The closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
Katy Perry’s Engagement Ring Takes a Cue from Royal Style
The pop singer opted for a traditional look to mark her engagement to Orlando Bloom, with a mega-watt center stone.

Instead, to mark her engagement to actor Orlando Bloom, the “Teenage Dream” singer showcased a style last week on Instagram more in line with that of British royalty.
Like Kate Middleton’s blue sapphire engagement ring, which previously belonged to Princess Diana, or Princess Eugenie’s padparadscha sapphire style, Perry’s bauble also features a colorful center stone.
Hers appears to be an oval-shaped pink diamond, hot pink sapphire or ruby.
The singer has yet to share details about the stunning bridal style, but WP Diamonds President Andrew Brown told E! Online that if the center stone is indeed a pink diamond (which, in our estimation, seems unlikely), the ring could be valued at around $5 million.
No matter which type of stone Bloom chose for his paramour, the ring further echoes the aforementioned royal Brits with its cluster setting; the center-stone is surrounded by a halo of eight white diamonds, all set in yellow gold that follows the shapes of the stones, resembling the petals of a flower.
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Perry isn’t the only pop star to embrace the royal style favorite; Lady Gaga’s pink sapphire engagement ring is also a cluster style, though her engagement is reportedly off.
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Controversially (according to the Internet), Bloom proposed to ex-wife Miranda Kerr with the supposedly similar cluster-style ring seen above, though Kerr’s version exclusively featured white diamonds.
Our verdict? The rings are vastly different; we say the man simply has good taste.
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