News
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Jan- 2018 -19 January
December 2017 sees retail sales slump
The Office for National Statistics (ONS) has revealed that December 2017 had the weakest retail sales in over four years. The quantity of items bought in December decreased by 1.5% when compared with the stronger sales in November 2017. Although retail sales increased by 1.3% in December compared with the…
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19 January
Tiffany & Co sees sales festive sales increase
New York based jeweller Tiffany & Co has reported a strong performance over the festive period as sales increased worldwide. Net sales increased by 8% over the two month period ending December 31 2017 taking the total to £720m. Comparable sales also rose by 5%. Tiffany & Co attributed the…
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18 January
Jewellers warned the Darwin £10 note is almost extinct
The Bank of England has warned that it will withdraw legal tender status of the paper £10 note featuring Charles Darwin at 23:59 on Thursday 1 March 2018. With six weeks to go, all jewellers that handle cash need to plan and prepare for the change. After the deadline, businesses…
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18 January
Holts Gems founder Robert Holt dies at 94
The founder and a director of Holts Gems, Robert Holt, has passed away aged 95 while holidaying with family. The eponymous fine jewellery store was established in 1948 by Holt when he was a pre-war Jewish refugee from Vienna. A spokesperson said: “On 11th January, Mr Robert Acker Holt, founder…
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17 January
Hallmarking figures drop by 7.4% for December
Hallmarking fell by an average of 7.4% in December 2017 compared to the same period in the previous year, according to figures compiled by the Birmingham Assay Office. The average volume of gold hallmarked in December fell by 6.9% to 322,033 compared with 346,082 the previous year. Silver fell by…
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17 January
Gem Diamonds recovers ‘exceptional quality’ diamond
Gem Diamonds has recovered an 910-carat diamond from its Letšeng mine in Lesotho, South Africa. It is the largest diamond ever recovered from the mine and the fifth largest gem-quality diamond ever recovered by the company. Clifford Elphick, Gem Diamonds CEO, said: “Since Gem Diamonds acquired Letšeng in 2006,…
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16 January
Weston Beamor reaffirms ‘Ethical Jewellery business of the Year’ title
The ‘Ethical Jewellery Business of the Year’ award winner, Weston Beamor, has continued its good work with every member of its customer team becoming a Fairtrade Gold Sales Ambassador. Each member of the 12-strong customer facing team at Weston Beamor has successfully completed the Fairtrade Foundation’s online ‘Fairtrade Gold Sales…
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16 January
De Beers launches diamond blockchain pilot
De Beers Group has launched a pilot that uses blockchain technology to provide a tamper-proof and permanent digital record for diamonds registered on the platform. Following the success of an initial proof of concept trial, which resulted in a working prototype, a pilot is now underway involving a small number…
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15 January
High street sees sharpest footfall decline in four years
New figures from the British Retail Consortium (BRC) and Springboard show footfall in the month of December suffered its sharpest decline since March 2013 Total UK retail footfall fell by 3.5% compared with December 2016, while the high street saw a sharper drop, down by 4.6%. Shopping centres suffered a…
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15 January
Israel Diamond Exchange announces diamond-based cryptocurrencies
The Israel Diamond Exchange (IDE) will unveil two new diamond-based cryptocurrencies at the next 2018 International Diamond Week in Israel (IDWI) Created by startup Carats.Io, the group will host a seminar introducing its new diamond-backed financial instruments and explain the benefits it could have for the diamond industry. Carats.Io will…
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