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April 6, 2009
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TOP STORIESBetter-than-Expected BaselWorld 2009 Report: Niwaka Files for Bankruptcy, Closes N.Y. Store  Zell Bros. to Close Unless Buyer is Found Harry Winston Q4 Sales Down 37% JA Fights LIFO Repeal From Our BlogsCutting Remarks by Rob Bates Diamond Shavings: Your Friday Web Roundup The mood (and it seems the economy) has improved a bit, but we are clearly not out ... Read On » Cutting Remarks by Rob Bates Gitanjali: We'll Still Expand With chairman Randy McCullough’s departure, and the general economic climate,... Read On » Cutting Remarks by Rob Bates Robbins Brothers Bidder: It's Us or Nothing There have been a lot of objections to the proposed "sale" of Robbins Bro... Read On » Jewels on Jewels by Cynthia Sliwa Customer Watch: The Lightness of Being: Translucence The large statement necklaces and bracelets in fashion this last several months can l... Read On » MORE INDUSTRY NEWSGottschalks to Liquidate Gemfields Reports Mixed Results WFDB Clarifies Trade Warning With Zambia 18k Rolex Daytona Fetches $313,610 at Auction Instore Show to Honor ‘Cool Store’ Winners |
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BaselWorld 2009, the world’s biggest watch and jewelry trade show closed today (Apr. 2) and the verdict on business there in this year of global final crisis? 
Japanese jeweler Niwaka is liquidating its U.S. operations and closing its store on Fifth Avenue and 49th Street, according to a report in Crain’s New York. 
Luxury jewelry retailer and diamond miner Harry Winston Diamond Corp. reported that fourth quarter consolidated sales declined by 37 percent, year-over-year, to $118.4 million. 
Jewelers of America has begun a campaign to aggressively oppose a repeal of the last-in, first out inventory accounting method, which President Barack Obama has proposed in his FY 2010 budget. 
U.S. regional department store chain Gottschalks will be liquidated after it failed to attract a buyer, Reuters and other media reports. 
Gemfields plc. reported a significant increase in emerald production at its Kagem mine in Zambia while realizing few actual gemstone sales along with a large financial loss for the six-month period, ended Dec. 31, 2008, due to the worldwide economic crisis. 
The World Federation of Diamond Bourses has clarified its warning not to trade in conflict diamonds from Zimbabwe. In an updated statement issued Friday, the federation said the warning pertains in particular to diamonds originating from the Marange deposits. 
Watch auctioneer Antiquorum took in more than $4.7 million at its auction in Geneva titled "Important Collector's Wristwatches, Pocket Watches, Clocks and Horological Tools," held March 28 and 29. 
The Instore Show is hosting a celebration of its Cool Store winners, past and present. The event acknowledges the 70 stores selected and judged on the appearance, marketing strategies, individuality, and the cool story that makes their store unique and successful. 
