How is everyone holding up? I welcome comments about how people are feeling, any thoughts on the current situation, and any issues you would like JCK to cover regarding the jewelry business and COVID-19. We are trying our best to help readers navigate this crisis. I certainly welcome work-at-home tips.
And even if you don’t have anything earthshaking to say, feel free to leave a comment below anyway. It’ll be good to hear from you! We are now isolated from each other, but we are still in this together.
On another note: If you find yourself with a lot of time on your hands, you can delve into the archives of our podcast, The Jewelry District. Our latest episode includes a discussion of the coronavirus, which reflects those blissfully naïve times of two weeks ago, plus talk about the gold price and fashion week. And, what the world needs now: a weird toilet story. Hear it all here. Our interview with John Kennedy of the Jewelers’ Security Alliance has a lot of great info too.
This week in Diamond Shavings: How credit cards can keep your business afloat. Will LVMH’s acquisition of Tiffany now be canceled? And jewelry goes genderless. All below.
Fred Meyer to close 71 stores.
Cancel Culture
– JCK Las Vegas, Luxury postponed.
– AGS Conclave canceled.
– Approximately 19% of U.S. stores are closed.
– JCK’s running list of cancellations, closings, reschedulings, reopenings.
InStore: 80% of jewelers said sales have gone down.
– See crisis as “existential threat.”
– My thoughts: Holding on will pay off for jewelers.
There are more loans than ever for struggling small businesses.
– Why it’s time to talk with your landlord.
– Ten tips for jewelers to deal with the fallout.
– How small businesses can use a credit card to stay afloat.
– Five steps to surviving the small business apocalypse.
– National Retail Federation pleads for government help.
– Inc.’s federal assistance tracker for small businesses.
– Jewelers of America’s Coronavirus Resource Guide.
How jewelers can protect their stores while closed.
Five ways to keep in touch with employees working from home.
– How to communicate with customers.
– Fruchtman: How should the coronavirus affect your marketing?
HuffPo: What to know about handwashing and jewelry.
– Vogue’s guide to cleaning your jewelry.
– InStyle: Wear jewelry while you work from home.
– Today: It’s a good time to clean and organize your jewelry.
What is retail’s “new normal”?
– Expert see increase in closures.
– U.S. retail sales fall in February.
Paul Zimnisky: The impact of COVID-19 on the diamond industry.
– Edahn Golan: The diamond industry will see a “resurrection.”
– Diamond prices take a hit.
– Industry upset at Rap list 5-8% drops
– Rapaport defends price changes.
– De Beers sight will go on.
– Alrosa considering online diamond sales.
– Miners vow to continue production.
– Ekati sends workers home.
– Surat decides not to shut down.
– Diamond workers’ union demands one week paid vacation.
– Bharat bourse asks office to halve attendance.
– Indian diamond bourse hall shuts down.
– Botswana diamond sales face slump.
LVMH is considering buying Tiffany shares on the open market.
– Why LVMH’s takeover of Tiffany may be in jeopardy.
– Tiffany’s 4th quarter profits fall below expectations, but sales beat them.
– Full results.
Pandora withdraws guidance, halts buyback.
Gold price “sharply down.”
– Centurion asks: Why?
Watch industry braces for “worst year ever.”
– An opportunity to solve its problems?
Swatch Group sees improvement in China, standstill in Europe and China.
Smartwatches now outselling traditional watches.
India’s lab-grown diamond exports up 60% in February.
– Lightbox seizes the lab-grown diamond moment.
– GSI to include treatment, process info on its lab-grown reports.
Examining the data on loose diamond margins.
De Beers applies to expand Gahcho Kué diamond mine.
Belgium, Israel to hold online diamond fair.
Owner fights for return of rough diamonds caught in limbo in Canada.
De Beers, Boston Consultants face IP lawsuit over Tracr tech.
Pravda Report looks at a trial over a Graff boutique.
Feds say CFO stole money to invest in African diamonds.
Eric the Jeweler blames owners for $2 million heist.
Two arrested in Hong Kong for cheating jewelry shops.
North Carolina jeweler kills himself after being shot in a robbery.
Julio Ramirez of M.K. Diamonds dies.
Lauren Thompson joins Reed Jewelry Group.
Robb Report names Kareem Rashed style editor.
Nikolay Gorokhov appointed as head of Alrosa’s Vladivostok branch.
Amazon will add 100,000 full- and part-time positions.
– Amazon buys Lord & Taylor building.
Walmart hiring 150,000 hourly workers.
Designers send out message of love and support over COVID-19.
– Facebook reveals industry’s coronavirus philanthropic efforts.
– Jewelry brands, PR firms support No Kid Hungry.
– David Rocha: Why charity is important at a time like this.
Jewelry follows clothes into genderless fashion
Are brown diamonds the next big thing in jewelry?
What is the Depalo app?
New Vacheron Constantin watch is set with 1,344 diamonds.
Glossier founder Emily Weiss has a nice engagement ring.
Kyler Murray has Bruce Lee pendant with 40 cts. of diamonds.
Media Watch
The Daily Mail likes emerald engagement rings.
A writer at WhoWhatWear remains “jewelry-obsessed.”
Essence is also obsessed with 10 jewelry brands.
From the Blog
Life During Quar-Time: Why Hanging On May Pay Off for Jewelers
From the Podcast
The Jewelry District, Episode 14: The Coronavirus, Spiking Gold Prices, and Fashion Week
The Jewelry District, Episode 13: John J. Kennedy
Have a nice, safe, and healthy weekend! WASH YOUR HANDS!
– Email: rbates – at – jckonline.com.
– Twitter: @robbatesjck
– Connect on LinkedIn
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