Top Jewelry News: Week of Nov. 12



A roundup of JCK’s top stories from the past week:

Blue Nile CEO Resigns as Profits Fall
Blue Nile CEO Diane Irvine resigned from her post on Nov. 9, following the company’s announcement of profit numbers that disappointed Wall Street.

GIA: No Easy Answer to Long Turnaround Times
The Gemological Institute of America admits that that it now takes as long as six weeks to get diamonds back from its labs—but doesn’t see that changing anytime soon.

Cash4Gold Exploring Sale of the Company
Cash4Gold has traditionally bought gold from consumers, but now it may be seeking a buyer for itself.

Bipartisan Internet Sales Tax Bill Introduced
The Marketplace Fairness Act, a new bipartisan bill that would mandate states collect Internet sales tax, has been introduced in the Senate.

Virginia Jeweler AmRhein’s Celebrates 90th Anniversary
AmRhein’s, located in
Roanoke, Va., celebrated its 90th anniversary on Nov. 5 by putting something other than champagne on ice.

Study: Deal Sites Mainly Attract Existing Customers
The majority of consumers who redeem online deal vouchers, from sites like Groupon and Gilt Groupe, were already customers of the brand, according to a new study by Forrester Research.

Leading Gold Dealer Goldline International Charged With Fraud
On Nov. 1, the Santa Monica City Attorney’s Office filed a 19-count criminal complaint against Goldline International, a leading gold coin dealer, dubbing the company a “bait and switch” operation.

Mall Owner Sues Indiana Over Internet Sales Tax
The fight over Internet sales tax has already moved to Congress. Now it might be headed to the courts.

From the blogs:

Cutting Remarks: Should Blue Nile Have the Blues?
Following the release of disappointing profit numbers and the resignation of its CEO—which led its stock to lose nearly a third of its value—Blue Nile is the subject of increasing speculation about its prospects for growth.

Retail Details: A Tribute to Woody Justice, the Industry’s Jeweler
A tribute to the life and career of Woody Justice.

Style360: More Red Jewels from the November Issue of JCK
Here are a few more rouge designs that we just couldn’t fit into the November print issue.

Cutting Remarks: The Newest “New Era” at De Beers
The Oppenheimers’ departure from De Beers could have huge ramifications on the entire industry.

Style 360: An Award-Winning 63.57 Ct. Citrine From John Dyer
A 63.57 ct. square cushion citrine took second place in the Innovative Faceting division of the AGTA Cutting Edge Awards for 2012.

Jewelry Fashion File: Blue-Greens & Green-Blues, Most Flattering Hues
The November 2011 issue of O, the Oprah Magazine states it best:  “Whatever you call this shade–blue-green or green-blue, peacock, teal, or deep turquoise–it’s showing up everywhere, in fashion, beauty, and home decor.

Jewelry Sales Secrets: Maximizing Every Opportunity: Part 1
There are three primary ways for a salesperson to maximize sales. The first is to sell more of the people that you already have coming in.

Memo to Merchandisers: Sell More Jewelry Based on Customer Desires
Buyers perceive jewelry offerings differently if they approach the purchase as a need, want, demand, or desire.