NEW DELHI, India — The $4.5 billion gems and jewelry export industry in India has been experiencing a meltdown over the last few days, leading to an outburst in banking and political circles. This follows a series of investigations set off by government agencies into the companies owned by jeweler and diamond retailer Nirav Modi in relation to an alleged $1.77 billion bank fraud.
Financial transactions by Modi, who has rapidly opened stores worldwide for his brand, and his maternal uncle, Mehul Choksi, chairman of prominent jewelry chain Gitanjali Gems, have unleashed questions around all the bank loans that are a cornerstone of the gems and jewelry industry as a whole.
Cosmetics entrepreneur Charlotte Tilbury came face to face with one of her inspirations when Queen Elizabeth handed her an MBE, or Member of the Most Excellent Order of the British Empire, at Buckingham Palace earlier today. #wwdbeauty
Stella McCartney has been designing wedding looks for years for customers, friends, family — and herself for years.
And now, leveraging the success of the dress she designed for the Duchess of Sussex’s wedding reception in May, McCartney is launching, Made with Love, a bridal line including eight dresses and an ivory tuxedo, reports @natalietheodosi . “I feel very protective over the bride, because I know what it was like when I got married, and for me to do my own wedding dress. There are moments that are so personal and private, so emotional and loaded with many different issues,” McCartney told WWD in an interview in June. “I think we are really blessed to have the emotional trust with a woman. She’ll come in and feel the love that we put into everything. What she chooses can be conventional or unconventional. It’s a personal experience.” #wwdnews