UAE : Damas-IDL Diamond Family Workshop launched

March 3, 2008

Damas, the leading international jewellery retailer in the Middle East, in partnership with International Diamond Laboratories (IDL), a subsidiary of the Dubai Multi Commodites Centre (DMCC), has launched a special workshop to educate jewellery lovers on the basics of identifying authentic diamonds.

Dubbed as ‘Damas-IDL Diamond Family Workshop,’ the pioneering initiative rolled out with a special session for the Sharjah Ladies Club. It is open to all women and their families and will be held in strategic venues across the UAE throughout the year.

As an acknowledged leader in the jewellery industry, Damas is taking concrete steps in educating its existing and prospective clientele amidst the proliferation of all types of diamonds in the local market.

Besides imparting basic knowledge on the 4 C's of diamond appreciation - Colour, Cut, Clarity and Carat, the workshop aims to build awareness of the diamond certification program organised by IDL.

Participants also get the chance to view representative pieces from Damas’ vast jewellery collections like Boudoor, Hayati, Romance, Damas Solitaire, and soon Damas Cut, which have all been or will be certified by IDL.

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USA : Zale plans to close 105 stores in fiscal 2008

March 3, 2008

Zale Corporation, a leading specialty retailer of fine jewelry in North America, announced that it has begun the implementation of a program designed to enhance the Company’s profitability and improve its overall effectiveness.

The program, which seeks to generate $65 plus million in ongoing, annualized savings beginning in the Company’s fourth quarter of fiscal 2008, is the product of management’s comprehensive review of operating and capital expenses in consultation with the Board of Directors. Key elements of the program include:

• Estimated $65 plus million in ongoing, annualized savings a majority of which is overhead spending. Approximately $5 million of savings are expected to be realized in the fourth quarter of fiscal 2008;

• Organizational streamlining, primarily involving a reduction of the Company’s headquarters staff by 225 filled and open positions or approximately 20%;

• Anticipated total program cost, including severance-related benefits, of less than $4 million pre-tax, will be incurred largely in the Company’s fiscal third quarter ending April 30, 2008;

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USA : Fashion + Home Cotton Swatch simplifies color palette development

March 3, 2008

Pantone Inc announced the PANTONE FASHION + HOME cotton swatch set, the newest addition to the PANTONE FASHION + HOME SMART Color System line of products. SMART is indicative of the company’s commitment to deliver innovation that is Sensible, Manageable, Accessible, Relevant and Tough, reducing costs and shortening the color development cycle.

The PANTONE FASHION + HOME cotton swatch set, a portable case containing loose-format cotton swatches of all 1,925 colors in the PANTONE FASHION + HOME library, is the ideal tool for designers, manufacturers and retailers involved in palette development. Chromatically arranged by color family and displayed on two removable trays, the set is enclosed in a durable case for convenient storage and protection of the color swatches.

“Changes in today’s marketplace have inspired us to reevaluate, restyle and reconfigure our tools into multiple formats so that our customers can find the tool that best suits their needs,” said Tod Shulman, vice president of the fashion, home and interiors division at Pantone. “The PANTONE FASHION + HOME cotton swatch set offers our customers a new, easy way to create color palettes. It’s a playground for color.”

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