Jewellery and watch profits soar 53% for LVMH

The Jewellery and Watch division of luxury products group LVMH has reported a 53% profit jump in 2015. The company’s jewellery division saw revenue jump from €2.78bn (£2.13bn) in 2014 to €3.31bn (£2.154bn) in 2015, an increase of 19%. Organic revenue growth was 8%, meaning the group benefitted from exchange…

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Gem-A seeks new chief executive

The Gemmological Association of Great Britain (Gem-A) has announced it is seeking a new chief executive to spearhead its growth. The association said the successful applicant will have “proven management skills and a high level of experience” in gemmology or a closely related field. The chief executive will oversee the…

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Swatch Group reports 21% profit fall in 2015

Swatch Group has reported annual profits of 1.12bn Swiss francs (£761m) in 2015, a 21% fall when compared with the previous year. The company, which owns brands such as Calvin Klein, Blancpain, Tissot, Longines, Omega and Breguet, said the decline in profits was due to the “strong negative impact of…

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Guildsman Jewellery Gallery to open in Birmingham’s Jewellery Quarter

A new jewellery gallery has announced it will launch in Birmingham’s historic Jewellery Quarter later this year. The Guildsman Jewellery Gallery is expected to open in spring 2016 and will provide 1,000 sq ft of retail and exhibition space across two floors. It will display pieces of handmade fine jewellery…

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Shop prices fall 1.8% in January

Overall shop prices in the UK fell 1.8% in January compared with the same month last year, new figures figures show. That’s according to British Retail Consortium (BRC) and Nielsen’s monthly Shop Price Index, which found the fall was down from the 2% fall in December and in-line with the…

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Polished diamond prices rise for third consecutive month

Prices of polished diamonds have continued to rise in January as shortages continued to support the market, which also saw a boost from the holiday season. That is according to the latest RapNet Diamond Index (RAPI) which found the price of 1-carat, GIA-graded diamonds rose 0.9% during the month. RAPI…

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Jeweller joins crowdfunding campaign to help flood victims

A West Yorkshire jeweller has joined a crowdfunding initiative to help raise money for local businesses in Calder Valley, which were affected by the Boxing Day floods. Element Jewellery is supporting the ‘Calderdale Rising’ campaign, launched on Friday 15 January, and has been trending as the most popular campaign on…

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Retail growth steady but expected to slow next month

Retail sales were steady over the year to January beating retailers’ expectations of a slight slowdown, according new data from the Confederation of British Industry (CBI). The organisation’s latest monthly Distributive Trends Survey of 126 companies found that 41% of retailers said that sales volumes were up in January on…

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Unseasonable weather damages independent retail sales in Q4

A “dramatic reversal of fortunes” in the last three months of 2015 has brought an end to an 18 month run of turnover growth for independent retailers. The British Independent Retailers Association’s (BIRA) Sales Monitor for the fourth quarter of 2015 found unseasonably warm and wet weather, falling footfall, falling…

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Edinburgh Assay Office celebrates one year of Heathrow sub office

The Edinburgh Assay Office is celebrating its first full year of operating a sub office at Heathrow Airport. The Hallmarking in Transit (HIT) service, which launched in January last year, was developed to streamline the supply chain for gold and gem set importers. It allows importers of precious metal jewellery…

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