Revenue at Titan Company increased in the third fiscal quarter as consumers purchased wedding jewelry for events that had been deferred.Jewelry sales rose nearly 15% year on year for the three months ending December 31 amid positive consumer sentiment. Shoppers also displayed an eagerness to.
RAPAPORT. LVMH has shaken up Tiffany & Co.’s senior management after the French luxury group finally completed its acquisition of the iconic US jewelry brand.
Anthony Ledru, previously executive vice president for global commercial activities at Louis Vuitton, will succeed Alessandro Bogliolo immediately as Tiffany’s CEO, LVMH said Thursday. Ledru is returning to Tiffany, where he was senior vice president for North America between 2013 and 2014. He has also held senior roles at Harry Winston International and Cartier.
Meanwhile, Alexandre Arnault, CEO of luggage company Rimowa and son of LVMH chief Bernard Arnault, will take over as Tiffany’s executive vice president for product and communications, while Louis Vuitton CEO Michael Burke will become the jeweler’s chairman.
RAPAPORT. E-commerce spending in the US grew to a record high during the holiday season, with jewelry boasting a strong performance, according to Adobe Analytics.
Revenues for the category rose 66% in November and December compared to the same period of 2019, Adobe said Wednesday.
Total online spending soared 32% to $188.2 billion. That figure was just shy of the 33% increase to $189 billion Adobe forecast in October, but higher than the 30% year-on-year rise to $184 billion it predicted in its revised guidance last month.
“In light of the pandemic, digital has become the primary way for people to connect, work, be entertained and ship, helping set online spending records for the holiday season,” said Taylor Schreiner, director of Adobe Digital Insights.
Walter William Hanneman, a gemologist, author and instrument maker, died on December 12 at the age of 93, his family announced this week.Born in 1927 in Oak Park, Illinois, he entered the world of gems and minerals thanks to his father, Walter Mooney Hanneman, an avid lapidarist. The young.
Diamond trade ends challenging 2020 with 1 ct. RAPI +5.8%. Firm polished prices reflect inventory decline after significant drop in manufacturing and rough sales. Optimism for 1Q as jewelers and dealers seek goods following the holiday season. Retail outlook still cautious amid spike in global Covid-19 infections. Lockdowns may curb jewelers’ inventory replacement efforts. Rising expectations for China jewelry sales ahead of Feb. 12 lunar festival. Tiffany & Co. Nov./Dec. sales +2%, Asia Pacific +20%, Americas -5%, e-commerce up more than 80%. Titan Company jewelry sales +15% during 3Q Diwali period. Russia resumes KP chairmanship after 2020 meetings suspended.
Fancies: Rising demand for select fancy shapes as consumers seek alternative designs at more affordable prices than rounds. Dealers hoping for increased sales of fancy-shape engagement rings. Ovals, Pears and Emeralds strong in 1.50 to 10 ct. sizes. Cushion, P