Housekeeping note … Next week I will be at the 33rd World Diamond Congress  in Shanghai.  Time and technical issues permitting, I hope to post while I’m there (as well as do this round-up) …

US bankruptcies down in 1Q. Surprising.

Zale sales up 6.3%.  

- Due to “liquidation.”

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A recent post on a blog called "Branding Strategy Insider" argues that it's impossible for companies to go "upscale" (and mentions Zale.)

This is becoming a big issue for our industry. Chains (yes, including Zale) are looking into going upscale to avoid getting in price wars with Wal Mart. And independents are trying to go upscale to avoid competing with chains, Blue Nile, and the rest.

I will agree that, as with most things in life, going uphill is harder than going down. But I think it can be done. I would consider Kay an example of a jeweler that has much better consumer and trade perception today than when I started in this business. 

I've also seen it happen. My old neighborhood -- the ...Read More

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De Beers’ big Forevermark "kick-off" last week may turn out to be a seminal event in the history of the diamond industry.  

De Beers is making it clear that it no longer wants to support the rest of the diamond market with its advertising. Instead, it's putting considerable marketing muscle behind the Forevermark -- basically its entire $200 million marketing budget, except for the U.S. The Forevermark is being looked at as not just a brand, but a possible profit center.  The presentation said it will be comparable to the &ldquo...Read More

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And here is the week that was …
 

De Beers starting a lab.

- Forevermark release.

- Could branding hurt beneficiation?

Whitehall gets new CEO.  

- One note: I have to say that Whitehall is one of the strangest big companies I have ever covered. They always have contact names on the bottom of their releases, but those na...Read More

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So the big news in the De Beers Group's latest release on the Forevermark is it will be starting a lab.

Yes, a lab. Just like GIA, and IGI, and all the others .... (There had been buzz on this; see here.)

The plan is to have two grading labs, one based in Antwerp, the other in the company’s research facility in Maidenhead.

Is this competition for GIA and company? Well, Ellie Goss, head of global public relations for De Beers Group marketing, notes that, whil...Read More

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Here is a variation of what’s become a very common, very depressing story – but with a unique twist. (And before we go on I should note that, while I am going to keep this tasteful, the topic is, umm, a little on the risque side. So be forewarned.)

Bruce D. Verstandig has been in the diamond business for nearly 30 years. His family had a sight in the eighties, and he was on the board of the Diamond Dealers Club and MJSA. But now he’s giving it up, with the exception of his “used jewelry” site, jewelryway.com. Last year he shut his office in 589 Fifth Avenue, and he is selling the URL he controls, jeweler.com (and says any interested parties...Read More

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The big news on the DTC’s new sightholder list (accessible here)  is that one company that the DTC intended to offer a contract to in December has now not been offered one. The company was one six proposed new clients on the DTC (UK) list (now five.)

“It was not a Best Practice Principles issue,” is all spokeswoman Louise Prior will say.

(Here are Rapaport’s...Read More

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Sometimes people say reporters focus only on bad news, so I will note that I’ve heard almost uniformly positive reviews for the Basel show, which means possibly that things are waking up a bit. There didn’t seem to be many American buyers, but Basel is not generally considered an indicator of the American market. It’s safe to say things are still pretty slow in the U.S., as everyone gets ready for Vegas. There are mixed predictions about how Vegas will be: Some people think that retailers have been spending so little this year they’ll just have to replenish; others think it will be as weak as the year has been (and there are rumors of big names not coming). I am hopeful; a lot of money is being pumped into this economy. We’ll see, pretty soon …

And now the news: 

Zale PRO
- could ...Read More

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As has been widely reported – including by the Daily News and the Post – New York diamond dealer Avi Taub, 28, was recently indicted for allegedly stealing consigned merchandise from other dealers. (Here’s my report on the civil case against him and his family.) He was also charged with insurance fraud and filing a false claim for allegedly falsely telling his insurance company and police he had been robbed. (If true, a pretty dumb move.)

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With speculation over big stones getting a little out of control, and leading to some unease in the market, some are guessing the increases have been fueled by hedge funds. However, I just talked to Diapsom Commodities Management, the company that plans a special fund of big stones. The company says that it hasn't even bought any stones yet, as its fund for million-dollar-plus diamonds has yet to launch. (It was  originally supposed to launch last summer; the new target date is May 20.) 

"If we had launched the fund when we wanted to, nine months ...Read More

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Can you read this? Apparently a lot of people have been seeing white space when they click on posts (the text is there, you have to scroll down a bit), instead of how it’s supposed to look. If this a problem for you, could you please write me at rbates@reedbusiness.com, and tell me what browswer you are using (It tends to happen with Explorer, version 6) … Thanks!

Here now the news …

Whitehall purchases 78 Friedman’s stores.

JSA: Jewelry crime ...Read More

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