The six designers, all participants in the show’s Diversity Action Council mentorship program, will exhibit in Salon 634.
Belgian Bank Reportedly Seizes Assets from Exelco
KBC is looking to recover some $29 million in unpaid loans from diamond company Exelco NV, which was co-founded by a member of the Tolkowsky family.
Antwerp--Belgian bank KBC Group NV seized assets from a well-known diamond company late last month in an effort to recover millions in unpaid loans, Bloomberg reported Monday.
Citing court papers, the news outlet reported that KBC had bailiffs search Exelco NV’s Antwerp offices and seized some goods, though the amount of goods taken were insufficient to cover the reported $29 million KBC is seeking to recover from the company.
In addition, KBC searched the De Beers Auction Sales offices in Antwerp but did not find any Exelco goods there, as the company is no longer a DBAS customer. Exelco also had its sightholder status revoked in April, a De Beers spokesperson confirmed Thursday.
KBC, once a main provider of financing to the diamond industry through the now-defunct Antwerp Diamond Bank, has been winding down the bank since late 2014 after failing to find a buyer.
The company did not respond to request for comment on the Bloomberg report or where it is with the wind-down of ADB.
Exelco was founded in 1993 by Leon and Lior Kunstler and master diamond cutter Jean-Paul Tolkowsky, a member of a family that has a long history in the diamond industry. Marcel Tolkowsky is credited with inventing the ideal-cut diamond, and Jean-Paul and his father, Gabi, have cut some of the most famous stones in the world, including the 274-carat Centenary, the world’s largest D flawless diamond, and the 546-carat Golden Jubilee, the world’s largest faceted diamond.
Exelco did not respond to requests for comment sent to two separate email addresses. A woman who answered the phone at the company’s Antwerp offices on Thursday morning said nobody was available to speak to the media.
Despite the fact that the Bloomberg story published on Monday cites the Exelco website as a source of information, the website that’s widely listed for the company, ExelcoDiamond.com, came up as “Currently under construction” on Wednesday afternoon, save for the news page.
The company, however, is still in the De Beers sightholder directory, which has it listed as having nine offices, two factories and 380 employees.
Its subsidiaries include FTK Worldwide Manufacturing BVBA in Belgium, Ideal Diamond Trading USA Inc., Lior Diamonds Ltd., 21st Century Diamond LLC and H&A Cutting Works Ltd., which was the company that sold its cutting and polishing factory in Gaborone, Botswana, to Signet Jewelers back in 2013.
The Latest
The highlight of his collection is the coveted Patek Philippe Grandmaster Chime, which could sell for up to $5 million.
The “Venetian Link” series modernizes the classic Veneziana box chain in its bracelets and necklaces.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
The Seymour & Evelyn Holtzman Bench Scholarship will provide tuition assistance to two low-income students.
The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The Indian jeweler’s new store in Naperville, Illinois marks its 350th location, part of its ongoing global expansion plans.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.