April 24 Diamond Shavings: Your Friday Web Roundup

Hope everyone is staying healthy and safe, hanging on and hanging in. I wish the best to all my readers and their families during this difficult time. (And, please, don’t inject yourself with bleach.)

For as long as the COVID-19 crisis continues, JCK’s Jewelry District podcast will feature practical tips on how jewelers can get this through this challenging period.

In our newest episode, Abe Sherman, founder and CEO of Buyers Intelligence Group, gives his view of what jewelers need to do, including how they should look at their finances, ways to think differently, and what the post-COVID-19 landscape might look like. It’s interesting and insightful, and Abe has some great tips (as well as the best-sounding mike). Check it out here.

This week in Diamond Shavings: How to make sure your PPP loan is forgiven. Amazon used data from sellers to develop its own products. The “bored rich people” who buy big diamonds from their homes. All below.

 

JCK Las Vegas, Luxury not taking place this year.

– JCK’s list of cancellations, reschedulings (updated daily).

 

Jewelers are closed, but burglars are still active, says JSA.

Jewelry District podcast with Abe Sherman.

JCK’s list of coronavirus resources (updated daily).

 

How should stores reopen? (Or should they?)

– What to consider when screening employees for COVID-19.

– Stores struggle to get customers to wear masks.

– Will U.S. retail see a bounce back similar to China?

– Stores reopen in Germany. Shoppers still scared.

 

How to conduct a virtual ring consultation.

– How a Kay Jewelers consultant sold a $16,000 diamond online.

– Maria Tash offers “virtual piercing checkups” (subscription required).

– Five tips to doing business during coronavirus.

– Data shows less interactions with jewelers during quarantine.

 

Bloomberg: “Bored rich people” buying large diamonds from auctions.

 

The “tricky business” of marketing during a pandemic.

– Retail marketers have only tough choices left.

– Every COVID-19 commercial is the same.

 

PPP gets $310 billion in new funding.

– Second round of funding could go even faster.

– Most funds likely spoken for.

– Large companies getting SBA’s COVID-19 loans.

– Why hasn’t the money gone to actual small businesses?

– Lawsuit charges banks fast-tracked large PPP loans.

– Retail groups push for national pandemic insurance programs.

 

How PPP loan forgiveness works.

– Forgiveness may not be as easy as business owners think.

– Four steps to PPP loan forgiveness.

– Why you should “spend only what you need to spend.”

– If you can’t get PPP, here are other options.

 

Tariffs suspended for 90 days on some imports.

 

Dominion Diamond files for insolvency protection.

– Plans to reopen Ekati.

– “Wake-up call” for the industry.

– Debt looms over diamond mining slowdown.

– My thoughts: How Dominion Diamond was bled Canada-dry.

 

Lord & Taylor exploring bankruptcy filling.

 

J.C. Penney seeks $1 billion in bankruptcy funding.

 

Neiman Marcus may file for bankruptcy on Sunday.

– What we know about its potential bankruptcy.

– This is what happens when private equity debt meets a pandemic.

– Options include selling business, closing stores.

– Why it may not be doomed.

 

Macy’s may raise as much as $5 billion in debt.

– Wants to sell Bluemercury (subscription required).

 

Department stores make moves to stay afloat.

The New York Times looks at the department store’s “death.”

 

COVID-19 will make fashion’s discounting problems much worse.

– T.J. Maxx, other discounters hunker down with no online option.

 

Five trends that will reshape luxury post-COVID-19.

– Luxury fashion needs to “hibernate.”

– Why “revenge spending” may not save luxury.

 

Kering’s jewelry and watch revenue “hard hit” by COVID-19.

 

LVMH also says “fair well” to Baselworld.

– Tracing “the rise and fall of Baselworld.”

 

Ariel Adams: Watches shouldn’t be “seduced” by direct-to-consumer sales.

– Cartier launching digital platform for 2020 watch releases.

 

Crown & Caliber gets $17 million in financing.

 

Private equity fund Sycamore trying to get out of Victoria’s Secret deal.

 

Gordon Brothers acquires Laura Ashley brand.

 

Chaim Even-Zohar: India needs a “rough moratorium.”

 

Paul Zimnisky looks at what will happen to rough diamond imports.

 

De Beers slashes diamond production forecasts.

 

Bloomberg columnist: The diamond industry needs “a new story.”

 

Bank of America forecasts gold will hit $3,000.

– Gold miners suffering from airline shutdown.

 

Seeking Alpha: Is Signet a good value stock?

 

Progressive Leasing to pay $175 million to FTC in settlement.

 

Google tries to lure shoppers away from Amazon.

– Could Amazon be doing better?

– Amazon scooped up data from sellers to launch private products.

– Amazon, Target workers plan “sickouts” over worker safety.

– Amazon’s white-collar workers start to stick up for blue-collar colleagues.

– The fear inside an Amazon warehouse.

 

Nadja Swarovski “stripped of responsibilities” in management shakeup (subscription required).

– Interview with head of Swarovski U.K. division.

 

Walmart poaches marketing chief from Target.

 

Lucia Greene, former owner of Wick & Greene Jewelers, dies at 90.

 

Ernie Blom steps aside as president of WFDB.

.

Is Dan Gertler using lobbyists to subvert U.S. foreign policy?

 

Nirav Modi’s brother Neeshal offers to help out with Indian probe.

 

Going underground with a child gold miner.

 

Gold mining plan called a “threat” to eastern Idaho.

 

Everledger develops new platform to track diamond industry carbon emissions.

 

De Beers explores carbon-zapping powers of kimberlite (subscription required).

– De Beers bolsters coronavirus aid package.

 

Lightbox is sending meals from beloved restaurants to New York City hospitals.

 

London Jewelers feeds medical workers with local food deliveries.

 

Roberto Coin is asking people to nominate nurses.

 

Houston entrepreneur thinks time is right to launch travel watch.

 

Seven Hitchcock movies with major jewelry moments.

 

From the Blog

How Dominion Diamond Was Bled Canada-Dry

 

From the Podcast

Episode 17: Guest Abe Sherman

 

Have a great weekend!

 

 

– Email: rbates – at – jckonline.com.

– Twitter: @robbatesjck

– Connect on LinkedIn

 

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JCK News Director