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Rapaport TradeWire July 9, 2020
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Research Jul 09, 2020 Rapaport
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Rapaport Weekly Market Comment
Diamond trade uncertain amid spike in coronavirus infections and new restrictions in India and Israel. Prices firm for select goods as 1 ct. RAPI +1.9% in June. Investment demand for 0.50 to 1 ct., D, IF and bridal supporting...
Polished Markets Jul 09, 2020 Rapaport News
Pandora
Pandora Benefits from Improved Store Traffic
Sales at Pandora improved towards the end of the second quarter as the majority of its stores reopened and consumer traffic increased following the coronavirus lockdown.“The better-than-expected financial performance is a result of faster reopening of markets, slightly...
Retail Jul 09, 2020 Rapaport News
Rough diamonds Alrosa.
Alrosa Delays July Sale to Later in Month
Alrosa has pushed its July contract sale to the end of the month in response to requests from clients who had expressed interest in making purchases, the Russian miner said Thursday.The trading session, previously scheduled...
Rough Markets Jul 09, 2020 Rapaport News
Israel Diamond Exchange.
Israel Diamond Industry ‘on Verge of Collapse’
Israel’s diamond industry is on the verge of collapse as the coronavirus has wiped out sales and forced business to stop, the president of the Israel Diamond Exchange said Wednesday in a letter to the government.The pandemic will cost...
Polished Markets Jul 09, 2020 Rapaport News
Christie's
Christie’s Garners $5M at Paris Auction
Christie’s brought in $5.2 million from its Fine Jewels sale in Paris, with several pieces smashing their presale estimates.A ring by designer Verdura, featuring a rectangular cut-cornered, 5.57-carat Kashmir sapphire and rectangular cut-cornered, H-color,...
Polished Markets Jul 09, 2020 Rapaport News
A Titan store in Deoghar, Jharkhand.
Titan Sales Slump as Lockdown Hits India
Revenue at Titan Company dropped sharply in the past two months during India’s coronavirus lockdown, but the jewelry retailer noted encouraging signs as restrictions eased.Jewelry sales fell more than 80% year on year in May...
Retail Jul 09, 2020 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 Jul 09, 2020 Rapaport News
Polished diamond
India Trade Calls for Lower Import Tax
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.The Gem & Jewellery Export Promotion Council (GJEPC)...
Polished Markets Jul 08, 2020 Rapaport News
Diamonds Do Good
Industry Leaders to Offer Insights in Virtual Session
Diamonds Do Good will host a virtual gathering in which key leaders from the diamond and retail sectors will offer insights and perspectives on the future of the natural-diamond industry.“The world has undergone a seismic change...
Polished Markets Jul 08, 2020 Rapaport News
NRF 100
Signet Lands on Top 100 Retailers List
Signet Jewelers was rated as one of the top 100 retailers on the National Retail Federation’s (NRF) 2020 list, which ranks companies based on annual retail sales.The retailer came in at number 98, the only jewelry...
Retail Jul 08, 2020 Rapaport News
HK Show Sept 2019
September Hong Kong Show Now in November
The September Hong Kong show has been postponed to November due to the coronavirus and related travel restrictions, organizer Informa Markets said Wednesday.Jewellery & Gem World (JGW) Hong Kong, formerly the September...
Polished Markets Jul 08, 2020 Rapaport News
Birks 150
Birks Sidelines Omni-Channel Role
Birks Group has eliminated a top omni-channel position on its management team as part of a restructuring effort in the wake of the coronavirus pandemic.The Canada-based jeweler has let go of Lanita Layton, its vice president and chief omni-channel...
Retail Jul 08, 2020 Rapaport News
Ekati
Two Parties Interested in Buying Dominion
Two companies have expressed interest in acquiring Dominion Diamond Mines, according to an affidavit by its former CEO Brendan Bell.Those parties, who were not named in the June 12 legal filing, have signed non-disclosure agreements that...
Mining Jul 07, 2020 Rapaport News
Surat
Surat Factories to Stay Shut Until July 14
Surat authorities have extended the shutdown of the Indian city’s diamond-manufacturing sector for another week after the number of coronavirus cases grew.While trading markets can reopen this Friday, cutting factories won’t be able...
Manufacturing Jul 07, 2020 Rapaport News
De Beers
Survey: Shoppers Prefer to Buy Jewelry In-Store
US consumers still favor purchasing diamond jewelry in a brick-and-mortar shop, but want store owners to provide proper safety measures against the coronavirus, according to a De Beers survey.“While consumers increasingly desire a diamond-acquisition journey that blends the...
Retail Jul 07, 2020 Rapaport News
Diamond in Loupe
Diamond Price Index Firms Amid Slow Trade
RAPAPORT PRESS RELEASE, July 7, 2020, Las Vegas… The global diamond market was uncertain in June due to the resurgence of Covid-19 and geopolitical tensions. Polished prices firmed for select goods. The RapNet Diamond...
Polished Markets Jul 07, 2020 Rapaport
A jeweler holding a diamond ring. (Shutterstock)
Could Covid-19 Reshape the Memo Market?
The Covid-19 shutdown and its consequences have caused many diamond wholesalers and jewelry retailers to reevaluate even the most basic business practices. Is there a new normal for memos as well? Memos, both short-...
Polished Markets Jul 06, 2020 Joyce Kauf
DMCC
DMCC Opens Doors to Lab-Grown Business
Synthetic-diamond firm Lumex will set up shop in the Dubai Multi Commodities Centre (DMCC), as the trading hub looks to expand its lab-grown sector. “In line with its mandate to attract, facilitate and drive new...
Rough Markets Jul 06, 2020 Rapaport News
The Diamond Office in Antwerp
Belgium’s Diamond Shipments Drop Further
Belgium’s diamond trade slowed in June, with polished exports down 44% year on year to $469 million, according to data from the Antwerp World Diamond Centre (AWDC). However, the rate of decline eased following heavier...
Polished Markets Jul 05, 2020 Rapaport News
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