Annie Doresca and Michelle Graff welcome Reggie Johnson and Sheryl Jones for a frank conversation on the state of DEI in fine jewelry.
On Data: A Merry December for Independents So Far
The Edge Retail Academy’s Sherry Smith returns with a mini-update on how the holiday season is going.
Today, I’m back with a mini month-to-date update for December, since it is one of the most important months of the year for retail jewelers.
With only seven days left until Christmas, independents are showing a 3.2 percent uptick in gross sales for Dec. 1 to 14 when compared with the same period in 2018.
The number of units sold continues to trend down at -8.2 percent, but the average retail sale is up 8.4 percent year-over-year, currently at $348.
The diamond fashion jewelry category continues to stand out with a 5.6 percent increase in gross sales and a 4.4 percent increase in units.
However, the average retail sale for diamond fashion jewelry has slipped 2.3 percent. It is currently at $1,465, down from $1,500.
Also, I need to mention the colored stone and pearl category, which is up 1.5 percent in gross sales year-over-year, down 7.7 percent in units but only down by $3 in average retail sale.
If the month-to-date growth continues, independents will finish up in calendar year 2019, topping the majors’ performances.
Look for my next mini month-to-date briefing on Monday, Dec. 23.
Jeff Gennette will step down in February 2024, passing the torch to the CEO of another notable retailer.
Artisan Martin Roberts fashioned lunar meteorites into 48 beads to create this out-of-this-world necklace.
Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.
As for new members, the organization welcomed Jewelers of America’s Annie Doresca and Parag Jain of Parag Diamonds.
Jacob & Co.’s new “Billionaire” timepiece features more than 200 carats of yellow diamonds.
Heidi Horten, wife of department store magnate Helmut Horten, collected jewelry from Bulgari, Cartier, Harry Winston and Van Cleef & Arpels.
De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
The jewelry industry insurer and solutions provider is celebrating 110 years in business this month.
The statement came as the National Retail Federation released its retail sales forecast for 2023.
Sotheby’s will auction the diamond, which it says is “arguably the most significant pink diamond to ever appear at auction,” in June.
The retailer, recently acquired by Signet Jewelers, will lay off 119 employees in July.
The Swiss watchmaker introduced 17 new models at Watches & Wonders Geneva.
As part of the promotion, Smith will share his sales expertise during a 90-minute training session.
At Watches & Wonders, the Swiss brand unveiled a follow-up to last year’s Tonda PF GMT Rattrapante.
The “rêve” collection’s engagement rings and wedding bands are geared toward “sustainability minded customers.”
A new word appears on the dial each day of the week.
Bensons Jewelers closed for good Feb. 24, impacted in part by the decline in foot traffic downtown since the onset of the pandemic.
Kolja Kiofsky has been with the crystal and jewelry company since 2010.
The Kruse GWS Auctions sale will include the replica “Taj Mahal” necklace Elizabeth Taylor made with Avon as well as a costume piece Marilyn Monroe wore.
Massimo Basei is moving up, while Chief Commercial Officer Martino Pessina is stepping down.
AGTA GemFair and the Denver Gem & Mineral Show also will have a presence on the show floor.
Sold by Christie’s Hong Kong, this masterwork of complications now holds the record for most expensive watch ever auctioned online.
The watch company expects first-quarter sales to fall as much as 15 percent due to inflation and tough comps.
Adam O’Grady, general manager of the Lightbox Lab, has taken on the new role and will report directly to Lightbox CEO Antoine Borde.
The watch marketplace gathered data from 1.3 million collectors, highlighting the most popular timepieces and exploring value appreciation.
Burgundy has opted not to exercise its option to buy the mining claims Gibb River Diamonds currently owns.