Headlines17-Store Jewelry Chain to Be Sold in $105M Deal Published 2 years agoon August 11, 2017By INSTORE Staff Share Tweet The deal is expected to close in the fall.MONTREAL — Birks Group Inc. announced that it will sell its subsidiary Mayor’s Jewelers Inc. to Aurum Holdings Ltd., the largest fine watch and jewelry retailer in the UK.The deal is valued at about $104.6 million, according to a press release. It’s subject to closing conditions and purchase price adjustments and is expected to close in the fall.Mayors operates 16 stores in Florida and Georgia under the Mayors brand and one store under the Rolex brand name. Birks (NYSE MKT LLC: BGI) operates 26 stores under the Birks brand in most major metropolitan markets in Canada and two retail locations in Calgary and Vancouver under the Brinkhaus brand.As part of the transaction, Birks entered into a five-year distribution agreement with Aurum to sell its products in the UK at Mappin & Webb and Goldsmiths stores and on their e-commerce sites. The Birks collections will continue to be sold in the U.S. through Mayors’ stores in Florida and Georgia.Jean-Christophe Bédos, CEO of Birks Group, said Aurum is “a strategic buyer committed to continuing investing in Mayors’ long-term growth.”“We believe that monetizing the value of Mayors gives us the ability to execute our strategic vision of investing in the Birks brand together with the retailing of internationally renowned jewelry and timepiece brands in Canada, thus transforming Birks into a global, omni-channel business,” he said. “This transaction with Aurum also opens the doors to the UK market for our jewelry collections and we are extremely proud to join such a prestigious network as Aurum’s under the Mappin & Webb and Goldsmiths banners.” AdvertisementHe said the company looks forward to introducing the Birks brand in other markets, as well.Aurum’s retail portfolio includes Watches of Switzerland, Goldsmiths, Mappin & Webb, Watchshop, The Watch Hut and The Watch Lab.Related Topics:acquisitionAurumBirksjewelry stores in Floridajewelry stores in GeorgiaMayors click to Comment(Comment)Up NextNeil Lane Brand Acquired, Will Expand ScopeDon't MissJewelry-Store Robbery Causes Mall Lockdown, and Other Crime News Advertisement SPONSORED VIDEOWilkerson TestimonialsHaving a Moving Sale? Let Wilkerson Do the Heavy LiftingFor Jim Woodard, owner of Woodard’s Diamonds & Design in Tullahoma, Tenn., when it was time for a moving sale, there was only one company to help with the event: Wilkerson. “They brought in the right team for us,” he says, remarking about the sale’s extraordinary results, including a nearly 500% monthly sales increase compared to the previous year. “I wanted to have the best in the industry. And that’s the main reason why I contacted Wilkerson.”You may like 4 Dead After Jewelry-Store Robbery Leads to Police Chase and Shootout (Video) Tiffany to Be Acquired in $16.2B Deal Luxury Giant Looks to Acquire Tiffany & Co. for $14.5BPromoted Headlines Closing Shop: Who Knew Going Out of Business Could Be So Easy?Wilkerson The Jewelry Retailer’s Ultimate Marketing Guide: Part 3/5RapNet 5 Creative Ways to Say Thank You This Holiday SeasonJewelers Mutual HeadlinesKate Middleton Shows Off Mysterious New Diamond Ring Observers of the royal family don’t recognize the piece. Published 1 day agoon December 15, 2019By INSTORE Staff Kate Middleton, Duchess of Cambridge, appeared at a public event last week wearing a piece of jewelry previously unknown to observers of the royal family.On her right ring finger, opposite the well-known sapphire and diamond engagement ring she wears on her right hand, was a large diamond ring, Town & Country. The occasion was the Diplomatic Corps Reception at Buckingham Palace.It’s definitely a ring, quite unusual for the Duchess! pic.twitter.com/l6WeJ3m3kR— WhatKateWore.com (@WhatKateWore) December 12, 2019The duchess also wore the Lover’s Knot Tiara, a piece that dates to 1913 and which was favored by the late Princess Diana.In photos, it’s hard to see the exact design of the new ring. Town & Country writes that it’s “unclear at this point if it is a wholly new design, something from the royal collection, or perhaps existing stones fashioned into something bespoke for Kate.”Read more at Town & Country Continue Reading HeadlinesUncut Gems Features Adam Sandler as a Jeweler and May Be His ‘Best Work Ever’ (with Video) It hits theaters today. Published 4 days agoon December 12, 2019By INSTORE Staff Uncut Gems, which features Adam Sandler as a jeweler, hits theaters today, and critics say it might his best work yet.In a review for Entertainment Weekly, Darren Franich calls Sandler’s performance “loud and meaningful, hyperbolic yet terribly human.”In the film from Josh and Benny Safdie, Sandler plays Howard Ratner, described on the movie’s official website as “a charismatic New York City jeweler always on the lookout for the next big score.”“When he makes a series of high-stakes bets that could lead to the windfall of a lifetime, Howard must perform a precarious high-wire act, balancing business, family, and encroaching adversaries on all sides, in his relentless pursuit of the ultimate win,” according to the site.Franich gives the movie an A-, noting that Sandler “exudes the self-lacerating melancholy familiar from his acclaimed dramatic work in Punch-Drunk Love and The Meyerowitz Stories (New and Selected).” In a headline, Entertainment Weekly says the film may be Sandler’s “best work ever.”The New York Times, meanwhile, rates the movie as a “Critic’s Pick.” Reviewer Manohla Dargis writes: “It doesn’t seem to add up to much — a little man lives his life — but this is just enough. It’s easier to admire than to love, and I hate the ending, but the Safdies clearly like working your nerves.”Watch the trailer below.Read more at Entertainment Weekly Continue Reading HeadlinesSales Remain Strong, But Jewelers Moderate Expectations a Bit for 2019 Holiday Season 45% of jewelers in our survey say the season is in line with their projections. Published 6 days agoon December 10, 2019By Chris Burslem JEWELERS TEMPERED THEIR expectations for the 2019 holiday season as we entered the second week of December with about one in four store owners telling an INSTORE Mini Survey they had fallen behind target. That compared to just 14 percent who were similarly downbeat following a robust Black Friday opening.Overall, sales were still strong though. Seven percent of jewelers said they were having a “terrific” season so far, 24 percent said it was better than expected and 45 percent said it was in line with their projections.“Traffic is up but I was expecting higher traffic as this is our fourth Christmas and have really increased sales over the last year,” said Christopher Sarich, the owner of Noah Gabriel & Co. Jewelers in Wexford, PA.Tickets continued to be strong with more than a third of jewelers saying their average sale was over $600, while a similar portion of store owners said their store traffic was up over last year (see charts below).Diamond sales of all kinds — bridal, studs, design, fashion and lab-grown — continued to do well with almost half of the jewelers in our survey citing diamond jewelry as their best-selling item. Custom was also doing well.“Custom! Everything from scratch to customized assembly,” said Jennifer Farnes, owner of Revolution Jewelry Works in Colorado Springs, CO.Given the overall health of the economy and consumers’ appetite for jewelry, this could also be a good season to move aged inventory, suggested Jill Hornik, owner of Jae’s Jewelers in Coral Gables, FL.“This is the perfect time for an inventory reduction sale to get rid of old stock. We put over 200 items over 5 years old into our case normally designated for a silver designer, and have made 31 times the revenue we normally would within that same case space.”The second 2019 Holiday Season Mini survey was taken on Monday by 112 independent jewelers who are part of our Brain Squad readers group. We will send out more surveys over the course of the holiday season. Look out for the results each Tuesday. 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