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Costco Sells $220,000 Diamond Ring
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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...
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Retail
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Oct 16, 2019
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Rapaport News
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Net-a-Porter to Debut VIP-Only Site
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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...
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Retail
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Jul 04, 2019
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Rapaport News
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Israel Bourse Strikes Deal with Alibaba
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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...
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Technology
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Jan 25, 2018
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Joshua Freedman
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Mobile-Savvy Millennials Drive Cyber Monday Jump
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Cyber Monday sales rose to record levels this year, with millennial consumers driving growth through transactions on their mobile devices, according to Adobe Digital Insights. Sales rose 17% to $6.59 billion as at 10 p.m. EST on the...
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Retail
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Nov 30, 2017
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Rapaport News
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Target Exec to Become Blue Nile CEO
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Blue Nile has appointed Target executive Jason Goldberger asCEO to replace Harvey Kanter, four months after the online diamond retailer’sacquisition by a private-equity group.Goldberger (pictured) has 20 years’ experience in senior positions at e-commercegroups, including Amazon,...
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Retail
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Jun 11, 2017
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Rapaport News
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James Allen Links Up with CanadaMark
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James Allen has become the exclusive online retailer ofCanadaMark diamonds, following a deal between the e-commerce site’s owner andCanada-based miner Dominion Diamond Corporation.All diamonds listed on James Allen under the Dominion-owned CanadaMarkbrand...
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Retail
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Jun 05, 2017
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Rapaport News
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Chow Tai Fook Picks Online Sales Partner
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Chow Tai Fook has joined forces with Chinese online retail giantJD.com, which will become the jeweler’s preferred internet sales channel.JD.com claims to be the largest Chinese e-commerce companyby revenue, with 2016 sales...
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Retail
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May 10, 2017
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Rapaport News
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Equity Firm Buys Major Stake in James Allen
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Online diamond retailer James Allen has received a $140 million equity investment from Francisco Partners.The investment gives the private-equity firm a near-50% stake in the NewYork-based R2Net, which owns James Allen, valuing the...
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Retail
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Apr 09, 2017
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Rapaport News
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J.C. Penney Scales Back Physical Stores
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J.C. Penney plans to close 130 to 140 stores this year,joining the list of major U.S. retailers downsizing their brick-and-mortarnetworks in the face of growing competition from ecommerce.The department-store chain will shut 13 to 14 percent of itsoutlets and...
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Retail
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Feb 27, 2017
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Rapaport News
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Birks Inks Deal to Sell Diamonds in Asia
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Montreal-based Birks Group has tied up with onlineretailer Luxify to sell top-end polished diamonds to consumers in Asia.The companies will offer rare diamonds of Canadian origin onthe Luxify ecommerce site, including the 35.11-carat, fancy darkyellowish-brown...
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Retail
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Jan 26, 2017
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Rapaport News
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Nordstrom Names Exec to Tap Online Retail Growth
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Nordstrom appointed Geevy Thomas to a new role of chiefinnovation officer to help the retailer keep up with trends in consumer habitsand strengthen online sales.Former salesman Thomas has served for 34 years at thecompany and was most recently...
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Retail
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Jan 12, 2017
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Rapaport News
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U.S. Retailer Shuts 250 Stores to Move Online
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Women’s apparel chain The Limited has closed all 250stores and has moved all sales to its online platform, reflecting an increasingly challengingenvironment for bricks-and-mortar retailers.“We’re sad to say that all The Limited stores...
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Retail
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Jan 10, 2017
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Rapaport News
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Blue Nile Says Takeover Bid Unchallenged
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Blue Nile did not receive any takeover bids during a 30-dayperiod in which it was allowed to consider proposals from third parties,according to a company filing with the U.S. Securities and Exchange Commission.The disclosure comes after...
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Retail
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Dec 08, 2016
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Rapaport News
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Alibaba Sells Record $18B in Single Day
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Sales on Alibaba Group’s Alipay platform jumped 32 percent onSingles’ Day, underlining the day’s growing importance on the Chinese retailcalendar.The total value of transactions hit $17.8 billion (RMB 120.7billion) compared to $14.3 billion last year,...
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Retail
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Nov 13, 2016
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Rapaport News
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JA: Trump Election Won't Impact Proposed Tax Bill
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Trade body Jewelers of America (JA) said attempts to achievetax “fairness” in the U.S. should be unaffected by the Republican Party’scontinued control of the Senate.The tussle to pass the MarketplaceFairness Act will continue in 2017 and the Senate...
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Retail
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Nov 13, 2016
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Rapaport News
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Dalumi Group Buys Online Jeweler Zoara
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Israel-based diamond manufacturer The DalumiGroup acquired online diamond and jewelry retailer Zoara.com.The deal gives Zoara direct access to wholesale suppliersand repositions the site as a “leading” jewelry ecommerce platform, saidDalumi, a De Beers sightholder. Zoara...
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Retail
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Nov 09, 2016
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Rapaport News
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Blue Nile to be Sold for $500M
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Blue Nile agreed to be acquired by a private-equity investor group as the online diamond retailer’s profit slumped in the third fiscal quarter.Bain Capital PrivateEquity and Bow Street will buy all outstanding shares of BlueNile common stock...
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Retail
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Nov 07, 2016
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Rapaport News
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Pandora Eyes China Breakthrough via Online Entry
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Pandora has launched on Alibaba’s ecommerce platformTmall.com, as the Denmark-based jeweler aims to break into the Chinese market.Internet retailing, which grew 53 percent last year, is gainingtraction in China because of faster internet, improved payment security andincreasing...
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Retail
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Oct 18, 2016
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Rapaport News
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Blue Nile to Open Webroom in Seattle
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Blue Nile will open a ‘webroom’ near its headquarters inSeattle, Washington, as the online diamond retailer expands itsbricks-and-mortar footprint with its fifth physical store.The ‘webroom’ concept allows customers to try out engagementrings on-site...
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Retail
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Sep 07, 2016
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Rapaport News
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Blue Nile Sales Below Expectations
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Blue Nile missed its own quarterly revenue and earnings guidance as engagement ring sales slowed amid global economic uncertainty.Revenue crept up 0.1 percent to $113.8 million in the secondquarter ending July 3, with U.S. engagement-ring...
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Retail
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Aug 09, 2016
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Rapaport News
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