SourcingNov 01, 2024
Reena Ahluwalia Donates Diamond Painting to Benefit CJAThe artwork, titled “Pristine,” was raffled off at the Canadian Jewellers Association’s recent summit.
TrendsFeb 25, 2016
Year in Review, 2014
The year began with a bang--the merger of the country’s two largest specialty jewelers--and didn’t quit.
The Pantone Color of the Year for 2014 was … “Radiant Orchid,” a vibrant purple. Though the color institute officially picked this hue in December, it was visible throughout design in 2014, with jewelry-makers picking purple gemstones and even creating diamonds in the color. Read more here.
The year began with a bang--the merger of the country’s two largest specialty jewelers--and didn’t quit.
Signet Jewelers Ltd.’s acquisition of rival Zale Corp. was just the first in a string of mergers and acquisitions witnessed this year.
In other news, the issue of diamond over-grading exploded, diamonds continued to do well at auction--as did one particular watch--and the industry said an unexpected good-bye to one legendary designer.
Click through this slide show to recap the year that was, in photos.
The Pantone Color of the Year for 2014 was … “Radiant Orchid,” a vibrant purple. Though the color institute officially picked this hue in December, it was visible throughout design in 2014, with jewelry-makers picking purple gemstones and even creating diamonds in the color. Read more here.
In February, the industry gathered in Tucson for the annual extravaganza of colored gemstone shows. Described by one attendee as “upbeat” and “promising,” many green gemstones along with a variety of tourmalines were visible this year. This tourmaline ring from Alishan is an example of both. Read more here.
The year was little more than a month old when huge news broke: Signet Jewelers Ltd., owner of Kay and Jared, was buying Zale Corp. The merger officially was approved in late May, creating a mega-chain of jewelry stores that spans two continents. The chain is led by Mark Light (right), who took over when Mike Barnes stepped down in October. Read more here.
The Baselworld Watch & Jewelry show opened in late March, with some company. The Rapaport Group held its first diamond show in the Swiss city at the same time while in nearby Freiburg, Germany, UBM Asia held its first European jewelry trade show. Read more here.
In a year ripe for mergers and acquisitions, another big deal was announced in early April. Brand management firm Xcel announced it was paying $22.5 million for Judith Ripka. Later, news emerged that KGK Jewellery Manufacturing had received the license to make and sell the brand’s jewelry on a wholesale level. The designer Ripka is pictured here with Xcel CEO Robert D’Loren. Read more here.
It’s a story that didn’t quit all year but, if one needs to pinpoint the 2014 start to it, a good month to begin would be May. WSMV in Nashville began airing reports about an issue that’s been festering for years: labs over-grading diamonds, by EGL International in particular. The report spurred lawsuits, a de-listing on RapNet and changes at EGL. Read more here.
May, of course, brought the industry’s annual flurry of Sin City-centered trade shows, including the antique jewelry show at the Paris and Couture at the Wynn Las Vegas. One of the highlights of Couture was the annual design competition, where great pieces--like this engagement ring by Finn--were lauded. Read more here.
In mid-June, the next of the year’s major acquisitions occurred. Chinese retailer Chow Tai Fook paid $150 million to buy Hearts On Fire. It gives the retailer an established brand to stock in its stores while at the same time providing Hearts On Fire with solid financial backing and an entrée into the Chinese market. Read more here.
July brought another acquisition, with private equity firm Catterton purchasing the John Hardy brand for an undisclosed sum. Former American Eagle Outfitters CEO Robert Hanson was brought in to lead the brand, which announced that same month that model Cara Delevingne was the face of its latest campaign. Former CEO Damien Dernoncourt remained on board as non-executive chairman. Read more here.
Wearable technology--devices that can monitor the wearer’s heartbeat, remind them of appointment, alert them of incoming text messages, etc.--became big in 2014. Certainly one of the year’s biggest wearable tech debuts occurred in September, when Apple unveiled its much-talked-about smartwatch. Read more here.
The fall brought a few more pieces of watch news. In October, Patek Philippe, which marked its 175th anniversary this year, unveiled the limited-edition Grandmaster Chime Ref. 5175, the Swiss brand’s most complicated and elaborate timepiece to date. The watch’s price tag is $2.6 million. Read more here.
The following month, the Henry Graves Supercomplication was offered at auction (again) and garnered $24 million at Sotheby’s Geneva. Called the “Holy Grail” of watches, it remains the most expensive watch ever sold at auction, and the most complicated timepiece made by hand. Read more here.
It was another big year for jewelry auctions. Many beautiful gemstones moved off the block, making it difficult to pick one standout for the year, though this 392.52-carat Ceylon sapphire is a strong contender. Dubbed the “Blue Belle of Asia,” it sold for more than $17 million at Christie’s and set a new world record price for a sapphire sold at auction. Read more here.
The year ended on a sad note when pioneering designer Scott Kay died of a heart attack on Dec. 4 at the age of 57. “I am really going to miss him,” reflected Henry Dunay. “I think the industry has lost someone who is really passionate and strong.” Read more here.
More on Trends
The Latest
IndependentsNov 01, 2024
Gunderson’s Jewelers Opens New Location in NebraskaThe new store features a custom design studio and a bridal salon.
CollectionsNov 01, 2024
Piece of the Week: Sydney Evan Gets ‘Wicked’Designer Rosanne Karmes has created a collection to coincide with the release of the movie musical, which is expected to be a blockbuster.
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
FinancialsOct 31, 2024
Charles & Colvard Faces Possible Nasdaq DelistingThe retailer said it will file the necessary paperwork to regain compliance as soon as it is able.
Weekly QuizOct 31, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsOct 31, 2024
Peter Smith: Nervous Flyers and Emotional SellingWhether you’re calming the jittery gentleman in seat 13B or selling a diamond ring to a hesitant customer, an empathetic approach is best.
Events & AwardsOct 31, 2024
WJA Will Celebrate 4 Award Winners at ‘Future of Forty’ GalaThe gala includes a red carpet, music from DJ Renata, an awards program, and “mystery boxes.”
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
Events & AwardsOct 31, 2024
The Instore Show Returns To Chicago AreaThe trade show, in its third year, will take place in late September at the Donald E. Stephens Convention Center in Rosemont, Illinois.
Lab-GrownOct 31, 2024
Q&A: Constance Polamalu on Selling Natural and Lab-Grown DiamondsThe jeweler shared her change of heart on lab-grown diamonds and why she keeps them separate from natural diamonds in her business ventures.
Events & AwardsOct 30, 2024
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are scheduled to take place March 14 at Cipriani 42nd Street in New York City.
MajorsOct 30, 2024
Peggy Grosz Leaves Assael After Company Is SoldGrosz had served as Assael’s senior vice president and creative director since 2017.
CollectionsOct 30, 2024
CD Peacock Honors Its Hometown of Chicago in First Bridal Collection“Love and Celebration” is the jeweler’s first in-house collection featuring engagement rings, wedding bands, and celebration rings.
SurveysOct 30, 2024
Consumer Confidence Rebounds in OctoberA more positive view of the labor market contributed to the strongest monthly gain since March 2021.
Events & AwardsOct 30, 2024
Mejuri to Award $50K in Scholarships to Jewelry Design StudentsThe funds will be distributed to schools in the U.S., Canada, and the U.K.
MajorsOct 29, 2024
Cybersecurity Expert Selected as President of Jewelers’ Security AllianceJennifer Mulvihill, the first woman to lead JSA in the organization’s 141-year history, takes over for the retiring John Kennedy.
Events & AwardsOct 29, 2024
The Can’t-Miss Events of 2024 New York City Jewelry WeekThis year’s festivities include more than 100 experiences, such as designer showcases, panel discussions, and even a treasure hunt.
AuctionsOct 29, 2024
Rolex Worn on Apollo 14 Mission Sells for More Than $2MThe GMT-Master “Pepsi” that belonged to astronaut Edgar Mitchell is one of two Apollo-flown Rolex watches ever sold at auction.
MajorsOct 29, 2024
Pandora’s Holiday Campaign, New Jewelry Celebrate Light and LoveThe ads star brand ambassadors Chloe and Halle Bailey and Pamela Anderson.
SourcingOct 29, 2024
De Beers’ Production Drops 25% as Demand Remains SluggishThe company combined two sights in Q3 due to the slowdown in demand, and said it is moving up the dates for sights 9 and 10 in Q4.
EditorsOct 28, 2024
Q&A: Monica Rich Kosann Looks Back on 20 Years The jewelry designer discussed how she got into the jewelry industry, what she keeps in her favorite locket, and the future of her brand.
MajorsOct 28, 2024
Jewelers for Children’s Halloween Costume Contest RocksParticipants can buy five votes for $5 to decide which jeweler will dress up as an ‘80s rockstar for Halloween.
MajorsOct 25, 2024
This New Bulgari Boutique Is on a YachtStarboard Luxury is bringing the Italian brand aboard The Ritz-Carlton Yacht Collection’s newest yacht.
CollectionsOct 25, 2024
Piece of the Week: A Haunting Piece of Mourning Jewelry The pendant, circa the late 1700s, likely was commissioned to remember a loved one who died young.
MajorsOct 25, 2024
Artistry Releases Its 2025 CatalogIt features the brand’s products in the precious color, semi-precious color, pearl, diamond, gold, and sterling silver categories.
EditorsOct 24, 2024
From a Witch to Wednesday: The Best Jewelry to Wear With Your Halloween CostumeFor her annual Halloween story, Associate Editor Lenore Fedow pairs fine jewelry with classic and contemporary Halloween costumes.
FinancialsOct 24, 2024
Kering’s Jewelry Brands ‘More Resilient’ Than Other Luxury Goods in Q3 Sales fell 15 percent for the luxury conglomerate in the third quarter, led by a 26 percent drop in sales for flagship brand Gucci.
