Articles and News
INDUSTRY NEWS: DE BEERS REORGANIZES AGAIN; HOLIDAY SALES SET TO RISE; MOB GETS INTO ITALIAN GOLD October 03, 2012 (0 comments)
De Beers Announces Realignment Of Corporate Identity
London, United Kingdom—From the Central Selling Organisation to the Diamond Trading Company, De Beers has once again announced a shift in its corporate structure and identity.
In a letter to sightholders, CEO Varda Shine spelled out some of the changes, which include changing the corporate name from the De Beers Family of Companies to the De Beers Group of Companies, and the phasing out of the Diamond Trading Company and Diamdel brands. In the letter, which was obtained and released by Rapaport, Shine stresses the changes are subtle but important, and that sightholders of the DTC now will be sightholders of the De Beers corporation.
Read the letter here. Read IDEX Online’s report here.
Separately, De Beers also announced the appointment of Anglo-American CEO Cynthia Carroll as chairman. Two other Anglo American executives also were appointed as board members, Brian Beamish and Peter Whitcutt. Read more here.
Italy's Gold Export Figures Tainted By Mob Involvement
Italy, European Union—Just as the high price of gold drives Americans to unload old jewelry with either their jeweler or an increasing plethora of “cash for gold” shops, the same is happening in Italy. As the country struggles to right its economy—and the world watches with a wary eye to see if it’s in danger of becoming the next Greece—cash-strapped Italians are flocking to unload their unworn jewelry.
But while in the United States the most consumers have to worry about are annoying cash-for-gold TV ads, Bloomberg reports that in Italy, the Mafia has gotten in on the gold-buying action, using scrap gold as a means of laundering money. According to this video, the gold is melted, then sent to Switzerland, making gold once again one of Italy’s premier exports, despite official figures that since the price of gold and the decline of the dollar have suffered greatly from the country’s heyday as a gold jewelry producer.
ICSC, NRF Predict Holiday Sales Up; Shop.org Forecasts 12% Online Increase
New York, NY—The International Council of Shopping Centers is predicting a modest gain of 3% for holiday 2012 sales at shopping centers. In a statement released earlier this week, ICSC predicted sales at shopping centers will rise from $454 billion to $463 billion. This includes sales of general merchandise, apparel, furniture, and other sales. The National Retail Federation, meanwhile, predicts a 4.1% increase in sales this year, higher than the 10-year average of 3.5% annual holiday sales growth. Actual holiday sales in 2011 also were well above average, at 5.6%.
ICSC also predicts a slight uptick—0.4%—in the number of seasonal workers to be hired this year. In a survey by the Philadelphia, PA-based Hay Group, 74% of those workers will be in-store, while the remainder will be for distribution centers. These findings underscore the continued strength of brick-and-mortar over online, says ICSC. Figures from the National Retail Federation show holiday hiring to be about on par with last year.
Separately, Shop.org released its first-ever holiday forecast, predicting online sales will rise 12% for November and December, over last year’s figures. The U.S. Department of Commerce estimates 2011 Q4 online sales—which also include October, unlike Shop.org’s figures—rose 15% over 2010.
GIA, AGS FL Guilds Invite Centurion South Beach Attendees to Estate Event
Miami, FL—The South Florida Chapter of GIA Alumni and the AGS Guild of South Florida are hosting a lecture about valuing antique and estate jewelry on Friday, October 5. Gloria Lieberman, founder of Skinner’s Fine Jewelry department and a renowned expert in antique and estate jewelry will be the speaker. The event is set for 7 p.m. at the Miami Beach Convention Center. Tickets are $30 in advance, $35 at the door, but attendees who register online will receive a coupon ($20 value) for admission to the Miami Beach Antique Jewelry and Watch Show. For information, contact April Matteini, april@amatteini.com, or (561) 613-3387.
Palladium Competition Draws 300
Billings, MT—The Palladium Alliance’s “Biggest Jewelry Design Contest Ever,” which offers 100 jewelry designers a chance to share up to $1 million in prizes, drew 313 entries in its inaugural year.
The competition was open to designers and retailers in the United States and the District of Columbia. All entries had to feature 95% palladium alloy as the only precious metal design element. Initial entries included a detailed drawing, CAD rendering, or photo of the proposed design, and a panel of industry experts will now score those entries based on how well each design highlights the key qualities of palladium: its natural whiteness, durability and light weight.
Up to 100 finalists will be notified this week to begin work on their finished pieces, which are due by December 17, 2012. If the piece passes a final review of its craftsmanship, practicality, wearability, and marketability, the entrant will be declared an official winner. Each of up to 100 winners will receive a refund check equal to the cost of the 950 palladium alloy used in their winning piece (up to five ounces), along with a professional photo of their winning design. They also will receive inclusion in a major stylist showroom throughout 2013 for possible use in celebrity dressings at major events such as the Golden Globes, Emmy Awards, and Oscars; and other prizes. The three top designs will have the winners’ names and pieces featured in PAI print ads in top fashion magazines, such as InStyle, W, Elle, Marie Claire and Cosmopolitan. In addition, the Grand Prize winner will receive a contract to create a line of palladium jewelry with PAI supplying up to thirty ounces of 950 palladium alloy to facilitate manufacturing of the line. Total value of the available prizes: up to $1 million in cash and promotional consideration.
Palladium Alliance International is the world’s first organization dedicated to promoting palladium as a luxurious, precious and distinctive jewelry metal.