GemFind Weekly Newsletter July 25, 2017

July 25, 2017

GemFind Weekly Newsletter July 25, 2017

July 25, 2017 Alex
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  How Technology is Changing the Jewelry Industry   

It’s no longer a secret that technology is changing the jewelry industry. Whether it involves web design, search tools, cloud solutions or e-commerce platforms, online jewelers are increasingly becoming more empowered by new web applications. As a recent example, Tiffany & Co. teamed up with Net-A-Porter in 2016 as its e-commerce partner to expand its reach from 13 to 170 countries. Here are other compelling ways that technology is changing the jewelry industry. Read More 

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US Jewelry Business Closures Slow in 1H
Diamonds.net                    July 23

The rate at which the US jewelry industry is shrinking slowed in the first half of 2017, as the number of businesses that closed dropped by 34% to 553, according to the Jewelers Board of Trade (JBT). “The decline in the number of companies ceasing operations was spread through all regions of the United States, with the Northeast seeing the 

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Blue Nile Plans To Open Its Sixth Webroom, To Cater To Boston Metro Area
IDEX                           July 24

Online jeweler Blue Nile plans to open its sixth so-called Webroom in the Mall at Rockingham Park in Salem, New Hampshire this coming fall aimed at serving the Boston metropolitan area.Its Webrooms are essentially display locations with a retail setting so that consumers can see hundreds of goods available for sale which can then be ordered on a PC, by smartphone or via a tablet.

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THE HIGH VOLATILITY OF THE DIAMOND INDUSTRY

The Israeli Diamond Industry              July 25

In a recent piece titled “Quarterly Recap of Rough Diamond Prices Since the Global Financial Crisis”, diamond analyst Paul Zimnisky analyzes the prices of rough diamonds since 2007.  According to the piece, the global financial crisis, which unfolded in 2007, did not impact rough diamond prices. 

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AGS Sustaining Firm Member Spotlight: GemFind

For over 18 years, GemFind has provided web technology solutions to the jewelry industry. They have been a member of the American Gem Society (AGS) since 2003, partnering with a significant number of their fellow AGS members, assisting them with their online presence and marketing. After selling his computer software development company, the founder and CEO of GemFind, Alex Fetanat, began importing emeralds from Colombia. By the late 90s, he saw the need for technology in the jewelry industry. Since then, GemFind has developed a multitude of apps and tools to help the industry stay competitive in this digital age. 

 

Suspects Arrested Attempting to Steal Sarine’s Diamond Tech IP
The Diamond Loupe  July 24

Sarine, a developer of technologies for the diamond industry, stated in a press release that two Indian suspects were arrested in Tel Aviv on suspicion of attempted theft of Sarine’s Intellectual Property. The two were arrested during a meeting in which US$100,000 in cash was handed over as 

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Bulgari’s High Jewelry Collection Is A Colorful Italian Celebration

The Jewelry News Network   July 21

The Italian luxury brand, Bulgari, known nearly as much for presenting a lavish lifestyle as for its luxurious jewels, has put together a collection of more than 100 colorful jewels and watches that represents the diversity of Italian celebrations. 

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Here Are the Winners of the 2017 WJA Awards
National Jeweler         July 25

The Women’s Jewelry Association honored a number of jewelry industry leaders at its annual Awards for Excellence gala, held Monday night at Chelsea Piers in New York. The first award of the night, for Design, went to Wendy Brandes, who thanked those who helped her launch her second career

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Jewellery’s Naughty Little Secret: Treated Gemstones

Gemstone.org              July 20 

“Here in the US, if it’s pretty, it sells,” says Gary Roskin, executive director of the International Colored Gemstone  Association.  Processes like heating gemstones to enhance their colour are so common that “no-one is really concerned,” he adds, but

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Kenneth Jay Lane, Jewelry Designer Who Made a Fortune Faking It, Dies at 85  
The New York Times  July 20
He came to be regarded as the first American jewelry designer to make it not only acceptable but also chic to wear fake jewelry, and in reaching that plateau he transformed himself into a high-society, jet-setting businessman with a lifestyle that was anything but cheap. 

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Flont Is Changing How to Buy Fine Jewelry Online
 Forbes  July 23
Historically, the world of fine jewelry has been regarded as a members-only club that prided itself on being exclusive and restricting acceptance into its fortified confines to those with stature and oodles of money. Opening the doors to the masses, so to speak, is Flont, a new fine jewelry e-commerce site that is joining the luxury-on-loan bandwagon 

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