Weekly Top 5 News In The Jewelry Industry – Dec.23.2019

1. Officers from the Society of Chief Officers of Trading Standards in Scotland (SCOTSS) undertook a spot check on 1553 pieces of jewellery in 20 local authority areas. A total of 247 – 16 per cent – were not hallmarked or had an incorrect hallmark, while some instances of counterfeit copies of designer branded jewellery items, bearing names including Tiffany and Louis Vuitton, were also found.
2. MCM makes a move into jewellery for its Spring/Summer 2020 collection. German luxury fashion house MCM has partnered with renowned British jewellery designer Tateossian to debut its redefined jewellery line
3. American jewellery brand Tiffany & Co did not receive any other “credible” bids during the month when LVMH engaged in a public proposal to take over the business, reveals the proxy statement the company it filed with the Securities and Exchange Commission earlier this week.
4. Signet Jewelers Ltd. (SIG) beat analysts’ earnings estimates for the eighth consecutive quarter on Dec. 5. The stock popped on the report, and if gains hold, the daily chart could soon confirm a “golden cross” formation. The stock traded as high as $22.33 on Dec. 13 and then opened Monday below a weekly risky level at $20.95.
5. On Dec 12 fashion magazine Bazaar Jewelry opened an exhibition displaying works of outstanding designers from home and abroad in Beijing. With the theme of ‘Neo-Chinese Style’, the exhibition aims to present traditional Chinese culture and highlight the role jewelry plays in a chic lifestyle.

Extracted from:

1. https://www.scotsman.com/news/people/trading-standards-uncovers-fake-designer-jewellery-as-one-in-five-pieces-not-properly-hallmarked-1-5065015
2. https://www.lifestyleasia.com/sg/style/jewellery/mcm-makes-a-move-into-jewellery-for-its-spring-summer-2020-collection/
3. https://www.professionaljeweller.com/tiffany-co-struggled-to-find-other-credible-takeover-bids/
4. https://www.investopedia.com/signet-jewelers-remains-too-cheap-to-ignore-4779016diamond-jewellery-to-all-major-us-retail-outlets/
5. http://www.china.org.cn/arts/2019-12/19/content_75528352.htm