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Industry News: Canada’s Dominion Diamond Sold; Show Offerings At JA and Select July 19, 2017 (0 comments)
Diamond Miner Dominion Sold
Northwest Territories, Canada—Salesmanship begins when the customer says “no.” Or in the case of Dominion Diamond, when the buyer comes back with a sweeter offer. The miner, which owns the Ekati mine (left), was purchased by the Montana-based Washington Companies for a cool $1.2 billion, a 44% premium to the miner’s share price.
This isn’t the two companies’ first dance. Dominion’s board previously sent Washington and its earlier $1.1 billion offer packing, saying they had no unique plans for the company. What sweetened the deal? According to reports, Washington promised to operate Dominion as a standalone company headquartered in Canada with Canadian management, extend the life of the Ekati mine, continue partnering with Rio Tinto in the Diavik mine, and maintain long-term employment for Dominion employees. Whether his sales promises come true long-term remains to be seen.
Between last year’s slide in diamond prices and Rio Tinto closing its U.S. office, combining its diamond unit with its copper unit, and abandoning the Bunder project in India, speculation was rampant that the mining giant was looking to get out of diamonds altogether. But Rio Tinto’s new CEO Jean-Sebastien Jacques, who took over last July, has indicated he plans to expand, not divest, the miner’s diamond interests. Rio Tinto owns the Argyle mine in Australia as well as its interests in Canada.
JA Show Offers Education, Certification Exams, Networking, More At Show Next Week
New York, NY – Jewelers of America (JA) is hosting a Designer Preview & Member Meetup on Sunday, July 23, at Clyde Frazier’s Wine & Dine. JA retail members will have the opportunity to mingle with fellow jewelers and enjoy complimentary food and drinks while previewing jewelry from a selection of JA supplier members. The event, sponsored by Synchrony Financial, Jewelers Mutual Insurance Company and United Precious Metal Refining, Inc., is free for JA retail members and press to attend, but registration is required.
JA also offers two days of free seminars during the JA New York Show on Sunday, July 23, and Monday, July 24, at The Jacob Javits Convention Center. The education program, sponsored by Synchrony Financial, will feature nine informational sessions on marketing, social media, customer relationships, and more. See the complete schedule here. JA Retail Members are also invited to attend the next Jewelers of America Idea Exchange on Monday, July 24, from 8:15-10:00 am, on Terrace Level 4A at the Javits Center. The knowledge-sharing session will feature interactive roundtable discussion on email marketing, Instagram and in-store events. Light breakfast will be served.
Sales and Management Professional Certification Exams. JA is offering its Sales and Management Professional Certification exams onsite at the JA New York Show from 10:00 a.m. – 12:00 p.m. on July 23, and 9:00 a.m. – 11:00 a.m. on July 24, at The Javits Center in Room 4A3. The exams will take two hours and cost $55 for JA members and $75 for non-members. Those who register in advance will receive a $10 discount. Click here to register.
Select Jewelry Show Announces 2017 Locations, Exhibitors, Education
New York, NY—The Select Jewelry Show 2017 fall shows will be held in Dallas, TX and Ledyard, CT. The Dallas show will be held at September 10-11 at the Ritz Carlton Dallas, and the Connecticut show on Sept 17-18 at Foxwoods in the Grand Pequot Ballroom and Tower.
The shows directly address better jewelers’ fourth-quarter needs, offering short ordering and shipment times and limited on-site delivery before the holiday season. Both the Dallas and Foxwoods Shows also offer education, the chance to win purchasing credits, and an all-around relaxed shopping experience with great food and a festive cocktail party where attendees can mix and mingle.
“It’s an important time of year for jewelers and our exhibitors are ready to assist,” said Jordan Brockhaus-Spears, Select Show director. “We’re also very pleased to offer hosting packages for qualified jewelers.”
Education. Sunday morning in Dallas features “Making the Grade”’ by Susan Arlin of Brilliant Performance Group LLC. Monday’s speaker is James Porte, Porte Marketing, on print, digital and social marketing for the fourth quarter. Sessions are held during breakfast before the Show opens.
Sunday morning education at Foxwoods features ‘Stay in the Now’ with Jackie LeBental, Trends Editor of The Retail Jeweler magazine. Monday’s speakers are Susan Arelin of Brilliant Performance Group LLC and James Porte of Porte Marketing Group. Both sessions run during breakfast, prior to the Show’s opening.
2017 marks the 8th Select Show in Dallas and the 7th year in Foxwoods. Full information on the show, as well as registration can be accessed at www.selectjewelryshow.com or by calling (646) 517-0660 or 800-552-3790; email info@selectjewelryshow.com.