The gold story
Tweet Print this story / 2 September 2012
Gold attracts! How many women can keep their hands off a piece of well-crafted gold jewellery? Be it a necklace, bangle or a ring studded with diamonds or without, gold holds a special place in a womans heart.There is no end to the designs one can get in a place like Dubai. And since the gold bought here is pure, gold shopping has become a must for tourists, too. But how many of us think about how these beautiful pieces of jewellery are made, how the intricate work is done and how bars of gold are transformed into so many different designs to suit everyone’s need? It was a wonderful experience and an eye-opener walking through the factory of Malabar Gold which opened recently in Dubai, says KT photographer, Leslie Pableo. leslie@khaleejtimes.com
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Designer Dale Cornell's fashions will feature in the Collection 3056 runway show at Melbourne Spring Fashion Week. Photo: Craig Sillitoe
Behind rusty rollerdoors dotted among Brunswick's backstreets, an independent fashion scene is quietly cutting out a new shape.
While the inner-northern enclave's hipster status is no secret, less well known is its rich fashion and textile industry, contained within old auto-electrical garages and repurposed warehouses off Sydney Road.
Here there are no mass-produced knock-offs peddled by chain stores, but small, finely honed collections designed and made locally using sustainable materials.
Jack of Diamonds designer Brianna Read with some of her work. Photo: Craig Sillitoe
This antidote to fast fashion will take centre stage at Collection 3056, a Melbourne Spring Fashion Week runway event on Wednesday that will showcase the work of eight Brunswick designers.
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The group includes Anna Cat, A Name is A Label, LHORDS, New Model Beauty Queen, Jack of Diamonds, Hand Hook Yarn, Neisha and Ella.
As well as a postcode (hence the name), the members of this scene share a dedication to ethical and sustainable design practices - a key topic at this year's fashion week.
Jack of Diamonds designer Brianna Read was drawn to Brunswick after graduating with a degree in textile design from RMIT's Brunswick campus. She shares a studio with artists, jewellers, musicians, screen printers and graphic designers.
"There is so much creativity here [in Brunswick] but you don't necessarily see it," she says. "You have to jump off onto a side street and even then it's not shouted about. There's a sort of humbleness about the way people operate in Brunswick, there's no pomp and ceremony."
New Model Beauty Queen designer Dale Cornell found an artistic refuge in Brunswick when the rent on his Fitzroy factory rose three years ago.
Now resettled in a small factory in Saxon Street, Cornell's clothing manufacturing business makes everything from lingerie to children's wear, as well as his own label.
While cost is often cited as the cause of death for the local clothing manufacturing industry, Cornell disagrees.
"Oddly enough, if you're doing small runs it's actually more cost-efficient to produce locally because you don't have to produce large volumes, so it's cheaper and more sustainable," he says.
"You can be much more market-focused, so you can change and evolve and react to what the market wants much more quickly. When you're making offshore you're always projecting yourself into the future because of the time lag, and with the way the world works that's not always a good idea."
As demand for cheap, disposable fashion grows, so too does a counter-demand for premium and ethically produced clothing. It is in this market that the Brunswick industry hopes to survive.
"I think some people are resigned to buying what's in the big clothing stores but there's a shift away from that disposable consumer attitude towards more conscious consumerism," Read says.
"My very small client base all have a passion for supporting locally-made. It's about retaining skills as part of a community so we don't outsource everything," she says.
Not only is there a growing market for ethically produced designs, the group also discovered a willingness to fork out for the cost of their runway show.
Faced with a big bill they could not afford, the group turned to crowdfunding site pozible.com and raised $6500 - which was $1000 more than their original budget required.
"We were sponsored by 150 people, which was really inspiring," event director Bianca Christoff says.
"It gives us a chance to be part of Melbourne Spring Fashion Week and showcase our work before a bigger audience than whoever is walking down Sydney Road."
Collection 3056 is on Wednesday at The Order of Melbourne.
Other Melbourne Spring Fashion Week events include the Designer Series Runway shows at Melbourne Town Hall, workshops at City Square and an exhibition celebrating 100 years of Wittner shoes.
mkent@theage.com.au
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Shares in diamond retailer Tiffany & Co. (NYS: TIF) are soaring since the company reported second-quarter earnings yesterday. Despite the market's reaction, however, the actual results and forward guidance are much more muted.
Opening Tiffany's little blue box
Total sales for the quarter came in at $887 million, an increase of 1.6% over the same period a year ago. After factoring in expenses, its net income of $92 million, or $0.72 per share, was up 2% on a year-over-year basis. The latter missed Wall Street estimates by two pennies a share.The strongest geographic performance was notched by the Japan region, where total sales and comparable store sales were up 10% on a constant-currency basis. In the United States, meanwhile, total sales were flat while comps were down 5% -- at its flagship location on Fifth Avenue in New York City, which is responsible for a staggering 10% of the company's revenue, sales were down a stunning 9%. And in its fastest growing Asia-Pacific region, total sales were tempered, growing only 3% while same-store sales fell by 5% on a constant currency basis.
Region
Total Sales Growth*
Same-Store-Sales Growth*
Percent of Overall Business
Americas
0%
(5%)
49%
Asia-Pacific
3%
(5%)
20%
Japan
10%
10%
18%
Europe
8%
2%
11%
Source: Tiffany's Q2 2012 earnings release. *Sales reported on a constant-exchange-rate basis.
The reason shares in the company are nevertheless up is that analysts had predicted a much sharper decline in same-store sales. Overall revenue at stores open at least a year fell 1%, handily beating predictions of a 4% drop.
Looking forward, the company dropped both its sales and earnings forecasts for the remainder of the year. In terms of revenue, it now sees worldwide net sales increasing 6%-7% compared to a previous expectation of 7%-8% growth. In terms of earnings, management expects full-year earnings per share of $3.55-$3.70, compared to its previous forecast of $3.70-$3.80 per share.
According to the company's chairman and chief executive officer, Michael Kowalski:
We think it is only prudent to maintain a cautious near-term outlook about global economic conditions and the effects on customer spending, with year-over-year growth comparisons in the next few months also being pressured by the strong increases we experienced last year. At the same time, we are determined to further strengthen Tiffany's competitive position by expanding our store and customer base and introducing enticing new designs, all intended to generate solid long-term financial performance.
Shares in Tiffany & Co. currently yield 2.5%, are down more than 5.3% year to date, and trade at more than 18 times earnings.
How other luxury retailers are faring
At the end of July, luxury handbag and accessories maker Coach (NYS: COH) saw its share price fall sharply after the company reported results for the quarter ended June 30. Even though earnings for the quarter surged 24% on a year-over-year basis, analysts were disappointed by the company's same-store sales, which rose just 1.7% in is North American stores, well below the consensus estimate of 6%.According to the company's chairman and chief executive officer: "In North America ... an increasingly promotional environment led to lower growth than expected in factory stores. As a result, we responded by reinstating our prior practice of in-store couponing in a cross section of factory locations late in the period."
Meanwhile, shares in luxury retailer Saks (NYS: SKS) are up double digits since the beginning of August after the company reported better-than-expected results two weeks ago. For the quarter ended July 28, the company reported a net loss of $0.08 per share compared to a loss of $0.05 in the previous year's quarter. Excluding one-time charges associated with the company's new fulfillment center in Tennessee, the company lost $0.05 per share. Both figures exceeded analysts' expectations for a loss of $0.09 a share.
Foolish bottom line
After the financial crisis, luxury retailers were among the first in their industry to recover, as higher-net-worth individuals resumed spending shortly thereafter. It now appears this trend may be stalling, at least here in the United States and in Europe.It's for this reason that our analysts drafted a free report detailing three American companies set to dominate the world. Unlike Tiffany's, Coach, and Saks, these companies are so geographically diversified that they're effectively impervious to regional economic slowdowns. To learn the identity of these companies before it's too late, click here now.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
Rio Tinto today announced the launch of its exclusive Argyle Pink Diamonds Tender 2012, an increasingly rare opportunity to purchase the world’s most precious diamonds.
This exceptional collection which showcases 56 single pink diamonds, including two red diamonds and an additional 19 lots of blue diamonds, will be previewed around the world in September and October.
The Argyle Diamond Mine consistently produces virtually the world’s entire supply of rare pink diamonds, as well as sporadically producing blue diamonds. The 19 lots of rare blue diamonds, headlined “Once in a Blue Moon” have been collected over the past two years.
Manager of Argyle Pink Diamonds, Josephine Johnson said “We are delighted to offer a highly sought after collection of rare pink, red and blue diamonds which are destined for investment portfolios or heirloom pieces of jewellery.”
This year’s prestigious collection showcases several “hero” stones that have been named in keeping with the theme of desirability and adoration of something very beautiful and rare. Argyle Siren™ is a 1.32 carat square radiant cut Fancy Vivid Purplish Pink diamond and Argyle Satine™ is a 1.02 carat cushion cut Fancy Intense Purplish Pink diamond. The collection of smaller blue diamonds showcases Argyle Allure™, a 0.33 carat heart shaped diamond, and also taking their reference from the feminine mystique are the similar sized oval and pear shaped blue and violet diamonds, Argyle Elektra™ and Argyle Heloise™.
Since the Argyle Diamond Mine began operations some 27 years ago the world has developed a passion for the rare pink diamonds that are in unprecedented demand from connoisseurs, collectors and investors.
Rio Tinto Diamonds chief commercial officer Jean-Marc Lieberherr said
“Excitement around this year’s Tender collection is understandable as Argyle pink diamonds are a diminishing natural treasure distinguished by their uniqueness, their limited availability, their exceptional craftsmanship, their rich provenance and their natural beauty.”
Tender viewings will be held in Perth, Hong Kong and London with bids closing on 15 October 2012.
Pink diamonds, produced at Rio Tinto’s Argyle Mine in Western Australia, are highly coveted as the world’s most sought after gems. The Argyle Diamond Mine produces more than 90 per cent of the world’s pink diamonds, which are sold in a broad range of colours and sizes to an international customer base.
Pink diamonds’ value is directly related to their rarity. The market for pink diamonds is quite separate to white diamonds, and due to their rarity, pink diamonds typically command prices far in excess of white diamonds.
The best diamonds are reserved for the annual Argyle Pink Diamonds Tender. Rio Tinto’s Argyle Pink Diamonds business is located in Perth, Western Australia, alongside its cutting and polishing factory.
Business
ItsHot.com Now Offers Greatest Selection of Diamond Jewelry at Discounted Prices PR WebNew York (PRWEB) August 24, 2012
ItsHot.com, a renowned diamond jewelry manufacturer in US, now offers some of the greatest selection of diamond jewelry in the industry, all at guaranteed lowest prices. Their jewelry product line has over 20 thousand different types of diamond jewelry and watch designs. This diamond jewelry store offers thousands of designs at factory direct prices and all their jewelry items come with one year warranty and 30 days money back guarantee.
Each of their jewelry items is encrusted with real natural diamonds that are carefully selected and cut to perfection to emphasize their dazzling beauty. Diamond has some of the hardest structures found on earth and is also one of the most rare and beautiful stones. Nothing reflects light as amazing as diamond. ItsHot.com is the favorite shopping destination for all celebrities and the elite as they always come up with some of the best jewelry designs in the industry. Well known people frequently visit this diamond jewelry store because they are always satisfied with the service they receive and the quality of the merchandise.
Their diamond jewelry sale and every day prices have no comparison with any other store and is some of the best in the nation. From diamond watches, diamond earrings to men’s jewelry and engagement rings, they offer a factory-direct price on all their jewelry items. Each jewelry item is also packed in a nice gift box to ensure its safe delivery and is ready to be presented to that special person the minute you receive it. All orders are shipped by FedEx mail with signature confirmation and full insurance for fast and safe delivery.
The spokesperson of ItsHot.com stated, “Shopping at ItsHot.com is entirely risk-free--we guarantee it. We have several policies in place to ensure that your experience with us will be safe, easy and 100% satisfactory. We manufacture most of the diamond jewelry that we sell ourselves and are selling it both retail and wholesale offering the highest quality, the best selection and prices in the diamond jewelry industry.”
ItsHot.com has over 20 years of experience in manufacturing and wholesale of high-end fine diamond jewelry. Buying from this diamond jewelry NYC store is buying directly from the manufacturer without the middle men. They have vast knowledge of workmanship and also provide customization services of jewelry items on demand of the customers. This store of Diamond Jewelry in NY looks forward to help every customer celebrate their special occasions with extraordinary values on exquisite diamonds, fine jewelry and diamond watches. To know more visit their Diamond Jewelry NYC showroom at 2 West 46th St, Suite 602, New York, NY 10036 or log on to http://www.ItsHot.com.
Read the full story at http://www.prweb.com/releases/diamond-jewelry/diamond-jewelry-nyc/prweb9833257.htm
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