Author: Ruchi Singla

Ruchi is our trusted breaking news reporter, keeping you informed about the latest trends, launches, and significant events as they unfold. With a commitment to accuracy and a passion for adding a layer of insight, Ruchi creates informative and engaging content that shines a light across the world of jewellery.

Birks Group reported a 13.7% year-over-year sales growth for its fiscal year ending March 30. This increase brought net sales to CAD $185.3 million and gross profit to CAD $73.6 million. Despite these gains, the company recorded a net loss of CAD $4.6 million, which is an improvement over the previous year’s net loss of CAD $7.4 million. The increase in sales was driven by demand for watches and jewellery, alongside investments in customer experience and product development. Comparable Store Sales and Operating Income For the full fiscal year, Birks Group saw a 7.5% increase in comparable store sales and…

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Toronto-listed Star Diamond Corporation has announced its intention to purchase the remaining 50% interest in the Buffalo Hills diamond project, located in Alberta, from TSX-V-listed Canterra Minerals. This acquisition will grant Star Diamond full ownership of the asset. Reassessment Reveals Valuable Diamond Types Early last year, Star Diamond revisited the Buffalo Hills project, which had previously undergone bulk sampling in 2010. CEO Ewan Mason stated that this reassessment unveiled promising findings, including the presence of Type IIa diamonds and fancy yellow diamonds with high modelled prices. He remarked, “It became clear to us that further work needed to be done,…

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Winnipeg jewellers are being urged to alert their clients to a surge in gold scams that have recently plagued the city. Local jewellery appraisers and Winnipeg police report that these scams have resurfaced, with diverse victims falling prey to fraudulent schemes. Scam Details and Victim Profiles Gerry Gordon, owner of Gerry’s Jewellery Appraisals, has encountered multiple scam victims with consistent stories in recent months. These incidents typically occur near bank machines, where scammers share convincing tales of financial distress and persuade victims to exchange cash for what appears to be genuine gold jewellery, which is later revealed to be counterfeit.…

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Toronto police are seeking three suspects in connection with an armed robbery at a jewellery store at the intersection of Yonge Street and Dundas Street East. The robbery, involving the discharge of a firearm, occurred on December 13, 2023. Incident Details The robbery was carried out by a group of eight men travelling in two stolen vehicles. Seven suspects entered the jewellery store wearing masks. One suspect fired a handgun at a glass door, while others used hammers to smash display cases. During the robbery, one of the suspects assaulted a victim with a handgun. The suspects fled the scene…

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The Gahcho Kué diamond mine has now surpassed C$2 billion in procurement spending with businesses in the Northwest Territories (NWT) since its construction commenced in 2015. This milestone represents 61% of the total C$3.2 billion spent on procurement for the mine, highlighting the project’s commitment to local economic development and Indigenous engagement. Economic Contributions Diamond mining remains the largest contributor to the NWT’s Gross Domestic Product (GDP), with Gahcho Kué playing a pivotal role. According to the NWT Bureau of Statistics, diamond mining accounted for C$588 million of the territory’s C$4.25 billion GDP in 2023. The mine’s spending with NWT…

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Luxury jewellery brand Bulgari, part of the LVMH Group, has unveiled its Canadian flagship store on Bloor Street West in Toronto.  Located at The Colonnade, this store is the sole location in Canada offering Bulgari’s high jewellery collection, along with a variety of exclusive products and unique design elements. Store Design and Unique Features Spanning over 3,000 square feet, the Bloor Street store boasts a distinctive curving glass facade inspired by Bulgari’s iconic Tubogas, reflecting the brand’s signature craftsmanship. The facade also incorporates white marble elements echoing the entrance portals of Bulgari’s historic flagship in Rome. Inside, visitors are greeted…

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On June 5, 2024, the Bank of Canada (BoC) announced a reduction in the key interest rate by 25 basis points, bringing it down to 4.75%. This marks the first policy rate cut in over four years, making Canada the first G7 nation to reduce interest rates amidst ongoing inflationary pressures. Impact on Retail Trade This decision is expected to have significant implications for the retail sector – lower interest rates can lead to reduced borrowing costs for businesses and consumers, potentially boosting retail spending. The reduction in the key interest rate could lead to lower prime lending rates from…

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Toronto police have released a video seeking the public’s assistance in identifying suspects involved in an armed robbery at a jewellery store in North York earlier this month. The incident occurred on the afternoon of May 16 at CF Fairview Mall, situated at Sheppard Avenue East and Don Mills Road. Incident Details According to police reports, five suspects travelled to the mall in a vehicle, with four entering the building. Surveillance footage shows an employee opening the door for a man, identified by police as one of the suspects. The man, after entering the store, holds the door open for…

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Canadian Jeweller Magazine has announced the dates and venues for this year’s Time & Shine Jewellery Trade Shows – the largest jewellery and watch trade shows in Canada.  The Edmonton event is scheduled for July 21-22 at the Edmonton Metro Convention Centre, followed by the Toronto show on August 18-19 at the International Center. These events are set to provide a platform for suppliers and retailers in the jewellery industry to connect, explore new products, and establish business relationships. Key Industry Gathering Olivier Felicio, CEO of Canadian Jeweller Magazine, emphasised the importance of these events, stating, “Time & Shine Trade…

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On Thursday, 23rd May, a downtown Guelph jewellery store was the target of a robbery, resulting in the theft of approximately $200,000 worth of merchandise. The incident occurred at Knar Jewellery in St. George’s Square shortly before closing time. Three suspects, armed with hammers, forcibly entered the store, smashed display cases, and fled the scene within minutes. Details of the Incident Guelph Police received a report of the robbery in progress just before 5 p.m. According to John Van de Kamer, the general manager of Knar Jewellery, the store’s door, which is typically locked, was opened to allow a well-dressed…

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Police have disclosed surveillance images of individuals suspected in a recent theft from a jewellery store, where approximately $20,000 in jewelry was stolen. The incident took place at a jewellery store located in the Queen Street East and Balsam Avenue area of Toronto’s east end, with the theft occurring shortly after 6 p.m. on April 30. Details of the Incident According to police reports, three individuals—a man, a woman, and a male youth—entered the jewellery store and executed the theft. The trio managed to flee the scene in an undisclosed direction shortly after stealing the high-value items. Authorities have yet…

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In a significant consumer rights case that has captured widespread attention, Rogelio Villarreal, a 27-year-old doctor from Tamaulipas, Mexico, successfully purchased a pair of rose-gold, diamond-studded earrings valued at over $19,000 for just $19 due to a pricing error on Cartier’s website.  This unusual transaction has spotlighted the enforcement of consumer protection laws in Mexico and their implications for international luxury retailers. Incident Details The earrings, typically priced at 237,000 Mexican pesos, were mistakenly listed for 237 pesos. Villarreal, intrigued by the drastic price difference while browsing through a social media advertisement, proceeded with the purchase. Upon realisation of the…

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Mountain Province reported a downturn in diamond sales from its Gahcho Kué mine in Canada for the first quarter. The company noted a 31% decrease in revenue year-on-year, amounting to $66.1 million over the three months ending March 31. Additionally, there was a slight 2% drop in sales volume, recorded at 938,310 carats, and the average price per carat decreased by 29%, to $95. Economic Influences and Production Metrics The reduction in Mountain Province’s revenue can be attributed to several factors currently affecting the global diamond market. These include broader economic difficulties, a surplus of diamonds in the midstream sector,…

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A significant portion of the 400 kilograms of gold bullion stolen from an Air Canada cargo warehouse at Toronto Airport was reportedly transformed into jewellery in the basement of a local store. This revelation was made by the Peel Regional Police, who discovered smelting equipment in the premises capable of altering the form of gold bars into untraceable jewellery items. Operational Details In a jewellery store in the Greater Toronto Area, police uncovered a basement forge equipped with tools such as an oxy-acetylene torch, crucibles, metal tongs, and moulds. These tools are believed to have been used to melt down…

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BriteCo has expanded its Appraisal Management Software to the Canadian market. This tool, initially released in 2018, is now accessible at no cost to qualified independent retail jewellers across Canada, covering all ten provinces and three territories. Features of the Software The software is a cloud-based platform that automates the jewellery appraisal process. It uses extensive data to assist jewellers in providing accurate valuations for jewellery and watches. The digital platform is designed to streamline appraisal operations and maintain a record of appraisals, facilitating easier access and management. “There are currently over 200,000 appraisals in the BriteCo Appraisal Management Software…

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Ottawa police recently charged two individuals connected to multiple thefts at jewelry stores over the past year. These arrests, made on April 12, concluded a detailed four-month investigation, highlighting the police’s proactive stance against retail crime. Incident Details A series of seven incidents, beginning in late December 2023 and continuing into April 2024, involved various methods of theft, including both unarmed and armed robberies. Notably, a ‘smash and grab’ incident at Doucet Jewelry Store on April 8, which was recorded, significantly raised local and industry-wide concerns due to its brazen nature. Detailed Timeline of Thefts Arrests and Charges Two individuals,…

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Richmond RCMP has recently issued warnings regarding an increase in jewellery fraud cases in the region.  With four incidents reported, the local law enforcement is urging businesses and the general public to be cautious of fraudulent activities involving fake gold and silver jewellery sales. “Unfortunately, these types of frauds resurface periodically in our community,” said Cpl. Adriana O’Malley, Richmond RCMP media relations officer. “We are issuing this public warning to bring awareness and educate people in the hopes of preventing further victimization.” The fraudsters in Richmond have been primarily using two methods to deceive their victims. The first method involves…

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European Design is set to host an industry event in Toronto that will allow jewellery professionals to engage with the latest advancements in jewellery technology. Scheduled for May 27th and 28th at 55 Queen Street East, Toronto, ON, from 9am to 5pm, the showcase will feature top global manufacturers and offer attendees a unique platform to interact with leading-edge jewellery tools and technologies. Engage with Global Innovators Industry Leaders Present Participants will have the opportunity to meet with manufacturers from Italy, Germany, the USA, and Japan. Notable vendors such as Orotig and Legor from Italy, Busch from Germany, GRS from…

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The Canadian Gemmological Association (CGA) is currently accepting submissions for its 2024 Emerging Artist Design Competition.  This annual event aims to highlight the creativity and skill of students and recent graduates from jewellery design and metalsmithing programs across Canada. With cash prizes on offer for the most compelling designs, the CGA seeks to support the next generation of jewellery designers in their professional development. Opportunity for Recognition and Reward Open to individuals currently enrolled in relevant Canadian post-secondary programs or those who graduated in 2019, 2020, or 2021, the competition offers a structured platform for new talent to showcase their…

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White Rock Jewellers, located in the Semiahmoo Shopping Centre in Surrey, B.C., was the scene of a robbery early Monday morning.  This event marks the third such incident for the business, with owner Andy Nguyen estimating the cost of lost merchandise to exceed $100,000, with additional damage to the store’s property. Incident Overview Four individuals, dressed in dark hoodies and with their faces covered, broke into the store and broke glass display cases to steal a variety of items, including silver chains, gold, rings, bracelets, and pendants. The robbery, which lasted around two minutes, was recorded on the store’s security…

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In a recent case unfolding in Toronto, Constable Boris Borissov faces accusations of exploiting his police role to commit crimes, including jewellery theft and fraud, as revealed in a trial that commenced this Monday. Borissov, with a 16-year tenure in the Toronto Police Service, is charged with a range of offences purportedly committed between 2020 and 2022, leading to his suspension with pay from February 2022. Crown’s Opening Statement Prosecutor Samuel Walker, in his opening remarks to Ontario Court Judge Mary Misener, highlighted the gravity of the allegations against Borissov. Walker outlined the officer’s alleged misuse of his position to…

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January 2024’s retail data from the Canadian Jewellery Association reveals a nuanced landscape, marked by promising developments in specific sectors against a backdrop of broader economic considerations. The jewellery sector, in particular, stands out with significant growth, serving as a focal point for understanding evolving consumer behaviors and market trends. Overview of Retail Performance The onset of 2024 saw a 2.9% year-on-year increase in Canadian retail sales, signalling a positive, albeit complex, start to the year. This growth, however, contrasts with a significant month-on-month downturn, with overall retail sales experiencing an 18.6% decline from December, a month typically buoyed by…

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Following an incident at a Markham jewelry store, five individuals, including three youths and two adults aged 18, are facing charges. The event, which took place near Yonge Street and Doncaster Drive on the evening of February 12, prompted a response from York Regional Police after reports of suspicious activity. Incident Details The police were alerted to the situation at approximately 5 p.m. Officers arriving at the scene detained three males, one of whom was found holding a hammer. Two suspects fled in a vehicle, later identified as stolen from a previous carjacking incident in the Toronto area. Further investigations…

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Lucara Diamond Corp. has filed an updated technical report detailing the feasibility study for the underground expansion at the Karowe Diamond Mine in Botswana.  This report, titled “Karowe Mine – Botswana 2023 Feasibility Study Technical Report,” outlines the projections and expectations for the extension of the mine’s operational life and its impact on diamond recovery, revenue generation, and stakeholder benefits. Key Highlights and Implications The updated feasibility study showcases the ambitious plans to extend the Karowe mine’s life by 15 years through an underground expansion project (UGP). The mine, renowned for its large, high-value type IIa diamonds, is positioned in…

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In a significant development within the Canadian jewellery industry, H&R Design Jewellery Ltd., led by Jack and Raffi Libarian, has acquired the Max Strauss Signature Collection from B&S (Canada) Inc. This strategic move marks a period of growth and innovation for H&R Design Jewellery, merging the distinguished Max Strauss brand with H&R’s innovative design ethos. Strategic Integration of Heritage and Innovation The acquisition incorporates the Max Strauss Signature Collection, known for its Designer Series and as the Product Line of the Year by Canadian Jeweller Magazine, into the portfolio of H&R Design Jewellery Ltd. This merger is seen not just…

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York Regional Police arrested five teenagers following a robbery attempt at a jewellery store located at Yonge Street and Doncaster Drive in Markham. The operation also led to the recovery of a vehicle reported stolen in Toronto. Authorities were alerted around 5 p.m. about suspicious individuals near the store. Upon arrival, police detained three suspects; two initially fled but were subsequently apprehended. Further investigation connected the suspects to a vehicle stolen in a violent carjacking in Toronto. On February 21, the vehicle was located in Whitby, leading to more arrests. Search warrants in Ajax resulted in the seizure of a…

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