Jewelry Sector Stabilization due to the Stronger Economy and Lower Gold Prices

News provided by

Feb 08, 2017, 08:00 ET

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.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions as we purely incorporate public market research along with financial and corporate news. FinancialBuzz.com only regurgitates financial or corporate news through our unique financial newswire and media platform. FinancialBuzz.com has been compensated three thousand dollars for financial news dissemination and PR services by a third party non affiliate for reign sapphire corporation. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:

Media Contact:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com