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The Case of the Disappearing Diamond, and This Week’s Other News

Members of the editorial team pick their favorite pieces from the internet.

July 11, 2024  |  Rapaport News

What is the Rapaport team reading? The editors and reporters sat down to pick the content from around the web that’s helped expand their knowledge of the diamond and jewelry industry this week. 

How the Midrange Became a Magnet for Jewelry Houses (Financial Times) 

“This story explains how names like Gucci, Bulgari and Cartier have changed their marketing strategies. The high-end brands are expanding their luxury craftmanship by offering mid-priced jewelry for between GBP 10,000 and GBP 100,000 ($12,803 and $128,030). Their aim is to draw in new customers while maintaining their branding image and fostering customer loyalty. The approach is to provide a stepping stone for consumers to buy high-end jewelry. However, their challenge is balancing quality and cost efficiency.”    

Suzanne Watkin

News Reporter
Tiffany & Co. Shanghai Is Veiled in a Glimmering Glass Diamond Facade by MVRDV (Design Boom) 

“In a city like Shanghai it’s hard to build something that stands out, but Tiffany & Co. nailed it. With a facade covered by almost 7,000 glass diamonds, the brand’s new store at the retail complex Taikoo Li Qiantan has mixed its traditional icon, diamonds, with a distinct element from the city’s landscape: the colorful nights. I can already imagine the viral TikTok videos its visitors will make.”   
Vanina Weekly Gems USED 041024

Vanina Pikholc

Podcast and Video Producer
 
Exit Interview with Longtime Signet Spokesman David Bouffard (JCK) 

“This interview with David Bouffard is a moving and informative story of how the Signet Jewelers executive lived through major changes in the industry over 40 years. Some great pictures, too.”   
Joshua Freedman Weekly Gems USED 041824

Joshua Freedman

Senior Analyst
How Would You Solve ‘The Case of the Disappearing Diamond’? (Instore) 

“What I found so interesting about this piece wasn’t the article itself but the response it elicited. In this Instore series, called The Real Deal, the author presents a scenario in the diamond or jewelry trade that in this case is fictional but could happen in real life. 

In this issue, a jewelry-store manager sold a diamond featured on a wholesaler’s site, only to find out afterward the stone was already purchased. While she tried to find a similar stone to replace it, the couple that ordered it was not happy with any of the other diamonds and the manager lost the sale.

However, the story really begins when you read the comments from other jewelers and wholesalers who responded. This gives the real story — everything from blaming the store manager for not ordering while the couple was in the store before telling them she had it, to discussing the need to create relationships with wholesalers, to how much inventory you can keep on hand, and the need for in-person viewing via memo. While the story itself only poses one scenario, the diversity of the comments speaks to the wealth of knowledge the industry has and provides solid advice for others on how to address these and similar real issues they face daily.”    
Leah Meirovich Weekly Gems USED 041024

Leah Meirovich

News Editor

Main image designed by David Polak.

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