NEW YORK, February 8, 2017 /PRNewswire/ --
The U.S. Jewelry market is growing at a stable rate in the recent years as the industry enters the mature phase of its life cycle. According to a report published by IBISWorld, the jewelry industry value added (IVA), which is the industry's contribution to the overall economy, is expected to grow at an average annual rate of 0.4% over the 10 years to 2021. The report indicated that the decline in gold prices throughout much of the period is the main factor that drives IVA growth lower than GDP growth, which is expected to be 2.2%. Reign Sapphire Corp. (OTC: RGNP), Charles & Colvard Ltd. (NASDAQ: CTHR), DGSE Companies Inc. (NYSE: DGSE), Birks Group Inc. (NYSE: BGI), Golden Star Resources Ltd. (NYSE: GSS)
The report also indicated that stronger consumer confidence and growing economy continued to drive demand for Jewelry products. A healthy labor market and lower poverty rates also boost the demand of jewelry as consumers with higher income are more likely to afford luxury goods. The report said that the industry will continue to post nominal gains over the five years to 2021. However, further decline of gold prices may offset some industry revenue.
Reign Sapphire Corp. (OTCQB: RGNP) is a fully-reporting, DTC-eligible company, established as a "source to retail" model for fine sapphires - rough sapphires to finished jewelry, a color gemstone brand, and a jewelry brand featuring Australian sapphires.
Yesterday the company announced that it has, "launched the Coordinates Collection Luna Collection at LA hotspot Catch LA. Coordinates Collection, the customizable and handmade Los Angeles jewelry line, recently hosted an intimate dinner at Catch LA to launch its Luna Collection and #MomentsofLife Campaign.
Hosted by Touriya Haoud and Jisun Viljoen, the attendees were introduced to the new Luna Collection and #MomentofLife Campaign. Attendees included Amy Lee of the Zoe Report, Laura Eckstein of Angeleno Magazine, blogger Tania Sarin of T Sarin, Lisa Dengler of Just Another, Sona Gasparian of Simply Sona, Sophie Elkus of Angel Food Style and stylist Isabelle Banham."
CEO of Reign Sapphire Corporation, Joseph Segelman, said, "We are excited to launch the Luna Collection and introduce our #MomentsofLife campaign filmed in New York City and Long Island."
Charles & Colvard Ltd. (NASDAQ: CTHR) manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. The Company's segments are Wholesale, Moissanite.com and Charles & Colvard Direct. The Company sells loose moissanite jewels and finished jewelry at wholesale to distributors, manufacturers and retailers, and at retail to end consumers through its operating subsidiaries. The Company manages its business primarily through its three distribution channels that it uses to sell its product lines, loose jewels and finished jewelry.
DGSE Companies Inc. (NYSE: DGSE) buys and sells jewelry, diamonds, fine watches, rare coins and currency, precious metal bullion products, scrap gold, silver, platinum and palladium, as well as collectibles and other valuables. The Company's operations are organized into approximately two primary types of customers, retail customers and wholesale customers. Its products and services are marketed through approximately eight retail locations. Its retail locations operate under a range of banners, including Charleston Gold & Diamond Exchange, Chicago Gold & Diamond Exchange and Dallas Gold & Silver Exchange, and are supported by their websites. Its Fairchild International division is a dealer of pre-owned fine watches.
Canada-based company, Birks Group Inc. (NYSE: BGI) is engaged in designing, developing, making and retail of jewelry, timepieces and gifts. The Company operates through two segments: Retail and Other. The Company's Retail segment consists of all its retail operations in the United States and Canada on a combined basis. The retail segment operated 27 stores across Canada under the Birks brand, 17 stores in the Southeastern United States under the Mayors brand, a store under the Rolex brand name in Orlando, as well as two retail locations in Calgary and Vancouver under the Brinkhaus brand. The Company's Other segment consists primarily of its e-commerce business, gold exchange business, which purchases gold and other precious metals from clients and refines the metals purchased, and wholesale business.
Golden Star Resources Ltd. (NYSE: GSS) is a gold mining company. Earlier in January the company announced that commercial production has been achieved at its Wassa Underground Gold Mine in Ghana, effective January 1, 2017. The project construction of Wassa Underground, including the installation of all ancillary infrastructure, is essentially complete and operational, in accordance with the Company's planned schedule and budget. Gold production is anticipated to continue to ramp up during 2017 as Golden Star's mining operations begin to access the B Shoot, which is a higher grade area of the Wassa Underground ore body. The Company plans to begin longitudinal stoping of the B Shoot in the first quarter of 2017, with the larger, transverse stopes expected to be accessed in the third quarter of 2017.
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