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Apr 19 / kevin

The Chains of Silver in Israel Diamond Museum

RAMAT GAN, Israel, April 17, 2012 – An exhibition of Israeli silver Judaica entitled “Chains of Silver” was officially opened at the Harry Oppenheimer Diamond Museum (HODM) in Ramat Gan on April 16, 2012.

This exhibition is the first at the museum to deal with the important field of Judaica, which increasingly attracts collectors from all over the world.

The exhibition features more than 70 magnificent silver pieces, created by the Israeli artists Mauriciu Samuel and Itzhak Luvaton.

Some of the items are based on traditional designs and include ritual wine cups, spice boxes, mezuzot and Hanukkah lamps.

Others are intricate silver sculptures of everyday objects – a Harley Davidson motorcycle and sidecar, a Rolls Royce Silver Cloud, a bicycle, an airplane, the solar system, a ferris wheel – which have hidden within them ritual objects such as Shabbat candle holders, wine cups, Torah pointer, miniature books of Psalms, or Chanukah spinning tops.

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Apr 19 / kevin

Michael Hill Australian sales fall

 
Fine jewellery retail chain Michael Hill has posted a 2.7 per cent drop in Australian same store sales in the last nine months of trading.
The retailer has struggled in a tough Australian market over the last year, but there has been a glimmer of hope coming from, perhaps surprisingly, stronger North American sales.
Same store sales in the US experienced an impressive 17.5 per cent increase, while Canada grew by 6.4 per cent. Even consumers from New Zealand, where the chain began, chipped in with a 8.9 per cent rise.
“Third quarter sales were satisfactory in New Zealand, Canada and the US, however the Australian market continued to be difficult for the group due to the ongoing tight retail conditions,” company chairman Michael Hill said in a statement. 
“This sluggishness in the Australian market has resulted in our group “same store” sales being flat for the nine months, however the directors are pleased with the solid growth achieved in the other three markets,” Hill said.
Chief executive Mike Parsell told The Australian that the company isn’t the only jewellery retailer suffering.
“The Australian retail market has been fairly difficult in the last two quarters because of the uncertain economy and poor consumer sentiment,” he said. “Consumers are being very cautious. Gold jewellery has slowed quite a bit because of the higher price of gold. We are looking at lower margins from the sale of gold jewellery.”
Another silver lining to the disappointing Australian results is the increase in maintenance and jewellery repair business. The Professional Care Plan (PCP) accounted for about $20 million in the past nine months.
“Cash flow continues to grow for the Group,” Hill said, “due primarily to the ongoing success of the PCP product launched in October of 2010.”
Apr 19 / kevin

Gold predicted to fall before hitting US$2000

Gold could hit US$2000 by the end of the year, according to the latest Thomson Reuters GFMS Survey.
 
Released in London last week, the 46th annual survey by the consultancy did however stress that the price could fall below US$1550 an ounce over the next two months before rebounding to reach the predicted high.
 
Philip Klapwijk, GFMS’s global head of metal anyalytics, said global gold investment demand in 2012 is expected to reach close to 2000 tonnes – approximately 400 tonnes more than last year.
 
“The environment for gold investment should remain supportive this year,” he said.
 
“We’ve been above US$1900 within spitting distance of the (US$2000) price but we’ve seen a retracement recently with the stronger US Dollar.
 
“I think that’s the one question mark against gold’s move higher in US dollar terms – do we now see a period of US dollar strength and gold treading water for a bit?
 
“I think a lot depends upon monetary policy in the major economies. A lot depends upon whether we see further hits to confidence in fiat currencies. If we do see that and particularly if we also see inflation starting to worry people not perhaps just in China or India but also in Western countries, then we could well have a situation where gold goes viral, if you like, and we see significantly greater upside.”
 
He said gold investment demand was currrently “quite widespread”.
 
“It’s no longer really concentrated in just ETFs or by, shall we say, fund investments on the futures market.
 
“We’re now seeing significant demand for gold particularly in bar form and in coin form and that demand is occurring not just in Europe and North America but also in Asia where China in particular has been a fantastic growth market.”
Apr 19 / kevin

Michael Hill blames Oz for sales drop

 
Michael Hill International has blamed Australia’s “tight”‘ market conditions for a lack fo growth in its ‘same store’ sales for the six months ending March 31.
 
In the company’s most recent trading update, chairman Michael Hill said third quarter sales were satisfactory in New Zealand, Canada and the US but the Australian market “continued to be difficult for the Group due to the ongoing tight retail conditions”.
 
“This sluggishness in the Australian market has resulted in our Group’s ‘same store’ sales being flat for the nine months, however the directors are pleased with the solid growth achieved in the other three markets.”
 
‘Same store’ sales in Australia fell 2.7 per cent from $NZ246.3m to $NZ239.5m for the six months ending March 31 this year compared with the same period in 2011.
 
The company’s ‘same store’ sales in the US, New Zealand and Canada increased 10.2 percent to reach $NZ8.8m, 8.9 percent to reach $NZ81.8m and 0.8 per cent respectively to reach $NZ34.5m in the same period.
 
The company also reported that overall sales increased 5.1 percent year-on-year to reach $NZ391.3m in the six months ending March 31 this year.
 
Total sales in Australia grew 2.6 percent to reach $NZ257.2m during the ‎same period while sales in Canada increased by 15.7 percent to reach $NZ41.9m, the US increased by 11 percent to reach $NZ8.9m and sales in New Zealand increased by 7.9 percent to reach $NZ83.7m.
Apr 19 / kevin

Vicenza to host two jewellery events in May

VICENZA, Italy, April 15, 2012 – Vicenza will host two key international jewellery events in May – the World Jewellery Forum (May 13-20), and VICENZAORO Spring 2012 (May 19-23).

The World Jewellery Forum, organised by the Vicenza Fair with the World Diamond Council, the organisation that represents the jewellery and diamond processing industries, and CIBJO, the world jewellery confederation, will be attended by top jewellery and diamond business representatives from over 40 countries.

The World Jewellery Forum will gather senior executives from the United Nations, focusing on the Kimberley Process and corporate social responsibility in diamond production.

The Forum will be divided into two events: the Annual Meeting of the World Diamond Council, which will take place on 13th and 14th May, and the Annual CIBJO Congress, from 17th to 20th May, which will act as a forum for the various commissions set up for gemstones, pearls, and precious metals. The congress will include a review of situation of the World Jewellery Confederation Education Foundation (WJCEF) and a report on the ongoing cooperation between CIBJO and the United Nations.

The Vicenza Fair will again host VICENZAORO Spring (May 19-23), the international exhibition of the latest trends in gold and jewellery aimed at the Italian and international retail sectors, with the participation of more than 1,300 exhibiting companies from 30 countries and the main Italian goldsmithing districts.

One of the most eagerly awaited events will be the prize-giving for international competitions launched to recognise design talent: the “Next Generation – Jewellery Talent Contest 2012”, for young designers (aged under 30), and the “Andrea Palladio International Jewellery Awards 2012”, the equivalent of a jewellery “Oscar”, awarded to the very best in productive and commercial design.

The theme of the Next Generation competition was “Souvenir d’Italie” and the top prize will be awarded to the design that best interprets Made in Italy.

The award will recognize those who, in seven different categories, have enhanced premium jewellery.

The prize-giving will take place during the VICENZAORO Spring event.

Following VICENZAORO SPRING 2012, the spotlight will move to other events in Vicenza later in the year.

VICENZAORO About J, which showcases companies at the top end of the international jewellery market, will take place in the magnificent setting of Cortina d’Ampezzo, from 5-8 September 2012.

This exclusive event will give 25 leading Italian and international jewellery brands and 100 international buyers and top Italian retailers the opportunity to meet, in a sophisticated context where contemporary luxury will be the order of the day.

Apr 19 / kevin

Angelina Jolie’s engagement ring designed by Robert Procop in collaboration with Brad Pitt

 

April 14, 2012 – Following the first sighting of Hollywood actress Angelina Jolie’s engagement ring at the private view of the new Chinese Art collection at the LA County Museum on 12 April, jeweller Robert Procop confirmed that the ring was created by him, in collaboration with Brad Pitt, for Angelina Jolie.

Working closely with Brad Pitt to realise the star’s vision for the ring, Robert Procop was able to source a diamond of the finest quality which was then transformed using Pitt’s unique designs, cut with distinctive faceting to a shape and size that perfectly suits Angelina’s long, slender fingers.

Throughout, Brad Pitt remained heavily involved, overseeing every aspect of the creative design process from the perfect cut of the diamond centerpiece – an elongated tablet shape – to the finishing touches such as the mounting of a galaxy of smaller stones which are graduated in size and faceted to match, adding a crowning lustre to the ring.

The full creative journey – from conception to completion – took a year, with Brad Pitt waiting until the perfect moment to unveil this special jewel to Angelina Jolie.

Robert Procop has been the private jeweller to Angelina Jolie for over a decade and at the end of 2010, the pair unveiled the ‘Style of Jolie’ – a collaborative jewellery collection, the proceeds from which benefit children in need around the world via Angelina Jolie’s charitable foundation the Education Partnership for Children of Conflict.

A respected private jeweller, Robert Procop is recognised internationally as an authority on diamonds and rare gemstones and was recently appointed Editor-in-Chief of Famous Diamonds – the definitive guide to the world’s most important diamonds and chronicle of the stories behind them.

Apr 19 / kevin

Jewellery and watch sales up 17% in Q1 at LVMH

Sales at LVMH’s watch and jewellery division rose 17% at comparable structure and constant exchange rates in the first quarter of 2012 with the luxury group reporting that all brands “enjoyed good momentum in Europe”.

The watch and jewellery division of LVMH was described as delivering rapid growth and reported growth in this sector – not at comparable structure and constant exchange rates – was 141%.
LVMH noted an increase in retail orders of its watches and jewellery compared with last year’s first quarter.

Bulgari proved to be a jewellery highlight for the group with LVMH describing it as having “an excellent start to the year” that was led by the continued strong performance of its Serpenti collection.

The watches and jewellery division also reported continued own-store expansion in Asia. In that region, LVMH said that Chaumet registered “good growth” of its distribution network.

The solid performance of watches and jewellery forms just part of what was a sparkling first quarter for the group with total sales up 25% to €6.6 million (£5.4m) with revenue up 17% at comparable structure and constant exchange rates.

A forward-looking statement from the group read: “In an economic environment which remains uncertain in Europe, LVMH will continue to focus its efforts on developing its brands, will maintain a strict control over costs and will target its investments on the quality, the excellence and the innovation of its products and their distribution.

“The group will rely on the talent and motivation of its teams, the diversification of its businesses and the good geographical balance of its revenues to increase, once again in 2012, its leadership of the global high quality products market.”

Apr 8 / kevin

Jazz age jewellery gets its swing back

Fashions come and go and then come back again. Could the latest ‘in thing’ be vintage-inspired jewellery?

Advancements in life most often come from building on the past, but fashion sometimes dictates that we just to try and re-create it.

Following the wild success of HBO drama Boardwalk Empire and a remake of The Great Gatsby currently headed for cinemas, old-fashioned class is back in style. The jewellery world has quickly caught on to this trend with a number of vintage inspired designs beginning to emerge.

Small memorabilia worn as jewellery, silver fob chains, medallions and sovereign holders are becoming fashionable again as modern consumers seek to emulate the glamour and flare that rose out of the Roaring Twenties.

A number of jewellers have already caught the wave of this latest trend, with antique jewellery specialist Ann Koh saying she had noticed a clear growth in interest in everything old, even with the young.

“There has been enormous interest,” Koh said. “I sell a lot of vintage and antique rings to girls becoming engaged. There’s a group in the population, both young and old, that would never wear pre-loved jewellery, and there’s also people who wouldn’t wear new jewellery because they find it boring.”

Koh said jewellery lovers are not just attracted to the style of the pieces but also the stories behind them.

“With the old stuff there’s the intricate workmanship and history to appreciate as well as the product,” Koh explained. “A lot of people prefer the old art of jewellery. “

Koh also owns a pocket watch that was used as a watch in the original Great Gatsby film.

Apr 8 / kevin

Platinum now more attractive for jewellers

Platinum Guild CEO James Courage says platinum is at its most affordable price ever and Aussie jewellers should look to its benefits.


The incredible surge in the price of gold over the last decade has taken it into the same ballpark as the historically supreme metal, platinum. Late last year gold even leapfrogged platinum’s price, and the Perth Mint is still currently pricing gold above platinum. It’s pretty incredible when you consider platinum is around 30 times more rare than gold.

James Courage, CEO of Platinum Guild International, the organisation set with the task of “inspiring a passion for platinum that ensures it is the precious jewellery of choice” puts the gold price surge down to the economic times. Courage was in Australia last week to gain a better understanding of the Australian jewellery industry.

“I think one of the reasons the gold price has gone up is the [economic] uncertainty we are living through in many markets,” he told Jeweller. “It is a store of value, particularly in the last couple of years as an investment because there haven’t been many other investments that have had an upward trend to them.”

Naturally this has made gold more expensive for jewellers and consumers, which in turn has helped spawn silver’s explosion as a leading metal used in jewellery. The other consequence of gold’s price rise is the lavish and rare platinum is now comparatively cheaper than any time in recent memory.

“Jewellers and consumers still see platinum in the premium position so they think it’s priced super premium,” Courage explained. “Today you have that opportunity where it’s the same price as gold.”

The exclusive metal is now more attainable and the Platinum Guild wants to see that convert into higher sales of platinum jewellery. Courage says the white metal’s key jewellery market is still bridal.

“We’ve been promoting it in bridal since the Guild started [1975],” he said. “People very much like the pureness of platinum and it has a strong emotional resonance with the consumer; it’s often the preferred setting for the engagement ring or the wedding band, and that has a long history associated with it.”

Currently 29 per cent of the demand for platinum is for jewellery, with the remaining 71 per cent being taken up by industrial uses.

Courage said a number of markets around the world now had a white metal preference where platinum was the premium choice, however the high price of platinum had previously restricted that choice from being fulfilled. He said the parity of prices between platinum and gold should now change the level of demand for platinum.

“There are physical characteristics that support platinum and there are emotional characteristics that support platinum as well,”Courage explained. “One of platinum’s crucial plusses is that it’s usually 95 per cent pure, though it can go down to 85 per cent in the ISO but in most markets its 95 per cent pure. You’re always getting a pure metal product, which you’re not always getting with gold.”

Apr 8 / kevin

New Danish jewellery blossoms early

The European ‘invasion’ of Australia continues as another Danish jewellery range was launched at the Brisbane Jewellery Fair.

Sams Group Australia (SGA) introduced Blossom Copenhagen to the local market at the Brisbane Jewellery Fair, with the reaction from the visiting retailers indicating Australia’s fascination with Scandinavian jewellery design is far from over.

SGA’s managing director Steve Der Bedrossian was “over the moon” with the launch especially given that he finalised the distribution agreement for the new collection at BaselWorld just last week.

While he preferred not to talk about specific numbers of new stockists gained after the opening two days on the market, the activity on the SGA stand spoke volumes about the take-up by buyers.

The Blossom Copenhagen range features charm-based designs built on a range of leather wrist wraps, as well as matching necklaces and earrings.

Der Bedrossian said he always expected it to do well based on the stylish, Danish designs and the fact it allowed customers to build their own piece of jewellery, but the speed with which retailers had taken to it was pleasing.

“I think it’s aimed across the board,” Der Bedrossian said. “The price points are so good, there is nothing over $125 retail, so the price point is where it needs to be at in the market right now, but it’s also all sterling silver, so it’s great value.”

Der Bedrossian said he liked that the new collection worked well with just a handful of charms on each piece, saying many customers liked the uncluttered, simple style. “It has all of the components; the charms you can add can make some really classy jewellery,” he added.

Christina Lihn is the chief designer and the brand’s website states the “collection is in line with the classical Danish jewellery tradition where the designer and the craftsman work closely together. The end result is clearly visible in the organic and personal expression.”

Blossom Copenhagen is also new to the European market given that it was only launched in Denmark around 12 months ago. Der Bedrossian said his plan was to select specialist stockists in shopping centres and towns and try and maintain an element of exclusivity about the brand.