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TrendsFeb 07, 2016
The Year in Photos
The year began with news in the wearable tech sector, and didn’t quit.
January started off strong with news in the wearable tech sector. At the Consumer Electronics Show in Las Vegas, Richline Group, Montblanc and Swarovski all announced their entry into the category with various smart products. Read more here.
From the Apple Watch to TAG Heuer’s Connected, brands raced throughout 2015 to respond to release their own versions of a smartwatch, many of them teaming up with other brands or technology companies.
There were also some major diamond finds this year, among them the unearthing of the second-largest gem-quality diamond ever recovered, and the sale of two colored diamonds--which now share the name “Josephine”--that set new world-auction records.
The industry also saw in 2015 new advertising campaigns, brand ambassadors, e-commerce initiatives and one sly female jewelry thief that, as of press time, is still on the run.
Click through this slideshow to see the year that was, in photos.
January started off strong with news in the wearable tech sector. At the Consumer Electronics Show in Las Vegas, Richline Group, Montblanc and Swarovski all announced their entry into the category with various smart products. Read more here.
In mid-January, Tiffany & Co. announced that it planned to debut its first advertisement featuring a same-sex couple as part of its newest campaign, which the brand said takes a “truly modern look at love.” Read more here.
The month also saw Target’s announcement that it would discontinue the operations of the 133 stores it opened in Canada since expanding into the market less than two years ago, instead refocusing on growing its U.S. business. Read more here.
In an ever-increasing digital world, the beginning of February saw Antiquorum Auctioneers announce its foray into the online marketplace via a store where customers can bid on, purchase and sell rare and fine timepieces. Read more here and here.
After more than a century in business, jeweler Gary Gordon announced in early February that he would be closing his Oklahoma-based store, Samuel Gordon Jewelers, and retiring. A going-out-of-business sale began that week and the shop’s doors closed once all the merchandise was gone. Read more here.
A push to move the brand’s bridal and fashion lines into a luxury area is what executives at Frederick Goldman Inc. said they had planned for the company’s recent acquisition, brand Scott Kay, in mid-February, adding that the late designer’s daughter would work with QVC to build brand awareness. Read more here.
The first week in March saw online marketplace Etsy take its first step toward going public, filing a registration statement with the SEC Wednesday relating to a proposed initial public offering of its common stock on NASDAQ. Read more here.
On March 9, Apple finally revealed its smartwatch, noting that the Apple Watch would become fully available April 24 in the United States and a number of other countries, noting it would be sold in select specialty retailers around the world (London Jewelers and Target were among the stores to eventually carry the smartwatch) in addition to its own retail stores. Read more here.
Smartwatch news continued as the month went on, as TAG Heuer revealed at Baselworld that it was creating a Swiss-made smartwatch that would be released by the end of the year (and was, in November). Outside of the show, Breitling introduced its new Caliber B55 Connected watch, which allows for two-way communication between the chronograph and a smartphone, the final product hitting shelves in December.
Swarovski revealed its first ongoing line of fine jewelry in March, offering pieces made in sterling silver and 14-karat gold with diamond accents and ranging in retail price from $125 to $1,450. Read more here.
IIa Technologies in mid-March opened a 200,000 square-foot diamond-growing lab in Singapore, saying it would implement its commercially viable process for creating high-quality, Type IIa diamonds at the facility. Read more here.
Richemont said in March that it would be merging its online-only luxury marketplace Net-a-Porter, which sells fine jewelry along with clothes and accessories, with Yoox, a similar online platform. Read more here.
In April the Pandora U.S. e-store opened for business, offering a full range of the brand’s jewelry direct to consumers. Read more here.
With the close of April also came the close of Amazon Supply, as the e-commerce giant began to redirect consumers to its new B-to-B wholesale site, Amazon Business. Read more here.
Macy’s announced that it would launch an off-price division called Macy’s Backstage in the fall, beginning with four pilot stores in the New York City area that would carry marked-down merchandise, including jewelry. Read more here.
American Pharaoh cinched the win at the Kentucky Derby in May, and the equine’s owner, trainer and jockey all were awarded timepieces from Longines, the official watch and timekeeper of the three races that comprise the Triple Crown.
Richemont-owned brand IWC Schaffhausen responded to the trend in wearable technology with the launch of a high-tech piece that attaches to the straps of existing models and adds digital functions to its watches. Read more here.
Pandora announced in early May that it had cut 105 “unbranded” retailers in the Americas, mostly in the United States. Read more here.
That same week, the Gemological Institute of America has recalled hundreds of diamonds for reexamination because it believed the stones had undergone a temporary treatment that improves their color by as much as three grades. Read more here.
Blue Nile announced in May its plans to open a store in a New York mall where customers can try on but not buy jewelry, much like the in-store displays it set up in select Nordstrom locations last year (pictured here). Read more here.
In mid-May, Nordstrom announced that salespeople and stylists would be able to send customers texts about a product they might like--including fine jewelry--with the customer only needing to message back “buy” to purchase it. Read more here.
The end of May saw not only the commencement of the industry’s market week in Las Vegas--Couture’s 20th edition among the shows--but Reed Exhibitions’ announcement that it bought Jewelers International Showcase, which operates the three JIS shows held each year in Miami Beach. Read more here.
In early June, Helzberg Diamonds began selling lab-grown white, pink and yellow diamonds at select locations, testing the market for man-made stones. Read more here.
The International Gemological Institute Hong Kong certified what it then said was currently the world’s largest colorless synthetic diamond, a 10.02-carat square emerald-cut stone grown by New Diamond Technology. Read more here.
Also in June, the world’s largest diamond mining companies formed the Diamond Producers Association in an attempt to buoy demand for mined diamonds, though it wouldn’t be doing generic marketing on the scale that De Beers once did. Read more here.
Richland officially began mining at its Capricorn mine in Queensland, Australia in June, which is producing both traditional blue as well as yellow and green sapphires. Read more here.
Another bill designed to close the loophole that allows online retailers to avoid charging sales tax in certain states was introduced in Congress in mid-June, called the Remote Transactions Parity Act. Read more here.
Chinese e-commerce company Alibaba sold its first U.S.-based e-commerce site, 11 Main, in June due to the site failing to gain traction and facing too much competition. Read more here.
June closed out with the Supreme Court’s ruling declaring same-sex marriage legal in all 50 states, prompting Long’s Jewelers to quickly craft a newspaper advertisement showing where it stood in the issue. Read more here.
In early July, India’s top diamond exporters said no to temporarily stemming the flow of rough into the country but outlined a number of other measures the trade there would take to deal with oversupply and lagging demand worldwide. Read more here.
Also in July, Kimberley Diamonds Ltd. suspended operation of the Ellendale Diamond Mine in northwest Australia, the mine from which Tiffany & Co. sources yellow diamonds. Read more here.
Though Amazon moved 34.4 million items on “Prime Day,” July 15, the e-tailer’s global shopping event said to offer more deals than Black Friday to Prime members, the one-day sale got less than favorable feedback on social media. Read more here.
The Women’s Jewelry Association announced the winners of its 2015 Awards for Excellence live in New York in late July, and honored Gumuchian with the Corporate Award. Pictured here giving their acceptance speech at the awards are Myriam Gumuchian Schreiber, flanked by her mother Anita, left, and sister Patricia, right. Read more here.
In August, the U.S. Fish and Wildlife Service proposed new regulations that would severely restrict trade in African elephant ivory in the United States, including ivory used in jewelry. Read more here.
Danish bead and jewelry brand Pandora reported in August that it closed a total of 125 accounts in the Americas region in the second quarter, almost all of them located in the United States. Read more here.
It was a year focused on the millennial consumer, and in August Boston-based diamond brand Hearts on Fire said it would aim to change younger generations’ attitudes about diamond jewelry with its new global advertising campaign and brand platform. Read more here.
The August breach that turned a Colorado River orange had environmental groups and some lawmakers stressing the need to overhaul the 143-year-old law that governs hard-rock mining. Read more here.
At the end of August, De Beers announced its “Seize the Day” holiday marketing campaign, comprised of simple taglines and imagery to urge men to buy diamond jewelry as gifts. The ads (a mock-up is pictured) echoed past marketing materials that employed similar taglines. Read more here.
Diamond news in early September included Tiffany & Co.’s announcement that it had closed Laurelton Reign Diamonds, its diamond polishing plant in Namibia, and laid off the plant’s 157 workers. In addition, data for 2014 published recently by the Kimberley Process showed that the Russian Federation topped Botswana in diamond production.
September also was an eventful period for court decisions: a federal judge rejected Costco’s claims that the term “Tiffany” has become generic, a settlement was reached in the case of Sam’s Club selling David Yurman jewelry without authorization, and an appeals court decided to revive the EEOC suit against Sterling Jewelers, which accuses the retailer of pay and promotion discrimination against women.
Apple announced in September it had teamed up with fashion brand Hermès to bring consumers the Apple Watch Hermès, along with lower-priced Sport models of the Apple Watch with gold finishes. Read more here.
A judge ruled in September for Yelp to reveal what it knew about the identity of a reviewer who posted an allegedly libelous review about her experience at a Boston jeweler’s store. Read more here.
Scott Kay President Michael Benavente (left), who was tapped to lead the brand in May, left in September to “pursue another opportunity.” Adam Gurian was selected to head the brand as part of his role as chief commercial officer at Frederick Goldman. Read more here.
In October, Target became the latest retailer to sell the Apple Watch. Read more here.
Swiss watch brand TAG Heuer teased the upcoming launch of its smartwatch in mid-October, revealing its name and posting a photo on Twitter that offered a glimpse of the timepiece. Read more here.
Commissioned by a private client, Vacheron Constantin debuted the most complicated watch in the world in mid-October, the Ref. 57260. The one-of-a-kind, double-dial watch boasts 57 complications and more than 2,800 components. Read more here.
Also in October, the FBI activated multiple digital billboards in 10 southern states an attempt to catch a female suspect wanted in a string of jewelry store robberies. Read more here.
Victoria’s Secret unveiled its 2015 Fantasy Bra in early November. Called “Fireworks”, it is studded with more than 6,500 gemstones and was worn by model Lily Aldridge during the brand’s annual fashion show in December. Read more here.
TAG Heuer unveiled its “Connected” smartwatch in New York this November, a 46 mm titanium watch that will be sold online, at the brand’s boutiques and in select retail stores. Read more here.
A 12.03-carat fancy vivid blue diamond sold for $48.5 million in November at Sotheby’s Geneva, setting a record price for any jewel at auction. The Hong Kong billionaire who bought the gem renamed it the “Blue Moon of Josephine.” Read more here.
November also was marked by the discovery of a 1,111-carat diamond in Botswana, the second-largest gem-quality diamond ever recovered and the biggest find in more than a century. Read more here.
In early December, De Beers inked an agreement with two companies paying $7.2 million to buy its Kimberley Mines, a site where diamond production has been taking place since the 1870s. Read more here.
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