We wish all our readers good health and good things during these perpetually troubling times. Take proper precautions, and stay safe and healthy, please.
This week in Diamond Shavings: Diamond miners barely sell any diamonds. Bankruptcy watchdog takes aim at Neiman Marcus bonuses. And more funding for ashes-to-diamond company Eterneva. All below.
Gold price crosses $1,900 threshold.
Just 78 jewelry stores ceased operations in the last year. Is that good?
– Jewelers see “worst quarter ever” for credit downgrades.
– Mom-and-pops “doing okay.”
– Silver Promotion Service survey shows “pent-up demand” for jewelry.
Retail sales in the United States increased 7.5% in June, but COVID-19 spikes slow recovery.
David Yurman lays off nearly 100 employees.
Signet lays off some furloughed employees.
Nordstrom lays off 521 employees.
Mall owner CBL preps a Chapter 11 filing.
Bankrupt Neiman Marcus wants to give executives a raise.
– Bankruptcy watchdog wants to stop exec bonuses.
– Neiman closing Hudson Yards store, three more.
– Launches virtual hub as consumers remain leery of indoor shopping.
High-end luxury brands are warming to e-commerce.
– Luxury houses hire videographers for content.
How Shopify “conquered fashion.”
– How Shopify plans to take on Amazon.
Australia’s Jeweller magazine shows country’s industry has consolidated.
Union Bank sells its diamond portfolio.
The biggest diamond miners barely sold any diamonds in the last quarter.
Yaa’kov Almor: Is the end in sight for sights?
– De Beers to hold viewings in Antwerp and Dubai.
Three Surat diamond cutting units ordered to shut down for breaking COVID rules.
India claims Mehul Choksi sold undisclosed lab-grown diamonds.
Western New York diamond dealer charged with wire fraud.
Appeals court sends Princie diamond case to trial.
Rolex wins fight with Franck Muller.
“Jeweler to the stars” sues longtime partner.
Court ties dos Santos to “fraudulent” diamond deal.
Business groups alarmed by Sterling class-action ruling.
Global Witness looks at the gold business.
– Claims gold refiner bought from Sudan militias.
Diamond Development Initiative becomes part of Resolve.
Natural Diamond Council says future of mining is female.
OMD snags Natural Diamond Council’s China account.
Zales debuts program to showcase emerging and BIPOC jewelry designers.
– Vogue highlights 15 BIPOC designers.
Bulgari funds vaccine research.
Michigan jeweler turns his store into a “treasure quest.”
Chopard moving NYC flagship to Fifth Avenue.
JCK Virtual 2020 now open for registration.
October Atlanta Jewelry Show will be both live and virtual.
Baselworld has new name, same location.
– Baselworld owner MCH gets Murdoch bailout.
New York Times looks at Gem X, a “private jewelry social club” (by JCK’s Victoria Gomelsky).
Watch Industry veteran Joseph Sindt dies.
Ashes-to-diamonds company Eterneva gets more funding.
The “most scandalous diamonds in history.”
Dok2 wins lawsuit filed by jewelry company.
Demi Lovato reveals enormous engagement ring.
From the Blog
Just 78 Jewelry Stores Ceased Operations in the Last Quarter. Is That Good?
From the Podcast
The Jewelry District, Episode 23: Guest Oliver Smith
Webinars
CIBJO webinar on the trade press, including myself (video).
Have a safe and healthy weekend.
– Email: rbates – at – jckonline.com.
– Twitter: @robbatesjck
– Connect on LinkedIn
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