End of the week retail news

Apparently you don’t have to be perfect at what you do to get the job done. Three men entered a store in the diamond district in New York and got away with $4 million in jewelry. Three men posing as customers robbed New York City jewelry store Avianne & Co. Sunday after bringing employees into the back room and binding them with zip ties and duct tape.

According to several reports, including one from the Jewelers’ Security Alliance, the three men were buzzed into the Diamond District store. One suspect was wearing a suit and a fedora, a second was wearing a red and black cloth wrapped around his head, and the third was wearing a bucket hat. Suspects one and two were wearing wigs with dreadlocks.

While one robber posed as a shopper interested in a ring the other two took employees to the back and tied and duck taped them. An employee who anonymously spoke to a CBS affiliate said they were very sloppy thieves, and not too coordinated in conducting the heist, as one man shouted get their phones, as another robber said open the cases.

It happened in the middle of the day and was captured in full color on tape. Sloppy or not it was effective. Everything about the heist was worked out more or less except how to get away, they tried hailing a cab but no one would pick them up. So they took off on foot heading east on West 57th street. They are still at large and anyone with any knowledge of their whereabouts are asked to call NYPD at 1-800-577-TIPS.

Avianne $ Co Jewelers

BAILEY BANKS AND BIDDLE

Bailey Banks and Biddle is down to one store and it is located in Town and County Village in Houston. Bailey Banks is frequently described as one of America’s oldest—and most prestigious—jewelers. Founded in 1832, it was purchased by Zale Corp. in 1962. In 2007, Zale sold the chain, which then comprised 70 stores in 31 states, to Finlay. But Finlay liquidated two years later, and that version of Bailey Banks closed with it.

According to the U.S. Patent and Trademark Office, the trademark for Bailey Banks & Biddle is held by Diamond Holdings S.A., a company based in Switzerland. Swiss government records list Nirav Modi as the president of that company.

The company was founded in 1832 as Bailey and Kitchen, and its fabled history includes designing inaugural invitations for President James Buchanan and a silver mug for Abraham Lincoln. Sad to see another prestigious company go down, the stores in Dallas and Plano were closed this year.

Bailey Banks and Biddle

LAGOS BANDS FOR APPLE WATCH

New York City–based jeweler Lagos has debuted a new collection of fine jewelry bracelets made for the Apple Watch. 

The Smart Caviar collection—a tech-ready riff on the brand’s popular metal-beaded Caviar jewelry designs—gussies up the world’s number one smartwatch with 18k yellow gold, stainless steel, and jewelry-grade black ceramic.

Lagos released its very first fine jewelry bracelets for the Apple Watch last year, sterling silver and diamond numbers that ran up to $8,500 in price.

Starting at $595, the new collection is more low-key than its diamond-studded predecessor—and obviously less pricey (though you still have to buy the Apple Watch; Series 4 watches run from $399 to $799).

Some may wonder if investing in the beautification of a smartwatch, which obviously won’t last forever, makes good sense. But then the Apple Watch isn’t going anywhere. Apple shipped 22.5 million Apple Watch units in 2018, according to Strategy Analytics, which is up from 17.7 million in 2017. And of the 45 million total smartwatches that were shipped in 2018, Apple Watches accounted for half. if you are going to wear this watch it might as well look good. And with a Lagos band, it will for sure.

Lagos band on Apple watch

Thank you to JCK magazine for content

Emili Vesilind Editor

Rob Bates News Director