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Jacques Voorhees, Bill Boyajian aim to solve retailer Internet problem with new service

(NEW YORK) - Jacques Voorhees, founder and former CEO of Polygon, and Bill Boyajian, former long-time president of the Gemological Institute of America (GIA), have joined forces to offer a revolutionary online service that addresses one of the biggest problems for jewelry retailers: diamond price shopping on the Internet.

Return fraud to cost retailers $3.7 billion this holiday season, according to NRF

(WASHINGTON, D.C.) – Fine-tuning return policies has become both a science and an art as retailers continue to grapple with roller-coaster return fraud rates. According to NRF’s annual Return Fraud Survey, completed by loss prevention executives at 111 retail companies, the retail industry will lose an estimated $3.68 billion to return fraud in the 2010 holiday season, up from $2.74 billion in 2009. Return fraud cost retailers an estimated $13.95 billion during the 2010 calendar year, up from $9.59 billion in 2009. When asked if their company has ever changed its return policy to specifically address return fraud, nearly two-thirds (65%) said it had.

Israeli Diamond Industry shows impressive recovery in 2010 - Net polished exports rise 48.1%

(RAMAT GAN, Israel) - The Israeli Diamond Industry showed an impressive recovery in 2010, according to figures published by the Israel Ministry of Industry, Trade and Labor’s Diamond Controller Shmuel Mordechai. High double-digit growth in exports and imports of polished and rough diamonds was reported.

Lab Alert: GIA identifies surge in large HPHT-treated diamonds

Reinforces full disclosure of treatments

(CARLSBAD, Calif.) – The Gemological Institute of America (GIA) Laboratory recently reported that a significant number of large high pressure/high temperature (HPHT) treated-color diamonds were submitted for grading. Ranging from 3 ct to nearly 20 ct, the vast majority of these stones were submitted without full disclosure. The color grades ranged from “D” to “J”, but most were “G” or better combined with high clarities.

MJSA benefit partner targets credit card processing fees

Switching to the new company reaps rewards for almost all members

(ATTLEBORO FALLS, Mass.) - Manufacturing Jewelers and Suppliers of America (MJSA), the U.S. trade association for jewelry makers, designers, and related suppliers, has announced a new credit card processing partnership with Integrity Merchant Solutions, which boasts savings for the vast majority of members.

FTC’S Red Flag Rule enforcement in effect

The FTC’s Red Flags Rule, a federal law that requires covered companies to implement an Identity Theft Prevention Program, became fully enforceable on December 31, 2010.  The Rule requires companies that provide branded credit cards or in-house credit accounts for consumers to create a program to detect and prevent identity theft.

A young, new industry professional gives his take on young, new buyers

With only 3 and a half years in the jewelry industry, I can hardly call myself an expert. However, one of the things that I do have experience with is the new buyer. Throughout my travels in the Southeast, I have had such a fulfilling opportunity to talk to a variety of stores. From small trade work shops, to large chain stores with dozens of locations; there is one thing that every store wants: More New Buyers!

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