Blue Nile’s 1Q 2008 financial results
by Jo Black
Blue Nile, Inc. reported financial results for its first quarter ended March 30, 2008.
The company posted net sales of $70.5 million, up from $67.9 million in the first quarter of 2007. Operating income for the quarter totaled $3.0 million. Net income totaled $2.6 million, or $0.16 per diluted share.
Net cash provided by operating activities totaled [...]
GIA’s historical jewelry collection
by Jo Black
The Gemological Institute of America (GIA) Museum is launching a significant new campaign to build the “GIA Historical Collection,” a comprehensive assemblage of jewelry, object d’arts and gemstones from all time periods and cultures world-wide.
Elise Misiorowski, GIA Museum director said, we intend to create a wide-ranging, world-class collection that captures the essence of each period [...]
LOVE & PRIDE commitment ceremony event
by Jo Black
On June 4, 2008, “Grey’s Anatomy” star T.R. Knight will join the Matthew Shepard Foundation to help kick off National Gay-Pride month with a symbolic dusk commitment ceremony at the famed West Hollywood hotspot, The Abbey.
At 8pm, couples from around the nation will “tie the knot” in an event officiated by the Mayor of West [...]
Zale changes auditors
by Jo Black
Zale Corporation, a leading specialty retailer of fine jewelry in North America, has engaged Ernst & Young to serve as the Company’s independent public accountants for the fiscal year ending July 31, 2008. Ernst & Young will replace KPMG.
The Company and KPMG did not have any disagreement on any matter of accounting principles or [...]
Whitehall appoints new CEO
by Jo Black
Whitehall Jewelers Holdings, Inc., a leading national specialty retailer of fine jewelry, announced today that Chairman of the Board and Chief Executive Officer Edward Dayoob will retire from his post as CEO, while remaining actively involved as the Chairman of the Board and as a consultant to the Company advising on merchandising and operations strategy. [...]
Namakwa agreement with Harry Winston
by Jo Black
Namakwa Diamonds Limited has signed a marketing agreement with Harry Winston Inc., the premier jewellery and timepiece retailer, whereby Namakwa will supply Harry Winston with polished diamonds suitable for sale through their salons worldwide and Namakwa will have the opportunity to benefit from the retail pricing of certain diamonds sourced through Namakwa. The combination of [...]
Dubai, China to promote jewellery
by Jo Black
Dubai Multi Commodities Centre (DMCC) has signed a Memorandum of Understanding (MoU) with the People’s Government of Panyu District, China, for increased cooperation towards mutual growth and the promotion of jewellery trade between both countries, with a special focus on diamonds and coloured stones. The MoU is in line with the recent visit of [...]
Gem Diamonds reports annual results
by Jo Black
2007 was Gem Diamonds first financial year as a listed company. The Company’s focus for the year was the execution of its acquisition strategy outlined at the time of its IPO as well as the development of existing assets to increase production. During the year capital raised on IPO was deployed on acquisitions in Australia, [...]
Union Diamond marks milestone
by Jo Black
Union Diamond Corporation, the leading online diamond and jewelry purveyor had recently reached a milestone and has been rewarded for its excellent customer service with a huge single sale worth a whopping $390,000 to a returning customer. With this sale, Union Diamond can now boast its first million dollar customer.
The announcement of our first [...]
FUQI International to acquire Temix
by Jo Black
FUQI International, Inc. has entered into definitive agreements for its acquisitions of Shanghai Tian Mei Jewelry Co. Ltd. and Beijing Yinzhong Tian Mei Jewelry Co. Ltd., collectively known as Temix (’Temix’), for 100% ownership of the business. The closing is contingent on a number of items, including obtaining governmental approval.
The purchase price for Temix [...]
IDI to sponsor Jovella Jewelry Exhibition
by Jo Black
For the first time this year, the IDI Group of Companies will sponsor Jovella, the international jewelry exhibition held annually in Tel Aviv, Israel. Jovella 2008, which is also being sponsored by the Israel Ministry of Industry, Trade & Labor’s Administration of Diamonds, Precious Stones & Jewelry, the Israel Jewelry Manufacturers Association and the Israel [...]
Flawless receives orders worth $10M
by Jo Black
Flawless Diamond India Ltd has informed Bombay Stock Exchange (BSE) that the Company has received Two Prestigious Order for its newly launched Designer Jewellery.
First Order received from Diambel N.V., Belgium for its AUM Signature and AUM Star Series of Designer Jewellery worth Rs 192 million ($4.9 million). Second Order received from Malay Impex, Hong [...]
Champagne to inspire jewelry designers
by Jo Black
Rio Tinto Diamonds, the world’s largest supplier of champagne diamonds has released its latest range of champagne diamond promotional materials.
Whilst champagne diamonds are not a new phenomenon, they are gaining considerable cachet with high profile jewelry designers and diamond jewelry retailers around the globe.
The new range of promotional materials is aimed at supporting the retailer, [...]
GIA expands Alumni chapters
by Jo Black
The Gemological Institute of America (GIA) Alumni Association has officially opened twelve new alumni chapters both nationally and internationally so far this year. Approximately 30 other new chapters, also from the U.S. and around the world, are planning to open by the end of 2008.
This sudden increase is due to changes implemented within the [...]
Signet reports year end results
by Jo Black
Signet Group plc, the world’s largest speciality retail jeweler, which operates leading operations in both the US and UK, provides 2007 year end results.
Terry Burman, Group Chief Executive, said that 2007/08 was a very demanding year for the Group, with a particularly difficult fourth quarter. While the US business saw an unprecedented weakening in sales [...]
Zale appoints executive VP
by Jo Black
Zale Corporation, a leading specialty retailer of fine jewelry in North America, announced that William Acevedo has been named Executive Vice President, Chief Stores Officer. Mr. Acevedo will be responsible for store operations for all of the Company’s brands and will report directly to Neal Goldberg, President and Chief Executive Officer.
I have known William for [...]
Novori named online distribution for Demeter
by Jo Black
Novori Inc. — a leading online interactive retailer of fine diamond engagement rings and jewelry — announces an agreement with Zalemark Inc., granting Novori the exclusive online distribution rights for the Zalemark celebrity-endorsed Demeter jewelry line. This women’s collection of fine jewelry features exquisitely crafted and designed pieces by award winning designer Steven Zale in [...]
IDL diamond certification to Damas
by Jo Black
Consumers wishing to purchase the best quality diamond jewelry and products, can now buy with confidence as the result of a new agreement signed between the International Diamond Laboratories (IDL) and Damas. As from this week, IDL certificates are available with diamond jewellery from any of Damas showrooms with in-house brands including Hayati, Dibla, Solitaire, [...]
IDL laboratory at Istanbul
by Jo Black
IDL will set up a fully fledged laboratory in Istanbul at the headquarters of the Istanbul Chamber of Jewelry (IKO). This was announced during the Istanbul Jewelry Show. The IDL lab will be the first of its kind in Turkey.
The IDL laboratory will be located in the headquarters of IKO in the heart of the [...]
JA announces winners of 2008 Affiliate Design Competition
by Jo Black
Jewelers of America (JA) has announced the winners of its 18th annual Affiliate Design Competition, held during the JA New York Show, March 9-11. Designers from Missouri, Oklahoma, Texas and Wisconsin took home the first place prizes in four categories (based on the cost of materials used): $1,000 and under; $1,001-$3,000; $3,001 and over; and [...]