TOP STORIES

I.W. Marks, Jeweler, Philanthropist, 73
Legendary Houston area business and philanthropic leader, I. W. Marks, died Thursday at 3:25 p.m. at The Methodist Hospital. The cause of death was Aden carcinoma and multi-organ failure. He was 73. » » »

Zale to Close 105 Stores, Cut 225 Jobs
Jewelry retailer Zale Corp. said Wednesday that it will close 105 stores (23 more than previously announced) and cut 225 staff positions as part of a program to generate more than $65 million in ongoing, annualized savings beginning in the company’s fourth quarter of fiscal 2008. » » »

Court Approves Friedman's Auction Request
The U.S. Bankruptcy Court in Wilmington, Del., on Feb. 22 approved Friedman's Inc.'s request to sell the leases to its stores and other assets at an auction set for March 6, the Houston Chronicle reports. » » »

Christie’s 2007 Jewelry Sales Sparkle
Dominated by diamonds, jewelry sales at Christie’s auction house totaled close to $400 million in 2007, an increase of 11 percent over 2006 ($355 million), which was already up by 27 percent over a then record 2005 ($279 million). » » »

Tiffany to Open New Store Concept in Oct.
Tiffany & Co. said Thursday that it will open its first smaller-format store in Glendale, Calif., in mid-October. » » »

From Our Blogs

MORE INDUSTRY NEWS

FTC Seeks Public Comment on Platinum Guides
The Federal Trade Commission has issued a Federal Register Notice asking for comments on its proposed amendment that would allow jewelry marketers to use the term "platinum," or an abbreviation, to describe platinum and non-platinum group metal alloy products, the Jewelers Vigilance Committee said Wednesday. » » »

Sotheby's Reports Record Sales and Income
Auction house Sotheby's reported Tuesday record revenues of $345.8 million for the fourth quarter, a 31 percent increase over the prior fourth quarter, primarily due to higher auction commission revenues. The company’s net income for the period, ended Dec. 31, 2007, was a record $102.4 million, a 46 percent improvement year-over-year... » » »

Calif. Lead in Jewelry Law to Expand March 1
Beginning March 1, a new state law expands to limit lead in adult jewelry and body piercing jewelry in California. The law, which has prohibited high lead levels in children’s jewelry since September 2007, now will include all other jewelry that is manufactured, shipped, offered for sale, or sold for retail sale in the state. » » »

Damiani Store in Milan Robbed
Anywhere from four to seven men robbed a Damiani showroom in Milan Sunday morning, by tunneling into the building, and made off with millions of dollars worth of jewels, according to media reports.... » » »

Second Indo/U.S. Jewelry Conference Slated
Based on the success of the first Indo-U.S. Jewelry Business Relationship Development Conference held in October, 2007, the Gem & Jewellery Export Promotion Council of India will again host teams from the executive suite and head buyers from the biggest U.S. jewelry retailers, from Sept. 8-13, at the Marriott Renaissance Hotel in Mumbai. » » »

Peterson to Speak at AGS Tri-State Guild Event
Jewelry industry consultant Kate Peterson of Performance Concepts will be the guest speaker during the American Gem Society Tri-State Guild dinner meeting, March 10 at Alfredo's of Rome at Rockefeller Center. » » »

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