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

1. U.S. Jewelry and Watch rise. According to Mastercard’s research, online jewelry sales grew by 8.8 percent from November 1-December 24, putting a positive spin on what has been a difficult year for the diamond and jewelry trade.

2. Jewelers in New York City have created the world’s most valuable dreidel, according to Guinness World Records. The custom-designed piece created by Estate Diamond Jewellery is valued at £54,000 ($70,000). It includes the diamond-encrusted Hebrew letters nun, gimmel, hay and shin, and a 4.2-carat diamond on its tip.

3. The Gibbes presents micromosaic jewelry exhibition this January. The exhibition opens on Jan. 17 and runs through May 3.

4. Tiffany still has a few minor hurdles to clear in meeting all of the closing conditions in its acquisition deal with global luxury retailing giant LVMH. That buyout is scheduled to occur at approximately $135 per share in cash, which should keep the stock hovering just below that price between now and the closing sometime in mid-2020.

5. The upbeat trends jewelers have seen since Black Friday solidified in the last week. Thirty-one percent of jewelers said the 2019 holiday season so far had been a better than expected and a further six percent said it had been flat-out “terrific.” Thirty-three percent said it had been in line with their forecasts but those expectations had been noticeably bullish

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