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US Diamond Shipments Drop in August
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US polished-diamondimports fell 25% to $1.3 billion in August, reflecting a decline in volumes andaverage price. Imports were down 11% for the first eight months of the year,according to the latest data from the US Commerce Department. US Trade...
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Polished Markets
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Oct 30, 2019
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Rapaport News
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More Brides Buying Their Own Engagement Rings
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US women increasingly buy engagement rings forthemselves, and spend more on them than their partners do, De Beers said Mondayin its annual Diamond Insight Report. The proportion of engagement rings financed solely by brides rose...
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Retail
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Oct 29, 2019
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Rapaport News
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LVMH Proposes Tiffany Takeover
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LVMH Moët Hennessy Louis Vuitton has approached Tiffany & Co. about acquiring the US jeweler for almost $15 billion, according to media reports. The Paris-based luxury group submitted a non-binding offerto Tiffany earlier...
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Retail
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Oct 27, 2019
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Rapaport News
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US Consumer Spending Dips
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US retail sales stalled between Augustand September, indicating that consumer confidence may be waning in light ofthe escalating trade war. Total purchases for September —excluding automobiles, gasoline and restaurants — dipped 0.1% compared to theprevious...
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Retail
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Oct 17, 2019
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Rapaport News
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Costco Sells $220,000 Diamond Ring
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Costco sold a diamond ring worth $220,000 in the fourth fiscal quarter, the membership-based warehouse retailer saidearlier this month. Executivevice president and chief financial officer Richard Galanti confirmed thesale during the company’s...
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Retail
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Oct 16, 2019
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Rapaport News
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UBS Predicts Drop in Diamond-Jewelry Sales
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Global diamond-jewelry demand will decline 2% this year asstock-market volatility in the US is likely to affect consumer sentiment, UBSpredicted. “Demand in 2019 [to date] has been lackluster, and we expecta modest decline in global diamond-jewelry sales in [the...
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Retail
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Oct 02, 2019
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Rapaport News
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US Polished Imports Decline
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USpolished-diamond imports dropped 21% to $1.6 billion in July, according to thelatest data from the Commerce Department. This year’s downwardtrend has continued, with polished imports falling 10% for the first seven months.The average...
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Polished Markets
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Sep 24, 2019
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Rapaport News
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James Avery Picks Non-Family Member as CEO
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James Avery Artisan Jewelry has named John McCullough as CEO— the first non-family member to lead the Texas-based retailer. McCullough, who was previously chief operating officer (COO),succeeds Chris Avery, who has been...
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Mining
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Sep 10, 2019
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Rapaport News
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How Trump’s Tariffs Could Affect the Trade
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Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018,...
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Financial-Legal
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Aug 11, 2019
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Lara Ewen
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Signet Revenue Drops in First Quarter
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Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the...
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Retail
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Jun 06, 2019
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Rapaport News
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US Polished Imports Rise in 1Q
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Shipments of polished diamonds to the US grew 4% to $5.51billion in the first quarter, as a stronger March canceled out a negative startto the year. Imports rose 13% to $2.23 billion for the month, compared with a1% rise in January...
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Polished Markets
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Jun 06, 2019
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Rapaport News
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Platinum Jewelry Sales Saw Strong 2018
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Platinum-jewelry demand grew in India and the US in 2018, as younger consumers and male buyers responded strongly to marketing campaigns,Platinum Guild International (PGI) reported. US sales at PGI’s retail members grew 11% amid stronggrowth in the bridal...
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Retail
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May 27, 2019
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Rapaport News
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Chow Tai Fook Launches US Hub
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Hong Kong-based jeweler Chow Tai Fook has launched abusiness hub in Boston that will supply products and services to US retailers. Chow Tai Fook North America (CTFNA) will operate as awholesaler, offering customized diamond...
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Polished Markets
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May 08, 2019
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Rapaport News
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US Polished Imports Drop in Early 2019
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The US polished-diamond trade was sluggish in the firsttwo months of the year, with imports declining and exports stable. Bothcategories recorded a weaker February than January. The drops in import valuereflected a lower average price in both...
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Polished Markets
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May 02, 2019
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Rapaport News
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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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US Trade Confident as Polished Imports Surge
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Dealers expressed optimism for the US diamond marketafter polished imports rose last year to their highest level since 2014.Shipments to the country jumped 8% to $23.3 billion in2018, according to the US Census Bureau, despite more modest...
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Polished Markets
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Apr 03, 2019
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Joshua Freedman
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Time for the Trade to Reengage with Bridal
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There’s a caveat that Stephen Lussier emphasizes when marketing diamonds to millennials as a symbol of love. The industry needs to recognize that love may not entail the formality of marriage, the De Beers head of marketing stressed in an interview...
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Marketing
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Mar 13, 2019
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Avi Krawitz
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Podcast: The New York View
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Rapaport News caught up with Reuven Kaufman, president of New York’s Diamond Dealers Club (DDC), to gauge the mood in the US trade at the start of 2019.Retailers had a good holiday season, but have been wary about...
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Polished Markets
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Jan 31, 2019
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Rapaport News
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DPA Appoints North America Chief
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The Diamond Producers Association (DPA) has appointed former VanCleef & Arpels marketing executive Kristina Buckley Kayel as managingdirector for North America. Buckley Kayel will be in charge of developing andimplementing the DPA’s consumer-marketing and...
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Marketing
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Jan 06, 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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