Connect with us

Headlines

$90M in Counterfeit Jewelry Seized by US Customs

‘Seizures, like these, will ensure inferior, often dangerous goods do not fall into the hands of everyday Americans,’ said the port director.

mm

Published

on

Louisville CBP officers at the Express Consignment Operations (ECO) hub in Louisville have seized multiple shipments of counterfeit jewelry that would retail for $90 million.

LOUISVILLE, KY – Since the middle of July, U.S. Customs and Border Protection officers in Louisville have seized counterfeit bracelets and other jewelry worth over $90 million if the goods were genuine.

From July 17 to 31, CBP officers at the Express Consignment Operations hub seized three large shipments of counterfeit bracelets totaling more than $42 million. This seizure led to the arrest of a pastor in North Carolina who was discovered with a cache of more than 3,200 fake Cartier bracelets. On Aug. 2, North Carolina Secretary of State Elaine Marshall announced that church pastor JianGang “Frank” Lan was charged with felony criminal use of a counterfeit trademark and is being held under $25,000 bond in the Orange County Jail.

The next large seizure took place from Sept. 9 to 17, when CBP officers seized five shipments that contained counterfeit jewelry, which would be worth more than $48 million if genuine.

“When purchasing items from a vendor over the internet, if it seems like too good of a deal it is,” said Thomas Mahn Jr., Louisville port director. “A Cartier bracelet listed online for $25 is definitely not authentic.”

Consumers should be aware that counterfeit products are often manufactured in unregulated facilities and with substandard materials.

“Seizures, like these, will ensure inferior, often dangerous goods do not fall into the hands of everyday Americans,” Mahn said. “Counterfeit jewelry is often forged with lead and other hazardous materials unbeknownst to the buyer. These seizures protect the rights of the intellectual property rights holder, health and safety of Americans, and the reputation of online marketplaces involved in these transactions.”

Advertisement

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Advertisement

SPONSORED VIDEO

Les Georgettes

It’s All About Choices

With beautiful jewelry from Les Georgettes, choice is everything. Choose a design. Change colors. With 30 styles, 3 finishes and 48 stunning leather colors, you’ll never be at a loss for a unique piece of jewelry. Create, mix, stack and collect Les Georgettes by Altesse. Made in France.

Promoted Headlines

Headlines

The Big Survey 2019: Top Jewelry Brands Revealed

This year marks a three-peat.

mm

Published

on

WE ASKED OUR 802 Big Survey respondents, “What are the three best performing brand-name jewelry lines that you carry?”, and these were the top 20 brands mentioned. Interestingly, Gabriel & Co. and Stuller made it a three-peat, claiming the top two spots in our rankings for the third year in a row. Allison-Kaufman moved up a spot from 4 to 3, and Simon G. was a big leaper, jumping all the way to number 5 from 20 in 2018. (Total votes included in parentheses)

2019 RANK / BRAND2018 RANKCHANGE IN RANK
1. Gabriel & Co. (64)1
2. Stuller (41)2
3. Allison-Kaufman (29)4up 1
4. Hearts On Fire (18)3down 1
5. Simon G. (15)20up 15
6 tie. Pandora (14)6
6 tie. Ostbye (14)10up 4
8 tie. John Hardy (13)9up 1
8 tie. Lashbrook (13)15up 7
10 tie. Benchmark (12)8down 2
10 tie. Frederic Duclos (12)11up 1
12 tie. Roberto Coin (11)23up 11
12 tie. Sylvie Collection (11)22up 10
12 tie. ASHI Diamonds (11)23up 11
15 tie. Berco (10)23up 8
15 tie. Tacori (10)outside top 25 
17 tie. ArtCarved (9)7down 10
17 tie. Le Vian (9)outside top 25 
17 tie. Officina Bernardi (9)outside top 25 
17 tie. SDC Creations (9)15down 2
Continue Reading

Headlines

Jewelry Brand Opens 2 Brick-and-Mortar Stores Following $13M Investment Round

They’re located in New York.

mm

Published

on

AUrate, a New York based direct-to-consumer fine jewelry brand, plans to use part of the $13 million that it recently raised to build a brick-and-mortar presence.

The company is opening two permanent stores in New York City, Women’s Wear Daily reports. They’ll be located in SoHo and on Madison Avenue.

They’ll “feature experiential technology that introduces consumers to the raw materials and production methods enlisted to create Aurate jewelry,” according to the report.

They were set to open Oct. 12.

AUrate announced in late June that it had completed a $13 million investment round. With the Series A funding, led by Michael Platt of BlueCrest Capital, the company said it planned to expand its online and offline operations and direct investment in technology. Additional participants included Point King Capital, Arab Angel Fund and Drake Management.

AUrate soft-launched in 2015, when co-founders Bouchra Ezzahraoui and Sophie Kahn held full-time jobs at Goldman Sachs & Marc Jacobs, respectively.

The brand was officially launched in 2017, with both online and offline stores. The co-founders went on to raise $2.6M in a seed round.

Read more at Women’s Wear Daily

Continue Reading

Headlines

De Beers Lab-Grown Diamonds to Make Brick-and-Mortar Debut

It’s a test run that will begin this month.

mm

Published

on

Lab-grown diamonds from De Beers-owned Lightbox will soon be available at certain Bloomingdale’s and Reeds Jewelers stores.

It’s a test run that will begin this month, Forbes reports. The effort marks Lightbox’s brick-and-mortar debut.

Lightbox pieces are lab-grown diamonds set in accessibly priced fashion jewelry. They’ve been sold since September 2018 online and in pop-up shops.

Video: The Right Way to Make Add-On Jewelry Sales
Jimmy Degroot

Video: The Right Way to Make Add-On Jewelry Sales

Video: How to Ask for Referrals Without Being Too Pushy
Jimmy Degroot

Video: How to Ask for Referrals Without Being Too Pushy

Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’
Headlines

Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’

The pieces will be sold at Bloomingdale’s 59th Street flagship in New York and its San Francisco location store. And they’ll be available at 30 Reeds Jewelers, primarily in the Southeast, Forbes reports.

The trial is expected to last as long as six months.

Lightbox debuted in 2018 with products priced from $200 for a quarter-carat stone to $800 for a one-carat stone. It started with pink, blue and white lab-grown diamonds in a selection of earring and necklace designs, and the company later said it was expanding the line with bracelets and stackable rings.

Bruce Cleaver, CEO of De Beers, said last year that Lightbox would “transform the lab-grown diamond sector by offering consumers a lab-grown product they have told us they want but aren’t getting: affordable fashion jewelry that may not be forever, but is perfect for right now.”

The move to brick-and-mortar is no surprise. Lightbox Managing Director Steve Coe announced at the JCK Las Vegas show in June that he expected to begin market testing the brand in retail stores this year. After the company’s $94 million plant in Gresham, OR, goes online in 2020, production will increase and the brand will be offered to a broad range of retailers by 2021. Color offerings and jewelry-design styles will likely be expanded as well.

Coe said consumer research has backed up the De Beers belief that laboratory-grown diamonds work best as fashion accessories for everyday wear, and not for significant occasions, such as engagement, for which consumers say they prefer natural diamonds.

Read more at Forbes

Continue Reading

Most Popular