Hope everyone is staying healthy and safe. Wishing all of you the best.
This week in Diamond Shavings: The one group that can reopen the economy. New York jeweler accused of price gouging with masks. And the latest on Neiman, Penney, and Saks. All below.
Crystal Palace Intrigue
– Swarovski names Robert Buchbauer CEO.
– My thoughts: The crystal ship now has a captain.
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We’re Open for Business (for Now)
– Security tips if your store reopens.
– Sherry Smith: A five-point reopening checklist.
– How Simon Property Group is reopening its malls.
– South Carolina jeweler reopens very carefully.
– Colorado jeweler taking extra precautions.
– Texas jewelry stores, pawnshops doing good business as layoffs mount.
– “Only consumers” can reopen the economy.
– JCK’s list of cancellations, reschedulings, reopenings (updated regularly).
Just 22% of jewelers have totally shut down.
– Nearly half of jewelers furloughed their workers.
– Jewelry designers find new ways to sell during COVID-19.
What will young consumers want when COVID-19 ends?
– How COVID-19 could change the retail landscape.
– It might “change retail forever.”
– Five forces that will shape retail’s post-pandemic future.
– McKinsey looks at retail M&A post-pandemic.
– How the mall may be reimagined.
– Jewelers say some COVID-19 tweaks may be permanent.
Congress adds $310 billion to SBA loans, large companies return loans.
Tips for emerging from lockdown with your sanity intact.
– JCK’s list of COVID-19 resources (updated regularly).
Frustrated customers say their rings at Signet stores are in “jewelry jail.”
Report: Investors want Neiman Marcus put up for sale.
– Why Neiman needs to get slimmer.
– Texas Monthly asks whether it should exist.
– Why Neiman Marcus will likely survive (subscription required).
Why J.C. Penney will likely survive too.
– Penney, lenders struggle to find assets to back fresh loan.
Saks owner missed April payments on commercial mortgage debt.
– Saks parent lays off 507 New York City workers.
Macy’s CEO says company will get smaller.
– Plans to reopen all its stores in six to eight weeks.
J. Crew preparing bankruptcy filing.
Why it takes retailers so long to file for bankruptcy.
More than half of mall-based department stores could close.
– Department stores used to be innovative. What happened?
Dominion Diamond asks court for more “breathing room.”
– Petra moves toward debt restructuring.
De Beers offers 100% deferrals at May sight.
Alrosa to halt polishing until end of summer.
– Says it doesn’t need government aid (for now).
Avi Krawitz: Rough market faces “toughest year yet.”
GJEPC webinar on post-COVID-19 recovery options (video).
– Edahn Golan’s polished market Q&A (video).
Indian diamantaires are looking at decades-low revenue.
Diamond industry workers rebel in Surat.
Thoughts on COVID-19 from diamantaires in India and London.
– Five takeaways from CIBJO’s “Surviving the Lockdown” webinar.
Victoria Gomelsky: How Swiss watch brands are coping.
Rolex prepares to reopen watchmaking facilities.
– Girard-Perregaux and Ulysse Nardin get back to their benches.
– Zenith too.
Soaring gold prices “send jewelry industry into new uncertainty” (subscription required).
Scotiabank to close its metals business.
Court declines to dismiss WD’s patent case against Pure Grown, Fenix.
Nirav Modi, associates pressed on bankruptcy court fraud claims.
Mehul Choksi, Jatin Mehta listed among top loan dodgers.
Jona Rechnitz’s jewelry lawsuits leads union boss to ask for new trial.
Long Island jewelry store is raided for allegedly price gouging masks.
Gervonta Davis tried to pay for $250,000 in jewelry with fake check.
Why all small-scale mining isn’t illegal.
Zimbabwe Consolidated Diamond Co. officials resign.
Xcel Brands gets SEC delisting warning.
Jewelers Mutual appoints new chief financial officer.
Cartier bracelet sets online auction record.
Tiffany introduces Instagram live series to promote new collection.
Kendra Scott says it’s surviving coronavirus (registration required).
Dog swallows woman’s engagement ring.
Mashable looks at what makes a diamond beautiful.
From the Blog
Swarovski Now Has a Captain for Its Crystal Ship
From the Podcast
Have a safe and healthy weekend.
– Email: rbates – at – jckonline.com.
– Twitter: @robbatesjck
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