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| April 22, 2008: Volume 2, Issue 4 |
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World Jewelry Center Company Profile: The Cleo Collection VIP Dinner, Reception, Presentation Highlight Baselworld for World Jewelry Center News from WJC Participating Firms
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A Message From Bill Boyajian
It is quite heartening to see the increasing interest from leaders in all sectors of the industry, as well as the growth and development of the project itself. We are receiving a steady stream of signed Letters of Intent (LOI) every week, now numbering 122, and there are many more that are waiting to be signed. Robert Zarnegin, developer of the WJC and President and CEO of Probity International Corporation, has assembled a highly experienced team of property development and real estate experts to ensure the WJC is indeed world-class, down to the very last detail. As many of you already know, his accomplishments include such renowned properties as The Peninsula Beverly Hills, The Wilshire, and 660 Madison (New York), and he has set the same high standards for the World Jewelry Center. Now that all the required permits are in place, we have begun to plot the actual spaces to be occupied in the trade tower. Naturally, those who have already signed Letters of Intent are receiving the first options for locations, both by floor, and in placement near specific firms or industry sectors. This is another major benefit of signing on early, along with locking in the early discount price. Over half of the leasable space in the Retail Center has also been reserved through LOIs, and we are at work shaping this into a jewelry consumer destination that will have an exciting mix of companies and products from around the world. There will be a hand-selected variety of both existing and newer brands that will excite and educate consumers, providing a memorable and intriguing shopping experience. There will also be a museum/exhibit area that will draw even more attention through unique gem and jewelry displays on a regular basis. We have also received a lot more interest in the ultra-luxury residential condominiums, which will occupy the top ten floors of the tower. As you can see in an article in this issue of WJC Insights, the market for luxury high-rise condominiums in Las Vegas has remained strong, but the ones in the World Jewelry Center will be especially prestigious and rare. They are being designed by the noted firm of Dianna Wong Architecture & Design, Inc., and their furnishings, amenities, and services will be second to none. As more and more industry leaders are realizing, the World Jewelry Center will be one of the most important gem and jewelry marketplaces on the globe. It will be in one of the world’s most exciting cities for business, dining and entertainment. As a leader in the industry, you really need to be there.
World Jewelry Center Company Profile: The Cleo Collection
Commenting on her decision to join the World Jewelry Center, founder and designer Irene Cleofas said, "The first time I saw the advertisement for the World Jewelry Center I caught the vision immediately." She said she later heard World Jewelry Center Managing Director Bill Boyajian speak in Vicenza, Italy, and his first words were, "You must catch the vision." Vision is a key word that resonates with Cleofas, whose ring concept resulted from what she calls a "divinely inspired" vision in 2002. She remembers sitting in her office, looking up, and clearly seeing a vision of the ring. She said that vision has motivated her through every step of developing the "Truly Embraced" ring and introducing it to major markets.
Because the bridal line has been so well received around the world, Cleofas said she believes that being part of the World Jewelry Center is a natural teaming of two exciting entities. "We're both fresh and on the cutting edge," she said. "Seeing the plans and architectural designs for the World Jewelry Center's high-tech tower and retail center brings back memories of a time when fine jewelry was romantic and considered art," she said. "The World Jewelry Center is the perfect venue for reaching jewelry lovers from all over the world who are looking for the latest and most exciting designs. This works for us." Cleofas said she also sees Las Vegas as the perfect location for an international gem and jewelry marketplace, since it already has a daily flow of new clientele. "It has become a hub for many conferences from around the world, as well as a family vacation destination." The Cleo Collection is planning many jewelry lines that will continue to "wow" the jewelry collector, Cleofas said joyfully. "We want them to keep coming back to see what we're up to, not just in our expanding ring lines, but also in other uniquely made jewelry. There is no limit with our innovation." World Jewelry Center Managing Director Bill Boyajian said, "Irene Cleofas perfectly exemplifies the great enthusiasm and innovation of the leaders of our participating firms. Through her ingenious products and strong adoption of the vision of the World Jewelry Center, the Cleo Collection is surely headed for success as part of our rapidly growing family of global companies." For more details and company contact information, please visit www.cleocollection.com
VIP Dinner, Reception, Presentation Highlight Baselworld for World Jewelry Center
The Reception and Presentation, held at the Swissötel near the show’s main exhibit halls, played host to a standing-room-only crowd. The WJC operated two stands during Baselworld, one in the entrance area of Hall 2 – one of the busiest of all the exhibit halls – and the other in Hall 3.
"The mood throughout the show was upbeat, and the continuing interest in the World Jewelry Center resulted in a number of new signed Letters of Intent, with many more to follow." Click here to view a photo gallery from the Basel VIP Dinner.
News from WJC Participating FirmsIDCA Selects Bidz.com "e-tailer of the Year" Bidz.com, a World Jewelry Center participating company, has been selected as 2007 "e-tailer of the Year" by the Indian Diamond and Colored Stone Association (IDCA), for excelling in sales of Indian diamonds, gemstones, and jewelry. CEO David Zinberg said, "It is an honor for us to have been selected to receive this award and to be included among other outstanding IDCA award recipients, such as 'Retailer of the Year' award winner, Wal-Mart." The IDCA is a nonprofit organization, incorporated in New York. The IDCA was formed with 65 companies for the sole purpose of providing information to the gem, diamonds and jewelry community to help them further their business interests in the U.S. [Source: Bidz.com]
ICA Selects Panyu, China for 2009 Congress The International Colored Gemstone Association (ICA), a WJC participating organization, announced that its 2009 Congress will be held May 5 – 9, in Panyu, China. ICA said the decision to hold the next Congress in China illustrates the area's increasing importance in the international gem and jewelry industry. According to the ICA announcement, the jewelry industry in the Panyu area has grown in recent years to include nearly 400 enterprises employing more than 70,000 workers. In 2007 the total value of domestic export was $1.32 billion. In the coming years Panyu intends to intensify efforts to promote its jewelry industry, focusing especially on colored gemstones, said the ICA announcement. [Source: ICA]
Las Vegas News of InterestSales, Resales Strong for Las Vegas Luxury High-Rise Condominiums Sales and resales of luxury high-rise condominiums in Las Vegas and Southern Nevada remained strong in the first quarter of 2008, according to the Restrepo Consulting Group, a Las Vegas – based real-estate research company (as reported in the Las Vegas Business Press and Las Vegas Review-Journal). The average sales price for luxury high-rise condos in January was $792.00 per square foot, and the most expensive ones were in the new MGM Mirage City Center, at $1,492 per square foot. Five more of the luxury residences were sold in the first quarter of 2008 than in the first quarter of 2007. The median resale price was up nearly 30 percent, from $737,000 in the previous quarter to $955,000 for the first quarter 2008. John Restrepo, principal of the Restrepo Consulting Group, said the Las Vegas resort corridor had about two thirds of all the luxury condominiums, but development of the luxury units is increasing in the suburbs. [Sources: Las Vegas Business Press, Mar. 19; Las Vegas Review-Journal, Apr. 14]
New Trump International Condominium-Hotel Opens The newly opened 64-story Trump International condominium-hotel features no smoking and no casino. Located on Fashion Show Drive, across from the popular Fashion Show Mall, near the Las Vegas Strip, Trump International has 1,282 suites, with about 95 percent to be privately owned. There are 880 studio apartments, starting at $700,000; with 352 one-bedroom suites, at $1.8 million; and 50 penthouse suites (from one to three bedrooms) starting at $2.2 million. Units range from 515 to 3,500 square feet. Rooms are designed by Design 360 Ultd., and each will have top-quality business and entertainment technology, including flat-screen televisions, European-style kitchens with wood cabinets, custom vanities, in-mirror television screens, marble countertops, master-bath spa tubs and custom-made sleep-system beds with 500-thread-count Bellino Italian sheets. [Source:In Business Las Vegas, March 28 – April 3, 2008] |
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UNION PARK - 2007 YEAR IN REVIEW VEGAS RETAIL ON A ROLL DEAL WITH SKY HIGH POTENTIAL: ANALYSTS SEE POSSIBILITIES IN LAND ACQUIRED WITH TOWER |
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If you would like further information about the World Jewelry Center please visit us at WORLDJEWELRYCENTER.COM or contact: |
Bill Boyajian Jerry Buckley Newsletter and Media Inquiries |
Jane Lynch-Rush Robin Bartolo General Inquiries |
In the previous edition of World Jewelry Center Insights, I provided a quarterly report on our substantial progress. Now I want to supplement that report with an update about other important aspects of the project that I think will be of particular interest to both our participating firms and those who are considering signing on as we move ahead. 
The Cleo Collection, Jewelry Divinely Inspired, is a participating firm in the World Jewelry Center and inventor of the "Truly Embraced" ring. It features an outer-hinged ring that seamlessly embraces an inner ring to create one integrated design, which the company refers to as two rings "Coming Together as One." (See photo.) 
Cleofas said the Cleo Collection's patented creation has been applied initially to bridal designs, but the company plans to expand it to colored gemstone combinations, right-hand ring day wear, and evening wear, along with a men's engagement/wedding ring line.
A VIP Dinner one evening and a Reception and Presentation the next night highlighted World Jewelry Center events during the 2008 Baselworld Watch and Jewelery Show. 
The capacity attendance on both occasions included many jewelry industry leaders, along with executives of WJC participating firms. Schloss Bottmingen, the famous 14th-century moated castle that is one of Basel’s landmarks, was the site of the VIP dinner. 
"With awareness of the World Jewelry Center so widespread throughout the industry, we saw lots of familiar faces, as well as many new ones at our booths and our special events," said WJC Managing Director Bill Boyajian.
