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Rapaport Weekly Market Comment
E-commerce driving sales at start of US holiday season. Black Friday online spending +22% to $9B, Cyber Monday +15% to $10.8B, reports Adobe Analytics. In-store shopping sluggish due to ongoing spread of Covid-19. Foot traffic -55% on Thanksgiving...
Polished Markets Dec 03, 2020 Rapaport News
Israel Bahrain Dec 2020
Israel, Bahrain Bourses Sign Agreement
The Israel Diamond Exchange (IDE) and the Bahrain Bourse have agreed to collaborate on trade following a recent peace deal between the Middle East countries.The two institutions signed a memorandum of understanding (MoU) at the IDE...
Polished Markets Dec 03, 2020 Rapaport News
Rapaport TradeWire December 3, 2020
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Research Dec 03, 2020 Rapaport
Signet Kay
Signet Sales Jump as Holidays Start Early
Signet Jewelers saw its first quarterly sales increase in two years as innovations helped the company capitalize on a release of pent-up demand and early holiday shopping.Revenue rose 9.5% year on year to $1.3 billion for the...
Retail Dec 03, 2020 Joshua Freedman
Zales 150
Zales Debuts Online Market for Emerging Designers
Zales has launched its first online marketplace, which will feature a rotating line of pieces by up-and-coming fine-jewelry designers from across the US.The Signet Jewelers-owned banner conducted a nationwide search for maverick designers that...
Retail Dec 03, 2020 Rapaport News
Stuller JCK 2019 booth
Stuller Close to Normal Operations After Cyberattack
Stuller has made progress recovering from a cyberattack that struck over the weekend, with deliveries resuming and communications systems back in action.“As customers place orders this week, we are committed to and anticipate meeting...
Technology Dec 03, 2020 Rapaport News
Lucapa pink heart 150
Lucapa Unveils 15ct. Polished Pink Diamond
Lucapa Diamond Company has released the polished results of a 46-carat pink rough it sold into a manufacturing partnership with Graff subsidiary Safdico. A heart-shaped, 15.2-carat, fancy-intense-orangey-pink, VVS1-clarity diamond is one of three stones Safdico cut from...
Polished Markets Dec 03, 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 Dec 03, 2020 Rapaport News
Hong Kong smuggling Nov 2020
HK Uncovers Largest Smuggling Case in Years
Hong Kong customs officials seized 162 diamonds at a border crossing with China last week, claiming the stones had been smuggled in a driver’s trouser pocket.The goods had a market value of around HKD 6.4 million...
Financial-Legal Dec 02, 2020 Rapaport News
NRF Holiday Shutterstock 150
US Holiday Weekend Spending Falls
The average spend over the five-day Thanksgiving weekend dropped 14% as consumers shied away from in-store shopping, according to a survey by the National Retail Federation (NRF) and Prosper Analytics.Shoppers spent an average of $312 on holiday-related...
Retail Dec 02, 2020 Rapaport News
World Diamond Museum book
New Book Charts Story of Diamonds
The World Diamond Museum, a virtual exhibition, has published its first book on the history of the precious stone as part of an effort to invigorate passion for diamonds.The 432-page work, Diamonds Across Time, contains chapters on famous...
Polished Markets Dec 02, 2020 Rapaport News
Adobe Cyber Monday 150
Cyber Monday Haul Largest in US History – Adobe
US consumers shelled out a record $10.8 billion on e-commerce purchases on Cyber Monday, which broke last year’s record to become the largest online shopping day in US history, according to Adobe Analytics.Digital sales for the day increased...
Retail Dec 02, 2020 Rapaport News
Stuller HQ
Stuller Hacked by Cyberattackers
Stuller, one of the largest US jewelry wholesalers, was the victim of a cyberattack on Saturday morning, resulting in delays to orders at a critical point in the holiday season.Customers may experience “several circumstances that are non-Stuller-like” this week following...
Technology Dec 01, 2020 Joshua Freedman
Hong Kong retail 150
Hong Kong Retail Decline Narrows in October
Sales of jewelry and other luxury items in Hong Kong slid in October, even as an upturn in the health situation eased the market slowdown.Revenue from jewelry, watches, clocks and other valuable gifts fell 27% year...
Retail Dec 01, 2020 Rapaport News
DMCC Israel launch
Dubai Opens Office in Israel Diamond Exchange
The Dubai Multi Commodities Centre (DMCC) has launched a representative outpost in the Israel Diamond Exchange (IDE), paving the way for a deeper trading relationship between the two markets.The DMCC, a state-funded trading hub...
Polished Markets Dec 01, 2020 Joshua Freedman, Sonia Esther Soltani
Diamond ring
Holiday Demand Uplifts Diamond Trade
RAPAPORT PRESS RELEASE, December 1, 2020, Las Vegas… Diamond market sentiment improved in November amid rising expectations for the holiday season. A recovery in China and robust sales during India’s Diwali festival also lifted...
Polished Markets Dec 01, 2020 Rapaport
Ethics in Action 150
Gem Auction Aims to Raise Awareness of Ethics
Columbia Gem House will hold an auction of pieces by 25 designers to raise awareness of human exploitation across the gem and jewelry industry.The company launched an invitational design challenge among the designers to create jewelry using stones...
Polished Markets Dec 01, 2020 Rapaport News
Phillips Feng J HK 150
Phillips Garners $9M at Hong Kong Auction
A pink-diamond necklace by designer Feng J was the top seller at Phillips’s Hong Kong sale, leading the $9 million auction.The Jardin de Giverny, a diamond and gem-set necklace featuring a 19-carat, fancy-light-pink diamond center stone, sold for...
Polished Markets Nov 30, 2020 Rapaport News
Black Friday traffic 150
Jewelry Sales Fall on Black Friday
US jewelry sales plunged 54% year on year on Black Friday as consumers stayed away from physical stores, according to shopping tracker RetailNext.Total footfall at brick-and-mortar stores decreased 48%, while in-store purchases across all categories slid...
Retail Nov 30, 2020 Rapaport News
Looking at polished diamond through loupe at Almod
De Beers Aims for Full Traceability by 2030
De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade.By 2025, it will “scale” programs that help identify...
Retail Nov 30, 2020 Rapaport News
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