Articles and News
BRAND AND INDUSTRY NEWS: AGS’S LAB BUYBACK, FIREMARK’S PATENT, RIO TINTO’S DIAMOND STORY, MORE June 06, 2012 (0 comments)
AGS Now Fully Owns Its Lab
Las Vegas, NV—The American Gem Society now holds a 100% ownership stake in its gem laboratory. The announcement of the Society’s acquisition of the remainder of its lab (it previously owned a 51% stake) was made at a press conference Friday during the JCK Show in Las Vegas. The laboratory now is a wholly owned subsidiary of AGS.
AGS and a group of private industry investors founded the lab 15 years ago, and was the first major laboratory to introduce a cut grade. Its cut grade still is recognized as an industry-leading standard.
Ruth Batson, executive director of AGS, said that while private investment money was necessary to launch the lab, the ultimate goal always was to have it be wholly owned by AGS. The lab will continue to have its own separate board of directors and be focused on consumer protection. In a statement, both organizations say the combined forces of the lab and the association will allow for more unified brand promotion and give AGS a stronger financial future.
Hasenfeld-Stein’s FireMark Receives U.S. Patent
New York, NY—Diamond Trading Company sightholder Hasenfeld-Stein has officially received a patent for its FireMark princess cut. The U.S. Patent and Trademark Office has issued U.S. Patent No. 8,181,482 for the stone. The patent protects FireMark's unique features and characteristics that separate it from any other princess cut, as well as characteristics that result in high levels of brilliance and light return--which average 98%.
Hertz Hasenfeld, vice president of Hasenfeld-Stein, expressed the company's gratification. "We've always said there is no other princess diamond in the world like FireMark, and now, with the newly issued patent, it's somewhat humbling to think there won't be another like it for a very long time to come."
Hasenfeld also expressed how important the patent is to the growing number of FireMark retail jewelers. "It protects our exclusive retailers against competitors making false claims, and it makes a strong statement that FireMark retailers are selling real value. It is not only our Hasenfeld-Stein team that is feeling this immense sense of pride. Our retailer members of the FireMark family have expressed their pride as well."
FireMark is the first princess diamond in the world that rivals an ideal round in brilliance and light return. "After years of trial and error, we determined that the combination of a higher crown, smaller table, and shallower depth dramatically impacts the diamond's light performance," explains Hasenfeld. A FireMark's crown averages between 9.5 and 13.5%; the table is a maximum of 68% (averaging 65%); and the depth is a maximum of 70.9% (averaging 68%). Other characteristics that distinguish a FireMark are:
- GIA "Excellent" in both polish and symmetry
- GCAL "Excellent" in light performance
- Minimum 95% light return (average 98%)
- Maximum length and width ratio of 1.025
- Chamfered corners that are invisible to the naked eye
FireMark princess cut diamonds are available to independent retailers only. They are not available on the Internet or major U.S. chains and mass merchandisers, and are not any industry diamond lists. For more information about the stones or the patent, contact Hertz Hasenfeld, or for information on how to become an exclusive FireMark retailer, call Steve Feldman, director of sales and marketing, (212) 575-0290.
MJIA Is Born in Vegas With a Bit of Tongue In Cheek
Chris DeCapri
Las Vegas, NV--Retail jeweler Chris DeCapri of Capri Jewelers in Richmond, VA had a party in Las Vegas to thank his friends for their support. DeCapri's party also ushered in the launch of the all-new Misfit Jewelers Industry Association (MJIA).
Watch this video for an interview at the Vegas party with DeCapri and event attendee Shelia Bayes of Sheila Bayes Jewelers, Lexington, KY.
Rio Tinto Launches Diamonds With A Story
Las Vegas, NV—The jewelry industry knows how diamonds are mined, but the story—which is rarely told anymore—has the potential to capture consumer imagination and provide a compelling reason to buy. This is the driving force behind a new marketing initiative of Rio Tinto Diamonds called “Diamonds With A Story.”
“There’s so much romance here, but we focus so much on the Four C’s and don’t remember to tell the story of where a diamond comes from,” says Rebecca Foerster, who heads marketing for Rio Tinto in the United States.
The initiative will center around the four categories of diamonds Rio Tinto produces: Australian diamonds from its Argyle mine, which in addition to smalls also produces rare fancy color diamonds, most notably pinks; Canadian diamonds from its Diavik mine in the Northwest Territory, champagne diamonds from its Argyle mine, and Silvermist, gray diamonds from Argyle.
Not only is there a scientific story to tell of the mining process itself, but there’s a wonderful social aspect to the story, she says: the diamond mining industry provides jobs, and helps build schools, roads, and infrastructure in the communities around the mines, Knowing the good that comes from diamonds will appeal to today’s socially-conscious Millennial consumer, says Foerster.
The “Diamonds With A Story” campaign currently is being test-marketed in several major jewelry retailers, and meeting with success, says Foerster. Names of the test retailers were not disclosed at press time.
Greek Designer Makes U.S. Debut at Couture
Las Vegas, NV--Greek fine jewelry designer Costis made his official U.S. debut as one of the few new designers admitted to the Couture Show this year. Having achieved widespread success throughout Greece and Italy, Costis Chamamtzis’ collection of moveable, wearable art combines natural elements with architectural structure in each of his pieces, reflecting his major design influences. Costis is inspired by life and movement and combines mechanics and form in his creations with the belief that jewelry should be as “alive as the person wearing it.”
Costis explains his design philosophy, “creativity has no limits and dynamic design is our power.” He developed his artistic eye as a child growing up in Greece, which led him to study jewelry and industrial design at the prestigious Benvenuto Cellini Institute of Art in Valenza, Italy. In 1994 he founded Costis House of Jewelry and Design, solidifying his identity as a designer. Each piece of Costis Jewelry is hand-made at his workshop in Valenza.
Costis' "Beehive" rings with gems and diamonds.
MJSA Publishes Secret Shop Weapons
Attleboro Falls, MA—MJSA Press has published its latest book, Secret Shop Weapons, in which print and digital combine to reveal the favorite shop tools of more than 30 acclaimed jewelers and designers. The 160-page volume features tools of every size, shape, and type, from the high-tech (lasers, CAD/CAM, laptops) to such traditional favorites as gravers, hammers, and saws. In separate chapters, the jewelers and designers discuss why the tools are so valuable, how they're used, and what breakthroughs they've helped to achieve.
The book also includes dozens of related "Secret Shop Tips" for jewelry making and design, as well as step-by-step projects showing several of the tools in action. More projects are available online at a special Secret Shop Weapons page on mjsa.org, which readers can access by using a password provided in the book. New videos and slide shows will be posted regularly, and readers are invited to submit their own "secret weapons," adding a "virtual chapter" to the book.
The book is available for $34.95 from MJSA and other leading industry distributors. MJSA members who order through the association receive a 15% discount. Primary sponsor is Rio Grande, Albuquerque, NM.