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The owner of jewelry and watch brands including Cartier and Jaeger-LeCoultre bought back nearly $240 million in watches during the fiscal year.
The Amsterdam-based bank joins other financial institutions in pulling back from the diamond business.
The bead and jewelry brand says the problem is the same-old product in stores.
It was one of the strongest-performing divisions for the luxury goods company that owns brands like Bulgari and TAG Heuer.
Full-year net sales increased 3 percent as owned and licenses brands continued to do well internationally.
A story about the upcoming sale of the Rolex known as “The Unicorn” was one of the most popular stories on National Jeweler last week.  
Its goals won’t sound unfamiliar: focus on omnichannel, improve the in-store experience and make sure the merchandise is right.
The watch company recorded a 5 percent increase in net sales following two straight years of decline.
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Fine Jewelry Industry News

Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.