Jewelry Business Articles & News

USA : House of Taylor Jewelry posts wider net loss in Q1 2006

USA : House of Taylor Jewelry posts wider net loss in Q1 2006
May 23, 2006/Fibre2fashion.com, India

House of Taylor Jewelry Inc announced financial results for the first quarter ended March 31st 2006.
The international jewelry company saw first-quarter revenue rise 29 percent to $1.4 million from $1.1 million reported in the same period a year ago, reflecting demand for the company’s branded products that were introduced late last year, as well as sales of the company’s discontinued non-branded products.

House of Taylor Jewelry posted a net loss of $2.0 million compared with a net loss of $348,000 in the year-ago period. For the three months ended March 31st 2006, the company used $523,000 for its operating activities.

“The first quarter was a milestone period for us, as we began trading on NASDAQ on March 1,” said Jack Abramov, President and CEO of House of Taylor Jewelry.

Subsequent to the close of the period, the company secured gross proceeds of $11.6 million in a private placement. Abramov said funds will be used for inventory purchases, marketing strategies, corporate partnering initiatives and general working capital.

“We are delighted that our licensor and the creative inspiration of our magnificent designs, Dame Elizabeth Taylor, was featured in the June 2006 UK issue of Conde Nast’s Vanity Fair Plus Jewellery,” Abramov said. “This truly underscores her international acclaim, her association with quality jewelry and the significant brand recognition her name affords House of Taylor Jewelry.”

Two pieces from the world renowned private collection of Elizabeth Taylor will be featured at the House of Taylor Jewelry salon during the upcoming, private Couture Jewelry Collection and Conference, May 31 - June 2, at the Wynn Hotel in Las Vegas.

House of Taylor Jewelry is a Los Angeles-based international jewelry company whose principal shareholders include entities owned by Dame Elizabeth Taylor and Kathy Ireland, along with members of the Abramov family.

Add comment May 24th, 2006

Rapaport to host fair trade jewelry conference at JCK Show

Rapaport to host fair trade jewelry conference at JCK Show
JCK, PA

The Rapaport Fair Trade Jewelry Conference will be held during the JCK Show ~ Las Vegas on June 5, 2:00-5:00 p.m., at the Delfino Ballroom in the Venetian Hotel. The conference is free and open to all members of the jewelry industry.

The purpose of the conference is to promote greater industry awareness of fair trade jewelry. Leading stakeholders within the jewelry trade will discuss the potential for the development of fair trade jewelry products and the establishment of fair trade jewelry standards. The conference goal is to raise the issue of fair trade and encourage consensus building within the industry

The conference agenda will include:
* What is Fair Trade and how can it be applied to the jewelry industry?
* What are the benefits of Fair Trade Jewelry to producers, the trade and consumers?
* How are Fair Trade Standards established and enforced?
* How can the market for Fair Trade Jewelry be developed?

“We believe that the jewelry industry is committed to improving the lives of more than one million people around the world who produce our products, yet live in abject poverty,” said Martin Rapaport, Chairman of the Fair Trade Jewelry Conference and the Rapaport Group. “As an industry we must recognize our responsibility to suppliers as well as customers by ensuring the fair treatment of everyone in the distribution system and environmentally correct sourcing of our products.”

He added that the conference is an “important opportunity for all those in the jewelry industry that wish to create jewelry that makes the world a better place. Everyone is encouraged to attend and share their views about what our industry can and should do to improve the lives of those that produce our diamonds, gems, gold and jewelry. We are responsible for what we buy.”

Add comment May 24th, 2006