Harry Winston May Purchase Second Canadian Diamond Mine

Ekati diamond mine. Photo credit: Jason Pineau, through Wikipedia

Harry Winston is in talks to purchase an important asset of BHP Billiton’s diamond business, according to published reports.

The Toronto-based company, which describes itself as a diamond enterprise with premium assets in the mining and retail segments of the diamond industry, has secured bank financing for a possible deal to buy the Ekati diamond mine in Northwest Territories of Canada, according to the Financial Times. However, the deal, which was to be completed by mid year is going slower than expected and could even break down.

Harry Winston, best known as a luxury jewelry and watch retailer, already owns a 40 percent share in the Diavik diamond mine in the same area with Rio Tinto, which owns a 60 percent stake.

Both BHP Billiton and Rio Tinto announced in November 2011 that they are looking to get out of the diamond business to focus on larger, more-profitable assets from their vast mining businesses.

It’s a complicated matter, according to the report, because if Rio Tinto agreed to sell Diavik to Harry Winston, it would make it more difficult for the mining giant to sell the rest of its diamond assets.

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Richemont Expects Huge Sales and Profits as Hard Luxuries Continue to Sparkle

Montblanc boutique in Hamburg. Photo credit: Anthony DeMarco

A luxury slowdown in China, a European economy under constant crisis, and sluggish growth in the U.S. has failed to slow the growth in the sale of “hard luxuries” (jewelry and watches). The latest example is Geneva-based Compagnie Financière Richemont, which issued a statement Monday saying that it expects first half profits to rise from 20 percent to 40 percent, year-over-year.

Richemont—whose brands include Cartier, Van Cleef & Arpels, Montblanc and Vacheron Constantin—was required to make this statement prior to its sales and profits reports for the first half of the year. SIX Swiss Exchange requires that issuers make an immediate announcement when “the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior-year period.”

In accordance with these requirements Richemont said that sales for the four months ended in July rose 24 percent on a reported basis and 13 percent on a constant-exchange basis. Based on these results, Richemont’s said its operating profit for the six months ending September 30 is likely to show an increase of between 20 percent and 40 percent compared to the first six months of the last financial year.  Net profit for the same period may also increase by 20 percent and 40 percent.

Richemont sales for the five months ending August 31 will be announced on September 5 first-half results for period ending September 30 will be announced November 9.

This is the latest in financial reports that are revealing the resiliency and strength in hard luxuries.

* In late July, Paris-based LVMH reported revenue growth of 26 percent, year-over-year to $16 billion for the first half of 2012. Group profit rose 28 percent to $2 billion. The luxury group, whose jewelry and watch brands include Tag Heuer, Hublot and Bulgari, acquired in June 2011, reported that total jewelry and watch sales rose 113 percent to $1.6 billion, with Bulgari's revenue now included. Organic growth was 13 percent.

* A few days earlier, Swatch Group, the world’s largest watch company, said its watch and jewelry sales for the first half of 2012 increased 16.7 percent to $3.42 billion, year-over-year. The company owns 19 watch and jewelry brands in all market segments, including Swatch, Breguet and Longines.

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Nicky Oppenheimer to be Honored at JNA Awards

Nicky Oppenheimer

Nicky Oppenheimer, chairman of De Beers Group, will be presented with a Lifetime Achievement Award from Jewellery News Asia honoring his significant contribution to the global diamond business, particularly in Asia. He will be feted at the JNA Awards ceremony, September 20, at The Ritz-Carlton, Hong Kong, during the September Hong Kong Jewellery & Gem Fair.

The JNA Awards is an industry event that honors and recognizes excellence and achievement in the jewelry trade. The event, the first of its kind in Asia, is organized by Jewellery News Asia of UBM Asia in collaboration with UBM Awards.

“His outstanding achievements with De Beers and the Diamond Trading Company have made him one of the key figures and leaders of the global diamond industry,” said Letitia Chow, founder of JNA and director of Business Development—Jewellery Group at UBM Asia, and the chair of the JNA Awards judging panel. “His inspired guidance and outstanding leadership, has significantly contributed to the development of the diamond jewelry markets in China and India—the twin growth engines in Asia.”

“Throughout my time in the diamond industry, I have been immensely proud to witness the growth of the consumer's love affair with diamonds, nowhere more so than in the exciting markets across Asia,” said Oppenheimer, who is leaving the diamond industry as he and his whose family is finalizing the sale of De Beers to their longtime partner, Anglo American.

In other JNA Awards news, the KARP Group, an international polished diamond manufacturer and marketer of polished diamonds and diamond jewelry, is serving as a partner of the JNA Awards

The shortlisted honorees for the first nine categories of the JNA Awards were announced in June. The Wonder of the World category, which is open only to AsiaWorld-Expo exhibitors during the September Hong Kong Jewellery & Gem Fair 2012, will be accepting entries until August 21.

The JNA Awards 2012 is a ticketed event by application only. Interested parties may submit their request by logging on to www.JNAawards.com.

Jewellery News Asia, first published in 1983, is the flagship magazine of UBM Asia's Jewelry Group.

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Royal Asscher Participates in HIV/AIDS Event Honoring Elton John and Hillary Clinton

Lita Asscher between Sharon Stone and Elton John.

Lita Asscher, America’s president of the Royal Asscher diamond company, was part of a star-studded event held July 23 in Washington, D.C., that honored U.S. Secretary of State Hillary Clinton and Elton John for their efforts battling HIV/AIDS worldwide.

Lita Asscher with U.S. Secretary of State Hillary Clinton.

The event, hosted by The Human Rights Campaign, was held to raise awareness for the Global Equality Fund, a U.S. State Department program, and the Elton John AIDS Foundation. Sharon Stone hosted the event held at a private residence in Georgetown.

Lita Asscher volunteered to have her personal one-of-a-kind Stars of Africa floating diamond ring auctioned to benefit the foundations. The ring, containing 0.60 carats of tiny diamonds floating inside a sapphire globe, sold for $16,000 among the crowd of bidders.

Stars of Africa ring that sold for $16,000.

“As a family and as a company we at Royal Asscher consider it of paramount importance to support important causes that benefit all of humanity,” she said.

Human Rights Campaign is a civil rights organization working to achieve equality for lesbian, gay, bisexual and transgender Americans.

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Montblanc Sponsors Young Directors in Salzburg Festival Competition

Tick Tock Productions of South Africa performs in the production of Trapped.

For the 11th consecutive year, Montblanc is involved in a theater competition for up-and-coming international directors and their ensembles, held during the annual Salzburg Festival.

Known as the “Young Directors Project,” it promotes “young, emerging theatre directors with innovative ideas who offer an unconventional approach to the questions of modern society.” Montblanc and Sven-Eric Bechtolf, director of Drama of the Salzburg Festival, invited a selection of theater ensembles from around the world, selected by a jury, to present their productions at the annual festival in Salzburg, Austria. 

The limited edition Hommage à Max Reinhardt fountain pen.

Montblanc covers all costs of bringing the groups to Salzburg as well as the awards and prize money. The ensemble and director with the most convincing performance will receive the Montblanc Young Directors Award, 10,000 euros ($12,180) in prize money and the Montblanc limited edition Hommage à Max Reinhardt fountain pen that is exclusively available during the Salzburg Summer Festival.

The crowd outside the theater during the opening night performance.

The project opened July 31 with the premiere of Trapped by Tick Tock Productions of South Africa. The project will run till August 26 and will feature four other performances:

* Jakob Michael Reinhold Lenz by Theater Montagnes Russes of Austria

* Éternelle Idole, and This is how you will disappear by Gisèle Vienne of France

* Hamlet Cantabile Performance Group by Tuida of South Korea 

Teri Hatcher, who attended the performance and the Montblanc premiere party, signs autographs.

Following the July 21 performance, Montblanc held a reception, followed by a premiere party in Salzburg. Guests came from all over the world and included actresses Teri Hatcher, Rosario Dawson and Sarah Marshall, designer Jean Claude Jitrois and actor Clemens Schick. 

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Piaget Produces Melody Gardot Video, 'La Vie En Rose'

Melody Gardot adorned in Piaget Rose Collection jewelry.

Grammy-nominated jazz singer, Melody Gardot, is a bit of an enigma and prodigy all rolled into a voice that has been often described as smooth, smoky and sultry. She seems to hum words and bend and roll melodic notes in a voice that is strong and elegant even when it is at a whisper.

The Philadelphia native’s remarkable story has been repeated in every article and appearance she’s ever made. At the age of 19 the bike she was riding was hit by a car and she suffered severe head and spinal injuries and a broken pelvis. Among her long-term problems are memory loss, hypersensitivity to light and loss of her sense of time. A piano player in bars prior to her accident, her doctor suggested music as therapy. She was bedridden for about year and taught herself guitar while lying on her back. She could no longer tolerate the louder music she played prior to her accident so she started writing quiet, traditional jazz songs.

Her stunning sophisticated bohemian look that is constantly changing adds to her mystique. She’s forced to walk with a cane and must wear sunglasses all the time. In many photo shoots and videos, these items serve as props.

Piaget Rose Collection ring.

Piaget tapped into this unusual elegance in song, spirit and appearance by making her the newest ambassador for the luxury watch and jewelry brand. Gardot is promoting the Piaget Rose Collection—a line of diamond jewelry inspired by the shape of a rose. It has a starting price of $1,900 but also includes diamond and precious stone pieces priced up to several hundred thousand of dollars.

Gardot recently released “The Absence,” and is on a worldwide tour promoting the CD as well as Piaget. As an added feature, The Geneva-based company produced an additional song and supporting video of Gardot singing "La Vie En Rose." It appears on a deluxe edition of the new CD. The video is below (After starting the video, please click on the full-screen box on the lower right corner to get the full effect of the video).



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$7.8 Million, 12-Carat Pink Diamond

Majestic Pink Diamond

A 12.27 fancy pink diamond is being offered by M.S. Rau Antiques in New Orleans. Known as the “Majestic Pink Diamond,” it has characteristics that are among the most desirable and rare in fancy colored diamonds, including VVS1, Type IIa designation.

Type IIa colored diamonds are among the most desirable by collectors because they rarely contain internal imperfections and are famous for their color. The VVS1 designation translates to “Very, Very Slightly Included,” denoting very high clarity—rare for a colored diamond of this size.

The cushion-cut diamond is mounted on an 18k rose gold and platinum ring. The asking price is $7.85 million.

The pink diamond ring will go on display online on the 1stdibs.com website beginning August 8. For those who like to view the diamond in person, it will be on display at the Baltimore Summer Antiques Show, August 23 – 26.

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