News
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Jan- 2017 -3 January
Diamond prices decline in December amid ‘India liquidity crisis’
Polished diamond prices softened in December as Indian liquidity dried up due to the government’s demonetisation policy, which eliminated 500 and 1,000 rupee notes. The RapNet Diamond Index (RAPI), from the Rapaport Group, found the price of 1-carat, GIA-graded, polished diamonds fell 1.3% during the month, while 3-carat diamonds and…
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Dec- 2016 -20 December
Barnsley jewellers ‘forced’ to close in the New Year due to demolition plans
A family-owned jewellery store in Barnsley is set to close its doors in the New Year following plans to demolish parts of the town centre. Some retailers have told the BBC that they have had to close their businesses due to a “lack of council support” in relation to the…
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16 December
Online spend to hit £805m on Christmas Day
Online retail sales on Christmas Day are set to rise more than 10% compared with the same day last year, according to new research. Data from the trade association for e-commerce, IMRG, found online retail sales in the UK on Christmas Day will reach £805m – a 10.1% increase on…
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14 December
VIDEO: Wongs Jewellers ‘to make a stand’ and give staff Boxing Day off
The boss of Liverpool-based Wongs Jewellers has announced the store will close for business on Boxing Day, giving his staff extra time with their families. Peter Wong, managing director, shared a video on Facebook saying he wanted to make a stand about workers deserving time with their families. He said…
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14 December
Harrods to present one of world’s ‘rarest diamonds’
Luxury department store Harrods has unveiled what it claims is one of the world’s rarest diamonds. The 228.31-carat gem is referred by its owner – who chose to remain anonymous – as the ‘Harrods Diamond’ and has been kept secret in the Knightsbridge store’s safe deposit until now. The pear-shaped…
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14 December
Winsor Bishop eyes expansion with opening of new Cambridge store
Independent jewellery retailer Winsor Bishop has expanded its portfolio with the opening of its new store in Cambridge. The company’s second store – located on the city’s Trinity Street – cost £1m to set up, including a full refurbishment and the connection of two stores internally. It also includes a…
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13 December
Goldsmiths launch Rolex lounge at Liverpool One store
Jewellery retail chain Goldsmiths has announced the opening of a Rolex lounge at its showroom in Liverpool’s shopping complex, Liverpool One. The recently re-designed store on Paradise Street has undergone a refurbishment, temporarily closing and reopening in November. This was ahead of the new Rolex room, which has now opened…
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13 December
De Beers rough diamond sales ‘significantly higher’ than last year
De Beers has reported “significantly higher” sales of rough diamonds in its tenth sales cycle of the year, when compared with last year. Provisional sales including global sightholder sales and auction sales stood at $418m (£328m). This was up from the $248m (£195m) recorded last year, although is slightly down…
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12 December
Footfall falls in November despite Black Friday sales
Retail footfall decline 1% in November compared with the same month last year, despite the popular Black Friday discounting event on 25 November. The latest monthly Footfall and Vacancies Monitor from the British Retail Consortium (BRC) and Springboard found the decline was a deepening of the 0.9% fall in October…
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12 December
Beaverbrooks posts strong full-year financial results
Beaverbrooks has posted strong full-year results, which saw operating profit before distribution and tax rise to £15.2m – up from £14.3m the previous year. During the 52 weeks ending 27 February 2016, the jewellery chain’s annual report and financial statements published on Companies House showed a 5% increase in turnover…
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