Olivier Perruchot, director general of Piaget in France since 2001, has taken over the brand’s management in the United Kingdom. Furthermore, Piaget has announced the opening of a boutique in London in September.

Gold prices smashed their way to a new record peak above 1,245 dollars an ounce, with demand propelled by investors seeking shelter from the eurozone debt crisis, analysts said.

The price of gold jumped within grasp of a new record high, as investors sought a safe-haven investment amid ongoing concerns about the eurozone debt crisis.

Italian luxury jeweller Bulgari was cautiously optimistic about its financial outlook after a rebound in sales helped the company sharply cut its first-quarter losses.

Huge diamonds and gems with royal cachet are expected to fetch strong prices next week as buyers chase unique pieces in a revived international jewelry market, rival auction houses said.

UAE Jeweller Damas International said it was taking longer to recover the $55 million owed by its founders, the Abdulla brothers, due by April 30, but the delay does not mean a default.

De Beers, the world's biggest diamond producer, said it could cut around 40 percent of its workforce at one of its mines due to weak prices for the gems and the stronger rand.

The owners of diamond group De Beers, including miner Anglo American Plc, are mulling a possible re-listing for the firm but feel the time is not yet right, sources close to the situation said.

Rajesh Exports Ltd, one of India's top jewellery makers and exporters, plans to open 300 retail stores in India over the next three years, and has lined up a capex of 30-40 billion rupees, a top official said.

Revived luxury firm Faberge will release a new collection of more conventional jewellery after some customers who saw its initial mosaic-style artistic pieces worth up to $7 million asked for bigger gems.

India's gem and jewellery exports rose 16 percent in 2009/10 compared to the same period a year ago, driven by increased sales of cut and polished diamonds.

Signet Jewelers Ltd would have to buy another retailer to build a second U.S. jewelry store chain, the company's chief executive said.

Gold investment demand in 2009 surpassed jewellery buying for the first time since 1980, boosted by strong inflows from investors looking to preserve their wealth, metals consultancy GFMS said.

The world's top diamond producer De Beers expects India to maintain its double digit growth in demand and hopes to globally raise production by about a quarter on the back of better outlook, a top official said.

Shares of Shree Ganesh Jewellery House Ltd listed at 258.85 rupees on the BSE, about 0.44 percent lower than its issue price of 260 rupees, but soon fell over 34 percent.