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Rapaport Weekly Market Comment
High expectations for next week’s Hong Kong show as dealers maintainfirm prices for RapSpec A2+ diamonds, and jewelry sales improve during ChineseNew Year. Indian market cautious, with banks expected to tighten lending amid$1.8B fraud claim against Nirav Modi and Gitanjali. Rough trading...
Polished Markets Feb 22, 2018 Rapaport News
India Arch
Rapaport Weekly Indian Market Report
Cautious mood following major bank fraud claim against Nirav Modi andGitanjali Gems. Domestic demand relatively weak at recent IIJS Signature show.Diamond dealers focused on US and China. Manufacturers raising production, withshift from smaller...
Research Feb 22, 2018 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Indian jewelry shares fell as fraud allegations againstGitanjali Gems (-44%) and Nirav Modi dampened investor sentiment, with AsianStar (-14%) and PC Jeweller (-7.1%) both down. Lucara Diamond (-9.1%) and PetraDiamonds (-8%) trailed...
Financial-Legal Feb 22, 2018 Rapaport News
De Beers Earnings Fall 150
De Beers Production to Peak in 2018
De Beers expects its production to hit a high point in 2018 as anumber of its mines approach the end of their life span, CEO BruceCleaver told Rapaport News. The company expects production of 34 million to 36million carats in 2018,...
Mining Feb 22, 2018 Joshua Freedman
Rapaport Research Report: India in Focus 150
Rapaport Research Report: India in Focus
India holds a dominant position in the diamond industry, coming closer than any other market to spanning the entire pipeline. Besides its extensive rough and polished trade, it has made a name for itself in jewelry-making,...
Polished Markets Feb 22, 2018 Avi Krawitz
DDC Names New Leaders 150
Reuven Kaufman to Head New DDC Board
Reuven Kaufman has been reelected as president of theDiamond Dealers Club (DDC) of New York, a position he has held since 2011, thediamond exchange said Wednesday. Reelected officers joining Kaufman (pictured) areIsrael Ashkenazy, as vice president,...
Rough Markets Feb 22, 2018 Rapaport News
India Bank Allegations Widen 022118 150
Investigation into $1.8B Jewelry Fraud Intensifies
Indian authorities have reportedly arrested five senior executivesat Nirav Modi Group and Gitanjali Gems as investigations continue into amassive fraud case involving the two companies.Punjab National Bank (PNB) has alleged the...
Financial-Legal Feb 21, 2018 Joshua Freedman
WJA Reveals Visionary Awards Honorees 150
WJA Honors Women Who Drive Equality
The Women’s Jewelry Association (WJA) has announced thehonorees for its Visionary Awards, the newest category in its Awards forExcellence. The awards, which will take place in New York in July,recognize those aimed at advancing...
Polished Markets Feb 21, 2018 Rapaport News
Swiss Watch Exports Surge in Asian Markets 150
Swiss Watch Exports Surge in Asian Markets
Swiss watch exports grew in January, driven by higher Asian demand, the Federation of the Swiss Watch Industry reported. Exports increased 13% year on year to $1.73 billion (CHF 1.62billion) in January. Shipments to Hong Kong climbed...
Retail Feb 21, 2018 Rapaport News
New Diamond Bourse Set for Surat 150
New Diamond Bourse in the Works for Surat
Construction is under way to develop a diamond bourse in Surat that will house more than 4,400 diamond merchants. The complex is scheduled to be completed in 2020, and to be fullyoperational by the following year, spokespeople for the project told...
Rough Markets Feb 21, 2018 Rapaport News
Lesedi La Rona Sotheby's
Lack of Large Diamonds Dents Lucara Sales
Lucara Diamond Corp’s revenue and profit fell in 2017, assales of exceptional diamonds and overall production at its Karowe mine slumpedduring the year. Revenue for 2017 dropped 25% to $220.8 million, with thevolume of goods...
Mining Feb 21, 2018 Rapaport News
memo 150
Comment: Making the Most of Memos
Effective inventory management is vital in the challengingbusiness environment the jewelry industry is experiencing lately. Insufficientinventory can lead to lost sales; excess inventory ties up capital and incursfinance charges when merchandise is acquired with loans. For...
Polished Markets Feb 21, 2018 Robert A. Hoberman
Digital Transformation of Jewelry Trade Dominates
Jewelers Focus on Digital at Inhorgenta
The digital transformation of the jewelry businesswas a major theme at Inhorgenta Munich, with jewelers speaking of the need toadapt to increased online retail sales. “One of the key challengesfaced by the industry is to win younger target groups...
Retail Feb 20, 2018 David Brough
GJEPC to Build Jewelry Park in Mumbai 150
Mumbai to Get New Jewelry Complex
The Gem & Jewellery Export Promotion Council (GJEPC) isplanning to build India’s largest jewelry park over the next few years. The council signed a memorandum of understanding with the Maharashtra Industrial Development Corporation...
Retail Feb 20, 2018 Rapaport News
Stargems to Host Dubai Rough Tenders 150
Stargems to Hold Dubai Rough Tenders
Stargems will host a series of rough-diamond tenders in Dubai this year, enabling miners, suppliers and other companies to buy and sell goods.The sourcing-and-supply company has formed a partnership with the Dubai DiamondExchange (DDE) to stage...
Rough Markets Feb 19, 2018 Rapaport News
Sarine Files India Lawsuit 150
Sarine Sues Rose Gems for Alleged Fraud
Sarine Technologies has filed a lawsuit against Indianmanufacturer Rose Gems, alleging breach of contract and fraud, thediamond-technology company said Sunday. The suit, which also alleges copyright infringement, relatesto activities Sarine initially reported...
Financial-Legal Feb 19, 2018 Leah Meirovich
Petra Diamonds CEO Johan Dippenaar holding 122.52
Petra Diamonds Posts Heavy Loss
Petra Diamonds slumped to a significant loss in the first fiscalhalf as the South African rand strengthened against the dollar, reducing the value of two mines the company operates in the country. The net loss came...
Mining Feb 19, 2018 Rapaport News
London to Host Ethical-Gemstone Fair 150
Ethically Sourced Gem Fair Comes to UK
Three UK suppliers are collaborating on a one-day fair inLondon that will feature only ethically sourced and traceable gemstones forpurchase by jewelry designers. Stuart Pool of Nineteen48, KathyChappell of Fair Trade Gemstones and Ian Bone of Queensland,Australia-based...
Polished Markets Feb 18, 2018 Rapaport News
Phillips Names New Americas Jewelry 150
Phillips Names Jewelry Head for Americas
Phillips has appointed Susan Abeles head of jewelry for theAmericas, the auction house said Friday. Abeles (pictured), who will be based at the company’s New Yorkheadquarters, has been tasked with creating a jewelry team...
Polished Markets Feb 18, 2018 Rapaport News
Alrosa Israel Auction Fetches $14M 150
Prices Strong at Alrosa Israel Auction
Alrosa sold $13.7 million worth of special-size rough diamonds in Israel earlier this month, the miner said Friday. The company auctioned 105 diamonds larger than 10.8 carats, totaling 1,665 carats. The stones...
Mining Feb 18, 2018 Rapaport News
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