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Podcast
Podcast: Oversupply, Tariffs and Silver Linings
As the trade returns from its summer vacations and starts to look toward the holiday season, the Rapaport editorial team outlines the industry’s prospects for the rest of the year. It’s volatile out...
Polished Markets Aug 22, 2019 Rapaport News
IIJS
Trade War Sparks Opportunity for Indian Jewelers
India’s diamond and jewelry trade is hoping to take market share from Chinese suppliers after the US government announced a hike on import duties from China. There’s a changing world order and India is well placed to capitalize...
Retail Aug 13, 2019 Avi Krawitz
Imports
How Trump’s Tariffs Could Affect the Trade
Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018,...
Financial-Legal Aug 11, 2019 Lara Ewen
HSBC
HSBC to Pay $330M in Antwerp Fraud Settlement
A Swiss unit of HSBC has agreed to pay a record EUR 294.4 million ($330 million) to settle fraud claims against its Belgian business, which mainly served members of the Antwerp diamond trade.In 2014, a Belgian judge...
Financial-Legal Aug 07, 2019 Joshua Freedman
Diamonds at Tenders
Let’s Set Our Sights on the Auctions
De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
Rough Markets Aug 07, 2019 Avi Krawitz
De Beers
Diamond Trading Quiet Amid Tight Profits
RAPAPORT PRESS RELEASE, August 6, 2019, Las Vegas … Diamond-market sentiment was weak in July due to tight profits and liquidity. The pressures facing cutters and dealers resulted from high rough supply at inflated prices...
Polished Markets Aug 06, 2019 Rapaport
Shanghai
Israel, Shanghai Bourses Strengthen Cooperation
Members of the Israel and Shanghai diamond exchanges are set to sign a cooperation agreement during the inaugural Israel Diamond Week that opens in the Chinese city on Tuesday.The three-day event marks the first time...
Polished Markets Jul 15, 2019 Rapaport News
Jewelry manufacturing
Manufacturer LDC Acquires Metal-Casting Company
LDC, a jewelry manufacturer based in East Providence, RhodeIsland, has acquired precious-metals caster First Casting Company. First Casting was founded by Jerry Traficante and his wife,Susan, in 1980, with the couple continuing to run the...
Manufacturing Jul 10, 2019 Rapaport News
IIDGR
Will Gemologists Survive Automation?
Amid the tech boom that is shaping the diamond industry, a growing number of companies are challenging the grading laboratories, arguing that assessing the 4Cs should not be a subjective science.“Five to 10 years from now, diamond...
Technology Jul 10, 2019 Avi Krawitz
Titan
High Gold Prices Mute Titan Growth
Indian jewelry retailer Titan Company cautioned that sales were lower than expected in its first fiscal quarter as high gold prices weighed on consumer spending. Sales from the jewelry division, which includes the...
Retail Jul 09, 2019 Rapaport News
Gucci
Gucci Forays into High-End Jewelry
Luxury fashion house Gucci has made a move into high jewelrywith the inauguration of its first boutique and a collection by creativedirector Alessandro Michele. The store, which is dedicated exclusively to jewelry,opened on July 2 in Paris’s historic Place...
Retail Jul 07, 2019 Rapaport News
Alrosa rough
Stop Buying Rough
The prevailing panic surrounding the rise of lab-grown diamonds is overshadowing the bigger challenge facing the diamond market: There is no profit in the trade. This long-term challenge is reaching crisis levels, as manufacturers lack liquidity and...
Rough Markets Jul 03, 2019 Avi Krawitz
Jewelers of America DC visit 2019
Tariffs, Taxes Top JA Washington Agenda
A delegation from Jewelersof America (JA) has met with US lawmakers and congressional staff to discuss trade and tax concerns affecting its members. Themeeting, which took place on Capitol Hill in Washington, DC, on June 19,...
Financial-Legal Jul 02, 2019 Rapaport News
Diamond Cutting
Challenging Diamond Market Sees Further Declines
RAPAPORT PRESS RELEASE, July 2, 2019, Las Vegas … Diamond market sentiment was weak in June due to sluggish demand and tightening manufacturing profits. Suppliers are reducing prices to raise liquidity, as they’re under pressure from...
Polished Markets Jul 02, 2019 Rapaport
Luk Fook
China Expansion Spurs Luk Fook Growth
Luk Fook’s revenue and profit grew in fiscal 2019, driven by an expansion of its network in mainland China.Overall revenue for the Hong Kong-based jewelry retailer rose by 9% to HKD 15.86 billion ($2.03 billion) in the year ending...
Retail Jul 01, 2019 Rapaport News
RJC
RJC Ready to Target Consumers
The Responsible Jewellery Council (RJC) is planning a strategy to help retailers assure consumers their jewelry has been ethically sourced and that they follow the required sustainability standards. The group, whose mandate is to set...
Polished Markets Jun 27, 2019 Avi Krawitz
Image: A Kay Jewelers store in New Jersey. (Shutte
Signet Revenue Drops in First Quarter
Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the...
Retail Jun 06, 2019 Rapaport News
Sands Expo
Video: Vegas Show Sees Light Traffic
The JCK Las Vegas show ended Monday, with participants notinga decline in buyer traffic and exhibitors at this year’s event. Sentiment amongdiamond suppliers was relatively weak, as buyers were conservative, and overalldealer trading...
Polished Markets Jun 04, 2019 Avi Krawitz
Swarovski 150
Swarovski Plans Move into Natural Diamonds
Swarovski, the Austrian jeweler famous for its cut-glass crystals, is preparing to launch its natural diamond operations, Nadja Swarovski, head of corporate communications and design services, said in a panel discussion at the JCK Las Vegas...
Polished Markets May 31, 2019 Avi Krawitz
JC Penney
Jewelry Shines for Macy’s, J.C. Penney
Macy’s and J.C. Penney noted strong sales in their jewelrydivisions in the first fiscal quarter, even as overall results showed a downward trend. “Our fine-jewelry business continues to deliver strong salesresults,” J.C. Penney chief financial...
Retail May 22, 2019 Rapaport News
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