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Rapaport TradeWire October 29, 2020
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Research Oct 29, 2020 Rapaport
Rapaport Logo
Rapaport Weekly Market Comment
Sentiment mixed as Nov.-Dec. holiday season begins amid continued rise in Covid-19 cases. Dealer trading slow as manufacturers focus on direct supply to jewelers. E-commerce supporting retail market. Adobe predicts online holiday sales +33% to $189B....
Polished Markets Oct 29, 2020 Rapaport News
Sarine Galaxy
Manufacturing Rebound Boosts Sarine Revenue
Sales at Sarine Technology improved in the third quarter as diamond-manufacturing levels increased following a lockdown in India, the equipment producer reported Wednesday.Revenue rose 25% versus the previous quarter to $7.4 million in the three months ending...
Manufacturing Oct 29, 2020 Rapaport News
Blue Nile Lightbox 150
Blue Nile to Sell Lightbox Lab-Grown Diamonds
Blue Nile has launched an exclusive line of Lightbox lab-grown diamond jewelry, its first foray into synthetics in its 21-year history.De Beers-owned Lightbox seemed like the obvious choice for a partner, given the alignment...
Retail Oct 29, 2020 Leah Meirovich
Tiffany engagement rings
LVMH Seals Tiffany Takeover at Lower Price
Tiffany & Co. and LVMH have settled their public dispute, agreeing to a reduced price for their takeover deal after the French luxury group walked away last month. LVMH will pay $131.50...
Retail Oct 29, 2020 Rapaport News
Dvash with Diamond
Yoram Dvash to Step Down as Israel Bourse Head
Israel Diamond Exchange (IDE) president Yoram Dvash will not run for a third term, choosing instead to focus on his leadership position at the World Federation of Diamond Bourses (WFDB).Elections for the IDE presidency are...
Polished Markets Oct 28, 2020 Rapaport News
Adobe online shopping 150
Adobe Predicts Huge Jump in Online Holiday Sales
E-commerce spending in the US is set to “shatter” all previous records for the holidays, according to Adobe Analytics.Sales will rise 33% year on year to $189 billion over the November-to-December period, Adobe predicted in its annual online...
Retail Oct 28, 2020 Rapaport News
Letseng diamonds
Letšeng Prices Exceed Pre-Pandemic Levels
Gem Diamonds’ sales rose sharply in the third quarter as rough prices from its lucrative Letšeng mine in Lesotho topped pre-coronavirus levels amid a recovery in the large-stone market.Revenue grew to $60.5 million in the three months...
Rough Markets Oct 28, 2020 Rapaport News
Rough diamonds Dominion
Dominion Seeks Rescue Deal to Avoid Liquidation
Dominion Diamond Mines may have to enter liquidation if it fails to find a buyer or investor, chairman Brendan Bell warned in a court filing last week.The company has been seeking restructuring options after its planned sale of the...
Mining Oct 28, 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 Oct 28, 2020 Rapaport News
Petra Finsch 150
Petra Sales Rise as Rough Prices Recover
Petra Diamonds’ revenue jumped in the three months ending September 30 as rough prices grew and the company sold inventory it couldn’t shift during the peak of the Covid-19 crisis.Sales rose 33% year on year to $82...
Mining Oct 27, 2020 Rapaport News
AWDC 150
New Banking Law Set to Support Antwerp Trade
Belgium’s federal parliament has approved a new law entitling diamond companies to open bank accounts even after suffering repeated rejections.The Basic Banking Law guarantees fundamental banking services to all Belgian companies, the Antwerp...
Polished Markets Oct 27, 2020 Joshua Freedman
Yoram Dvash
Trade Must Continue Transformation, Dvash Urges
The week of September 14 was as momentous as they come for Yoram Dvash. The 56-year-old head of the Israel Diamond Exchange was elected president of the World Federation of Diamond Bourses (WFDB), having served as its interim...
Polished Markets Oct 26, 2020 Avi Krawitz
Students learning to sort rough diamonds in De Bee
De Beers Delays New Sightholder Contract
De Beers has extended its current sightholder contract by three months after the Covid-19 pandemic disrupted the renewal process.The supply agreement, originally due to expire on December 31, will remain in place until March 31,...
Rough Markets Oct 26, 2020 Joshua Freedman
De Beers Diamond Jewellers Ring
Preparing for a Holiday Season Like No Other
Rapaport’s quarterly Diamond Trends Webinar outlined the key developments the trade should look out for during the holiday season and 2021.The webinar, presented last week by Rapaport Senior Analyst Avi Krawitz,...
Polished Markets Oct 26, 2020 Rapaport News
Firestone rough 150
Firestone to Test Diamond Prices in November
Firestone Diamonds plans to sell a portion of its inventory next month to assess the prices it can secure for its rough stones as the market begins to recover.The miner is holding 64,700 carats of rough from its Liqhobong...
Mining Oct 26, 2020 Rapaport News
WJA Olivia Shih 150
Industry Group Awards Jewelry-Design Scholarship
The Women’s Jewelry Association (WJA) has awarded the 2020 Cindy Edelstein scholarship to California-based jewelry designer Olivia Shih.The $5,000 grant — named for the jewelry consultant and author, who died in 2016 — is given...
Polished Markets Oct 26, 2020 Rapaport News
Christies Geneva Graff Brooch 150
Christie’s to Offer 107ct. Yellow Diamond
Christie’s will offer a brooch by Graff containing a 107.46-carat, fancy-yellow diamond at its Geneva Magnificent Jewels auction.The piece, which features the brilliant-cut stone surrounded by white diamonds, is estimated to fetch up to CHF 3.3 million ($3.6 million)...
Polished Markets Oct 26, 2020 Rapaport News
Kering Boucheron store 150
Asia Rebound Drives Kering Jewelry Sales
Kering’s jewelry brands performed well in the third quarter of 2020 amid a recovery in the luxury-goods market in the Asia-Pacific region.“Despite their significant exposure to Western Europe and Japan, the jewelry houses held up well,” the...
Retail Oct 26, 2020 Rapaport News
Patent
WD Opens Up Lab-Grown Patents to Distributors
WD Lab Grown Diamonds has entered into patent sublicensing agreements with two synthetics companies, enabling them to distribute chemical vapor deposition (CVD) stones in North America and beyond.The deals with Altr and Altr...
Financial-Legal Oct 25, 2020 Rapaport News
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