Weekly Top 5 News In The Jewelry Industry – Spet.30.2019

1. On September 27, 2019, Richemont Group announced that it had acquired 100 percent of renowned Italian jewelry house Buccellati Holding Italia SpA in a private transaction with Gangtai Group Corporation Limited, a privately held conglomerate.

2. Jewelers’crime losses drop 26% to hit record lows. Losses declined to $53.4M. According to the Jewelers’ Security Alliance’s 2018 Annual Crime Report, from 2017 to 2018, US dollar losses from crimes against American jewelry companies fell by 25.9%, hitting record lows.

3. The Trump government lifted the tariffs on more than 400 products from China. The list spanned everything from dog collars to ice cream makers. Once again, jewelry-related products apparently didn’t make the cut—which means they are still subject to the tariffs enacted in September. Those duties, which were originally 10%, were raised by President Trump to 15% in a late August tweet. Industry sources said that at present, the industry has not been affected by the new responsibilities, but with the approaching of holidays, the situation may change

4. The GEM Awards committee of Jewelers of America (JA) has announced the GEM Award nominees in the categories of Jewelry Design, Media Excellence and Retail Innovation. The winners in these categories will be announced live during the 18th Annual GEM Awards on Friday, January 10, 2020, at Cipriani 42nd Street in New York

5. Hermès celebrated its new collection of Free-Spirited, Body-Inspired Jewelry with a dance performance at New York’s Lincoln Center. The collection also explores the chain link as a building block of metal jewelry, and as a symbol of strength and attachment.

Extracted from:

1. https://www.forbes.com/sites/elizabethdoerr/2019/09/27/richemont-luxury-group-acquires-buccellati-now-celebrating-a-century-of-making-jewelry/#26f371b93b3e

2. https://instoremag.com/jewelers-crime-losses-drop-26-to-hit-record-lows/


4. https://instoremag.com/jewelers-of-america-announces-the-2020-gem-awards-nominees/#close-olyticsmodal

5. https://news.artnet.com/art-world/hermes-enchainments-libres-new-york-1662511

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