The Jewelry Information Center (JIC) honored industry leaders during the Annual Gem Awards ceremony. This year, at the 6th awards ceremony the recipients were: Bulgari for Corporate Communications and Excellence in Marketing, Terry Burman of Sterling for Lifetime Achievement and Roberta Naas for Excellence in Jewelry and Watch Writing.
Bulgari CEO Francois Cress was introduced by American football star Dan Marino. Other presenters included Sterling President and CEO Mark Light, who introduced Burman and Niche Media CEO Jason Binn, who introduced Roberta Naas.
The Gem Awards recognize outstanding achievements of individuals and companies whose work raises the status of jewelry industry. Recipients include retailers, manufacturers and media who have been able to attain the best results in their field.
The Myanmar government sold 600 lots at the 24th five-day gems and jades auction, which took place in mid-January despite the calls from the U.S.A., some non-government agencies and human rights advocates to boycott the event.
According to the “New Light of Myanmar”, a government-owned publication, the auction was visited by 737 local and 281 foreign merchants.
Although proceeds from the sale were not revealed, a similar sale in November generated $150 million. Another auction is scheduled for March 9-12 at the 45th annual Myanmar Gems Emporium.
According to the “New Light of Myanmar”, the fair will display high quality gems, jades, pearls and jewelry of local make.
The stable demand in the Far East is permitting Myanmar to keep up balanced gem trading, despite the boycott by the U.S.A. and the European Community.
Two major U.S. department stores and the QVC online store have halted irradiated blue topaz sales for an indefinite period amid licensing-issue questions. This makes some industry insiders to wonder about the future of the widely sold gemstone generating more than $1 billion in annual sales for the U.S. jewelry industry.
Sterling Jewelers, parent company of Kay Jewelers and Jared The Galleria Of Jewelry, and J.C. Penney Co. are now selling only a cobalt-diffused and heat-treated blue topaz.
What effect these new regulations issued by the Nuclear Regulatory Commission will have on the industry is debatable. Joe Orlando, vice president of gemstones at Stuller, says the new regulations will raise blue topaz prices and extend the time it takes to get the stones into retailers’ hands. This may prompt some to wonder if blue topaz is worth it.
But Rick Krementz, a past president of the American Gem Trade Association and now president of sales and marketing at NRC license applicant GemClear, says he doesn’t think the new regulations will have a long-term impact.
