Birks Group has launched an international website focusing on the US in a bid to expand beyond its Canadian home market.

The new website, Birks.com, features the jewelry retailer’s 140-year history, while extending its reach to a global audience, Birks CEO Jean-Christophe Bédos said last week.

The first phase of this website is dedicated to building brand awareness, the company said in a statement. The platform directs online shoppers to international retailers including Saks Fifth Avenue and Mayors Jewelers in the US. The second phase of the rollout will be centered around e-commerce through Birks.com, especially in the US. Currently, to purchase products outside of Canada, buyers need to contact Birks directly by phone or by filling out a form on the site.

The company will highlight the various stages of this expansion on its social media platforms. The international website includes a range of its core jewelry collections across all international markets, including Birks Snowflake, Birks Dare to Dream, Birks Pétale, Birks Rosée du Matin and Birks Splash.

Birks has been expanding in the US market in recent years, with its jewels available at Saks Fifth Avenue since 2020. The company also has 25 doors at independent jewelry retailers. For now, Birks.com will attempt to increase brand awareness and provide another point of contact for its target audience, Bédos said.

“Our goal for Birks.com is to tell the story behind our brand, increase visibility and share our beautiful collections to an international audience,” Bédos said.

Image: Birks Group’s Toronto flagship store. (CNW Group/Birks Group)

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Sales and earnings grew at Indian jeweler Titan Company in the fourth fiscal quarter as customer numbers and average spending increased amid a rebound in wedding-related demand.

Revenue jumped 33% to INR 104.74 billion ($1.26 billion) year on year for the three months that ended March 31, including subsidiaries, the retailer reported earlier this month. Net profit gained 40% to INR 7.36 billion ($88.9 million). For jewelry, the company’s biggest division, the number of buyers rose 15%, while the average ticket price rose 8%. Titan also sells watches, wearables and eyewear.

“The wedding segment witnessed a comeback, with growth rates marginally higher than the overall retail sales growth,” management said.

Revenue jumped 41% to INR 408.83 billion ($4.94 billion) for the 12 months that ended March 31. Net profit surged 49% to INR 32.74 billion ($395.2 million).

Image: A Titan store in Deoghar, Jharkhand, India. (Shutterstock)

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US retail sales rose in April as inflation softened and the job market strengthened, boosting consumer sentiment.

Revenue grew 0.4% versus the previous month to $686.1 billion — adjusted for seasonal variation — compared with a 0.7% decrease in March, according to data the US Census Bureau released Tuesday. Salary increases and competitive pricing from retailers also affected sales.

“Retail sales rebounded in April, reflecting consumer resilience in the face of elevated economic uncertainty,” said National Retail Federation (NRF) CEO Matthew Shay. “Moderating price levels, continued labor-market strength and wage gains have increased consumers’ ability to spend. Retailers continue to provide competitive pricing and convenience to help cost-sensitive consumers stretch their budgets.”

Sales climbed 1.6% from the same month in 2022, but growth was still lower than March’s 2.4% year-on-year increase, the NRF noted. However, the federation expects sales to continue to rise.

“Consumers remained engaged in April,” explained NRF chief economist Jack Kleinhenz. “Shoppers are being selective and price-sensitive, but we continue to expect that spending will see modest gains through the course of the year.”

In April, sales advanced year on year in only four of the nine categories the US Census Bureau monitors. The clothing and accessories segment — which includes jewelry — slid 4.1% and dropped 0.3% from March. Online sales across all products grew 6% relative to a year ago and gained 1.2% compared with the previous month.

Image: Shoppers at a mall. (Shutterstock)

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Online-focused jeweler Brilliant Earth saw sales drop and went into the red in the first quarter as the US consumer market endured a challenging period.

Revenue declined 2.3% year on year to $97.7 million, the retailer said last week. The company registered a net loss of $440,000, compared with a profit of $3.4 million a year earlier.

Based in San Francisco, Brilliant Earth presents itself as a specialist in ethically sourced gemstones and jewelry, offering both natural and lab-grown diamonds. It sells via e-commerce and operates around 30 showrooms, where customers can view merchandise.

In the three months ending March 31, the total number of orders grew 10%, but the average value fell 11%, management explained. There was an increase in sales of fine jewelry at lower price points alongside “moderation” in sales growth for products costing more than $10,000.

The performance also reflected an unfavorable comparison with last year’s exceptionally busy wedding calendar, as couples had delayed getting married due to the Covid-19 pandemic. This factor will likely ease later in the year, CEO Beth Gerstein said in an earnings call.

Sales still exceeded the company’s prediction of $94 million to $96 million for the quarter, Gerstein pointed out.

“We are excited about the opportunities ahead and expect the continued success of our strategic initiatives from product innovation and curation to showroom expansion to be drivers of our growth,” she added. “When coupled with the unique qualities of our agile, asset-light business model, we are well positioned to meet our annual goals.”

Image: Brilliant Earth’s showroom in Nashville, Tennessee, which opened last month. (Brilliant Earth)

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Zale, the grandson of Zales Jewelers founder Morris Zale, had been with the Louisiana-based jewelry manufacturer since 2006. He plans to move to Chicago to be closer to family, he told Rapaport News last week. Prior to his time with Stuller, Zale spent a year as a vice president at Graff and seven years at luxury jeweler Louis Glick.

“I intend to stay very involved in the industry through consulting work,” Zale noted.

His last day at Stuller was May 12.

Image: Stanley Zale. (Stuller)

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Revenue from jewelry, watches, clocks and valuable gifts skyrocketed 165% year on year to HKD 5.07 billion ($646 million), the highest monthly total since January 2020, according to data the government’s Census and Statistics Department released Thursday. Retail sales across all product categories jumped 41% to HKD 33.56 billion ($4.27 billion).

The growth was the result of an improvement in spending by local consumers as well as a resurgence in the number of visitors entering the municipality. It also reflected a favorable comparison with the same period last year, when Hong Kong was still under strict Covid-19 restrictions and tourism to the country was almost nonexistent. Visitors who come to Hong Kong to purchase goods comprise a large portion of Hong Kong’s luxury revenue. The municipality’s border with China was reopened in January.

For the first three months of the year, sales of jewelry, watches, clocks and valuable gifts surged 88% year on year to HKD 14.5 billion ($1.85 billion). Total retail sales for the January-to-March period climbed 24% to HKD 102.85 billion ($13.1 billion).

In March, 2.5 million visitors arrived in Hong Kong, compared to only 1,800 in the same month of the previous year. The figure was also nearly double the number of tourists who came in February. Of those who traveled there in March, 2 million were from the mainland, versus 997 in 2022.

“The value of total retail sales surged further in March over a year earlier as consumer and visitor spending continued to improve, though the low base of comparison also contributed,” a government spokesperson said. “Looking ahead, the recovery of inbound tourism and private consumption should continue to benefit the retail sector. The disbursement of a new round of consumption vouchers will render further support.”

Image: A tourist at the Mong Kok shopping district in Hong Kong. (Shutterstock)

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Rio Tinto has unveiled a diamond ring featuring one of the last stones from the company’s famous Argyle mine, pricing it at more than $1 million.

The Argyle Rose has a radiant cut, 1.36-carat, fancy-deep-pink diamond at its center, Rio Tinto said Wednesday. Around this are 1.89 carats of pink and blue Argyle diamonds as well as 2.80 carats of white diamonds, with the design giving a rose effect.

Conceived by Western Australian jeweler Solid Gold Diamonds, the piece will be on sale for AUD 2 million ($1.3 million) through the Perth-based company. It’s wearable as a ring or a statement pendant.

The creation is part of the Argyle Pink Diamonds Icon Partner program, which aims to preserve the mine’s legacy following the end of production in November 2020.

“Encapsulating a rich history and an extraordinary provenance, it is both a contemporary treasure and an heirloom for tomorrow,” said Rio Tinto Minerals CEO Sinead Kaufman. “These rare and precious diamonds are one-and-a-half billion years old, from one of the most beautiful places on earth, and the world is simply not producing them anymore.”

Image: The Argyle Rose. (Rio Tinto)

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Pandora reported its fourth consecutive quarter of strong growth, driven by the opening of several stores and a successful Valentine’s Day.

Revenue rose 1% year on year on an organic basis — a similar metric to comparable-store sales — in the first quarter, for a total of DKK 5.85 billion ($864.8 million), the Danish jeweler said Wednesday. Pandora opened a net 87 concept stores and 112 new owned and operated shop-in-shop locations, providing a 3% increase in sales.

The company also noted a strong contribution from the February 14th love holiday, as well as from UK Mother’s Day, which fell on March 19. Pandora implemented price hikes across its products in the fourth quarter of 2022. Those increases contributed to the rise in revenue for the period ending March 31, 2023, the retailer explained.

Online sales slipped 6% on an organic basis versus the same period a year ago. Meanwhile, profit fell 11% to DKK 889 million ($131.4 million).

Solid sales in the US and other European markets did not completely offset a slow rebound in China, Pandora noted. However, the company saw a “gradual, but continued pickup” on the mainland since the government eased restrictions and reopened borders in January, it said.

Pandora has increased its forecast for the full year amid its “solid start to the year,” it explained. The company now expects organic revenue growth of between minus 2% and 3% for the full year compared to 2022, adjusted from its initial prediction of minus 3% to 3%, it added.

“We have started 2023 well with resilient growth and solid margins,” said Pandora CEO Alexander Lacik. “Our investments in lifting the brand are paying off with good performance in our Moments bae business and strong results from the newer platforms, Timeless and Pandora ME. It’s clear that we are increasingly the jewelry brand of choice, particularly for gifting occasions.”

Image: A Pandora store in Shanghai, China. (Shutterstock)

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E-commerce giant eBay has unveiled a “Certified by Brand” program, allowing companies that offer luxury items to partner directly with the online marketplace.

Through this program, top brands can offer new, certified pre-owned, limited-edition or exclusive “only on eBay” inventory, the company said Thursday. Certified by Brand includes watches, handbags and fine-jewelry products. It is currently limited to labels and buyers in the US, with plans for expansion to other regional markets.

The site will list items as either “Direct from Brand” or “Brand Authorized Seller,” including consistent badging and information for each category, it added.

Luxury companies that partner with eBay will also gain access to consumer insights from the selling platform’s global network of buyers and will be able to influence pricing of their brand inventory within the secondary market, eBay said. In addition, these brands and brand-authorized sellers will be able to control their brand equity and image with access to eBay platform channels to amplify their own messaging.

Labels already signed up include Alberto Milani, Alor, Badgley Mischka, Diana M., Ernst Benz, I.Reiss, Judith Ripka, Konstantin Chaykin, Le Vian, Lika Behar Collection, Perrelet, RPaige, Roman+Jules, Vianney Halter and Zodiac Watches.

All watches come with a minimum one-year warranty, and jewelry and handbags include a certificate of authenticity with purchase. The initiative is separate from eBay’s “Authenticity Guarantee” launched in the US in 2020.

As the secondary market for luxury continues to attract buyers, high-end brands are being pushed into the resale space. To compete, some have partnered with other companies, eBay said. This program provides these luxury sellers access to eBay’s 133 million active buyers.

Citing its own numbers, eBay says that sales of watches, handbags, jewelry and sneakers have seen annual double-digit rises since the fourth quarter of 2019.

Image: A collection of some of the jewelry and watches that are part of the Certified Brand program. (eBay)

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Signet Jewelers is set to introduce a jewelry-rental initiative at its Zales banner that will allow consumers to borrow and return up to 36 lab-grown diamond pieces for special occasions.

The program, called Zales x Rocksbox, will initially debut in 28 stores, with plans to expand to more locations throughout the summer and fall, Signet said Monday. The retailer — which also owns Kay Jewelers, Jared and online giant James Allen — is considering the option for its other banners, based on the results of the Zales pilot, it noted.

Zales x Rocksbox will offer 36 products, including necklaces, bracelets, earrings and rings, ranging from $1,000 to $10,000. Customers can rent an item for 14 days at 10% of the retail price. If shoppers want to keep an item after the rental period is over, they have the option of buying it, with the rental fee put towards the purchase price, Signet explained.

The jeweler believes the new rental option will open a new customer base for its banners.

“We hope it’ll attract a different segment of consumers as it helps make fine jewelry more accessible to the masses, as well as give our existing clientele an additional reason to visit,” a company spokesperson said.

The technology for the program will be provided by Rocksbox, a jewelry-rental site Signet acquired in April 2021 as a means to reach younger customers. The initiative is not the first co-branding option for the jeweler. In November 2020, it debuted Jared x James Allen, a hybrid that saw products from its online banner, James Allen, being offered in its brick-and-mortar Jared shops.

Image: A collection of lab-grown diamond jewelry available for rental at Zales. (Signet Jewelers)

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