jewelry television

Jewelry Television Launches Diamond Selling Website

Filed under: Jewelry

As we've been seeing more and more lately a big part of the future of jewelry is custom designs. It's a bit of a return to tradition and the days when jewelers created personal pieces for clients except that now clients themselves do much of the selecting online. Jewelry Television is moving into a space crowded with BlueNile.com and a host of competitors by launching DiamondDesignGallery.com, a website where consumers can design their own diamond jewelry. Like Blue Nile and others the new website uses a slider system that lets users select stone size, shape, cut and clarity characteristics. The site includes engagement rings, wedding rings, anniversary rings, mother's rings as well as diamond earrings, pendants, and bracelets. The site offers personal engraving and a 100% satisfaction guarantee. It also has articles and resources to guide customers through the jewelry buying process. Check out a video about the new website after the jump.

[via The Israeli Diamond Industry]

Tags: blue nile, diamonds, jewelry television, jewelry websites, jtv

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Gems TV Files For Bankruptcy In Advance of Closure

by Deidre Woollard (RSS feed) —

Filed under: Jewelry

TV channel jewelry seller Gems TV announced it was shutting down its operations last month but has now filed for Chapter 11. In papers filed in a Delaware court the jewelry retailer said that it had been struggling to maintain a sufficient level of profitability to keep operations going and satisfy lenders. The company listed assets in the of $51.2 million with a debt load of $120 million. Much of that debt is with trade creditors, 17 out the company's top 20 unsecured creditors are wholesale suppliers. Gems TV struggled as the price for gold and other raw materials rose while the interest in jewelry waned. Unable to pass on increased costs to consumers, the company found itself in trouble.

There are also a couple of interesting things going on behind the scenes. The parent company of Gems TV has been bidding to acquire a stake in rival jewelry seller Jewelry Television. National Jeweler reports that this deal is unaffected because the Jewelry Television potential deal is with Gems TV's Singapore-based holding company. Gems TV is also facing a $25 million lawsuit from DirecTV which is suing for an alleged breach of an affiliation agreement in relation to Gems TV's decision to stop broadcasting.

Gems TV will no longer be broadcasting after April 15. The company is currently offering discounts of up to 80 percent on jewelry but all sales are final.

Tags: gems tv, gemstv, jewelry retailer, jewelry television