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10 Jewelry News Stories You Might Have Missed
Why LVMH called off its acquisition of Tiffany, which storied retailer will shutter all its locations and where precious metals prices are headed this year.
Last week, luxury conglomerate LVMH backed out of its deal to acquire Tiffany, and the retailer responded with a lawsuit. Read more at No. 1 below.
New York—Last week was packed with news about major retailers and miners.
At the beginning of the week, news broke that LVMH was backing out of its agreement to buy Tiffany, and the jeweler responded with a lawsuit, while storied retailer Lord & Taylor announced it would close all its locations.
Meanwhile, Sotheby’s revealed a 102-carat D flawless oval diamond it will auction off without reserve, National Jeweler dove into metal price trends beyond gold and held the first webinar in its expanded series, and miner Rio Tinto announced its CEO is stepping down.
Read on for more of the top jewelry news from last week.
1. Tiffany Sues After LVMH Looks to Call Off Acquisition
The stage is set for a protracted legal battle as the $16 billion deal seems set to dissolve.
2. Beyond Gold: Here’s What Is Happening with Metals Prices
National Jeweler looks at how platinum, silver and palladium have fared so far in 2020.
3. Amanda’s Style File: Sweet Studs
Studs are the easiest earring style to wear with a face mask, says Jewelers of America’s Amanda Gizzi.
4. Lord & Taylor to Close All Stores After 200 Years
As the department store chain prepares to liquidate, here’s a look back at its heyday and how it went bankrupt.
5. Sotheby’s Is Selling This Perfect 102-Carat Diamond with No Reserve
Online bidding for the D flawless stone starts Sept. 15, with the live in-person auction set for early October in Hong Kong.
6. Murphy Jewelers Cuts Ribbon on New Location
The new store has a Rolex corner and a bridal bar where customers can look at engagement rings over drinks.
7. IDI, AWDC to Hold Digital Trade Show on Virtual Diamond Boutique
The diamond trading event kicks off next week.
8. Rio Tinto Head Resigns Following Destruction of Sacred Indigenous Site
Jean-Sébastien Jacques is stepping down under pressure from investors after the company destroyed prehistoric caves sacred to two Australian Aboriginal groups.
9. Watch: Secrets From a Former Barneys Senior Jewelry Buyer
View National Jeweler’s “My Next Question” webinar featuring consultant and former Barneys Senior Jewelry and Watches Buyer Gurki Basra.
10. JSA Issues Warning About Rise in Grab-and-Run Thefts
There has been a surge of them in recent weeks, the Jewelers’ Security Alliance said.
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