News
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Aug- 2023 -8 August
Pandora sees profits fall amid increased costs
Pandora has reported that its overall profits declined to £44.1m in FY22, down from £57.6m in FY21, according to the latest accounts filed with Companies House for the year ended 31 December 2022. Overall profits decreased as a result of rising costs which increased to £268m in FY22 (2021: £240.1m).…
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8 August
Retail sales growth slows in July amid heavy rain
The UK’s total retail sales increased by 1.5% in the four weeks to 29 July, against the 2.3% growth experienced in the same month last year. This was below the three-month average growth of 3.5% and the 12-month average growth of 3.9%, according to BRC data. This lacklustre growth in…
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8 August
International Gemological Institute appoints new global CEO
International Gemological Institute (IGI), a Blackstone portfolio company, has announced the appointment of Tehmasp Printer as its new global CEO, effective 1 October 2023. The news comes after Roland Lorie, current CEO, decided to step down after spending nearly five decades building the “largest” network of gemological laboratories and schools…
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7 August
Seol and Gold launches its third drop of vintage rings
Seol and Gold has announced the launch of its third drop of vintage rings. According to Seol and Gold, the rings in the new collection have been stored in their original condition and have never made it to the market. Additionally, these vintage deadstock rings represent the 80’s and 90’s…
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7 August
Gembridge online catalogue hits $100m GMV
Gembridge has announced that the value of gemstones and jewellery listed in its online catalogue has hit $100m for the first time. Luxury continues to be one of the fastest growing segments in the global ecommerce market and the largest sellers on Gembridge now upload over $1m of stock at…
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4 August
Geoffrey Good launches bespoke services
Fine jeweller Geoffrey Good has announced the launch of a new bespoke service. As part of the service the jeweller will be offering both in person and virtual services to help customers find the right piece. The jeweller will utilise high carat gold, platinum and responsibly sourced coloured gemstones and…
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4 August
The Alkemistry launches new Boba collection
London-based fine jewellery brand, The Alkemistry, has just launched its new beaded Boba collection. The new range is inspired by the “Taiwanese craze”, Boba Tea. Designed and developed by its in-house female apprentices, the collection of bracelets, necklaces, anklets and earrings combine contrasting sized semi-precious gemstones and recycled 18ct gold.…
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3 August
Lylie Jewellery launches e-waste recycling initiative
Lylie Jewellery has announced the launch of Closed Loop Club, an e-waste recycling initiative. The campaign is designed to encourage consumers to recycle their unused and defunct electricals in exchange for brand credit. Customers must find their closest recycling centre and to take any old electrical devices with them to…
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3 August
Georgini Jewellery announces UK return
Georgini Jewellery has announced its return to the United Kingdom. According to Georgini, its launch in the UK marks “a milestone in the brand’s journey, with a vision to become a beloved and cherished name within the British jewellery landscape”. Established 19 years ago, Its jewellery range includes rings, bracelets,…
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3 August
BoE raises interest rates to 5.25%
The Bank of England (BoE) has raised interest rates for the 14th consecutive time to 5.25% in a bid to combat inflation. The bank’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target. At its meeting ending on 2 August 2023, the MPC voted by a…
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