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July 30th, 2010
 Innovative designs, attractive prices elevate silver Silver pieces such as Daniel Gibbings’ “African Warrior Shield Ring” in pure silver with 18-karat yellow gold shank, hand-carved detail and brown zircon center stone, were go-to pieces in Las Vegas. Suggested retail price is $1,452. (877) 565-1284 or DanielGibbingsJewelry.com
As a perusal of the showcases at Las Vegas Market Week made evident, precious metals prices hold an unrelenting influence over design trends, with silver providing an affordable ying to gold’s pricier yang.
While gold is the go-to metal for small, stacking rings and delicate pendant necklaces, designers use silver to go bold, both in terms of size and metalworking techniques.
Even jewelers once skittish about silver are now striding into the category with confidence, as consumers demand friendlier price-point pieces that are high in both quality and value. Heeding the call, designers have been keen to create silver designs that their brand names can proudly stand behind-and, that can help offer margin-making opportunities to retail customers.
To view our full spread of silver jewelry, click here.
Design trends
Silver’s entry-level price points are not just an attraction for consumers. At press time, the metal was trading at $18.25 per ounce as compared to gold at $1,162 per ounce, providing designers with the chance to experiment-an opportunity they are grabbing with aplomb. The silver designs of the moment are big and bold, and come in all shapes and forms, from smooth, sculptural designs to highly textured styles, hammered, etched and oxidized. For luxe, higher-end offerings, look for pieces studded with diamonds, especially versions featuring colorless stones set against oxidized silver, a major trend at the moment. For wallet-friendly options with character, look to designs accented with colored gemstones. The market is currently brimming with new, colorful looks.
Margin matters
The Silver Promotion Service (SPS) has been putting the emphasis on silver as the “metal with margin,” a tag line that is proving true, at least according to two National Jeweler surveys. More jewelry retailers (46 percent) said that their margins increased on sterling silver jewelry as compared to any other jewelry category, according to the results of National Jeweler’s exclusive Post-Holiday 2009 survey. Meanwhile, according to National Jeweler’s exclusive Profit Margins Survey, sterling silver jewelry topped more than 30 categories as the leading margin-maker for retail jewelers.
Marketing moves
The SPS, the marketing arm of the Silver Institute, has been busy over the last year bringing attention to silver jewelry. The service has expanded its Web site, SavorSilver.com, to include new designers, silver products and services, and has also amped up its presence at trade shows, including the recent Couture and JCK shows in Las Vegas. In addition, SPS has partnered with National Jeweler to launch a monthly e-newsletter, “Silver Jewelry News.” SPS also continues to remind jewelers that, just like gold and platinum, silver is one of the noble metals, SPS Director Michael Barlerin said during an informational seminar at JCK Las Vegas.
Source: National Jewelry Network
Tags: african warrior shield ring, diamond, gold, JCK, jewelry, las vegas market, ring, silver
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July 26th, 2010
Residual inventory from the bankruptcy of multimedia retailer Gems TV (USA) Ltd. will be available beginning next week at the JA New York Summer Show, National Jeweler has learned.
Yogesh Madhavani, chief executive officer of SimplexDiam, said that his company beat out four other bidders in a closed auction for 10,000 pieces of Gems TV inventory. The inventory is a mix of gold and diamond and/or colored gemstone pieces as well as silver pieces set with gemstones and a number of watches. Wholesale prices for the pieces range between $20 and $1,000.
Facing financial struggles, Reno, Nev.-based on-air retailer Gems TV (USA) Ltd., which sold mainly colored gemstone jewelry via its 24/7 home shopping network, filed for bankruptcy in April and went off the air shortly thereafter. Since that time, its Singapore-based parent company Gems TV Holdings Ltd. has successfully acquired a 32 percent stake in Gems TV’s one-time rival, Knoxville, Tenn.-based Jewelry Television.
Madhavani said the Gems TV inventory consists of fashion forward pieces of good quality, with many offering “bigger looks.”
“It’s unlike some other inventories that are more traditional,” he said.
SimplexDiam will exhibit at Booth #2340. JA New York will take place July 25 through July 28 at the Jacob K. Javits Convention Center in New York City.
Source: National Jeweler Network
Tags: gems, Gems TV, jeweler, jewelry, new york, SimplexDiam
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July 23rd, 2010
 This 14-karat white gold engagement ring featuring a round diamond is from the new "Neil Lane Bridal" collection, available at select Kay Jewelers stores and online at Kay.com. Rings in the collection are priced between $2,599 and $7,799. Jewelry designer Neil Lane, Hollywood’s go-to designer for vintage-inspired bridal designs, has partnered with Kay Jewelers to launch a new collection of engagement and wedding rings, the designer and the retail chain announced on Monday.
The “Neil Lane Bridal” collection features 36 engagement and wedding rings, all inspired by Hollywood glamour. The red-carpet arena is one that Lane is quite familiar with, given that his jewelry brand is a red-carpet regular at movie premieres and awards shows, worn by ingénues and Hollywood icons alike, many of whom have turned to Lane for bridal designs.
“I was influenced by over 20 years of design for some of Hollywood’s legendary stars to create a collection with Kay Jewelers that is authentic, glamorous and romantic,” Lane said in a media release.
Each of the rings in the new collection was designed by Lane and handcrafted, assembled and finished by skilled artisans, with diamonds hand-selected by Kay.
The designs are grouped into four themes: Energy, Timeless, Essence and Harmony, with each of the designs featuring period influences with historical references to art and architecture.
“We are thrilled to launch the new Neil Lane Bridal collection at Kay Jewelers,” Mark Light, president and chief executive officer of Kay Jewelers, said in the release. “Partnering with Neil Lane, we have created a one-of-a-kind bridal collection for our Kay customers that reflects Neil’s immense talent for intricate design and passion for style and glamour.”
Pieces in the Neil Lane Bridal collection range in price from $2,599 to $7,799.
Source: National Jeweler Network
Tags: diamond, gem, hollywood, jewel, jewelry, key jewelers, neil lane bridal, wedding, wedding rings, white gold
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July 19th, 2010
A legislative addendum that aims to regulate the gold industry to keep “conflict gold” out of the United States passed as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, a financial reform bill that was approved by the Senate Thursday and is poised to become law.
On Monday, Jewelers of America sent out an alert to warn jewelers that the legislation, which was aimed at reforming Wall Street, could be a “nightmare” for the jewelry industry if enacted, and JA called for industry members to contact their U.S. senators to ask them to defeat the addendum (Section 1502). The provision sets up a major logistical challenge for jewelers, who would have to ensure that the gold they buy is not subsidizing conflicts in the Democratic Republic of Congo as well as nine surrounding African countries.
The Dodd-Frank bill passed in the U.S. House of Representatives last month, before passing yesterday in a 60-39 final vote in the Senate. President Obama is expected to sign the bill into law next week.
While primarily focused on financial reform legislation, the Dodd-Frank gold provision would require that companies using gold as well as the minerals coltan, cassiterite and solframite file annual reports with the Securities and Exchange Commission (SEC) regarding the source of those materials. According to JA, compliance with the gold provision would likely require that companies hire a third-party firm to audit and validate their gold-sourcing reports.
If a company’s gold or minerals did originate from one of the 10 African countries included in the bill, then that company would have to show what steps they took to trace their materials back to their source. The provision also dictates that materials information be placed on a company’s Web site for public review.
On Friday, JA released a statement in response to the bill’s passage, saying “While we strongly believe in the goals of this legislation, we are very concerned that the bill–as passed–could encourage jewelry companies to avoid trading in gold from the region, in order to bypass the issue completely. Of course, this unintended consequence will help no one, and end up hurting legitimate miners and their communities. Therefore, we hope to work with the U.S. Securities and Exchange Commission (SEC) regulators and both industry and non-industry stakeholders to ensure that implementation achieves its goals, without hurting jewelry businesses or the very communities in DRC and neighboring countries that it is meant to benefit and protect.”
Tags: diamond, gem, jewelers, jewelry, jewelry design, wall street
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July 16th, 2010
 Lagos was among the brands that respondents cited as generating the most sales in their stores. This "Gemstone Rope Bracelet" from Lagos features a cushion-cut gemstone set in sterling silver and accented with 18-karat gold; suggested retail price is $550. Lagos.com
The results of National Jeweler’s latest Product Panel indicate growing interest in the designer jewelry sector. Nearly half, 48 percent, of the retail jewelers who took the survey indicated that their branded jewelry sales are increasing as a percentage of overall sales, while 22 percent said the category is holding steady.
Margins appear to be on the higher side, too, with 52 percent of retailers surveyed saying that they attain at least a 50 percent overall gross margin on designer jewelry. Click here to see the full results of the Product Panel survey.
With results like these, it is not surprising that many retailers are continuing to grow their inventory volume of designer jewelry. Still, the brunt of the economic downturn has prompted others to focus on their own store brands.
Love ‘em or hate ‘em
When asked how their feelings about carrying brands have evolved in recent years, retail panelists were divided. Brand fans say that designers’ high-profile marketing and exposure helps to bring in traffic, while others say that customers no longer care for names, they just want quality.
“The consumer is more brand-aware right now and the way our designer brands are promoting [themselves] on the social networks has made a huge difference in the consumer’s shopping decisions,” one panelist wrote.
Another retailer who felt differently wrote, “I’m starting to go in a new direction. I want to market myself instead of brand names. It is too expensive and my customers don’t see the value in brand-name [jewelry].”
The economy’s impact
Designer jewelry wasn’t spared in the turbulent year in jewelry that was 2009. A handful of retail panelists said that the crisis slowed designer jewelry sales, with one retailer noting, “The impulse purchase has declined and many of those were for designer jewelry.”
Among the retail jewelers that have managed to succeed in the branded category, it seems that a focus on unique designs and smaller brands, has helped.
One panelist noted, “When there is a particular story to tell about a designer, it enhances the piece, and combined with our reputation makes the purchase easier for the customer. In this atmosphere, the designer jewelry has sold well even in a challenging market.”
Source: National Jeweler Network
Tags: brand, consumer, designer jewelry, diamond, gem, jewel, jewelry, jewelry supply, retail
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July 12th, 2010
A study of consumers by the Leading Jewelers of the World (LJW) reveals that a majority of shoppers are influenced “very much” or “somewhat” to do business with stores displaying the LJW Mark of Distinction and adhering to the LJW Pledge.
Fielded from May 20 to May 31 by LJW and conducted by Nielsen and National Jeweler, the study measured the impact of the LJW Mark of Distinction, which designates retail jewelers as LJW members, and the LJW Pledge, which includes a commitment by LJW members to adhere to the highest possible standards of integrity.
Among survey questions was: “What comes to mind when you think of Leading Jewelers of the World?” Leading responses were quality, service, selection, trust, price and knowledge.
The findings show strong customer likelihood to buy from jewelers that display the LJW Mark or advertise their adherence to the LJW Pledge. Respondents were shown the Mark of Distinction and were asked to read the Pledge, and were then asked whether these would influence whether or not they did business with an LJW retailer. Forty percent said “very much,” while 48 percent indicated “somewhat.” Smaller percentages, 10 percent and 2 percent, indicated “not very much” and “not at all,” respectively.
“For obvious reasons, everyone involved with LJW was enthusiastic about the results,” said Michael Barlerin, LJW executive director. “The learning regarding the importance of the Pledge and Mark and their consistent communication to customers definitely provide a jeweler a significant point of differentiation from their peers. This benefit is further enhanced by exclusive LJW Honoree status in a defined trading area.”
Barlerin added that work is underway with Nielsen to field additional studies, and that LJW is working to expand the communication of the LJW Pledge at point of sale.
LJW is an association of independent retail jewelers granted exclusivity in their markets. Survey results are based on response from 226 customers of Bergstrom’s Jewelers, Minneapolis.
Source: National Jeweler Network
Tags: gems, jewel, jewelers, jewelry, leading jewelers of the world, ljw, National Jeweler, nielsen
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July 9th, 2010
The recovery continued for the Israeli diamond industry in the first half of 2010, the latest import and export statistics released by the country’s Ministry of Industry, Trade and Labor show.
Polished diamond exports for January to June 2010 totaled $3 billion, up 92 percent from January to June 2009, when polished diamond exports totaled $1.6 billion.
According to the statistics, rough diamond exports for the first half of 2010 were $1.6 billion, a 104 percent increase from January to June 2009, when rough exports totaled only $796 million.
Meanwhile, rough diamond imports jumped 113 percent, from $852 million in the first half of 2009 to $1.8 billion in the first half of 2010. Polished diamond imports totaled $1.9 billion in the period, up 105 percent from January to June 2009.
The United States remained Israel’s No. 1 market for polished diamonds in the first half of 2010, consuming 52 percent of the goods. Next was Hong Kong at 25 percent, followed by Belgium at 7 percent, Switzerland at 5 percent and India at 2 percent, statistics show. A mix of other countries accounted for a total of 9 percent of demand for Israel’s polished diamond exports.
Source: National Jeweler Network
Tags: diamond, gem, hong kong, israel, israeli diamond industry, jewel, jewelry, stone
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July 5th, 2010
Newark, N.J.-State authorities have cited 49 New Jersey gold- and jewelry-buying businesses, including some retail jewelers, for committing numerous violations of state laws governing gold buybacks, the New Jersey Attorney General’s Office announced Thursday.
New Jersey’s Office of Weights and Measures has issued more than 1,600 summonses in the case following a just-concluded statewide sweep that found businesses were using inaccurate scales that didn’t weight items correctly and resulted in consumers receiving less money than they should have in exchange for their gold or jewelry. The civil penalty for each violation conviction ranges from $100 to $500, with the court setting the exact penalty.
According to a news release, the state office’s Precious Metals Task Force began the unannounced inspections in June after receiving a complaint from a consumer. The task force dropped in on jewelry stores as well as transient buyers of gold and jewelry who normally operate out of hotels and move around frequently.
“Some of the buyers defrauded consumers, short-weighting their items and likely paying them less than the true value of their items,” Attorney General Paula Dow said in the release. “We found violations statewide and we’re putting the industry on notice that we won’t tolerate the cheating of consumers.”
Among the confiscated items was a scale that had a spring mounted underneath its weighing platform that pushes back as items are weighed, producing an inaccurate reading. State officials displayed the scale along with other sweep paraphernalia at a press conference held Thursday in Avenel, N.J.
“Consumers who need to sell their heirlooms and keepsakes to raise cash deserve to get every dollar that their gold, jewelry and precious metals are worth,” Thomas Calcagni, acting director of the state Division of Consumer Affairs, said in the release. “But buyers who use unapproved, uninspected or purposely tampered with scales are cheating consumers out of money.”
In addition to using scales that were unregistered, not inspected, not approved for use in New Jersey, unsealed and tampered with, businesses also received citations for not providing detailed receipts to sellers.
According to the release, New Jersey law dictates that consumers selling their items must receive detailed receipts that include information about the type of precious metal or item purchased, the fineness of the metal, the weights of the item purchased, the prices paid and the name and the address of the buyer. This information is important to the consumer as they may later want to dispute the transaction or reclaim their item within the 48 hours the buyers is required to hold on to it.
Transient gold and jewelry-buying businesses are required to post a $5,000 bond with the state in order to conduct business.
Source: National Jeweler Network
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July 2nd, 2010
 Lika Behar Collection earrings in 24-karat gold and oxidized silver with moonstone; suggested retail price is $3,300. Editors attending Jewelry Information Center (JIC)’s fine jewelry preview and luncheon last week got an early glance at the industry’s top trends for 2011, from the latest in colored gemstones to designer offerings in that “metal of the moment,” sterling silver.
An annual event, the luncheon was attended this year by leading fashion and accessories editors and stylists from magazines such as Harper’s Bazaar and W, who look to the JIC for direction on the latest in fine jewelry and watch trends, according to the organization, the consumer education arm of Jewelers of America.
When it comes to the latest jewelry, silver designs play an integral role in the trends dialogue, and it isn’t just that the price is right for consumers looking to update their jewelry boxes at self-purchasing price points.
Versatile and fashionable, silver is used in simple yet striking sculptural designs, such as Emanuela Duca’s “Magma” neckpiece, an organic, collar-style design shown at the preview, to more ornate, vintage-style designs, like earrings from Lika Behar featuring moonstones set in oxidized silver and accented with 24-karat gold. See more silver designs from the event on our 10X blog by clicking here.
As with Lika Behar’s design, Emanuela Duca’s neckpiece also featured oxidized silver accented with gold, a metal combination that retailers can expect to be a major trend at the counter in 2011. For retailers who haven’t dipped into the silver marketplace just yet, designer silver-gold pieces, especially those set with diamonds and gemstones and created by names such as Todd Reed and Kimberly Collins, offer higher-end options.
As evidenced via the above pieces, oxidized silver finishes are expected to go strong into 2010, not just when used in combination with gold, but also in silver-only designs, making for edgier looks, as seen in Simmons Jewelry Co.’s three-dimensional charm featuring a menacing skull.
Also appearing at the luncheon were a variety of geometric-inspired silver designs celebrating simplicity of form, from Dogeared’s smooth, circular “Together Forever” bangles to Neda Nassiri’s “Oval Dot” earrings featuring fine silver ovals formed into a diamond-shaped silhouette.
Source: National Jeweler Network
Tags: 2011, gemstone, Jewelers of America, Jewelry Information Center, JIC, lika behar, silver, simmons jewelry co., sterling silver, trends
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June 28th, 2010
New York state’s chief economic development agency will make up to $100 million in loans available for diamond and gem companies that want to buy space in the new International Gem Tower.
Empire State Development announced the availability of the Job Development Authority (JDA) loans at a press conference held Thursday at the agency’s Manhattan offices. During the press conference both Empire State Development Chairman Dennis Mullen and Gary Barnett, president of tower developer Extell Development Co., said the tower would help the New York diamond and gem industry–comprised of many small business owners occupying dilapidated office space scattered throughout the Diamond District–remain competitive with other centers worldwide.
The tower’s amenities will include high-tech security, a private health and fitness club and restaurants.
“All the other diamond trading centers have new buildings,” Barnett said, while noting that the JDA loans were key in a time when it is difficult for small-business owners to obtain loans. The agency projects that the tower construction and the ability of firms to own space inside will preserve and create up to 3,000 jobs. Of those jobs, the agency projects that 30 percent of the positions would stem from jewelry industry tenants who relocate to the tower and expand or new companies moving into the Diamond District from elsewhere. The remainder of the jobs would be added in other sectors, such as construction and service jobs, among others.
But not everybody is on board with cash-strapped New York state making $100 million in loans available to the gem and jewelry industry.
In an article published Thursday morning in The New York Times, “Gem Tower Tenants Could Receive Low-Interest Loans,” the director of Good Jobs New York, an advocacy group that tracks government subsidies, blasted the state for giving “subsidies” to an industry that is so well-established. In the article, the director said catering to the real estate and diamond industries seems “tone-deaf” to the needs of average New Yorkers.
Asked about these criticisms on Thursday, Raizy Haas, senior vice president of property management and development with Extell, said it was a misconception that the loans made available to tower tenants are low-interest loans. They are traditional loans with “typical” interest rates, she said.
“These are not subsidies,” Haas said. “There’s no favoritism. There’s no preferential treatment.”
The 34-story International Gem Tower is under construction on West 47th Street between Fifth and Sixth Avenues in the Diamond District. At the tower’s official launch in May 2009, attended by New York City Mayor Michael Bloomberg, the completion date given for the tower was mid-2011.
On Thursday, Haas said the projected finish date for the project is now the end of 2012. She said about 140,000 square feet of the 748,000 square feet available in the facility is under contract.
Companies that have signed on to purchase space in the tower include security firm Malca-Amit, Diamond Trading Co. sightholders A. Dalumi Diamonds, Sahar Atid Diamonds and Yerushalmi Bros. Diamonds, and the Gemological Institute of America, which will occupy an entire floor.
Earlier this month, the U.S. Department of Commerce approved the tower as a foreign trade zone, meaning business tenants will be able to import foreign merchandise without customs entry or the payment of U.S. duties until the goods are sold. The state estimates that more than 90 percent of the diamonds that enter the United States go through New York City, and that most go through the Diamond District.
When asked if the completion date and the amount of space purchased were in line with the project’s projected goals, Haas said, “for the most part.”
Mullen added that given the current economic challenges, the gem tower project is closer to being on schedule than most of the projects in the state.
Source: National Jeweler Network
Tags: diamond, diamond district, fifth and sixth avenue, gem industry, gem tower, JDA, jewelry, jewels, michael bloomberg, new york
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