Articles and News
Industry News: Canadian Diamonds To Double; JFC Joins Ebola Fight; MJSA Offers Learning Conference October 15, 2014 (0 comments)
Jewelers for Children Donates Towards Ebola Fight
New York, NY—Jewelers for Children has made a $ 100,000 donation to Save the Children’s Ebola Children’s Relief Fund, to support efforts in fighting the deadly disease. JFC received pledges from donors including Sterling Jewelers, Pandora, JCPenney, Jewelers Mutual Insurance Company, and Hearts On Fire, to assist with this support.
“Everyone is concerned about the rapid spread of the virus in Africa and so many children have died and many more are now orphans,” said Ruth Batson, JFC board chair. Our generous industry has once again stepped up to help in a crisis where children are involved.”
Save the Children, the Wilton, CT based non-profit dedicated to creating lasting change in the lives of children in need, has been a JFC recipient charity in the past, following the devastating tsunamis in Phuket and Japan and the earthquake in Haiti. Save the Children has been on the ground in Africa since the crisis began, building treatment centers, supporting the orphans, and conducting education on preventing the spread of the virus.
“With the on-going support of this great industry, JFC will be making a difference in the lives of the children involved in this tragic event. We know of no better organization that Save the Children to represent the industry’s support in the relief effort,” added Batson.
Canadian Diamond Output Set To Double
Northwest Territories, Canada—With two new mines, Renard and Gahcho Kué, now in the construction phase, it’s feasible to expect diamond production from Canada to double in the next four years.
According to industry analyst Paul Zimnisky, Stornoway Diamonds (TSX: SWY) in July completed a C$964 million financing package to fund construction of Renard. In September, Mountain Province Diamonds (TSX: MPV) closed a C$100 million equity financing and is in the final stages of arranging US$370 million in debt to fund its portion of Gahcho Kué’s capital expenditure.
Canada currently represents an estimated 14.2% of the world diamond production in value, he writes, and 8.7% in carat volume. The two new mines, set to commence production in 2016/2017, are estimated to boost Canada's global market share to 25.2% in value, and 15.1% in volume by 2018, which would give Canada the highest compound annual growth rate of production (20.2% in value and 17.4% in volume) among the worlds 8 largest diamond producing nations over the next 4 years.
Top image: BHP Billiton's Ekati mine in Canada's Northwest Territories
MJSA ConFab Returns to FIT November; Also Offers Online Learning
New York, NY—Manufacturing Jewelers and Suppliers of America will present its third annual MJSA ConFab conference Nov. 2 at the Fashion Institute of Technology in New York City.
“Some of the jewelry industry's best business minds will offer what they know about running—and profiting from—a successful operation,” says David W. Cochran, MJSA president and CEO. “From the basics of developing a business plan and a viable collection, to pricing, merchandising, and marketing, this year's ConFab will again feature the type of information that can be put to use directly and immediately by jewelry makers and designers who are new to our field.”
Among the topics and presenters for the 2014 conference are:
Business 101: The Basics Every Jewelry Business Person Needs to Know: Ben Janowski, owner of Janos Consultants and an experienced top management specialist and strategist in the worldwide jewelry industry, will help attendees understand current business conditions and what it takes to create a sustainable jewelry business. He’ll talk about the development of a business plan, criteria for product development, establishment of target markets, internal requirements, timelines, sourcing options, and financial and pricing basics.
• Legal 101: A Jewelry Business Guide to Laws and Regulations: Suzan Flamm, senior counsel at Jewelers Vigilance Committee, the jewelry industry’s legal expert, will cover laws that impact the making and selling of jewelry. It will be an easy-to-understand introduction to legal compliance for jewelers, including: protecting intellectual property, marking precious metals, and creating legally compliant advertising. Flamm will also help attendees understand their anti-money laundering obligations, as well as the Kimberley Process for conflict diamonds.
• Merchandising: Creating a Line That Sells: Cindy Edelstein, owner of the Jeweler’s Resource Bureau, will outline how designers can create an overall design concept, direction, and merchandise mix. Based on her long experience working with designers and seeing what works (and what doesn’t), Edelstein will share a plan for developing your own viable collection, which can grow and evolve over the lifespan of your business.
• Digital Marketing: A 2014 Update: Eugene Brill, vice president of operations at Jewelry.com, a Richline Group venture, will share the latest on search engine optimization, search engine marketing, pay-per-click, and social media. Among MJSA’s most popular speakers on Internet marketing and communications, Brill’s updates prove the only constant in life is change.
• Photography: Creating Images That Sell: Matthew Perosi, principal of JewelerWebsites.com, returns with a popular presentation from MJSA Expo New York. Attendees will learn the basics of how to take photos that compel customers to give their jewelry a second look, in a competitive online environment where good images are essential for success in marketing.
To learn more and register, click here.
Separately, MJSA will be offering online learning webinars for jewelry makers and designers in the months of October and November, taught by well-known small business industry consultant Andrea Hill, owner/CEO of Hill Management Group and StrategyWerx. In Better Subcontracting for Jewelry Makers and Designers on Oct. 17, Hill will explain how to develop successful relationships with subcontractors–the experts who perform the CAD/CAM, casting, setting, finishing, and other processes needed to bring jewelry designs to life. The webinar will teach attendees how to evaluate contractors and their capabilities, communicate expectations and understand theirs, establish a successful working relationship, and manage outcomes. The webinar will also help non-bench-trained designers do a better job in speaking the language of jewelry making.
In Getting Lean for the Small Jewelry Maker or Designer on Nov. 7, Hill will explain how to run a small jewelry business as efficiently as possible using the lean management 5S concept, which means Sort (remove/reduce), Straighten (streamline/organize), Shine (clean/inspect), Standardize (create a standard of consistent behavior), and Sustain (commit to repeatable behaviors).
MJSA Online Learning Webinars are $15 for MJSA members, and $25 for non-members. For more information and to register, click here.