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Pantone Reveals Color of the Year

It’s a “shade of orange with a golden undertone.”

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Pantone, provider of professional color standards and digital solutions for the design industry, has announced Pantone 16-1546 Living Coral as the Pantone Color of the Year 2019.

Pantone describes the color as “an animating and life-affirming shade of orange with a golden undertone.”

“Just as coral reefs are a source of sustenance and shelter to sea life, vibrant yet mellow PANTONE 16-1546 Living Coral embraces us with warmth and nourishment to provide comfort and buoyancy in our continually shifting environment,” the company states in a press release.

Pantone also says the color “embodies our desire for playful expression.”

Leatrice Eiseman, executive director of the Pantone Color Institute, says, “Color is an equalizing lens through which we experience our natural and digital realities and this is particularly true for Living Coral. With consumers craving human interaction and social connection, the humanizing and heartening qualities displayed by the convivial Pantone Living Coral hit a responsive chord.”

Laurie Pressman, vice president of the Pantone Color Institute, added, “Color enhances and influences the way we experience life. As a shade that affirms life through a dual role of energizing and nourishing, PANTONE 16-1546 Living Coral reinforces how colors can embody our collective experience and reflect what is taking place in our global culture at a moment in time.”

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Wilkerson Testimonials

New York Jeweler Picks Wilkerson for Their GOB Sale

Jan Rose of Rose Jewelers, located in Long Island's famous Hamptons beach district, explains how she chose Wilkerson for her closing sale. Jan's suggestions: reach out to jewelers who have been in similar situations to find out what worked for them, and look for a company with experience in going-out-of-business sales. Once you've done that, the final step is to move ahead and trust the process.

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Blue Nile CEO Departs

The company has named an interim chief.

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Blue Nile CEO Jason Goldberger has left the company, GeekWire reports.

There’s been little explanation for his departure just a year-and-a-half after joining the online diamond retailer.

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The company stated that he “moved on to pursue his next challenge.”

“We are continuing to invest behind our strategic priorities and new capabilities to accelerate growth,” Blue Nile continued in a statement.

Eric Anderson is serving as interim CEO.

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Before joining Blue Nile, Goldberger served as chief digital officer and president of Target.com. He previously held roles with Gilt Groupe, Hayneedle and Amazon.

Blue Nile officially become a private company in February. It had previously traded on the Nasdaq. The Seattle-based company was acquired by an investor group in a $500 million deal. The investor group is made up of funds managed by Bain Capital Private Equity and Bow Street LLC.

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852 US Jewelry Retailers Closed Their Doors in 2018

The number of closures is up from 2017’s figure.

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The Jewelers Board of Trade reports that 852 U.S. jewelry retailers stopped doing business in 2018.

That’s slightly more than the 817 businesses that closed in 2017.

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Of those, 706 fell into the category of “ceased operations,” while 122 were listed as “consolidations (sale/merger)” and 24 were classified as “bankruptcies.”

Meanwhile, 183 jewelry retail businesses opened their doors in the U.S. in 2018. That was up significantly from 131 in 2017.

Counting wholesalers and manufacturers along with retailers, 1,013 U.S. jewelry businesses closed their doors in 2018. That’s compared with 1,022 in 2017.

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The total number of jewelry retailers listed in the U.S. is now 18,974, compared with 19,823 at the end of 2017, according to the Jewelers Board of Trade.

The total number of jewelry businesses, including wholesalers and retailers, is 25,102, compared with 26,270 at the end of 2017.

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Newly Discovered Gemstone Is Harder Than Diamond

It’s been found on Earth for the first time.

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Shefa Yamim, a precious stone exploration company in Israel, has discovered a new mineral that is harder than diamond and which has never been found on Earth before.

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The material is called carmeltazite, and it was recently approved as a new mineral by the International Mineralogical Association Commission on New Minerals, Nomenclature and Classification.

The mineral was named carmeltazite because of it its discovery on Mount Carmel and due to its major chemical components: titanium, aluminum and zirconium (“TAZ”), the company stated in a press release. Shefa Yamim trademarked the name “carmel sapphire” for the material.

The mineral “is a newly discovered type of corundum similar in appearance to the corundum, but unlike any other sapphire found in the world,” according to the company. The rough carmel sapphire is typically black, blue-to-green or orange-brown. The largest stone found is 33.3 carats.

The Vintage News reports that “it was previously believed that this type of mineral was only found on extraterrestrial material.”

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It’s harder than diamond and substantially rarer, “making its value extremely high,” according to the publication.

Avi Taub, CEO of Shefa Yamim, said in the release: “We are delighted that our Carmel Sapphire has been recognised as a host to many rare minerals. In today’s world where the prices of gems are determined predominantly by their rarity, the Carmel Sapphire is a unique discovery because it has not been found anywhere else in the world and was discovered by Shefa Yamim in the soil of the Holy Land. We believe this substantially increases the potential value of our ‘Gem Box’ of precious stones. The studies of Carmel Sapphire and its new minerals mark another milestone in the Company’s journey as we continue our progress towards trial mining in Zone 1 in 2019.”

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