Author: Ruchi Singla

Signet Jewelers has announced a multi-year restructuring strategy under the name “Grow Brand Love,” which includes store closures, operational consolidation, brand realignment, and leadership changes. The plan follows a period of declining sales and profitability for the company, which operates brands including Kay Jewelers, Zales, Jared, Blue Nile, and James Allen. Store Network Under Review Signet plans to evaluate approximately 150 underperforming stores for potential closure over the next two years. In addition, the company has identified close to 200 locations that, while currently performing well, are situated in what it considers declining retail environments. These stores may be relocated…

Watches of Switzerland Group (WoSG) has announced the commencement of a share buyback programme worth up to £25 million. The buyback, conducted in partnership with Barclays Bank PLC, will reduce the number of shares in circulation. The move follows the group’s December 2024 refinancing, which provided an additional £50 million in liquidity headroom, bringing the total available facility to £150 million. WoSG stated that its investment strategy, including showroom upgrades, new projects, and acquisitions, remains unchanged. Strategic Approach to Capital Allocation In a statement to the London Stock Exchange, WoSG reiterated its approach to capital allocation, prioritising investment in business…

Frédéric Arnault, son of LVMH chairman Bernard Arnault, has been appointed CEO of Italian luxury brand Loro Piana. His appointment is part of a series of leadership changes at LVMH as the company adjusts its management structure. Arnault previously served as CEO of TAG Heuer from 2020 before being promoted to head LVMH’s watch division in early 2024. His departure from the watches segment follows a 2% decline in revenue and a 28% drop in profit from recurring operations in 2024. While no successor has been announced for his previous role, Stéphane Bianchi remains CEO of LVMH Watches & Jewellery,…

Luxury jeweller Boodles has partnered with specialist insurer Stanhope to provide customers with 14 days of complimentary worldwide insurance coverage on jewellery purchases. Comprehensive Coverage from Day One Under the scheme, Boodles customers receive automatic insurance for jewellery purchases valued at up to £500,000. The cover includes protection against loss, theft, accidental damage, and fire. Unlike many home contents insurance policies, which may exclude high-value jewellery or require additional policy adjustments, this initiative provides immediate protection without delays. Expansion Following Successful Trial The insurance offering was first trialled at a Boodles flagship boutique. Following positive customer feedback, it has now…

The National Association of Jewellers (NAJ) has confirmed that the 2025 Valuers’ Conference, hosted by the Institute of Registered Valuers (IRV), will take place on 7th and 8th June at Edgbaston Park Hotel, Birmingham. Auction house Bonhams has been named as the headline sponsor for the event. Conference Structure and Key Features The Valuers’ Conference is designed for jewellery valuers and gemmologists, featuring a mix of keynote talks, workshops, and networking opportunities. A gala dinner will follow Saturday’s presentations, where the recipient of the David Wilkins Award will be announced. The dinner will provide an opportunity for networking among attendees.…

The National Association of Jewellers (NAJ) has announced that the JET Business Network (JBN) will host its 16th Annual Retail Congress on Tuesday, 3rd June 2025. This year, the event will be held at Drayton Manor Resort in Tamworth, with the theme “Lessons from the Best in Class.” The congress will feature business owners from both within and outside the jewellery industry, sharing insights on key commercial topics such as sales, marketing, leadership, differentiation, and retail as a destination. Networking Opportunities A pre-Congress networking dinner will take place on the evening of Monday, 2nd June, offering attendees the opportunity to…

A man has been arrested in Florida for stealing and swallowing more than $700,000 worth of jewellery from Tiffany & Co. in Orlando. Jaythan Gilder, 32, allegedly posed as a representative for an NBA player to gain access to high-value pieces before attempting to escape with them. Incident Details On 26 February, Gilder entered the store at a shopping mall in Orlando and was taken to a private room to view two pairs of diamond earrings and a diamond ring, with a combined value exceeding $1 million. He told store staff he was negotiating on behalf of a player from…

LAPADA Berkeley Square Fair has announced a new partnership with Haute Jewels, marking the high jewellery collective’s first dedicated presence in London. The collaboration will bring a curated selection of international haute joaillerie to the fair, which runs from 29 October – 2 November 2025, with a preview on 28 October. The annual LAPADA Berkeley Square Fair, held in Mayfair, is a key event for fine art, antiques, and design. It features over 100 specialist dealers presenting a range of works, from antiquities and jewellery to contemporary art and furniture. The addition of Haute Jewels introduces a high jewellery segment…

Bristol jewellery studio Silver & Steel has been named a finalist in the Green Growth Awards, a national competition recognising small businesses that have integrated sustainability into their operations to support business growth. Launched by Small Business Britain in partnership with BT, the awards will provide two £5,000 sustainability grants to businesses that have successfully boosted their bottom line by implementing environmentally responsible initiatives. Sustainable Practices in Jewellery Making Silver & Steel, founded in 2023 by Bethany Morton, was selected for its approach to sustainability in jewellery production. The studio uses recycled metals, promotes designers working with post-consumer and ethically…

A shipment of earrings containing illegal levels of cadmium and nickel has been seized at London Stansted Airport during a routine inspection. Essex Trading Standards reported that one design exceeded the legal cadmium limit by more than 7,000 times. Health Risks of Cadmium and Nickel in Jewellery Cadmium is a toxic heavy metal that can be used in jewellery as a coating, alloying agent, or pigment. Long-term exposure is associated with kidney damage, lung damage, and an increased risk of cancer. Nickel, which was also present in the seized jewellery, is a common cause of allergic reactions, including skin rashes,…

Sightholders at De Beers’ February sales cycle reported a reduced supply of rough diamonds over five carats, citing production declines and De Beers’ inventory management strategy. Prices remained stable across most categories as the company continued its approach of regulating supply. Market observers noted that this shortage contrasts with De Beers’ reported inventory levels, estimated at around $2 billion—its highest since 2008. However, much of this stock is believed to consist of smaller-sized goods rather than the larger diamonds currently in short supply. Production Declines and Supply Management De Beers’ total rough diamond production fell by 22% in 2024 to…

The British Retail Consortium (BRC) has raised concerns over the potential loss of up to 160,000 part-time jobs in the retail sector over the next three years. The industry body attributes this risk to increasing employment costs stemming from recent Budget measures and proposed regulatory changes. Retail currently employs over 1.5 million part-time workers, more than half of the sector’s total workforce. Many of these roles are filled by students, parents, and seasonal workers. The BRC warns that rising employment costs could lead to a reduction in these jobs over the coming years. Changes to Employer NICs and Their Effect…

Platinum Guild International Hong Kong Limited (PGI) has joined the Watch and Jewellery Initiative 2030 (WJI 2030) as an affiliate member. WJI 2030, based in Geneva, was founded in 2022 by luxury groups Kering and Cartier, with delegation from Richemont. The initiative aims to promote sustainability in the watch and jewellery industry through collaboration across the supply chain. PGI’s Chief Executive Officer, Tim Schlick, noted that the affiliation aligns with the organisation’s ongoing efforts in sustainability, stating: “WJI 2030 brings together businesses across the watch and jewellery supply chain to navigate evolving regulations. Their objectives align with those of PGI…

Beaverbrooks has announced the closure of seven stores across the UK, citing commercial viability concerns. The closures will take place between March and April 2025, following a business performance review. Store Closures and Timeline Beaverbrooks, which operates 89 stores across the UK, will reduce its store count to 82. The affected stores include five in England and two in Scotland. The scheduled closure dates are as follows: Scotland: England: Company Performance and Strategic Decisions Beaverbrooks reported a turnover of £228.6 million for the financial year ending February 2024, with operating profit declining to £10.5 million due to increased costs and…

Sarine Technologies Ltd and De Beers Group subsidiary Tracr have signed a collaboration agreement to enhance technology-driven diamond traceability. The partnership will integrate Tracr’s blockchain-based tracking system with Sarine’s scanning and identification technology to provide an unbroken chain of verification from rough diamond registration to polished stone. Blockchain Integration for Verifiable Provenance Sarine’s Diamond Journey traceability system will now incorporate rough diamond origin data recorded on Tracr, which logs stones at the source. The integration is intended to enhance supply chain transparency by using an automated verification process rather than relying solely on company declarations. A key aspect of this…

De Beers Group and the Government of Botswana have signed formal agreements solidifying their long-term partnership in diamond mining and sales. The deal includes a 10-year rough diamond sales agreement, with the possibility of a five-year extension, and a 25-year renewal of Debswana’s mining licences, ensuring continued collaboration in one of the world’s most significant diamond-producing regions. Key Terms of the Agreement The new agreements extend Debswana’s mining licences from August 2029 to July 2054, allowing for long-term resource management and the continuation of key mining projects such as Jwaneng Cut-9, Jwaneng Underground, and Orapa Cut-3. Under the revised sales…

The Responsible Jewellery Council (RJC) has launched the Laboratory Grown Material Standard (LGMS), a framework setting out requirements for responsible business practices in the lab-grown diamond and coloured gemstone sector. The standard applies to RJC members working with lab-grown materials and covers areas including legal compliance, due diligence, labour rights, health and safety, environmental management, disclosure, and grading. Scope and Requirements of the LGMS The LGMS outlines 28 key provisions that businesses handling lab-grown diamonds and coloured gemstones must follow. These include legal obligations, human rights protections, hazardous substance management, workplace conditions, and disclosure requirements. Companies will be required to…

Australian jeweller Margot McKinney has opened a temporary retail space at Bergdorf Goodman’s Jewellery Salon in New York. Running until 30 April 2025, the “In Residence” pop-up features a selection of McKinney’s designs, including pieces incorporating Australian South Sea pearls, opals, and coloured gemstones. Jewellery and Display The installation presents McKinney’s jewellery, with a focus on Australian-sourced materials. Several designs have been created specifically for the event, highlighting her use of natural gemstones and detailed craftsmanship. The space incorporates decorative elements reflecting McKinney’s Queensland background, including Chinese ginger jars and display materials in velvet and silk. The entrance features doors…

De Beers Group has introduced DiamondProof, a diamond verification device designed to distinguish natural diamonds from laboratory-grown diamonds (LGDs) and simulants. The device has been deployed in select retail stores in the United States, providing jewellers with a tool to verify a diamond’s origin in-store. DiamondProof’s Capabilities According to De Beers, research indicates that many consumers are unaware that LGDs can be detected. DiamondProof is designed to address this by identifying natural diamonds based on their distinct chemical composition, which differs from that of LGDs. The device delivers results within seconds and can be used for both loose and set…

A team of researchers from Jilin University and Sun Yat-sen University in China has successfully synthesised a lab-grown version of Lonsdaleite, a rare carbon allotrope. Their findings, published in Nature Materials, indicate that this artificial form of Lonsdaleite is at least 40% harder than natural diamond. What is Lonsdaleite? Lonsdaleite, named after the British crystallographer Professor Dame Kathleen Lonsdale, was first identified in 1967 within the Canyon Diablo meteorite in Arizona, USA. Unlike conventional diamonds, which have a cubic crystal lattice, Lonsdaleite has a hexagonal structure, contributing to its extreme hardness. Scientists believe that natural Lonsdaleite was formed due to…

Wealthy Russian investors are increasingly purchasing investment-grade diamonds, with demand for polished stones rising by 60% in 2023, according to VTB, Russia’s second-largest bank. This follows the Russian government’s decision to abolish VAT on diamond purchases, making gemstones a more accessible investment option for high-net-worth individuals. Rising Demand for Diamonds as Alternative Investments Oksana Semenenko, vice president at VTB and head of its private banking division, stated that diamonds are attracting investors due to their rarity and ability to hold value. “The uniqueness and rarity of diamonds make them particularly appealing amid rising financial market volatility and restrictions on traditional…

Céline Assimon will leave her role as CEO of De Beers Jewellers at the end of the month, the company has confirmed. Assimon joined De Beers Jewellers in 2020 after leaving Swiss luxury jeweller De Grisogono. In 2021, she took on the additional role of CEO of Forevermark, a position she held until March 2024, when De Beers restructured the brand to focus on the Indian market. During her time with De Beers, the company focused on expanding its core collections and high jewellery range while increasing its presence in key markets. Future Direction for De Beers Jewellers A De…

Members association The Jewellery Collective has announced Shine Online, a free event taking place on 3 April in London’s Hatton Garden. The event will focus on practical strategies for jewellers to improve their digital marketing, covering topics such as social media engagement, online visibility, and sales growth. Kassandra Lauren Gordon, founder of The Jewellery Collective, highlighted the importance of digital marketing for jewellers, stating: “In today’s competitive landscape, taking the time to reflect and grow our social media presence is crucial. This event provides a space to do just that – to develop strategies and expand your brand.” Session highlights…

Pomellato has announced French-Italian actress Philippine Leroy-Beaulieu as its new global ambassador. Best known for her role as Sylvie Grateau in Emily in Paris, Leroy-Beaulieu has portrayed independent and complex female characters throughout her four-decade career. Pomellato stated that her appointment reflects the brand’s emphasis on authenticity, independence, and creativity. Pomellato and Leroy-Beaulieu Collaboration Leroy-Beaulieu’s French-Italian background aligns with Pomellato’s Milanese roots. In a statement, she said, “Joining the Pomellato family feels like a natural extension of my own story. As a French-Italian actress, I’ve always admired how Pomellato combines Italian craftsmanship with contemporary design. Their jewellery speaks to women…

A recent study has revealed that Early Iron Age jewellery discovered in southern Poland contains iron sourced from a meteorite. The artefacts, uncovered at the Częstochowa-Raków and Częstochowa-Mirów cemeteries, date back to approximately 750–600 BCE and belong to the Lusatian Culture. The research, published in the Journal of Archaeological Science: Reports, found that four of the 26 examined artefacts—three bracelets and a pin—were made of meteoric iron. This discovery makes southern Poland one of the most concentrated sites for meteoric iron artefacts, comparable to some sites in Egypt. Meteoric Iron and Its Cultural Use The analysis, conducted using portable X-ray…

A London High Court ruling has dismissed a legal claim by Sheikh Hamad bin Abdullah Al Thani, the chief executive of Qatar Investment & Projects Development Holding (QIPCO), to enforce the purchase of the 70.21-carat Idol’s Eye diamond. The case was brought against Elanus Holdings, a company representing the heirs of the late Sheikh Saud bin Mohammed Al Thani, a former Qatari culture minister and art collector. Legal Dispute Over Ownership The Idol’s Eye diamond, thought to have come from the Golconda mines in India, was purchased by Sheikh Saud in the early 2000s. Before his death in 2014, he…

Lucara Diamond Corp has sold two diamonds recovered from its Karowe mine in Botswana for a total of $54 million. The 549-carat Sethunya and the 1,080-carat Eva Star were extracted from the South Lobe of the Karowe kimberlite, an area known for producing large, high-value diamonds. Karowe’s Ongoing Production of Large Diamonds The sale highlights Karowe’s history of recovering sizeable stones. Lucara’s president and CEO, William Lamb, commented on the mine’s continued production of high-quality diamonds. “The sale of these two extraordinary diamonds further validates our investment in the Karowe underground project. The unique characteristics of Karowe’s kimberlite, particularly in…

A collection of jewellery from Nagaland, a region in Northeast India, will be auctioned by Woolley & Wallis on 19 February 2025. The sale is part of the Arts of Africa, Oceania and the Americas auction and includes handcrafted pieces reflecting the cultural traditions of the Naga people. A Collector’s Lifelong Interest The collection belongs to art publisher and artist Hansjörg Mayer, who has spent 50 years acquiring jewellery and artefacts from the region. His interest began when friends purchased a Naga artefact at auction, which he later acquired from them. This led to a long-term focus on Naga craftsmanship.…

The Royal Mint has submitted 6,432 coins for assessment at the Trial of the Pyx, the UK’s oldest judicial ceremony overseeing the quality and fineness of the nation’s coinage. The event, held annually at Goldsmiths’ Hall in London, dates back to 1248 and plays a critical role in ensuring the integrity of British coin production. A key feature of this year’s submission is a silver sixpence crafted from recycled silver recovered from expired medical and industrial X-ray films. This is the first official UK coin produced using silver recovered from X-ray films to be submitted to the Trial of the…

Community interest company PeaceGold has introduced a series of jewellery-making courses at its newly opened PeaceGold Ethical Jewellery House in Bishop Auckland’s historic Fore Bondgate. The workshops, led by resident goldsmith Kate Seow, cover key techniques for beginners and improvers. Course Details Two structured workshops are being offered: Each course is priced at £75 per person, covering tools, materials, and refreshments. Sessions will take place on Sundays (9th February and March) and Tuesdays (18th February and March), with additional dates to be announced. Class sizes are limited to six participants per session. Instructor and PeaceGold’s Work in Ethical Jewellery The…