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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 13, 2020 Rapaport News
Birks Group
Birks Sales Rise Pre-Pandemic
Birks Group’s sales increased sharply in the latest fiscal year as three of its major retail stores reopened following renovations.The Canadian jeweler resumed trading at flagship sites in Vancouver, Toronto and Montreal during the 12-month...
Retail Jul 12, 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
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
Back in business
Jewelers See Positive Signs as Business Restarts
Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis...
Retail Jul 02, 2020 Leah Meirovich
Chow Tai Fook Montage
Chow Tai Fook Expanding China Store Count
Pandemic or not, Chow Tai Fook has no intention of slowing its expansion into China, with plans to open approximately 450 stores on the mainland during the current fiscal year, managing director Kent Wong told...
Retail Jun 29, 2020 Avi Krawitz
Lucara Podcast
Eira Thomas Confident Lucara Can Navigate Crisis
The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs...
Mining Jun 22, 2020 Avi Krawitz
HK March 2019 show
Hong Kong August Shows Canceled
The Hong Kong Trade Development Council (HKTDC) has called off this year’s jewelry fairs, scheduled for August, after quarantine rules made the events inaccessible to overseas participants.The HKTDC initially postponed the...
Polished Markets Jun 21, 2020 Rapaport News
Road to Recovery 150
Where Do We Go from Here?
The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The...
Polished Markets Jun 21, 2020 Avi Krawitz
Diamond jewelry
JVC Releases Guide to FTC Rules
The Jewelers Vigilance Committee (JVC) has published a book containing advice on how to interpret the US Federal Trade Commission (FTC) jewelry guidelines.Understanding the FTC Guidelines deciphers the complex rules governing the manufacture, sale,...
Financial-Legal Jun 18, 2020 Rapaport News
Tiffany China  store 150
Tiffany Sees ‘Robust Recovery’ in China
Tiffany & Co. reported a strong rebound in its operations in mainland China during April and May, after Covid-19 lockdowns resulted in heavy first-quarter losses for the jeweler. “While sales in key markets like the...
Retail Jun 09, 2020 Rapaport News
Stéphane Bianchi.
LVMH Watch Chief Takes On Jewelry Portfolio
LVMH has promoted Stéphane Bianchi to CEO of its watches and jewelry division, starting July 1. Since 2018, he has been CEO of watchmaking and of the French luxury group’s TAG Heuer timepiece brand.Bianchi will oversee...
Retail Jun 08, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
Podcast Banner episode 26
Podcast: Time for Subtle, Discreet Brand Marketing
As difficult as the Covid-19 lockdown period has been, Sally Morrison, director of public relations at De Beers’ consumer and brands division, sees opportunity for the diamond industry moving forward. In the first episode of the Rapaport...
Marketing Jun 01, 2020 Rapaport News
RRR Intro
A Time to Heal
The Covid-19 crisis is presenting an opportunity for the market to restart, refresh, and build on its experience of dealing with the diamond-trade slowdown of the past few years. In these unprecedented times, it would be foolish to make predictions...
Polished Markets May 27, 2020 Avi Krawitz
Staying Relevant in the Coronavirus Era
Staying Relevant in the Coronavirus Era
During lockdown, there comes a time when one simply doesn’t want to be told anymore that we’re in this together — “even though we may be apart.”While plunging further down that YouTube rabbit hole, as we all often have...
Marketing May 14, 2020 Avi Krawitz
Podcast: Is the Diamond Trade Prepared for Change?
Is the Diamond Trade Prepared for Change?
As diamond markets start to return, the Rapaport News team discusses prospects for the industry in the latest episode of the Rapaport Diamond Podcast. We discuss the extent to which things have fundamentally changed in the past...
Polished Markets May 14, 2020 Rapaport News
Lightbox Oregon Plant
Lightbox Delays New Production Plant to 2021
Lightbox, De Beers’ lab-grown diamond jewelry brand, has delayed commissioning its new facility in Portland, Oregon, by a few months due to the COVID-19 pandemic.“The building itself and plant infrastructure [are] already complete, and we are...
Manufacturing May 07, 2020 Avi Krawitz
Polished Diamonds
Diamond Markets Reflect Uncertain Outlook
RAPAPORT PRESS RELEASE, May 5, 2020, Las Vegas… Diamond trading was restricted in April due to the coronavirus pandemic and global lockdowns. Sentiment was weak, with dealers frustrated by the inability to resume business. The...
Polished Markets May 05, 2020 Rapaport
Melee at De Beers Industry Group Services Surat
Eight Surat Cutting Units Return to Work
India has resumed manufacturing and exports of gems and jewelry, as the country starts to ease its restrictions following five weeks of lockdown.Eight production units in Surat, the country’s diamond-cutting hub, have begun operations at the...
Polished Markets May 04, 2020 Rapaport News
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