Pandora HQ buys stake in Aussie arm
The story: Danish company Pandora Holdings A/S will acquire a 60 per cent stake in Australian distributor Pandora Jewelry after nearly five years of incredible growth.
Karin Adcock – who established the Australian agency for Pandora Jewelry in Australia alongside her husband Brook in 2004 – stressed that day-to-day operations would not change as a result of the sale.
“The existing management teams will actually be empowered with additional benefits,” Adcock said.
JWNZ says money “intact”
The story: The Jewellers and Watchmakers of New Zealand (JWNZ) has confirmed that nearly $20,000 raised eight months ago to assist local apprentices will remain in a term deposit and will not be distributed because of the global financial crisis.
In a letter received in response to last month’s story; ‘Kiwis say, “Show me the money”,’ JWNZ executive secretary Craig Anderson wrote, “Due to the present economic climate and interest rates, the JWNZ National Council was unanimous in its decision to keep the funds raised intact.
Placed on term deposit last October the principal and interest received has since been reinvested.”
Anderson denied rumours of misuse but confirmed the money had not been placed in a Trust. JWNZ is yet to clarify if or when the funds will be spent, nor addressed the assertion that it hadn’t submitted its 2008 statutory annual return.
When Jeweller contacted JWNZ President Susi Chinnery-Brown for further clarification, she challenged Jeweller’s right to report on the matter, and hung up the phone.”
Ascot Four (Zamel’s) appeal dismissed
The story: The Federal Court has dismissed an appeal made by Ascot Four, the former owners of the Zamel’s jewellery chain, against 11 charges brought by the Australian Competition and Consumer Commission (ACCC) in December 2006.
According to a release from the ACCC, the Full Court unanimously dismissed the appeal on May 26, 2009 and ordered Ascot Four to pay the ACCC’s costs.
Ascot Four was found to have falsely represented that the purchase of 11 items advertised in the Zamel’s Christmas 2005 catalogue would have resulted in a saving of the difference between the sale price and the strike-through price.
This breached section 75AZC(1)(g) of the Trade Practices Act 1974, which prohibits false or misleading representations being made in relation to the price of goods.
Swatch anger continuesThe story: Swatch has responded to a chorus of criticism from retail jewellers over its “arrogance”, lack of service and sub-standard support. The controversy was sparked when Dennis Coleman from Balwyn Jewellers in Melbourne went public about his dissatisfaction with Swatch in a previous issue of Jeweller.  Shain Forth, of Leon Baker Jewellers in Geraldton, WA, has since revealed he is ceasing to sell Tissot due to problems with repairs, while Scott Godfrey from House of Fraser in Castle Hill, NSW, added: “Their customer service is appalling and the communication is almost non-existent.” Megan Parker, managing director Swatch Australia, defended the organisation, telling Jeweller, “I was disappointed to read the letters published so far... We certainly want to offer exceptional customer service whether it relates to the way that we sell watches through jewellers, or in particular related to the after sale service.” She added, “I would like to say that I hope that moving forward we look after every customer in the best possible way.” |
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