JEWELRY

California Court Blames Sotheby’s For Loss of $4 Million in Diamonds

A federal judge in California has ruled that Sotheby’s may be responsible for the loss of 45 Vivid yellow diamonds worth $4 million, IDEX Online reports.

 

In 2019, M&L Financial, a consulting and brokerage firm based in Dallas, Texas, took the gems to Sotheby’s New York for auction on consignment. They told Sotheby’s that they were the exclusive owners of the diamonds but later, according to papers from the Superior Court of Los Angeles County, the auction house released the gems to another party without telling the company.

 

According to court papers, Jona Rechnitz, owner of Jadelle Jewelry and Diamonds in Beverly Hills, owed M&L “substantial” sums. As security for his debt, he transferred ownership of the diamonds to M&L on the understanding that he could later buy them back at a fixed price. Rechnitz proposed M&L list the diamonds with Sotheby’s. Supposedly, Sotheby’s later released the diamonds to a man who was picking them up on Rechnitz’s behalf. The auction house did not notify M&L. 

 

In its judgment, the California court reversed a judgment by a lower court and found against Sotheby’s. It said it was reversing “the judgment and remand for further proceedings regarding M&L’s breach of contract claim. We award costs to M&L.”

 

Fancy Color
Credit: Moti Israeli Diamonds

Tags: Diamonds News, Jewelry News, Diamond Industry News, Diamond Jewelry News

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BEAUTY

After Collecting Data on Melanin Rich Skin, 4.5.6 Skin Is Ready for Expansion

London-based direct-to-consumer skin care line 4.5.6 Skin has rebranded and is now eyeing a retail expansion thanks to a recent seed financing round and data collection drive.

Founder Noelly Michoux launched the brand in 2020 as a beauty tech start-up dedicated to offering premium and customized skin care for melanin-rich skin after failing to find the right products for her skin.

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“The reason why I started 4.5.6 is that as a dark-skinned woman who grew up in France, it was always super challenging to find products that were made for my skin, for my hair, for my beauty,” said Michoux, who began R&D via incubation with LVMH research centers through the Cosmet’up program.

“I lived in Paris, but to me it was normal to have no inclusivity in the beauty offering because the POC community was not very visible,” she continued. “I lived in London, which is more cosmopolitan, but the offer there was not really different. I ended up living almost for five years in the U.S. and when I moved to New York City, I believed my struggles with beauty were over, because the USA is the most diverse country in the world with a vocal and empowered POC community. And although I found a lot more brands addressing darker skin tones, these were mostly white label formulations, which R&D and testing were based on the skin characteristics of people with skin phototype I, II, III on the Fitzpatrick scale, and skin phototype IV, V and VI were, as my research will show, always left outside of the R&D equation.”

The brand asks customers to go through a skin diagnostic quiz and tell them about their skin phototype based on their skin characteristics, skin concerns, their skin care history, their lifestyle and their location,

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FASHION

Miller Lite Beer And Music Superstar J Balvin Introduce New Streetwear

, Miller Lite Beer And Music Superstar J Balvin Introduce New Streetwear

(J Balvin: Courtesy Miller Lite)

Miller Lite and platinum-selling music superstar J Balvin have created a merch line inspired by the vibe, look, and culture of one of the bodega – those iconic corner stores that sell everything from fresh fruit and bread to Miller Lite.

“For millions of people, a stop at the bodega is part of their daily routine,” said J Balvin. “It’s a space deeply rooted in community, where you always know what you’re looking for but never know what you’re going to get – a place where street style meets convenience. This collection is reflective of that easy but functional vibe.”

Available now on Miller Lite’s e-commerce site, the bodega collection offers everything from t-shirts to shorts, a varsity jacket and even a bucket hat that doubles as a beer bucket.

Miller Lite’s partnership with J Balvin, whose real name is Jose Alvaro Osorio Balvin, is part of the company’s biggest-ever marketing effort targeting Latino drinkers, America’s fastest growing demographic.

, Miller Lite Beer And Music Superstar J Balvin Introduce New Streetwear

(Courtesy Miller Lite)

Over the course of the partnership, J Balvin has taken fans behind the scenes when he’s hanging with friends and just being himself – Jose – for what the brand called Es Jose Time.

, Miller Lite Beer And Music Superstar J Balvin Introduce New Streetwear

“At the end of the day, I’m José, a guy who loves spending time with his close friends, and ‘Es José Time’ shows just that,” said J Balvin.  “I’m proud to be working with a legendary beer like Miller Lite, and I appreciate that they embrace me for who I am.”

The musician starred in several TV spots, and Miller Lite handed over its iconic white pint to J Balvin, whose bright insignia adorned the

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DESIGNER

Princess Charlotte Unexpectedly Twins with Mom Kate Middleton in Adorable Video Appearance

princess charlotte, kate middleton

princess charlotte, kate middleton

Duke and Duchess of Cambridge/Instagram; Adam Davy/PA Images via Getty Princess Charlotte; Kate Middleton

Princess Charlotte and Kate Middleton are popping in polka dots!

Prince William joined his 7-year-old daughter in a social media video shared on Sunday to wish England women’s soccer team luck in the Euro 2020 final match against Germany. Not only did Charlotte’s wish come true — the Lionesses won! — but she also had a twinning moment with her mom Kate.

Princess Charlotte appeared in a navy outfit with white polka dots, reminiscent of the dress that the Duchess of Cambridge recently wore to Wimbledon to watch the men’s final alongside Prince William and Prince George.

RELATED: Kate Middleton’s Chic Summer Style: Sun Hats, Shades and Dresses!

Kate rocked an Alessandra Rich design with the classic pattern paired with her pumps also by the brand for the outing at the prestigious tennis tournament. As patron of the All England Lawn Tennis Club, she accessorized her ensemble with a green and purple bow tie pin.

Polka dots have been a staple of Kate’s wardrobe in recent months. In fact, she wore another dress featuring the pattern to Wimbledon earlier in the tournament. Her light blue and white polka dot belted dress, also by Alessandra Rich, was previously worn by Kate to a Jubilee Big Lunch event in June and was likely a nod to the sustainable theme at the prestigious tennis tournament.

LONDON, ENGLAND - JULY 10: Catherine, Duchess of Cambridge attends The Wimbledon Men's Singles Final at the All England Lawn Tennis and Croquet Club on July 10, 2022 in London, England. (Photo by Karwai Tang/WireImage)

LONDON, ENGLAND – JULY 10: Catherine, Duchess of Cambridge attends The Wimbledon Men’s Singles Final at the All England Lawn Tennis and Croquet Club on July 10, 2022 in London, England. (Photo by Karwai Tang/WireImage)

Karwai Tang/WireImage Kate Middleton

For Royal Ascot in June, Kate went with a white frock featuring brown polka dots, another design by Alessandra

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SHOPPING

Amazon expects summer windfall on higher fees and Prime Day shopping

Amazon.com on Thursday (Jul 28) said it expects a jump in third-quarter revenue, as the retailer collects bigger fees from Prime loyalty subscriptions and as a fuel surcharge on merchants helps it manage high delivery costs.

Shares of the e-commerce company rose 11 per cent in trading after the bell.

Amazon, like much of the retailer industry, is facing a reckoning. Major rival Walmart Inc this week warned it would make much less this year than it once expected. US consumer confidence has tumbled to a recent low, and some are sticking to lower-priced essentials to manage inflation.

That has not stopped Amazon. The online retailer projected net sales between US$125 billion and US$130 billion for the summer period, while analysts were expecting US$126.42 billion, according to IBES data from Refinitiv.

Chief Executive Andy Jassy said in a press release that the company is “seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year.”

A boost is expected from Amazon’s marketing blitz Prime Day, which took place in July. Amazon said it was the biggest rendition of the event by unit sales.

Still, the rosier-than-expected sales outlook comes at a precarious moment for the Seattle-based retailer. A changing of the guard has heralded the departure of Consumer CEO Dave Clark and corporate affairs head Jay Carney, as well as two of the company‘s most senior Black executives. A period of record profit gave way in the first quarter of 2022 to Amazon’s first quarterly loss in seven years.

Ultimately, Amazon lost US$2 billion in the just-ended second quarter, including a pre-taxe valuation loss of US$3.9 billion from its investment in Rivian Automotive Inc. But the company beat

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JEWELRY

Long-lost Elvis Presley jewelry is headed for auction

File video above: Iconic Elvis Presley memorabilia auctioned in 2021From sparkling jumpsuits to diamond-studded rings, Elvis Presley loved all things glittery — as do collectors of his memorabilia. But much of the jewelry famously gifted by the singer to his manager Colonel Tom Parker was long considered lost.Now, decades after the items were last seen, a California auction house has tracked down dozens of the jewels ahead of a major sale.The glitzy gifts given to Parker include an 18-karat gold Corum watch, which features a 130-year-old $20 coin on the dial, as well as a pair of Presley’s custom cufflinks reading “rock” and “roll” on their undersides.Also featured in the auction are items Presley had custom-made for Parker, the man often credited with making him a star. They include a pair of diamond and ruby snowman-shaped cufflinks, which the singer purchased for his manager to commemorate the success of the history-making “Aloha From Hawaii” satellite broadcast in 1973. (According to the auction catalog, Parker was nicknamed the “Snowman” and his bejeweled cufflink snowmen are depicted smoking cigars.)Brigitte Kruse, the founder and CEO of Kruse GWS Auctions, said she spent almost 10 years trying to source Parker’s personal collection and bring it to market.”I was told (in 2014) by a major collector and someone in the business for 30 years that ‘the most important Elvis jewelry collection of all time is out there and up for grabs,'” she told CNN via email.After years of dead ends searching for the “lost” collection, Kruse said learned of a financial dispute that had kept the items out of the public eye for nearly five decades. Eventually, one of the auction house’s clients negotiated a price for the items and purchased them, she said.”It was … a collection that we (had) all ‘heard … Read the rest

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BEAUTY

I’m Convinced Tea Is Giving Me Better, More Resilient Skin

I love tea. Since becoming caffeine curious (and weaning off coffee), I started drinking a lot of tea — iced, Earl Gray, Chamomile, Sleeptime — and other than the obvious downside of teabag waste, I’ve been telling anyone who will listen about the benefits, which for me have included better sleep, calmer mornings (read: less anxiety), and interestingly, more resilient skin.

On the skin benefits specifically, my tea consumption has actually been double-pronged: I’ve been drinking it, yes, but also rubbing a tea-leaf compound on my face. Not a literal teabag, but the new Fresh Beauty Tea Elixir.

Earlier in July, I flew to France to learn about the Fresh’s newest formula innovation that extends beyond its existing Black Tea collection (which is also very good, particularly the firming eye serum). I drove two hours south of Paris to a rural location known as the “cosmetic valley,” a business cluster of different laboratories that produce beauty products, to the LVMH lab where all the Fresh skincare is made.

The exotic Mauritian tea plant

I got an official lab coat and clogs (no open toes allowed) and enter into the sterile room with microscopes. There, I learn about the exotic tea plant that inspired the team of Fresh scientists: This tea plant grows on the island of Mauritius, in the middle of the Indian Ocean, where the soil is volcanic and inhospitable for most vegetation. That’s one resilient tea plant, thought the scientists, and thus began the five-year process of sourcing then microscopically decoding the Mauritian tea plant’s genetic adaptations to see if there could be a human skin-care connection.

Biologist Dr. Anne-Laure Bulteau and her team of Fresh researchers determined that the Mauritian tea plant’s resiliency comes from adaptive phytocompounds, like citrate and polyphenols, which essentially act as

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FASHION

Jules Kounde’s New Streetwear Brand

Jules Kounde has ventured out into fashion with his brand Homies From Paris and has Real Madrid stars Karim Benzema and Aurelien Tchouaméni as ambassadors. 

Let’s check out the drip!

What’s the story?

Barcelona’s Jules Kounde’s fashion venture, Homies From Paris, has Real Madrid stars Karim Benzema and Aurelien Tchouaméni as brand ambassadors. 

Kounde created the streetwear brand alongside French designer Goba Noel and the duo opened a pop-up store during Paris Fashion Week. 

Benzema and Tchouaméni have been pictured rocking the brand’s garments during the off-season. 

Homies From Paris

The brand’s logo is a simple HFP and it appears in most of their clothing consisting of streetwear staples like graphic t-shirts, sweats, crop tops, caps and socks. 

The brand caters to both men and women with comfortable clothing being the HFP’s go-to at the moment. 

Scroll through the gallery to view the ballers rocking HFP

Benzema was pictured in Dubai rocking a crisp-white HFP top, while Tchouaméni was pictured with Kounde during an NBA game in HFP clothing. 

AC Milan shot-stopper Mike Maignan is another baller who’s worn HFP, he attended the brand’s pop-up store launch during fashion week

Have your on Kounde’s streetwear brand…

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DESIGNER

FULL TIME: Riverhounds SC 2, Indy Eleven 0



FINAL: Riverhounds SC (13-6-4, 43 points) 2

Indy Eleven (6-12-4, 22 points) 0

Match Updates from Dan Angell

FULL TIME — PITTSBURGH RIVERHOUNDS 2 (Cicerone 13, 52), INDY ELEVEN 0

90′ +4 Stat of the match: Zero shots on target for Indy Eleven tonight.

90′ +2 — SUBSTITUTION, Pittsburgh: Alexander Dixon comes on for Albert Dikwa. That’s the final change for the Hounds.

90′ +1 — YELLOW CARD, NEVEAL HACKSHAW, INDY: Couldn’t see the reason.

90′ — We will have five minutes of stoppage time.

88′ — NO GOAL, ELEVEN: Stefano Pinho sends a shot off the bottom of the bar that almost bends into the net from the crossbar, but it does not completely cross the line and the Hounds clear. The clean sheet remains.

86′ — YELLOW CARD, DANE KELLY, PITTSBURGH: Kelly breaks free but is a full step offside, and is then shown a card after sending the ball well over the bar in a delay of game.

85′ — Just like it has all night, the Hounds’ back four clears away an Eleven attack before anything can occur. Pittsburgh has been a step ahead throughout.

83′ — SUBSTITUTION, Indy: Former Riverhound and Pitt product Robby Dambrot comes on for Ayoze.

82′ — Elsewhere in the Eastern Conference, Louisville and Tampa Bay are both level in their matches. Pittsburgh would be very happy with both results.

80′ — Other than Juan Tejada, nobody in blue has looked anywhere close to threatening the Hounds’ net. Pittsburgh have been the stronger side, but Eleven have really made this easy on them.

77′ — YELLOW CARD, AYOZE GARCIA, Indy: There, he had no choice: Ayoze drags down a Riverhound to prevent an attack, and a card was required.

76′ — Eric Tattersall continues to let them play unless he

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SHOPPING

The pandemic, online shopping, and the shift towards ‘re-commerce’

shop app
Credit: CC0 Public Domain

We live in a digital age where online shopping is more popular than ever. Sitting in the comfort of one’s home and browsing a seemingly endless amount of goods has certainly made our lives easier. Everything’s merely a click away. What’s not to love about that?

The strict movement control orders (MCOs) imposed by the Malaysian government and the self-imposed social distancing practiced by individuals have pushed consumers further towards online channels of commerce.

If it wasn’t part of your normal before, it is now. A US Census Bureau report found that in the second quarter of 2021, an estimated US $222.5 billion was spent in retail e-commerce sales.

The downside of online shopping

While online shopping has its benefits, there’s no denying the drawbacks. Due to closed borders and the emergence of coronavirus variants, many have halted their travel plans and chosen to instead spend their earnings by shopping.

This group of consumers either spends from their savings or through credit cards. And, since their introduction, “Buy now, pay later'” (BNPL) schemes have been encouraging irresponsible overspending.

A study conducted by the Organisation for Economic Co-operation and Development (OECD) on 26 countries, including Malaysia, shows that financial literacy and knowledge of youths aged 18 to 29 is poor, and they exhibit less prudent financial behavior.

According to the Malaysian Finance Minister, 40 percent of millennials (born between 1981 and 1996) are spending beyond their means. Bank Negara Malaysia reported that 47 percent of Malaysian youths (aged 18-29) have high credit card debts. These debts’ common internal factors include retail therapy, overspending on occasions, and a need to be part of the gang.

During the pandemic, an increasingly stressful life caused people to spend more on themselves. Retail therapy is a mood booster when stressed—the

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