Frederick Goldman Names John Orrico COO

John Orrico, Chief Operating Officer of Frederick Goldman Inc.

(Press Release) Frederick Goldman Inc. has promoted John Orrico to chief operating officer, a newly created position.

Orrico most recently held the title of executive vice president, Operations, for the organization, successfully overseeing product development, manufacturing and supply chain since he joined in 2012.

“John has demonstrated leadership and championed process improvement since he began with the company,” says Jonathan Goldman, Frederick Goldman chairman and CEO.

“He’s been instrumental in leading the company’s global operations, creating new revenue streams and cultivating new and existing talent. In this new role, John will continue to be a key contributor to our growth strategy going forward.”

Orrico brings his 25-plus years of experience to key areas of oversight, including manufacturing, product development, supply chain management, procurement, inventory planning and quality-control for the company's global operations.

Prior to his tenure at Frederick Goldman, John served as senior vice president at Birks & Mayor’s and as group vice president of supply chain at Tiffany & Co., where he was the architect of their vertical integration strategy.

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IDEX Online Polished Price Changes – May 29, 2015

by Danielle Max

(Press Release) Trade in rounds continued to be extremely sluggish this week with relatively few changes, although there was a little more movement than in previous weeks. Once again, most of the moment was in the lower colors. The little movement seen was generally positive, with 5-carat and larger stones seeing a drop in prices, especially in the better colors and mid-range clarities.

Once again, there was more movement when it came to fancy cut diamonds. The smaller sizes (below 0.8 carats) saw positive movement mostly in the better qualities, while items above 1.25 carats saw more activity in goods towards the mid- and low-range of the spectrum.  

Following are some of the main changes in this week's IDEX Online Diamond Price Report.

To receive a free copy of the full IDEX Online Diamond Price Report, contact prices@idexonline.com.

Rounds

  • 0.18-0.22 cts F / SI1 up 4%
  • 0.23-0.29 cts no change
  • 0.30-0.39 cts K / SI1 up 3.5%
  • 0.40-0.44 cts M / SI1 down 4%
  • 0.45-0.49 cts G / SI3 down 3%
  • 0.50-0.69 cts no change
  • 0.70-0.79 cts K / VVS2-1 up 2% and L-M / I1 up 4%
  • 0.80-0.89 cts a few positive changes including K-L / VS2-SI1 up 2%
  • 0.90-0.99 cts a few changes including I / IF down 3% and I / VS2 and I1 up 2-4%
  • 1.00-1.24 cts no change
  • 1.25-1.49 cts K / VVS2-VS1 and I1 up 2-3%
  • 1.50-1.99 cts J-K / I1 up 3%
  • 2 cts K / SI2-I1 up 3-4%
  • 3 cts no change
  • 4 cts D-E / VS2 down 3%
  • 5 cts D-G / VS1-SI1 down 1-3%

Fancy Cuts

  • 0.18-0.22 cts no change
  • 0.23-0.29 cts I / VS2-SI1 down 5-5.5%
  • 0.30-0.39 cts F and I / VVS1 up 2-3%
  • 0.40-0.44 cts D-E / VS2-SI1 up 2-4%
  • 0.45-0.49 cts I+ / VVS1+ up 2-4%
  • 0.50-0.69 cts changes including J-N / VVS1+ up 2-4% and M-N / VS1 up 5%
  • 0.70-0.79 cts E-F / IF up 3% and E-G / SI2 up 1-4%
  • 0.80-0.89 cts no change
  • 0.90-0.99 cts a few changes including D / SI2 up 2% and H / SI3 up 3%
  • 1.00-1.24 cts D-E / VVS1 up 1-3% and H / VS2 and SI3 up 3-3.5%
  • 1.25-1.49 cts changes including G-I / I1 up 3% and F / I2 up 4%
  • 1.50-1.99 cts D / VVS1 and SI1-2 up 3-3.5% and E / SI2-I2 up 2-3.5%
  • 2 cts changes including  I / SI1-I1 up 2-2.5% and L / VVS2-SI1up 2%
  • 3 cts D-E / VS2-SI1-I1 up 2-3% and H and J / SI2 up 3%
  • 4 cts changes including G / IF and VS2 down 2-3% and K-N / SI1 up 2-3%
  • 5 cts no change
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New Forevermark Salon Opens at LUXURY 2015

(Press Release) Forevermark has opened its expansive salon today at LUXURY 2015. The 5,300-square-foot salon space provides an immersive brand experience and should inspire attendees to lead positive change in the diamond industry.

Guests enter the salon to find the full range of Forevermark diamond product available from all 26 Forevermark suppliers including two new collections from partners The Dalumi Group and The Pluczenik Diamond Co.

Forevermark Golden Diamonds, a joint offering from Forevermark and The Dalumi Group, features .50-carat-plus yellow Forevermark diamonds ranging in color from Light Yellow to Fancy Vivid Yellow, set in handcrafted, one-of-a-kind platinum jewelry. The Forevermark Light Yellow color grade spans O to Z and meets the Forevermark Diamond Institute¹s stringent standards for beauty.

The Integré Collection, the two-time winner of the Forevermark Solitaire Diamond Design contest, is also featured in the salon. The entirety of the collection is on view at the Pluczenik Diamond Co. pedestal in the salon.

The interactive space is a resource for visitors to learn about Forevermark¹s latest programs, including marketing and public relations activities, partnership such as material on the new brand environment program, visual merchandizing and packaging, and training resources, and complete access to product offers highlighting bridal collections and the Forevermark Exceptional Diamond Collection.

Appointments are available throughout the week with Forevermark suppliers and brand representatives. Attendees are encouraged to enjoy the Forevermark lounge area throughout the show.

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WFDB President Ernie Blom Expects JCK Show to Provide Solid Results

(Press Release) World Federation of Diamond Bourses President Ernie Blom believes the May 29-June 1 JCK Show in Las Vegas will demonstrate that the U.S. market is solid and providing a strong base at a time of varied challenges for the global diamond industry.

"With other large markets proving to be somewhat weak currently, it is critical that the United States continues to serve as a strong anchor," said Blom. "I don't think anyone believes the results will be spectacular, but we can expect to see a reasonable level of trade.

"There is a danger of an over-reliance on the American market, which is not helpful; however it remains by far the most important country in the world in terms of diamond jewelry sales. I would like to see a return to stronger sales figures, both in the United States, as well as in developing countries, but the show can provide a shot of optimism for the global trade and that is important.

"The JCK Show will also give the worldwide diamond industry a good indication of the state of the markets currently. And with the Presidents Meeting of the WFDB and the International Diamond Manufacturers Association taking place two weeks later, the presidents will have a clearer picture of the strength and direction of the market."

The Presidents Meeting will be held in Tel Aviv from June 14 to 16.

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