These earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Pandora Cuts Jobs, Sales Forecast for 2018
The bead and jewelry maker said it is laying off 397 workers, mostly at its manufacturing facilities in Thailand.

Copenhagen, Denmark—Pandora said Tuesday it will cut nearly 400 jobs as it looks to streamline manufacturing and shift more resources to digital and e-commerce operations.
A total of 397 of the company’s 27,000 employees, or less than 2 percent of the total workforce, will be laid off. The majority of the layoffs, 218, will be in Thailand, where its jewelry is manufactured.
Pandora said it is making the cuts to protect profitability and support the five-year strategy implemented last year. The cuts will save the company about DKK 150 million ($23.3 million).
The announcement came the day after the bead and jewelry maker reported flat second quarter sales and slashed its forecast for the year.
Pandora, which is grappling with slowing sales in key markets like the United States and China, said it now expects a revenue increase of 5-7 percent (in local currency) on the year, down from its previous prediction of 7-10 percent. It also warned that profit margin will be lower than previously forecast, 32 percent instead of 35 percent.
Also this week, the company announced the appointment of a new head for the Americas, Sid Keswani.
Keswani replaces Scott Burger, who resigned at the beginning of the year.
He joins Pandora from Fiesta Mart, a Texas-based grocery store chain. Prior to that, he spent 19 years as an executive at Target Corp. and was the senior vice president of operations for Susser Holdings, a convenience store chain.
As president of the Americas for Pandora, Keswani will oversee the bead and jewelry company’s operations in North America, the Caribbean and Latin America. The region has more than 2,300 points of sale, including more than 650 concept stores, nearly a third of which are now owned and operated by Pandora.
The region employs a total of 3,400.
Pandora said a key priority for Keswani will be to work with franchisees and Pandora-owned stores to ensure they are integrating their operations with the company’s online store, which opened in April 2015.
His appointment is effective Aug. 13.
The Latest

“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.

Kentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.

Two experts share how artificial intelligence tools can help retailers run a more efficient business.


An across-the-board tariff of 10 percent remains in place for all U.S. trading partners, except China.

The retail show is open to the public and will run July 24-27.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.

The new store in the upscale Iguatemi São Paulo mall is the storied brand’s first flagship in Brazil.

The pieces span from the Art Deco period to the 1970s and will go up for auction at the Paris Jewels sale later this month.

The Grammy-winning singer-songwriter, who is set to perform at Coachella this month, also debuted a curated selection from the brand.

GIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.

The introductions include the Land-Dweller, Rolex’s first new model since 2012, as well as several new dials for its classic timepieces.

Cowlishaw earned a degree in horology after serving in World War II, working at one of the first Zales stores in Tulsa, Oklahoma.

Bonhams will offer the “Kat Florence Lumina” at its May 22 jewelry auction.

In March 2022, the men went into a jewelry store in Beverly Hills and smashed the display cases with sledgehammers and crowbars.

The 51 unique watches from Sotheby’s three-day sale and immersive exhibition all found buyers, with the top lot selling for $229,955.

The company has acquired Australian jewelry insurance provider Jewellers Loop.

Beau Lotto’s immersive presentation will be a blend of neuroscience, art, and entertainment.

A pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.

The event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.

The charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.

The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.