SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
MajorsJun 07, 2019
Watches of Switzerland Goes Public, The RealReal Plans IPO
Here’s what you need to know about the newest publicly-traded luxury retailers.
Luxury reseller The RealReal opened an in-person consignment office in New York City’s Upper East Side neighborhood in May, its third in the city.
New York—Publicly-traded watch and jewelry companies are few and far between, a drop in the bucket compared with tech and biotech stocks, but recently notable names have thrown their hats into the stock market ring.
Watches of Switzerland announced in May that it was considering an initial public offering on the London Stock Exchange.
The watch company debuted on the exchange later that month and has a market cap of £706.4 million ($898.2 million) as of press time.
The company went public in an effort to slash its mounting debt and raise capital to grow its presence in the United States.
The brand is well-established in the United Kingdom with 125 stores but has gradually been increasing its footprint in the U.S. since 2017, opening a handful of retail locations.
Its flagship is located in New York’s SoHo neighborhood, and its latest store is in Hudson Yards, a recently opened upscale development in Manhattan that has been called “a billionaire’s fantasy city.”
But Tiffany & Co. is one of the only luxury retailers listed on the S&P 500, so there may be room for more high-end retailers on Wall Street.
Luxury e-tailer and reseller The RealReal Inc. announced its IPO aspirations in January and declared its upcoming trading debut on the Nasdaq last week.
The online consignment site, which was founded in 2011, specializes in secondhand luxury apparel and accessories, offering brands like Chanel, Gucci, Louis Vuitton and Christian Dior.
In the jewelry category, the editors’ picks of the month include an iconic Cartier Love bracelet in 18-karat yellow gold for $4,550 (estimated retail price of $6,300) and an 18-karat rose gold Chopard sport watch for $15,295 (estimated retail price of $29,900).
A team of more than 100 brand authenticators, including gemologists and horologists, verify markers of authenticity, like serial tags and hologram stickers.
The company is not yet profitable, reporting a net loss of $75.8 million in 2018. Revenue is on the rise, however, climbing 55 percent year-over-year to $207.4 million.
The site processed 1.6 million orders in 2018, a 42 percent increase compared with the previous year, with an average order value of $446.
The RealReal has been building out its brick-and-mortar presence, opening its third New York City location on the Upper East Side.
It has 10 in-person consignment offices in total, located in New York City, Los Angeles, San Francisco, Miami, Chicago, Dallas and Washington, D.C.
The date of its Nasdaq debut has not been announced.
More on Majors
The Latest
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
WatchesApr 10, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
IndependentsApr 10, 2024
Levy's Fine Jewelry Explores Diamond History The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.
