America Jewelry News
USA: Unprecedented Diamond Trade-Up Offer to Benefit Consumers
By Rajesh Kumar, Section America Jewelry News
Posted on Sun Aug 31, 2008 at 01:22:24 AM EST
Hadar Company , worldwide supplier of Russian Brilliants® simulated diamonds, synthetic stones and moissanite, is pleased to announce the launch of an unparalleled upgrade opportunity. Current owners of Russian Brilliants® diamond simulants can now upgrade to a natural diamond and be credited the initial purchase price in full. Hadar is offering other diamond owners an opportunity to upgrade their current diamond to a larger diamond.
Hadar president and CEO, Gerry Hauser, says, "Russian Brilliants® have been the right choice for many people. Being hand cut, faceted and polished like a natural diamond, they do look natural. But, we have found some clients still crave natural diamonds. To make this wish come true, Hadar, through its sister company Hadar Diamonds, is now offering an extraordinary opportunity to trade in Russian Brilliants® diamond simulants for a natural diamond at a surprisingly low cost."
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Whitehall Jewelers to Hold Liquidation Sale
By Rajesh Kumar, Section America Jewelry News
Posted on Wed Aug 13, 2008 at 04:12:02 AM EST
National retail liquidation and asset recovery firms will manage a court-ordered bankruptcy liquidation sale of Whitehall Jewelers Holdings, Inc., which operates 373 specialty jewelry retail stores. The sale, which will begin Wednesday, was ordered by the bankruptcy court as a result of Whitehall's Chapter 11 filing in June.
The firms who will manage the liquidation are: Hudson Capital Partners, LLC; Great American Group, LLC; Silverman Jeweler Consultants, Inc.; and Gordon Brothers Group, LLC. The announcement was made in a joint statement by the liquidation firms Tuesday.
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Cindy McCain and Michelle Obama: Different styles, similar jewelry
By Rajesh Kumar, Section America Jewelry News
Posted on Thu Jul 31, 2008 at 03:34:27 AM EST
Cindy McCain prefers bright colors and matching jackets while Michelle Obama dresses with more flair and drama, but both have similar taste in jewelry, according to an article in The Canadian Press.
Stylist Mary Alice Stephenson said the potential first ladies are channeling former first lady Jackie O. by wearing pearls that have ranged from large white to earth-tone South Sea and multi-colored.
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Whitehall Settles Discrimination Lawsuit
By Blue Topaz, Section America Jewelry News
Posted on Tue Jul 15, 2008 at 08:05:35 PM EST
Whitehall Jewelers and attorneys representing Shereen Attia said they've agreed to resolve an employee discrimination lawsuit from a year ago. The terms of the deal were not disclosed.
American born Attia of Fairfield, Calif., who is of Egyptian and Italian descent, alleged that she was told she would not be hired as a sales associate at Whitehall Jewelers in the Solano Mall because she had begun wearing a religious head scarf.
The San Francisco-based Asian Law Caucus filed a suit against the retailer jeweler on her behalf just over a year ago. She is also represented by the law office of Minami Tamaki.
Under the terms of the agreement, Attia dismissed her claims against Whitehall while the chain jeweler denies any and all wrongdoing.
"The company is a strong advocate of diversity in the workplace and will continue its strong practices and policies against all forms of discrimination," said Michael Don, Whitehall president.
"Everyone should have the right to equal employment, regardless of race or religion, or the political climate we live in," added Shirin Sinnar, ALC staff attorney.
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USA : Highest-total ever for jewelry sale at Sotheby's New York
By Unregistered Visitors, Section America Jewelry News
Posted on Sun Dec 09, 2007 at 09:27:24 PM EST
Applause filled Sotheby's salesroom as the hammer fell on the final session of the auction of Magnificent Jewels, which achieved an outstanding total of $49,827,926, the highest-total ever for a Jewelry sale at Sotheby's New York (est. $28.2/37.4 million).
Determined bidders on the phone and in the room competed for the many historic and extraordinary jewels, remarkable for their rarity, quality, design and provenance, driving nearly 80% of the sold lots above their high estimate, with eight lots selling for more than $1 million, with three lots selling for more than $3 million.
Highlighting the sale was a spectacular Pair of Diamond Pendant-Earrings by Harry Winston, the cover lot of today's auction catalogue, which soared past their high estimate of $2 million to sell for $3,961,000. The offering of Natural Pearls from the Collection of Kelly and Calvin Klein brought $4,820,000, above the high estimate of 3.1 million, with the Single-Strand Natural Pearl and Diamond Jewelry sale at Sotheby's New York was $33,486,641 achieved in October 1994 Necklace, Cartier, Paris, alone selling for a remarkable $3,625,000. Leading off this evening's session was the FDR Victory Clock, which exceeded its high estimate of $1 million, to sell to an American Private Collector for $1,609,000, a record for a Cartier clock at auction.
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Black Friday weekend traffic up 4.8% but spending down 3.5%
By Rajesh Kumar, Section America Jewelry News
Posted on Tue Nov 27, 2007 at 02:52:56 AM EST
If there were any doubts that US consumers would be shopping in full force over Black Friday, they have finally been put to rest. According to the National Retail Federation's (NRF) 2007 Black Friday Weekend Survey, conducted by BIGresearch, more than 147 million shoppers hit the stores on Black Friday weekend, up a solid 4.8 percent from last year.
Black Friday, which follows Thanksgiving, officially starts the Christmas shopping season in the US.
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Rosy holiday sales forecast for luxury retailers in the US
By Blue Topaz, Section America Jewelry News
Posted on Fri Nov 16, 2007 at 08:17:16 PM EST
Despite general concerns about the weak US housing market and credit crunch, luxury retailers in the US are expected to do well over the coming holiday sales season.
"Luxury retailers once again appear to be a bright spot as their customers have demonstrated the ability to maintain high levels of spending," said the National Retail Federation (NRF), the world's largest retail trade association.
It added that it is clearly the retailers catering to the low- to middle-income consumer that would be most affected by economic concerns. "This could spell trouble for discounters and some department stores whose shoppers may be looking to trade down," it said.
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Fatal Stabbing in Jewelry Store
By Rajesh Kumar, Section America Jewelry News
Posted on Fri Nov 09, 2007 at 09:11:07 PM EST
New York City police say a woman has been stabbed to death at a jewelry store on Manhattan's Upper East Side, Newsday reports. Her body was found early Friday morning after her worried family reported her missing. Investigators have no suspects.
Police haven't released the name of the 52-year-old victim, who was slashed in the torso, the newspaper reports. Officers found her just before 4 a.m. at the shop, on East 65th St. near Madison Avenue. She was pronounced dead at the scene.
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Sotheby's 3Q Revenues Up 48%
By Rajesh Kumar, Section America Jewelry News
Posted on Fri Nov 09, 2007 at 09:10:04 PM EST
Sotheby's auction house on Friday reported operating revenues of $85.1 million for the third quarter ended Sept. 30--a $27.7 million, or 48 percent, increase from the prior period, primarily due to higher auction commission revenues and private sales commissions.
For the quarter, loss from continuing operations was $20.9 million compared to $30.4 million for the prior period--a 31 percent, improvement.
Despite the favorable results for the quarter, the company said it incurred $14.6 million in losses on certain auction guarantees in this week's Impressionist and Modern Art sale.
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Alarama Purchased by Berkshire Hathaway
By Rajesh Kumar, Section America Jewelry News
Posted on Wed Nov 07, 2007 at 11:17:22 PM EST
Jewelry manufacturer Alarama was recently purchased by The Richline Group, the new company controlled by famed billionaire investor Warren Buffett's holding company Berkshire Hathaway.
Richline purchased Bel Oro and Aurafin in a transaction earlier this year.
Jeff Adwar will continue to head the Long Island City, N.Y.-based company. He will also continue to head ALA Castings and Overnight Mountings, which will run independently and are not part of this deal, he said.
"Alarama is our first diversification into the gemstone and wedding band category," said Dennis Ulrich, CEO of Richline Group. "It brings us into a new field with a good company with good management."
He said that, while many of the corporate functions under the Richline Group will be managed by Richline, sales and merchandising will remain with the individual companies.
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