De Beers Diamond Jewellers Unveils 'Imaginary Nature' in Asia

Rapaport ... De Beers Diamond Jewellers unveiled its jewelry collection, Imaginary Nature, for the first time in Asia today. The event was attended by award-winning actress, Gigi Leung and Taiwanese actress and model Bianca Bai. 

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De Beers stated that the Imaginary Nature collection exhibits a journey of light, where heightened imagination meets natural beauty with diamonds.

 

 

Francois Delage, the chief executive of De Beers Diamond Jewellers, said, "We wanted, through Imaginary Nature, to truly Establish our legitimacy as a jeweler and to express our vision through a strong creative and contemporary gesture. Our unique designs inspired by our DNA bring to life our brand essence - 

 

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The Jeweller of Light - by creating exquisite pieces, moments and movements from a journey from earth to light. The eight one-of-a-kind creations sublime mastery our diamond and jewelry know-how, and we are now delighted to unveil them in Asia. "

 

 

Each piece Imaginary Nature balances the contrasts of the natural world with the drama of an ascent and the grace of limb, according to De Beers. These contradictions are rich Conveyed through an array of diamond cuts and settings. Radiant pear-cut diamonds were set on a tilt in a way to engage light and trace movement. By contrast, the definite angles of the round brilliant diamonds baguettes against punctuate each piece with tradition and brilliance.

 

Leung (pictured) said, 

 

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"It is so refreshing to see a contemporary take on high jewelry, the three-dimensional aspect and the interplay of light between different diamond cuts is truly unique."

 

 

Hollie Bonneville Barden, the jewelry designer, added, "Imaginary Nature represents an exhilarating yet elegant display of evolution,

 

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 inspired by the beauty of transformations within nature, Which are realized in a story of metamorphosis. Each piece reveals a unique gesture inspired by the essence of nature. With the diamond as our muse, the collection is centered on diamonds of character, focused on pears and baguettes to create a language of movement and fluidity. "

 

Entrepreneur hopes designs attract celebs at MTV's VMAs

LINDA Bustos nie träumen lassen, ihren Schmuck in Geschenktüten, die MTV Nominierten gegeben werden würde sehen sein.

 

Der Westen Vancouverite hofft, dass mit ihrem Produkt Prominenten in den Tagen um MTV Video Music Awards Donnerstag verteilt wird ihre neue Kunden zu bringen.

 

"Ich würde liebend gerne meine Sachen kursieren in Vancouver mit Menschen die Wahl, es zu tragen und zu lieben, es zu tragen", sagt Bustos.

 

Bustos wurde eingeladen, 40 Halsketten für Nominierten, 20 für Männer und 20 für Frauen zu machen. Die Ketten strahlen ihre gotische viktorianischen Stil.

 

Bustos sagt ihr Halsketten in Geschenk-Körbe an Nominierten Hotels oder deren Management von einer Firma namens Hollywood Baskets aufgenommen werden. 

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Und während diese nicht die offizielle VMA Beute Beutel, nicht Bustos hoffen, etwas Social Media Buzz auf Facebook oder Twitter zu ihren Schmuck und ihre Online-Shop auf Etsy.com genannt Robin Hood Couture zu sehen. Etsy ist ein Online-Shopping-Website auf handgeschöpftem oder Vintage-Stücken, wo Verkäufer eine Online-Boutique konzentriert.

 

 

Bustos würde am liebsten Sängerin Lana Del Rey in der Galaxie-and-Sterne Erlebnishotels Halsketten sie für weibliche Kandidaten gemacht zu sehen.

 

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 "Sie ist wie ein Indie-Mode Prinzessin", sagt Bustos, der von Del Rey denkt als Stil-Ikone.

 

 

Nachdem die Geschenke gegeben werden, Bustos sagt: "Ich werde mir auch Zeitschriften und halten mein Auge für das, was ist um den Hals."

 

Bustos macht den Schmuck selbst und sieht es als einen angenehmen Weg, um nach der Arbeit zu entspannen. Sie hat einen Bachelor of Business Administration von Capilano University und arbeitet für ein Software-Unternehmen, Elastic Path, schriftlich ihrem Blog.

 

Die Idee für ein Online-Schmuck-Shop kam Bustos im September 2010. Sie öffnete ihre Etsy Shop im November desselben Jahres.

 

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 "Der Grund, warum es heißt Robin Hood Couture ist, dass Sie nicht finden können, eine Menge von Old World, mittelalterlichen, viktorianischen suchen Dinge in dem Einkaufszentrum.

 

 

"Ich bin nicht eine trendige Person, ich die Art von Dingen, die Ich mag zu tragen, damit ich was war, was vor allem für mein Stil", sagt Bustos. "Ich mag es schwarze Rosen, filigrane verwenden, wie ich zu spielen, um mit stimmungsvollen Aussehen und versuchen, sie hübsch."

 

Die Preise reichen von $ 18 bis $ 36 auf Etsy. Bustos Schmuck verkauft auch in Boutiquen in Victoria und Sibirien und haben auf der Landebahn auf Eco Fashion Vancouver Woche erschien.

 

Die Mode-Unternehmer auch eine besondere Kette für ein Kinderdorf Heart Network Spendenaktion konzipiert.

 

Bustos, sagt einer der lohnendsten 

 

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Teile ihres Geschäfts mit Kunden interagieren und hören ihre Geschichten.

 

Sie erwähnt einen letzten Auftrag für zwei Ketten, die jeweils mit einem Engel Flügel und einer kleinen Perle. Der Kunde, der gerade ihre Mutter Multiple Sklerose verloren hatte, customordered die Halsketten für sich und ihre Schwester. Die Flügel stellen die Schwestern ihrer Mutter am Krankenbett, während die Perle war ihre Mutter birthstone. Bustos sagt, "erzählte sie mir, haben Sie keine Ahnung, wie die Heilung der Prozess der Kommissionierung Gedenkstätte Schmuck wurde zu haben."

Texas Lawsuit Over NBA Player's $ 100K Buy Jewelry

DALLAS (CBSDFW.COM / AP) - Professional basketball player, Lance Thomas, who spent time with the NBA's Developmental League team in Austin, is being sued for nearly $ 100,000 of jewelry he allegedly purchased while in college.

 

A New York firm that caters to professional athletes filed the lawsuit in Austin and Claims Thomas bought the jewelry. In the middle of his senior year, the same year he started for Duke's 2010 national championship team

 

Thomas purchased five pieces of diamond jewelry at a cost of $ 97.800 on May. 

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21, 2009, according the lawsuit. Documents included with the suit indicate he made a $ 30,000 down payment and received $ 67.800 in credit from the firm, the balance that remains unpaid.

 

 

Thomas started 39 games at forward during the 2009-2010 season, including the Blue Devils' 61-59 victory over Butler in the championship game. He was not drafted by an NBA team but played last season for the New Orleans Hornets.

 

 

 

The Associated Press recently

 

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 Obtained a copy of the lawsuit, Which was filed in January, but has not been publicly disclosed.

 

 

A Duke spokesman said the university knows about the lawsuit and is looking into it.

 

"We have been made aware of a lawsuit filed by a jeweler against former men's basketball player Lance Thomas and we are currently looking into the matter," said Jon Jackson, the school's associate athletic director for media relations.

 

NCAA spokeswoman Stacey Osburn said the organization is therefore aware of the matter and is in communication with Duke.

 

NCAA rules regarding amateurism prohibit athletes from receiving benefits that are not available to all students. Speaking generally, Osburn said "the test" for such a violation is whether "the general student body, or someone similarly situated, would be able to get the same benefit or treatment."

 

Thomas, 24, is from Scotch Plains,

 

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 NJ, and played at prep power St. Benedict's, according to his biography on the Duke website. The site said his mother is a manager at a Ford plant in New Jersey.

 

 

Mike Bowers, the firm's attorney, said Thomas purchased a black diamond necklace, a diamond-encrusted watch, a pair of diamond studs, a diamond cross and a black diamond pendant in the shape of Jesus' head. According to the purchase order, signed by Thomas, the player agreed to pay a deposit of at least 25 percent of the purchase price and the remainder in 15 days.

 

Bowers said he was unaware of how Thomas made the required down payment.

 

Bowers said he's seen no evidence that anyone other than Thomas was involved in the transaction and he does not know why the Duke player was extended credit for most of the purchase.

 

"It was a clean, clear-cut transaction between Mr.

 

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 Thomas and my client, and I do not see anything that warrants me asking anything beyond that," Bowers said. "Speaking hypothetically, if he came in on a bicycle with tattered jeans, I seriously doubt he would have been sold jewelry, but I'm not drawing conclusions. The terms here are clear. "

 

Rafaello & Co. filed a similar lawsuit against Dallas Cowboys receiver Dez Bryant last year, claiming he had not paid $ 240,000 for jewelry he purchased between January and May 2010. The purchases detailed in that suit, Which has since been settled, occurred after Bryant announced he was leaving Oklahoma State and was entering the 2010 NFL draft.

Titan in Diamond Jewelry Push to Protect Profit: Corporate India

Titan Industries Ltd.. (Ttan), India's largest maker of branded jewelry by market value, plans to expand sales of diamond adornments to shield profit margins as the rising cost of gold crimps demand for the precious metal.

 

The company wants to focus on premium products, including watches, as the slowest pace of economic growth in three years dents earnings from its consumer goods examined as Sonata watches and fashion accessories, Managing 

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Director Bhaskar Bhat said in an interview with Bloomberg TV India. The company is spending 2 billion rupees ($ 36 million) this year to increase retail space and manufacturing, he said.

 

 

"We need to address these low-growth periods, so what we are doing is Pursuing profitable opportunities," Bhat said. "It's really the diamond jewelry sales that we are pushing. If the growth on the diamond side is higher, your margins are better and Therefore profits are achieved. "

 

Shares of Bangalore-based Titan have retreated 9.5 percent from their April 4 record as demand for jewelry in India, the world's biggest buyer 

 

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of gold tumbled 30 percent load quarterback. Sales of diamond jewelry in India are set to rise 16 percent in the five years to 2015, twice as annually fast as the 7 percent growth predicted for adornments made of the yellow metal, according to a study by New Delhi-based consultants AM Mindpower Solutions . Prices of the gems have dropped this year.

 

 

Import Duty

Gold in Mumbai has risen 15 percent this year as the government,. In a bid to curb imports and purely in a record current-account deficit, doubled the duty in March to 4 percent on coins and bars Inbound shipments slumped 56 percent in the second quarter after touching a record 969 tons in 2011.

 

Policy makers may increase the levy for a third time this year,

 

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 curbing demand for the metal, according to Prithviraj Kothari, president of the Bombay Bullion Association.

 

 

In contrast, internally flawless, one-carat diamonds have dropped 11 percent this year after climbing 26 percent in 2011, according to data compiled by Bloomberg.

 

"With the price of gold going up, buyers no longer feel that diamonds are expensive," said Rajiv Jain, chairman of the government-backed Gem & Jewellery Export Promotion Council, Mumbai. "Diamond is more of fashion and is a security when it is more than one carat. It is a good investment. "

 

Bain & Co. estimates global demand for rough diamonds will climb more than 6 percent annually this decade, exceeding growth in supply.

 

Significant Decline

The Tata Group venture, set up in association with Tamil Nadu Industrial Development Corporation.

 

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 in 1984 to make watches and compete against state-owned HMT Ltd.. (HMT), is finding ways to boost earnings as inflation and slowing growth threaten to shrink disposable income in the $ 1.8 trillion economy.

 

 

Demand for coins and bars for investment slid 51 percent from a year earlier quarter load, the World Gold Council said in a report on Aug. 16th

 

"Certainly investment demand has come down, and we have not had such a significant decline in market sales," Bhat said. "When people had extra money, they were parking it in gold, and I do not think they are doing that anymore. The tendency is not to park significant sums. "

 

India's GDP rose 5.4 percent in the first half of 2012, the smallest gain since 2009, even as consumer price inflation Remained the fastest among the four biggest emerging economies of Brazil, Russia, India and China.

 

Jewelry Accounted for 79 percent of Titan's sales in the year ended March 31, while watches made up for about 17 percent, with the rest coming from the company's eyewear and precision engineering businesses, according to data compiled by Bloomberg. The company controls 5 percent of India's jewelry market, Which is fragmented and dominated by family businesses, Bhat said.

 

Bridal Trousseau

Gold jewelry sales in India may reach $ 41.3 billion by 2015, Compared with $ 9.5 billion for diamond ornaments, according to estimates by AM Mindpower Solutions. In India, gold is traditionally bought during the festival season, and on auspicious days for weddings as part of the bridal trousseau.

 

Sixteen of the 31 analysts who track Titan Industries, recommend buying the stock, while eight rate it a sell and seven a hold, according to data compiled by Bloomberg. The shares have risen 32 percent this year to 225.65 rupees after reaching 249.25 rupees on April 4, the highest closing price on record.

 

A weakening rupee adds to the "landed cost" of gold, making it even more expensive and reducing sales volume, said Kaustav Kakati, in at Proactive Universal Group analyst with Mumbai. He recommends holding the stock with a 12-month target price of 249 rupees.

Bonhams Hong Kong offers stunning gems from jeweler to the stars Van Cleef & Arpels

An important collection of eight exquisite jewels will be offered by Bonhams in Hong Kong on 23rd November 2012. Entitled "Eight Exceptional Jewels from a Private Collection", the sale showcases magnificent gemstones and four superlative jewels by legendary jeweler, Van Cleef & Arpels.

Van Cleef & Arpels have a long tradition of expertise, having first established their business in the fashionable Place Vendôme in Paris in 1906. 

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The boutique soon became a must-visit destination for anyone with pretensions to chic and over the following decades, Van Cleef & Arpels became the place to shop for stunning pieces to celebrate life's more memorable moments.

 

It was here that the Prince of Wales, Wallis Simpson bought the sapphire-and-diamond clip and bracelet, Which she wore to set off her blue satin wedding gown Mainbocher. Prince Rainier ordered the pearl-and-diamond necklace with matching bracelet and earrings on his commitment to Grace Kelly and John F.

 

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 Kennedy found the emerald-and-diamond ring he slipped on the third finger of Jacqueline Bouvier's left hand. Movie stars from Dietrich and Garbo to Elizabeth Taylor, and political style icons, seeking as Eva Perón (who commissioned a brooch of the Argentine flag), all possessed at least one, if not more, Van Cleef gem in their jewelry boxes.

Lot 6, a magnificent ruby ​​and diamond bracelet strap,

 

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 Which is recorded in Van Cleef & Arpels' archive as being made in 1936, was once in the collection of glamorous philanthropist and leader of pre-WW2 French Riviera society, Madame Hélène Beaumont. Set with 107 carats of fine-quality rubies, the bracelet is remarkable for its outstanding supple and ribbon-like craftsmanship and is estimated at £ 284.000 to 340.000 (HK $ 3,500,000-4,200,000).

 

Between 1959 and 1961, twenty-two were perfectly matched emeralds sought by Van Cleef & Arpels to make a sumptous collar necklace. The result was Lot 7, composed of 22 PRECISELY matched emeralds weighing, 47 carats, 

 

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and 412 diamonds with a total weight of more than 70 carats. The necklace was last seen at auction in 1975 where it fetched the staggering sum of CHF 1,000,000. With an estimate of £ 640.000 to 960,000 (HK $ 7,750,000 - 11,650,000) it is one of the key highlights in the Hong Kong sale.

 

In 1969, Jacques Arpels traveled to Ceylon (Sri Lanka) in person to acquire a 43.16 carat sapphire, a perfectly crystalline, flawless stone that was Subsequently mounted in a ring and flanked by two pear-shaped diamonds. This ring, lot 8, is estimated at £ 350.000 to 420,000 (HK $ 4,250,000 - 5,000,000) Demonstrates the jeweler's expertise in sourcing stones of extraordinary depth and quality.

Matthew Girling, chief executive of Bonhams said "What is Particularly exciting is that it's incredibly unusual to know PRECISELY where a stone comes from. Here we have documented evidence that the sapphire was selected by Jacques Arpels himself ".

Oxford police say jewelry store owner fired at alleged robber

OXFORD - A jewelry store owner fired a gunshot at an alleged robber in his store this afternoon before police arrested the assailant, at investigator said.

 

Oxford police charged Dimitri Narrio Lawler, 19, of Anniston, with attempted robbery of Stinson and Howard Fine 

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Jewelry on the corner of Main and Choccolocco streets in downtown Oxford. Police arrested Lawler a few blocks away from the shop near Martin Luther King Drive just before 1 pm

 

 

Oxford police Lt.. L.G. Owens said Lawler was armed when he entered the store around 12:30 pm The store's owner did not fire a single shot,

 

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 and Lawler fled. No one else was in the store at the time and Lawler was not hit, Owens said.

 

Owens said several residents called police to report they'd seen the suspect flee the jewelry shop,

 

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 while calls from construction workers renovating the old City Hall nearby alerted police to the sound of gunfire in the area.

 

 

A bullet hole was visible in a window of the store facing Main Street after the incident.

 

Owens did not release the store owner's name,

 

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 but said the shop is locally owned by three brothers.

 

 

 

Read more: Anniston Star - Oxford police say shots Exchanged in attempted robbery of jewelry store

Tiffany Reports Growth in Rough Diamond Sourcing

Tiffany & Co. (NYSE: TIF) reported that its second quarter in the Company earned $ 92 million, or $ 0.72 per diluted share, on net sales worldwide of $ 887 million. Results were in-line with management's expectations.

In the three months ("second quarter") ended July 31, 2012:

Worldwide net sales of $ 887 million were 2% above the prior year. On a constant-exchange-rate basis that excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see "Non-GAAP Measures" schedule),

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 worldwide net sales increased 3% and Comparable store sales declined 1%.

 

Net earnings rose 2% to $ 92 million, or $ 0.72 per diluted share, versus $ 90 million, or $ 0.69 per diluted share, in 2011's second quarter.

Net earnings in the second quarter of 2011 had been reduced by $ 21 million, or $ 0.16 per diluted share, for nonrecurring items related to the relocation of Tiffany's New York headquarters staff (see "Non-GAAP Measures" schedule). Excluding those costs, net earnings in the second quarter declined 17% from 2011's second quarter.

In the six months ended July ("first half") 31, 2012:

Worldwide net sales increased 4% to $ 1.7 billion. On a constant-exchange-rate basis, worldwide net sales and Comparable store sales rose 5% and 1% respectively.

Net earnings Increased 1% to $ 173 million, or $ 1.36 per diluted share, from $ 171 million, or $ 1.32 per diluted share, a year ago.

Net earnings in the first half of 2011 had been reduced by $ 26 million, or $ 0.20 per diluted share, for nonrecurring items related to the headquarter staff relocation. Excluding those costs, net earnings in the first half were 12% below the prior year.

Michael J. Kowalski, chairman and chief executive officer, said, "These second quarter results met the expectations contained in our previously-reported financial guidance. Not surprisingly, sales growth has been affected by economic weakness in a number of markets and by a very challenging prior-year comparison to a 30% increase in worldwide net sales. So we anticipated reduced the operating margin in the quarter, adjusted for nonrecurring items, due to continued, but moderating, high product input costs and a lack of sales leverage on fixed costs. The resulting decline in net earnings, when Compared with last year's earnings excluding nonrecurring costs what. In line with our expectations and was on top of a 58% increase in last year's second quarter "

Net sales highlights were as follows:

Sales in the Americas region declined 1% to $ 434 million in the second quarter and rose 1% to $ 820 million in the first half. On a constant-exchange-rate basis, 

 

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total sales were unchanged in the quarter and rose 2% in the half, on that basis, comparable store sales declined 5% in the second quarter and 3% in the first half (sales declined 9% and 7%) in the New York flagship store while branch Comparable store sales declined 4% and 2%. In last year's second quarter, comparable store sales on a constant-exchange-rate basis had Increased 41% in the New York flagship store and 19% in branch stores. Combined Internet and catalog sales in the Americas rose 3% in the second quarter helped (on top of a 16% increase last year) and 2% in the first.

 

In the Asia-Pacific region, total sales rose 1% to $ 174 million in the second quarter and helped 8% to $ 369 million in the first. On a constant-exchange-rate basis, total sales increased 3% and 9% in the quarter and half, while Comparable store sales declined 5% in the quarter (on top of a 41% increase last year) and rose 2% in the helped, due to mixed performance across the region.

In Japan, total sales increased 11% to $ 159 million in the second quarter and 13% helped to $ 300 million in the first. On a constant-exchange-rate basis, both total sales and Comparable store sales r ose 10% in the quarter and helped Increased 11% in the; Comparable sales had stor e Increased 8% in last year's second quarter.

Sales in Europe declined 1% to $ 100 million in the second quarter and helped Increased 1% to $ 188 million in the first. On a constant-exchange-rate basis, total sales increased 8% in both the quarter and first half; Comparable store sales increased 2% in the quarter (sales growth in overall continental Europe was mostly offset by relative softness in the UK) on top of an 11% increase last year, and rose 1% in the half.

Other sales increased 12% to $ 20 million in the second quarter. During the quarter, five TIFFANY & CO.. stores in the United Arab Emirates (three in Dubai and two in Abu Dhabi) were converted from unabhängig-operated distribution to Company-operated retail stores. Other sales rose 3% helped to $ 28 million in the first.

The company added nine stores in the second quarter: in Mexico City, Shanghai and Nanjing, China and in Nice, France, and commenced Operation of the five stores in the UAE At July 31, 2012, the Company operated 260 stores (106 in the Americas, 

 

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61 in Asia-Pacific, 55 in Japan, 33 in Europe and five in the UAE), Compared with 236 stores (98 in the Americas, 52 in Asia -Pacific, 55 in Japan and 31 in Europe) a year ago.

 

Other financial highlights:

Gross margin (gross profit as a percentage of net sales) was 56.3% in the second quarter and 56.8% in the first half, Compared with 59.0% and 58.7% in the respective 2011 periods. The year-over-year declines Largely resulted from higher product acquisition costs, as well as reduced sales leverage on fixed costs.

SG & A (selling, general and administrative) expenses declined 8% in the second quarter, and in the first half were approximately equal to the prior year. However, excluding nonrecurring costs related to the relocation of Tiffany's New York headquarters staff in 2011's second quarter, SG & A expenses Increased 1% in the qua rter due to higher store occupancy costs mostly offset by the timing of marketing spending, and rose 6% in the half due to higher store occupancy and labor costs.

Other expenses, net of $ 14.3 million in the second quarter were $ 9.6 million higher than in the prior year, with the largest portion of the increase related to higher interest expense. Other expenses, net of $ 24.8 million in the first Compared with $ 19.8 million in the prior half year.

The effective income tax rate was. 34.6% in the second quarter, versus 31.2% a year ago when the company had reversed a valuation allowance against deferred tax assets Certain The effective rate was 34.5% in the first half, versus 33.4% a year ago.

Cash and cash equivalents and short-term investments Totaled $ 367 million at July 31, 2012, versus $ 565 million a year ago. Short-term and long-term debt Totaled $ 940 million at July 31, 2012 and Represented 39% of stockholders' equity, Compared with $ 694 million and 29% a year ago. During the second quarter, the Company issued $ 250 million of senior notes with a 4.40% coupon and principal payments due over a 10 to 30-year period. A portion of the proceeds was used to repay in full $ 60 million of 6.56%

 

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 senior notes that matured in July and the remainder is for general corporate purposes including Initially reducing short-term indebtedness under the revolving credit facility.

Net inventories of $ 2.2 billion at July 31, 2012 were 21% higher than a year ago, due to approximately equal rates of growth in both finished goods and raw material in combined and work-in-process inventories. This reflected higher product acquisition costs, new store openings, growth in rough diamond sourcing and internal manufacturing, and expanded product assortments.

Mr. Kowalski added, "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 so being pressur ed by the Increases strong we experienced last year. At the sametime, we are determined to further Strengthen Tiffany's competitive position by expanding our store and customer base and introducing new designs enticing, all Intended to generate solid long-term financial performance. "

Outlook for 2012:

For the full year ending January 31, 2013, management expects net earnings of $ 454 - $ 473 million, or $ 3.55-$ 3.70 per diluted share, Compared with the previous forecast of $ 3.70-$ 3.80 per diluted share. Management continues to expect earnings to decline in the third quarter followed by a resumption of growth in the fourth quarter. This expectation is based on the following assumptions (which are approximate and may or may not prove valid):

a) Worldwide net sales (in U.S. dollars) increasing 6-7% versus the previous expectation calling for 7-8% growth, due to a moderation in assumed fourth quarter sales growth.

b) Adding a total of 28 Company-operate d stores including 13 in the Americas, eight in Asia-Pacific, two in Europe, and commencing Operation of five stores in the United Arab Emirates. This includes 13 stores that were already added in the first half of the year.

c) The operating margin below the 20.6% Achieved in 2011 (excluding nonrecurring costs) due to a decline in the gross margin.

d) Interest and other expenses, net of approximately $ 52-54 million.

e) An effective income tax rate of 34-35%.

f) In addition, management expects net inventories to increase 10% in the full year, unchanged from the previous forecast, and expects capital expenditures of $ 230 million, versus a previous forecast of $ 240 million.

Lindsay Lohan Is Now Officially A Suspect In Jewelry Theft

Lindsay Lohan has been officially named as a suspect in a recent jewelry theft, according to The Daily Mail. Although police originally told Lohan that she was not a suspect in the case, it would seem they've had a sudden change of heart. Not only has the troubled Hollywood actress been named as a suspect, her assistant is being investigated by police as well. Wherever Lindsay goes, trouble always seems to follow.

 

TMZ reports that the whole sordid affair began during a party in the Hollywood Hills, a shindig that was attended by Lohan and a few of her friends, 

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who may or may not have been invited. Instead of going home at the end of the evening, Lindsay decided to simply crash at the house for the night. The following morning, the owner claimed that some jewelry had turned up missing, and the police were promptly summoned to the property.

 

 

Although the home owner, Sam Magid, did not believe that Lohan had stolen anything, he could not say the same for the gentlemen she brought to the party. 

 

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The actress, of course, denied taking the jewelry. When asked if she was as suspect in the theft, an officer reportedly told Lohan that she was free to go.

 

 

According to TMZ, assistant police have named both Lindsay Lohan and her,

 

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 Gavin Doyle, as suspects in the case. Although Magid has since recanted his statement regarding the $ 100,000 worth of stolen goods, authorities are not so quick to close the case. Sources told the celebrity gossip website that police may have independent witnesses who can testify that Lohan and Doyle are the culprits.

 

 

This is not the first time Lohan has been accused of stealing things that do not belong to her. Last May, the actress was sentenced to 120 days in jail for stealing a 

 

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$ 25,000 necklace from a Los Angeles boutique. Although Lindsay claimed the jewelry was a loaner, she ultimately pleaded no contest to the charges.

 

Thieves wipe out Pt. Charlotte jewelry store inventory

PORT CHARLOTTE, Fla. -. The owner of The Jewelry Store, Paul Mosher, says he had the largest inventory of jewelery in Charlotte County, and that's why he may have been targeted.

 

"Jewelry is a hot market, hot commodity next to oil, 

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gold, diamonds ... why not," he said.

 

 

For more than six hours Tuesday, Charlotte County's forensic sciences unit scoured the jewelry store, inside and out, looking for evidence. This is the third time the store has been hit, but investigators Tellows believe the crimes are connected.

 

Mosher said, 

 

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"The two others were smash and grabs, break a window, and take whatever is in the case."

 

 

Mosher has been a fixture in Port Charlotte for 15 years. He sells new and used jewelry and does repairs, but after last night's burglary he says he's virtually wiped out.

 

"It is tough. This one is going to hurt us really bad,

 

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 but it is our customers that keep us going," he said.

 

 

For now, he's doing a complete inventory to deter mine exactly what is missing and how much it wants to put him in the red.

 

"We will persevere. We have done it before. 

 

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We will pick back up and start all over," said Mosher.

 

 

Cameras were rolling inside when the burglary was going down. It is the hope that surveillance video will help solve this crime.

Jewelers of America to Study Conflict Minerals Rule

Jewelers of America (JA), the national trade association for businesses serving the fine jewelry retail marketplace, is reviewing the Securities and Exchange Commission's final rule to implement the conflict minerals commission within the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Commission voted to adopt the rule yesterday.

"Jewelers of America is in the process of reviewing the SEC's final rule conflict minerals," says Matthew A. Runci, JA President & CEO. 

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"While we must study the rule more closely in the coming days, we are Initially encouraged by the Commission's decision to not include automatic reporting of recycled minerals and to adopt a phased-in approach for Determining whether or not minerals come from conflict sources."

 

Jewelers of America strongly believes in the goals of the law and fully condemns the use of any minerals to fund confl ict in the DRC, in its adjoining countries or anywhere in the world.

The rule requires Certain companies to disclose their use of conflict minerals, including gold, from the Democratic Republic of the Congo (DRC) on or adjoining country. 

 

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While the rule directly Applies to publicly traded companies, Jewelers of America Believes its impact will be felt throughout the gold jewelry supply chain and beyond.

 

While compliance is quietly expected to be difficult and costly, the SEC did respond to input from Jewelers of America and other industry associations, who had jointly submitted comments to the Commission.

SOME KEY POINTS FROM THE FINAL RULE:

Companies must file their first report on May 31, 2014, for the 2013 calendar year and annually on May 31 every year thereafter.

Companies that use recycled or scrap metals are not automatically required to c onduct due diligence or file a conflict minerals report.

 

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 They will ha ve to perform a reasonable inquiry to assure it is in fact recyclable and therefore "DRC conflict free."

 

The regulation Applies to companies that "contract to manufacture" a product and has some actual influence over the manufacturing of that product. Companies that Merely attach their brand or label to a generic product manufactured by another company are not covered.

There is a phase-in period of two-to-four years (depending on the size of a company), where firms will be able to use the determination "DRC conflict undeterminable" if they can not determine Whether or not the minerals in their products came from one of the countries covered or contributed to conflict in those countries

 

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. No audits would be required for products with this determination.

 

Existing stocks of refined gold are exempt from the rule if they are "outside the supply chain" prior to January 31, 2013. Gold is considered "outside the supply chain" if it "has been fully refined" or after, even if not yet refined, it is located outside the DRC and adjoining countries.