First off, some people said that I was a bit too upbeat in my quick assessment last week of the shows in Vegas. Clearly, all the shows are becoming more appointment-oriented, even if, as one wise man said, that defeats the purpose of a trade show.
One observation: Diamond people were extremely gloomy, not necessarily about the show, but the business in general. I have never known diamond people to be sparkling rays of sunshine, but this was among the worst I have ever seen. It really looks like we could see some difficult days ahead.
On that chipper note, here is this week’s web highlights:
– Post-price increase sight reports.
– The low-end industry needs to “redefine itself.”
Media Watch:
- Daily News article on buying diamonds on-line and “alternative” rings.
- Newsday/AM New York article on “ethical diamonds.”
- AP article on women picking out their own engagement rings.
- Forbes article on overseas demand for jewelry.
De Beers says sales decline, but profits rise. Among the interesting tidbits: the De Beers retail chain has now made over $100 million. I have no idea if the chain is profitable, but that’s still impressive.
– Full report here.
– WWD on De Beers’ e-commerce launch; Forbes and Motley Fool on whether it will hurt Blue Nile.
– Further speculation about mining mergers.
– M. Fabrikant and Sons sells assets.
– As a journalist, of course I agree with everything in Chaim’s latest Idex memo.
– De Beers wins one in South Africa.
– Analysts on Aber (oops, I mean, Harry Winston.)
– JCK interview with Ed (“Blood Diamond”) Zwick now online. Also: Global Witness goes after chocolate.
– Bloggery: The Future of Diamond Advertising.
– Finally, very happy trails and best wishes to Laura. You will be missed. Have a good weekend, everyone …
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