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| Volume 1, Issue 10, October 16, 2007 | |
| A Message from Bill Boyajian | |
 Slightly less than one year ago,
the World Jewelry Center project was formally launched at a festive
event in Las Vegas. The attendees included officials of the first 10
companies to sign Letters of Intent (LOI), along with Las Vegas Mayor
Oscar B. Goodman, guests and news media, and Robert Zarnegin, President
and CEO of Probity International Corporation, and the mastermind behind
the World Jewelry Center. Robert is the visionary business leader and developer who foresaw the need of an international marketplace for gems and jewelry, and Las Vegas as the perfect location. It did not take long for the industry to begin talking about this new phenomenon, and jewelry business leaders in every corner of the world soon realized that this was a unique, breatkthrough opportunity. Along with the World Jewelry Center sales team, I have visited hundreds of these leaders at trade shows and special presentations worldwide over the past 12 months. Their interest and enthusiasm for this historic project has been impressive and inspiring. But the most important reaction of all is the constant flow of signed Letters of Intent that began building late last year, and has continued throughout 2007. The firms who have signed on represent a "who's who" of the international gem and jewelry industry. I invite you to see them for yourself by clicking here. Just a few days ago, we reached a very important milestone when we received our 100th signed LOI. It was from Supergems Jewellery, a division of DTC sightholder Supergems, a major vertically integrated diamond and jewelry company. Please see the related article in this issue of Insights. We have also recently received formal approval from the U.S. Department of Commerce Foreign Trade Zones Board for the World Jewelry Center to be designated as a Foreign Trade Zone (FTZ). The importance of this designation cannot be overemphasized. Deferral of U.S. Customs fees is one of the main benefits of functioning in a Foreign Trade Zone. Please see the related article in this issue of Insights. We are now less than one year from groundbreaking, and the WJC development team is working hard to ensure that every detail and amenity is included in this ultra-modern complex to provide the maximum accommodation and advantage to our participating firms. There is strong continuing momentum and a palpable excitement building throughout the industry for this project. If you have already thought about the many advantages the WJC offers for your business, please join the dozens of other industry leaders, and reserve your space now. Or, if you want more information, or to schedule a personal presentation, please e-mail info@worldjewelrycenter.com, or call 310-888-8864. I will also be making formal presentations in Los Angeles, on October 16, and in New York, on November 6 (To RSVP please e-mail tcostello@worldjewelrycenter.com). I look forward to seeing you at one of those occasions, or at an upcoming trade show or conference. |
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| U. S. Commerce Department Approves World Jewelry Center as Foreign Trade Zone Site | World Jewelry Center Appoints Robin Bartolo as Account Executive |
| The
United States Department of Commerce's Foreign Trade Zones Board has
approved the World Jewelry Center as a permanent Foreign Trade Zone
(FTZ). It is designated as Site 7 and will be operated by the Nevada
International Trade Corporation (NITCO) on behalf of the WJC, within
the 61-acre master-planned community of Union Park. The announcement was made jointly by Somer Hollingsworth, President and CEO of the Nevada Development Authority, Grantee of FTZ # 89, and NITCO President and CEO JoAnne Tornberg. She said the FTZ designation includes general-purpose zone warehousing and exhibition services. Explaining the basic functions of the FTZ, Tornberg said, "Merchandise entering a Foreign Trade Zone may be assembled, cleaned, destroyed, displayed, mixed, manipulated, manufactured (with permit), processed, re-labeled, repackaged, repaired, salvaged, sampled, stored, tested, re-exported, or distributed (domestic, international, zone-to-zone)." "All functions can be performed within highly secure U.S. Customs-approved facilities," Tornberg added. "We have been counting on approval of the FTZ, and we really appreciate the efforts of JoAnne Tornberg and Las Vegas Mayor Oscar Goodman, Scott Adams, of the Las Vegas Office of Business Development, and their staffs," said WJC Managing Director Bill Boyajian. "The FTZ designation creates many important cost-savings advantages for our participating firms, such as duty deferral, paperwork reduction, and the elimination of duty on goods exported from the United States. FTZ designation also reduces the global supply chain timeline to import and export, the FTZ processing/manufacturing authority (approval required) may allow lower duty rates, and NAFTA qualifying goods are duty free to Canada and Mexico." Boyajian continued, "We are happy to provide all the details on how businesses operating in the World Jewelry Center will directly benefit from being in an FTZ. And we have our own expert FTZ consultant, Tommy Berry, who will assist with individual questions and private consultations with our clients." |
 The World Jewelry Center has appointed Robin Bartolo as an Account Executive for the firm. Bartolo joins the WJC after two years with the Gemological Institute of America (GIA), where he was Director of Sales and Marketing for GIA Instruments. His responsibilities included expanding global sales and introducing new products to the trade. "We are really pleased to have Robin as part of our global sales team," said WJC Managing Director Bill Boyajian. "Robin has a lot of experience working with manufacturers worldwide. He has a great reputation for technical expertise and professionalism, and he understands the needs of the industry." "I am thrilled to join the World Jewelry Center project at this exciting time, said Bartolo. "The WJC will offer a truly unique blend of services, benefits, and opportunities to the global jewelry industry." "The recent approval and classification of the World Jewelry Center as an official Foreign Trade Zone further enhances the desirability of doing business in Las Vegas. Once completed, the worldwide variety of jewelry and designs offered at the World Jewelry Center will be unparalleled and will attract consumers from every corner to this premier jewelry destination." Before working at GIA, Bartolo was Global Sales Manager for KerrLab in Orange, Calif. from 2000 to 2005. He managed all international sales and marketing for the jewelry division and provided dealer support. Bartolo is a graduate of Southern Illinois University, where he earned a B.S. degree, with honors, in Technical Careers, focusing on business management. |
Photo caption: The World Jewelry Center has been approved as a permanent Foreign Trade Zone by the U.S. Department of Commerce's Foreign Trade Zones Board. |
Photo caption: Robin Bartolo has been appointed as an Account Executive for the World Jewelry Center (Photo courtesy of Robin Bartolo.) |
| JEA Jewelry Owner Sees WJC as Perfect Destination for Jewelry Designers | |
 The
World Jewelry Center will be a centralized marketplace for the global
gem and jewelry industry, and Jeffrey Appling, an award-winning
designer and owner of JEA Jewelry, thinks it will also be the perfect
destination for designers like him. "I cannot express strongly enough the importance of having a one-stop location like the World Jewelry Center, where all professional designers can meet, a place where everything a designer needs can be obtained without traveling, shipping, or other delays," said Appling. He recently signed a Letter of Intent to purchase space in the World Jewelry Center for JEA Jewelry. "I believe that ten years from now there will be jewelry business owners complaining that they should have taken part in the WJC when they had a chance," Appling added. "There will always be people that look back and mention they should have done this or that. Leaders who look at the big picture come out strong."  He
intends to create a single destination that encompasses designers from
around the world. "Instead of having just one large brand of a
commercial product, we will provide a creative selection that best
represents individual tastes and lifestyles of those who will buy the
jewelry," he said. Appling also plans to develop a "bigger-than-life format" design and aesthetics for his WJC location that he says will validate a luxury jewelry concept. "By keeping a high standard, I think the competition will follow suit, thus creating a one-stop luxury level couture jewelry experience unlike anywhere else."  Appling
is a Graduate Gemologist and Graduate Jeweler, and he has worked in the
industry as an educator, gem cutter, appraiser, and art historian, in
addition to jewelry designing. He started JEA Jewelry in1994 in
Salinas, Calif. and moved the business to Palm Springs in 2004. "Jeffrey is well-known for his bold, innovative designs in a wide range of jewelry styles," said WJC Managing Director Bill Boyajian, "and his numerous awards from various organizations attest to his remarkable creativity. He is truly an elite designer, and we are very proud that he has signed on with the World Jewelry Center." |
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Photo caption: (Top photo) JEA Jewelry Owner and designer Jeffrey Appling and his mother, Jayleen Appling, met WJC Managing Director Bill Boyajian at the West Coast Jewelry Show on September 9. (Photo by Jayne Schultz.) (Middle photo) This "Evolution" necklace features a new concept, in which the back of the 30.37-ct. hexagonal center citrine has been drilled out and individually injected with gemstone rods-coral, lapis, and malachite - which reflect light to create a kaleidoscopic effect. The citrine is bordered by bead-set chevron plates of diamonds suspended from prongs, and the surrounding radiating tapered tubes are capped off with bright natural gemstones, including tsavorite garnet, spessartite garnet, and iolite. This pendant/necklace won second place (tied) in the 2007 Jewelry Arts Awards contest. (Bottom photo) This "Hands to Water" ring won first place in the 2006 gold/platinum Saul Bell Design Award contest sponsored by Rio Grande. It includes a center hand-carved and polished flawless aquamarine (23.80 ct.), color-enhanced blue diamonds (.67 ct.), and near-colorless diamonds (1.29 cts.). |
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| World Jewelry Center Records 100 Participating Firms | First Three Phases of World Market Center Leased; July Visitor Traffic Sets Record; Dubai World Invests Again |
 Two
weeks before marking one year since its formal launch, the World
Jewelry Center has recorded its 100th signed Letter of Intent to
purchase office space in the new international marketplace for gems and
jewelry. Supergems Jewellery, a division of DTC sightholder Supergems,
was the 100th company to join the growing list of leading industry
firms. "This is clearly a major milestone in the development of this
historic project," said World Jewelry Center Managing Director Bill
Boyajian. "At the same time," he added, "the real significance of this
achievement is in the project's widespread global support with
representation from virtually every sector of the industry. The
momentum is strong across the board in just the beginning stages of the
development." Boyajian continued, "The recent approval of the WJC as a Foreign Trade Zone is another significant achievement, and this is an especially important incentive for both domestic and international companies. I am hearing this directly from industry leaders. The deferral of U.S. Customs fees for goods entering our FTZ creates money-savings opportunities, and numerous business-to-business options. There are myriad advantages of operating in a Foreign Trade Zone. Coupled with the tax breaks in the state of Nevada, we have a powerful combination of incentives too attractive to ignore." The 100 firms signed on thus far represent 17 countries and four continents, and nearly a third (210,000 square feet) of the available space in the 52-story office tower. About half (37,000 square feet) of the space in the retail center has already been reserved. Groundbreaking is planned for September 2008, with project completion anticipated in mid-2011. |
According
to a report published by GlobeSt.com ("2M-SF, 16-Story WMC Building
Tops Out, Brian K. Miller, Sept. 10) the World Market Center has now
virtually leased all of its available space in the three buildings that
are either complete, or will be finished in 2008, totaling 5 million
square feet. The World Market Center (WMC), located across from Union Park, home of the World Jewelry Center, is a combination showroom and convention center for the home and hospitality contract furnishings industry, including furniture, decorative accessories, lighting, area rugs, wall décor, home office, floral, bedding, and textiles. The same article states, "Developer Robert Zarnegin of Beverly Hills, CA is moving forward with plans for a one-million-square foot complex on 5.4 acres that would include a 50-plus story trade tower that would house corporate jewelry and gem offices below luxury condos and, next to it, a three-level public space filled with retail jewelry shops, a museum and a café." July Las Vegas Hotel Occupancy Sets Record Hotel occupancy in Las Vegas was 92 percent in July, a record for that month, according to the Las Vegas Convention and Visitors Authority. The near-capacity fill resulted from the 3.4 million visitors to southern Nevada during the month. Dubai World Invests in Las Vegas Again Dubai World has made a second investment with MGM Mirage, according to a report in the Las Vegas Review-Journal. After investing $2.7 billion in August for a 50 percent stake in CityCenter, a $7.4 billion mixed-use project under construction on 76 acres on the center Strip, Dubai World has most recently "entered a definitive agreement for a joint venture to develop 40 acres on the southwest corner of the Strip and Sahara," according to the Review-Journal article. |
Photo caption: The World Jewelry Center has recorded its 100th signed Letter of Intent. |
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Vegas Retail on a Roll Deal with sky high potential: Analysts see possibilities in land acquired with tower Charlie Palmer hotel-condo planned for Union Park City green-lights tax break for Las Vegas Premium Outlets |
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| If you would like further information, about the World Jewelry Center please click here or contact: | |
Bill Boyajian Jerry Buckley Jane Lynch-Rush Robin Bartolo |
Corporate and Sales Offices: |
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| The World Jewelry CenterSM is owned and developed by Heritage Nevada VIII, LLC, a single purpose entity. Heritage Nevada VIII, LLC reserves the right to change concepts, prices, features, amenities, and dimensions at its sole discretion and without notice. Models do not reflect racial preference. You have received this email because you chose to receive email and other communications from us. This email is commercial in nature and may contain advertising materials for the World Jewelry Center. We adhere to all state and federal anti-spam laws. To unsubscribe, please click on the link below. Contact Info: World Jewelry Center, 421 North Beverly Drive, Suite 350, Beverly Hills, CA 90210. Feel free to review our TERMS OF USE and PRIVACY POLICY. © World Jewelry Center 2007. | |