This week: How watch kingpins got Trump to lower Swiss tariffs. A Canadian jeweler is charged with money laundering. And Cardi B turns her umbilical cord into gold jewelry. All below.
Lugano Diamonds files for Chapter 11
– Lugano clears first bankruptcy hurdle
U.S. shoppers scaling back, looking for deals
– The American middle class is buckling after five years of inflation
Jewelry company UBS Gold charged with tariff evasion
Lower Swiss tariffs should be coming soon
– Swiss watch execs lobbied Trump with “gifts, gold, and gab”
– Wall Street Journal: Billionaires broke the stalemate
– Rolex denies it negotiated
– Swiss manufacturers still worry about long-term effects
British watch industry also has tariff issues
Dubai Watch Week in review
– Watch industry currently going through crisis, CEOs agree
– Rolex CEO says Bucherer is no threat to retail partners
– Promises to maintain “human touch”
– Event shows region’s growing importance
Report: Richemont wants to sell Baume & Mercier to its management (subscription)
Sotheby’s, Phillips withdraw top auction diamonds
Namibia now says it wants De Beers stake
– De Beers launches Origin brand in North America
Kimberley Process tries for updated definition of conflict diamond (Note: I have been told this was not approved. More next week.)
– Is KP a “victim of its success”?
– NGO says KP is “not the answer”
Watchdogs call for greater oversight of illicit gold mining
Ontario jewelers see a spike in smash-and-grab thefts
Botswana still has highest credit rating in Africa
– Country may get gold mine
Chinese luxury shoppers choosing local brands over LVMH
Natural Diamond Council names Mytheresa exec new CEO
Responsible Jewellery Council appoints Purvi Shah executive director
Julia Griffith becomes SSEF’s head of education
Okavango Diamond Company director Masire leaving post
Chanel poaches Cartier’s jewelry creative director (subscription)
Lots of comings and goings at Saks Global
Walmart names new CEO
– Outgoing chief exec McMillon took “bold, positive action”
– His biggest legacy: digital sales
Industry accountant Steven Merdinger dies
Canadian jeweler charged with laundering drug funds
BBC: U.K. fraud office didn’t look into claims against jeweler Vashi
Attorney in Arizona AG’s office faces allegations of jewelry theft
Kate Middleton wears Queen Elizabeth’s hundred-year-old diamond earrings
Jennifer Aniston has worn the same jewelry piece for 25 years
The mystery behind Zosia Mamet’s ring
Cardi B turns her umbilical cord into gold jewelry
Media Watch
Seattle Times wants to know why people have “opted out” of natural diamonds
The New York Times has extensive Ward Landrigan obit
Vogue Arabia profiles female jewelry CEOs
The Economist says to fear the gold rally (gift link)
From the Podcast
JA’s Susan Posnock Guests on The Jewelry District
Email: rbates –at – jckonline.com
– Connect on LinkedIn, X, and Instagram
– I’ve written four diamond industry mystery novels—check them out here!
(Photo: Getty Images)
- Subscribe to the JCK News Daily
- Subscribe to the JCK Special Report
- Follow JCK on Instagram: @jckmagazine
- Follow JCK on X: @jckmagazine
- Follow JCK on Facebook: @jckmagazine
