2006. Specialty jewelry stores contributed sales of $223.8 million in 2007 as compared to $108.2 million in 2006. Same-store sales in 2007 decreased 1.4 percent. Including discontinued stores, comparable store sales in 2007 decreased 1 percent.

For fiscal 2007, the company reported a loss from continuing operations of $10.3 million, compared to a loss of $8 million for fiscal 2006. As noted above, fiscal 2007 includes a pre-tax non-cash charge of $3 million for the Congress goodwill impairment. Excluding this charge, the loss from continuing operations would have been $8.5 million. EBITDA for fiscal 2007 totaled $30 million, compared to $24.3 million in the prior fiscal year. Excluding the goodwill impairment, EBITDA for the current fiscal year would have been $33 million, said the company, which operates luxury stand-alone specialty jewelry stores and licensed fine jewelry departments in department stores throughout the United States.

Income from discontinued operations for fiscal 2007 totaled $200,000, compared to income of $12.5 million. For fiscal 2007, the company reported a net loss on a consolidated basis including discontinued operations of $10 million, compared to net income of $4.4 million in the prior fiscal year period. Excluding the goodwill impairment in fiscal 2007, the net loss would have been $8.2 million.

"Our business was clearly impacted by a difficult retail environment during the past holiday season," said Arthur E. Reiner, chairman and chief executive officer of Finlay Enterprises, Inc. "For the first two months of fiscal year 2008, we have  had a decrease in comparable store sales of approximately 5 percent, but have continued to manage our inventory in a disciplined manner, as reflected in a 5 percent decrease as compared to the prior year period.  Additionally, we are responsibly controlling expenditures to maximize cash flow as we navigate our business through a challenging economy. We remain excited about the opportunities to further expand and diversify into the luxury jewelry store sector and intend to remain focused on optimizing our leased department store business during a period of consolidation."

Effective with 2008, the company said it will no longer provide quarterly sales or earnings guidance. The company will continue to report sales and earnings quarterly and to provide sales and earnings guidance on an annual basis.

For the fourth quarter, ended Feb. 2, 2008, Finlay said that sales increased 24 percent to $383.1 million compared to same period of 2006. Specialty jewelry stores consisting of Carlyle, Congress, and Bailey Banks & Biddle, contributed sales of $145.9 million for the fourth quarter, as compared to $51.6 million for the same period last year. Same-store sales for the fourth quarter decreased 6.4 percent on a continuing operations basis.

The company reported income from continuing operations of $13.4 million compared to $12.2 million for the same period of the prior fiscal year. The figures includes a pre-tax non-cash charge of $3 million for the impairment of goodwill at our Congress specialty jewelry store division. Excluding this charge, income from continuing operations would have been $15.3 million.

Income from operations before depreciation and amortization expenses for the fourth quarter totaled $38.4 million, compared to $30.1 million in the prior year period. Excluding the goodwill impairment, EBITDA for the fourth quarter this year would have been $41.4 million.

Income from discontinued operations for the fourteen weeks ended Feb. 3, 2007, totaled $4 million and net income on a consolidated basis including discontinued operations totaled $16.2 million. There were no discontinued operations in the fourth quarter of the current year.

For fiscal 2008, Finlay projects consolidated same-store sales will be approximately flat to positive 1 percent for the year. In the licensed business, same-store sales are expected to be in the range of negative 0.5 percent to positive 1 percent. For the specialty stores, the company expects an increase in same-store sales in the low-to-mid single digit range. Same-store sales will not include sales from Bailey Banks & Biddle until fiscal 2009.

In 2008, the company plans to open 10 new doors and close 15 doors, not including the 94 Macy's North and Northwest departments and the 47 Lord & Taylor departments which are scheduled to close at the end of the fiscal year. Included in the openings are four Carlyle stores and two Bailey Banks & Biddle stores.

The company currently anticipates sales for fiscal 2008 to be approximately $1 billion. The specialty jewelry stores are projected to achieve sales in fiscal 2008 of approximately $400 million to $410 million. Projected EBITDA for the fiscal year is expected to be in the range of $33 million to $35 million. With an estimated LIFO charge of approximately $10 million, EBITDA on a FIFO basis is expected to be in the range of $43 million to $45 million.  These EBITDA estimates include $1.6 million for severance, as described below.

The company anticipates total one-time charges of $3.7 million associated with the Macy's and Lord & Taylor store group closings. The one-time charges are expected to be comprised of $1.6 million for severance and $2.1 million for accelerated depreciation.

The company projects significant reductions in asset inventory primarily as a result of the store closures and therefore it says it expects to generate free cash flow in the range of $20 million to $25 million. This is expected to result in a reduction in its year end revolver position to approximately $200 million to $205 million in borrowings. The expected revolver position compares to $224 million at the end of fiscal 2007, at which time the excess availability on its revolving credit facility totaled $144 million. The forecasted peak on the revolving credit facility in fiscal 2008 is approximately $360 million.  At the low point of availability on the line, the company projects having approximately $50 million in excess capacity.
Source: jckonline

Italian Gold Jewelry Demand Down 30% in Q108

The first quarter of 2008 saw a 30 percent drop in the amount of gold jewelry purchases in the Italian jewelry sector, a result of declining consumer demand, Ivana Ciabatti, the head of Italian precious metals trader, Italpreziosi, told Reuters.

Ciabatti attributed the drop in demand to economic and financial uncertainty and to the fact that gold is “not a primary necessity.” “The situation in Italy in the first quarter [was] very dramatic,” she noted, although she expressed hope that the situation would improve in the second quarter if the price of gold became more stable.

In times of past economic unease, Italians have preferred to invest in gold bullion rather than jewelry, Ciabatti explained, although old jewelry is often sold off by poorer people to raise quick cash. “People don’t trust other investments, and gold has returned to be a safe haven investment (in the recent past),” she said.

Those familiar with the Italian market argue that it is the manufacturers who are hurt first and hardest by steadily rising precious, due to buyers putting off orders as they wait to see if prices will stabilize.

A manager of Italian gold and steel jewelry manufacturer Ka-ti commented, “The sector is in crisis. With gold prices as they are now, people are not buying.”

The price of gold has been rising rapidly since the beginning of the year, although it has fallen approximately 7 percent in the past week to less than $900 per ounce, a result of a strengthening of the dollar against the euro. Gold passed a record $1,000 per ounce in mid-March.
Source: idexonline

Excavation turns up oldest gold jewelry in the Americas

Researchers have discovered the oldest piece of gold jewelry ever found in the Americas, an academic journal reported Tuesday.

A gold and turquoise necklace, made 4,000 years ago, was found in a burial site near Lake Titicaca.

A team found the gold necklace near Lake Titicaca in Peru, according to the journal Proceedings of the National Academy of Sciences. It's 4,000 years old -- 600 years older than any other gold jewelry discovered in the Western Hemisphere.

The anthropologist who discovered the gold, Mark Aldenderfer, told CNN on Tuesday night that he sensed the importance of his find after noticing a glint while excavating a site with human remains.

"It appeared to be gold. That's when I knew we had something special," he said. "This was a complete shock."

He found the necklace about seven years ago, he said, but researchers kept quiet for fear that looters would raid the site. They also wanted to allow time for chemical analysis before announcing their discovery on Tuesday.

Video footage from Peru shows a necklace of nine gold tubes separated by 10 stones.

The find is important, Aldenderfer said, because it signals the early emergence of a desire for status among people who lived as relative equals without a formal leadership system.

The Andean people of that time, Aldenderfer said, had recently settled down after many generations as hunter-gatherers. Formal kings would not emerge for hundreds of years.

The person who wore the gold necklace may have sought to distinguish himself with a status symbol, Aldenderfer said.

The artifact is in the custody of the National Institute of Peru and may be displayed in a museum, he said.
Source: cnn