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Rapaport Weekly Market Comment
Sentiment improving after relatively good trading in July-August. Shortages supporting prices. Fewer dealers active in the market. Suppliers with the right goods that meet selective demand gaining market share. Manufacturers considering higher...
Polished Markets Aug 13, 2020 Rapaport News
Rapaport TradeWire August 13, 2020
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Research Aug 13, 2020 Rapaport
Shelby Sterrett Fana
Jewelry Brand Fana Names Sales Specialists
Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead...
Retail Aug 13, 2020 Rapaport News
ABN Amro branch in Terneuzen, The Netherlands
ABN Amro to Cease Hong Kong Diamond Lending
Dutch bank ABN Amro will close its Hong Kong diamond business in a major trimming of its global operations.The company is shutting the branch from which it lends to the local polished market, as part of a retreat from...
Financial-Legal Aug 13, 2020 Joshua Freedman
Rough
What De Beers and Alrosa Clients Really Want
Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished...
Rough Markets Aug 13, 2020 Joshua Freedman
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
Polished Markets Aug 13, 2020 Rapaport News
Forevermark ring 150
Forevermark Debuts in New Zealand
De Beers will launch its Forevermark diamond brand in New Zealand in partnership with local retailer Partridge Jewellers.Forevermark’s high-end Black Label collection will be available at three Partridge stores in Auckland, Wellington and Christchurch, De Beers said...
Retail Aug 12, 2020 Rapaport News
Tiffany 150
Tiffany Ranked Among ‘Hot 100’ Retailers
Tiffany & Co. has retained a spot on the National Retail Federation’s (NRF) list of the fastest-growing US retailers.The New York-based company came in at number 95, the only jewelry specialist to make the cut this year,...
Retail Aug 12, 2020 Rapaport News
Titan earrings 150
India’s Titan Incurs ‘Unprecedented’ Loss
Titan Company, India’s largest jewelry retailer, recorded heavy losses in the first fiscal quarter as the coronavirus forced it to close stores for most of the period.The company reported a net loss of INR 2.97 billion ($39.7...
Retail Aug 12, 2020 Rapaport News
GIA grading
GIA to Give Full Color, Clarity Grades for Lab-Grown
The Gemological Institute of America (GIA) is launching a new digital report for lab-grown diamonds that will feature specific color and clarity grades. The organization, which currently only offers loose descriptions and grade...
Polished Markets Aug 12, 2020 Rapaport News
News analysis Aug 2020
To Speak Out, or Not to Speak Out?
The killing of George Floyd at the hands of police in May and the subsequent protests split US society in a way that few other events have. While companies in all sectors have increasingly engaged in corporate activism in recent...
Retail Aug 11, 2020 Joshua Freedman
Lucara sorters 150
Lucara Ends Second Quarter at a Loss
Lucara Diamond Corp. reported a loss for the second quarter amid weaker demand and a planned halt on regular tenders of large stones from its Karowe mine.The company recorded a net loss of $13.9 million for...
Mining Aug 11, 2020 Rapaport News
Forevermark diamond ring
Diamonds High on Holiday Gift Lists
Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
Retail Aug 11, 2020 Rapaport News
Alrosa yellow diamond 150
Alrosa Finds Russia’s Largest Colored Diamond
Alrosa has recovered a 236-carat, intense-yellow-brown diamond, the largest natural colored diamond found in Russia.The stone, which the miner recovered from its Ebelyakh deposit in Yakutia, is an estimated 120 million to 230 million years old,...
Mining Aug 10, 2020 Rapaport News
Artisanal Miners Sierra Leone
A Crucial Moment for Artisanal Miners
The question of how to tackle the hardships facing informal diamond miners is as pressing today as it was when it first arose nearly 20 years ago.It was first touted as an issue that perhaps the Kimberley Process (KP) could...
Fair Trade Aug 10, 2020 Avi Krawitz
Hong Kong skyline
Hong Kong Trading Hits New Low
Polished-diamond imports into Hong slumped in the second quarter as the Covid-19 pandemic damaged local demand. Shipments into the municipality fell 45% year on year to $2.24 billion, the weakest for any quarter since...
Polished Markets Aug 09, 2020 Rapaport News
Berkshire Hathaway 150
Retail Sales Slide at Berkshire Hathaway
Revenue from the retail division of Warren Buffett’s Berkshire Hathaway fell 16% to $3.37 billion in the second quarter, the company reported Saturday.The division, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben...
Retail Aug 09, 2020 Rapaport News
Sarine 150
Sarine Turns Profit Following Cutbacks
Sarine Technologies ended the first half of 2020 in the black as deep cost cuts offset the effects of Covid-19.The supplier of diamond-polishing equipment made a profit of $1.2 million for the period, compared with a loss of $2.8...
Manufacturing Aug 09, 2020 Rapaport News
Mountain Province Gahcho Kue 150
Mountain Province in the Red as Demand Slows
Mountain Province reported a loss in the second quarter as the coronavirus pandemic closed markets and hit demand.The miner posted a net loss of CAD 26.8 million ($21.8 million) for the three months ending June...
Mining Aug 09, 2020 Rapaport News
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Rapaport Weekly Market Comment
Polished market improving due to select demand from US and China. Shortages supporting prices; 1 ct. RAPI +1.9% in July. Jewelers acclimating to new normal by emphasizing digital sales and lower in-store inventory. De Beers considering layoffs...
Polished Markets Aug 06, 2020 Rapaport News
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