L Brands to sell majority stake in Victoria's Secret; CEO to step down
L Brands Inc. said Thursday it will sell a controlling stake in its Victoria's Secret unit to investment firm Sycamore Partners, valuing the lingerie brand at $1.1 billion (¥123 billion), as it focuses on its core Bath & Body Works brand. The private equity firm ...
Burglars nab jewelry worth $64 million from British model Tamara Ecclestone
Tamara Ecclestone, the daughter of former Formula One boss Bernie Ecclestone, has had an estimated £50 million ($64 million) worth of jewelry stolen in an audacious raid from her west London home. A spokesman said the 35-year-old had been left "angry and shaken" after the ...
'Priceless' jewels snatched from German state museum in heist dubbed biggest since WWII
Robbers made off with three priceless diamond sets from a state museum in Dresden on Monday, police and museum directors said, in what German media have described as the biggest art heist since World War II. The thieves at dawn broke into the Green Vault ...
France's LVMH close to $16.3 billion deal to buy Tiffany after sweetening offer: sources
LVMH is close to buying U.S. jewelry chain Tiffany & Co. for about $16.3 billion after sweetening its offer, sources said on Sunday, as the owner of Louis Vuitton and Bulgari aims to tap the fast-growing luxury jewelry market. The two sides are close to ...
An 8,000-year-old pearl that archaeologists say is the world's oldest will be displayed in Abu Dhabi, according to authorities who said Sunday it is proof the objects have been traded since Neolithic times. The natural pearl was found in the floor of a room discovered ...
Largest uncut diamond in recent history found in Botswana mine
Lucara Diamond Corp. has unearthed the largest uncut diamond in recent history in its Karowe mine in Botswana, the Canadian company said on Thursday, beating its own record discovery from November 2015 that it struggled to sell for nearly two years. The 1,758-carat diamond, larger ...
'Good as gold' not good enough: New labels promote ethical metal
Forget how many carats — how ethical is your gold? As high-end consumers demand to know the origin of their treasures, some jewelers are ensuring they use responsibly sourced, eco-friendly or recycled gold. Specialized producers now tack a "fairmined" ecologically friendly label on their output, ...
Longreach Group, the buyout firm founded by former UBS Group AG investment banker Mark Chiba, is considering an initial public offering of its jewelry business Primo Japan Inc., people familiar with the matter said. The owner has been working with Nomura Holdings Inc. to explore ...
Maho Kato: Living life by nature's design
Drawing from nature and past experiences, jewerly maker Maho Kato says don't fear failure to live life to the fullest.
IBM ties up with Asahi Refining and others on blockchain tech to track jewels from mine to store
IBM Corp., a group of four gold and diamond industry companies, and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM's technology, includes precious-metals refiner ...
How an Indian bank's $1.8 billion fraud went unnoticed
The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical center of one of the world's fastest-growing major economies. The branch, clad in a stately colonial edifice, ...
'Most wanted' in Japanese design
The Interior Lifestyle Tokyo trade fair, an annual event held in June at Tokyo Big Sight, always showcases an impressive number of Japanese participants. This year, On Design picks its favorites from the fair's "Wanted" special exhibition of designers looking for collaborators or ...
