The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Product Pulse: How Are Your Platinum Jewelry Sales?
National Jeweler/Jewelers of America’s latest survey shows they are holding steady for a lot of jewelers.
New York--Sales of both platinum bridal and fashion jewelry have stayed steady or increased over the past three years for the majority of jewelers, National Jeweler/Jewelers of America’s latest survey shows.
Conducted in mid- to late May, the Product Pulse poll asked jewelers about their sales of platinum engagement rings and platinum fashion jewelry over the past three years, as well as their margins and best-selling brands in both categories. About 189 retailers completed the survey.
Of those, 65 percent reported steady (48 percent) or increasing (17 percent) platinum engagement ring sales over the past three years, while the remaining 35 percent said their platinum engagement ring sales have slipped.
Results were similar for sales of platinum fashion jewelry. Fifty-seven percent of respondents reported increasing (6 percent) or steady (51 percent) sales while 43 percent said they have seen sales decline in the category over the past three years.
When it comes to turning a profit on platinum sales, both engagement rings and fashion jewelry perform well, according to the retailers surveyed.
Fifty-two percent of survey-takers reported overall gross margins of 41 percent or higher on platinum engagement rings while 55 percent reported margins in the same range when selling fashion jewelry in the white metal.
When asked about the designers and brands that are best-sellers in their stores, many survey-takers told National Jeweler/Jewelers of America that custom jewelry is their best bet, which also is what jewelers said about gold jewelry and bridal sales.
“Our own brand sells the best,” one respondent wrote. “Next would be Verragio.”
Another noted, “We do custom platinum bands or special orders from specialty manufacturers like Leo Ingwer.”
Popular brands for platinum bridal included Martin Flyer, Gabriel & Co., Simon G, Hearts On Fire, Stuller and Tacori.
Custom also was the most-given response when survey-takers were asked about best-sellers in platinum fashion jewelry.
National Jeweler and Jewelers of America conducted the Product Pulse survey between May 20 and 28.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.