Jewellery Roundup July 2008 18th July 2008
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Kwiat, the diamond jewellery designer, was recently chosen to provide the pieces for the NBC Today Show, "Today Throws a Wedding". The couple who got married exchanged a pair of platinum and diamond wedding bands for the event. They were from the 'Fidelity' collection and the rings had two bands of platinum running next to each other with diamonds placed into the ladies' piece. The bride also received a pear shaped necklace, a bracelet and a pair of earrings, all made of platinum.
The Women's Jewellery Association (WJA) announced the winners of its 12th Annual DIVA Awards design competition. Sponsored by Platinum Guild International (PGI), the event featured jewellery designed around the theme of 'The Platinum Wedding'. The winners included Lisa Krikawa's Delicate Leaf Wedding Set in platinum and diamonds that was the best in the Every Day Bridal Ring category.
Luk Fook Holdings has revealed that it will increase its expansion in China and hopes to make 50 per cent of its market in the mainland. The Hong Kong based firm will also increase the number of its branded stores at an annual rate of 20 per cent in the next few years. Law Tim-Fuk, Chief Financial Officer, told the Xinhua news agency that the market will present lots of opportunities.
Many people attended a concert in London to celebrate the birthday of Nelson Mandela this July. In addition to the huge gig, which raised money for charity, there were 46664 platinum branded bangles developed by Coutts Incorporated. A total of 500 special edition bangles were produced for the event in London.
India and China have posted the highest growth in the number of millionaires with the most desired luxury items including gems and jewellery. According to reports from Agence France-Presse, the number of millionaires rose 22.7 per cent in 2007 to 123,000 in India, while the number of millionaires in China rose 20.3 per cent to 415,000.
July also saw the marriage of Black Eyed Peas singer Taboo. The rapper married fashion publicist Jaymie Dizon in front of 150 guests and the couple wore his and hers diamond and platinum bands. She had a platinum and diamond engagement ring designed by Neil Lane, according to People.
The jewellery market is experiencing a slow down due to the rising cost of precious metals and economic troubles. According to LA Downtown News, the district, which usually has a thriving jewellery market, is enduring hard times. Since January, the rise in the price of platinum and palladium have hit jewellers, with the price of platinum nearly doubling in the last 18 months.
A new collection of platinum and diamond pieces has been launched by Ganjam. The collection, named 'Riverdance', is inspired by the dancing flow of a river. The flow of the river is represented by platinum and diamonds representing the sparkle around the edge of the water. According to Ganjam, the pieces are designed in the style of many other international trends and feature different shapes and silhouettes.
Same sex weddings could generate a significant amount of income over the next three years, according to the Williams Institute on Sexual Orientation Law and Public Policy at the UCLA School of Law. Jewellers could benefit from the move to allow same sex weddings as more people will be looking to purchase rings. Platinum rings could benefit due to the fact that they symbolise a long and lasting commitment.
Hayden Panettiere was the latest celebrity to shine in platinum jewellery by Erica Courtney. Attending the ESPY Awards in Los Angeles this month, she wore a platinum and black diamond cocktail ring worth as much as $141,600.
The Daily Telegraph reported that top ten most valuable watches this month, with a platinum design rated as the most expensive. Designed by Patek Philippe, the 1939 Platinum World Time piece was sold in 2002 for nearly £2 million. It features a leather strap and has 42 countries engraved around the clock face to display times across the world.
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