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Brand And Industry News: Rahaminov’s “Under” Drive; JBT Offers Retailers To Track Credit; More December 30, 2015 (0 comments)
Rahaminov Gives Back For Holiday With Socks And Underwear For Homeless
Los Angeles, CA—Rahaminov Diamonds celebrated the holiday season by giving back, with a “Socks & Undies” drive to benefit the Los Angeles Mission, a homeless shelter in the heart of downtown LA. The Mission is open every single day to those in need of a roof, and feeds around 2,000 people per day. Warm clothes, socks and underwear are given in addition to all the mission has to offer. Left: The Rahaminov team at the Los Angeles Mission.
When Rahaminov first contacted the shelter a few months back to ask what was needed this holiday season, along with all the normal donation requests they also responded that socks and underwear were critical. “We were all shocked to find out that was what they were in dire need of. It was such a simple request that no one could refuse, and we wanted to get everyone involved!” said Amir and Tamara Goldfiner, Rahaminov owners.
While Midwesterners may scoff at the idea of “winter” in Los Angeles (and much of the United States is experiencing an unseasonably warm holiday) temperatures do dip into the 30s in Southern California in the winter, and to those living outside, it’s an even bigger shock. Rahaminov Diamonds was able to donate a large amount of socks and underwear for their first ever Socks & Undies Drive.
“In the hustle and bustle of the holiday season, it is easy to forget about those who face the most difficult circumstances. Who would have known that the gift of giving something simple like socks and underwear during the cold winter could go such a long way,” continued the Goldfiners. “We are so extremely thankful for our business partners, friends, family, and staff members who all jumped in to donate! Together, we helped by bringing warmth to the homeless and made a lot of people happy! Hopefully we can keep this drive going and bring in even more next year.”
JBT Offers RatingWatch Credit Profile Monitor To Independent Jewelers
Warwick, RI—Credit ratings are on everyone's mind today and jewelry business owners reap benefits when they have good credit. Retailers with better credit often have an easier time accessing better products and credit terms. For good business practices and good fiscal health, it's vital to be aware of your businesses credit score.
To assist jewelers in monitoring and improving their credit rating, the Jewelers Board of Trade provides RatingWatch, an economical annual subscription service that electronically provides a monthly credit report snapshot including information and tools to contact JBT for further assistance. Jewelers do not need to be a JBT member to subscribe to RatingWatch.
Sam Edwards of Sam Edwards Jewelers in Chattanooga, TN, learned firsthand how a credit rating can change a business. He used the RatingWatch monitoring service to help him know his progress toward improving his rating over a seven-month period.
“I’ve worked hard, with JBT’s help, to get my rating back up,” he says. “This year, I’m deluged with offers from vendors. Last year, none.” RatingWatch allowed him to access his business’s credit information at any time.
While many retail firms have joined the JBT to access the full array of member benefits, JBT RatingWatch was developed with the independent retail jeweler in mind. JBT actively tracks and communicates with more than 20,000 North American retail firms. Over the years many of these companies—especially those who are conscientious about their credit data, as well as JBT members providing products and services to these companies—have asked us to offer a service that makes it easier to self-monitor credit ratings and communicate updated information to include in a company’s JBT credit file.
“Without compromising the confidential nature of JBT members’ exchange of credit information, this service allows retailers to readily know their credit rating, their JBT ID, how many times their report is being ordered, and key business data on file with JBT,” said Dione Kenyon, JBT President. “JBT RatingWatch data helps subscribers better manage their business partner relationships, including those with vendors, service providers, and major trade shows that utilize JBT in their qualification process. Our hope is that better information leads to better business for all involved.”
A subscription for the service is $199 annually, payable by credit card. JBT is also offering a first-year partner discount for verified members of certain trade organizations.
Why Subscribe?
- Readily access your JBT ID#, credit rating, and JBT representative contact info.
- See a snapshot of key business data on file, plus an easy-to-use update form to get your latest info to JBT, and help maintain your rating.
- Know how frequently credit reports are being ordered on your firm.
- Know your credit profile pro-actively to expedite the credit approval process with vendors and pre-qualification with major trade shows.
Monthly Reports Include:
- JBT ID #
- JBT Credit Rating last updated
- Credit Report last updated
- # of reports ordered in past year on your business
- In addition, each report includes an interactive form enabling you to provide additional information and make changes to current information.
To sign up or for more information, call JBT at (401) 467-0055, visit www.jewelersboard.com, or email JBTRatingWatch@jewelersboard.com.
FTC Issues Proposed Revisions to Guides for the Jewelry Industry: JVC Calls For Action
Washington, DC—The Federal Trade Commission has issued the proposed revisions to the FTC Guides for the Jewelry Industry. The latest draft was issued by the FTC after consideration of the industry’s comments and answers to a series of questions posed by the FTC in 2012. It also follows an FTC-hosted business roundtable on June 19, 2013 in Washington, DC to discuss additional questions pertaining to certain provisions of the proposed revisions, involving precious metal items and products made of corundum and leaded glass.
Comments from the public on the current proposed amendments are due to the FTC on April 4, 2016. The current draft can be found here.
The Jewelers Vigilance Committee intends to reconvene the two groups that participated in submitting industry-wide comments to the FTC earlier; a committee comprised of industry associations, and a second consultative committee that was open to all industry members who wished to participate in formulating the response. These committees will work to provide another industry-wide response to the FTC’s draft.
JVC CEO Cecilia L. Gardner, Esq., said, “This is the next step in the important process of revising the FTC Jewelry Guides to meet the challenges of the 21st century. JVC intends to ensure that our industry expresses its views on how best to formulate the standards by which our industry operates in a legal and ethical manner. We look forward to working with stakeholders from every sector to provide useful comments to the FTC in the process of revising the Guides.”
The FTC issued a statement of “Basis and Purpose” regarding their proposed revisions which can be read here, and anyone who wishes to file comments can click here or mail their comments to: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue, NW, Suite CC-5610 (Annex O), Washington, DC 20580.
Israel Diamond Exchange Announces New Board
Ramat Gan, Israel—Yoram Dvash, newly elected president of the Israel Diamond Exchange (IDE), has completed his appointments of board members and committee heads. They are:
Yoram Dvash, president; Yehezkel Blum, executive vice president; Shalom Papir, senior deputy president; Yaacov Ahron Shely, vice president and treasurer; Eli Shiri and Yoram Harel-Haimoff, vice presidents in rotation; and Shai Schnitzer, honorary secretary. Board members are Chaim Volner, Emma Janover, Philippe Frey, Herzel Siton, Shlomo Eden, Hani Israel, and Ilan Samuel.
Committee chairs are Boaz Moldawsky, Eyal Fruchter, Meir Dalumi, Eli Shiri, Yehezkel Blum, Shai Schnitzer, Herzl Siton, Yoram Harel-Haimoff, Ilan Samuel, Moti Fluk, Philippe Frey, Emma Janover, and Chana Israel.
Dvash said the mix of young and experienced members on the board equips the industry to cope with today’s challenges.