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United Kingdom Intellectual Property Office Publishes Application for Trademark angel’s face to Little Linens for Costume Jewellery, Materials
By admin | Published: January 24, 2010

Little Linens, London, has applied the trademark angel’s face (customer’s reference: AF trademark) for Opposition Purposes Under the 1994 Act, published by the United Kingdom Intellectual Property Office.

The trademark application (serial number 2532688; journal number 6817) was tiffany filed on Nov. 17, 2009 and was published on Jan. 1.

The description of the mark registered is: “costume jewellery. Handbags, leather goods. childrens clothing.”

The goods/services for which registration was sought are “Costume Jewellery, Materials.”
Posted in jewelry | Tagged tiffany | Comments closed
Investors outshone jewellery buyers in gold rush of 2009
By admin | Published: January 22, 2010

Investors bought more gold than buyers of jewellery for the first time in three decades in 2009, highlighting the increasing impact of speculators on bullion prices.

GFMS, the consultancy that compiles benchmark supply and demand data on the metal, tiffany jewelry yesterday said that investment demand doubled to 1,820 tonnes last year, while jewellery purchases fell 23 per cent to 1,687 tonnes, a 21-year low.

The data provide the clearest indication of the big role investors played in driving gold to a record high of $1,226.10 a troy ounce in December.

Philip Klapwijk, executive chairman of GFMS, told the Financial Times he sensed that a “large amount of money” was poised to enter the gold market this year. He predicted a “bumpy” return to record prices by the summer on the back of loose fiscal and monetary policies and US dollar weakness.

Mr Klapwijk warned that although investors could buy more gold this year, the market would become “increasingly vulnerable” to a big correction when the circumstances favouring investment disappeared.

“As the macroeconomic environment gradually normalises, the gold market’s dependence on investment will become all too apparent with a substantial price retreat at that point on the cards,” Mr Klapwijk said.

The surge in gold prices, from $250 an ounce in 1999 to last year’s record, has depressed tiffany money clips jewellery sales, traditionally the backbone of consumption. Gold was trading yesterday at $1,128 a troy ounce.

The global economic crisis has also affected demand, particularly in India, the world’s largest buyer.

GFMS said jewellery demand had fallen by almost half since reaching a peak of 3,294 tonnes in 1997.

Traders said gold prices need to drop below $1,000 an ounce to ensure a revival in jewellery demand, as the currencies of key consuming countries such as India and Turkey depreciate against the dollar, increasing the local cost of bullion.

On the supply side, China cemented its position as the world’s biggest gold producer. A further fall in South Africa’s output, down 5 per cent on the year, saw it relegated to third position behind Australia. It had been the top producer for more than a century until 2007.

In total, global mine supply rose 6 per cent to 2,553 tonnes, a six-year high, helped by a tiffany pendants jump in output from Indonesia.

Net sales from central banks dropped 90 per cent to 24 tonnes in 2009, the lowest level in more than two decades.
Posted in money clips, pendants | Tagged tiffany money clips, tiffany pendants | Comments closed
One to watch as US slowdown hits
By admin | Published: January 21, 2010

Francesco Trapani, the chief executive of Bulgari, has some news for those analysts and investors feeling pessimistic about his company’s prospects.

“If you look at the global numbers we are not suffering,” he says. “The consolidated sales are good and the company continues to grow significantly.” Rome-based Bulgari is one of the few well-known names in jewellery, alongside Tiffany and Cartier, and Mr Trapani thinks it is not going to be hit badly by the coming downturn.

Many in the market disagree, and will be watching today’s announcement of 2007 results with interest. Standard & Poor’s has a sell recommendation on the shares. Goldman Sachs recently downgraded necklaces the company from a buy recommendation to neutral. The shares have fallen almost 30 per cent in six months, as other luxury-goods manufacturers such as Luxottica, Tod’s, Richemont and Coach have been hit to varying degrees by a slack Christmas period and a wider slowdown in sales.

Almost everyone in the industry is expecting the credit crisis to hurt sales in the US in particular, but views luxury goods as a cyclical industry that will bounce back in time.

Actually, Mr Trapani does not agree with that assessment either. He told the Financial Times that the building of brand names, which takes a long time, makes luxury goods companies fairly impervious to downturns. “I don’t see (the business) as pendants very cyclical. . . I see it as pretty resilient.”

He says even great shocks such as the terrorist attacks of 2001 had short-lived effects on the company. “After September 11, this company was down 3-4 per cent for three or four quarters.”

That is not to say the composition and geography of Bulgari’s sales are not changing. “We are seeing a pretty soft business in the US and in some important European countries . . . (But) almost all of Asia is going extremely well and counterbalancing (that softness).”

The components of Bulgari’s profit are also changing. The company used to make a great deal more of its money from expensive watches. In the Bulgari store at Rome’s Fiumicino airport some of the most expensive do not have prices marked, while others run up to a mere Euros 18,400 (Dollars 28,200).

Such watches are Bulgari’s highest margin products but their sales acc-ounted for just 27 per cent of revenues last year compared with 45 per cent 10 years ago. “It’s true that when we lose sales in watches it’s particularly painful,” says Mr Trapani, adding that there have been component supply problems, which the company hopes have passed.

It is making up the difference in profitability with “prudent” price increases, reflecting the growing ability to use the Bulgari name. It is also broadening its offering and has just started selling skincare products.

Mr Trapani is relatively relaxed about the share price. “The stock price moves from expectations and speculation,” he says.

The company’s family background and continued 52 per cent hold on the shares allows him a long-term view. Mr Trapani is from the third generation after Sotirio Bulgarifounded the company in 1884. The secret to longevity and avoidance of family feuds has been to buy out almost all family members. Only Mr Trapani and his two uncles – Paolo and Nicola – are still involved. The uncles are chairman and vice-chairman and part of a board in which they are outnumbered by independent directors.

When Mr Trapani became chief executive in 1984 key rings he was 27 – “too young”, he says – and Bulgari had just five stores. Growing to a group with 250 outlets involved a public listing in 1995 and the imposition of modern governance standards. “I was convinced the only way to succeed was to have a system of total meritocracy . . . We should try to avoid (like other family companies) a cousin in accounting and a sister in marketing,” Mr Trapani says.

But he admits the company sometimes acts in ways that may not please investors looking for strong growth every quarter. “The motivation that we have is not quarterly results. It is much more long term. We want to be the largest, the most prestigious brand in 10 years. Every now and then we may have numbers that are a bit less bullish than the financial Money Clips community might expect because we are determined to make investments.”
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Ebay survives Tiffany challenge on fakes
By admin | Published: January 20, 2010

Ebay yesterday survived a potentially devastating legal challenge to its online auction system after a tiffany US judge refused to back a claim by Tiffany that the internet company should be held liable for the sale of counterfeit jewellery on its site.

The decision, after a trial lasting four years, removed the immediate threat Ebay would be forced to make big changes to its highly profitable online auction system to try to prevent the sales of counterfeit goods.

An adverse ruling could have forced the company to take possession of goods on sale in its markets to check them bangles for authenticity, or led to it blocking the sale of high-risk items, such as those bearing luxury jewellery and fashion brands.

While siding with Tiffany, judge Richard Sullivan conceded that the rapid growth of the internet, which had made it easier for buyers and sellers to find each other, had also “given counterfeiters new opportunities to expand their reach”.

He added that under current law Ebay should not be held liable, and it was up to lawmakers to decide if rings trademark owners were adequately protected.

The ruling, in Federal court in the southern district of New York, comes shortly after the US internet company lost a similar case in France, where a court sided with luxury goods maker LVMH.

The US case was considered more significant, given the size of the market and the risk of a higher damages award. After the LVMH decision, Ebay said anti-counterfeit measures introduced since the case was filed had already dealt with the issues raised by the case.

A lawyer for Tiffany did not return calls for comment, and it was unclear in the immediate aftermath if Tiffany would bracelets appeal.

Judge Sullivan, whose decision came after a bench trial that did not involve a jury, ruled that Ebay could not be held liable for contributory trademark infringement, as Tiffany had claimed. To be found liable, Ebay would have had to have let specific sellers of counterfeit items continue to transact on its site, even after it knew they were infringing Tiffany’s trademark, he said, adding, it was up to companies to police their own trademarks.
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damas unveils annamaria cammilli’s new floral merchandise
By admin | Published: January 20, 2010

Spreads a highly versatile and sophisticated array of jewels this seasonDamas, the world renowned jeweller and watch retailer, unveils Annamaria Cammilli’s new floral fantasies in the form of pendant chains, earrings, brooches and rings for women of discerning taste. Fusing the warm glow of gold in all its multi-hued versions with the dazzle of diamonds and various coloured stones such as amethysts, fume quartz and onyx, the ‘Lady of Flowers’ once again delights us with jewels inspired by nature, her perennial muse. Tawhid Abdullah, Managing Director Damas Jewellery, commented, “Cammilli’s designs capture nature’s essence to transform it into designs displaying a delicate play of light and colour. Intricate workmanship offers charming and beautiful jewels that present a lifetime of joy for its wearer.”

Cammilli’s rare artistry displays destiny’s hand at work. Her brand of jewel-making, while having roots in the old goldsmith traditions, continually researches and incorporates technology. The ‘painterly’ effect is achieved with the help of four new alloys that offer as many tonalities of gold for experimentation in work and finish. Today, the designer collaborates with her designer-daughter Raffaella and top Florentine goldsmiths to bring her unique designs to life.

Delectable new jewelsAs a collection celebrating the beauty of the most romantic blossom in fully unfurled glory, the jewels in Black Rose see blooms whose every petal is painstakingly ’sketched’ and highlighted by diamond dazzle. Simply pick your blooms in mysterious shades of black rhodium, orange gold or your perennial favourite yellow gold in a spread of pendant chains, earrings and rings. The Hypnosis collection blends orange gold, white gold with a delicate sprin-kling of diamonds with a smoothly polished pendant chains.

The Boheme’s rings capture the charm of rose blooms whose petals are ruffled by the wind in a blend of pink gold touched by diamond glitter, and the Cashmere collection sees the designer recreate the rose in yet another neo-art version casually spinning thin gold chords around large oval shaped pink amethysts, prasiolites and fume quartz to present pendant chains and rings dotted by diamonds.

Next in line is the Calle collection where Cammilli allows her fans to explore the famed beauty of calle lily flowers through a poetic spread of pendant chains, stud earrings and rings blending orange gold, white gold and diamonds. While the Glam collection offers riveting pendant chains crafted in pink and orange gold with diamond sparkle, the Horizon collection unveils a sophisticated array of jewels featuring a round design motif bringing together tiny rose buds on one side and a luminous hued stone such as onyx, corniola or green amethyst rising like a sun on the other side. Between these two realms runs a thin ‘wave’ of diamonds.

Capturing sunflowers and ears of corn in ‘candid’ portraits is the Le Collier collection with pendants strung on chains made up of unusual shaped links. While rounding off the array is the Spighe collection unveiling graceful pendant chains and earrings in orange and white gold with diamonds, in jewels featuring ears of corn as design motif.

Select from Cammilli’s delightful floral merchandise offering highly versatile and fashionable jewels available today at select Damas Les Exclusives Boutiques across UAE.
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Fast-Fashion Retailers Outpace Competitors
By admin | Published: January 19, 2010

Fast-fashion specialty retailers with exceptional speed-to-market have outperformed department stores and less nimble specialty stores not only in their profit margins, but also in their pace of revenue growth, according to a study by The Sage Group LLC’s Apparel and Retail Group.

Surveying results from 47 retailers, all of them publicly held and the overwhelming majority of them based in the U.S., Sage found in the last 12 months, the five stores with the best EBITDA margin earnings before interest, taxes, depreciation and amortization as a percentage of sales were Hennes & Mauritz, at 23.4 percent; The Buckle Inc., at 22.5 percent; Zara operator Industria de Diseno Textil SA (Inditex), at 20.3 percent; Urban Outfitters Inc., at 19.8 percent, and Fast Retailing Co. Ltd., owners of Uniqlo, at 18.6 percent.

Other specialty retailers such as Gymboree, Jos. A. Bank Clothiers Inc., Aropostale Inc., Gap Inc. and American Eagle Outfitters Inc. filled out the top 10 rankings with marks ranging from 18 percent down to 13.9 percent, but Kohl’s Corp. distinguished itself as the best broadlines retailer with an 11th-place finish at 12.6 percent.

Abercrombie & Fitch Co. (11.7 percent) and Limited Brands Inc. (11.6 percent) followed, before the first upscale department store appeared on the list, Nordstrom, whose 11.4 percent mark placed it at 15th. Macy’s Inc. was 18th with a 10.5 percent EBITDA margin.

The other stores in Sage’s retailing universe to finish with a margin above 10 percent were off-pricers The TJX Cos. Inc. and Ross Stores Inc. (10.1 and 10 percent, respectively) and two others with a 10 percent margin, Zumiez Inc. and Bebe Stores Inc.

Sage also noted the fast-fashion subset has achieved strong growth as well, with the three-year revenue growth rates of Fast, Inditex and H&M far outpacing those of department store firms, several of which have had declines over the three years studied. American Apparel Inc. was first on this list with a compound annual growth rate of 39.8 percent, followed by Fast (24.3 percent), Zumiez (19.8 percent), Buckle (18.2 percent) and Urban Outfitters (16.3 percent). The bottom half of this top 10 were Aropostale (15.2 percent), The Bon-Ton Stores Inc. (14.5 percent), Dick’s Sporting Goods Inc. (14.1 percent), Inditex (13.9 percent) and Jos. A. Bank Clothiers (14.1 percent). H&M scored 11th, with 12.1 percent, followed by J. Crew Group Inc. (12 percent). Bon-Ton’s growth rate can be partially attributed to acquisitions, including its purchase of Saks Inc.’s Northern Department Store Group in 2006.

Measured by gross margin in the past 12 months, Abercrombie & Fitch was best, at 65.1 percent of sales, followed by Jos. A. Bank Clothiers (61.5 percent), H&M (60.3 percent), Inditex (56.6 percent) and American Apparel (55.5 percent).

On a market-cap weighted basis, stock prices for the fast-fashion subset have gained 17.3 percent over the past year, trading at 11.3 times [EBITDA for the last 12 months], on average, Sage noted. By comparison, the department stores cited in the study Macy’s, J.C. Penney Co. Inc., Nordstrom and Dillard’s had seen their stock prices decline 17.8 percent over the last year and were trading at an EBITDA multiple of 7.9 times.

Among apparel firms, the EBITDA margin was highest among two brand management firms Iconix Brand Group and Cherokee Inc., at 71.3 and 66.6 percent, respectively followed by Coach Inc. (33.9 percent), True Religion Apparel Inc. (27 percent) and Tiffany & Co. (21 percent). The top 10 included Guess Inc. (18.9 percent), Polo Ralph Lauren Corp. (16.9 percent) and Gildan Activewear Inc. (14.8 percent).

Frederick Schmitt, managing director of Sage, was lead editor of the study.
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SINGAPORE: FINE JEWELRY MARKET
By admin | Published: January 18, 2010

This report provides information on the Singapore market for fine jewelry. It includes diamond jewelry, natural/cultured pearls, gold jewelry and precious and semi-precious jewelry.

According to the World Gold Council (WGC), gold demand in Singapore reflected the effects of the regional economic and currency crisis in the first quarter of 1998 by falling dramatically. With no recovery in the second quarter of 1998, the retail market remained cautious in the face of the prevailing economic conditions. Total demand fell by almost half compared with the second quarter of 1997. Jewelry consumption was down sharply and investment demand remain unchanged.

Statistics on Singapore, compiled by the WGC, indicate that between 1997 and 1998, gold consumption (jewelry and gold bars/coins) in Singapore was down by 37%. Gold imports in 1998 were 166.9 tons, 59% below 1997’s 403.9 tons. Though the impact of the regional economic crisis was less dramatic in Singapore than in neighboring countries, there was no sign of a significant recovery. Sales were brisk just before Christmas, but this was insufficient to increase demand for the entire last quarter. Purchases were primarily cheaper items e.g., white metal, especially 18k white gold.

Preliminary estimates by De Beers, a worldwide diamond consortium that controls two-thirds of the world’s diamond business, indicate that worldwide diamond jewelry sales dipped by about 4.0% to around US$48 billion last year.

The statistics compiled for this report are from the Singapore Trade Development Board (TDB) for the following products:
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Drug bust nets 20; cash, cars, jewelry confiscated
By admin | Published: January 17, 2010

The Narcotics and Gang Investigations Section (NAGIS) of the Chicago Police Department dubbed their latest crackdown on drug trafficking in the North Lawndale area as “Hill Street Blues II.”

But this one, unlike the television version of the famous cop drama, tiffany had no commercials.

NAGIS Commander Eugene Williams said at a press conference Wednesday that his unit capped a seven-day roundup by arresting 17 individuals while issuing warrants for the arrest of three more. Investigators also recovered more than $111,000 in cash, eight cars (two had traps for hiding guns and narcotics), jewelry, furs, computers, jet skis and a motorcycle.

“We will be making more arrests and more seizures,” Williams declared while addressing the media at the police department’s Homan Square storage facility. “We’re confident that we’ve eliminated this particular operation,” he said in response to questions about ongoing narcotics trafficking city-wide.

Community, school and political leaders in the North Lawndale area held a press conference in front of the Penn Elementary School near 16th and Avers Avenue to discuss the increase in gang violence and drug sales following the murder of a high-ranking gang member. Later, Supt. Terry G. Hillard directed the NAGIS to address community concerns and improve the quality of life in the area.

After several months, NAGIS was able to identify a principal supplier of drugs to the target area. Williams identified 29-year-old Reginald Smith of the 400 block of North Wabash as the supplier to the narcotics operation.

Smith, along with co-conspirators Marco Smith, 23, of the 19000 block of Marylake Lane in Country Club Hills and 23-year-old Marcus Johnson, of the 300 block of North Pine, face charges that can net them as much as 30 years imprisonment for conspiring to distribute white heroin in the target area.

Evidence of their involvement and roles in the conspiracy has been documented, which includes undercover buys and surveillance videotapes that were presented to the Cook County state’s attorney’s office.

“Living this so-called good life comes with a stiff price,” said Williams. “First and foremost, you become morally bankrupt when you deal narcotics.

“What price is someone willing to pay to be the `King of the Hood?’ One’s Soul?”

Besides cash, vehicles, including a 1997 Cadillac Catera; 2000 Mitsubishi Montero 4X4; 1999 Mercedes Benz CLK 430; 2000 Range Rover (containing hidden compartment to conceal drugs, cash and weapons); 1997 GMC Savanna Conversion Van; 1999 Range Rover; 1996 Ford Taurus (with hidden compartment); and a 1997 Oldsmobile Ciera were confiscated.

Weapons include two 12 gauge shotgun; Taurus .40 caliber pistol; .40 Smith and Wesson pistol; .45 caliber handgun; .44 caliber Magnum handgun; .38 caliber revolver; .32 caliber five-shot revolver; .45 caliber Ruger semi-automatic pistol; two 9 mm semi-automatic pistols; .25 caliber automatic handgun; and a .357 Magnum handgun.

Along with 52 grams of white heroin with an estimated street value in excess of $9,000, undercover investigators also confiscated six computers, a motorcycle and several items of jewelry including two Cartier watches, a Rolex watch, a Movado watch, diamond earrings and a diamond tennis bracket.

Also seized under the Asset Forfeiture Unit of the Organized Crime Division and Federal agencies were two fur coats, a 50-inch color television with a video cassette recorder, a fax machine and a currency counter.

Investigators concluded that 18-year-old Kenyana Porter, of the 1600 block of South Harding, and 28-year-old Tiffany Harris worked in a capacity similar to that as “bag ladies.”

Runners arrested include 26-year-old Jack Pearson of the 1400 block of South Lawndale; 30-year-old Anthony Burris of the 1400 block of North Lotus; 18-year-old Quinton Charles who has not been captured but a warrant issued for his arrest; 25-year-old Darnell Hudson of the 200 block of North Laporte; 19-year-old Toyious Taylor, who is not in custody; 17-year-old Martay Brown of the 1800 block of South Harding; and 18-year-old George Brown of the 1600 block of South Harding.

The primary sellers of the group include 34-year-old Trainer Cunningham of the 1800 block of South Hamlin; 17-year-old Kenneth Walley of the 1500 block of South Harding; and 33-year-old Ramona Sims. Investigators also arrested a 15-year-old juvenile in possession of firearms. Williams did not disclose his name.

Expressing relief that this narcotics operation was brought down by police was Rev. James Wolfe, pastor of the Lawndale Christian Reform Church. “I was out there last fall when there were hot tempers and people were trying to jump all over the commander,” he said.

“Lawndale is a good neighborhood and I just want to say thank you to the police for a job well done,” he concluded.

“This is about the fourth operation that yielded positive results,” said community activist Michael James. “We’d like to thank the agencies involved that help make our community better.

“We hope this will encourage residents to partner with the police to improve the quality of life in our community,” he concluded.

Article Copyright Sengstacke Enterprises, Inc.

Photo (The westside bust recovered $111,000 in cash, guns and computers.)
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Jewelry Chain Zale Stops Tanzanite Sales Due to Questions over Terrorism Links
By admin | Published: January 17, 2010

Zale Corp., the Irving-based jewelry chain, has suspended sales of jewelry containing the rare, blue-violet stone known as tanzanite because of its possible links to terrorism.

As of Jan. 1, Zale pulled tanzanite jewelry from its stores, following its own investigation of reports that proceeds from the sales of the gemstone were possibly used to finance Osama bid Laden’s al Qaeda network.

“This is one of the murky situations where everyone can tell you a pretty compelling story about why it isn’t true and why it is true,” said Susan Lanigan, Zale’s senior vice president and general counsel. “We have not been able to prove or disprove there is a link.”

Nevertheless, Ms. Lanigan, who personally handled the Zale investigation, said she believed the corporation could not “comfortably” protect the Zale brand’s integrity.

Al Qaeda’s traffic in the gemstone trade, including tanzanite, was detailed during a federal trial last year into the bombings of U.S. embassies in Kenya and Tanzania in 1998. Among the four bin Laden followers convicted was Wadih el Hage, a former Arlington resident who served as bin Laden’s personal secretary and testified that bin Laden’s businesses were legitimate.

The move by Zale follows similar action taken last November by QVC Inc., a large jewelry retailer that suspended sales of tanzanite jewelry through its Web site, retail outlets and a television network. Zale is the nation’s largest operator of speciality jewelry stores with more than 2,300 outlets under such names as Zales, Gordon’s Jewelers, Bailey Banks & Biddle and Piercing Pagoda.

In addition, in a note to customers at its stores, Zale offers to take back any tanzanite products purchased from the store in the past.

The gemstone is found only in northern Tanzania, an impoverished nation on Africa’s east coast. Once mined, the stones make their way through a Third World labyrinth of dealers, and then cutters and polishers, largely based in India and Thailand. Then the jewels are sold to jewelers, who supply the actual stores.

Ms. Lanigan said she contacted some 48 tanzanite vendors of the Zale Corp. to try to understand the mining business further, the extent of the gemstone smuggling from Tanzania and whether the trade could possibly be linked to the al Qaeda network.

“I don’t think there is a clear picture of how many hands are touching tanzanite,” Ms. Lanigan said. “People are always accusing others of slipping into their stakes. It is impossible sitting here thousands of miles away to get any clear picture.”

Sales of tanzanite jewelry represent less than 1 percent of Zale’s $2.07 billion in sales in the last fiscal year.

But Ms. Lanigan said, “We don’t want to be forever out of the tanzanite business. We hope this issue will be resolved so that we can be comfortable.”

Gem and jeweler trade associations in the United States and Tanzania have reacted harshly to reports linking the tanzanite trade to Mr. bin Laden’s terrorist network. Defending their trade practices, the groups have said that the vast majority of exporters and dealers have no ties to terrorist organizations.

“There is no question that there is a connection,” said Cap Beesley, president of the American Gemological Laboratories in New York, which tests colored gemstones. “That came out in the embassy bombing trials. The point we are trying to make is what is the extent of the connection and what do about it.”

Mr. Beesley urged restraint. He compared it to the controversy over “blood diamonds” or “conflict diamonds” in Africa where revenue from the diamond trade has been used to arm rebels with advanced weapons and enlist new soldiers in civil wars.

“Tiffany didn’t stand up and say we are not going to sell diamonds anymore,” Mr. Beesley said. “QVC didn’t stand up and say we are not going to sell diamonds and Zale spent more on diamond advertising than ever this past Christmas season.”

The diamond industry has attempted in recent years to determine the origin of the diamonds and a system for tracking their movement. No such procedures are in place for tanzanite, Mr. Beesley said.

Before the reports of its links to terrorism, tanzanite was best known as the large jewel in the necklace tossed to the seas by the protagonist in the movie Titanic. An Indian prospector, looking for sapphires, was led to the gems in Tanzania in 1967. Tiffany & Co. then launched a high-end marketing campaign for the gem it christened “tanzanite.”
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Jewelry stores make old University Building sparkle
By admin | Published: January 15, 2010

The University Building on the 16th Street Mall in downtown Denver is the closest thing the metro area has to a diamond district like New York City’s fabled 47th Street.

The century-old, 140,000-square-foot structure with Old World brass and marble accents at 910 16th St. houses several floors of retail jewelry stores, jewelry repair shops and diamond wholesalers. Many of the businesses have been there for decades.

“It’s kind of a throwback building,” said Toni Mathews, vice president and retail broker at CB Richard Ellis Inc. in Denver. “Years ago it was the jewelry district in Denver, and it’s remained that way.”

Bob Kortz, president of Kortz Jewelry Co. on the building’s street level, doesn’t recall exactly how long his family has operated that store, but he thinks it’s 80plus years. Kortz remembers clearly, though, when he went to Vail to sell a black diamond to rock ‘n’ roll legend Elvis Presley.

“That’s part of our history,” Kortz said.

Jay Feder jewelers has been in the University Building 25 years, and in that time, Jay and Celia Feder have welcomed their son Marc into the business. Jay also hasmaintained a side job as a mohel; he had a bris in Boulder just the other week.

“The air conditioning here is not working perfectly, but at my age, I’m not working perfectly,” Jay Feder said. “There’s just something nice about a vintage building.”

Mayer Jewelers on the 10th floor came to the building only 16 or 17 years ago, according to part-owner Lawanda Woodard. But the store is celebrating its 124th anniversary this year, making it one of the Denver area’s oldest jewelry storesif not the oldest.

“I think we’re the oldest,” Woodard said.

Early tenants in the University Building, which opened in 1910, were attracted by its modern design and high technology.

The structure was designed by top Denver architects William E. Fisher and Arthur A. Fisher. The brothers also designed a handful of downtown Denver banks, including Colorado National, in the early 1900s as well as the Denver Country Club clubhouse. They created the precursor of the University of Colorado Health Sciences Center – the old University of Colorado School of Medicine and Hospital, which opened in 1925.

When the 12-story University Building opened as the A.C. Foster Building, named after its first owner, it was one of Denver’s first “high rises,” according to manager David Kaufman. Built of steel and concrete, it supposedly was the first “fireproof building west of the Mississippi River.

The property currently is owned by a group of Denver investors called 910 Associates Inc. The group was incorporated in 1991 and acquired the building about the same time.

Its name changed to the University Building in the 1940s, after Foster donated the structure to the University of Denver as an investment property.

Over time, the building became something of a haven for smaller, often new businesses. The late Byron “Whizzer” White – University of Colorado football star, Rhodes Scholar, U.S. Navy officer, U.S. Supreme Court justice and Denver federal courthouse namesake – had an office there when he practiced law.

Jewelry businesses like the University Building especially because of its security system, which includes alarms, surveillance monitors and security guards. Access to upper floors, where many jewelers are located, is limited to elevators and stairs.

Tenants that make and repair jewelry appreciate that the University Building is one of the last Denver office buildings fueled by natural gas, needed for soldering torches. Hanson & Glassman Jewelers on the 16th floor, one of the few places in the area that fixes American Indian jewelry, needs a feature like that.

Perhaps the building’s biggest asset for its jewelry tenants is the synergy of having so many similar businesses in one place.

Among the stores’ biggest customers, for example, are engaged couples in need of engagement and wedding rings. At the University Building, couples can wander from store to store and floor to floor, all under one roof.

“Seventy percent of our business is loose diamonds, and 90 percent of that business is bridal,” said Jay Feder, who hopes to hit $5 million in sales this year.

Other jewelry customers range from visiting professional baseball players and dignitaries attending international meetings such as 1997s Summit of the Eight to downtown Denver business people.

Because of the building’s relatively low rent – $10 to $12 per square foot a month jewelers offer bargain prices to entice customers. Mayer Jewelers sells watch batteries “cheaper than anybody else” and offers its own financing, according to Woodard.

“I think we’re the only jeweler left in town to do that,” Woodard said of the financing.

The recent soft economy actually has been good for some of the building’s jewelers because of their discount prices. During good times, jewelry shoppers often go someplace such as Tiffany’s because of its prestige. But during tough times, they go to the University Building for bargains.

With that synergy comes a sense of community the jewelers value as much as any of the University Building’s other attributes. Even though many tenants compete with each other, they also collaborate.

As neighbors, they can band together for a common purpose, such as solving the problem of indigent street people congregating at the building’s entrance and inhibiting customer traffic. Recently, building occupants met with representatives of the Denver police, City Council, mayor’s office and 16th Street Mall manager Downtown Denver Partnership Inc. to hash out a solution.

One idea that came from the meetings is for the yellow-jacketed “ambassadors” located on the mall to assist visitors to also gently encourage street people not to block the building’s front door. The University Building’s street-level McDonald’s fast-food restaurant, a major magnet for the homeless, hired a security guard as well.

Occupants contend once people get through the front door, they’ll be surprised at what they find in the University Building.

There even are non-jewelry businesses, including a barbershop, hair salon and collectible stamp store. Office tenants include architects, attorneys, accountants and real estate professionals.

“We’re just somewhat of a diamond in the rough,” Kaufman said.
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