JCK eMonday - October 16, 2006
Dear Reader, Several surveys and reports were released this past week. Leading the pack is JA's "2006 Cost of Doing Business Survey," which examines how the jewelry industry fared in the previous year. Acquisitions and personnel moves have led business news as of late. Among the changes are new owners for two well-known jewelers, new leadership for jewelry supplier, and the outright purchase of a created gemstone business. India's top gem and jewelry organization has new leadership. Two holiday spending projection surveys and an economic analysis on September retail sales are among the reports released this past week. Keynote speaker announced for MJSA's annual meeting. Ellen Barkin's auction of her personal jewelry sets new records. Leading luxury researcher explains the shopping phenomenon in a new book. De Beers' minority-controlled company awarded mining rights. And, a diamond company releases new jewelry line.1. JA Survey: Retail sales growth dropped 2 percent in 2005
2. New owners for Shreve, Crump & Low and Schwarzschild Jewelers
3. Slawitsky named president of Kassoy
4. Swarovski acquires all of Signity Group
5. Sanjay Kothari named chairman of GJEPC
6. Survey: Consumers to spend on average more than $1,000 for the holidays
7. Jewelry purchases may face stiff competition this holiday season
8. Senator Reed to deliver keynote address at MJSA’s annual meeting
9. Love on the rocks earns $20 million for Ellen Barkin
10. Report: Lower gas prices fuel retail sales in September
11. New book explains consumers' love for shopping
12. DBCM receives rights to Voorspoed Mine
13. JB Diamonds introduces Soul Mate jewelry collection in Asia For more news and updates, please go to the JCK magazine Web site at www.jckmagazine. com. 1. JA SURVEY: RETAIL SALES GROWTH DROPPED 2 PERCENT IN 2005
Jewelers of America said that overall sales growth was to 3.9 percent in 2005, a drop from the 6.1 percent of growth recorded in the prior year. To read more click here.
2. NEW OWNERS FOR SHREVE, CRUMP & LOW AND SCHWARZSCHILD JEWELERS
Boston’s Shreve, Crump & Low and its sister company Schwarzschild Jewelers in Richmond, Virg., have new owners. To read more click here.
3. SLAWITSKY NAMED PRESIDENT OF KASSOY
Joanne Slawitsky has been named president of Kassoy, LLC, a supplier of jewelry supplies and label and bar code solutions. To read more click here.
4. SWAROVSKI ACQUIRES ALL OF SIGNITY GROUP
The Swarovski Group has acquired Golay Buchel’s share of the Signity Group, which supplies precision-cut genuine and created gemstones. To read more click here.
5. SANJAY KOTHARI NAMED CHAIRMAN OF GJEPC
The Gem & Jewellery Export Promotion Council of India elected Sanjay Kothari as chairman, replacing Bakul R. Mehta. This is Kothari’s second term as chairman, his first was from 2000-2004. Vasant Mehta was elected vice chairman, taking over from Navin D. Mehta. Both will hold office until September, 2008. To read more click here. 6. SURVEY: CONSUMERS TO SPEND ON AVERAGE MORE THAN $1,000 FOR THE HOLIDAYS
Gift givers have spent on average $1,034 on gifts for holidays and occasions through July 2006, nearly 20 percent more than they spent in the same period last year. If they continue buying gifts for friends and family at their present rate, total gift spending could top over $2,250 this year—a 12 percent rise over average spending in 2005, according to Unity Marketing’s Gift Tracker quarterly purchasing study of gift givers. To read more click here.
7. JEWELRY PURCHASES MAY FACE STIFF COMPETITION THIS HOLIDAY SEASON
Half of consumers who responded to a recent Internet survey said they plan to spend up to $300 on entertaining this holiday season, with another quarter expecting to dole out $1,000 or more on Christmas cheer. More then a quarter of respondents plan to travel for the holidays, while another quarter is looking to make home improvements, with 66 percent planning to spend more than $500. These purchases are competing for holiday discretionary dollars that could be going to fine jewelry and watch gifts. To read more click here.
8. SENATOR REED TO DELIVER KEYNOTE ADDRESS AT MJSA’S ANNUAL MEETING
U.S. Senator Jack Reed (D-RI) will be the keynote speaker at MJSA 103rd Annual Meeting, to be held Nov. 8, at the Rhode Island Convention Center in Providence. To read more click here.
9. LOVE ON THE ROCKS EARNS $20 MILLION FOR ELLEN BARKIN
Actress Ellen Barkin's jewelry from her failed marriage netted $20.3 million at auction Tuesday. To read more click here.
10. REPORT: LOWER GAS PRICES FUEL RETAIL SALES IN SEPTEMBER
Lower fuel prices led to an increase in retail sales, particularly in nondurable goods, according to a recently released economic report. To read more click here.
11. NEW BOOK EXPLAINS CONSUMERS' LOVE FOR SHOPPING
A new book by Pam Danziger, "Shopping: Why We Love It and How Retailers Can Create the Ultimate Customer Experience," answers the big question in retail: How do we sell more? To read more click here.
12. DBCM RECEIVES RIGHTS TO VOORSPOED MINE
De Beers Consolidated Mines has been granted a new order mining right to mine for diamonds at the Voorspoed Mine in central South Africa. To read more click here.
13. JB DIAMONDS INTRODUCES SOUL MATE JEWELRY COLLECTION IN ASIA
SoulMate diamond jewelry was introduced to the Asian market this week following its American launch. The collection of fine jewelry features two diamonds cut from one original rough stone then set into two pendants or rings to be shared by two people to form a bond. 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
