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February 16, 2009
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TOP STORIESDe Beers Diamond Jewellers Names U.S. CEO Fortunoff May Close Wetsbury Flagship #Ad:2054_v2_Pos2_336x280#
AGTA Says GemFair Tucson Attendance Down 19% Collectors Universe Jewelry Revenue Down 25% Online Jewelry, Watch Sales Down 12% in 2008 From Our BlogsCutting Remarks by Rob Bates Diamond Shavings: Your Friday Web Roundup Be interested in how Valentine’s Day shapes up … My sense is it w... Read On » Jewels on Jewels by Cynthia Sliwa Ad Watch: Jewelry in Meters, Not Millimeters With digital photography allowing all manner of images to be reproduced on fabric, th... Read On » Cutting Remarks by Rob Bates De Beers: Wooing Back Its Exes? We talked last week about De Beers’ plan to sell its “surplus rough&rdq... Read On » Cutting Remarks by Rob Bates Fortunoff -- The Sores As with so many other retailers in Chapter 11, Fortunoff, whose assets will be auct... Read On » MORE INDUSTRY NEWSJCK Jewelers Choice Awards Platinum Winners GIA Awards 2009 Richard T. Liddicoat Scholarships Zale Sued Over 'Love Rocks' Campaign Gemfields Names New CEO Man Sang Sales Down 12.8% NRF: January Sales Down 2.1% Foot Traffic Falls 12.9% in January, Sales Down 3.8% Forevermark Unveils the ‘Precious Collection’ Jewelry.com Unveils Updated Web site Dubai Pearl Forum Stresses Opportunity Watch Rep. in Talks with DHS about Tariffs Kotahwala Named IDCA President SimplexDiam Acquires $25M in Inventory |
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Hamida Belkadi has been named chief executive officer of De Beers Diamond Jewellers US, effective immediately. 
Fortunoff notified employees that it may be forced to eliminate jobs at its flagship Westbury, N.Y., store as soon as Feb. 13 and eventually close the location if the company is unable to find investors or a buyer, Newsday reports. 
The American Gem Trade Association said attendance was down at the 2009 AGTA GemFair Tucson, held Feb. 4-9, compared to last year and buying was conservative. Although buying activity was slower, many companies were still in Tucson to restock their inventory with gemstones, pearls, and finished jewelry. 
Collectors Universe, Inc. reported a 10 percent decline in net service revenues of $8.1 million and a loss from continuing operations of $10.8 million for the second quarter of 2009. This compares to net service revenues of $9 million and a loss from continuing operations of $1.4 million for the second fiscal quarter of 2008. 
Retail e-commerce grew 6 percent in 2008 to $130.1 billion, representing a substantially lower growth rate than in previous years, according to digital tracking firm comScore. Jewelry and watch sales for the year declined 12 percent. 
Platinum Guild International USA has announced the winners in the “Platinum Jewelry” categories at the second annual JCK Jewelers Choice Awards 2008. The competition is the first industry design contest to conduct all judging via the Internet and allows retailers to serve as the official judges. 
Katie Kruger of Clearwater, Minn., and Jeremy Small of Indianapolis are the 2009 Richard T. Liddicoat Scholarship recipients. 
Love Rocks by JAGS Ltd. has sued Zale Corp. Thursday, accusing it of trademark infringement for Zale's use of "Love Rocks" as part of an advertising campaign to sell diamonds, The Dallas Morning News reports. 
Gemfields Resources has named Ian Timothy Harebottle as CEO, effective immediately. He replaces Sean Gilbertson who held the position since June, 2008. 
Man Sang Holdings, Inc. reported that net sales for the nine months ended Dec. 31, 2008, fell 12.8 percent to HK$277.8 million ($35.8 million). Revenues from its pearl operations totaled HK$266.8 million ($34.4 million) and revenue from its real estate operations totaled 11 million ($1.4 million) for the period. 
Retail industry sales for January (which exclude automobiles, gas stations, and restaurants) increased 0.5 percent seasonally adjusted from last month and decreased 2.1 percent unadjusted year-over-year, according to the National Retail Federation. 
Foot traffic in U.S. retail shopping centers for the month of January fell 12.9 percent while retail sales posted a 3.8 percent decline for the same period, according to ShopperTrak RCT Corp. 
The Forevermark diamond brand introduced the Forevermark Precious Collection at the Landmark Central, Hong Kong, on Tuesday. 
Jewelry.com launched its redefined site Thursday “with a broader scope and the mission of fusing together savings and style in a new online jewelry world that answers the needs of today's consumers.” 
Regional and international pearl experts from 20 countries will come together for the inaugural World Pearl Forum, being held Feb. 17-18 at the Atlantis hotel, Palm Jumeirah in Dubai. 
Avi E. Soffer, founder and director of Operations of The Watch Dealers Network (TheWDN.com), says he has begun discussions with The U.S. Department of Homeland Security, customs division in an effort to lower taxes and tariffs on watch and jewelry imports and exports between the U.S. and other countries. 
The Indian Diamond & Colorstone Association announced the results of its 2009 board of directors elections. The newly elected office bearers will serve for a year. 
