JCK eMonday - December 11, 2006
Dear Reader,
A jewelry chain may be acquired by a DTC sightholder. Hip-hop mogul creates fund for African people. A death in Belgium, under unusual circumstances, has enraged diamond dealers in Antwerp. Jewelry consumers open their wallets during the holidays. Movado reports strong sales while it announces a new partner. QVC has some new leadership for its international operation. Leading gem laboratories grab top gemologists. GIA board has a new member. And, the government issues a recall of children's jewelry.1. Samuels Jewelers are in Ownership Talks with Digico
2. Russell Simmons Forms 'Diamond Empowerment Fund'
3. Diamond Dealer in Belgium Dies During Police Raid
4. Survey: Thanksgiving Weekend Jewelry Purchases Were 'Spontaneous' and 'Unexpected'
5. Online Jewelry and Watch Sales Up 69%
6. Movado Third-Quarter Sales Rose 17 percent
7. Movado Named Official Watch of the Kennedy Center
8. David Frey Named President of QVC International
9. SSEF, Gübelin, and GIA Thailand Add Staff; Koivula Recovering
10. PR Firm Opens Fine Jewelry Showroom in LA
11. Children’s Necklaces Recalled Due to Lead Poisoning Hazard
For more news and updates, please go to http://email.jckgroup.com/cgi-bin4/DM/y/h2VK0IgBJs0B4Y0Erwd0EM. 1. SAMUELS JEWELERS ARE IN OWNERSHIP TALKS WITH DIGICO
Samuels Jewelers, Inc., one of America’s leading specialty retailers of fine jewelry, confirmed it is in discussions with a buyer to acquire a majority ownership in the Austin, Texas-based jewelry chain from its majority owner, funds managed by DDJ Capital Management, LLC. JCK has learned that the proposed buyer is Digico, an Indian sightholder and best known as the buyer of Leading Jewelers of the World. To read more click here.
2. RUSSELL SIMMONS FORMS 'DIAMOND EMPOWERMENT FUND'
Speaking at a packed press conference Tuesday, Russell Simmons, director of the Simmons Jewelry Company and noted rap producer and businessman, announced the formation of a "Diamond Empowerment Fund " following a trip to Africa touring diamond mines. To read more click here.
3. DIAMOND DEALER IN BELGIUM DIES DURING POLICE RAID
Much of Antwerp's diamond sector was closed for business Friday to protest the death of a diamond dealer while under police custody, according to published reports. To read more click here.
4. SURVEY: THANKSGIVING WEEKEND JEWELRY PURCHASES WERE 'SPONTANEOUS' AND 'UNEXPECTED'
During the Thanksgiving weekend holiday, a large percentage of jewelry purchases were "spontaneous" and "unexpected" and highlighted by the "me" purchaser, according to a recent Internet survey. To read more click here.
5. ONLINE JEWELRY AND WATCH SALES UP 69%
From Nov. 1 through Dec. 3 online sales reached $12.42 billion, an increase of 25 percent versus the same period a year ago, according to comScore Networks. This gain is being driven by a 17 percent increase in the number of online buyers, coupled with a 7 percent increase in the average dollars spent per buyer. To read more click here.
6. MOVADO THIRD-QUARTER SALES ROSE 17 PERCENT
Movado Group said Thursday that net sales for the third quarter rose 17.3 percent to $24.5 million, which includes $12.1 million of excess discontinued product. Same-store sales for the same period, ended Oct. 31, increased 0.5 percent at the company's Movado boutiques, from 10.6 percent percent last year. To read more click here.
7. MOVADO NAMED OFFICIAL WATCH OF THE KENNEDY CENTER
Gemological Science International, which focuses on grading needs of major retailers, is providing a growing number of its clients with customized grading reports to be used as selling tools for their branded jewelry collections. To read more click here.
8. DAVID FREY NAMED PRESIDENT OF QVC INTERNATIONAL
QVC, Inc. on Wednesday announced the promotion of David Frey to president of QVC International, effective Jan. 1, 2007. Frey will assume the role currently held by Bill Costello, whose retirement was announced in 2005. Costello, who will retire in March, 2007, also serves as chief operating officer and chief financial officer for the West Chester, Pa.-based multimedia retail channel. A successor to those positions has not yet been announced. To read more click here.
9. SSEF, GÜBELIN, AND GIA THAILAND ADD STAFF; KOIVULA RECOVERING
The world’s leading gem laboratories continue to grab top gemologists, with three labs making moves during the past week. To read more click here.
10. PR FIRM OPENS FINE JEWELRY SHOWROOM IN LA
D'Orazio & Associates, a public relations firm specializing in high-end jewelry, recently opened a new promotional showroom in LA's chic Melrose district. The private showroom is the first of its kind to open in Los Angeles, and features fine jewelry from designers such as Bochic (New York), Frey Wille (Austria), Hellmuth (Germany) and Zorab Atelier (France). To read more click here.
11. CHILDREN’S NECKLACES RECALLED DUE TO LEAD POISONING HAZARD
The U.S. Consumer Product Safety Commission issued a voluntary recall of "Children’s Mood Necklaces and Diva Necklaces." Consumers should stop using recalled products immediately unless otherwise instructed, CPSC said in a statement. To read more click here.
That's all for today!
The Editors of JCK eMonday
