So, it turns out, Helzberg Diamonds is not advertising on the Superbowl this year. Instead, scrap jewelry seller “Cash for Gold” is. An interesting reflection of the state of our industry. Perhaps even of the country.
And on that note, here’s the news ..
NRF: Jewelry popular Valentine’s Day gift. Let’s hope so.
– Engagement ring spending may slide 9%.
– AP: Consumers “playing down” wealth.
– Retailers respond to frugal customers.
Boscov’s profitable, but needs help.
Retail shakeout “will provide opportunities.”
Generic diamond marketing plan makes progress.
DTC will sell to non sightholders. Okay, maybe not.
– Demand “sporadic” at DTC sight.
Alrosa halts all diamond sales.
Commentary corner:
– GLG and stock managers on Signet.
– GLG and Motley Fool on Blue Nile.
– Kenny G (Gassman) on the post-holiday outlook and what’s up with the chains.
“Condo plan” for 47th Street diamond tower.
Colibri seeks buyers for brands.
Israel’s Esskay Diamonds owes exchange money.
Botswana-De Beers “showdown” over Debswana.
Chaim on diamond investment funds.
Indian trade “on brink of default.”
– New jewelry “federation” formed.
– Overall Indian economy predicted to grow.
De Beers anti-trust case not dismissed. After speaking with the lawyers involved, this is not too exciting. It involves the nearly-five-year-old case of axed sightholder W.B. David, and has nothing to do with the consumer and trade antitrust case; that settlement is still being appealed. (Here’s a recent story on that.) In addition, this just settles a procedural issue in the David case. And while it’s a victory for the plaintiff (the trustee for the Davids), the case still has a long way to go.
Namdeb launches “voluntary retrenchments.”
Endiama touts Angola diamond mines.
– Angolan workers go on strike.
Angola cancels “World Diamond Summit.”
Tanzania may let De Beers sell mine.
De Beers in “fight” over Grib pipe in Russia.
Leviev’s top man in America departs.
DODAQ launches diamond exchange.
Diamond dealers robbed in Oklahoma.
– Suspects sought in Zale heist.
Tennessee Littmans will change name.
Ross Simmons co-founder dies.
Top Chef stars launches jewelry line.
Michelle Obama’s jeweler speaks.
Media Watch:
– Boston Herald talks to local jewelers.
– French newspaper talks to Neil Lane.
– Esquire talks to Evan Yurman.
– Cleveland Plain Dealer has engagement ring advice.
From the Blog:
– More on Generic Marketing for Diamonds.
– De Beers Shelves “Out of Sight” Plan.
Have a great weekend …
Follow JCK on Instagram: @jckmagazineFollow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine
