Leading Jewelers launches new brand program

Leading Jewelers of the World (LJW) introduced a new, multi-tiered brand-positioning program for the association last week during the JCK jewelry show in Las Vegas.

Core elements of the program include a redesigned Trustmark Corporation, titled "The Mark of Distinction," a new LJW Pledge to be adopted by each current and future LJW Honoree and presented in-store, a new multi-element, occasion-driven advertising campaign, a new Web site and new point-of-sale signage and materials.

"All of us involved with this new initiative are very excited about the opportunity that it offers select retail jewelers who want to differentiate themselves in their respective markets," LJW Executive Director Michael Barlerin said. "Becoming a Leading Jeweler of the World Honoree, and maintaining that designation on an annual basis, will provide significant benefits to a retailer."

Barlerin also noted that with many of the industry's associations, service providers and buying groups trying to develop brands with a consumer-communication element, "LJW is the only organization for which the consumer, and consequently consumer communication, is the essence of its brand."
Source: nationaljewelernetwork

Gitanjali acquires silver jewelry brand Lucera

Lucera is known for its sterling silver, 18-karat gold and diamond jewelry at affordable prices.

The Gitanjali Group has announced the acquisition of Renaissance Jewellery's Lucera Jewellery, strengthening its position in the silver jewelry market.

Renaissance Jewellery markets Lucera premium silver jewelry in India through its wholly owned subsidiary Renaissance Retail Ventures.

Gitanjali plans to extensively broaden the Lucera brand portfolio to include lifestyle accessories such as designer watches, belts and bags. In addition, it plans to open five more Lucera Jewellery stores across India this year in Aurangabad, Kanpur, Nagpur, Pune and Rajkot.

Lucera Jewellery is currently sold in nine flagship stores and 32 shops in the country.

According to Gitanjali, this acquisition is in line with the company's plan to consolidate its position as a pioneer of branded jewelry in India and to move forward into the lifestyle arena.

"We are aggressively pursuing opportunities that will synergize with the company's philosophy to add incremental value at every level of the supply chain, thus ensuring greater shareholder value and boost to the bottom line," Gitanjali Group Chairman Mehul Choksi said in a media release. "Also, this acquisition brings unparalleled depth and breadth of lifestyle and product offerings to existing and prospective customers of Gitanjali."

Choksi also said that silver jewelry is very popular among young people today and is an integral part of their jewelry purchases.

The aim of Gitanjali Lifestyle, the luxury and retail arm of The Gitanjali Group, is to bring in a plethora of brands that are synonymous with luxury and style, with an artery of stores and shop-in-shops that become prime destinations for luxury shoppers. The brands the company is acquiring cover major aspects of lifestyle retailing, spanning jewelry, watches and silverware.
Source: nationaljewelernetwork

'Made in China' label may damage brand

More than two-thirds of luxury consumers say where goods are manufactured is important, a Unity Marketing survey shows, meaning that moving operations to another country to cut costs may damage a brand in the long run.

Luxury consumers, classified with an average age of 46.6 and an average income of $155,700, think quality goods are made in America, as well as in Italy, France and Germany.

China, however, is a country they associate with lower-quality goods, the survey shows.

"This is important because our survey shows that 80 percent of luxury consumers feel the association a luxury goods brand has with a particular country, like Chanel has with France or Gucci has with Italy, are integral to the perception of the brand," Unity Marketing President Pam Danziger said in a statement. "Nearly as many say they will pay more for luxury goods manufactured to exacting standards and in countries where manufacturing practices are high."

The survey, which polled 1,281 luxury consumers, also shows that the desire for products manufactured in certain countries increases with age.

Consumers ages 45 to 70 were most likely to hold definite opinions on countries having higher- or lower-quality merchandise.

"Younger consumers may have not had as much time to travel, study and form opinions on the countries of manufacture for their luxury goods," Danziger said. "This is a real opportunity for luxury marketers to educate their younger consumers about the company's insistence on holding the quality-bar high, regardless of the country they use to source their goods."
Source: nationaljewelernetwork

Zale sells jewelry brand

Philadelphia icon Bailey Banks & Biddle, founded in 1832, is being sold for $200 million to Finlay Enterprises Inc., a retailer with ambitions to build its luxury-jewelry business.

Bailey Banks & Biddle, which has 70 stores in 24 states, has been owned since 1962 by Texas retailer Zale Corp.

Zale, which competes in retail jewelry with Sterling Inc., the Akron operator of Kay and Jared stores, said it wanted to concentrate on its more profitable divisions.

The sale ''is consistent with our strategy to focus on our core moderate-jewelry business and to improve our returns on capital,'' said David Sternblitz, Zale vice president and treasurer. ''Bailey Banks & Biddle stores are beautiful stores and have a tremendous tradition, but the business is less synergistic with the remainder of our corporation.''

The head of Finlay said Bailey Banks & Biddle would be a good fit as it sought to expand its share of the luxury market.

Finlay, of New York, operates luxury specialty-jewelry stores and fine-jewelry departments in department stores.

Chairman and CEO Arthur E. Reiner said the deal would also give Finlay a larger national presence and diversify its revenue streams. It could generate upward of $280 million to $300 million of new revenue for Finlay in fiscal 2008.

Sternblitz said Bailey Banks & Biddle's ''performance was below the corporate average.''

He said Zale, of Dallas, was also in the process of centralizing merchandising functions, including the purchase of diamonds, to increase efficiency. Sternblitz said Bailey Banks & Biddle, which is more of a designer-brand business, did not fit that strategy because the designers supply the product, instead of the company sourcing it directly.

Finlay, founded in 1887, is in 687 department stores, including Macy's, Bloomingdale's, Bon-Ton, Lord & Taylor and Dillard's. It had 2007 fiscal year sales of $762 million and has 4,500 employees. Its shares have been publicly traded since 1995.
Source: ohio

John Hardy Sells His Jewelry Brand

John Hardy, the jewelry designer who became a consumer recognized jewelry brand, has sold his interest in his namesake company to the President and Creative Directors of the company.

He will remain as the "brand visionary" and "brand ambassador" while the company he founded tries to expand internationally.

John Hardy jewelry sales were $150 million in 2006.
Source: diamondvues

John Hardy Sells Jewelry Brand

John Hardy has sold his stake in his namesake firm to company president Damien Dernoncourt and creative director Guy Bedarida, Women's Wear Daily reports.

Dernoncourt, 35, has been president since 2003, while Bedarida, 43, has been in his role since 1999, WWD reports. An unnamed private equity firm backed the deal and Lincoln International acted as a financial advisor. Terms were not disclosed.

Hardy’s sales in the U.S. reached $150 million last year, WWD reports. John Hardy will take the role of brand visionary and brand ambassador. His wife, Cynthia, will act as a merchandising consultant. Terri Eagle will retain the title of president and chief executive officer of John Hardy USA.

All of Hardy’s products are made on his compound in Bali, which has 800 employees.

Source: jckonline