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Erich Jacobs JBT thumbnail
JBT Names New President
The Jewelers Board of Trade (JBT) has appointed Erich Jacobspresident. He will succeed Richard Weisenfeld, who is retiring. Jacobs joined JBT in 2018 as vice president of informationtechnology, JBT said lastweek. Weisenfeld first became acting presidentin...
Polished Markets Aug 20, 2019 Rapaport News
Pandora
Restructuring Efforts Boost Pandora
Shares in Pandora rose 10% in early trading Tuesday as salesdeclines narrowed in key markets and restructuring efforts led to signs ofrecovery. Global sales fell 2.6% year on year to DKK 4.69 billion($697.2 million) in the second quarter,...
Retail Aug 20, 2019 Rapaport News
Macy's JCP
Jewelry Strong for J.C. Penney, Macy’s
J.C. Penney and Macy’s noted strong sales in their jewelrydivisions in the second fiscal quarter, even as overall results were disappointing.“Our fine-jewelry business continues to deliver strong salesresults,” J.C. Penney chief financialofficer Bill Wafford...
Retail Aug 20, 2019 Rapaport News
Sothebys Anna Hu
Sotheby’s to Sell 100ct. Yellow-Diamond Necklace
Sotheby’s has collaborated with Chinese jewelry designer Anna Hu on a five-piece collection featuring a 100-carat, fancy-intense-yellowdiamond necklace. Hu’s Silk Road Music Collection will go under the hammer atthe October Magnificent Jewels and Jadeite auction...
Polished Markets Aug 20, 2019 Rapaport News
Alrosa
Alrosa Slashes Full-Year Sales Outlook
Alrosa has reduced its sales forecast for this year in light of sluggish rough demand in the second quarter.The company expects to sell between 32 million and 33 million carats of rough diamonds for 2019, compared to its...
Mining Aug 20, 2019 Rapaport News
Michael Hill
Challenging Retail Market Hits Michael Hill Sales
Revenue at Michael Hill fell in the last fiscal year amid a difficultretail environment and the company’s move away from discounting prices. Group revenue at the Australia-based jeweler fell 1% to AUD569.5 million ($386.2 million) for...
Retail Aug 19, 2019 Rapaport News
Fake green rough diamond
GIA Exposes Rough Diamond’s Fake Green Color
Manufacturers coated a rough diamond with a green substanceto imitate a natural color, the Gemological Institute of America (GIA) saidafter the stone turned up for grading.The presence of chromium oxide powder on the surface ofthe 6.49-carat crystal...
Rough Markets Aug 19, 2019 Rapaport News
DPA video
DPA Seeks to Eradicate Diamond Misconceptions
The Diamond Producers Association (DPA) has released a campaign that aims to challenge misconceptions about diamond mining inan effort to capture millennial consumers. “The goal is to convey some of the key facts and truthsabout natural...
Marketing Aug 19, 2019 Rapaport News
Ian Rowe DDI DP
Ian Rowe to Head Diamond Development Initiative
The Diamond Development Initiative (DDI) has promoted IanRowe to executive director. He will replace Dorothée Gizenga, who will lead theorganization’s new Africa office. Rowe, who has served as deputy executive director of the DDIsince...
Rough Markets Aug 19, 2019 Rapaport News
Gem Diamonds
Slow Market Dents Gem Diamonds Results
Revenue at Gem Diamonds fell in the first half of the yearamid weakness in the market. Sales of rough diamonds from the Letšeng mine in Lesotho plunged 44% to $94.5 million by value, and dropped10% to 55,714 carats by volume,...
Mining Aug 18, 2019 Rapaport News
Sotheby's
Sotheby’s Expects $26M for Pink Diamond
A 10.64-carat pink diamond ring worth up to $25.5 million will go under the hammer at Sotheby’s Hong Kong sale. The fancy-vivid-purplish-pink center stone is internallyflawless, the auction house told Rapaport News Friday. Sotheby’s willoffer the...
Polished Markets Aug 18, 2019 Rapaport News
Rough diamonds
De Beers Lets Clients Reject 50% of Goods
De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek’s sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump...
Rough Markets Aug 18, 2019 Joshua Freedman
De Beers
Debswana Mourns Death of Albert Milton
Albert Milton, managing director of De Beers’Botswana joint venture, has died, the company said Friday. Milton passed away early Friday morning after becomingunwell Thursday night in Johannesburg, where he was admitted to the hospital. “De...
Mining Aug 18, 2019 Rapaport News
Tiffany
Tiffany Launches Men’s Collection
Tiffany & Co. has launched its first comprehensive collection of men’sjewelry, breaking away from its traditional style by offering a more modern alternative. The move is part of the retailer’s plan to attract a wideraudience and appeal...
Retail Aug 18, 2019 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
Low expectations for Sep. Hong Kong show due to slowdownin Chinese demand and escalation of political protests. Trade war affectingconfidence. US jewelers likely to raise local manufacturing as 10% tariff ondiamond and jewelry imports from...
Polished Markets Aug 15, 2019 Rapaport News
India Arch
India: Cutters Shifting to Lower-Cost Goods
IIJS show sees slowdiamond trading, but steady gold inquiries ahead of festival and weddingseason. Jewelers waiting for gold-price stability before making orders.Polished production reduced by estimated 30%, with cutters shifting tolower-cost goods...
Research Aug 15, 2019 Rapaport News
Rapaport TradeWire August 15, 2019
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Research Aug 15, 2019 Rapaport
Stornoway
Stornoway Fears for Its Future
Stornoway Diamond Corporation has given a stern warningabout its ability to remain in business, after failing to find a buyer for the company. The miner had until July 15 to find an investor for its Renard operation as part...
Mining Aug 15, 2019 Rapaport News
Pandora
Pandora Launches Harry Potter Collection
Pandora and Warner Bros. will partner on a HarryPotter-inspired collection, featuring iconic characters and symbols from thefilms. The line will comprise 12 hand-finished products, includingcharms, pendants and a bracelet, designed by Francesco Terzo and FilippoFicarelli,...
Retail Aug 15, 2019 Rapaport News
Hong Kong airport protest
Trade Seeks Discount for Hong Kong Show
The Hong Kong Jewelry Manufacturers’ Association (HKJMA)is asking the organizers of the September show for a 25% discount for itsmembers, citing difficult market conditions due to the trade war and socialunrest in the city....
Polished Markets Aug 15, 2019 Joshua Freedman
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