While the Pink Star sets a new record of $71.2M at jewelry sales, an independent retail forecast predicts a 6.8% fall in profits for the first quarter…
Feature: Alternative Metal Jewelry
Titanium rings by Edward Mirrell.
Photo courtesy of Debbie Yonick.
Expectations for 2017 were hopeful at the beginning of the year as the slow but gradual growth in business in the past a few years observed and interest in fine gems increased. There is strong competition for the consumer. Retailers are more open to include unusual and less known gemstones to their inventory to keep the consumer enticed.
Two tiers of the market—high-end and low-end are quite active. Sales of extraordinary stones and jewelry are strong and record amounts are spent at the auctions, like the Pink Star at Sotheby’s Hong Kong sale. However, retail reports are showing significant closures of jewelry stores, mostly individual small operations. Overreliance on….Download The Full Article