1. French luxury jewellery, watch, and perfume company Van Cleef & Arpels has opened its first ever high jewellery exhibition. The Milan-based exhibition, titled “Time, Nature, Love”, features more than 400 watches and pieces of jewellery produced since the Maison was founded in 1906. The exhibition will run until February 23, 2020.
2. Shares of Signet Jewelers (NYSE:SIG) were down 14.8% as of 11:00 a.m. EST Thursday after analysts at Wells Fargo (NYSE:WFC) downgraded the parent company of jewelry chains including Kay, Zales, Jared, and Piercing Pagoda.
3. Tiffany & Co. is launching its first comprehensive jewelry collection for men in October as it seeks to diversify its traditional customer base.
4. A new report published by IDEX Online shows that sales of fine jewellery and fine watches in the US market rose 3.2% year-on-year in October – the fourth successive month in which sales have increased.
5. Gems and jewellery exporters are eyeing new markets such as Russia, Brazil, Vietnam, Singapore, France and Italy after the adverse impact of economic slowdown in China and unrest in Hong Kong on shipments in this financial year. Exports of gems and jewellery fell 4.66 percent year-on-year in April-November 2019 and the trend is likely to persist in the rest of the current fiscal.