Signet Jewelers Q2 Sales Rise 15.1% With All National Store Brands Contributing

Signet Jewelers said Thursday second quarter sales in its US and UK stores increased 15.1 percent year-over-year to $1.41 billion. Same store sales increased 4.2 percent for the same period. 

The company’s eCommerce sales rose 30.5 percent to $65.9 million. Profit increased 7.2 percent to $62.2 million. 

The Bermuda-based company owns more than 3,600 retail locations, including Zale and Kay Jewelers brands in the U.S. as well as the Ernest Jones brand in the UK, said the sales increase “was driven by positive sales performance across all national store brands.” 

The company added that in the second quarter, an operational change related to the Sterling division’s extended service plans associated with ring sizing favorably impacted earnings. 

Second quarter sales by division are as follows:

* Sterling Jewelers division (which includes Kay Jewelers and Jared) reported that total sales increased 5.9 to $858.5 million. Same store sales increased 3.3 percent. Signet said sales increases “were broad-based across store banners, product brands and non-brands, as well as multi-channels. Bridal and diamond jewelry was particularly strong.” The average transaction price increased by 4.2 percent while the number of transactions decreased by 2.5 percent, due primarily to merchandise mix.

* Zale Division (a new Signet division that consists of former Zale Corp. brands, such as Zales, Piercing Pagoda stores in the US and Canada) saw its sales increase by 57.3 percent to 389.3 million. Same-store sales rose 5.8 percent for the period. 

* UK Jewelry division total sales declined by 2.3 percent to 159.1 million. The decreases were “driven entirely by foreign currency exchange rates,” Signet said. Same-store sales increased 5.1 percent. The average transaction price and number of transactions for the division increased by 4.3 percent and 1.8 percent, respectively, due to the merchandise mix. 

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Asia’s Fashion Jewelry Fair Set To Make Its Mark Alongside September Hong Kong Fair

There is another annual tradeshow held alongside the September Hong Kong Jewellery & Gem Fair. Asia’s Fashion Jewellery & Accessories Fair – September will be held September 16 - 19 at AsiaWorld-Expo, Hong Kong, the same place and time as the raw materials portion of the larger September Hong Kong fair. 

AFJ occupies Hall 2 and the Concourse of AWE, which totals around 11,360 square meters of exhibition space. More than 400 exhibitors, of which more than 80 percent are from outside Hong Kong, will be featured, including Mainland China, France, India, Indonesia, Italy, Korea, the Philippines, Thailand, Turkey, UK, USA, and Taiwan.

As with the September Hong Kong Jewellery & Gem Fair, the world’s largest fine jewelry fair, AFJ is owned and operated by UBM Asia. 

Now in its 13th year, the September AFJ serves as the launching pad for Spring/Summer collections. It gives buyers from around the world the opportunity to preview and source upcoming trends in fashion jewelry and accessories long before they hit stores. It also offers buyer favorites and timeless bestsellers. Meanwhile, market specialties will be offered by exhibitors in five group pavilions, including mainland China, India, Korea, the Philippines, and Taiwan region. In addition, the Stainless Steel Jewellery Pavilion is back by popular demand.

“Since its launch in 2003, 9FJ has been providing both buyers and suppliers a professional platform to connect with each other and explore business opportunities,” said Celine Lau, director of Jewellery Fairs of UBM Asia Ltd. “The steady growth in the number of visitors and exhibitors over the years confirms the fair is fulfilling its goal.” 

UBM Asia has arranged a free continuous bus service running directly from HKCEC and Tsim Sha Tsui to AsiaWorld-Expo. For details and pick-up points, follow this link. 

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Hong Kong Jewelry Fair Continues to Receive Strong Industry Support

Record crowds at the 2014 September Hong Kong Jewellery & Gem Fair

Hong Kong has long been recognized as one of the world’s premier trading hubs and manufacturing centers for the jewelry industry. 

China and Hong Kong were the runaway leaders in composite luxury sales growth in 2013, with 33.4 percent growth, according to the 2015 Global Powers of Luxury Goods report by Deloitte Touche Totmatsu Ltd. Chinese and Hong Kong companies registered the fastest growth in luxury sales in 2013. In addition, China recorded a 10.7-percent hike in retail sales of gold, silver and jewelry in May 2015, according to the National Bureau of Statistics of China. 

As a gateway to China’s jewelry market, Hong Kong is well positioned to host the September Hong Kong Jewellery & Gem Fair, organized by UBM Asia, the world’s largest B-to-B jewelry tradeshow. 

The September Fair is now in its 33rd edition and continues to be supported by industry players. Exhibitors and buyers acknowledge that the fair is an effective channel to tap into the Asian market, including the Chinese mainland and Hong Kong markets. Buyers could find just about anything at the September Fair in terms of design and material – from simple silver pieces to luxurious diamond and gemstone creations. 

This year’s fair will be held September 16 - 20 at AsiaWorld-Expo and from September 18 - 22 at the Hong Kong Convention and Exhibition Centre. This year’s lineup features more than 3,700 exhibitors from 50 countries and regions in more than 135,000 square meters of exhibition space. AWE will display jewelry raw materials from around 1,700 local and overseas exhibitors, while HKCEC will showcase fine finished jewelry from about 2,000 international fine jewelry exhibitors. 

About 60,000 visitors are expected to attend from all over the world. 

For the first time there will be exhibitors from Latvia, Myanmar and Qatar, a “Bridal Jewellery Pavilion” and a South Africa Pavilion. This brings the total of group pavilions to 23 at both venues.

The Alrosa Group, Russia’s leading diamond company and the world’s biggest diamond miner by volume, will host its diamond auction at AWE. Meanwhile, the Paspaley Pearl Auction and Robert Wan Tahiti Perles Auction will be held in conjunction with the fair in HKCEC. The fair will again feature the world’s largest diamond pavilion, Asia’s biggest gemstone marketplace and the biggest display of Hong Kong jewelry in the world. 

Welcome receptions will be held at AWE on September 16 and at the HKCEC September 18. 

The fair is free and open to jewelry trade professionals and members of the press. Visitors under 18 will not be admitted.

Visitor pre-registration is available at this link. Registration/en until September 2. The Fair Mobile App is now available for download by following this link.

UBM Asia will organize free continuous shuttle bus service running directly between the HKCEC and AWE. For more information follow this link.  

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LAGOS Adds Black Ceramic Beads To Caviar Collection

The iconic Caviar collection by the LAGOS jewelry brand has been given an update with new color and materials.

The Black Caviar collection of bracelets and chains features sculptural and smooth ceramic “Caviar” beads adorned with 18k gold and brilliant diamonds. The launch of this newest line signifies a reinterpretation of the Philadelphia-based brand’s Caviar design created nearly 40 years ago by Steven Lagos, founder and creative director of LAGOS. 

“I like to experiment with texture, scale and colors beyond silver and gold. I love the smooth finish of ceramic and the color choices it offers,” Lagos said. “Ceramic widened the design scope for us in many ways.

Lagos went on to say that it took three years to actually bring the design to a finished product because it required a new fabrication process. While this new process may have been time consuming, it provided opportunities to improve upon other aspects of the product, such as the LAGOS bracelet clasp. 

“It is now more curvy and feminine, and an overall better fit for the wrist,” he said.

It’s being sold as a collector’s piece, Lagos said, meant to be paired with 18k gold, diamond and sterling silver Caviar pieces.

“I want her to see the Black Caviar bracelet as the missing statement from her wrist—a ‘uniform’ piece, not a ‘trend’ piece,” he said. 

Black Caviar will launch September 1 on LAGOS.com, Neiman Marcus and all retailers that carry LAGOS jewelry. Pieces run from $450 to $6,000.

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Phillips Appoints Sam Hines International Head of Watches

Prominent watch specialist and authority, Sam Hines, has been named International Head of Watches for Phillips auction house. 

The international auction house recently established its watch department with Aurel Bacs and Livia Russo as its senior consultants. Phillips held its first watch auction since the early 2000s in May and reportedly doubled the total amount taken in by its closest rival during the week of horological auctions in Geneva.

While the watch department is based in Geneva, Hines will be heading Phillips’ global watch team from its recently opened Asian Headquarters in the Landmark Building in Hong Kong. The auction house also has watch specialists in London and New York.

Hines will work with Phillips’ watch team on the contents of the auctions in the fall season, including the November 8 sale in Geneva and the auction house’s inaugural Hong Kong sale on December 1. 

With 20 years experience in the auction world, Hines has held executive positions in New York and in Asia since 2008, spearheading many ground-breaking sales of important watches. In 2013 he was appointed International co-head of Christie’s watches department. Hines worked under Bacs at Christie’s. 

Highlights from Hines’ career include the discovery and sale of two previously unknown pocket watches from the third generation of James Ward Packard, achieving $2.7 million at auction in 2011, as well as curating the sale of Asia’s most expensive horological object; a pair of Singing Bird Pistols that sold for $5.8 million. He is also responsible for numerous auction records, including the sale of the only known Patek Philippe Star Caliber 2000 for $3.5 million, a Rolex cloisonné enamel wristwatch for $1 million and two sets of the Patek Philippe reference 5004 for $3.75 million.

“Sam has pushed the boundaries of watch collecting, expanding the awareness of the watch market to a vast network of established and emerging collectors. He has built his career on forming long term relationships with many of the world's watch collecting elite,” said Edward Dolman, chairman and CEO, Phillips.

“I proudly welcome my dear friend, Sam Hines. Sam has, without a doubt, the trust of the world’s key collectors and trade thanks to his unrivalled expertise, honesty, transparency and integrity. He is an important advisor to elite collectors, especially in Asia,” added Aurel Bacs, senior consultant, Bacs & Russo.

Hines was born in London and lives in Hong Kong with his wife and two daughters. He studied political science at New York University.

With Hines’ appointment, Phillip’s International Team of Watch Specialists now consists of:

Aurel Bacs and Livia Russo, senior consultants, Geneva

Nathalie Monbaron, business development Director, Geneva

Virginie Liatard-Roessli, department manager,Geneva

Paul Maudsley, international specialist, director of the London Watches Department, London

Kate Lacey, specialist, London
Paul Boutros, consultant and international strategy adviser, New York
Leigh Zagoory, cataloguer and junior specialist, New York
Jill Chen, business development director, Hong Kong 

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Bulgari’s High Jewelry Collection Interprets Italian Gardens

The “Blue Iridescence” necklace is made of eight rare blue sapphires (187.48 total carats), acquired by Bulgari in various parts of the world and kept by the luxury jeweler for years.

Lots of color and sparkle combined with detailed geometric shapes, romantic themes and blooming flowers are among the hallmarks of Bulgari’s new high jewelry collection. 

The Italian luxury house took to interpreting the structured serenity of Italian gardens of the Renaissance period with its Italian Gardens collection of 100 one-of-a-kind pieces. 

Bulgari has a long history of interpreting the dialogue between art and nature in its jewels. But usually the theme is based on nature in its wildest form, most notably displayed in its iconic serpenti design. This is a bit different but the trademark Bulgari craftsmanship, design and use of colorful gems remain the same. 

For example, the “Hidden Treasures” earrings (pictured above), inspired by the geometric designs of sculpted evergreens, consist of two fancy cut Zambian emeralds for each jewel. The four stones together weigh 143.1 carats. They were extracted from a single 400-carat rough stone. The company says the cut enhances the brightness of the gems. Each stone is gently embraced with platinum claws set with 8.40 carats of diamonds. Between each pair of emeralds is a brilliant cut diamond. 

Rare blue sapphires, acquired by Bulgari in various parts of the world and kept by the luxury jeweler for years, make up the “Blue Iridescence” necklace (top photo). The eight sapphires, which total 187.48 carats, maintain their shimmering blue hue even in the dark, according to the jewelry house. Seven of the sapphires are offset with seven pink spinels totaling 81.13 carats. The eighth sapphire is used for the clasp. Completing the necklace is a tight, geometric pattern made of 18k gold and paved with diamonds. 

Diamonds also play an important role in this collection. “Spring Encounter” (pictured above), inspired by the “Allegory of Spring” by Sandro Botticelli, describes the eternal rebirth of nature. Bulgari says it also refers to its past, recalling a necklace from 1969 in yellow gold with pearls, coral and diamonds. While romantic and beautiful, this necklace also showcases the skill of Bulgari’s craftsmen. Brilliant-cut diamonds are placed in the centre of 16 flowers. Each flower vibrates as the necklace moves. The delicate 18k gold petals of each flower are paved with diamonds. 

One of the most colorful pieces in the collection is the “Secret Garden” necklace (pictured above), designed to replicate the intimate, hidden areas in Italian Renaissance gardens. The luxury jeweler said the necklace is crafted to give volume and movement to the gems, again, showcasing Bulgari’s craftsmanship and originality. Rubellite, tanzanite, citrine, amethyst and aquamarine receive a special fancy cut to appear like petals. They are set in delicate claws and combined so each flower is made up of four multi-colored petals. The flowers and other gems hang from a rounded, serpenti-like neck chain made of 18k yellow gold. 

Bulgari’s “Water Symphony” necklace (pictured above) uses sapphires, white gold and diamonds. The necklace, which converts into a bracelet, features two cushion-shaped blue sapphires. One is 45.57 carats offset by a 3.65-carat sapphire. The large sapphire is mounted in ribbon-shaped 18k white gold set with baguette diamonds. The large gem also is framed with pear-shaped diamonds. The same theme is repeated in the chain with the addition of round brilliant diamonds. 

Two “Sparkling Hearts” necklaces (pictured above with emeralds) are paved in diamonds set in white gold. These necklaces, which convert into brooches, also are among the pieces that most reflect the geometric designs of flowerbeds and hedges in Renaissance era Italian gardens. For the central pendant, hearts of brilliant white diamonds are formed within curved geometric lines. Meanwhile, interpretations of blooming flowers and drops of water are recreated with pavé diamond and brilliant cut diamonds are on white gold chains that dangle from the central pendant. The theme is repeated on the neck chain. Versions of this necklace are sprinkled with either emeralds or rubies.

The collection also includes four high jewelry watches called “Geometry of Time.” Mother-of-pearl and coral are blended with a variety of gems, including sapphires and emeralds, amethysts and rubellites, again forming colorful geometric patterns.

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‘Jade Lady’ Mimi Ou Yang To Receive JNA Lifetime Achievement Award

Mimi Ou Yang

Jewellery News Asia has announced that Professor Mimi Ou Yang—affectionately known as “The Jade Lady”—will be honored with the prestigious Lifetime Achievement Award at the fourth annual JNA Awards. Ou Yang is an internationally renowned gemologist, mineralogist and jade expert who founded the Hong Kong Gems Laboratory and H.K. Institute of Gemmology.

“With her inquisitive mind, dedication and hard work, she has made the jadeite trade more transparent, promoted high ethical standards among industry practitioners, inspired consumer confidence, and contributed to cementing the jadeite sector’s status in the international market,” said Letitia Chow, chair of the JNA Awards Judging Panel. “Professor Ou Yang exemplifies the true values of what JNA Awards promotes.”

Since 1978, Ou Yang has devoted herself to the academic research of Fei Cui Jade. For years, she travelled to Myanmar’s mining areas, collecting and studying jade samples. In 1983, she was the first to discover a terrestrial source of Ureyite while doing her research on Burmese jadeite jade. This stood out as her proudest accomplishment. Her unprecedented discovery sent shockwaves through the field of mineralogy and firmly established her academic standing as a mineralogist.

In addition to her contributions to academic research, Ou Yang played a significant role in the development of the jadeite jade market. In the early 1980s, the emergence of artificially treated and dyed jadeite jade led Ou Yang to pioneer the classification system of Fei Cui Jade treatment (“A type,” “B type,” “C type” and “B+C type”) and introduce the earliest use of Infrared Spectroscopy for B Type jadeite jade identification. In addition, she proposed a systematic approach—4C2T1V principle—for quality evaluation of Fei Cui Jade, which is now commonly used by jewelry companies and auction houses.

Ou Yang has dedicated her life to spreading jade knowledge and promoting the status and recognition of Fei Cui Jade as a precious gemstone in the international market. Her accomplishments included creating the term “Fei Cui Jade,” which significantly improved the understanding of Fei Cui Jade and the trade’s reputation among consumers.

Ou Yang also is an educator who trained and nurtured countless numbers of jewelry talents through the development of a Fei Cui Jade program and her publications.

“It is my deepest honour to be the recipient of JNA’s Lifetime Achievement Award,” Ou Yang said. “The path to becoming a Fei Cui Jade scholar was not an easy one. I am thrilled to finally receive recognition from the industry following years of hard work and perseverance. This award, while giving me tremendous pleasure, also serves as an inspiration to all the other scholars to continually serve the industry with their professional knowledge and expertise.”

Ou Yang will receive the award during the the JNA Awards 2015 Ceremony and Gala Dinner, which will be held September 20, at the Regal Airport Hotel Hong Kong.

JNA Awards 2015 is led by Rio Tinto Diamonds and Chow Tai Fook as Headline Partners, with Diarough Group, Gübelin Group, Israel Diamond Institute Group of Companies, Shanghai Diamond Exchange, and Guangdong Land Holdings Limited as Honoured Partners. 

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