Author: Ruchi Singla

The Black in Jewelry Coalition (BIJC) Collective is set to return to Las Vegas, showcasing four Black-owned jewelry brands at the JCK Las Vegas and JCK Luxury exhibitions. This marks another significant appearance by the collective, promoting diversity and representation within the jewelry industry.Participating BrandsAt JCK Las Vegas, attendees can visit Eleora Gems, Jevela, and Simone I. Smith at booth 10042. Over at JCK Luxury, Dorian Webb will be exhibiting at stand D116. While Simone I. Smith and Dorian Webb participated last year, Eleora Gems and Jevela are new additions to the collective.Brand HighlightsEleora Gems: A Zambia-based company led by CEO and…

PGI USA is set to unveil a new platinum alloy – ‘Inoveo Platinum’ – at the upcoming JCK Las Vegas show. Developed in collaboration with platinum miner Anglo American and materials designer Alloyed, Inoveo Platinum is being promoted as a significant advancement in platinum jewelry design and manufacturing.Technical Advancements and BenefitsInoveo Platinum has been engineered to combine the workability of white gold with the intrinsic properties of platinum. According to PGI USA, this new alloy offers substantial improvements in production efficiency and product quality. The alloy is claimed to have up to four times less porosity and a fourfold increase in…

The Gemological Institute of America (GIA) is set to present an extensive array of interactive displays, informative presentations, and hands-on demonstrations at the Couture and JCK Las Vegas shows. These offerings aim to immerse attendees in the world of gemology, showcasing the institute’s expertise and latest innovations.“We are thrilled to once again participate in JCK Las Vegas and Couture where we can connect with industry professionals from around the world.”. “As a trusted resource for gemological knowledge, services and expertise, GIA is committed to advancing excellence and integrity in the global gem and jewelry trade.”Susan Jacques, president and CEO of GIAGIA…

Charles & Colvard has announced a strategic alliance with the International Gemological Institute (IGI) to provide exclusive grading reports for their Forever One moissanite gemstones. This initiative aims to enhance consumer confidence by delivering standardized measures of quality and authenticity for these gemstones.“Not all moissanite is created equal,” states Don O’Connell, president and CEO of Charles & Colvard. “The new collaboration with IGI emphasizes our commitment to maintaining brand integrity in a market increasingly saturated with false information and counterfeit products.”Details of the Grading ReportsThe grading reports will assess the quality characteristics of the moissanite using the 4Cs—cut, clarity, carat, and…

Police are investigating the theft of more than $800,000 in jewelry, cash and guns from a Glendora jewelry store. Surveillance video provided by the owner of Desire Jewelry on North Glendora Avenue indicates the thieves broke in through the ceiling around 11:15 p.m. on May 15 night and worked to drill through two steel safe units for approximately six hours before finally leaving.Detailed Breakdown of the IncidentThe burglars, believed to be a group of four to five individuals, conducted a well-planned break-in. They entered the store by drilling through the roof around 11:15 p.m. They then spent approximately six hours…

Sarine Technologies Ltd has announced a return to profitability in the first quarter of 2024. The company reported a net profit of USD 0.6 million for Q1 2024, a significant turnaround from a loss of USD 2.8 million in Q4 2023. This recovery is attributed to increased revenue from new services and strategic cost-cutting measures.New Services and Market DevelopmentsMost Valuable Plan (MVP)Launched in Q1 2024, the MVP paradigm optimizes the planning of rough diamonds weighing 40 points and below, with plans to extend up to 90 points later in the year. This service has an addressable market of 33 million stones…

Jewelers of America (JA) has announced the recipients of its 2024 “20 Under 40 in Jewelry Retail” list. This annual accolade recognises young professionals who have shown leadership and innovation within the jewelry retail sector.Recognition and CriteriaThe 20 Under 40 list highlights individuals under 40 employed by JA Member retail stores. Despite varying job titles and levels of experience, the recipients share a common dedication to advancing jewelry retail. Selected by a panel of industry judges, these professionals have demonstrated the ability to lead, innovate, and enhance the success of their jewelry stores while maintaining professional ethics.2024 HonoureesThe 2024 class…

On August 10, the INSTORE Show 2024 will launch with a ‘Cram Day Conference’ at the Donald E. Stephens Convention Center in Rosemont, IL. The event, separately ticketed from the main show, will feature a headline seminar from GIA Alumni Collective on lab-grown diamonds – aiming to equip independent jewelers with a solid understanding of production, regulatory aspects, and future market outlook.Seminar Details and ObjectivesThe Cram Day seminar will offer two sessions, limited to 50 participants each, addressing the science and identification of laboratory-grown diamonds. Lisa Kennedy, a Senior Subject Specialist in Gemology at GIA, will conduct these sessions. Her presentation…

B2B diamond sourcing platform Liquid Diamonds has raised over $1.1 million to expand its services to jewelry retailers. The investment was led by the New York Angels, a group of New York-based financiers who are focused on modernizing the diamond industry.Platform EnhancementLiquid Diamonds aims to enhance the process of wholesale diamond buying by promoting price transparency and liquidity. The recent investment will enable Liquid Diamonds to expand its support to jewelry retailers by streamlining diamond purchasing and introducing mounted programs.Influential PerspectivesDonna Redel, an investor and new board member, commented on the industry’s adaptation to new technologies: “I am optimistic about the…

ALTR Created Diamonds has become the first lab-grown diamond producer to receive the prestigious SCS-007 Sustainability Rated Diamonds Certification from SCS Global Services. This certification marks a significant milestone for the company, and also for the lab-grown diamond industry, recognising ALTR’s compliance with rigorous environmental and ethical standards in its production processes.Details of the CertificationIn attaining the SCS-007 Certification Standard for Sustainability Rated Diamonds, ALTR has complied with the stringent criteria set out by SCS Standards – a robust, multi-stakeholder sustainability standard specifically designed for the diamond industry.Since its inception in 2006, ALTR has utilized 100% renewable energy in its production…

Opening on May 9, the American Museum of Natural History introduces “Ice Cold: An Exhibition of Hip-Hop Jewelry.” This exhibition not only marks the 50th anniversary of hip-hop but also showcases the profound impact of hip-hop culture on fashion and society through a display of iconic jewelry pieces worn by luminaries such as Slick Rick, A$AP Rocky, and Nicki Minaj.Cultural Significance and Historical ContextHoused in the Melissa and Keith Meister Gallery within the museum’s Allison and Roberto Mignone Halls of Gems and Minerals, “Ice Cold” is more than just an exhibition; it is a cultural narrative that traces the evolution of…

The Natural Diamond Council has formed a partnership with Diamond Standard, known for developing the only market-traded and regulator-approved diamond investment products. Together, they are launching a Retailer Affiliates Program to promote Diamond Standard’s innovative Coins and Bars, enhancing consumer access to these investable diamond products.Transforming Diamonds into Investable AssetsDiamond Standard has redefined the potential of natural diamonds, traditionally seen as luxury items, by converting them into a fungible asset class. Utilising blockchain technology, the company has standardized the valuation of diamonds, making it easier to include them in investment portfolios similar to other commodities like gold or silver. Their…

Jewelers of America (JA) has introduced the Seymour & Evelyn Holtzman Bench Scholarship, a collaborative initiative with Seymour and Evelyn Holtzman designed to support aspiring bench jewelers. This scholarship provides financial aid between $2,000 and $5,000 to students currently enrolled in accredited bench jeweler or metalsmith education programs.“Evelyn and I are thrilled to partner with Jewelers of America to offer this Bench Scholarship. Our goal is to attract new talent and support the jewelry industry by strengthening the industry’s talent pool in bench jewelry,” says Seymour Holtzman.Eligibility and Application ProcessCandidates eligible for the Holtzman Bench Scholarship must be actively pursuing…

In a deeply distressing event last November, the jewelry industry lost one of our own, Peter Arguello. The owner of Peter Arguello Fine Jewelry & Antiques in What Ridge, Colorado, Peter was tragically killed in an incident that has left his community in mourning. Recent developments have led to the arrest of Michael McCormack, adding to the earlier detention of Charles Shay, with both facing serious charges related to this heinous act.Investigation and ArrestsThe investigation revealed associations between McCormack and Shay prior to the incident. Despite initially denying any illicit involvement, McCormack’s role was eventually confirmed. A pivotal moment came when his…

The Jewelers Board of Trade (JBT) has announced new leadership appointments following its annual and board meetings on February 21, 2024, and March 20, 2024, respectively.New and Returning LeadershipBrian D. Fleming from Carla Corporation has been elected as the new Chairman of the JBT. Fleming, who previously served as Treasurer and Executive Vice President at Carla Corporation, has been part of the JBT board since 1999. His experience in the industry positions him well to lead the board.Jeffery Corey from H. E. Murdock Company Inc. and Keven Peck from Color Merchants, Inc., have been appointed as First Vice-Chairman and Second…

In a recent attempted burglary at Casa Leon Jewelers in Lake Mary, Florida, the owner’s foresight in security measures effectively prevented the loss of valuable items. The incident, which unfolded late on a Saturday night, saw the suspect, Lenell Barnes III, attempting to loot the store but leaving empty-handed due to preemptive security protocols enacted by the store owner, Rene Barrios.Incident DetailsThe burglary attempt occurred when the perpetrator, identified as Lenell Barnes III, drove his truck into the store’s glass door and entered with a sledgehammer. Surveillance video showed Barnes turning on the lights and realizing quickly that there were…

The Women’s Jewelry Association (WJA) has confirmed the appointment of Kristie Nicolosi as a new member of its International Board of Directors. Nicolosi, who brings a wealth of experience from her previous tenure on the board between 2011 and 2018, will rejoin WJA where she had roles such as Treasurer and Investment Committee Chair.Professional BackgroundKristie Nicolosi is currently the President and CEO of The Kingswood Company, renowned for being a leading provider of high-quality jewelry care products globally. Since assuming leadership in 2005, Nicolosi has steered the company to achieve significant growth, multiplying its size by sixteen times.  Nicolosi’s professional…

Platinum Guild International USA (PGI USA) is set to host its third annual COUTURE Platinum Spotlight Program where designers who traditionally work with yellow gold will venture into designing with platinum. This year, four new designers are participating along with seven alumni from previous years, all tasked with crafting pieces using platinum.New and Returning DesignersThe 2024 program welcomes new designers Mike Joseph, Renato Cipullo, Selim Mouzannar, and Single Stone. They join returning participants Beck, Harwell Godfrey, Jade Ruzzo, Retrouvaí, Sorellina, Ten Thousand Things, and Walters Faith, collectively known as the COUTURE Platinum Spotlight Alumni. Their platinum designs will be showcased from…

In a significant consumer rights case that has captured widespread attention, Rogelio Villarreal, a 27-year-old doctor from Tamaulipas, Mexico, successfully purchased a pair of rose-gold, diamond-studded earrings valued at over $14,000 for just $14 due to a pricing error on Cartier’s website. This unusual transaction has spotlighted the enforcement of consumer protection laws in Mexico and their implications for international luxury retailers.Incident DetailsThe earrings, typically priced at 237,000 Mexican pesos, were mistakenly listed for 237 pesos. Villarreal, intrigued by the drastic price difference while browsing through a social media advertisement, proceeded with the purchase. Upon realisation of the error, Cartier attempted…

Zales has initiated its 100th-anniversary celebrations with a new marketing campaign and the introduction of a custom 100-carat necklace. This milestone reflects the company’s longstanding presence in the jewelry industry, emphasising affordable and fashionable fine jewelry.New Campaign and ProductsThe newly introduced marketing campaign is designed to celebrate the brand’s 100-year journey while setting the stage for its future trajectory. It features over 100 new jewelry items, including diamond and gold chains, earrings, rings, and bracelets targeted at style-conscious consumers. The range includes pieces priced below $1,000, designed to broaden the appeal of fashionable jewelry.Homage to a Storied PastIn tribute to…

This year’s Mother’s Day is poised to witness near-record spending, with consumers in the United States projected to spend approximately $33.5 billion, according to data from the National Retail Federation (NRF) and Prosper Insights & Analytics. This anticipated expenditure ranks as the second highest recorded, slightly trailing behind last year’s peak of $35.7 billion.An estimated 84% of U.S. adults are expected to participate in the celebrations, with an average outlay of $254.04 per person on gifts and related festivities. Notably, the demographic of 35 to 44-year-olds is predicted to be the most generous, budgeting around $345.75 for the occasion.“Mother’s Day…

The Jewelers Security Alliance (JSA) released its 2023 Annual Crime Report on April 23, 2024, detailing the criminal activities that affected U.S. jewelry firms last year. This article offers a breakdown of the key statistics and their implications for the jewelry industry.Overview of Crime StatisticsIn 2023, the total dollar losses from crimes against jewelry firms in the United States were reported at $133.2 million, a slight increase of 2.9% compared to $129.4 million in 2022. However, the total number of crimes saw a significant decrease, falling to 1,621 from 2,211 in 2022, which marks a 26.7% reduction.Types of CrimesThe report…

Recently launched, JEMS Institute aims to offer independent retail jewelers a unified platform that consolidates educational resources, professional training, and comprehensive business management tools. This initiative, named Jewelers Excellence Management Solutions (JEMS), aims to streamline various aspects of jewelry retailing including sales training, marketing, and overall management.Membership ModelJEMS offers a lifetime membership, where members make a one-time payment to access all existing and future resources. This approach is designed to provide ongoing support for the diverse needs of jewelry retailers.Background of FoundersCo-founders Jim Ackerman and Paul Furse, who have a combined experience of nearly three decades in the jewelry industry, have…

The Strong and Precious Art Foundation recently held a private jewelry exhibition in Washington D.C., showcasing some of the finest example of Ukrainian jewelry. This event took place at Ukraine House, a central venue for Ukrainian cultural events, displaying six unique pieces of jewelry that represent Ukrainian craftsmanship and cultural narratives and follows an earlier showing at NYC Jewelry Week.In a statement, Marianna Falkova, Executive Director of Ukraine House, and Ruslan Falkov, Director of International and Governmental Relations at Ukraine House, said “We express our gratitude to the Strong and Precious Art Foundation and the founder, Olga Oleksenko, for showcasing these…

Signet Jewelers has reached a new fundraising record with $8.75 million raised for St. Jude Children’s Research Hospital. This amount is the highest the company has raised in a single year, contributing towards its ongoing support for the hospital’s mission against childhood cancer and other serious diseases.”I’m so proud of our team members and thankful for our customers for enabling us to make another record-breaking contribution as we hit the ground running to tackle our commitment of raising another $100 million for St. Jude,” stated Virginia C. Drosos, CEO of Signet Jewelers. “Guided by our purpose of Inspiring Love, we will…

Jewel360 has integrated a new feature into its cloud-based point-of-sale (POS) software that allows jewelry retailers to enable customers to round up their credit card payments to the nearest dollar for charitable donations. This feature is developed in collaboration with the non-profit organisation Jewelers for Children (JFC).“We’re excited to be partnering with Jewel360 to bring this integration to jewelry stores around the nation. Enabling consumers to have a direct way to donate, as they desire, is paramount to bringing more resources to the children,” states Sara Murphy, executive director at Jewelers for ChildrenModernising Charitable DonationsThe introduction of digital rounding-up reflects…

In a preliminary ruling by a Pennsylvania state court, Joyce’s Jewelry of Uniontown has been allowed to continue its lawsuit against PNC Bank and several of its employees following a significant cyberattack. The jeweller lost over $1 million due to unauthorised wire transfers, raising important questions about the security responsibilities of banks.Incident OverviewThe cyberattack occurred on May 12, 2022, involving an employee of Joyce’s Jewelry who mistakenly entered login details on a fake website posing as PNC Bank’s. These credentials were used to make 11 wire transfers over a period of 20 hours, depleting the store’s bank accounts. A total of…

The US jewelry sector has experienced an accelerated rate of closures in the first quarter of 2024, signaling continuing challenges within the industry, according to the latest figures from the Jewelers Board of Trade (JBT). This downturn has affected all areas of the industry, from retail to manufacturing, with closures primarily attributed to bankruptcies.Industry OverviewDuring the first quarter, 563 jewelry retailers ceased operations, which represents 3.1% of the nation’s 28,000 retailers. This marks an increase from the 2.2% closure rate at the beginning of the previous year, showcasing a steady rise over consecutive quarters. The total active companies in the…

The National Retail Federation (NRF) has forecasted a steadier economic environment for the remainder of the year. NRF’s Chief Economist, Jack Kleinhenz, outlined the expectations for economic and retail growth in the April issue of NRF’s Monthly Economic Review, predicting a more tempered pace in the growth of gross domestic product (GDP) and retail sales.Economic Forecast and Retail Sales GrowthAccording to NRF’s analysis, retail sales are anticipated to increase by between 2.5% and 3.5% in 2024. This projection indicates a slowdown from the sharp growth rates experienced post-pandemic but aligns closely with the 10-year average growth rate of 3.6% seen prior…

A well-known family-run jewelry store in Oakland faced a harrowing armed robbery, marking the most severe incident in its over four-decade history. Phuong Jewelry, located in the heart of Oakland’s Chinatown, was targeted by eight armed individuals in a midday heist that left the store severely depleted of its inventory.The Incident UnfoldedSurveillance footage captured the chilling moment when eight suspects shattered almost every display case in the store. Diana Trinh, aged 69, was seen taking cover and screaming for assistance as the robbery unfolded. Compounding the lack of in-store security at the time, her 76-year-old husband intervened, brandishing a firearm, which ultimately…