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February 12 2020

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Michael Hill store
Online Growth Boosts Michael Hill Sales
Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler’s first fiscal half, as investments in digital platforms paid off.Same-store sales — at retail locations open for at least a year...
Retail Feb 27, 2020 Rapaport News
Watches and Wonders 2019.
Geneva Watch Fair Canceled; Baselworld Still On
The organizers of the Watches & Wonders Geneva show have canceled the April event due to the coronavirus. Baselworld is still set to take place, as it stands.Switzerland’s Fondation de la Haute Horlogerie said it was its “duty” to anticipate...
Watches Feb 27, 2020 Rapaport News
GIA
GIA Names New Mineral ‘Dutrowite’
The Gemological Institute of America (GIA) has confirmed a new mineral species discovered in Italy, which it has named “dutrowite.”The moniker is in recognition of GIA governor Barbara Dutrow and her contributions to mineral sciences and crystal chemistry....
Polished Markets Feb 27, 2020 Rapaport News
Argyle pinks
Rio Tinto Diamond Revenue Drops in 2019
Revenue from Rio Tinto’s diamond division slid 11% to $619 million in 2019 as prices for rough diamonds weakened, the miner reported Wednesday. The diamond unit recorded a net loss of $21 million, compared with...
Mining Feb 26, 2020 Rapaport News
De Beers sightholder examining rough
De Beers Lets Sightholders Defer Chinese Goods
De Beers has allowed clients to forgo buying certain rough diamonds at this week’s sight, as the coronavirus outbreak has raised concerns about a polished glut.The miner has let sightholders defer purchases of goods that produce...
Rough Markets Feb 26, 2020 Joshua Freedman
Firestone Liqhobong 150
Firestone Faces Fallout from Power Disruption
Production at Firestone Diamonds faltered in the second fiscal quarter, as the miner faced a near monthlong power disruption it estimates will cost it $4.6 million.Output from the company’s Liqhobong mine in Lesotho fell 39% to 138,000 carats...
Mining Feb 26, 2020 Rapaport News
BDB
India’s Diamond Shipments Decline
India’s polished-diamond exports dropped 6% to $1.65 billion in January, reflecting a lower average price, even as volumes rose. Rough imports also fell, according to data from the country’s Gem & Jewellery Export Promotion Council. India...
Polished Markets Feb 26, 2020 Rapaport News
GSI treated diamond
Lab Spots New Method for Masking Synthetics
Gemological Science International (GSI) is urging extra diligence after receiving a lab-grown diamond bearing a treatment generally only found in natural stones.“Diamond-growing technology continues to improve and growers are trying to mimic natural diamonds in every possible...
Polished Markets Feb 25, 2020 Rapaport News
China customs officials
China’s Diamond Trade Weighs Virus Effect
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away,...
Polished Markets Feb 25, 2020 Joshua Freedman
Sarine
Weak Market Drives Sarine to Loss
Sarine Technologies reported a loss in 2019, as soft demand in the first nine months outweighed a stronger fourth quarter.The diamond technology company reported a net loss of $1.4 million for the year, compared with a profit of $7.6...
Technology Feb 25, 2020 Rapaport News
Rough diamonds De Beers
Virus Likely to Impact Demand at De Beers Sight
De Beers and its clients expect a slowdown in rough-diamond sales at the company's Botswana sight this week amid concerns about the coronavirus.“It’s fair to say there will be an impact on rough demand in the short term,” De Beers...
Rough Markets Feb 25, 2020 Joshua Freedman
Berkshire Hathaway
Retail Sales Rise at Buffett Conglomerate
Revenue from the retail division of Warren Buffett’s Berkshire Hathaway rose 2.5% to $16 billion in 2019, the company reported Saturday.The increase for the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and...
Retail Feb 24, 2020 Rapaport News
Lucara
Lucara Revenue Beats Expectations in 2019
Lucara Diamond Corp.’s sales rose in 2019 as the miner sold a higher volume of rough from its Karowe mine in Botswana.Proceeds for the year increased 9% to $192.5 million, exceeding the company’s $170 million to $180 million...
Mining Feb 24, 2020 Rapaport News
The Knot
Couples Shelling Out More on Engagement Rings
US couples spent 4% more on engagement rings in 2019, according to a survey by wedding resource The Knot.Consumers that took part in the study paid approximately $5,900 on average for their engagement ring in 2019, versus $5,680 the previous...
Polished Markets Feb 23, 2020 Rapaport News
Ellen Joncheere HRD Antwerp
HRD Antwerp Not for Sale (for Now)
The Antwerp World Diamond Centre (AWDC) has postponed the sale of HRD Antwerp, and will instead embark on a turnaround strategy for the laboratory.“The [AWDC] board of directors and standing committee decided not to sell...
Polished Markets Feb 23, 2020 Joshua Freedman
Alrosa
New Alrosa Mine Yields 17ct. Yellow
Alrosa has recovered a 17.44-carat, bright-yellow, gem-quality diamond at its Verkhne-Munskoye deposit, the first colored stone found at the mine since it opened.The stone, recovered in mid-February from the mine in Yakutia, was found in the Zapolyarnaya...
Mining Feb 23, 2020 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
China slowdown affecting global sentiment. Diamond markets quiet as coronavirus reduces value across the supply chain. Chinese and Hong Kong jewelers remain closed and lack of Chinese tourism likely to impact European and...
Polished Markets Feb 20, 2020 Rapaport News
Rapaport TradeWire February 20, 2020
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Research Feb 20, 2020 Rapaport
Podcast
Podcast: How Big a Threat Is the Coronavirus?
With the coronavirus dominating headlines since late January, the Rapaport Diamond Podcast looks at its potential impact on the diamond and jewelry market. In addition, Rapaport Senior Analyst Avi Krawitz sums up the mood...
Polished Markets Feb 20, 2020 Rapaport News
Signet
Signet Launches First Spanish-Language Ads
Signet Jewelers has introduced its first foreign-language advertising campaigns in the US market, targeting the growing number of Hispanic millennials expected to marry in the coming years.“They are a big customer group, and getting a lot bigger...
Retail Feb 20, 2020 Leah Meirovich
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