Trade Resources

Representatives from Anglo American PLC, Alrosa AO, Rio Tinto Group and five other major diamond producers held a meeting in March to discuss the creation of a new diamond industry association, Bloomberg.com has reported.

"David, I'm just beside myself."

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.

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.

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.

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.

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.

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.

As of September 17^th, 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.

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.