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Luk Fook store MixC World in Shenzhen Bay
Luk Fook Eyes China Expansion
Hong Kong-based Luk Fook will accelerate its expansion in mainland China, considering the market a strong source of revenues amid struggles in its home territory.The jewelry retailer plans to open a net 250 new mainland stores...
Retail Nov 26, 2020 Rapaport News
Jewelry at store in Delhi, India
Diwali Sales Shine as ‘Bored’ Consumers Return
Jewelry sales in India beat expectations during the Diwali season amid a release of pent-up demand and strong consumer confidence about future gold prices.Revenues were on a par with last year, or better, as Indians returned to shopping...
Retail Nov 26, 2020 Joshua Freedman
Man shopping on Alibaba
Alibaba Sales Soar During 11/11 Season
The pandemic didn’t stop Alibaba from recording sales growth this Singles’ Day, with the Chinese e-commerce giant enjoying a sharp rise in activity on its platforms during the week and a half running up to the...
Retail Nov 12, 2020 Rapaport News
James Allen
Signet to Expand James Allen In-Store Format
Signet Jewelers plans to have James Allen e-commerce displays in 80 of its Jared locations this holiday season following a successful trial of the store-in-store concept. “Given positive sales results and strong traffic gains, we plan to expand...
Retail Sep 08, 2020 Rapaport News
Petra Diamonds Petra 424.89 carat and 209 carat
Petra Diamonds Adds 2% Levy for Indian Clients
Petra Diamonds will charge Indian customers an additional 2% to cover a new e-commerce tax that might apply to the miner’s rough sales.India introduced the equalization levy on April 1, taxing all overseas e-commerce operators’ sales of goods...
Rough Markets Aug 26, 2020 Joshua Freedman
Judah Zeigler.
Frederick Goldman Hires E-Commerce Head
New Jersey-based jewelry manufacturer Frederick Goldman has appointed Judah Zeigler vice president for business-to-business (B2B) e-commerce.He will be responsible for developing and leading all of Frederick Goldman’s efforts in the field, in particular overseeing...
Retail Aug 03, 2020 Rapaport News
Rough diamond at KGK Diamonds Botswana
De Beers Launches Online Rough-Sales Platform
De Beers has launched an e-commerce site that lets clients buy rough on demand, creating an opportunity for sales during the weak market.An initiative of De Beers’ auctions unit, the new Buy platform gives registered buyers...
Rough Markets May 10, 2020 Rapaport News
Polished diamond
Belgium, Israel to Hold Online Diamond Fair
Belgian and Israeli industry organizations are jointly organizing a virtual trade show to compensate for the cancellation of major exhibitions around the world.The Online Diamond Trade Fair will run from March 30 to April 3, the...
Polished Markets Mar 18, 2020 Rapaport News
Michael Hill store
Online Growth Boosts Michael Hill Sales
Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler’s first fiscal half, as investments in digital platforms paid off.Same-store sales — at retail locations open for at least a year...
Retail Feb 27, 2020 Rapaport News
Singles Day
Alibaba Sees Record Singles’ Day Sales
Singles’ Day has continued to grow as a major onlineshopping occasion in China, with Alibaba Group reporting record sales through itse-commerce sites. The total value of transactions on the Chinese retailgiant’s platforms rose 26% to CNY 268.4...
Retail Nov 12, 2019 Rapaport News
Costco
Costco Sells $220,000 Diamond Ring
Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer saidearlier this month. Executivevice president and chief financial officer Richard Galanti confirmed thesale during the company’s...
Retail Oct 16, 2019 Rapaport News
Net a Porter
Net-a-Porter to Debut VIP-Only Site
High-end online retailer Net-a-Porter isset to launch an invitation-only digital platform, selling exclusive jewelry toits most loyal members. From later this month, customers whohave been awarded EIP (Extremely Important People) status by Net-a-Porter...
Retail Jul 04, 2019 Rapaport News
Image: A Kay Jewelers store in New Jersey. (Shutte
Signet Revenue Drops in First Quarter
Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the...
Retail Jun 06, 2019 Rapaport News
Signet breach
Signet Fixes Data Issue at Kay, Jared
Signet Jewelers has repaired a configuration bug on theorder pages of subsidiaries Kay and Jared that accidentally exposed the personalinformation of customers who purchased online. A Jared customer contacted Signet last month after noting hecould...
Retail Dec 05, 2018 Rapaport News
Israel Bourse Launches Alibaba Partnership 150
Israel Trade Signs Alibaba Consumer Deal
The Israel Diamond Exchange (IDE) has expanded its collaborationwith Alibaba by introducing sales directly to Chinese consumers. Israeli diamonds will be available as loose stones on Ali Auction, the Asian e-commercegiant’s luxury platform, the IDE...
Retail Oct 18, 2018 Rapaport News
Sales Tax 150
Jewelers Cheer Online-Sales-Tax Ruling
US states can now collect sales taxes from online retailers,the nation’s Supreme Court has ruled.The court overturned a 1992 decision that exempted companiesfrom the duty if they didn’t have a physical presence in the state....
Retail Jun 24, 2018 Rapaport News
Pandora rings jewelry
US, Asia Troubles Hit Pandora Sales
Pandora’s revenue fell in the first quarter as the jewelryretailer suffered from weakness in its US stores and a slowdown in China. Global sales slipped 1% year on year to $812.2 million (DKK 5.12 billion) for the January-to-March period,...
Retail May 17, 2018 Rapaport News
Blue Nile webroom
Blue Nile Names New Merchandising Head
Blue Nile has appointed Katie Zimmerman as chiefmerchandising officer, a role that entails overseeing bridal and fashionjewelry. “Katie brings a unique eye and thoughtful analysis tomerchandising,” said CEO Jason Goldberger, to whom Zimmerman will...
Retail Mar 22, 2018 Rapaport News
Israel Bourse Launches Alibaba Partnership 150
Israel Bourse Strikes Deal with Alibaba
The Israel Diamond Exchange (IDE) will launch a partnershipwith Chinese e-commerce giant Alibaba Group, enabling traders to sell goods onlineto businesses and consumers in global markets.Some 150 bourse members have formed an online store...
Technology Jan 25, 2018 Joshua Freedman
Holiday shopping retail
Retail Enjoying Impressive Season
US retail sales have increased so far this holiday season, as an improving job market has spurred consumer confidence, according to surveys by government and private-sector organizations. Sales across all retail categories grew 6.3% year on year...
Retail Dec 17, 2017 Rapaport News
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