Retail

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Jewelers of America, the Jewelers Vigilance Committee and the Women’s Jewelry Association joined 90 other retail industry trade groups in signing a National Retail Federation letter to the White House urging the Trump Administration to protect public health and minimize the economic impact of the coronavirus pandemic. Other similar communications have also been sent to the Department of the Treasury and Congress.
 

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The Dubai Diamond Exchange (DDE) will hold an in-depth discussion on the issue of synthetic diamonds on the second day of the Dubai Diamond Conference on the theme of ‘Lab-grown diamonds and their disclosure: Is there a problem?’

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The issue of Corporate Social Responsibility (CSR) strategies in the gemstone and jewelry sectors came under the spotlight at a seminar held at the VICENZAORO January show in Vicenza, Italy, on January 24.

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India's gold and jewelry markets began re-opening on Monday after traders ended an almost three-week strike.

The industrial action caused huge revenue losses for businesses, while the government lost taxes of hundreds of millions of dollars.

The strike aimed to lead the government to repeal a 1% excise duty on gold and diamond jewelry that was proposed in the 2016-17 budget.

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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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The Forevermark diamond brand has launched its first India-specific advertising campaign, featuring Capricci, a nose pin collection which has been released across all advertising formats.

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New York property developer and ex-diamond dealer Gary Barnett is will fundamentally change the city’s Diamond District if plans go ahead, says a report in the New York Post.  

Barnett has reportedly spent years buying 10 buildings in the Diamond District’s 47th Street, 46th Street and Fifth Avenue corridor. He plans to demolish them all — perhaps to build a giant diamond hotel, the report says.

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A  study in Britain has underlined the continuing importance of physical stores in driving retail sales.

The survey makes for interesting reading given the emphasis placed by Millennials on digital connections.

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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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Around 280 American jewelry businesses closed down in the third quarter, a 29-percent rise on the same quarter in 2014, according to the Jewelers Board of Trade (JCT).

Including companies which were sold, merged or announced bankruptcy, the figure jumps to 318, which the JBT said was a 20-percent rise on the third quarter of last year.

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