Top Jewelry News: Week of Nov. 5



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

Kimberley Process Reaches Deal on Zimbabwe
After two years of sometimes-acrimonious stalemate, the Kimberley Process on Nov. 1 reached a deal to allow exports from Zimbabwe’s Marange region.

Oppenheimer Family Gives Up Control of De Beers
In a stunning and historic announcement that ends a 85-year-old dynasty, the Oppenheimer family has sold its 40 percent stake in De Beers to the diamond giant’s one-time sister company, Anglo American, for $5.1 billion.

Syms, Filene’s Basement Closing Down
Legendary retailers Syms Corp. and subsidiary Filene’s Basement have filed for Chapter 11 and plan to liquidate, the company announced Nov. 2.

New Forecast Predicts Best Christmas in Seven Years
While most retail forecasters have predicted only a modest holiday, one retail consultancy says U.S. retailers are on track to experience their best Christmas season since 2004.

Warner Co. to Hold Liquidation Sale
Warner Co., a highly-respected 144-year-old jeweler, plans to hold a liquidation sale.

U.S. to Head Kimberley Process, But Meeting Brings Mixed Reactions
The World Diamond Council dubbed the Kimberley Plenary in Kinshasa, Democratic Republic of Congo, a “historic success”—but not everyone was so pleased.

17% of Shoppers Looking for Jewelry on Black Friday
While many jewelers don’t consider Black Friday a big day for their stores, a study by review site Retrevo found that 17 percent of consumers said they will be looking for jewelry deals on the day after Thanksgiving.

JA: Jewelers’ Sales Up, But Profit Elusive
Jewelers of America’s annual “Cost of Doing Business” survey found that jewelers enjoyed a 6.9 percent gain in sales in 2010—but the survey says that many are still struggling to be profitable.

From the blogs:

Retail Details: Georgia’s Ford, Gittings & Kane Jewelers Is One Big Happy Family
A jewelry store’s succession plan includes a non-family member.  

Cutting Remarks: Interview With the State Dept. Special Advisor on Conflict Diamonds
Following the announcement of the Kimberley Process’ accord on Zimbabwe, the State Dept.’s special advisor on conflict diamonds, Brad Brooks-Rubin, spoke with JCK. His comments about sanctions should be of particular interest to retailers.

Style 360: Alex Woo’s Little Rock Star Collection
The launch of a new line of Minis from the New York City–based designer coincides with her just-debuted JCK Rock Star video episode.

Style 360: Get to Know Wendy Yue of Wendy Yue Collection
A Hong Kong-based designer draws on inspiration from travel and wildlife to make her one-of-kind jewels.

Jewelry Sales Secrets: A Parachute Is Like A Brain
A parachute is like a brain in that it only works when it is completely open.

Jewelry Fashion File: Twice as Nice: Pairing Pendant Necklaces
Pendant necklaces continue to have a strong presence this season.