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March Shutdown Hits Swiss Watch Exports
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Swiss watch exports slumped in March amid continued market pressures resulting from the coronavirus pandemic.Shipments slid 22% to CHF 1.36 billion ($1.4 billion) for the month, with most markets declining significantly, the...
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Watches
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Apr 21, 2020
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Rapaport News
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De Beers Converting Facilities to Tackle Virus
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De Beers is using its mining sites in Botswana and its technology production center in the UK to help the fight against COVID-19.Debswana, the company’s joint venture with Botswana, is making facilities available for the government to use...
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Mining
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Apr 06, 2020
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Rapaport News
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De Beers Sight Still On Despite Travel Ban
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De Beers’ upcoming sight in Botswana will still take place despite the country’s ban on arrivals from the US, China, India and Belgium, the miner has confirmed.“While this is an extraordinary situation and COVID-19 has...
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Rough Markets
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Mar 18, 2020
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Joshua Freedman
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UK Secures Deal to Keep Rough Trade Alive
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The UK has secured independent membership of the Kimberley Process (KP), enabling it to continue participating in the international rough-diamond trade after the nation leaves the European Union.Britain’s decision to withdraw from the EU on January 31 requires the...
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Rough Markets
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Jan 15, 2020
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Joshua Freedman
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Rapaport Proposes Sierra Leone Diamond Reform
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RAPAPORT PRESSRELEASE, April 17, 2019, New York … The Rapaport Trade Mission to Sierra Leoneattracted a strong group of 29 international diamantaires and jewelers. Participants were from theUS, India, UAE, UK, Switzerland, Turkey, Canada, Spain, and...
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Fair Trade
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Apr 17, 2019
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Rapaport
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Belgium Prepares for ‘No-Deal’ Brexit
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Belgium’s diamond industry has urged companies to preparefor the possibility of the UK leaving the European Union (EU) without a customsdeal.Trading between the EU and the UK will be subject to customschecks if the two parties fail to finalize an agreement...
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Rough Markets
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Jan 21, 2019
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Rapaport News
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De Beers’ Lightbox Chief Reveals 2019 Plans
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De Beers shocked the industry in May by announcing it would launcha line of fashion jewelry featuring laboratory-grown diamonds. Lightbox Jewelrystarted selling the products online in September, and it’s now looking atexpansion options.The main opportunity to develop...
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Retail
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Dec 27, 2018
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Joshua Freedman
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Brexit Could Halt UK Rough Trade
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The UK will temporarily be unable to import and export roughdiamonds if the nation leaves the European Union without an exit deal, thegovernment has warned. The UK is currently a member of the Kimberley Process (KP) byvirtue of its being...
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Rough Markets
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Oct 21, 2018
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Rapaport News
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Brexit Concerns Weigh on UK Jewelers
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The weak pound and uncertainty over the UK’s departure fromthe European Union are making it hardfor British jewelers to plan their business activities, dealers said.The currency has declined about 13% since Britain’s...
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Financial-Legal
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Sep 06, 2018
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Joshua Freedman
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UK Jewelry Body Eyes Role as Trade Police
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The UK’s National Association of Jewellers (NAJ) is seekingan upgraded status that would enable it to police the industry on issues such as lab-grown diamonds following cutsto public funding. The group is in talks to become a “primary authority,”granting it the...
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Financial-Legal
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Sep 03, 2018
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Joshua Freedman
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Asia Keeps Swiss Watch Recovery on Track
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Swiss watch exports grew in October as demand from key Asianmarkets continued its recent upward trend.Total shipments increased 9% year on year to $1.86 billion (CHF1.85 billion) for the month, according to data the Federation of the...
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Watches
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Nov 21, 2017
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Rapaport News
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UK Show Upbeat Despite Brexit Fears
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The International Jewellery London (IJL) trade fair saw brisk visitortraffic and positive sentiment among sellers, as buyers defied uncertaintiesover Brexit and the economic outlook to restock before Christmas.Exhibitornumbers at the UK event, which ended...
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Polished Markets
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Sep 06, 2017
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David Brough
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UK Jewelers Weather Brexit Uncertainty
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Theweaker pound has boosted jewelry demand from tourists as travelers visitthe UK seeking cheap deals, retailers have reported.Jittersover Britain’s exit process from the EU and the outlook for the UK economy havedragged on the pound...
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Retail
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Aug 28, 2017
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David Brough
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Bonhams to Auction 4.03ct. Blue Diamond
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A fancy intense blue diamond will lead Bonhams’ Londonauction next month, with the company estimating it could fetch close to $2million. The pear-shaped, 4.03-carat stone has been in a UK privatecollection for more than 30 years, Bonhams...
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Polished Markets
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Aug 21, 2017
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Rapaport News
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Birks Sells Mayor’s to UK Group for $105M
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Birks Group has agreed to sell Mayor’sJewelers to Aurum Holdings, the UK’s largest fine watch and jewelry retailer,for $104.6 million.Birks expects to complete the sale of thesubsidiary this fall, with the deal subject to closing...
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Retail
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Aug 13, 2017
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Rapaport News
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Head of UK’s CMJ Resigns After 10 Years
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Willie Hamilton has stepped down as CEO of the Company ofMaster Jewellers (CMJ), a network of UK jewelry retailers, the organizationsaid Monday. Terry Boot, the group’s head of finance and businessoperations, will have day-to-day control in the...
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Mining
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Aug 01, 2017
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Rapaport News
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Theo Fennell Founder Takes Over Own Brand
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Jewelry designer Theo Fennell has bought out the luxurybrand that bears his name, with the backing of private-equity group Endless.Theo Fennell entered administration last month after theLondon-based jeweler became unable to handle...
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Retail
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Jun 29, 2017
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Rapaport News
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Sotheby’s to Auction $13 Diamond
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A diamond ring bought for a pittance inthe 1980s is set to appear at a Sotheby’s auction next month with a price tagthat’s up to 35,000 times higher.The buyer acquired the cushion-shaped, 26.27-carat, I-color,VVS2-clarity diamond for $13 (GBP 10)...
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Polished Markets
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May 23, 2017
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Rapaport News
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Theo Fennell Hands Control to Rescuers
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UK jeweler Theo Fennell has entered administration, almostfour years after a private equity group acquired the high-end retailer.Administrators from professional-services firm BDO havealready received “a number of expressions of interest” since their appointmenton Friday, BDO...
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Retail
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May 21, 2017
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Rapaport News
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Head of UK Jewelry Body Steps Down
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Michael Rawlinson has resigned as CEO of the UK’s NationalAssociation of Jewellers (NAJ) to pursue other interests, the tradeorganization said Friday.Rawlinson (pictured) took charge of the NAJ in 2015, whenthe British Jewellers’ Association (BJA) and the...
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Retail
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May 21, 2017
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Rapaport News
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