July Figures Cast Cloud over US Retail Recovery

The US retail outlook is declining after the country’s economic recovery slowed in July amid a resurgence of coronavirus cases, according to the National Retail Federation (NRF).

“A lack of clarity regarding job outlook and future finances tends to influence spending behavior,” said NRF chief economist Jack Kleinhenz. “Coupled with that, uncertainty about further fiscal support from Congress is likely to cause consumers to shift more into saving their money and away from spending.”

The end of supplemental unemployment insurance benefits, which will result in many consumers losing income, could also disrupt retail sales, the NRF said.

While the US Census Bureau has not yet released monthly figures for July, the Federal Reserve Bank of New York’s Weekly Economic Index — a composite of 10 indicators that measure real-time economic activity — fell to -7.24% on July 25 from -6.65% on July 18. Officials at the bank have cited decreased retail sales as the main factor in the drop. The decline comes after US retail sales were up 8% in May compared with the previous month, and rose another 6% in June, NRF data showed.

Meanwhile, The Conference Board’s Consumer Confidence Index, which assesses consumer sentiment, fell to 92.6 in July from 98.3 in June.

“Such uncertainty about the short-term future does not bode well for the recovery, nor for consumer spending,” added Lynn Franco, senior director of economic indicators for The Conference Board.

Source: DCLA

July Figures Cast Cloud over US Retail Recovery

The US retail outlook is declining after the country’s economic recovery slowed in July amid a resurgence of coronavirus cases, according to the National Retail Federation (NRF).

“A lack of clarity regarding job outlook and future finances tends to influence spending behavior,” said NRF chief economist Jack Kleinhenz. “Coupled with that, uncertainty about further fiscal support from Congress is likely to cause consumers to shift more into saving their money and away from spending.”

The end of supplemental unemployment insurance benefits, which will result in many consumers losing income, could also disrupt retail sales, the NRF said.

While the US Census Bureau has not yet released monthly figures for July, the Federal Reserve Bank of New York’s Weekly Economic Index — a composite of 10 indicators that measure real-time economic activity — fell to -7.24% on July 25 from -6.65% on July 18. Officials at the bank have cited decreased retail sales as the main factor in the drop. The decline comes after US retail sales were up 8% in May compared with the previous month, and rose another 6% in June, NRF data showed.

Meanwhile, The Conference Board’s Consumer Confidence Index, which assesses consumer sentiment, fell to 92.6 in July from 98.3 in June.

“Such uncertainty about the short-term future does not bode well for the recovery, nor for consumer spending,” added Lynn Franco, senior director of economic indicators for The Conference Board.

Source: DCLA

Jacob & Co Billionaire ASHOKA Watch Features 189 Carats Of Diamonds

It’d take a pretty special kind of bloke to pull this one off. Even among the richest figures currently walking about on this Earth, I just can’t imagine a Bezos, Buffet, or Musk being able to wear the Jacob & Co Billionaire ASHOKA watch on their wrists without every single one of us scrunching up our faces. In any case, it’s very much real and priced at US$7 million.

Reportedly a new and improved update of Floyd Mayweather’s hella frosty 260 carat Jacob & Co Billionaire’s watch – which itself cost US$18 million – this revised iteration features over 189 carats of proprietary diamond cuts by William Goldberg. What’s so special about a William Goldberg ASHOKA diamond? As it so happens, less than 1% of all rough diamonds meet the criteria to even become an ASHOKA. In other words, what you see before you are the elite stones.

With a distinct rectangular shape highlighted by the skeletonised calibre JCAM09 tourbillon movement, this mind-numbingly opulent timepiece is comprised of 167 elements, 19 jewels, and brings a 72-hour power reserve to the table. The 19 jewels themselves have been divided into 62 individual examples to completely cover the case, bracelet, and clasp. But you didn’t need me to tell you where to look for ’em.

Naturally, an offering such as this will be ultra-exclusive. Given the rarity of ASHOKA diamonds in the world, only a single Jacob & Co Billionaire ASHOKA watch will ever be crafted.

Source: DCLA

Jacob & Co Billionaire ASHOKA Watch Features 189 Carats Of Diamonds

It’d take a pretty special kind of bloke to pull this one off. Even among the richest figures currently walking about on this Earth, I just can’t imagine a Bezos, Buffet, or Musk being able to wear the Jacob & Co Billionaire ASHOKA watch on their wrists without every single one of us scrunching up our faces. In any case, it’s very much real and priced at US$7 million.

Reportedly a new and improved update of Floyd Mayweather’s hella frosty 260 carat Jacob & Co Billionaire’s watch – which itself cost US$18 million – this revised iteration features over 189 carats of proprietary diamond cuts by William Goldberg. What’s so special about a William Goldberg ASHOKA diamond? As it so happens, less than 1% of all rough diamonds meet the criteria to even become an ASHOKA. In other words, what you see before you are the elite stones.

With a distinct rectangular shape highlighted by the skeletonised calibre JCAM09 tourbillon movement, this mind-numbingly opulent timepiece is comprised of 167 elements, 19 jewels, and brings a 72-hour power reserve to the table. The 19 jewels themselves have been divided into 62 individual examples to completely cover the case, bracelet, and clasp. But you didn’t need me to tell you where to look for ’em.

Naturally, an offering such as this will be ultra-exclusive. Given the rarity of ASHOKA diamonds in the world, only a single Jacob & Co Billionaire ASHOKA watch will ever be crafted.

Source: DCLA

AGS Lab to Resume Grading Lab-Grown Diamonds

American Gem Society’s (AGS) grading lab will again evaluate laboratory-grown diamonds, a service it began in 2012 and then stopped in 2013 due to a lack of business.

The new AGS Laboratories lab-grown reports are the product of more than a year of research, development, and consultation with its board. For the moment, they will be available only in digital form on the lab’s Only My Diamond platform.

“We just saw there was a need for a different type of report, where we clearly articulate what a laboratory-grown diamond is,” says Jason Quick, executive director of AGS Laboratories. “We wanted to provide full transparency.”

The reports will include a note on the method used to grow the diamond, whether it’s HPHT (high pressure, high temperature) or CVD (chemical vapor deposition), along with consumer-friendly explanations of those methods.

Unlike GIA, AGS is using the standard scale to grade the diamonds but is adding the designation “LG.” So a VS2 will be called “LG-VS2.”

The report includes a note: “It is important to note that the color and clarity grades do not reflect the rarity of the laboratory-grown diamond, but rather the quality and consistency of the manufacturing process.”

Explains Quick: “Even most graders can’t tell the different between a D, E, and F with their naked eye, but there’s a difference in rarity, so we have those grades. We wanted to draw attention to the fact that here these grades means something different.”

It will also offer its standard AGS cut grade scale, with the top rating of AGS Ideal.

All graded diamonds will receive two non-optional two girdle inscriptions. One will say “laboratory-grown”; and the other will say “laboratory-grown” and be accompanied by the AGS report number.

The reports will also look different than its standard reports, so they can’t be confused with the natural diamond reports, and the words laboratory-grown appear at least 10 times on the report, Quick says.

Source: DCLA

AGS Lab to Resume Grading Lab-Grown Diamonds

American Gem Society’s (AGS) grading lab will again evaluate laboratory-grown diamonds, a service it began in 2012 and then stopped in 2013 due to a lack of business.

The new AGS Laboratories lab-grown reports are the product of more than a year of research, development, and consultation with its board. For the moment, they will be available only in digital form on the lab’s Only My Diamond platform.

“We just saw there was a need for a different type of report, where we clearly articulate what a laboratory-grown diamond is,” says Jason Quick, executive director of AGS Laboratories. “We wanted to provide full transparency.”

The reports will include a note on the method used to grow the diamond, whether it’s HPHT (high pressure, high temperature) or CVD (chemical vapor deposition), along with consumer-friendly explanations of those methods.

Unlike GIA, AGS is using the standard scale to grade the diamonds but is adding the designation “LG.” So a VS2 will be called “LG-VS2.”

The report includes a note: “It is important to note that the color and clarity grades do not reflect the rarity of the laboratory-grown diamond, but rather the quality and consistency of the manufacturing process.”

Explains Quick: “Even most graders can’t tell the different between a D, E, and F with their naked eye, but there’s a difference in rarity, so we have those grades. We wanted to draw attention to the fact that here these grades means something different.”

It will also offer its standard AGS cut grade scale, with the top rating of AGS Ideal.

All graded diamonds will receive two non-optional two girdle inscriptions. One will say “laboratory-grown”; and the other will say “laboratory-grown” and be accompanied by the AGS report number.

The reports will also look different than its standard reports, so they can’t be confused with the natural diamond reports, and the words laboratory-grown appear at least 10 times on the report, Quick says.

Source: DCLA

Vasana Ratanasunya on her mission to make diamonds everyday jewellery

When Vasana Ratanasunya first set her mind on making VVS & Co. Bangkok a go-to name for every lady looking to enrich their life with a piece of diamond jewellery, she knew she had to take the path less trodden by others in the market in order to achieve her goal.

“There are lot of myths and mindsets when it comes to wearing, and even buying a piece of diamond jewellery,” she said during a dinner meeting with Prestige. “The most important issue, however, is that we measure the value of diamonds by the number of times we can wear them, so the easiest items to sell are some simple piece of earrings or bracelets because people think they can wear them as often as they could. That’s the mindset I want to change.”

A graduate in fashion, Vasana understands the rule of mix-and-match and proportion better than anyone. After her love for fashion has matured into a passion for precious stones that are forever, Vasana brings her own sense of style into bringing diamonds into everyday wardrobe. Her tricks? Go big when you dress down, go moderate when you dress for work, and go big for your evening.

“The problem with women who buy only small items thinking they can wear them often is that, you end up not having a good big piece to wear when you have to attend events like a gala dinner that requires an evening dress. That’s why I always tell people to go for a full matching set of diamond jewelleries instead of buying small pieces here and there. You have this big set for an evening occasion but for everyday, you can just wear a bracelet with your office look, or a pair of chandelier earrings with a t-shirt and denim on a day-out with friends. It’s just about mix-and-match!”

“Most importantly, you invest in this one set and it will become something you can pass on to your children. It has an emotional value that cannot be measured by money.”

Another ground-breaking approach Vasana has brought into the industry is her savviness in social media commerce. With the Covid-19 bringing a slow-down to international export — which previously contributed to the majority of sales for VVS & Co. — Vasana broke out of the crisis using online channels — most notably an Instagram live session which has received huge interests from fans and earned the brand a lot of new customers.

“I would say we are lucky in a way that the name VVS has been in the industry for a long time. People have known about us for decades and they trust our quality. It’s not easy to sell something as expensive as diamonds online. People need to really trust you to buy something this precious from you and we have our history to thank.”

Source: DCLA