I hope everyone is staying healthy and safe. Wash your hands and stay inside! We wish everyone the best during this troubling time.
This week in Diamond Shavings: Patek Philippe lets retailers sell product online. What does the post-pandemic economy look like? And jeweler produces face masks. All below.
COVID-19 Infects the World
– Study: 630,000 U.S. retailers have closed.
– Retail layoffs begin.
– Signet furloughs staff.
– Employers try to stay in touch.
– Situation “critical” for small businesses.
– How independent jewelers are coping.
– Couture, AGTA GemFair, Antique Jewelry show canceled.
– Industry groups call for more government aid.
– Israel’s diamond exchange is a “ghost town”
– Artisanal miners also hurt.
– JCK’s list of industry cancellations, closings, reschedulings, reopenings (updated daily).
Getting Help
– How to apply for Paycheck Protection loans.
– Sherry Smith: The questions your business needs to ask.
– Should you apply for business interruption insurance?
– How banks might be able to help with credit card debt.
– Advice on how to communicate with stakeholders.
– How consumers want brands to communicate.
– JCK’s jewelry industry COVID-19 resources (also updated daily).
Some business owners who applied for SBA loans must now reapply.
Texas jeweler dies of COVID-19.
Connecticut jeweler’s death shows crime continues during COVID.
The “new world” of luxury e-commerce.
What will the post-pandemic economy look like? (video)
Patek Philippe allows retailers to sell their products online.
Following revolt, Rapaport list to go monthly.
Fitch downgrades Signet to “B.”
– Company settles lawsuit for $240 million.
New bill would hold e-tailers liable for counterfeits.
Chanel, the RealReal both nab wins in counterfeit lawsuit.
Court winds up Merlin Diamonds.
De Beers chief financial officer to leave.
Pandora beefs up marketing team.
Website looks at retailer ethics during pandemic.
Amazon worker fired for leading walkout.
– Vice: Memo shows attempt to “smear.”
Catbird “initiates dialogue” by announcing layoffs on social media (subscription required).
New York City Jewelry Week wants everyone to check in.
Alabama jeweler makes COVID-19 masks.
Nicky Oppenheimer tries to bail out South Africa.
– Oppenheimer’s sister donates 1 billion rand to COVID-19 solidarity fund.
How isolating has changed David Yurman’s perspective on his business. (subscription required).
People panning for gold in Welsh forest despite coronavirus lockdown.
Kristin Cavallari called “tone deaf” for promoting her jewelry on Instagram.
Russian jeweler makes coronavirus “pendants.”
Chicago jeweler sees more interest in gold trade-ins.
How to safely clean your engagement ring during coronavirus.
– Experts say: Don’t ditch your jewelry.
Michelle Graff has jewelry movie suggestions
– Top ten digital reads from the GIA library
Media Watch
Philadelphia’s Jewish Exponent on how to buy an engagement ring.
From the Blog
Should You Apply for Business Interruption Insurance?
From the Podcast
The Jewelry District, Episode 15: Guest Ruediger Albers
Have a nice, safe, and healthy weekend!
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