News

Birmingham gold bangle scam trio jailed

Three jewellers who falsely claimed that sets of gold bangles they manufactured and sold were made from higher quality gold have been jailed for a total of 14 years. Ibrar Hussain, 38, and Sabhia Shaheen, 40, of Shiza Jewellers, based at 681 Stratford Road, together with 47-year-old Mohammed Afsar, known…

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Holts Gems reveals joint venture with Hearts of London Group

Holts Gems, one of the oldest jewellers in Hatton Garden, is launching a joint venture with diamond specialists Hearts of London Group, focusing on the growing demand for coloured gemstones in personal and bespoke fine jewellery. The new retail business will launch in the first quarter of 2019 under the…

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Pandora reduces FY expectations amid ‘unsatisfactory Q3’

Pandora has reduced its full-year expectations after experiencing an “unsatisfactory” third quarter in 2018. In Q3 group revenue decreased 3% in local currency due to “timing of shipments, change of inventory levels in the wholesale channel and negative total like-for-like”. Revenue from its estore increased 52% in local currency, up…

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World Gold Council reports 6% increase in jewellery demand for Q3 2018

Jewellery demand in Q3 of 2018 saw price-led year-on-year growth of 6%, as lower gold prices during July and August encouraged bargain hunting among “price-sensitive consumers”. According to the latest report by the World Gold Council, growth in India and China was up 10% in each region, outweighed weakness in…

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Cheffins holds East Anglia’s first dedicated jewellery, silver and watches sale

Cambridge-based Fine Art Auctioneers, Cheffins, hosted the region’s first ever dedicated sale for jewellery, silver and watches on the 25 October 2018 with over 450 items sold. Nearly 85% of the jewellery lots on offer were sold, with many at prices far exceeding presale estimates. The highlight was a sapphire…

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Gemfields uncovers 5,655 carat ‘lion emerald’

Gemfields has uncovered a 5,655 carat Zambian emerald crystal with “remarkable clarity and a perfectly balanced golden green hue”, which has been named ‘Inkalamu’ – the Lion. The gem was discovered at Kagem, Zambia, the world’s largest emerald mine, which is 75% owned by Gemfields and 25% by the Industrial…

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Alrosa partners with De Beers to pilot Tracr programme

Tracr, the end-to-end diamond industry blockchain traceability platform being developed by De Beers Group has announced that Alrosa has joined the platform’s pilot programme. Alrosa will join industry leaders from the diamond manufacturing and retail sectors in creating the blockchain platform. Following the announcement of the Tracr pilot earlier this…

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Autumn Budget 2018: Business rates cut for SMEs and new digital services tax

Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…

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Trollbeads launches new ‘Stardust’ winter 2018 collection

Jewellery retailer Trollbeads has launched its new Winter 2018 Collection called ‘Stardust’, inspired by the “loving and joyful atmosphere” of the festive season. According to the group “hearts, stars and sparkling golden shades invite you to enjoy the upcoming season”, and the collection features 15 new pieces designed by Lise…

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Alrosa pilots GIA’s M2M programme

GIA (Gemological Institute of America) has announced that Alrosa, the world’s largest producer of rough diamonds, is piloting the Institute’s M2M program. M2M is a digital platform that brings together GIA’s ability to scientifically match rough diamonds to the resulting polished gems with information from each step in the value…

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