The Graff Diamond Company(previously mentioned), which sells some of the most impressive stones you're ever likely to see in a store you can go into, has postponed it's weird IPO indefinitely. The idea of the IPO was to raise enough cash to open a few stores in Asia, and buy up the private collection of Lawrence Graff, the CEO/President, but that isn't what seems to have spiked the deal. The weak market and the fact that 40% of their revenue comes from 20 customers, that seems to be the problem. So with sales of $700 million last year, their top customers are spending $35,000,000...each.
And here's one of their divers watches for no reason, which seems to be the same reason they got into that market. I don't actually dislike the watch, the subtle gradations of the dial, trying to simulate light falloff in the ocean, are quite nice, but it seems to be entirely disconnected from their market and strength.
(image source)
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