Diamond News Archives

Pandora, the renowned Danish fashion jewelry manufacturer and retailer, is pushing forward with its plans and program to "Reignite a Passion for Pandora."

Under its new CEO and President, Alexander Lacik, and the new CFO Anders Boyer, the firm is progressing with NOW – the firm’s business transformation program that "has comprehensive impact on the organisation, operations and culture."

"As a foundation for the upcoming important brand re-launch, Pandora initiated a commercial reset including fewer promotional activities, reduction of sell-in packages and improvement of inventory levels. The reduced sell-in packages and other wholesale inventory movements are estimated to have impacted organic growth by -5 percentage point in Q1 2019," the company reported.

Pandora is currently testing a number of commercial initiatives, including pilots with celebrity and influencer collaborations. It is making significant marketing investments in key countries, which are expected to demonstrate the potential to drive profitable revenue growth.

Pandora said in a statement that the its "cost reduction initiatives tracked well in the first quarter. Pandora is rapidly changing the cost mindset and performance culture and has made significant progress in several areas including productivity improvements in Thailand."

Pandora designs, manufactures and markets hand-finished and contemporary jewelry made from high-quality materials at affordable prices. Pandora jewelry is sold in more than 100 countries on six continents through more than 7,700 points of sale, including more than 2,700 concept stores. Founded in 1982 and headquartered in Copenhagen, Denmark, Pandora employs more than 32,000 people worldwide of whom more than 14,000 are located in Thailand, where the Company manufactures its jewelry. Pandora is publicly listed on the Nasdaq Copenhagen stock exchange in Denmark. In 2018, Pandora’s total revenue...

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The Gemological Institute of America (GIA) will host a panel discussion entitled "Embracing Sustainability Amid New Consumer Expectations," at the JCK Las Vegas Show on Friday, May 31, at 12:00 p.m. The panel will be moderated by Susan Jacques, GIA president and CEO and five experts will address the need for sustainability in day-to-day operations of small and large companies in the gem and jewelry industry.

"Corporate social responsibility is a growing consumer expectation, and companies need to account for it," said Kathryn Kimmel, senior vice president and chief marketing officer. "Our industry can benefit from amplifying sustainability efforts of retailers, manufacturers and suppliers."

The invited panelists are:

• Dr. Saleem Ali, Blue and Gold Distinguished Professor of Energy and the Environment at the University of Delaware, will provide an overview of the environmental and social impact of the gemstone industry.
• Lisa Bridge, president and CEO of Ben Bridge Jeweler, will discuss how to communicate social responsibility to employees as well as the consumer.
• Marcus ter Haar, managing director of Okavango Diamond Company, will share an overview of how natural diamond is contributing to the economic development and employment in mining communities where few other options for livelihood exist.
• Claire Piroddi, sustainability manager for watches & jewelry at Kering, will share how their brands early adoption of sustainability transformed the brands perception.
• Nadja Swarovski, member of the Swarovski Executive Board, will speak about the sustainability initiatives that Swarovski does on the manufacturing level, including laboratory-grown diamonds.

To attend the panel, register here^[1]....

References

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The “London Fix” is issued by the London Bullion Market Association (LBMA). It is the way that global daily prices are set for precious metals including silver, platinum and palladium. But most importantly, gold.

In the LBMA’s own words: “Internationally, bullion is traded on a 24-hour basis, mainly through London, in Over-the-Counter (OTC) transactions in spot, forwards and options. The gold price is set twice daily (at 10:30 and 15:00 London BST) in US dollars. The silver price is set daily at 12:00 (London BST time) in US dollars. The platinum and palladium prices are set twice daily at 09:45 and 14:00 (London BST) in US dollars per .9995 fine ounces.”

Why Isn't the Gold Price Set in New York?

Exactly why gold prices are established in London — as opposed to other bullion centers like, say, New York or even Hong Kong — derives from London’s long and intimate historical involvement with the yellow metal.

Photo: Christoph Reiter

It began in the 17^th century, as South American gold poured into the city. This led to the construction of the first purpose-built vault, a bullion warehouse from which the Bank of England served the whole European market, as it still does. Subsequent inflows from the US, Australia and South Africa solidified London’s position. Refineries close to the vault were set up to process the gold. And the Bank of England came to play the key role of custodian, regulator and facilitator of of gold lending and selling by other banks. (As the LBMA’s website states: “The fact that London was at the centre of international time zones has always facilitated it being the perfect place from which to operate the market.”)

By 1850, five private banks—N M Rothschild &...