News
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Aug- 2020 -3 August
Loans boost announced for independent retailers
More coronavirus support loans are to be made available to independent retailers following a change to state aid rules. Changes to the rules mean that more small businesses can now benefit from loans of up to £5 million under the Coronavirus Business Interruption Loan Scheme (CBILS). Previously businesses which were…
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Jul- 2020 -31 July
Gem Diamonds sales rise in H1
Gem Diamonds has announced that it generated $29.4m (£22.3m) in its half-year results, after 16 diamonds sold for more than $1m (£760,000) each. This marked a rise against the 12 diamonds that sold for $26.6m (£20.2m) collectively in the first half of 2019. During the period, the average price of…
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31 July
William and Son enters administration
William and Son, a Mayfair-based jeweller, has fallen into administration. Damian Webb and Phillip Sykes of RSM Restructuring Advisory LLP were appointed joint administrators of the business on 10 July 2020, the jeweller has revealed. In a statement, the jewellers confirmed the “affairs, business and property of the company are…
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31 July
Theo Fennell unveils award winners
Theo Fennell has announced the two winners of its annual Central St Martins award show. The event marks the 12th year the jeweller has sponsored the BA design show, and presented the annual awards. Two students have now been awarded in two categories set by Theo Fennell, in Best Design…
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30 July
De Beers jobs at risk following poor sales
De Beers has announced that total revenue plummeted 54% to $1.2bn (£920m) in its half-year results, with rough diamond sales falling to $1bn (£767m), down from the $2.3bn (£1.76bn) reported the year prior. In light of the damaged performance, CEO Bruce Cleaver told Reuters that the group would “likely” proceed…
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30 July
New grants to be made available for small businesses
Grants totalling £20m are to be made available to small businesses, the government announced today (July 30). Thousands of smaller businesses in England are set to benefit from the new government funding to help them recover from the effects of the coronavirus pandemic. Small and medium sized businesses will have…
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30 July
Christie’s jewels auction totals $28m
Christie’s has announced that its Magnificent Jewels auction totalled $28m (£21.6m), with 87% sold by value and 83% sold by lot. The auction, which took place in New York City on 29 July, had global participation with clients registered from 34 countries. A diamond necklace suspending a pear-shaped diamond was…
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30 July
The Diamond Club of Antwerp unveils new board
The Diamond Club of Antwerp announced it has reelected Thierry Polakiewicz as its president. Alongside its latest announcement, the group also unveiled the 13 other officers and board members appointed across the group. Philippe Barsamian will serve as vice president below Polakiewicz, while Koen Smets and Michaël Suchowolski will act…
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29 July
JGW organisers praise GemGenève ‘solidarity’
Jewellery and Gem World Hong Kong (JGW) organisers have praised Gemexpo SA’s decision to move GemGenève’s fair dates to 1 November – 4 November, in a bid to ensure the two industry events do not overlap. Informa Markets Jewellery said the rescheduling would allow both events to maximise business opportunities…
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29 July
Sale price still main driver for jewellery purchases, NAJ finds
The National Association of Jewellers (NAJ) has published its latest consumer research on the role of jewellery in the lives of UK customers, and found that price is still one of the key themes behind a purchase. The Association’s first report profiled 2,500 consumers, and is one of the largest…
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