Archive for December, 2006
Zasha Jewelry Line Launches Just In Time For The Holidays
Emediawire (press release), WA
This holiday season, look out for the extra sparkle in town! Check out Zasha Signature Jewelry, the new jewelry line for stylish and sophisticated women who love to change their look at least as often as they change their shoes.
Los Angeles, CA (PRWeb) December 21, 2006 — This holiday season, look out for the extra sparkle in town! Check out Zasha Signature Jewelry, the new jewelry line for stylish and sophisticated women who love to change their look at least as often as they change their shoes.
Zasha pieces are comprised of 14K white and yellow gold with diamonds and semi-precious stones. The signature jewelry includes completely interchangeable complimentary pieces: hoops and charms, necklaces, rings and bracelets.
Zasha jewelry is as flexible as today’s woman needs to be. With the hoop and charm concept, once she owns a set of hoops, she can create limitless looks by adding, combining and stacking charms, and will continue to add style and value to her wardrobe. The hoops can be worn alone or with any of the interchangeable charms - add a simple charm for day or office, and a dramatic charm for a night on the town!
The line is reflective of it founders who are well established in jewelry design, sourcing, manufacturing, and operations, distribution, retail and Internet operations. The team includes Isaac Savion, formerly of Charrriol Jewelry and Watches, Frances Gadbois and Jude Steele of JudeFrances Jewelry, and Deanna Steele.
Savion, C.E.O., is a 15-year jewelry industry veteran who drove the design, sourcing and manufacturing for Charriol. Frances, with her dedication to design and quality, Jude, a PR and marketing whiz, and Isaac were ready to take the style and function of a new designer brand to the Internet. Deanna’s 15 years of retail and Internet operations experience - and her love for fine jewelry - was the final ingredient the team needed. Their combined backgrounds accelerated the quick brand launch.
And…the Steele last name is not coincidence, Jude and Deanna have unique partnership of their own. Respectively, as a Mom and Step Mom, the flexibility of their jewelry line reflects what they do on a daily basis, balancing work, kids, and alternating schedules!
To check out the latest Zasha styles and - of course, shop for great jewelry, visit www.zasha.com.
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December 22nd, 2006
USA : India based jewelry maker buys out Samuels Jewelers
December 21, 2006
Fibre2fashion.com, India
Gitanjali Gems Ltd announced that it has acquired a majority ownership interest in Samuels Jewelers Inc from funds managed by DDJ Capital Management (DDJ). Terms of the transaction have not been disclosed.
Samuels operates 97 retail jewelry stores in 18 states throughout the United States. The company will remain headquartered in Austin, Texas.
Gitanjali CFO, G.K. Nair, stated, “This acquisition is consistent with Gitanjali’s objective to conform to a vertically integrated model, one that benefits from all the efficiencies that are realized through control of the entire supply chain, inclusive of retail. To that end, Samuels is an ideal match to complement Gitanjali’s strengths in manufacturing diamonds and jewelry products.â€,
Mehul Choksi, Gitanjali’s Chairman, added that, “Gitanjali is always seeking business opportunities which are consistent with its philosophy of adding incremental value at every level of the supply chain, thus ensuring greater shareholder value and bottom line profits.”
“Gitanjali’s 11.5 million square foot Hyderabad Special Economic Zone will provide a tremendous support system for product development and jewelry manufacturing and will offer unparalleled economic benefits to Gitanjali’s customers worldwide, including Samuels.â€
Nehal Modi, CEO of Gitanjali’s U.S. affiliated companies, Diamlink and JMC, commented that “the industry is prime for consolidation and we viewed this opportunity with Samuels’ stores and management team as an ideal compliment to our ongoing operations in the U.S. By combining Gitanjali’s extensive industry resources with Samuels’ rich network of retail stores, this transaction represents an exciting and unique endeavor for all those associated with Gitanjali and Samuels.â€
Samuels’ President and CEO, Randy McCullough commented, “Samuels is excited to have Gitanjali as a majority shareholder and vendor partner. We look forward to working with Gitanjali and see this transaction as a tremendous opportunity for expanded market share and future growth.â€
Financo, Inc. served as financial advisor and Greenberg Traurig, LLP as legal advisor to Samuels. Keynote and Virtus Global Partners served as financial advisors, Klestadt & Winters, LLP as legal advisors, and Marks, Paneth and Shron LLP as accountants to Gitanjali.
In connection with the stock purchase transaction, Samuels has obtained a financing facility from Wells Fargo Retail Finance, LLC. Samuels anticipates that the $60 million facility will be more than sufficient to meet its cash flow needs for the foreseeable future.
Samuels Jewelers Inc
December 21st, 2006
GLOBAL JEWELRY INDUSTRY HAS POTENTIAL TO GROW TO US$280 BILLION BY 2015
Tacy, Israel
Global jewelry sales will grow at 4.6 percent year-on-year to touch US$185 billion in 2010 and US$230 billion in 2015, says a report released by the Gem & Jewellery Export Promotion Council (GJEPC) and professional services firm KPMG. However, finds “The Global Gems and Jewellery: Vision 2015: Transforming for Growth†report, the industry has the potential to grow beyond US$230 billion. The study estimates the range of impact to be around US$50 billion, taking the industry size to US$280 billion by 2015. In such a situation, the industry would be growing at a Compounded Annual Growth Rate (CAGR) of 6.7 percent, an increment of 2.1 percent over the realistic case.
At this rate, the industry would be growing faster than the Gross Domestic Product (GDP) per capita and would be claiming a share of the market from other luxury goods. Diamond and plain gold jewelry (product segments) and India and China (markets) will contribute the bulk of this incremental growth. This additional growth will also have a salutary impact on other parameters of industry health – inventory levels (will decrease from 19 percent to 7.5 percent), value addition will increase in the intermediate stages of the value chain (for example, in polishing from 29 percent to 34 percent).
The size of the global gems and jewelry industry is estimated at US$146 billion at retail prices in 2005, and has grown at an average CAGR of 5.2 percent since 2000.
Sales of jewelry are concentrated in eight key world markets, which corner more than three fourth of world sales. The U.S. is the world’s largest market for jewelry and accounted for an estimated 31 percent of world jewelry sales in 2005. India and China are the emerging centers of jewelry consumption and have steadily increased their share of the pie to 8.3 percent and 8.9 percent, respectively in 2005. India and China together will emerge as a market equivalent to U.S. market by 2015, says the GJEPC.
The report found that the structure of the diamond-processing industry will change considerably and India’s share of the processing pie will drop from 57 percent today to around 49 percent in value terms by 2015.
China will emerge as a strong player with 21.3 percent of the diamond processing share. By 2015, around nine percent of the world’s diamonds, in volume terms, will be processed locally by mining countries, with Angola, Namibia, and Botswana emerging as profitable CPD centers in Africa.
Fragmentation of supply sources and slow diamond jewelry growth will make the rough diamond industry more demand sensitive. The rough diamond industry has seen trends such as increased fragmentation of rough diamond supply, emergence of new mines, local beneficiation movement in mining countries and a bull-run in precious metal prices. Jewellery fabrication has been affected by accelerating fashion cycles, relative factor costs between manufacturing and consuming nations, and volatile metal prices have fuelled a drive towards moving fabrication to low cost countries.
Value addition at the two ends of the value chain is the highest, with intermediate segments adding relatively lower value (29 percent in diamond cutting and polishing and 32 percent in jewelry manufacturing).
The report found eight key scenarios that are likely to impact the industry:
• Mining countries encourage local beneficiation and capture a share of the polishing industry.
• Supply sources get fragmented and rough supply increases.
• Consolidation occurs across the jewelry value chain.
• Existing centers of the industry lose out in favor of new ones.
• Substitutes such as synthetic diamonds and non-precious metals capture a share of the precious jewelry market.
• Demand for plain gold jewelry declines.
• Large emerging retail markets such as China and India organize and consolidate.
• Jewellery loses out to competing luxury goods.
“On this occasion, I congratulate and thank KPMG and all those dignitaries for their immense contribution in building this report. The report has thrown lot of challenges and time has come when every individual player in this Industry will have to work efficiently and professionally for taking this industry to the next level. I urge the entire Industry and trade organizations world wide such as World Federation of Diamond Bourses, International Diamond Manufacturers Association, Jewelers of America etc to play a pivotal role as facilitators and work in synergy for betterment of this Industry,†says Sanjay Kothari, Chairman of the GJPEC.
“Transformation is necessary for growth. The industry has the potential to successfully compete against the luxury goods industry and preserve its traditional domination of the consumer’s discretionary spend. The industry needs to defend jewelry as a category and explore newer markets, while professionalizing family businesses,†adds Neelesh Hundekari, Director of Advisory Services at KPMG India.
The report found that palladium is expected to establish itself as an alternative metal for jewelry fabrication, while gold and diamond jewelry will continue to dominate the market together, accounting for about 82 percent. Diamond jewelry will be the slowest growing segment at a CAGR of 3.3 percent. Growth in the industry will be slow as compared to that expected in other luxury goods categories such as watches, perfumes, etc. For example, luxury apparel, a US$100 billion market today, is expected to grow at 10-15 percent over the next seven years.
To realize its potential by 2015, the industry would have to focus on the growing demand for jewelry as a category and strengthen industry-level and enterprise level capabilities. These programs need to be initiated within the next 12-18 months for its benefits to be realized over the next 10 years.
The Way Forward
To date, the industry has survived due to the intrinsic attraction of its product, the sporadic marketing push by some incumbents, and the entrepreneurial skills of individuals. However, the threat posed by luxury goods, changing consumer habits, industry’s opaque and transactional mode of operation, and various socioeconomic and political forces are fast changing the environment the industry operates in. It is evident that the survival of the industry (and of individual players) is dependent on their successful reinvention of the category, substantial infusion of capital and talent, and adaptability to change.
The report suggests the following action programs for the industry:
Develop demand for jewelry as a category - promote jewelry as a category instead of distinct metals and stones and identify new product and consumer segments.
Manage the portfolio of markets - re-establish value proposition in developed markets, maximize potential of emerging markets, and identify markets of the future.
Strengthen industry-level capabilities
Enhance image of the industry in the eyes of governments, regulators and consumers by publishing information, promoting transparency in business, professionalizing and transforming family-owned businesses, attracting talent from luxury goods industries, reducing the cost of financing with players to select strategic position and enhance individual capabilities.
Compete on one of the four strategic positions:
o Big brother (presence across the value chain);
o Volume player (large scale operations in a single segment);
o Specialist (possession of skills);
o Straddler (presence in adjacent segments);
Critical capabilities for segments: mining, sourcing and processing, and jewelry fabrication.
December 20th, 2006
Jewelry Gift Etiquette
Jewelry Weblog, CA
Jewelry is one of the top gift categories during this holiday season. I pretty much expect of find at least one small box under my tree or in my stocking, even though my husband constantly jokes about how I couldn’t possible need any jewelry since I already have so much.
But when is it not okay and is it ever not okay to give jewelry as a gift?
According to this article, “Monday Manners: Giving the Gift of Giving,” it may not always be the right gift depending on the situation:
Friends can buy each other jewelry. Family members can buy each other jewelry. But you need to be really, really careful before you buy jewelry for your significant other. Fun, trendy jewelry is one thing, but I’m talking “fine” jewelry: gemstones, precious metals. Diamonds. Do not get your new girlfriend diamonds. Any gift of jewelry is seen as a sign of serious commitment. It’s an investment. Not just in the gift, but in the future: you don’t want that girl to flush your three months’ salary down the toilet if things don’t end well.
I think if you are already counting on someone flushing your diamonds down the john, then obviously, don’t buy them something like that. However, I don’t think you need to be ready to walk down the isle either.
What do you think? Are diamonds taboo if you aren’t super serious?
December 19th, 2006
Luxury jewelry turns to creative marketing techniques
BY ELAINE WALKER
ewalker@MiamiHerald.com
Allison Weiss Brady has the type of friends that luxury jewelers want to meet.
Miami Herald, FL
The Miami Beach philanthropist and socialite agreed to play hostess during Art Basel for a party at Samuel Getz Private Jewelers designed as a fundraiser for Russell Simmons’ Rush Philanthropic Arts Foundation. But for Samuel Getz, it was also an introduction to potential clients.
The largely female crowd of about 75 people sipped Chardonnay and munched on crab cakes and baked brie from The Palm restaurant. At the same time they got to touch and play with jewelry by Getz and the Italian jeweler Vhernier.
”Sometimes when jewelry is behind a glass case, it’s intimidating and unapproachable,” said Brady, 35. “Here they’ll let you wear a $5,000 bracelet or a $20,000 necklace. It’s really a great chance to show jewelry on everyday people.”
While Brady is already a customer, she was happy to introduce Getz to her friends. She’s done the same thing for Van Cleef & Arpels in Bal Harbour, who threw her an engagement party earlier this year. And Brady has talked about doing an event with Harry Winston.
PERSONAL TOUCH
Giving potential or existing customers the opportunity to try on sparkly baubles or designer watches is just one reason that upscale jewelers in South Florida and across the country are increasingly using special events as a key marketing tool.
Jewelers have learned that to reach this key consumer, it’s just as much about sponsoring prominent charity events, cross-marketing with other luxury brands and hosting intimate parties to court potential new customers or thank existing ones.
This consumer has plenty of money and is willing to spend it. Sales of jewelry and watches are expected to reach $62.6 billion for 2006, marking a 6.3 percent increase over last year, according to forecasts from the Bureau of Economic Analysis.
”If I’m spending $300,000, the least you can do is make [me] and my friends feel special,” said Milton Pedraza, chief executive of the Luxury Institute, a research firm. “There’s no question the wealthy consumer expects more. It just won’t do to have a typical experience anymore. In the end they’re collecting stories they can tell around the boardroom or the benefit parties.”
FREQUENT CELEBRATIONS
Levinson Jewelers regularly hosts small dinners with key luxury watch brands at restaurants like Capital Grille and China Grill. Last month, the Plantation jeweler hosted a dinner party at Porta Vita Grande Club in Aventura that showcased products by Bulgari and an appearance by the jeweler’s spokesman, former Miami Dolphin quarterback Dan Marino.
Although they do sell products during the event, that’s not the focus.
”We found that taking our customers out and providing them with great parties is a way of thanking them,” said Robin Levinson, who owns the store with her husband, Mark. “It creates good will, and good will builds over time.”
Getz’ salon is built perfectly to handle the small group gatherings because it’s outfitted like a living room complete with a dining room table, bar and comfortable couches. Getz and his wife, Jennifer, entertain visitors like it was their house. They auction off caviar parties or wine tastings in the salon at charity events and host seminars with investment bankers or money managers.
These events provide a reason for people to find Getz, whose nontraditional environment is hidden in an office building at the Village of Merrick Park in Coral Gables.
”We have to work hard to get people to come here because they don’t stroll by or drive by,” said Getz, who previously ran Mayors Jewelers, a business that had been in his family until it was sold in 1998. “Because they have to make a special effort, at first it seems intimidating.”
NEW APPROACH
In today’s market where competition is keen and consumers are increasingly savvy, jewelers say traditional mass media as the primary means of marketing is no longer enough.
”Consumers today want to be wined and dined and taken care of,” said Ed Dikes, the owner of Weston Jewelers. “It’s about establishing a relationship with a client. Luxury jewelry is an item people don’t have to have. You have to create a demand for it.”
Another way to create that demand is by having unique products that can’t be found anywhere else. Getz accomplishes that because many of his pieces are his own designs. For the other local jewelers, the key is landing exclusive local rights to a key brand or finding ways to have items customized by the manufacturer.
That’s the reason Mayors Jewelers last year launched the Amorique diamond, a diamond with a unique star cut to create more brilliance. The Amorique diamonds, which are the company’s top seller, are now available in rings, earrings and a pendant.
”It’s brought in a lot of new clients who are shopping for something that is different,” said Daisy Chin-Lor, executive vice president for parent company Birks & Mayors, which has 24 stores in Florida.
TURNING TO THE NET
Finding ways to drive new business into the store is why Dikes recently launched a jewelry blog at www.weston jewelers.blogspot.com. It’s designed to remove the intimidation factor and help answer customers’ questions about jewelry and watches.
Dikes has also created a partnership with Rick Case’s Luxe Collection in Weston. Car buyers get a certificate for a free watch winder, a $395 item that can be collected on a visit to Weston Jewelers.
”The same type of client is buying luxury cars and jewelry,” Dikes said. “This gets them to come see our store and maybe they’ll make another purchase.”
Getz has a similar cross-marketing arrangement with Marquis Jet, where anyone who buys a private jet time share gets a $5,000 gift certificate to Samuel Getz.
Levinson Jewelers agreed earlier this year to sponsor the Levinson Jewelers Intermezzo Lounge at the Broward Center for the Performing Arts, a place where up to 50 patrons can go before the show for cocktails and hors d’oeuvre for an additional fee.
The Plantation jeweler also relies on the connections of its customers like Sylvia and Jack Goldenthal, who offered to host the Porta Vita event last month with a group of about 70 friends and neighbors.
”I’m the type of person that when I find something that I think is fantastic, I like to share it with other people who I think would appreciate it,” Sylvia Goldenthal said.
December 18th, 2006
International Jewelry Designer Kerstin Belz Launches New ‘Liquid’ Line
Newswire Today (press release), UK
Internationally renowned jewelry designer Kerstin Belz has launched her new line “Liquid” by Gabrielxxo, the new e-commerce company (Gabrielxxo.com) she’s formed to combine jewelry, art and fashion. “I’ve always wanted to start a company which celebrates the influence of art, fashion and jewelry on our culture,” Belz stated. “My inspiration for the line originated with the force and cleansing nature of water, one of the five Chinese elements, and my time spent on some of the world’s most beautiful beaches. I came up with designs that tangibly reflect those experiences,” she concluded.
For instance, the Faro pendant is homage to Portugal, the Atiu choker is an impression from the Cook Islands and Tanna bracelet speaks of Vanuatu. The stunning “Liquid Collection” embodies sensuous, free forms captured in brilliant, nickel free, Rhodium infused, PR925 Sterling Silver. Combined with Tahitian black pearls, sparkling diamonds with G color and VS clarity, and delicate leather cording, the line has an organic and elegant feel. “Liquid” is comprised of 35 individual pieces ranging in price from $95 to $2900. As with all Ms. Belz’s past lines, the “Liquid Collection” combines inspired design, meticulous craftsmanship and superior materials in an uncomplicated and essential way. In essence, it is highly accessible, free-form sculpture translated into beautiful, yet affordable luxury jewelry.
Berlin born, Kerstin’s childhood was split between Germany and the Cote d’Ivoire in West Africa. She has lived and worked throughout West Africa (Cote d’Ivoire, Gabon, Senegal), North Africa (Morocco, Tunisia), Australasia (Thailand, Australia, and Tahiti) and Europe (France, Switzerland). After launching a black pearl jewelry line in Australia in 1998, she moved to Tahiti as a consultant for the legendary Robert Wan — the industry’s most important grower, trader and black pearl jeweler. From there, she relocated to Los Angeles in 2001 as Vice President for Niessing, the prestigious German jewelry firm.
“Liquid” will also be available in select stores worldwide, see website for details. We can look forward to “Liquid” being followed up by “Earth,” “Air,” “Fire,” and “The Fifth Element” rounding out the five aforementioned Chinese elements. Her aspiration is to create an e-commerce community on the site that will be a launch pad for artists, designers and photographers with her jewelry as the inspiration.
Agency / Source: Design Dog
Availability: All Regions (Including Int’l)
Distribution: [+] Press Release & Newswire Distribution Network. via PRZOOM - Newswire Today (NewswireToday.com)
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December 15th, 2006
Lead and Children’s Jewelry
Jewelry Weblog, CA
We seem to read almost daily about dangerous amounts of lead being discovered in children’s jewelry. My best advice it just don’t buy that crap you see in the gum ball machine or dollar store - period. You just really never know what it is made out of.
If you want your children to wear jewelry, get them a few good piece and allow them to wear it when you are around
However, it is still nice to hear that The Consumer Product Safety Commission has come up with a plan to help parents with this issue:
The Consumer Product Safety Commission voted Monday to limit the amount of lead allowed in children’s jewelry to cut the risk of poisoning.
The action follows 14 recalls since 2004 of about 160 million necklaces, rings and bracelets with dangerously high levels of lead. More lead jewelry recalls are expected within weeks.
The commission is most concerned about children’s jewelry because kids are the most likely to put jewelry in their mouths.
A 4-year-old Minneapolis boy died of lead poisoning earlier this year after he swallowed a bracelet charm. The charm bracelets, sold with women’s Reebok sneakers, were later recalled.
“We’ve seen so much of this jewelry entering commerce, we felt we needed to take strong action,” acting CPSC Chairman Nancy Nord says.
CPSC researchers say that from 2000 to 2005, 20,000 children under 18 were treated in emergency rooms after swallowing jewelry of all types. Exposure to lead can cause problems including neurological damage, delayed mental and physical development and hearing loss.
The Sierra Club petitioned the CPSC to issue mandatory rules on lead jewelry. Jessica Frohman, chair of the Sierra Club’s National Toxics Committee, says the group is pleased with the move to limit lead to 0.06% by weight, which is the limit in California law.
“We’re going to go with current science,” Frohman says. The group will take the issue up again, “if we learn children can be harmed when lead is ingested in that quantity.”
Until the mandatory rules take effect, jewelry will continue to be covered by voluntary rules that include tests of how much lead a child could potentially come in contact with. Some jewelry pieces have coatings that reduce the risk that lead could seep through.
The new rules will eliminate that test and simply prohibit the sale of any jewelry with lead over the limit.
December 14th, 2006
CPSC Votes to Ban Lead In Kids’ Jewelry
WCCO, MN
(WCCO) The Consumer Product Safety Commission has begun the process of banning lead in kids jewelry. This is the latest development to a story the I-TEAM first broke in May 2004.
The Consumer Product Safety Commission has only banned a handful of items in its history — lawn darts, dive sticks, lead in candlewicks, lead in paint.
This ban would allow the CPSC to punish companies that make and sell jewelry that contains more than .06-percent lead, the amount allowable in paint. Two and a half years ago the I-TEAM found dangerous levels of lead in 80-percent of the jewelry we tested.
Since then more than 160 million necklaces, rings and bracelets have been pulled from store shelves, including the item blamed for the death of 4-year-old Jarnell Brown from Minneapolis.
Since Jarnell’s death, health officials found two kids from Chicago with high levels of lead. It is believed those children did something a lot of kids do: they put the jewelry in their mouths.
When Will The Ban Take Effect?
The CPSC says it could take a year before these new rules are in place. The agency must define “children’s jewelry” and figure out the punishment for companies that continue to sell jewelry with high levels of lead.
The Fashion Jewelry Trade Association points to other items that contain lead like Christmas lights. You may have already noticed the warnings on your lights, which are due to California law requiring items with lead to be labeled.
That law didn’t keep jewelry with lead from being sold in California. So state leaders say a federal ban is clearly needed to ensure the products we all buy for our kids are safe.
(© MMVI, CBS Broadcasting Inc. All Rights Reserved.)
December 13th, 2006
Rosy Blue, the world’s largest diamond manufacturer launches branded jewelry in the GCC region
AME Info (press release), United Arab Emirates
Extending its expertise and know-how of the 4 C’s - cut, clarity, colour, and carat weight, Rosy Blue, one of the world’s largest diamond manufacturer has now ventured into the branded diamond jewelry market segment and has rolled out an array of eye-catching collection for the GCC region.
Headquartered in Antwerp, Belgium, Rosy Blue has been a leading supplier of polished diamonds to jewelry manufacturers since 1960.
Starting its UAE operations in 1999, Rosy Blue has seen an upward trend in the region’s demand for diamonds in recent years, making the UAE one of the largest trading centers for rough diamonds, and the GCC region the third largest consumer of diamond jewelry in the world. According to the Dubai Chamber of Commerce and Industry (DCCI), in 2005, the value for trade in diamonds was Dhs 25.2 billion - an increase of 72 per cent from the year before.
‘Today, under the vision and leadership of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, the diamond trade industry in UAE has undergone a complete transformation. The Emirates is soon set to become the premier diamond capital of the world, given its strategic location as the business hub and a popular tourist destination in the Middle East region,’ said Harshad Mehta, Chairman of Rosy Blue FZE.
‘We are seeing a situation develop where the region’s consumers and traders prefer the sparkle of diamonds to the glitter of gold. Currently, diamonds command a higher price in the market, and we anticipate a rise in this demand as the consumers’ purchasing power and their awareness of these precious stones increases in the near future,’
said Mehta.
The change in demographics and tastes and lifestyle of the consumers today has seen a shift in preference from gold to diamond jewelry. Capitalizing on this growing preference for branded jewelry, Rosy Blue has invested in strategic business initiatives to expand its own line of branded jewelry in the GCC region.
‘Rosy Blue has a direct presence in more than 15 countries across the world. Our global sales of loose diamonds reached $1.7 billion (Dh6.25 billion) in 2005, with $200 million (Dh736 million) sold in the GCC region and UAE sales worth $40 million (Dh147.2 million),’ said Sanjay Dalmia, CEO, Rosy Blue FZE
One in every 15 diamonds sold in the world is a Rosy Blue, and with its new collection, customers across the GCC region can now purchase the intricate and beautifully designed Rosy Blue jewelry at an affordable price. Targeted at women from varied background, the new collection has been crafted keeping in mind the cosmopolitan tastes and preferences of the women in the region.
December 12th, 2006
Hong Kong Jewelry Exports +14% to $3B
Diamonds.net, NY
RAPAPORT… Hong Kong’s jewelry exports increased 14 percent to $2.98 billion during the first ten months of 2006, according to the Hong Kong Jewelry Manufacturers’ Association (HKJMA), reported Xinhua News on December 8.
Speaking at the “2006 World’s Jewelry Design Masters, Strategists & Leaders Forum,†HKJMA chairman Edward Cheung noted that in the near future Hong Kong will continue to be the world’s fourth largest exporter of precious jewelry.
Jewelry exports will continue to rise to major destination markets- the U.S., Europe and Japan- he added.
Industry experts emphasized China’s increasing importance to Hong Kong jewelers as a manufacturing sector as well as a growing market for Hong Kong’s jewelry industry.
December 11th, 2006
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