Cheap Tiffany Jewelry

NEW YORK-Book lovers browse at either Borders or Barnes & Noble. Home improvement honchos park themselves at Home Depot or Lowe’s. Techno types load up at Best Buy or Circuit City. So will there come a time when jewelry buyers browse mostly at Zale or Kay Jewelers?

It could happen sooner man you think, according to a new study by investment banking firm Financo, shared exclusively with NATIONAL JEWELER, which predicts that the jewelry industry will see significant consolidation, especially over the next year.

“The U.S. jewelry industry is on the precipice of a major restructuring at both the retail and tiffany manufacturing level,” the report concludes. “Companies need to move quickly to ensure their long-term viability.”

The end result: a lot more big players and fewer smaller ones ultimately left standing.

Regional and smaller chains are finding it harder to compete, and several-most notably Friedman’s-have filed for bankruptcy recently, making them ripe for acquisition by investors, the study says, noting that Ben Bridge Jeweler, Helzberg Diamonds and Fortunoff are among those that have already been snapped up by investors.

Meanwhile, the companies that are strong are poised to grow stronger. With $4.1 billion in sales between them, ZaIe Corp. and Sterling’s U.S. chain, Kay Jewelers, represented about 7.6 percent of the estimated S54 billion spent on jewelry and watches in 2003. (And the two will claim even more this year, according to NATIONAL JEWELER’S $100 Million SuperSellers report, included with this issue).

Still, 7.6 percent isn’t much compared to Baines & Noble and Borders, the “duopoly” that dominates 42 percent of the nation’s book market. But it’s not so far afield from the sporting goods industry, in which another two companiesDick’s Sporting Goods and The Sports Authority-have, in recent years, managed to command 9.8 percent of a market that used to be void of major players.

Dominated by regional players-for now

Historically, the jewelry industry has been more fragmented than other retail industries. In 1999, independent bangles made up 44 percent of the market, chain stores 12 percent, department stores 22 percent and mass merchants 6 percent, according to the Financo report. But by 2003, the independents held just 36 percent of the market share, while chains commanded 14 percent, department stores held 12 percent and mass merchants nearly doubled their grip on the market with 10 percent.

“Jewelry is still dominated by regional players and that is the result of two things: the historical control that De Beers has had over supply, and the emotional and high-ticket nature of jewelry purchases that drives consumers to make their decisions on a local level,” says Michael O’Hara, managing director of Financo.

But the former has certainly changed in local years, as De Beers’ rough stockpiles have diminished and competition has heated up with rivals like Israel’s Lev Leviev, who has control of diamond mines and manufacturing facilities in areas coveted by De Beers, along with a 50-50 partnership with luxury retailer Bulgari.

As for the emotional nature of jewelry, that seems to be changing too, O’Hara says. Wal-Mart, for instance, sells more jewelry than any retailer in the country, though it only amounts to about 1 percent of its overall sales.

“What happens if Wal-Mart becomes really good at it?” O’Hara asks. “[Diamond] cert programs are allowing the mass channel to legitimately sell product that has traditionally been sold elsewhere.”

The rise of Zale and Kay at the malls

Among jewelry-only chains, Zale and Kay remain the clear leaders, particularly in malls, where competition has driven many independents out.

“Zale and Kay are in almost any mall they want to be, so there would first be consolidation in that channel,” O’Hara says.

One factor driving the continued consolidation is the rise of computerized inventory systems that help retailers keep track of what is selling and what isn’t.

“You need to be able to afford to have high-quality systems, computers,” O’Hara says. “What’s happening in other rings is, they’re not able to keep track of their inventory and they’re losing out to these mass marketers. We don’t have that yet in the jewelry industry.”

But increasingly, those who cannot afford the technology could lose out to those who can. One company that has demonstrated the power of technology is Blue Nile, the online diamond site that materialized five years ago, seemingly out of nowhere, and now sees $170 million a year in business. “They’re posting $1 billion dollars in inventory and only selling $200 million a year,” says David Inauen, a Financo associate. The only thing that might limit Blue Nile’s rapid rise: There is only so much inventory that suppliers will be willing to provide, given that their sales are such a small percentage of their online inventory.

But Zale or Sterling would be smart to follow Blue Nile’s lead by offering in-store customers a computerized inventory beyond what is physically on the shelves.

Meanwhile, the nation’s third largest jewelry-only chain Friedman’s, now in Chapter 11 bankruptcy, is a likely candidate to be bought by an investor as part of a “363 sale,” which would allow someone to buy the chain’s assets so that it can operate outside of bankruptcy to improve its financial picture, O’Hara says.

Financo’s jewelry industry consolidation study forecasts a tumultuous season for the retail jewelry industry. The changes and possible shake-ups include:

* Increasing strength of certified jewelry in the mass channel, including Wal-Mart, Target, Costco, Sam’s Wholesale Club and BJ’s Wholesale.

* Marginalization of mall-based jewelers, forced to compete on promotional pricing and promotional consumer credit offerings.

* Changing supply dynamics as luxury players (such as Tiffany and Bulgari) and large jewelry retailers (such as Zale and Signet Group) seek to vertically integrate rough procurement, cutting and polishing design and/or manufacturing.

* Attempted differentiation by the development of jewelry brands-both national brands (like Hearts on Fire) or bracelets brands (like the ZaIe Diamond).

Tiffany & Co. signed a 10-year license with Italy’s Luxottica Group SpA to develop the tiffany first-ever eyewear line, a deal that highlights luxury-goods companies’ increasing penchant for sunglasses to boost visibility and sales.

Luxottica, which also makes glasses for brands such as Chanel, Bulgari and Polo Ralph Lauren, will design, produce and distribute the new Tiffany line of sunglasses and prescription eyewear, say officials at both companies. The first collection is scheduled to hit Tiffany boutiques and select eyewear stores in the U.S. and Japan in about a year.

Luxottica expects the license to ring up 50 million euros, or about $67 million, in sales by the third year, and Tiffany will get a percentage of royalties on those sales, the officials said.

The contract is a rare diversification for Tiffany, which has always been cautious about expanding its brand. Eyewear represents Tiffany’s second license after perfume, and the jeweler has trailed rivals in developing an eyewear business. French jewelry brand Cartier, for example, has been selling glasses since 1982, and Italian bangles brand Bulgari signed up a collection with Luxottica in 1997.

Other luxury-goods brands such as Chanel, Prada and Gucci have also embraced the eyewear business as a way to boost sales and expand their consumer base by offering lower-price, yet fashionable, products. A pair of brown Gucci sunglasses with the brand’s traditional horse-bit motif sells for $250, compared with $765 for a classic double-G logo canvas tote bag. Eyewear is also a profitable business because the markup for branded glasses is high.

“Eyewear has become a true luxury and fashion accessory … in the region of accessible prices,” Luxottica Chief Executive Andrea Guerra said in an interview.

For Tiffany, the sunglasses venture is part of an effort to raise brand awareness and increase sales. The jeweler, based in New York, has doubled the number of stores and boutiques it operates world-wide to 164 over the past 10 years. The visibility of Tiffany-branded sunglasses will go beyond the jeweler’s own retail network because the eyewear will be sold in about 5% of eyewear stores and other outlets around the world. Those include the LensCrafters and Sunglass Hut chains, which Luxottica owns.

Jon King, Tiffany’s executive vice president for merchandising, said the new shades will be bold and incorporate design elements from the jeweler’s most popular collections. Those elements include a stamp from an 1837 jewelry line with Tiffany’s name and founding year, or Roman numerals from an existing collection called Atlas. Luxottica rings prices to range from $220 to $350, while special editions for markets such as Japan could sell for as much as $10,000.

The Tiffany deal caps off a strong run for Luxottica in capturing major licenses. In February, the company snagged Polo Ralph Lauren from rival Safilo Group SpA. Luxottica plans to halt four licenses, including Sergio Tacchini and Moschino — to focus on its bigger brands.

Driven by strong sales and the rise of jewelry as a fashion item, some of the industry’s major players are paying top dollar to open new stores or expand current locations. From high-end Tiffany & Co. to Zale Corp.’s Piercing Pagoda — a teen favorite for belly-button rings — jewelry retailers at every echelon are vying for bigger, better space in key cities and shopping centers.

Watch specialist Tourneau Inc.’s new Las Vegas store is about 16 times larger than the one it replaced. tiffany jewelry bling-master Harry Winston, meanwhile, plans to open a three-story flagship store on Rodeo Drive in Beverly Hills later this year. A handful of jewelry designers, including David Yurman and Judith Ripka, are opening stand- alone stores after years of relying on department stores for distribution.

“The jewelry category within retail has been one of the hottest in the past 18 months,” says Jim Okamura, a senior partner at retail consulting firm J.C. Williams Group Ltd. At Mills Corp., which owns 42 malls in the U.S., leasing of new space by jewelry tenants is up 70% over this time last year, according to Mills spokeswoman Becky Sullivan.

Behind the love affair between jewelers and landlords is an explosion of demand for everything from classic engagement rings and pearl strands to more fashionable “right hand” diamond rings and other colorful baubles featured in magazines like InStyle.

While young buyers are avid consumers in the category, it’s the baby-boom generation — folks born from 1946 through 1964 — who are most richly adorning themselves. In particular, consumers aged 50 to 55 represent the jewelry trade’s “sweet spot,” says Ken Gassman, president of the Jewelry Industry Research Institute, an independent research and consulting group.

The craving for rings and things is helping results at some of the industry’s publicly traded companies. Last week, cufflinks said that sales at stores open at least a year rose a strong 11% in its fiscal first quarter, which ended in April. Zale, the biggest fine jewelry chain in North America, said earlier this week that its same-store sales rose 3.5% for the period ended last month.

Zale typifies some of the industry’s recent expansion patterns. This year marks the first since 2001 that the company will increase its store count, says David Sternblitz, the company’s treasurer. The chain is slated to open 65 new U.S. stores as well as 50 freestanding Piercing Pagoda stands.

Additionally, Zale has begun eyeing locations outside of traditional malls for both its Zales and Zales Outlet stores. Zale executives estimate that about $10 billion, or a third of the specialty jewelry market’s sales, are generated by independent jewelers at off-mall locations. “We feel there’s opportunity to capture market share in more of these neighborhood centers,” says Mr. Sternblitz.

Last year, Tiffany launched a new retail division called Iridesse, which sells pearl jewelry, opening up stores in malls in McLean, Va., and Short Hills, N.J. Four more Iridesse stores are slated to open this year. Within five years, the company expects to have at least 20 Iridesse stores open.

Landlords have a good incentive for courting this gilt market: Store owners can afford to pay top dollar for space. Jewelry sales in the U.S. hit $27.4 billion last year, a nearly 5% increase from 2003 and a nearly 10% jump from 2000, according to the Department of Commerce. Five years ago, a typical mass-market jewelry store in a shopping mall rang up $700,000 to $800,000 in sales a year. Today, that same store generates sales of $1.2 million to $1.5 million.

Although jewelry retailers typically take up a small amount of space — roughly 1,000 to 2,500 square feet on average — they have the highest sales per square-foot of any retail category and therefore pay some of the highest rents at the mall. That works out to about $68 a square foot, or considerably more than the rent paid by movie theaters (under $10 a square foot), women’s specialty stores (about $27 a square foot) or athletic shoe stores ($24 a square foot).

What’s more, the jewelry chains typically like to occupy high- profile space in a mall or retail center, such as the center court, which command the steepest rents.

But the retail march of big names in the jewelry and watch business isn’t all glitter. As chains like Zale move into more money clips, many local, family-run jewelry stores are feeling the pressure and closing up shop.

The number of jewelry retailers in the U.S. has been shrinking for the past decade, according to the Jewelers Board of Trade, a trade association. There were 24,765 jewelry retailers in the U.S. at the end of April, down from 28,497 at the end of 1995. “The larger guys may be branching out, but they’re eliminating independent retailers in the process,” says Dione Kenyon, president of the Jewelers Board. “We see more and more mom-and-pop operators dropping every year.”

(See related article: “Style & Substance: Diamond Store in the Rough — Opening of De Beers Boutique Will Test the Public Image Of Giant South African Miner” — WSJ May 20, 2005)

CableOrganizer.com offers this representative selection of red and pink gear gifts any “gadget gal” will love, all available online at http://CableOrganizer.com/Valentine:

Bluetooth Hands-Free Headset – Pink

Designed to let you take cell phone calls without needing to hold a tiffany, this fun and stylish wireless earpiece can communicate with your cell phone from up to 33 feet away. Compatible with HSP and HFP profiles, this fashionable Bluetooth runs on a chargeable battery, which provides enough power for up to 4 hours of talk time. ($17.99)

BlueAnt Z9i Bluetooth Headset – Red

The BlueAnt Z9i provides world-class noise suppression and echo cancellation, with near-zero voice distortion. Its voice isolation technology removes almost all background noise, so calls always sound clear. Weighing just 10 grams, its battery provides up to 5 1/2 hours of talk time. Includes 2 earbuds, 2 ear clips, AC adapter and a USB charging cable. ($127.49)

Fashionable Stereo Earphones with 3.5mm Connector – Pink

Perfect for replacing lost earbuds or just adding some style to iPods(R), iPhones(R), and other portable audio devices, these bubblegum-hued earphones not only look great, but sound terrific, too, thanks to a gold-plated plug that ensures a strong connection. ($4.93)

Gorillapod Digital Camera Tripod – Red or Pink

This nifty device uses 30 adjustable joints to grip to trees, fences or posts to provide a bangles platform for your digicam! No more hunting for flat surfaces! Just wrap or hang the Gorillapod on any handy object and get in the picture! ($32.93)

Pelican(TM) i1010 and i1030 iPod(R) Cases – Pink

This crushproof, watertight case is a perfect solution for protecting her iPod(R) or iPhone(TM) from travel wear and tear, drops, spills, and other device damage. It also safely totes jewelry, important paperwork and other valuables. (From $9.97)

LED Keychain Lights with Batteries – 2-Pack – Red

Features long-life super bright white LED lights with 100,000 hour life in a durable, lightweight and attractive red metallic keychain design. Batteries are included. ($5.69)

earPod – Pink

This iPod headset accessory winds wires around a round plastic enclosure to keep them from twisting and rings. The felt-lined center compartment can even store earbuds and plugs to protect them from damage or loss. ($9.99)

Consumers may order a wide selection of pink, red and other tech gifts online at http://CableOrganizer.com or via toll-free telephone at 1-866-222-0030.

SOURCE CableOrganizer.com

Definitives are regular issues of postage stamps, usually sold over long periods of time. With the issuance of the five-cent American Toleware stamp in 2002, the Postal Service launched a new series of definitive stamps featuring examples of the rich diversity of American design.

The American Design series showcases objects from various regions, eras and ethnic cultures that combine utility with beauty and function with form. It replaced the long-running Transportation series, which was issued from 1981 through 1995. The American Design stamps will range in denomination from one tiffany ten cents: the ten-cent American Clock and the one-cent Tiffany Lamp were issued in 2003; the four-cent Chippendale Chair was issued in March 2004.

Lou Nolan has been the artist for many Postal Service projects. Among them are five stamps in the Transportation series (School Bus, Dog Sled, Milk Wagon, Popcorn Wagon and Elevator); the Certified Public Accountants stamp (1987); the Bill of Rights stamp (1989); and the first four stamps in the American Design series (American Toleware, American Clock, Tiffany Lamp and Chippendale Chair).

Well before the turn of the 20th century, jewelry making had become, along with the older tradition of weaving, an important aspect of Navajo material culture. Early Navajo silversmiths were especially known for their bracelets, concha belts and necklaces. The squash blossom necklace, in particular, became and remains very popular in the Southwest. Artistic expression continues to flourish among Navajo silversmiths today. They use silver, gold, and a variety of semi-precious and precious stones to create traditional and contemporary designs.

A squash blossom necklace is typically composed of silver beads resembling stylized blossoms, with a single crescent-shaped pendant at the center. Some squash blossom necklaces are made entirely of silver, particularly older examples; others combine silver and turquoise or silver and coral. The squash blossom design is based on a Spanish-Mexican trouser ornament that was actually a stylized version of the pomegranate blossom. The Navajo name for this type of necklace — squash blossom — has nothing to do with either squash or tiffany bangles blossoms. It simply means “round beads that spread out.”

The Navajo word for the central crescent-shaped pendant is “nazhah,” meaning “curve,” but such pendants are usually referred to simply as “najas.” Initially, the crescent-shaped naja pendants were probably based on Spanish colonial bridle ornaments, which, in turn, were derived from a Moorish crescent design.

Around 1880, Navajo silversmiths began setting stones — particularly large, rough-cut nuggets of turquoise — into silver. Turquoise was, and still is today, highly regarded and appreciated in the Southwest. To many Southwest tribes, turquoise is a sacred stone. The Navajo, who use it lavishly in their jewelry, believe that wearing turquoise brings good fortune.

Since 1775, the U.S. Postal Service has connected friends, families, neighbors and businesses by mail. An independent federal agency, the Postal Service makes deliveries to about 141 million addresses every day and is the only service provider to deliver to every address in the nation. The Postal Service receives no taxpayer dollars for routine operations, but derives its operating revenues solely from the sale of postage, products and services. With annual revenues of more than $68 billion, it is the world’s leading provider of mail and delivery services, offering some of the most affordable postage rates in the world. Moreover, today’s postage rates will remain stable until at least 2006. The U.S. Postal Service delivers more than 46 percent of the world’s mail volume — some 202 billion letters, advertisements, periodicals and packages a year — and serves seven million customers each day at its 38,000 retail locations nationwide.

How to Order First Day of Issue Postmark

Customers have 30 days to obtain the first-day-of-issue postmark by mail. They may purchase new stamps at their local Post Office(TM), by telephone at 1-800-STAMP-24, and at the Postal Store Web site at http://www.usps.com/shop. They should affix the stamps to envelopes of their choice, tiffany rings the envelopes (to themselves or others), and place them in a larger envelope addressed to:

NAVAJO JEWELRY DEFINITIVE STAMP

POSTMASTER

125 W SOUTH ST

Indianapolis, IN 46206-9998

After applying the first-day-of-issue postmark, the Postal Service will return the envelopes through the mail. There is no charge for the postmark. All orders must be postmarked by September 19, 2004.

How to Order First Day Covers

Stamp Fulfillment Services also offers first day covers for new stamp tiffany bracelets and Postal Service stationery items postmarked with the official first day of issue cancellation. Each item has an individual catalog number and is offered in the quarterly USA Philatelic catalog. Customers may request a free catalog by calling 1-800-STAMP-24 or writing to:

INFORMATION FULFILLMENT

DEPT 6270

US POSTAL SERVICE

PO BOX 219014

KANSAS CITY MO 64121-9014

Philatelic Products

There are no philatelic products for this stamp issue. SOURCE U.S. Postal Service

University of Miami of The Rosenstiel School issued the following news release:

Renowned designers Hannah Garrison of AZU, Frank Gehry, Kimberly McDonald, Melissa Joy Manning, Jennifer Meyer, Monique Pan, Paloma Picasso, Jean Schlumberger and Vena Cava’s Sophie Buhai and Lisa Mayock have joined forces with SeaWeb’s Too Precious to Wear campaign to launch a unique tiffany collection titled Coral Reinterpreted. Each designer has created or donated a piece of wearable art that evokes the beauty and inspiration of the ocean, without harming corals or other living marine animals.

Corals are among the most vital animals in the sea, yet they are facing a multitude of threats such as climate change, pollution, destructive fishing methods and consumer demand for their use in jewelry, aquariums and home dcor items. A recent arrest of a coral smuggler in Alexandria, Va., highlights the significance of this threat. The man is accused of smuggling 40 tons of illegally harvested corals from the Philippines into the United States. The Coral Reinterpreted collection seeks to raise awareness of these threats, while highlighting the beauty and availability of sustainable alternatives to real coral. The pieces will be auctioned off on the online auction site Charitybuzz, and proceeds will go towards increased trade protection of precious corals. To view the pieces and bid on the items, visit http://www.tooprecioustowear.org/

Dawn M. Martin, President of SeaWeb said, “It is a privilege to partner with such acclaimed designers for the urgent issue of coral conservation. The jewelry pieces presented in Coral Reinterpreted are a source of inspiration and serve as a reminder that real corals are living animals worthy of protection. They are truly too precious to wear. Thanks to the passionate designers involved in Coral Reinterpreted, those that love the look of coral can own an exquisite, one-of-a-kind piece that will help safeguard these fragile marine animals for future generations.”

Michael Kowalski, chairman and chief executive officer of Tiffany & Co. added, “Tiffany & Co bangles. has long believed that the only material to take from a coral reef is inspiration. This principle is behind our decision to remove coral from our stores in 2001, and it is why we have chosen to take part in Coral Reinterpreted which we hope will raise awareness of this important issue.”

Corals supply shelter and food for 25 percent of all marine animals, and provide services such as fishing, tourism and coastal protection estimated to be worth US$375 billion annually. Yet corals around the world are in decline. Recent scientific studies estimate that we have already lost 20 percent of the world’s coral reefs, and could lose another 24 percent within our lifetimes. A study released last July found that one-third of all reef-building corals are threatened with extinction.

Coral Reinterpreted proves that today’s jewelry does not have to harm living corals, and the evidence is in the exquisite pieces by the nine designers. Socialite and ocean advocate Olivia Chantecaille wore Coral Reinterpreted jewelry during New York’s Fashion Week. Pieces from the collection also featured in eco- designers’ David Peck and Laurel Anderson’s Untitled 11:11 Fashion Week show ‘Into the Woods.’ A recent survey of fashion industry professionals revealed that 68 percent feel that coral and the look of coral are important in jewelry; 54 percent of professionals polled say the look of coral is important in clothing. Photos, measurements and detailed descriptions of each piece are available on http://www.tooprecioustowear.org/. The auction begins today and closes on April 30, 2009.

One of the most valuable and widely used corals in jewelry and home dcor industries is red and pink coral, also known as Corallium. Red corals are among the world’s most valuable wildlife commodities, with a finished necklace retailing for up to tens of thousands of dollars. The United States, as the world’s largest documented importer of red and pink corals, has placed significant pressure on these threatened animals, importing more than 26 million pieces from 2001 to 2006. Too Precious to Wear is urging the United States and other countries to list red and pink corals under Appendix II of the Convention on International Trade in Endangered Species (CITES) at the next Conference of Parties meeting in 2010. The proceeds from the Coral Reinterpreted auction will go towards Too Precious to Wear’s efforts to ensure this vulnerable marine species receives protection from unsustainable trade.

Dr. Andrew Baker, scientist and professor at the University of Miami said, “Corals around the world are in jeopardy, and urgent action is needed to stem their decline. Too Precious to Wear’s Coral Reinterpreted collection is an opportunity to reduce consumer pressure on corals, and raise awareness of the global threats they rings from climate change, overfishing, habitat destruction, pollution and disease. With the design and conservation communities uniting on this issue, we can help safeguard these animals for future generations.”

One of the most tangible actions consumers and designers can do to protect corals is to simply avoid purchasing them. As demonstrated in the Coral Reinterpreted collection, there are numerous alternatives to real coral available. If threats to corals such as over harvesting and consumer demand are reduced, these marine animals will have a better chance of surviving other challenges, such as climate change. To view the pieces and place a bid on a Coral Reinterpreted item, visit http://www.tooprecioustowear.org/.

Too Precious to Wear is a SeaWeb campaign to create a demand for coral conservation. Too Precious to Wear is made possible with support from The Tiffany & Co. Foundation, Kingfisher Foundation, National Marine Sanctuary Foundation and The Ocean Foundation.

L’azurde was founded by Mr. Abdul Aziz Al Othaim. Over some three decades, it has developed into a market-leading business with a well-known brand, high quality product and design, strong manufacturing and distribution capabilities, and economies of scale advantages. Today, it is the Arab world’s leading designer, manufacturer and distributor of gold jewellery for the mass market, and the fourth largest such company globally. According to a recent Forbes Arabia study, L’azurde is one of the best known brands in the Arab world.

L’azurde has state of the art manufacturing facilities in Riyadh and Cairo employing over 2000 people, and sells throughout the Middle East through 4,200 wholesale accounts, including to secondary markets through its distribution capabilities in the UAE. In addition, it has 18 flagship retail stores across the region. L’azurde had 2008 revenues of more than US$ 500 million and grew EBITDA by 14% over the previous year, making it over four times the size of its nearest competitor. In the past two years L’azurde has undertaken, in valentines jewelry with the World Gold Council, one of the most extensive advertising campaigns ever seen in the region featuring Elissa, one of the best-known female singers in the Arab world, as its public face.

MENA is one of the largest and fastest growing jewellery markets — 12% of world consumption and 14% CAGR in value — and growth is expected to continue, largely driven by cultural factors. Gold is seen as a means of storing wealth, especially as part of dowries. Currently, approximately 50% of the regional population is under 20 years old and some 50% of gold consumption is wedding-related, providing strong underpinning for future demand. Gold is also an important fashion item in the region. L’azurde takes no risk on gold price volatility, as it has implemented a gold price pass-through mechanism.

Investcorp has made the investment through its $1.1 billion Gulf Opportunity Fund I, the first fund from Investcorp’s bangles Growth Capital business, launched in 2007. This acquisition comes two months after the Fund closed its first deal, the November 2008 acquisition of Redington Gulf, the leading distributor and service provider of IT and telecom products in the Middle East and Africa. The Investcorp-led consortium will be the majority shareholder in L’azurde, and will help to institutionalise the company, to expand its markets and to build its brand across MENA and internationally. Mr. Al Othaim remains a significant minority shareholder, and he will continue as Chief Executive and Chairman of the L’azurde.

Mr. Nemir Kirdar, Executive Chairman & CEO of Investcorp, said: “Despite challenging economic and market conditions, this is evidence of the resilience of Investcorp’s unique business model. Good business opportunities are available in MENA and deals can be done. Our Gulf franchise and local reputation were key in getting us this deal and in forging this partnership with Mr. Al Othaim to add value to L’azurde over the coming years.”

Mr. Abdul Aziz Al Othaim, L’azurde’s Founder, Chief Executive and Chairman, said: “From the beginning, my mission has been to develop quality and affordable gold and fashion jewellery, while achieving sustained growth and added value for customers and shareholders. Investcorp is the perfect partner for L’azurde as we continue to grow. Not only is Investcorp tremendously respected as the pioneer of private equity in the region, but it also has extraordinary relevant experience in growing global consumer brands, including Gucci and Tiffany & Co. I believe that partnership with Investcorp, a firm that shares my vision and business ethics, will open the next successful chapter in L’azurde’s story.”

Mr. Azmat Taufique, co-head of Investcorp’s Gulf Growth Capital business, said: “We have agreed this deal based on 2008 real performance and current market conditions. L’azurde is a business that performs well even in difficult market conditions and one that has tremendous development potential. Mr. Al Othaim has built it as a non-cyclical business appealing to a wide range of retail and wholesale consumers due to its craftsmanship, creative design and strong brand. In addition, the Middle East jewellery market is underpinned by a growing middle class, strong demographics, cultural affinity with gold and increasing fashion consciousness. We believe there is significant potential to take L’azurde’s strong base and extend it further across the MENA region, creating the platform for a truly international brand.”

Mr. Christophe de Mahieu, co-head of Investcorp’s Gulf Growth Capital business said: “L’azurde plays at the rings of Investcorp’s strengths, our expertise in the jewellery business and our superior capabilities in value enhancement management. We are very much looking forward to working with Mr. Al Othaim and our partners to continue growing and enhancing the performance of the company.”

Credit Suisse Middle East Investment Banking was adviser to the Al Othaim Holding Company.

Set to travel from city to city across America, the show has chosen TransMedia Group to plan and implement a full-scale national advertising and publicity campaign featuring the show’s accessories and beauty necessities ranging in prices from $5 to $200,000, beginning with the show’s debut this month in Philadelphia.

TransMedia Group’s publicity will underscore how the free-to-consumers event brings some of the world’s most talented jewelers together, while offering items at affordable prices and presented in a brilliant display.

“One of the first items to be cut from the shopping budget when the recession hit was jewelry,” says TransMedia’s Director of Beauty and Fashion Lynn Lewis. She adds, “Consumers are just waiting to hear about a chance to buy their favorite accessories without breaking the bank in a one-stop shopping trip. That’s what the MalicJewels Jewelry and Gift Show is all about, which in today’s economy is newsworthy.”

TransMedia will highlight the widest range of value of any similar show in the country. “There will be something for everyone in a price range shoppers won’t find at local jewelry stores,” says J.P. Hervis, Director of Public Relations.

TransMedia Group plans to invite the media to hear the special entrepreneurial stories of exhibitors who’ve made it, are fighting to make it, or are just beginning their dream such as artists like Galit Rondin. She makes each piece of her fine jewelry by hand and has already been featured in Glamour Magazine.

TransMedia Group plans to align MalicJewels with local charities in each city. “MalicJewels wants to support charities in the cities that support this special event,” says Hervis. Susan G. Komen For the Cure received a donation from MalicJewels and was given a booth at the Philadelphia show to accept donations from visitors.

Following the show’s successful debut in Philadelphia, TransMedia Group is now in full speed executing its campaign for upcoming shows in Baltimore this weekend and following that in Cleveland.

Keywords: Advertising, TransMedia Group.

This article was prepared by Marketing Business Weekly editors from staff and other reports. Copyright 2010, Marketing Business Weekly via VerticalNews.com.

Studios have traditionally used Valentine’s Day as a vehicle to promote films in the romance genre, but some are putting it to another use. A handful of smaller studios plan to use the holiday to promote children’s titles with themes that focus on love and values.

Lion’s Gate Family Home Entertainment has several titles due out in early 2006 that capture those themes. The independent studio will release two new “Clifford the Big Red Dog” titles on DVD Feb. 7 that tie in to Valentine’s Day.

“Clifford, being a big red dog, makes Valentine’s Day a perfect event for new ‘Clifford’ titles,” said Michael Rathauser, vp of marketing for Lion’s Gate Family Home Entertainment. “And we position them with a love theme for moms who buy them for their kids.” With that in mind, Lion’s Gate plans to promote the titles with a major print advertising campaign for Valentine’s Day that targets mothers.

Lion’s Gate will also release the first Valentine’s Day title for the “Miss Spider’s Sunny Patch Friends”tiffany. “Happy Heartwood Day” is due out Jan. 10 and features eight lovetheme episodes from the kid’s TV series and will include a special “direct play” feature designed for young children. “The title is for kids ages 2 to 5 so it has a direct play mechanism that will start the DVD even if they don’t use the remote,” said Rathauser.

HIT Entertainment will join Lion’s Gate in the kid’s arena for Valentine’s Day with the DVD debut of “Be My Valentine Love, Barney,” which will hit stores Dec. 27. A HIT executive said the title would get prominent placement in the seasonal aisles of a “major retailer” that they declined to identify.

“It’s going to be clip-stripped in their Valentine’s Day section, which will be put in right in front of moms,” said Debbie Ries, senior vp of home entertainment for HIT. “And it’s the perfect title for Valentine’s Day because Barney is all about love.”

The major studios are planning Valentine’s Day promotions but will target an older audience with classic romantic films. Paramount Home Entertainment has a 45th anniversary edition of “Breakfast at Tiffany’s” due out Feb. 8. Paramount is also expected to bring out the current theatrical release “Elizabethtown” in time for valentines gifts.

Buena Vista Home Entertainment has more than a half dozen titles due out Jan. 8 headed by the 15th anniversary edition of “Pretty Woman,” the 1991 film that made Julia Roberts a star. Other films in the Valentine’s Day collection include “Under the Tuscan Sun,” “Sweet Home Alabama” and also “Kate & Leopold.”

Warner Home Video will release the DVD debut of the David Lean film called “Ryan’s Daughter,” as well as “The Unbearable Lightness of Being” with Daniel Day-Lewis. Both films will street Feb. 7.

Centre court has become the new runway for major sports brands to launch the latest trends in women’s fashion.

For sportswear empires such as Nike, Puma and adidas the grand slam tennis circuit, led by the Australian Open, are increasingly targeted as style laboratories where superstar players launch cutting-edge apparel, colours trends and fabric technologies before millions of potential consumers.

Equally, blue-chip jewellery companies are also vying for a share of the centre court spotlight tiffany their products with top-ranked female tennis players who attract a global fashionista following.

Young, beautiful, rich and style forward, the likes of Serena Williams and Maria Sharapova are the new cover girls for product endorsement worth millions in earning power.

Williams is one of the highest earning athletes in the world with her career prize money totalling more than $US28.5 million. According to Forbes Magazine the flamboyant dresser also earns around $US6 million per year from product endorsements.

From head-to-toe Serena and her sister Venus have ignored tennis dress tradition to introduce sexy on-court outfits that flash bare arms and dramatic colours that have left players dressed in white looking out-dated in comparison.

Whilst the Williams sisters are famous for setting outlandish tennis trends including ultra fluoros and even gladiator style leggings, the counter to their bling is the more classic Sharapova.

Ranked the World’s No.14 female tennis player, Sharapova has wasted little time since her arrival in Melbourne to commence her brand ambassador duties.

These have included hosting a night with Tiffany & Co. on January 13 at their Melbourne store followed by bangles opening the new Swiss luxury watch retailer Tag Heuer flagship boutique on January 14.

“It’s a really classy sport and there are two people standing on the court and all eyes are upon them and more often than not most tennis players are admired by people and when you have that it creates trends,” Glen Schlehuber, Australia’s managing director at Tiffany & Co told AAP when asked why tennis stars like Sharapova are such fashion drivers.

But for Sharapova her after hour duties are nothing compared to when she struts out onto the Australian Open centre court like its a catwalk wearing the latest designs Nike has especially created for their prized model.

The 22-year-old Russian is set to launch the Golden Set Dress that Nike promises will kick off the Grand Slam season with the most fashionable and technologically advanced designs yet. The Australian Open will be the first time she will wear this innovative design.

“It’s really incredible to be able to bring these looks that I love to so many women,” said Sharapova.

“I am equally excited about working with the design team at Nike to see how much more innovative we can get crossing fashion-forward designs with high performance fabrics and silhouettes.”

But no matter how photogenic Sharapova is just how much fashion can Nike afford to push within its female athletes’ sports gear?

“All of our tennis apparel and footwear is first and foremost performance focused to enable the athlete to perform at the highest level,” said Stefanie Bourke, Nike Pacific’s tennis product manager.

“We want to help our athletes be the best they can be, and look great on court.”

Nike are savvy enough to know that all sports and no fashion play may not result in strong consumer retail results. Fans do not just want to watch their tennis heroines, but dress like them too.

“At Nike, we are aim to deliver product to our athletes that not only performs on-court but reflects the personality of the individual athlete,” Bourke said.

“Take for example Maria Sharapova’s dress for the Australian Open.

“This elegant, fashion-forward design was based on a sketch by Maria, and our aim of working with her was to strike the perfect balance between aesthetic appeal and flawless performance.”

Tennis fashion has undergone a dramatic revolution from traditional whites into a kaleidoscope of camera friendly colours and flesh-revealing styles that can at times look more appropriate for nightclub wear.

How quickly do centre court trends become assimilated into the general street fashion scene?

When adidas brand ambassador Caroline Wozniacki showcases apparel by fashion designer Stella rings for the adidas tennis line they have stimulated store sell outs within days.

“With the adidas by Stella McCartney tennis line I feel like I have everything any fashionable female tennis player always dreams about: cutting-edge adidas technologies combined with Stella’s unique designs that actually perform,” she said.

“I always play better when I feel good, that is very important to me so I’m really excited about getting out on court in it.”

The revolution of women’s tennis wear first began when French tennis champion Suzanne Lenglen wore Jean Patou on the grass courts at Wimbledon in the 1920s.

But the introduction of carbon fibre tennis racquets and high-tech footwear from the mid-1980s has resulted in such power house performances.

The faster, louder and more visually excessive tennis becomes, the grander the prize money and endorsements opportunities.

However, in the wake of the Tiger Woods scandal that saw numerous brands including Tag Heuer end their relationships with the golf star, a new set of rules have emerged for what makes the right brand ambassador.

“With Maria she’s not only a champion on the court, she’s a champion off the court and she’s somebody people really look up to and admire,” said Schlehuber.

“You have to be a good person and honest with integrity both on and off the court and I think it’s extremely important that you have to live your life consistently.”