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JBT
Jewelry Business Closure Rate Grows
The US jewelry trade contracted in the third quarter, withthe rate of downsizing gaining speed after a slowdown over the past few months,data from the Jewelers Board of Trade (JBT) revealed. In the three months ending...
Retail Oct 22, 2019 Rapaport News
De Beers
De Beers Slashes Output Amid Diamond Glut
DeBeers’ production dropped in the third quarter as the miner responded to a declinein rough demand that has left it with an inflated stockpile of diamonds. Outputfell 14% to 7.4 million carats for the period amid planned mine...
Mining Oct 22, 2019 Rapaport News
Jubilee
Alrosa Sales Down as Cutters Reduce Stock
Alrosa’s sales fellin the third quarter amid a drop in the average price as the miner sold alarger proportion of small stones, it reported Thursday.Sales decreased 37% to $611 million for the three months ending September...
Mining Oct 22, 2019 Rapaport News
GIA
GIA Invests $1.3M to Expand Gem Guide in Africa
The Gemological Institute ofAmerica (GIA) has committed $1.3 million to deploying its free gemology guidefor artisanal miners across multiple countries in Africa. The kit will be available to 10,000 miners over four years inMadagascar,...
Mining Oct 22, 2019 Rapaport News
The Diamond Office in Antwerp
Belgium Diamond Shipments Drop
Belgium’s diamond trade slowed in September, continuing adownward trend for the year. A 25% decline in polished exports reflected lowervolumes and a fall in the average price. Sep 2019 Year-on-year change Polished exports $873 -25%...
Polished Markets Oct 22, 2019 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
Markets quiet amid Jewish holidays with steady demand forRapSpec A3+ goods. Indian manufacturers delay Diwali shutdown to increasepost-festival inventory. Trading slow at Bharat Diamond Week. Liquidity lowwhile companies settle supplier bills and...
Polished Markets Oct 17, 2019 Rapaport News
Rapaport TradeWire October 17, 2019
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Research Oct 17, 2019 Rapaport
christies blue diamond 101719 150
$14M Blue Diamond to Headline Christie’s Geneva
A fancy-deep-blue diamond ring with a highestimate of CHF 14 million ($14.1 million) will go under the hammer at Christie’s GenevaMagnificent Jewels auction next month. The 7.03-carat stone,mounted by Moussaieff, will lead the November auction, Christie’s said...
Polished Markets Oct 17, 2019 Rapaport News
NRF September
US Consumer Spending Dips
US retail sales stalled between Augustand September, indicating that consumer confidence may be waning in light ofthe escalating trade war. Total purchases for September —excluding automobiles, gasoline and restaurants — dipped 0.1% compared to theprevious...
Retail Oct 17, 2019 Rapaport News
Zale obit
Former Zales Vice Chairman Marvin Zale Dies
Marvin Zale, son of Zales founder Morris Zale, and former vice chairman of the jeweler, has died at 89. Born in Texas in 1930, Zale grew up in his father’s jewelrybusiness, which was established in 1924. He began his...
Retail Oct 17, 2019 Rapaport News
Rio Tinto
Rio Tinto Output Falls Amid Lower Grades
Lower mining grades and reduced ore availability contributedto a drop in Rio Tinto’s third-quarter diamond production, the company reportedWednesday. Output at its wholly owned Argyle mine in Australiafell 7% year on year, yielding 3.6 million carats...
Mining Oct 17, 2019 Rapaport News
Chow Tai Fook
Chow Tai Fook Sales Slump
Hong Kong-based jeweler Chow Tai Fook has reported adownward trend in sales across both mainland China and Hong Kong in the secondfiscal quarter. Same-store sales of gold products — at branches open for atleast 12 months...
Retail Oct 17, 2019 Rapaport News
Tiffany Stevens JVC
CIBJO Publishes Ethics Recommendations
The World JewelleryConfederation (CIBJO) has produced a special report on ethics ahead of its annualcongress in Bahrain next month.“Weaving It All Together: An Ethical Status Report at the End of2019,” released on Wednesday, covers a variety of topics, ranging frominternational...
Mining Oct 16, 2019 Rapaport News
Christies
Christie’s Hires West Coast Watch Expert
Christie’s has appointed AntiquesRoadshow watch expert Michael Fossner to lead its west coast watchdepartment. The auctioneer has charged Fossner with leading appraisals whileguiding and growing the company in the region. He is also expected...
Watches Oct 16, 2019 Rapaport News
Costco
Costco Sells $220,000 Diamond Ring
Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer saidearlier this month. Executivevice president and chief financial officer Richard Galanti confirmed thesale during the company’s...
Retail Oct 16, 2019 Rapaport News
Lucapa
Lucapa Tender Yields $10M
Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
Mining Oct 16, 2019 Rapaport News
DEF
DEF Invests in Education on Three Continents
The Diamond Empowerment Fund (DEF) has grantedits largest-ever award, to be shared among nine beneficiaries across three continents.The $470,000 training and education grant,released early last week, is designed to support girls’ education,entrepreneurship and youth...
Financial-Legal Oct 15, 2019 Rapaport News
Alrosa
Alrosa Sales Decline at Slower Rate
Alrosa’s sales fell 24% year on year to $258.7 million inSeptember, amid continued market weakness. However, the total was the highest in four months, and reflecteda noticeable recovery in the small-stone sector, the Russian...
Mining Oct 15, 2019 Rapaport News
Lightbox
Lightbox to Debut at Bloomingdale’s, Reeds
De Beers will partner with two major retailers topromote Lightbox, its brand of affordable lab-grown diamond jewelry. Lightbox’s $800-per-carat jewelry is set to be soldin select Bloomingdale’s stores, including in New York City and San Francisco,...
Retail Oct 15, 2019 Rapaport News
WD
Lab-Grown Sector Gears Up for Eco Audit
Six synthetic-diamond companies have signed up for apilot program aimed at creating a sustainability standard for the sector. SCS Global Services, a third-party auditing specialist,will analyze companies’ environmental, social and governance records, with thegoal...
Polished Markets Oct 15, 2019 Rapaport News
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