Jewelry Market

Jewelry Market - NEWS JEWELERS CAN USE NEWSGEMS Clearing...

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NEWS JEWELERS CAN USE NEWSGEMS Clearing debris a souvenir sho| in Matsushim Miyagi, Japan Japan Disaster May Affect Jewelry Market BY ROB BATES Given its heavy involvement with Japan, the jewelry industry reacted in shock and horror to the March 11 Great Eastern Japan Earthquake and subse- quent tsunami. No member of the industry was known to be hurt in the events. On March 14, Avi Paz, president of the World Federation of Diamond Bourses, issued a statement saying that as far as he knew, every member of the Japanese diamond trade was out of harm's way. owns 55 stores in Japan, said all its employees were "safe and accounted for," although Tiffany's stores in the Kanto and Tohoku regions did close temporarily. One store, located near the earthquake's epicenter in Sendai, was damaged. Tiffany director of investor relations Mark Aaron toldJCK. Pearl producer Mikimoto siiid on its website it had "confirmed the safety of all Mikimoto employees in Japan. Miki- moto stores, buildings, factories, and facilities, including our pearl farm, have not sustained major damage." On a business level, many thought the tragic events would have serious reper- cussions. Shares of luxury companies like LVMH, Tiffany, and Richemont all fell in the days following the earthquake. The New York Times on March 24 reported that many traditionally ICE QUEEN Five iconic jewels owned by Dame Elizabeth Taylor that we'd like to see at Christie's upcoming sale of her historic collection:
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Jewelry Market - NEWS JEWELERS CAN USE NEWSGEMS Clearing...

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