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Jewelry Business Insights: At Polygon, we're lucky enough to connect daily with over 2,800 members who share discussions on everything and anything to do with jewelry. Our jewelry business insights touch on a variety of topics we know are of interest to jewelers. Plus, read up on the latest from long-time Polygon member and InStore contributor David Geller (www.jewelerprofit.com). His articles are also featured monthly in Polygon's Jewelry Times.
Jewelry Business Insight

Shareholders File Class Action Lawsuit Against Movado

Shareholders of luxury watch brand Movado have launched a class-action lawsuit against the company, claiming that Movado published “misleading and materially false” forecasts that caused stock prices to rise artificially, then fall more than 30% when disappointing third-quarter 2014 sales figures were announced.

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Shareholders File Class Action Lawsuit Against Movado
Jewelry Business Insight

Court Rules Costco Can Sell Grey-Market Omega Watches

A three-judge panel has ruled that Costco has the right to sell Omega watches that were purchased from a foreign distributor, despite the fact that Costco is not an authorized dealer of Omega products.

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Court Rules Costco Can Sell Grey-Market Omega Watches
Jewelry Business Insight

J.C. Penney Seeking to Increase Fine Jewelry and Watch Sales in 2015

Executives from iconic American retailer J.C. Penney told a group of investors on Oct. 8 that the chain will be focusing on increasing jewelry and watch sales in the coming quarters.

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J.C. Penney Seeking to Increase Fine Jewelry and Watch Sales in 2015
Jewelry Business Insight

Hoover and Strong to Offer Fairmined Gold in 2015

Hoover and Strong, a U.S.-based metals recycler and provider of loose diamonds, bridal products, custom casting, raw materials and finishing products to independent jewelers since 1912, will begin offering Fairmined gold in 2015.

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Hoover and Strong to Offer Fairmined Gold in 2015
Jewelry Business Insight

The Miami Antique Jewelry & Watch Show Moves to One of Florida’s Largest Cities

For 2014, the prestigious Miami Beach Antique Jewelry & Watch Show makes a new home in the city well known for its Latin style, Miami. The event will now be held at the Miami Airport Convention Center on Nov. 7-9 – just 13 miles from the center of Miami Beach.

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The Miami Antique Jewelry & Watch Show Moves to One of Florida’s Largest Cities
Jewelry Business Insight

Slow Sales of Swiss Watches Prompt TAG Heuer to Cut Jobs, Cartier to Reduce Production

Swiss watch manufacturer Tag Heuer is eliminating 46 full-time positions and will reduce working hours for another 49 employees in response to slowing export growth, reports Bloomberg.com. The production unit affected by the layoffs currently employs around 1600 people, and the 46 positions to be cut are from the management and production departments.

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Slow Sales of Swiss Watches Prompt TAG Heuer to Cut Jobs, Cartier to Reduce Production
Jewelry Business Insight

Polygon De-Listing All EGL International Lab Reports

As of September 17th, 2014, EGL International certificates will no longer be listed on Polygon’s Certified Diamond Database. As well, the sale of EGL International goods on Polygon’s Buy/Sell channels, where members can post individual diamond offers and request goods, will be restricted as of this date.

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Polygon De-Listing All EGL International Lab Reports
Jewelry Business Insight

Panama Gem and Jewelry Center – Phase I Nears Completion in Panama City

Phase I of the Panama Gem and Jewelry Center - a $200-million architectural project under construction in Panama City, intended to attract companies to Latin American jewelry markets - is on track to be completed in the fourth quarter of 2014, according to an official press release.

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Panama Gem and Jewelry Center – Phase I Nears Completion in Panama City
Jewelry Business Insight

States of New York and New Jersey Ban Most Ivory Sales

On Aug. 12, New York State Governor Andrew Cuomo signed into law a bill banning the sale of ivory in the state. The new law makes it illegal to sell rhino horn, elephant ivory and mammoth ivory, while making exceptions for some products, and is similar in nature to a law passed by New Jersey Governor Chris Christie on Aug. 5.

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States of New York and New Jersey Ban Most Ivory Sales
Jewelry Business Insight

21 New Jersey Retailers Cited for Violating ‘Cash for Gold’ Laws

A year-long investigation by the New Jersey Division of Consumer Affairs has resulted in a total of 936 civil citations being handed out to 21 retailers offering ‘cash-for-gold’ services in the state. As well, criminal charges have been brought against two retail jewelers for allegedly dealing in stolen goods.

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21 New Jersey Retailers Cited for Violating ‘Cash for Gold’ Laws