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Know It All: October 2015

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De Beers Unveils Generic Ad Push

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De Beers announced it would make “a major investment” in a holiday marketing campaign to boost overall consumer demand for diamond jewelry. The plan marks the diamond giant’s first generic advertising effort in seven years.
— INSTORE, 8/25/15


Pandora axes 125 more Retailers

2 Shortly after announcing bumper second-quarter earnings, Pandora said it was dumping 125 mostly-U.S. retailers from its distribution network. The Danish firm plans to close more such “unbranded accounts” in the future and open more of its own “concept” stores in their place. — JCK, 8/11/15

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Alrosa Hints More Price Cuts to come

3 Alrosa, the world’s largest diamond miner by volume, said it may cut prices again in the second half of the year. The news followed reports that De Beers (the largest diamond miner by value), had lowered prices by as much as 9 percent at its August sight. — Rapaport Tradewire, 9/2/15


London Jewelers lands Apple Watch

4 Long Island’s London Jewelers became the first U.S. specialty jeweler to offer Apple’s smartwatch line, including its 18K gold Edition model. London, a former America’s Coolest Store winner, joins a list of boutiques carefully selected by Apple to carry its foray into timepieces. — Town & Country, 8/18/15

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Study: Diamonds came from Seawater

5 Scientists have long theorized that diamonds form like other crystals — from a fluid. But they were never sure what that fluid was. Now, a group of U.S. and Canadian researchers believe they have found good evidence the catalytic liquid that produced at least some kinds of diamonds was ancient seawater, trapped 125 miles beneath the earth’s surface. That evidence comes in the form of 11 diamonds from the Ekati mine in Canada’s Northwest Territories: all infused with droplets of water. — CBC News, 8/18/15, Read more at: instr.us/10152.


jeweler gets lift from Ashley Madison

6 Marketing often provides the greatest rewards to the nimble, as Pennsylvania-based luxury retailer Opulent Jewelers showed when it offered discounts to men whose marital indiscretions were revealed in the hack of the Ashley Madison website. “We actually sold an item worth just over $15,000 to a gentlemen from the West Coast last night,” an Opulent spokesman told CNBC, the day after the promotion was launched. — CNBC, 8/21/15

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Retailers Slow on social media

7 If you’re a bit slow to reply to social media comments, take comfort in knowing you’re not alone. According to a study by Sprout Social, seven of eight customer messages go unanswered for at least 72 hours. But don’t take too much comfort. The number of customers turning to social media for customer support is up 21 percent in the last six months, and you can be sure these customers won’t go away quietly if their issues aren’t addressed. — AdWeek, 9/5/15


Virgin Rainbow opal

The Virgin Rainbow opal weighs in at 72 carats.

“World’s Finest” Opal Goes on Display

8 The 72-carat Virgin Rainbow, widely described as the world’s finest opal, has gone on display for the first time at a museum in South Australia. The 2.4-inch-long multicolored gem is classified as a black opal, although it blazes with a kaleidoscope of hues. It is estimated to be worth in excess of $1 million. — Daily Telegraph, 8/18/15


Digital Ledger takes on Diamond Fraud

9A British start-up says it wants to end diamond fraud and theft through its centerpiece technology: a digital ledger that permanently records dozens of cross-reference-able data points on each listed diamond. In its first five months of operation, Everledger recorded the details of more than 830,000 diamonds. — UK Business Insider, 8/28/15


JBT chief Kenyon to retire in 2016

10 Dione Kenyon, the longtime president of the Jewelers Board of Trade, will retire next year. During her 14-year reign, Kenyon helped move the credit rating group to a 24-hour online information platform, modernized its credit reporting systems, and rolled out a mobile version of JBT’s renowned Red Book. — INSTORE, 8/21/15

This article originally appeared in the October 2015 edition of INSTORE.

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Wilkerson Helped This Jeweler to Navigate His Retirement Sale Despite a Pandemic

Hosting a going-out-of-business sale when the coronavirus pandemic hit wasn’t a part of Bob Smith’s game plan for his retirement. Smith, the owner of E.M. Smith Jewelers in Chillicothe, Ohio, says the governor closed the state mid-way through. But Smith chose Wilkerson, and Wilkerson handled it like a champ, says Smith. And when it was time for the state to reopen, the sale continued like nothing had ever happened. “I’d recommend Wilkerson,” he says. “They do business the way we do business.”

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