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Unlimited online entry to Ottawa Citizen and 15 news websites with one account. In the middle of the busy season for 2024, on Sept. 29, the business was hit with a devastating blow when a pair of thieves ransacked its jewelry Jewelery News room. A single piece of jewelry can be the important thing to someone’s misplaced id.

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What began as high-profile watch and jewelry manufacturers establishing ‘Flagship’ stores – purported to assist unbiased stockists – has, in some circumstances, morphed into full-on competitors. It examined, and measured, the number of jewelry shops in the main shopping centres in each state and, interestingly, found that jewellers accounted for a ‘standard’ five per cent of all specialty shops in main shopping centres. Reviewing the past 10–15 years – the primary of Jeweller’s analysis of jewelry chains was revealed in 2003 – many jewellers lamented the rise of, and competitors from, fashion jewellery. In 2010 Zamels was Australia’s third-largest jewelry chain with a hundred retail shops; nonetheless, by June 2020, a whopping 63 Zamels stores had closed. During the same interval The Jewellery Group additionally closed two single retailer ‘brands’, Vivien’s and Budgens. The ‘big boy’ of the Australian jewellery trade, James Pascoe Ltd , the owner of Prouds, Goldmark and Angus & Coote, remains the most important group, as it was in 2010.

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The Australian tradition of mateship and unity was strengthened through the pandemic. Bird identified this as an increase in orientation towards local businesses – consumers’ need to support their local people through local retailers. Digital communication and social media advertising were also a key focus for Mark Evans, of Mark Evans Fine Jewellery on the Sunshine Coast. “I have had quite a little bit of consultation with a neighborhood media agency relating to my online presence, with my business Instagram and Facebook pages – organising common posts, the type of the pictures and the content material needed to make it participating. I realise now I had turn into a bit complacent – being busy, I had not saved up with this facet of my enterprise,” he said. Hill emphasised the necessity to talk important info, corresponding to store opening hours, via digital channels that prospects use, in addition to to continue digital engagement activities such as webinars.

Ft shops have been expanded, or a dedicated floor for bridal jewelry with a lounge to enable customers to try jewellery with their wedding ceremony attire, or customer event areas, were added. India’s main corporate houses are eyeing the burgeoning Rs 6.4 lakh crore jewellery market. ABG’s Indriya might be taking over Tata’s Tanishq and Reliance Retail’s Reliance Jewels, alongside jewelry retailers like Kalyan Jewellers, Malabar, Joyalukkas and Senco. The group’s transfer is backed by a big investment of Rs 5,000 crore. Welcome to Vogue’s jewelry vacation spot, where our editors uncover hidden gems, jewelry tendencies, and the must-have bijoux of the season. Browse our buying articles and editors’ picks to find your subsequent heirloom in the making.

While GIVA has not disclosed the precise valuation from this round, the corporate confirmed that the funds were raised at a better valuation than earlier than. The capital infusion is aimed toward supporting GIVA’s expansion plans, notably its offline retail presence throughout India, strengthening its offerings in lab grown diamonds, and facilitating investor exits. Despite this, branded jewelry retailers similar to PC Jeweller are prone to see strong revenue and volume progress, pushed by aggressive retailer expansions, shifting shopper preferences, rising gold prices, and sustained demand throughout weddings and festivals.

In the past week, rival retailer Chow Tai Fook reported a 46 per cent improve in sales within the third quarter, which was attributed to the popularity of gold jewelry within the lead-up to the Chinese New Year . Same-store sales of gold jewelry elevated by 88 per cent in Hong Kong and Macau, while diamond jewelry improved by 25 per cent. In China, gold jewellery elevated by 23 per cent; however, sales of diamond jewelry decreased by 35 per cent.

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Its 1,006 ‘My Kalyan’ centres contributed to 15 per cent of domestic revenue and got over 37 per cent of enrolments to its ‘Purchase Advance Scheme’ during FY24. With rising prices, the demand for gold tends to decrease as consumers wait for a value correction. “Consumers don’t improve their budgets when gold costs rise,” says Joyalukkas’s George.

It is clear that, while still small, the lab-created diamond category has potential, and offers jewelry retailers alternatives to appeal to new prospects – without encroaching on present diamond gross sales. “That’s the place we see the really thrilling opportunity for lab-grown diamonds to develop a genuinely additive jewelry business which takes share from different luxury/fashion merchandise – corresponding to accessories and purses. That said, jewelry stays extremely localised, with consumption patterns various by area. Heavier traditional plain gold jewelry is preferred within the southern states, whereas lighter weight and studded jewellery are extra popular in the northern and western areas. “As a hyperlocal player, we’re a Punjabi in Punjab and a Gujarati in Gujarat,” says Kalyanaraman, noting that almost per cent of their stock is region-specific. Novel Jewels is working to contemporise conventional designs by bringing regional craftsmanship to the national stage.