News
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Aug- 2022 -10 August
Heatwave helps boost retail sales 2.3% in July
Retail sales increased 2.3% in July as the heatwave experienced across the UK helped boost demand for “hot weather essentials”, according to the latest data from the BRC and KPMG retail sales monitor. UK retail sales increased 1.6% on a like-for-like basis from July 2021, when they had increased 4.7%.…
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10 August
So-Le Studio creative director to become Sotheby’s guest curator
So-Le Studio has announced a collaboration with Sotheby’s London, which will see creative director Maria Sole Ferragamo become the first guest curator of their auction series The Luxury Edit. The auction series will showcase a city-specific curated collection of luxury items, including jewellery, watches and spirits in London, New York…
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9 August
Signet Jewellers acquires Blue Nile
Signet Jewellers Limited has announced it has signed a definitive agreement to acquire Blue Nile, an online retailer of engagement rings and fine jewellery, for $360m (£297m) in an all cash transaction. The strategic acquisition of Blue Nile accelerates Signet’s efforts to expand its bridal offerings and grow its accessible…
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9 August
Bernhard H. Mayer unveils nature-inspired jewellery
Qnet’s luxury jewellery brand, Bernhard H. Mayer, has announced new nature-inspired jewellery pieces for its Classics, Elemental and Timeless Tanzanite collections. New pieces to the Classics Collection include Autumn earrings and an Autumn Pendant, featuring precious diamonds and handcrafted 18K gold leaf drops in a pattern inspired by seasonal transformation.…
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8 August
Hayes & Lake adds four new retailers
Hayes and Lake has announced it will go live in four new stores this week, bringing the number that carry the brand to 12. The new stores include John Baldwin Jewellers in Tavistock, Christopher George Jewellers in Cardiff, Francis and Gaye in Coventry, and David Summerfield Jewellers in Newcastle. Having…
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5 August
UK recession can be averted, claims Truss
In an interview with Sky News’s Kay Burley last night (4 August), foreign secretary Liz Truss claimed she could avert a recession if she wins the leadership contest. The claim comes after the Bank of England projected that the UK would enter a recession in this year’s fourth quarter, with…
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5 August
London Diamond Bourse launches Practical Diamond education course
The London Diamond Bourse (LDB) has launched its new education programme, the Practical Diamond Knowledge course, which marks the LDB’s first in-house training course. The Practical Diamond education course has been developed alongside polished diamond expert Craig Sievewright. The course is aimed at those buying or selling diamonds, and designed…
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4 August
Footfall declines in July as north-south divide grows
Footfall weakened in July to -14.2% below 2019 from -12.3% in June 2022 with the month’s performance also highlighting the growing divide between the north and south of the country, according to the latest data from Springboard. July saw a -17% decline compared with 2019 in high streets, a -18.6%…
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4 August
Andre Michael launches lab-grown diamond range
Andre Michael has introduced its first lab-grown diamond jewellery range for retailers in the UK and Ireland. The range comprises rings, earrings and pendants which are available in certified D/E/F- colour lab-grown diamonds in classic designs starting from 0.50cts. Much of the offering will be in larger sizes, differentiating from…
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4 August
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
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