Diamond glut prompts De Beers to slash production
De Beers has lowered its production forecast for this year, noting that weakness in the diamond trade negatively affected its performance in the second quarter.
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Bulgari, Hublot sales strong for LVMH
LVMH reported double-digit revenue growth in its first-half results, boosted in part by a strong performance from its watches and jewelry division.
Swatch Group sees growth ahead despite half-year sales dip
Swatch Group reported a dip in sales in its half-year results Wednesday but said its crackdown on gray market sales should lead to an uptick in the second half of the year.
Richemont Q1 jewelry sales strong, but watch sales falter
Luxury conglomerate Richemont reported strong sales growth in its first-quarter results, but a slowdown in watch sales somewhat dulled its shine.
China lifts Richemont jewelry revenue
Sales at Richemont’s jewelry brands increased 10% in the first fiscal quarter, as lower value-added tax and customs duties drove purchases in mainland China, the luxury retailer said Thursday.
LVMH, Stella McCartney brand form partnership
LVMH has bought a minority stake in the Stella McCartney brand, a year after the designer’s split with rival luxury conglomerate Kering.
Are these reimagined Cartier and Rolex watches brilliant…or blasphemy?
There’s a lot to like about the Los Angeles–based brand La Californienne, which recasts classic vintage Cartier and Rolex watches as something magnificently bright, colorful, and fun, each creation as whimsical, and richly detailed, as a carousel pony.
WDC members stepping up to the plate, transforming lives from the grass roots up
“We don’t have to engage in grand, heroic actions to participate in the process of change. Small acts, when multiplied by millions of people, can transform the world.” Howard Zinn – Historian and Playwright
ABN Amro limiting loans on rough diamonds
Amsterdam-based bank ABN Amro sent a letter to some of its diamond clients stating that it will no longer finance rough purchases where there is not “sufficient profitability,” JCK has learned.
GIA cuts prices 10% amid market slowdown
The Gemological Institute of America (GIA) has temporarily reduced grading fees for certain smaller diamonds after recording a drop in submissions during the recent industry slump.
Marlon Brando’s Rolex from ‘Apocalypse Now’ up for auction
Another watch from the archive of films featuring Academy Award winner Marlon Brando will be up for auction this winter.
New Forevermark ad takes an “honest” look at marriage
Forevermark’s new marketing campaign, “I Take You, Until Forever,” which debuts the week of the 8th July, is meant to take an “honest” and “modern” look at love and relationships, said the De Beers–owned brand.