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 It
is often said that timing is everything, and all indicators point to
perfect timing for the development of the World Jewelry Center in Las
Vegas. As you will read in this issue of Insights, more than
40 firms have now signed Letters of Intent (LOI) to become part of this
great endeavor, and the momentum continues to build. Over the past
month our travels have taken us to Mumbai, New York, Tokyo, and Tucson
as we continue to present to industry leaders worldwide. These trips
are extremely valuable for both sharing our vision with the right
people and for signing up more key leaders. The list of who's who to join the WJC is growing continuously, and it is extremely impressive. Among the more prominent firms to recently sign Letters of Intent are Hearts On Fire, Tasaki Shinju, and Shrenuj & Company, Ltd., and we anticipate many more companies to follow. We have also made presentations to the Armenian Jewelers Association in Los Angeles, and we met with the top leadership of several key firms in New York, receiving enthusiastic welcomes at every turn. |
There
has also been enormous interest in the Foreign Trade Zone (FTZ) that
will be within the World Jewelry Center. This is a huge benefit for
firms that have to pay duty on goods imported into the United States. As we move ahead through our design and development of the World Jewelry Center, we want to ensure that we build a complex that meets our clients' needs and even surpasses their expectations. Thus, we ask for your comments as to what would best suit your particular business. In the coming days and weeks, I will see many of you at shows in Hong Kong, New York, Istanbul, and Basel, as we take the message to those important locales and share the vision with more business leaders. I hope you enjoy this issue of World Jewelry Center Insights. Please take note of the 40 plus companies that have already signed on to the vision. It is exciting to see how they span the globe, and represent virtually every industry sector. Thanks again for your interest and support of the World Jewelry Center in Las Vegas, the new global marketplace of the 21st Century. |
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Members of the Armenian Jewelers Association (AJA) applauded the World Jewelry Center as "a great project" and "a visionary concept" at a dinner held February 12 at the Phoenicia Restaurant in the Los Angeles suburb of Glendale. Owners and representatives of 50 gem and jewelry companies attended the dinner, hosted by the WJC and organized by Leon Haytayan, owner of Leon's Fine Jewelry of Beverly Hills and president of the AJA's Western U.S. Chapter. It was the latest in an ongoing series of presentations by World Jewelry Center Managing Director Bill Boyajian, and other WJC representatives, in many locales, including Hong Kong, Japan, Dubai, India, and Israel. "We've been traveling the world to share the vision of the World Jewelry Center, and we haven't forgotten about our many friends in the U.S., either," said Boyajian. "The attendance at this dinner was most encouraging, and several firms immediately requested Letters of Intent to purchase space in the trade tower and to lease retail space." "We really appreciate the AJA's support for the project, and even those who may not opt in to the venture right away, clearly recognized its virtues." Among the more notable members of the AJA who attended the dinner were some who have already signed on to acquire space in the WJC trade tower, including Gagik Gervorkyan, of ESTET, in Moscow, who sees the WJC as a model to begin the introduction of his jewelry into the United States. Others who have signed on as initial participants were the Kejejian cousins of the well-known diamond brand, Tycoon, Inc., and Haytayan, who owns a jewelry manufacturing company in Los Angeles, in addition to Leon's in Beverly Hills. Haytayan remarked, "I believe that it is a great opportunity for a manufacturer, wholesaler, or retailer to have a location within the complex, and to be able to expose their line to all those who will visit the WJC. We look forward to a healthy and prosperous relationship between the AJA and the WJC in the years to come. Many companies showed great interest in meeting with Mr. Bill Boyajian to learn more details about the project." Toros Kejejian, president of Tycoon, Inc., said, "Two big advantages of the World Jewelry Center for Tycoon are its Las Vegas location and the availability of a Foreign Trade Zone." Momentum continues to build for the World Jewelry Center project in Las Vegas, as more and more business leaders embrace the vision. Among the noteworthy firms joining the WJC most recently are the world's most famous branded diamond cut, Hearts On Fire, of Boston, and Tasaki Shinju of Japan, a leading international pearl and diamond company, and a DTC sightholder. |
"It's remarkable and impressive how rapidly we have reached this level of participation," said WJC Managing Director Bill Boyajian. "The momentum in favor of this project has been building steadily, as more and more business leaders embrace the vision of the World Jewelry Center through our worldwide presentations and the increasing industry-wide awareness." When plans for the WJC were announced in late October 2006, 10 companies had committed to participate. The 41 that have signed LOIs to date represent a breadth of sectors in the gem and jewelry industry, including diamonds, colored stones, pearls, jewelry manufacturing, packaging and display, watches, and gem laboratories. "The World Jewelry Center will provide a unique opportunity for companies in this global industry to have a one-stop locale for all of their business needs," said Boyajian. "Overseas firms can establish solid entry into the U.S. market and take advantage of its international business environment-including a Foreign Trade Zone- while U.S. companies can expand their markets both domestically and internationally in a centralized location. The benefits are impressive." Examples of the WJC's diversity include Tasaki Shinju, a vertically integrated Japanese pearl and diamond company and a Diamond Trading Company sightholder; Hearts On Fire, the company that took diamond branding to new heights; Dhamani Jewels, LLC, exclusive distributor of the 99-facet Dubai Cut diamond; Chow Tai Fook Group, Hong Kong's leading jewelry manufacturer and retailer; House of Taylor Jewelry, Inc., with its Elizabeth Taylor and Kathy Ireland branded jewelry; and Alan Friedman Designs, an acclaimed jewelry design and colored diamond company. The firms who have signed LOIs to date are: ESTET Jewelry Company; Kazanjian Bros., Inc.; Robert Wan Tahiti; Lucent Diamonds, Inc.; Super Bell Jewelry Co.; Simplex Diam; Chow Tai Fook Group; Alan Friedman Designs; Tycoon, Inc.; JPI Display, Inc.; American Gem Society (AGS); I Do Diamonds; Giraux Fine Jewelry; International Gemological Institute (IGI); Focus Business Management; GemFind.Net; Diamonds of Russia; MaxMark/Asian Star; Color Masters; Star Rays NY, Inc.; Dhamani Jewels, LLC; Fancy Collection; GemeWizard; Eshed Diam; M. Schnitzer & Co.; Avi Paz Group; House of Taylor Jewelry, Inc.; Tara & Sons, Inc.; C. Mahendra NY, LLC; JEA Jewelry; Bond Street Jewellers; EyeOnJewels Corp.; Shrenuj & Company, Ltd.; Haytayan Jewelers; Prompt Gem Importers; Gary Wasserman; Tasaki Shinju; Hearts On Fire; House of Watches; Vimco Diamond Corporation; and Kiran Exports. Visit website. |
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In an industry replete with creativity and beautiful products, World Jewelry Center planners promise that the retail promenade will stand out as an exciting and completely different experience for shoppers, and a lucrative customer base for retailers. Plans for the three-story retail promenade, which will comprise approximately 60 stores, are being finalized by the award-winning architectural firm of Altoon & Porter. At the same time, the promenade's features and benefits are being explained to the industry through a number of worldwide visits by WJC Managing Director Bill Boyajian, Global Manager of Sales and Marketing Jerry Buckley, and Account Executive Jane Lynch-Rush. They are also detailing policies intended to ensure a variety of quality products from carefully selected firms worldwide, emphasizing high standards of operation and ethics. A WJC committee will review applications for space in the retail promenade. The applicant's business plan, capitalization, management team, and products will be considered before a license is granted for retail space. "We are designing this retail promenade to represent the future of jewelry retailing," said WJC Managing Director Bill Boyajian. "It will be a consumer destination for beautiful, compelling products from countries around the world." Along with the retail stores, consumer shopping will be enhanced by a world-class gem and jewelry museum, restaurants, and food-courts. "We anticipate that businesses will attract shoppers with their own special concepts and designs," said Boyajian. "We want consumers who come to the retail promenade to see the world when they shop there, and for their visits to be unlike any retailing experience anywhere in the world." Among the companies that have already signed Letters of Intent for the retail center are Robert Wan Tahiti; Alan Friedman Designs; Chow Tai Fook Group; and Dhamani Jewels. "These international gem and jewelry stars have distinguished themselves not only through the quality of their products and their impeccable reputations, but also in their innovations and appeal to consumers," said Boyajian. "We're proud that they, and a number of others, have already signed on to be part of this extraordinary enterprise." "We at Dhamani Jewels think that the World Jewelry Center is an ideal place to help us make a global statement about our products in an important consumer market. We look forward to introducing our dazzling 99-facet Dubai Cut diamond and other fine jewelry creations to the exciting U.S. and international market in Las Vegas, especially in the unique ambience of the World Jewelry Center," said Amit Dhamani, Managing Director of Dhamani Jewels. Photo above: An artist's rendering of the World Jewelry Center's retail promenade illustrates its beautiful panoramic views. |
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Economic prospects in Las Vegas are positive overall, as the unemployment rate fell to 4 %, and the city's population growth outpaced that of nearly all U.S. markets. A recent report by the Las Vegas Sun indicated MGM's new CityCenter project alone will employ 8,000 construction workers and create an estimated 12,000 new jobs. According to the Las Vegas Convention and Visitors Authority, more than 37,000 new hotel rooms and over 3.4 million square feet of new convention space are scheduled for completion by 2010. Las Vegas already has more than 133,000 hotel rooms. Some of the major projects under way on the famous Las Vegas strip include MGM's CityCenter, the most expensive commercial private real estate construction project in the U.S.; Palazzo at the Venetian; Boyd Gaming's Echelon Place; and Wynn's Encore. |
We hope that you find World Jewelry Center Insights informative and helpful. If you like what you are reading, please tell a friend about it, or just forward it from your e-mail, with a suggestion to subscribe. It is very easy to subscribe to Insights, just visit our website www.worldjewelrycenter.com. Catch the World Jewelry Center on YouTube The wildly popular video Web site YouTube.com seems to have captured everyone's attention with its endless assortment of film clips, and the World Jewelry Center has not been left out. You can watch an eight-minute video featuring comments by WJC Managing Director Bill Boyajian at the event announcing plans for the WJC last October, by clicking here. Learn More about Union Park, Home of the WJC The redevelopment of downtown Las Vegas has been highly anticipated, and after previous efforts were unsuccessful, the Union Park project championed by Las Vegas Mayor Oscar B. Goodman is being widely hailed as the right development at the right time. Please see WJC in the Press at the end of this newsletter for a link to an excellent summary of this innovative 61-acre urban center that will be home to the WJC and the many companies who will operate a business there. |
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City green-lights tax break for Las Vegas Premium Outlets Downtown's time is now Downtown Las Vegas Gets a lot of Action Vegas Welcomes World Jewelry Center |
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If you would like further information, about the World Jewelry Center please click here or contact: |
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Bill Boyajian Jane Lynch-Rush |
Corporate and Sales Offices: 421 North Beverly Drive, Suite 350 Beverly Hills, California 90210 U.S.A. T: (310) 888 8864 | F: (310) 858 9155 info@worldjewelrycenter.com |
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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. Model's 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. | |
The
Las Vegas retail market remains robust, with overall lease rates
increasing by 12.3 % from December 2005 through the same period in
2006, according to the Center for Business & Economic Research
(CBER) at the University of Nevada, Las Vegas. Vacancy rates remain
tight, at 3.7 %, also according to the CBER, while demand for retail
space remains strong, especially along the main tourism corridor
centered around the strip.