JCK eMonday - October 23, 2006
Dear Reader,
JCK Invitational announces its speaker lineup. Friedman's settles fraud cases with 19 states as it quietly moves from its longtime home in Savannah, Ga. Jewelers can choose to get involved with a diamond program that will benefit African community projects. Charles & Colvard received some quality recognition from a business publication as it releases its quarterly results. Holiday surveys make forecasts on consumer spending, advertising for jewelers, and online retailers. NFL quarterback signs with a watch company for a national ad campaign. Fortunoff goes cutting edge. LVMH posts quarterly results. Richemont's North American chief is leaving the company. Swiss watch brand loses its founders. Hermès invests in a watch parts company. JFC names its honorees for its Facets of Hope event. And, "Women in the Know," know where to go.
1. Noted author, industry experts to appear at JCK Invitational
2. Friedman's settles consumer fraud cases
3. Socially responsible diamond program that involves jewelers
4. Charles & Colvard recognized by Forbes as one of the best
5. Charles & Colvard third-quarter sales up 7 percent
6. Shoppers are planning to spend nearly $800 for the holidays
7. Jewelers to expand their advertising this holiday season
8. Study: Online retailers will promote holidays as early as Halloween
9. NFL quarterback Matt Leinart signs with IceLink Watch
10. Fortunoff hosting emerging jewelry designers
11. Jewelry and watch sales grew 22 percent for LVMH
12. Richemont North American CEO to retire Oct. 31
13. Both Bédats leave Bedat & Co.
14. Hermès pays $19.8 million for 25 % of Swiss watch parts maker
15. JFC 2007 Facets of Hope event to honor Beasley and Berg
16. WJA announces dates for 'Women In The Know' conference For more news and updates, please go to the JCK magazine Web site at www.jckmagazine.com. 1. NOTED AUTHOR, INDUSTRY EXPERTS TO APPEAR AT JCK INVITATIONAL
Jack Mitchell, author of Hug Your Customers, is one of the keynote speakers slated to address jewelers attending the JCK Invitational, set for Feb 4-6, 2007, at the New York Hilton Hotel. Mitchell will share how his business philosophy based on "hugs"—personal touches that impress and satisfy customers—is effective. To read more click here. 2. FRIEDMAN'S SETTLES CONSUMER FRAUD CASES
Friedman's Jewelers, the nation's third-largest chain of jewelry stores, agreed to repay $2.15 million to 19 states to settle complaints that its clerks were forcing customers to purchase credit insurance when they financed jewelry purchases, which in many cases, they neither requested nor authorized, according to several reports. To read more click here. 3. SOCIALLY RESPONSIBLE DIAMOND PROGRAM THAT INVOLVES JEWELERS
SA Gems, managing partner of The Private Collection of South African Diamond program, said Tuesday that it is collaborating with GlobalGiving to help raise funds for African community projects. To read more click here. 4. CHARLES & COLVARD RECOGNIZED BY FORBES AS ONE OF THE BEST
Charles & Colvard, Ltd., the sole source of moissanite, was included as one of America's "200 Best Small Companies" by Forbes magazine. To read more click here. 5. CHARLES & COLVARD THIRD-QUARTER SALES UP 7 PERCENT
Charles & Colvard, Ltd., the sole source of moissanite, reported third-quarter net sales of $12.1 million, a 7 percent increase compared to $11.3 million in sales for the third quarter of 2005. To read more click here. 6. SHOPPERS ARE PLANNING TO SPEND NEARLY $800 FOR THE HOLIDAYS
The average consumer plans to spend $791.10 this holiday season, up from $738.11 last year, according to a recent National Retail Federation survey. In addition, shoppers will take advantage of sales and discounts during the holiday season to spend an additional $99.22 on themselves. To read more click here. 7. JEWELERS TO EXPAND THEIR HOLIDAY ADVERTISING
More than one third of the jewelers surveyed by the Jewelry Information Center said they are somewhat or very likely to expand their advertising channels this holiday season. To read more click here. 8. STUDY: ONLINE RETAILERS WILL PROMOTE THE HOLIDAYS AS EARLY AS HALLOWEEN
Nearly 40 percent of multichannel retailers said that they will start their holiday marketing earlier this year than last and more than 60 percent will begin promotions by Nov. 4. This trend is in proportion to consumer preferences, as 20 percent of online shoppers said they plan to shop for holiday gifts earlier this year and 34.9 percent will start their shopping by Halloween. To read more click here. 9. NFL QUARTERBACK MATT LEINART SIGNS WITH ICELINK WATCH
Arizona Cardinal quarterback and 2004 Heisman Trophy winner Matt Leinart has signed an exclusive, multiyear sponsorship deal with IceLink Watch, a Los Angeles-based luxury lifestyle timepiece and jewelry manufacturer. As part of the agreement, the watch company will use Leinart in its first-ever national advertising campaign slated to start in November. To read more click here.
10. FORTUNOFF HOSTING EMERGING JEWELRY DESIGNERS
Fortunoff jewelry locations will launch a program that will feature several emerging designers from all over the United States. These designers will make personal appearances at trunk shows, and have their collections featured in the stores. To read more click here. 11. JEWELRY AND WATCH SALES GREW 22 PERCENT FOR LVMH
LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, reported sales growth of 11 percent for the first nine months of 2006. Its jewelry and watch division saw a 22 percent increase in revenue during the same period. To read more click here. 12. RICHEMONT NORTH AMERICAN CEO TO RETIRE OCT. 31
Callum Barton, president and chief executive officer of Richemont North America Inc., will retire Oct. 31, capping a 31-year career with the company. However, he'll continue as a "special consultant" for three years to parent Richemont SA, the Swiss luxury goods group said Tuesday. Barton will also step down as a member of the board of directors of Richemont SA, the Group's management board. To read more click here. 13. BOTH BÉDATS LEAVE BEDAT & CO.
Both founders of Bedat & Co., the Swiss luxury watch company have resigned. The resignation of Simone Bédat, who had been chairman of its board since its founding, is effective this week. It was confirmed to JCK on Wednesday by a spokesperson for the Gucci Group N.V., which owns the watch company. To read more click here. To read a previous story on the topic, click here. 14. HERMÈS PAYS $19.8 MILLION FOR 25 % OF SWISS WATCH PARTS MAKER
The French luxury goods group Hermès said Friday that it will acquire a 25 percent share in Swiss luxury watch parts maker Vaucher Manufacture Fleurier. Its investment is valued at 15.7 million euros ($19.8 million). Vaucher is owned by the Sandoz Family Foundation. To read more click here. 15. JFC 2007 FACETS OF HOPE EVENT TO HONOR BEASLEY AND BERG
Jewelers for Children, the industry's charity, will honor H. Marvin Beasley, chairman and chief executive officer of Helzberg Diamonds, Inc., and Lee Michael Berg, president and CEO of Lee Michaels Fine Jewelry in Baton Rouge, La., at the annual Facets of Hope event on June 3, 2007, at the Bellagio Hotel in Las Vegas. To read more go to http://email.jckgroup.com/cgi-bin4/DM/y/h1E60JhsAF0B4Y0EqD20Ew To read more click here. 16. WJA ANNOUNCES DATES FOR 'WOMEN IN THE KNOW' CONFERENCE
Women's Jewelry Association's fourth Annual "Women In The Know" conference will be held on March 16, 2007, at the Fashion Institute of Technology, New York City. To read more click here.
That's all for this week! Yours,
The Editors of JCK eMonday www.jckgroup.com The Online Source for Jewelers Industry News
