International News
Birks Acquires European Boutique Chain in $6.6M Deal to Expand Luxury Retail Presence
The acquisition also grants Birks operational control over integrated storefronts featuring premium labels such as TAG Heuer, Gucci, and Diamonds Direct. As part of the deal, Birks has signed a licensing agreement to manage the Diamonds Direct brand within Canada.
Birks Group has announced the acquisition of Canadian diamond and luxury watch retailer European Boutique for CAD 9 million (approximately $6.6 million USD). The purchase includes four multi-brand retail stores and three mono-brand boutiques — Omega, Breitling, and Montblanc — located in high-traffic malls across the Greater Toronto Area.
The transaction includes European Boutique’s national e-commerce platform, expanding Birks’ digital footprint.

“This acquisition strengthens our luxury positioning and aligns with our long-term growth strategy,” said Birks CEO Jean-Christophe Bédos. “We’re excited to integrate the European team, including Jordan Sutkiewicz and Michelle Ceresney, into the Birks family.”
To finance the acquisition, Birks secured CAD 13.5 million ($9.9 million USD) from senior lender SLR Credit Solutions and an additional CAD 3.8 million ($2.8 million USD) in working capital from Mangrove Holding, a controlling shareholder. Both loans are due by the end of 2026.
Birks added it remains actively focused on securing further funding and strategic opportunities to drive its expansion across Canada’s luxury retail sector.
International News
Fluorescent Diamonds: GIA to Introduce Clearer Guidance
According to GIA, around 25% to 35% of all diamonds show some level of fluorescence. Greater transparency about this significant segment of the market could help improve confidence among both consumers and the jewellery trade.
Later this year, the Gemological Institute of America (GIA) will introduce new wording in its diamond grading reports to reduce confusion about fluorescent diamonds. The update, expected in the fourth quarter, is one of the most important steps taken by a grading laboratory to explain this feature more clearly to both the jewellery trade and consumers.
Rapaport Intelligence Report explores what this change could mean for the diamond market. Fluorescence has had a long and complicated history. In the past, fluorescent diamonds often sold at premium prices. However, attitudes changed during the diamond boom of the 1970s and again after a grading controversy in South Korea in the early 1990s. Although later gemological research helped improve confidence in fluorescent diamonds, many buyers still view them negatively, and they often sell at discounted prices.
The report also looks at how these discounts have changed over the past six years through both strong and weak market conditions. In addition, the report explains two key questions: how fluorescence affects a diamond’s appearance and whether it influences its color grade. It also considers whether GIA’s new report comments could change how buyers view fluorescent diamonds.
The report revisits a long-debated issue—does fluorescence really affect a diamond’s beauty, or are today’s concerns mainly based on old perceptions that continue to influence buying decisions?
According to GIA, around 25% to 35% of all diamonds show some level of fluorescence. Greater transparency about this significant segment of the market could help improve confidence among both consumers and the jewellery trade.
-
International News3 hours agoFluorescent Diamonds: GIA to Introduce Clearer Guidance
-
GlamBuzz3 hours agoRegal Jewellers appoints Vijay Sethupathi and Simran as brand ambassadors for Tamil Nadu
-
National News3 hours agoIndia’s Consul General to Dubai, Shri V V Reddy, Interacts with BDB Committee
-
National News4 hours agoShankesh Jewellers Ltd. Unveils New Corporate Office at Kalbadevi Road, Mumbai

