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Kay Jewelers Signet
Signet Sees Surge in Holiday E-Commerce Sales
Signet Jewelers reported a positive holiday season as soaring online sales helped compensate for the pandemic’s adverse impact on store traffic.Revenue was flat year on year at $1.8 billion for the nine weeks ending January...
Retail Jan 14, 2021 Rapaport News
Chow Tai Fook store Wuhan China
Chow Tai Fook Sales Rise as China Recovers
Sales at Hong Kong-based jeweler Chow Tai Fook grew almost 18% in the last three months of 2020 as a recovery in mainland China outweighed weakness in its home territory.“In light of the easing Covid-19 situation in mainland China,...
Retail Jan 11, 2021 Rapaport News
Tiffany Beijing store
LVMH Replaces Tiffany CEO as Deal Closes
LVMH has shaken up Tiffany & Co.’s senior management after the French luxury group finally completed its acquisition of the iconic US jewelry brand.Anthony Ledru, previously executive vice president for global commercial activities...
Retail Jan 07, 2021 Rapaport News
Hong Kong
Hong Kong Retail Sees Gradual Recovery
Hong Kong recorded its gentlest decline in hard-luxury revenues for a year and a half, as a drop in coronavirus cases boosted the local retail market.Retail sales of jewelry, watches, clocks and valuable gifts fell 16% year...
Retail Jan 04, 2021 Rapaport News
Surat diamond cutters
‘Naturalmark’ Aims to Defeat Undisclosed Synthetics
A new project to combat undisclosed synthetics has launched in India, offering retailers low-cost screening and inscription using a model based on gold hallmarking.Naturalmark will place tamper-proof seals on parcels of loose diamonds, as well as laser-inscribing finished jewelry,...
Retail Jan 03, 2021 Joshua Freedman
Covid retail
Covid-19 Resurgence Hits Consumer Confidence
US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.The business data group’s Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans...
Retail Dec 24, 2020 Rapaport News
Shopping mall marlborough ma
US Retail Sales Fall Amid Covid-19 Spike
US retail sales struck a disappointing note in November due to an uptick in coronavirus cases and the lack of a second government stimulus package.Revenues fell 1.1% month on month to $546.5 billion, though they were still 4.1% higher than...
Retail Dec 17, 2020 Rapaport News
Jean Z. Poh
How E-Commerce Can Help You Crunch the Numbers
What if the pandemic presents the largest growth opportunity the jewelry industry hasever seen? Covid-19 and lockdowns have effectively wiped out in-person shopping, but they’ve also forced the jewelry industry as a whole...
Retail Dec 15, 2020 Jean Z. Poh
Michael Hill store Niagara-on-the-Lake Canada
Michael Hill Forecasts Half-Year Profit
Australian jeweler Michael Hill predicted a rise in profit for the current half year after reporting growth in same-store sales.Sales at branches open for at least 12 months increased 8% year on year in the 22 weeks ending November 29,...
Retail Dec 10, 2020 Rapaport News
Looking at polished diamond through loupe at Almod
De Beers Aims for Full Traceability by 2030
De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will “scale” programs that help identify...
Retail Nov 30, 2020 Rapaport News
Birks store Toronto Canada
Birks Sales Slide After Store Closures
Canada-based jewelry retailer Birks Group saw sales slump in its first fiscal half as the coronavirus forced stores to shut for much of the period.Revenue slid 33% year on year to just over CAD 57 million ($43.9...
Retail Nov 29, 2020 Rapaport News
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 production
Jewelers ‘Failing to Prevent Rights Abuses’
Human Rights Watch (HRW) has called for mandatory sourcing rules for the jewelry industry and urged retailers to name their suppliers, claiming the sector is not doing enough to combat abuses.“Many jewelry companies...
Retail Nov 25, 2020 Rapaport News
Tiffany blue box
Tiffany Profit Soars as China Recovers
Tiffany & Co. reported a sharp jump in profit in the third fiscal quarter as sales in China surged and consumer spending shifted to higher-margin items.Net earnings rose 52% to $119 million in the three months ending October...
Retail Nov 24, 2020 Rapaport News
Interior establishing shot of Forevermark Store in
Forevermark to Make Greater Use of De Beers Name
De Beers will associate its corporate identity more closely with Forevermark, enabling the diamond-jewelry brand to benefit from group-wide efforts in the realm of sustainability and responsible sourcing.“Aligning Forevermark more closely with the De Beers...
Retail Nov 24, 2020 Rapaport News
Mag cover story Nov 2020
Making the Most of the Holidays
It’s been a tumultuous year, and the upcoming holiday forecast has not eased concerns. Although sales are still expected to increase over last year, the margin is slim, according to AlixPartners. The consulting firm...
Retail Nov 23, 2020 Lara Ewen
Julie Lamb trunk show
How to Hold a Virtual Trunk Show
Two weeks after New York’s Museum of Art and Design (MAD) closed due to the coronavirus pandemic, Franci Sagar hosted the Store at the MAD’s first virtual trunk show. It was far from her...
Retail Nov 10, 2020 Jennifer Heebner
Michael Lerche Plumb Club podcast
Podcast: Plumb Club Moves with the Times
The pandemic and its impact on trade shows have forced the Plumb Club to help its members do business all year round, said president Michael Lerche.The coalition of 43 jewelry suppliers has been inextricably linked...
Polished Markets Nov 09, 2020 Joshua Freedman
Pandora store Cornmarket Oxford UK
Pandora Expects Hit from Second Lockdowns
Pandora has warned that fresh coronavirus-related restrictions could dampen the jeweler’s holiday sales and put the brakes on its steady recovery.The Danish retailer has maintained its financial guidance for the year...
Retail Nov 04, 2020 Rapaport News
T Mark
Chow Tai Fook Unveils In-House AI Grading Report
Chow Tai Fook is launching its own diamond certificates based on artificial intelligence, using a new grading scale featuring numbers instead of letters.The Chow Tai Fook AI Diamond Grading Certificate will be available for stones weighing...
Retail Nov 03, 2020 Rapaport News
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