Author: Ruchi Singla

Birks Group has acquired Canadian jewellery and watch retailer European Boutique in a transaction valued at CAD 9 million. The deal includes seven retail stores and a national e-commerce platform. European Boutique was previously operated by the Sutkiewicz family. Retail Operations Included in the Acquisition The acquisition includes four multi-brand European Boutique locations in shopping centres across the Greater Toronto Area, offering luxury jewellery and watches from brands including TAG Heuer, Gucci, and Diamonds Direct. It also covers three mono-brand boutiques representing Omega, Breitling, and Montblanc. As part of the transaction, Birks has entered into a licensing agreement to operate…

Arctic Blue Diamonds Ltd., a private diamond company based in Canada’s Northwest Territories, has acquired an 89.7% controlling interest in the WO Diamond Project, which includes the DO27 kimberlite pipe. The interests were purchased from Peregrine Diamonds Ltd. (a subsidiary of De Beers Canada Inc.) and Archon Minerals Ltd., representing 72.1% and 17.6% respectively. Arctic Blue, part of the Arctic Blue Group, also operates an online platform retailing fluorescent Canadian diamonds. As operator of the WO Joint Venture, the company holds marketing rights for any future diamond production from the site. DO27 Kimberlite Resource Overview The WO Project comprises eight…

The Canadian Gemmological Association (CGA) has extended the submission deadline for its 2025 Emerging Artist Design Competition. Students now have until 11:59 p.m. EST on Tuesday, 15 July 2025 to enter their jewellery design proposals. Entries can be submitted through the CGA’s website at www.canadiangemmological.com. Submission Details and Prizes The competition is open to students and offers three cash prizes: CAD $1,000 for first place, CAD $500 for second place, and CAD $250 for third place. Winners will be announced later in the year, with prizes distributed at that time. “Creativity knows no bounds, and we want to ensure every…

Birks Group has secured new funding to support the acquisition of jewellery retail locations and to strengthen its working capital position. New Financing Arrangements The company has arranged additional financing through SLR Credit Solutions, an existing senior lender, and Mangrove Holding S.A., a controlling shareholder. The funds will be used to support the planned acquisition of jewellery stores in a Canadian province where Birks already operates, alongside providing additional liquidity for day-to-day operations. While the transaction remains subject to standard conditions and third-party approvals, Birks has entered into a share purchase agreement as part of the acquisition process. Further details…

Adamas International Jewellers has opened a new manufacturing facility in Brampton, Ontario, adding to its domestic production infrastructure to serve trade clients. The Canadian company states that the site combines modern equipment with traditional production methods. Expanded Services and Capabilities The Brampton site supports chain production and traditional casting and processes gold in purities ranging from 10 karat to 22 karat. Services include gemstone setting, CAD design, model making, mould pressing, jewellery repairs, appraisals, and gold trading. An in-house design team supports trade clients by producing items based on digital files or concept drawings. According to the company, production is…

Toronto-based jeweller Al Joher has introduced lab-grown diamond rings to its product portfolio. The new range is available online and in-store alongside its existing custom gemstone and engagement rings. The launch reflects broader industry adoption of lab-grown diamonds, as more retailers include synthetic stones to meet demand for lower-cost and non-mined alternatives. Product Information The line includes multiple designs and settings, with options for customer customisation. The business has confirmed that lab-grown diamonds will be sold alongside its selection of natural diamonds. “We are excited to introduce our new collection of lab grown diamond rings to our customers. We understand…

The Canadian Jewellers Association (CJA) and the Quebec Jewellers Corporation (Corporation des bijoutiers du Québec, CBQ) have formalised a new alliance intended to strengthen support for the jewellery industry in Quebec. The partnership will see the CJA increase its presence in the province and assume responsibility for organising the long-running Expo Prestige trade show from 2025 onwards. Expanded Services and Bilingual Support Under the agreement, the CJA will take on a broader operational role in Quebec, with an emphasis on bilingual service delivery. A French-speaking staff member will be introduced, and all communications will be provided in both English and…

Five individuals have been arrested in Montreal following a series of distraction thefts in which seniors were targeted for their jewellery. The arrests follow a series of similar incidents reported in cities across Canada, with police in Vancouver, Calgary, Ottawa and Toronto issuing public warnings earlier this year. Arrests and Ongoing Investigation Montreal police confirmed that three men aged 34, 39 and 45 and two women aged 36 and 37 were apprehended on Tuesday and Wednesday of last week. Three of the suspects appeared in court on charges of theft under CAD $5,000. The remaining two were released under conditions…

Birks Group has secured an 18-month extension from the NYSE American following the approval of its compliance plan, allowing the company to retain its listing while working to meet ongoing financial requirements. Extension Granted Following Non-Compliance Notice Birks Group has received confirmation from the NYSE American that its compliance plan has been accepted, extending its continued listing through 25 August 2026. The company had been under review after receiving a notice on 25 February 2025 citing non-compliance with Sections 1003(a)(i) and (ii) of the exchange’s Company Guide. These rules relate to minimum shareholders’ equity and operating performance standards. Compliance Plan…

Mountain Province Diamonds has reported a net loss of $34.4 million for the first quarter of 2025, reflecting reduced demand for rough diamonds and a decline in the volume of goods available for sale. This compares with a net profit of $6.9 million in the same period last year. Revenue fell by 51% to $44 million, while sales volume declined 55% to 426,000 carats. The average price per carat rose 3% to $72. Operational Transition Impacts Production The company noted that the use of lower-quality ore during the transition period negatively affected output and sales. “As we worked through this…

The Government of the Northwest Territories (GNWT) has announced a series of targeted relief measures to stabilise its diamond mining sector, a key contributor to the territory’s economy. The initiative follows mounting financial pressures on the region’s three major diamond mines — Ekati, Gahcho Kué, and Diavik — operated respectively by Burgundy Diamonds, Mountain Province and De Beers (joint venture), and Rio Tinto. Sector Under Financial Strain The diamond industry in the Northwest Territories accounts for approximately 20% of the territory’s gross domestic product (GDP) and employs more than 1,000 Northerners. However, a combination of declining global diamond prices, persistent…

Diamond production at the Diavik mine in Canada rose in the first quarter of 2024 as operations returned to standard levels following a temporary suspension in 2023. Operated by Rio Tinto, the mine produced 942,000 carats during the three months ending March 31, reflecting a 27% increase year on year and a 22% rise from the previous quarter. Production was paused in the same period last year to allow workers to observe a mourning period following a fatal plane crash. In addition, the mine experienced limited ore availability due to the shutdown of two kimberlite pipes. Recovery of Notable Yellow…

The Royal Canadian Mounted Police (RCMP) has issued a warning to the public following reports of distraction thefts involving imitation jewellery. These incidents, which have occurred in various locations across Alberta, involve individuals offering fake gold items in exchange for money, using the interaction as an opportunity to steal valuables from victims. Theft Pattern Targets Public Areas According to the RCMP, the scams typically take place in public spaces such as shopping centre car parks, petrol stations, and other high-traffic areas. Offenders often claim to be in financial difficulty and offer what appears to be gold jewellery in return for…

Swiss watchmaker Omega has expanded its e-commerce platform to Canada, allowing customers to purchase models such as the Speedmaster, Seamaster, Constellation and De Ville directly from the brand’s website. Increased Access in a Geographically Dispersed Market The move forms part of Omega’s wider digital strategy. Canada’s size and retail distribution limitations make online availability a practical step for reaching customers in areas without boutique coverage. Raynald Aeschlimann, president and CEO of Omega, stated: “Introducing online sales in Canada is a very important step for this market. Geographically, it’s a large country with many customers who don’t have easy access to…

The Natural Diamond Council (NDC) has launched the Diamond Learning Centre, a new free digital platform designed to provide accessible education on diamonds for jewellery professionals and enthusiasts. The platform launched in April, aligning with the Natural Diamond Council’s broader seasonal marketing efforts. Accessible at diamondlearningcenter.org, the site aims to improve knowledge of the differences between natural diamonds, laboratory-grown diamonds, and simulants. The platform is mobile-compatible and designed for independent use. Content and Learning Structure The Diamond Learning Centre includes more than 25 short videos addressing frequently asked questions, as well as four self-paced educational modules covering: Users receive certificates…

Rio Tinto has recovered a 158.2-carat yellow diamond from the Diavik Diamond Mine in Canada’s Northwest Territories—one of the largest yellow diamonds ever found in the country. The diamond is one of the rare yellow stones found at the site, with yellow diamonds accounting for less than 1% of the mine’s overall production. This recovery is one of only five yellow diamonds over 100 carats to be unearthed at Diavik in its 22-year history. It is among the largest gem-quality yellow diamonds found in Canada, second to the 552.74-carat yellow diamond recovered at Diavik in 2018, the largest diamond ever…

Calgary Police are investigating a series of residential break-ins involving the theft of more than $2 million in high-value items, including jewellery and luxury watches. The offences took place between 26 February and 3 March in the neighbourhoods of Aspen Woods, Britannia, Upper Mount Royal and Crescent Heights. Police believe two to four individuals were involved. High-Value Goods Targeted from Bedrooms According to investigators, the suspects entered homes through second-storey access points and targeted primary bedrooms, where jewellery, high-end watches and designer clothing were taken. All incidents are believed to have occurred between 6 p.m. and 10 p.m. Police believe…

Nearly 50 years ago, Birk launched a campaign marking national heritage. The campaign appeared as full-page advertisements in newspapers, reflecting on the country’s unity and resilience. The original advertisement read: “We are too young not to be enchanted with what’s ahead. Not naïve enough to be unaware of growing pains. And certainly not so old that we consider every setback a mortal blow. Our future is exciting because it is built on the kind of dialogue which must inevitably become constructive and progressive. Let us all look upon this moment as a gift to widen our ability to understand… and…

Toronto-based fine jewellery brand Mejuri has expanded its Canadian retail footprint with the launch of a new store at CF Carrefour Laval in Laval, Quebec. This marks the company’s 41st store globally and continues its strategy of establishing a presence in key shopping destinations. The opening aligns with Mejuri’s focus on increasing accessibility for customers in the Greater Montreal area. CF Carrefour Laval, one of Quebec’s major retail centres, attracts a high volume of both local shoppers and visitors, making it a strategic location for the brand’s physical expansion. Retail Experience and Store Features The Laval store includes the Mejuri…

Rio Tinto has reported a $127 million loss from its Diavik diamond mine in Canada for 2024, citing weak market conditions and “fixed cost inefficiencies” as contributing factors. This compares to underlying earnings of $26 million in 2023. The company’s diamond division generated $297 million in revenue, a 37 percent decrease from $444 million the previous year. Workforce Reductions and Operational Changes In September 2023, Rio Tinto offered voluntary separations to over 1,300 employees as part of cost-cutting measures ahead of the mine’s scheduled closure in 2025. The company has been adjusting its operations to manage expenses as production nears…

Three individuals have been charged in connection with an attempted robbery at a jewellery store in Conestoga Mall, Waterloo. The incident occurred on the evening of 22 February 2025, when four masked individuals entered the shopping centre carrying duffle bags. Security Intervention and Police Response Mall security noticed the group and intervened as they approached a jewellery store. As police arrived, the individuals attempted to flee on foot. Two suspects were arrested immediately, while a third was apprehended at a nearby business. A fourth suspect was initially detained but later released unconditionally. Another suspect escaped in an unidentified vehicle and…

Birks Group has announced a 4% year-on-year increase in net sales for its FY2025 Holiday Period, which spanned the eight weeks ending 28 December 2024. Comparable store sales also rose by 1.3% over the same period in the previous year. The company stated that third-party branded watches were a key driver of sales growth, exceeding figures from the prior year. E-commerce sales also increased during the holiday period, supporting overall sales growth. CEO Comments on Performance Jean-Christophe Bédos, President and CEO of Birks Group, commented on the holiday trading results, stating: “Our teams have delivered good sales results this holiday…

Lisa Gozlan Jewellery has expanded its retail presence in Canada with the opening of two new stores and an upcoming location in Toronto. The Toronto-based brand, co-founded by Ryan and Lisa Gozlan, has recently launched locations at Square One Shopping Centre in Mississauga and in Vancouver’s Kitsilano neighbourhood. A new store at Toronto’s Yorkdale Shopping Centre is set to open in 2025. From E-Commerce to Physical Retail Founded in 2019, Lisa Gozlan Jewellery began as an online business and has since expanded into physical retail. The company gained early traction through social media, particularly during the pandemic, when demand increased…

Two more attempted jewellery store thefts at Conestoga Mall in early February continue a pattern of smash-and-grab robberies in Ontario’s Waterloo Region. The incidents are similar to multiple cases reported last year, with police continuing efforts to identify and apprehend those responsible. Latest Incidents at Conestoga Mall The first attempted robbery occurred on Saturday, 1 February, when six individuals entered the mall and appeared to target a jewellery store. A security officer spotted the group and intervened, prompting them to flee. On Monday afternoon, another group of six individuals entered the mall. This time, a security guard instructed store staff…

Mountain Province Diamonds reported a 20% drop in annual revenue for 2024, with sales falling to $195.2 million. The company, which operates the Gahcho Kué mine in Canada in partnership with De Beers, attributed the decline to weak rough diamond prices and subdued market demand. Mark Wall, CEO of Mountain Province, noted that 2024 represented a period of weaker performance for the global diamond market, which he described as being in a “down cycle.” Sales and Pricing Trends Despite a flat sales volume of 2.7 million carats, the average price per carat dropped by 20% year-on-year, falling to $72. The…

Michael Hill International has released its financial results for the first half of FY24, with the Canadian market showing modest growth despite challenging conditions for the jewellery retailer globally. Canadian Market Performance Sales in Canada increased by 0.6% year-on-year to CAD 88.3 million. While growth was minimal, the region maintained stability compared to other markets, such as New Zealand, which faced significant declines. Group-wide, total sales rose by 4.1% year-on-year to CAD 330.5 million, driven by strong performance in Australia. Digital sales accounted for 8% of total revenue during the period. Daniel Bracken, Managing Director and CEO of Michael Hill…

Canadian Olympic silver medallist and professional beach volleyball player Melissa Humaña-Paredes has partnered with Vancouver-based jewellery brand True Curated Designs to launch a limited-edition jewellery collection. The collaboration explores themes of strength, beauty, and environmental awareness, inspired by the athlete’s personal interests and the brand’s design principles. Origins of the Partnership The collaboration began when Tori Dundas, founder of True Curated Designs, noticed Humaña-Paredes training for the Paris Olympics while wearing jewellery from her brand. The initial interaction led to a collaborative effort that resulted in the Sol collection. Speaking about the collaboration, Humaña-Paredes explained the personal connection she feels…

De Beers Group has announced the recipients of its 2024 scholarships for Indigenous women pursuing studies in science, technology, engineering, and mathematics (STEM) at Canadian colleges and universities. This year, three women from the Northwest Territories—Aubrey Sluggett, Symone Berube, and Madison Menacho-Melnyk—were selected from nearly 600 applicants to each receive a $4,500 scholarship. Supporting Indigenous Women in STEM The De Beers Group scholarship programme supports Indigenous women entering STEM fields by offering financial assistance to first-year students. Recipients are chosen based on their academic goals, achievements, and community involvement. Nompumelelo (Mpumi) Zikalala, Managing Director for De Beers Group Managed Operations,…

Star Diamond Corporation has confirmed the sale of a 70.7-million-share block previously held by a former partner in its Fort à la Corne diamond project to an international investor. The investor, who remains unnamed, has expressed interest in supporting the advancement of Star Diamond’s exploration efforts, including its Star-Orion South project in Saskatchewan, Canada. The development represents a key step for the company as it works to advance its exploration efforts following the departure of former joint-venture partner Rio Tinto in 2022. Strategic Developments Post-Rio Tinto Exit Since Rio Tinto’s departure, Star Diamond has focused on securing funding to progress…

Halton Regional Police are investigating a smash-and-grab robbery that occurred on Saturday afternoon at the Mapleview Shopping Centre in Burlington. The Charm Diamond Centre was targeted by multiple suspects who, according to police, smashed display cases and fled with jewellery. All suspects wore face coverings, and no injuries were reported during the incident. The value of the stolen merchandise has not been disclosed, and no arrests have been made so far. Rising Jewellery Store Robberies in the GTA The Burlington incident is part of a broader surge in daylight jewellery store robberies across Toronto and the Greater Toronto Area (GTA).…