Hope you’re all staying healthy and safe. Wishing the best to everyone during this crazy time.
This week: How retail is changing during COVID-19. Should Neiman Marcus merge with Saks? And a Russian volcano spits out diamonds. All below.
Opening Fright
– Jewelers of America’s Back to Business Toolkit.
– Best ways to protect your workers.
– How to make jewelry try-ons safer in stores.
– Should jewelers require consumers to wear masks?
– Will department store shopping ever be the same?
– JCK’s industry resource page (updated regularly).
April retail sales experience biggest drop on record.
– Specialty store sales down 89.3% (!); subscription required.
– How retail shopping patterns are shifting.
– NRF: Retail’s revival depends on reduced fear.
– McKinsey looks at worldwide consumer behavior.
– “Well-being” may become the new luxury trend.
IRS says PPP loans may not be tax-deductible
– Small Business Administration inspector general warns about PPP “burdens.”
– Why PPP has become a threat to business owner retirement.
IJO cancels July conference in Baltimore.
– Atlanta Jewelry Show postponed.
– Baselworld managing director responds to second cancellation.
– JCK list of cancellations, reschedulings (updated regularly).
Christie’s to offer largest D color diamond ever auctioned online.
– Sotheby’s brings more auction items online.
Jared wants to make virtual weddings a thing.
Bulgari wants to make remote working “permanent.”
J.C. Penney avoids bankruptcy (for now) as it makes interest payment.
– It’s in talks for a $450 million loan.
– Pays out bonuses to executives.
– WWD: How Penney fell from grace (subscription required).
Neiman Marcus says it has a plan.
– Creditor calls for merger with Saks.
– Does merger make sense?
– Lenders want CEO fired.
– A victim of COVID-19—or private equity?
– GQ: Neiman’s “idea of luxury seems obsolete.”
– The lessons of Neiman Marcus and J. Crew.
Nordstrom is permanently closing 16 stores.
Czech billionaire makes big bet on Macy’s.
James Avery permanently shutting Texas manufacturing facility.
U.S. gem diamond imports dropped $0.9 billion in March.
Israel’s diamond industry still ground to a halt.
– Antwerp’s April was its worst month ever.
– Alrosa’s April sales were wiped out.
Ten questions with De Beers CEO Bruce Cleaver.
India allowing gem, jewelry businesses to resume operations.
Paul Zimnisky webinar on rough diamond market (audio).
– Avi Krawitz: How brands are staying relevant.
Russia, Congo, Botswana hold 80% of diamond reserves.
Diavik partners clash in Dominion insolvency hearings.
– Diavik introduces on-site COVID-19 testing.
Ex-WFDB president Ernie Blom wins case against group he headed.
Judge rules WD Lab Grown patent lawsuit can proceed.
Nirav Modi’s extradition trial postponed until September.
– Court plays video of Modi’s threats.
– Opposition claims Congress party “protecting Modi.”
Damas Jewellery appoints Luc Perramond CEO.
Jewelry Repair Enterprises CEO Gerry Weber retires.
Metal artist Hellyn Moore Pawula dies of coronavirus.
JK Findings acquired by investment firm.
Gokhran may purchase Alrosa rough.
Simon G. Jewelry debuts direct-to-consumer sales.
New wave of retailers brings “African luxury to the world.”
How Kendra Scott leverages data to bolster personalization efforts.
Minnesota jewelry company offers Quarantine Craft Club kits.
Michigan jeweler shifts to making masks.
Can a smartwatch detect COVID-19?
Peter Smith on “life during lockdown.”
– How the jewelry world has been dealing.
– How she’s managing: IO Collective founder Jenifer Thai.
Are diamonds the solution to our nuclear waste problem?
A Russian volcano erupts diamonds.
From the Blog
Should Jewelers Require Consumers to Wear Masks?
From the Podcast
The Jewelry District, Episode 18: Guest Rhett Outten
Have a safe and healthy weekend.
– Email: rbates – at – jckonline.com.
– Twitter: @robbatesjck
– Connect on LinkedIn
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