Skip to main content Navigation
Frederic Sage Ad

Articles and News

Smart Age Ad
Gordon Company Ad
Bellarri2 Ad
Smart Age Ad
Precision Set Ad
Dilamani Ad
Smart Age Ad

Industry News: DEF ‘Diamonds Do Good Gala’ Raises $1 Million; Spinel New August Birthstone; More June 08, 2016 (0 comments)

2016_6_9_KentWong.jpg

DEF Diamonds Do Good Awards Gala Raises $1 Million+ For Education

Las Vegas, NV—Three global industry leaders were honored for their outstanding leadership and service at the Diamond Empowerment Fund’s Diamonds Do Good Awards Gala, held Thursday, June 2. Nate Light, former CEO of Sterling Jewelers, Dorothée Gizenga, executive director of the Diamond Development Initiative, and Chow Tai Fook Jewellery Group were recognized for programs that have left a positive impact on communities from the United States to China to Africa. (Left: Kent Wong, CEO of Chow Tai Fook Jewellery Group accepts the company's award.)

Four student scholars whose educations were funded in part by Diamond Empowerment Fund monies addressed the audience and presented the awards to the recipients. Androulla Markus of Botswana, a graduate of the African Leadership Academy and recent graduate of Columbia University, said, “Diamonds have played a pivotal role in who I am today and who and where I will be in the future. My plan is to complete medical school, earn a degree in public health and return to Botswana and effect change both at the individual and public level.”

Four African students whose educations were partially funded by DEF monies made the awards presentations and told the audience about their educational experiences, all of which are culminating at top prestigious U.S. universities.

Light received the Diamonds Do Good Lifetime Achievement Award for his influence in spearheading the industry’s “Party With a Purpose,” and inspiring what is now called Jewelers For Children. He said, “This honor is truly a wonderful and symbolic highlight of my career. I want kids as they grow up not to have to suffer. We need to keep raising money to create a better life and a better world for them. I challenge you to use this as a call to action to do even more for kids and for your community.”

Chow Tai Fook managing director Kent Wong accepted the Diamonds Do Good Community Development Award for the company. “For 87 years we have been upholding our belief ‘From the Society, For the Society’ and have been devoted to supporting charitable activities and social services for the betterment of future generations.”

Dorothée Gizenga, who received the Diamonds Do Good Award for Sustainable Practices for her work with the Diamond Development Initiative, gave an impassioned speech on the need to keep encouraging these practices throughout the mining industry. “The very livelihood of millions of people in some of the poorest countries in the world, survive because of diamonds. We must maintain consumer confidence in the industry to keep the industry thriving. And to do so means the practices we all embrace must be sustainable and embody integrity.”

DEF board president Phyllis Bergman, CEO of Mercury Ring, summed up the evening. “As colleagues in the industry, we are all driven by a shared desire to do well and to do good. Tonight we raised over one million dollars that will go towards scholarships for deserving young people around the world. We need to share our good stories with others outside the diamond industry and raise even more money so that thousands more deserving young people will benefit from the Diamond Empowerment Fund’s global mission.”

Premier Presenting Sponsors of the Diamonds Do Gala included Chow Tai Fook Jewellery Group, Inc., De Beers Group of Companies, and Signet Jewellers Limited (Kay Jewelers, Jared the Galleria of Jewelry, Zales Jewelers). Patron Sponsors were JCK and Rosy Blue Group, and Partner Sponsors included ALROSA, Exelco and Le Vian Group.

Forevermark was one of the premier presenting sponsors of the Diamond Empowerment Fund's Diamonds Do Good Awards gala.

 

JFC’s Fourth Annual Rings of Strength Raises More Than $50,000

New York, NY—More than 160 intrepid participants rose before dawn for the Jewelers for Children Fourth Annual Rings of Strength Tour on Thursday, June 2 in Las Vegas. The 5:30 a.m. event offered the opportunity to either walk or run a 5K, or bike one of two courses, a leisurely 15K route or a challenging 50K route. An option for yoga was also available. Participants built their own fundraising websites and collected more than $50,000 to support Jewelers for Children.

"It’s truly overwhelming to see so many willing, happy folks turn out at 5:30 a.m. to help support the JFC mission!" said Debra Puzio, JFC’s vice president for special programs.  “Every year we welcome new people and new companies to this fabulous event and with the success of this year’s event, we have surpassed $ 225,000 in fundraising for JFC!"

Bright-eyed and bushy-tailed Rings of Strength participants gathered at 5:30 a.m. to run, walk, or bike to raise money for Jewelers For Children.

The event attracted both individuals and teams of industry supporters. Teams were organized by Quality Gold, Blue Nile, HL Manufacturing, Women’s Jewelry Association, Stuller, Starluxe, JCK, Signet Jewelers, Canada, Bahama Gem, Assurant, Ben Bridge Jeweler, Vicenzaoro, Dean’s Jewelry, BIG, Radiance JD, JCK-JIS-Luxury, Greens Jewelry, BASCH, Nishi Pearls, and Bailey, Banks & Biddle. 

Sponsors for the event included: JCK Events, JIS Exchange, Blue Nile, Brinks, Assurant, Rio Tinto Diamonds, Freeman Expo Service, Cmac Transportation,  and Ashi Diamonds. 

 

COUTURE 2016 Design Awards Celebrate Beloved Industry Legend Edelstein

Las Vegas, NV—Nearly 1,000 designers, retailers, and editors gathered to celebrate the 2016 winners of the COUTURE Design Awards, and to honor industry icon Cindy Edelstein, whose sudden death in January stunned the designer community.

Gannon Brousseau, vice president of the Couture show, welcomed guests and thanked this year’s Couture Awards judges, Soraya Cayen, John Green, Rachel Garrahan, Adam Glassman and Arun Bohra.  

A new element to the awards included a live vote for the People’s Choice Award, as audience members cast their votes by text. The winner was Anita Ko. 

The Couture community paid tribute to Cindy Edelstein by renaming the Couture Human Spirit Award the Cindy Edelstein Award. Edelstein, who was a tireless advocate and helpmate for jewelry designers, was responsible for organizing the Design Atelier at Couture. A video commemorating Edelstein highlighted her impact on the jewelry industry.

“Her generosity, commitment and dedication to the designers she nurtured goes unmatched,” said Todd Reed, winner of last year’s Human Spirit award, who presented the newly commemorated Cindy Edelstein Award to Edelstein’s husband and daughter, Frank and Remy Sasha Stankus.

Frank and Remy Stankus at the Couture Design Awards, which honored Cindy Edelstein, their late wife and mother, respectively.

Here are all the winners:

Best in Bridal:

Best in Colored Gemstones Above 20K:

Best in Colored Gemstones Below 20K:

Best in Diamonds Above 20K:

Best in Diamonds Below 20K:

Best in Gold:

Best in Haute Couture:

Best in Innovative:

Best in Pearl:

Best in Platinum:

Best in Silver:

Best in Debuting in COUTURE:

Editor's Choice Award:

People's Choice Award:

To view more images, click here. 

 

Spinel Added As An Official Birthstone for August

New York, NY—The American Gem Trade Association (AGTA) and Jewelers of America (JA) have announced that spinel will join the official list of birthstones for the month of August. Spinel as a new birthstone will launch to consumers in July through a public relations and marketing campaign led by JA. Although birthstones have their roots far back in recorded history—strongly influenced by Biblical teaching and related to the 12 stones in the breastplate of Aaron as well as the lunar calendar, according to AGTA president and CEO Douglas Hucker—the modern birthstone list was established by JA in 1912. 

"At certain moments in history, when there is a strong call from gem enthusiasts to expand the list of official birthstones, Jewelers of America believes in recognizing the importance of historically significant gemstones and giving gemstone lovers a choice that suits their preferences," says David J. Bonaparte, JA president and CEO.

"Ancient gemstone merchants revered spinel, and it was widely sought after by royalty. It was then known as 'Balas Ruby'," says Hucker. "It wasn't until the late 18th century that we developed the technology necessary to distinguish spinel as a separate mineral from ruby." Two notable examples of spinel's historical significance include a 170-carat red spinel, known as the famed “Black Prince Ruby," that graces the Imperial State Crown in the British Crown Jewels; and a 398-carat red spinel--considered the largest ever found—atop the Imperial Crown of Russia, commissioned by Catherine the Great in 1763.  

This is the third update to modern birthstone list since 1912 when it was created by the American National Retail Jewelers Association (now JA). It was updated in 1952, adding alexandrite (June), citrine (November), tourmaline (October) and zircon (December) as birthstones, and again in 2002, when Tanzanite was made an additional December birthstone. 

For more information on the promotional opportunities related to spinel's public launch as a new August birthstone, check Jewelers of America's website at www.jewelers.org/ja in the coming months.

For a full list of birthstones, click here.

 

Diamond Prices Soften in May

New York, NY—Polished diamond prices declined slightly in May with buyers waiting for the Las Vegas shows. Trading at the JCK Las Vegas show, which took place June 3 to 6, was relatively weak with traffic slower than previous years. 

The RapNet Diamond Index (RAPI™) for one-carat, GIA-graded diamonds was flat in May. RAPI for 0.30-carat diamonds fell 1.1% and RAPI for 0.50-carat diamonds slid 0.3% during the month. RAPI for 3-carat diamonds dropped 1.1%.

During the first five months of the year, RAPI for one-carat diamonds rose 1.2% but remained 4.9% below its level from a year ago.

The Rapaport Monthly Report acknowledged that U.S. demand is steady and the country remains the best market for diamond dealers. But weaker economic trends in a contentious election year are impacting sentiment in the trade. Polished demand is specific and businesses across the pipeline are working with smaller inventory. Meanwhile, polished production continues to rise and rough diamond demand remains robust. De Beers sold $630 million worth of rough in May and strong ALROSA sales helped the Russia-based company reduce its rough inventory from 22 million carats recorded at the beginning of the year to less than 18 million carats at the end of the first quarter.

The Las Vegas shows highlighted significant challenges facing the diamond industry in light of the relationship between the rough and polished markets, raising levels of consumer demand, how to sell the idea of diamonds to Millennials, rising interest in lab-grown diamonds, and responsible sourcing, all of which issues were addressed at both the annual Rapaport Breakfast at the JCK show and a new Rapaport Town Hall meeting on Monday, which opened a debate about whether lab-grown diamonds have an ethical edge over natural diamonds.

“The diamond industry must establish reliable chain of custody and source certification protocols to ensure that legitimate diamonds from good firms are differentiated from unknown diamonds from questionable sources. The industry must be able to answer the question, ‘where do our diamonds come from?’” said Martin Rapaport, chairman of the Rapaport Group.

The Rapaport Monthly Report can be purchased here.

Share This:

Leave a Comment:

Human Check


articles by date