Jewelry

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The Indian luxury market, including high-end jewelry grew by 25% last year, reaching $15 billion, and recent studies in the country provide encouraging news for the future of the Indian luxury market which has seen many global players enter it in recent years despite an economic slowdown.

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Online diamond and jewelry retailer Blue Nile is opening another bricks-and-mortar location as it seeks to unite Internet sales with a brick-and-mortar presence.

The new 'Webroom' will be opened this summer at the Washington Square Mall in Portland, Oregon.

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Analytics company comScore predicts a 14-percent increase on last year in November-December 2015 holiday season spending. Total online retail spending is seen reaching $70.1 billion.

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The U.S. economy expanded at a rate of just 2% in the third quarter of this year which was less than previously officially reported by the government.

The revised figures indicate that more than six years into a recovery, the economy is growing at a rate that that is lower than the historical average.

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CEO Sidney Toledano said that although China's rate of economic growth and demand for diamonds is declining and luxury sales are also on a downward trajectory, the jewelry and fashion house is still seeing solid consumer demand.

In particular, demand is strong for jewelry.

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The World Diamond Mark Foundation (WDMF) said it was very pleased with the outcome of the meeting held by a number of the major producers - as reported by Bloomberg News - who met in London to discuss diamond marketing, industry research and the threat to consumer confidence from undisclosed synthetic stones entering the market.

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Luk Fook Holdings Ltd. reported poor results for its same-store sales at its operations during the Chinese New Year holiday with a decline of 21 percent on the year overall.

Meanwhile, same-store sales for gold plunged 29 percent on the year, and sales of gem-set jewelry dropped by 10 percent.

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The HKTDC Hong Kong International Jewellery Show and the HKTDC Hong Kong International Diamond, Gem and Pearl Show are gearing up for taking place in March.

The two shows attracted a record-breaking number of exhibitors in 2014, hosting more than 3,850 exhibitors from 53 countries and regions, and welcoming over 74,000 visitors from 145 countries and regions.

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The widely watched National Retail Federation (NRF) predicts a rise of 4.1 percent in retail sales this year, compared with 3.5 percent seen in 2014.

The industry organization also projects non-store sales in 2015 to rise between 7 and 10 percent. The 4.1 percent rise would see the biggest annual growth rate since 2011 when retail sales jumped by 5.1 percent.

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Ben Smithee, a consumer-trends expert who was nominated as one of the 'Top 10 Youth Marketing Professionals in the U.S.', will deliver the keynote presentation on wearable technology and other "disruptive" trends at MJSA Expo New York, March 8-10 at the Hilton New York. The MJSA is the Manufacturing Jewelers & Suppliers of America.

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