Tiffany Looks to China for Growth

Tiffany & Co. Shanghai Store.  Photo: Cal Otero

Luxury retailer jeweler Tiffany & Co. said it will open more stores in China than anywhere else in the world over the next three years.

“China will rapidly become the place where we will have the greatest number of new stores. Within the next three years, the number will stand between 25 and 30,” Michael J. Kowalski, chairman of Tiffany & Co, told China Daily.

The New York-based company plans to open four stores in China during the current fiscal year, which ends January 2011 and will invest more heavily in the country’s second and third tier cities, Kowalski reportedly said.

Expansion in China is being driven by robust sales growth in the market, Kowalski said. In the second quarter of 2010, Tiffany witnessed its fastest growth in China, with a 27 percent increase, year-over-year. He expects sales in the Asia-Pacific region, led by China, to increase by more than 20 percent. He said China will surpass the United States as the largest jewelry market in the world over the next five to 10 years.

The jeweler currently has 12 retail stores and boutiques in China, including three in Beijing, four in Shanghai and one in Chengdu. Its store at the China World Shopping Mall in Beijing opens this month, with another in Kunming opening in December.

To attract as many customers as possible in its fastest-growing market, Tiffany unveiled its 2011 jewels and diamonds collections in Beijing on October 22—the first time the brand has unveiled a major new collection outside the U.S.

“We aim to let Chinese customers become more familiar with the connotation and history of our brand through this activity, which brings Tiffany closer to its Chinese buyers,” Kowalski reportedly said.

In contrast to other luxury brands, whose stores are operated by their Chinese distributors, all of Tiffany's boutiques in China are owned directly by the company, and that will continue to be the case, Kowalski reportedly told the newspaper. Currently, 97 percent of Tiffany stores around the world are operated directly by the company.

McQueen Stops Selling Hells Angels-Themed Merchandise

Alexander McQueen will stop selling its Hells Angels brass and silver knuckle duster rings.

It only took eight days for the folks at the Alexander McQueen brand and a couple of retailers to bend to the fierce pressure applied by the Hells Angels.

The notorious motorcycle gang has settled its trademark infringement lawsuit Tuesday against Alexander McQueen, Saks Fifth Avenue and Zappos.com over the sale of Alexander McQueen merchandise bearing the winged skull logo and the Hells Angels’ trademarked name, Women’s Wear Daily reports.

Under the terms of the agreement the three companies have removed the Alexander McQueen knuckle-duster rings, clutches, jacquard dress and pashmina, retailing for between $495 and $2,329, from their Web sites and stores, Hells Angeles attorney Fritz Clapp told WWD. The companies also agreed on Tuesday to recall merchandise that has already been sold and destroy it.

The Hells Angels also requested financial damages based on profits earned by the fashion companies on the merchandise, Clapp reportedly said. However, there is currently no estimate on the exact number of items that were sold.

Gem Diamonds Letšeng Mine Yields 185-ct. White Diamond

Photo from Daily Mail

Gem Diamonds Ltd. said it uncovered an “exceptional” 185-ct. rough white diamond from the Letšeng mine in Lesotho at the end of October.

Early examinations indicate that this rough diamond will yield top color and top clarity polished diamonds and is thus expected to achieve a substantial price per carat, the mining company said in a statement.

It is the second of two large, top quality white diamonds to be recovered from the Letšeng mine in the last two months following the 196 carat white diamond which was recovered from Letšeng in August 2010. Unlike Letšeng’s other noteworthy diamonds which were recovered from the Satellite pipe, this diamond was recovered from Letšeng’s larger Main pipe, “demonstrating that the Main pipe is not to be underestimated for its ability to produce very large top quality diamonds,” the company said. The mine has yielded three of the world’s 20 largest recorded diamonds since it acquired the mine in 2006.

The London Daily Mail reports that the diamond may be worth up to £7million ($11.2 million).

Gem Diamonds owns 70 percent of Letšeng Diamonds in partnership with the government of the Kingdom of Lesotho, located in Southern Africa, which owns the remaining 30 percent. Operated by De Beers between 1977 and 1982, Letšeng reopened operations in 2004 and was acquired by Gem Diamonds in late 2006 for $118.5 million.

"Letšeng is one of the world’s truly extraordinary diamond mines and its reputation is well deserved given the frequency with which it produces remarkable diamonds,” said Clifford Elphic, Gem Diamonds CEO. “Management remains focused on its strategy to substantially expand production at Letšeng in order to maximize value and increase the returns from this world class asset.”

Blue Nile Launches the 'Ring It. Sing It.' Contest

Online diamonds and fine jewelry retailer, Blue Nile, Inc., has launched a two-part online engagement contest. The winning couple will hold their proposal at NASDAQ headquarters in New York while serenaded by Josh Jenkins of Green River Ordinance and singer/actress Katharine McPhee.

The “Ring It. Sing It.” contest also will provide 11 winning couples with a one-of-a-kind song about their love written and performed by pop-rock band Green River Ordinance and an Infinity Love Knot Pendant from Blue Nile.

Green River Ordinance

The first part of the contest, “Ring It.,” launched Tuesday and will culminate with a live proposal at NASDAQ on November 29, known as Cyber Monday, the launch of the online holiday shopping season. Blue Nile, who is ringing the “Opening Bell” to mark the day, will provide the couple with an all-expenses-paid trip to New York and the groom-to-be with a custom diamond ring for the proposal. Green River Ordinance lead singer Josh Jenkins will serenade the couple in a live, acoustic performance of the band’s hit song “Endlessly,” and Katharine McPhee will perform “It's Not Christmas Without You” from her recently launched holiday album, Christmas is the Time To Say I Love You. The proposal will take place at 9:30 a.m. and will be broadcast live in Times Square.

Winners of the weekly “Sing It.” portion of the contest will have their love story put to music. Green River Ordinance will serenade the couple with a personalized song performed and recorded using ooVoo, a video communication service, to share with friends, family and the world via social media.

To learn more about the "Ring It. Sing It." contest and to register, visit http://www.facebook.com/BlueNile. The "Ring It. Sing It." contest is open to all U.S. residents ages 18 and older. "Ring It." entries will be accepted until November 15. Submissions for “Sing It.” began this week and must be received by Sunday of each competition week.

Gucci Launches Grammy Watch and Jewelry Collection

Gucci Timepieces & Jewelry is launching a special edition Grammy watch and jewelry collection designed by Gucci creative director Frida Giannini.

Billed as a “fusion of fashion and music,” the new line includes a digital watch and sterling silver, gold and diamond jewelry that combine Gucci and Grammy logos. Gucci’s partnership with The Recording Academy—an organization of musicians, producers, engineers and recording professionals that produces the annual Grammy Awards—has resulted in a watch and jewelry line that “draws its inspiration from the passion that music evokes,” according to a joint statement.

Gucci's first-ever digital timepiece, the I - GUCCI (pictured above), has a broad watch face that changes from a two-time zone dial in large digits to a streamlined version with two discreet digital hands revealing local time. Its large, double-layout digital display has a special tag celebrating the Grammy partnership. The yellow PVD stainless-steel case is complemented by a wide, black or white rubber strap that sports both the Grammy and Gucci logos. The case back features the Grammy Awards special edition label. The watch is also available with diamonds outlining the watch face.

 The collection also includes sterling silver jewelry interpreting the iconic Gucci dog tag necklace (left) in four variations, with black or white enamel finishing also available with diamonds. The famous gramophone—the symbol of the Grammys since its inception—is etched on the dog tag on a yellow 18k gold globe. A subtly engraved Gucci logo completes the overall design.

The partnership includes direct access to Grammy news and updates on a new section on guccitimepieces.com. Visitors can learn more about the Academy’s music preservation program, discover Grammy history or use a direct link to Grammy.com.

Timepiece Tuesday: Rolex, Jaeger-LeCoultre, Ernst Benz and Wooden Watches

Sir Edmund Hillary Rolex Watch Collection on the Block

Rolex watches belonging to the 20th century explorer Sir Edmund Hillary will be the feature items at Antiquorum's sale of Important Vintage and Modern Timepieces, being held November 13 – 14 at the Mandarin Oriental Hotel in Geneva. Sir Hillary is credited with being the first climber to reach the summit of Mt. Everest in 1953. The timepieces have been consigned for sale by Lady Hillary and all had special significance for Sir Edmund, the timepiece auction house said in a statement.

The earliest model in the collection is a Rolex Oyster Perpetual, ref. 6084 (pictured above), dating from 1953 which was presented to Sir Edmund by Rolex Bosecks of Calcutta, India, after his descent from Everest. Sir Hillary wore the watch during his Trans-Antarctic Expedition of 1955-1958—the first overland crossing of Antarctica and the first expedition to reach the South Pole since Scott in 1912. The watch, with a caseback engraved "Sir E. Hillary", is estimated to fetch from $10,000 to $20,000.

Also part of the collection is a gold Rolex Oyster Perpetual Date, ref. 15238, purchased by the explorer on the 50th Anniversary of the day he reached the summit of Everest, estimated at about $10,000; as well as a 1972 Rolex Explorer I and a 1973 Explorer II also owned by the adventurer.

Jaeger-LeCoultre's Updated iPhone App

The Jaeger-LeCoultre application has been available for download for the iPhone since October 2009. However, it now compatible with the iPad and has been updated to include the Swiss watch brand’s entire 2010 collection. Users can experience the technical characteristics of certain timepieces, read a glossary of watchmaking terms and test their knowledge and skills of watchmaking with a course over the smartphone, including a hand-fitting course where the user can test his or her dexterity and precision.

Ernst Benz Goes to Canada

Watch brand Ernst Benz celebrated the launch of its Canadian retail presence in Toronto in partnership with TimeZone and retail partner L’ORO Jewellery in mid-October. The two-day event began with the watch brand hosting a TimeZone get together at Liberty Bistro in the city’s developing Liberty Village area. Creative and Managing Director, Leonid Khankin along with Ernst Benz’sInternational Bunsiness Development and Marketing team presented the entire Great Circle collection to twenty five members of the prestigious online watch forum. In attendance was MLS All-Star Toronto FC and Ernst Benz fan Dwayne DeRosario. The second night, Ernst Benz partnered with L’ORO Jewellery to host a celebration event at the jeweler’s popular Vaughn Mills location (pictured above).

Wooden Watches

From left: Date Beige, Crono Brown, and Date Beige/Army. Digital Trends

Italian brand WeWood unveiled a line of watches made entirely from wood, Digital Trends reports. WeWood watches are all hypoallergenic, free of chemicals, and feature Miyota movement pieces. The watches come in several colors, all derived from specific wood types including beige Maple, black Ebony, brown Red Wing Celtis, and army green Guaiaco. Al watches are priced at $119. For every watch purchased, the company will plant a tree in North America.

Hells Angels Sue Alexander McQueen Over Skull and Wing Design

Alexander McQueen's ring that's under dispute by the Hells Angels.

There was a time when the Hells Angels would beat the piss out of anyone who they believed was stealing from them. Now they go to court.

The notorious motorcycle gang has filed a trademark infringement suit against the design brand Alexander McQueen and retailers who are selling the designers’ disputed products, according to media reports.

At issue is the skull design used for McQueen's Hell’s Knuckle brass and silver knuckle duster rings, Professional Jeweller reports. In addition, the suit is targeting a clutch bag, scarf and dress by the designer that feature a similar design.

The Hells Angels are claiming that Alexander McQueen used its patented skull and wing motif without permission. It is also suing Saks and online retailer Zappos.com that sell the items.

The motorcycle group registered patents for its motif in 1984 and has since authorized its use on clothing and jewelry for promotional purposes, according to Professional Jeweller. The suit claims Alexander McQueen did not receive permission.