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Richemont HK store 140
Resurgent Jewelry Sales Lift Richemont
Richemont’s jewelry sales increased 9% year on year in the third fiscal quarter as strong growth across most of its global network offset weakness in the European market.Jewelry proceeds from Cartier, Van Cleef & Arpels and...
Retail Jan 20, 2021 Rapaport News
Everledger Lucara 30 carat diamond
Quartet Teams Up to Verify 30-Carat Diamond
Everledger has partnered with three major industry organizations to offer traceability for a 30-carat diamond from the Karowe mine in Botswana.The technology company teamed up with India-based manufacturer Hari Krishna Exports, miner Lucara Diamond...
Technology Jan 20, 2021 Rapaport News
Rio Tinto Diavik diamonds 140
Rio Tinto Output Falls Amid Argyle Closure
Rio Tinto’s diamond production fell in 2020 as the miner reduced output from its Argyle site in Australia in preparation for its shutdown.Total production slid 14% to 14.7 million carats for the full year, the...
Mining Jan 20, 2021 Rapaport News
Petra 299ct 140
Petra Rough Prices Rise to Pre-Pandemic Levels
Rough-diamond prices at Petra Diamonds’ January tender rose 8% on a like-for-like basis, returning to levels seen before Covid-19, the miner said Tuesday.The tender included about 382,000 carats of rough mined during the first fiscal half...
Mining Jan 19, 2021 Rapaport News
GSI natural lab-grown
GSI Now Testing for Undisclosed Natural Diamonds
Gemological Science International (GSI) has launched a service that tests lab-grown diamond jewelry for undisclosed natural stones, noting that mixing had become increasingly common.“During our routine grading process for laboratory-grown diamond...
Technology Jan 19, 2021 Rapaport News
Rapaport Price Statistics Review
Rapaport Publishes Diamond Price Statistics Review
RAPAPORT PRESS RELEASE, January 19, 2021, New York… The Rapaport Group has released its Diamond Price Statistics Annual Report for 2020, evaluating the performance of polished-diamond prices. The report provides an in-depth...
Polished Markets Jan 19, 2021 Rapaport
Todd Reed colored rough diamond rings from NDC hol
Diamonds in Demand Among Millennials, Gen Z
Diamond jewelry is the most desired tangible luxury product among consumers under the age of 40, second only to vacations, according to a survey by the Natural Diamond Council (NDC).The majority of demographic groups picked vacations as the...
Marketing Jan 19, 2021 Rapaport News
AGS Conclave 140
American Gem Society Announces 2021 Conclave
The American Gem Society’s (AGS) annual Conclave will return this year, with a live event in Dallas, Texas.The event will take place from September 12 to 14 at the Sheraton Dallas Hotel, AGS said last week....
Polished Markets Jan 19, 2021 Rapaport News
Luk Fook store HK 140
Mainland Recovery Can’t Save Luk Fook Sales
Sales at Luk Fook slid in the third fiscal quarter as a slump in the Hong Kong market outweighed a recovery on the mainland.Group-wide same-store sales — at branches open for at least a year — fell 29% year on year during the...
Retail Jan 19, 2021 Rapaport News
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 Jan 19, 2021 Rapaport News
Diamonds Do Good Rebecca Foerster 140
Alrosa US Chief to Head Diamonds Do Good
Diamonds Do Good (DDG) has named Rebecca Foerster as its new president. She will succeed Anna Martin, who is departing after a four-year term.Foerster, who is the president of Alrosa’s US operations, was elected to the position after...
Polished Markets Jan 19, 2021 Rapaport News
De Beers rough diamond
De Beers and Alrosa Raise Rough Prices
The two largest diamond miners increased prices at this week’s rough sales as demand improved due to post-holiday restocking and strong trading ahead of the Chinese New Year.De Beers raised prices by an average of 4% to 5% at its first...
Rough Markets Jan 18, 2021 Joshua Freedman
Michael Hill 140
Canada Lockdown Weighs on Michael Hill
Michael Hill’s sales slipped 2.8% in the first half of its fiscal year as a lockdown in Canada outweighed growth in the Australian market.Group revenue decreased to AUD 317.5 million ($243.6 million) during the six months ending...
Retail Jan 18, 2021 Rapaport News
Diversity study 140
Jewelry Industry Fares Well Overall on Racial Justice
Members of the US jewelry industry are happy overall with the level of racial justice and equality found across the trade, according to a diversity survey Jewelers of America (JA) and National Jeweler conducted.Nearly three-quarters of employers...
Retail Jan 18, 2021 Rapaport News
Podcast Episode 1
Podcast: Digital or Bust?
In the first episode of Rapaport’s new podcast series, “Technology and the Diamond Trade,” three experts discuss the importance of building an effective online strategy. Diamond and jewelry companies have raised the stakes when...
Marketing Jan 18, 2021 Rapaport News
Lucara 341ct 140
Karowe Yields First Large Diamond of 2021
Lucara Diamond Corp. has unearthed a 341-carat white diamond at its Karowe mine in Botswana, the first over 100 carats the deposit has produced this year.The miner recovered the “high-quality,” unbroken stone from...
Mining Jan 17, 2021 Rapaport News
Petra Diamonds Williamson mine
NGO Warns Petra Lenders About Abuse Claims
Rights and Accountability in Development (RAID), a UK-based nonprofit, has written to Petra Diamonds’ major debt holders to raise concerns about alleged human-rights abuses at its Williamson mine in Tanzania.RAID claims to have documented at least seven deaths...
Mining Jan 17, 2021 Rapaport News
NRF Holiday 2020 140
US Holiday Sales Outstrip Expectations – NRF
US retail sales increased 8.3% during the recent holiday season, as consumers looked to connect with family and friends during the pandemic, the National Retail Federation (NRF) said.Consumers spent $789.4 billion over the...
Retail Jan 17, 2021 Rapaport News
De Beers
De Beers Cuts Clients, Keeps More Goods in Africa
De Beers has reduced its sightholder list in a revamp of its supply system, with more goods expected to go to pure-play manufacturers, especially those with Africa-based factories.The new list features fewer diamond dealers than before, as De Beers...
Rough Markets Jan 17, 2021 Joshua Freedman
Rapaport Logo
Rapaport Weekly Market Comment
Polished sentiment positive despite limitations on travel due to Covid-19. Shortages supporting prices. Suppliers anticipate strong 1Q inventory replacement after relatively good US holiday season. Signet Jewelers Nov.-Dec. revenue flat at $1.8B, same-store sales +5.6%,...
Polished Markets Jan 14, 2021 Rapaport News
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