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Tiffany Beijing store
LVMH Replaces Tiffany CEO as Deal Closes
LVMH has shaken up Tiffany & Co.’s senior management after the French luxury group finally completed its acquisition of the iconic US jewelry brand.Anthony Ledru, previously executive vice president for global commercial activities...
Retail Jan 07, 2021 Rapaport News
Tiffany 2020 holiday campaign jewelry
Tiffany Holiday Sales Reach All-Time High
Sales at Tiffany & Co. rose 2% during the holiday season as the US jeweler benefited from sharp growth in China and a surge in online demand.Revenue in the Asia-Pacific region jumped 20% year on year in November and December,...
Retail Jan 06, 2021 Rapaport News
Covid retail
Covid-19 Resurgence Hits Consumer Confidence
US consumer confidence fell almost 5% this month amid the latest coronavirus wave, according to the Conference Board.The business data group’s Consumer Confidence Index declined to 88.6 in December, from 92.9 in November, it reported Tuesday. Americans...
Retail Dec 24, 2020 Rapaport News
New York 47th street
US Polished Imports Down as Average Price Falls
Polished-diamond imports into the US slid 8% year on year to $1.34 billion in October as a lower average price outweighed higher carat volumes, according to recent data from the US Commerce Department. The US has now seen 19 consecutive months...
Financial-Legal Dec 22, 2020 Rapaport News
Swiss Watches
China Rebound Boosts Swiss Watch Exports
Swiss watch exports showed a stabilizing trend in November as buoyant Chinese demand helped ease the decline the industry had seen for most of this year.Global shipments fell 3.2% year on year to CHF 1.94 billion...
Watches Dec 21, 2020 Rapaport News
Diamond engagement ring
Engagement-Ring Budgets Stable During Pandemic
The pandemic has altered how US consumers shop for engagement rings, rather than having a major impact on the amounts they spent, according to a survey by wedding resource The Knot.Proposers made greater use of online tools...
Retail Dec 20, 2020 Rapaport News
AGS Conclave 2019
American Gem Society Postpones April Conclave
The American Gem Society (AGS) has rescheduled its next annual Conclave, which was due to take place in April 2021.The Las Vegas-based organization is planning to hold the event in the fall, and is working to select...
Polished Markets Dec 09, 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
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
Polished diamond
US Polished Imports Continue to Drop
The US recorded its 18th consecutive monthly fall in polished-diamond imports as the coronavirus pandemic continued to affect trading. Shipments dropped 10% year on year to $1.34 billion in September — the gentlest decline since March, according to data...
Polished Markets Nov 22, 2020 Rapaport News
Shutterstock
Swiss Watch Exports Maintain Gloomy Streak
Swiss watch exports saw their ninth consecutive monthly decline as US orders slipped and a fresh wave of European lockdowns cast a cloud over demand in the region.Global shipments fell 7% to CHF 1.88 billion ($2.07 billion) in October,...
Watches Nov 19, 2020 Rapaport News
TSL Malaysia store
Hong Kong’s Tse Sui Luen Suffers Heavy Losses
Hong Kong-based jeweler Tse Sui Luen (TSL) fell into the red in its first fiscal half as the coronavirus and tensions between the US and China battered its business across the region.The retailer...
Retail Nov 19, 2020 Rapaport News
De Beers rough sorting at Debmarine Namibia
De Beers Sees Third Consecutive Sales Increase
De Beers’ November sales cycle garnered $450 million as retail demand in the US and China supported manufacturers’ appetite for rough, the company reported Wednesday.The monthly total, covering the period from November 2 to 16, was...
Rough Markets Nov 18, 2020 Rapaport News
De Beers Insight Report Nov 2020
De Beers: Recovery to Extend ‘Well Beyond 2020’
The diamond sector’s rebound from the Covid-19 crisis will feature ups and downs that will continue into next year at least, De Beers predicted.“The demand recovery is not expected to be linear, particularly as localized lockdowns...
Retail Nov 10, 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
De Beers Industry Services grading Surat
India Rushes to Meet US Holiday Demand
Indian diamond manufacturers are planning a curtailed Diwali break as they scramble to fulfill US holiday orders amid a shortage of polished.Factories will shut for five to 12 days instead of the usual two to three weeks, aiming to offset months...
Manufacturing Oct 22, 2020 Joshua Freedman
Podcast Oct 2020
Podcast: Cash, Credit and Covid-19
The coronavirus crisis has split US jewelers into haves and have-nots, Jewelers Board of Trade (JBT) president Erich Jacobs told the Rapaport Diamond Podcast.Digital-savvy businesses have thrived while less advanced competitors — or those...
Financial-Legal Oct 20, 2020 Joshua Freedman
Diamond jewelry retail
Jewelry Trade Continues to Shrink
The US jewelry industry continued to downsize in the third quarter, with 101 companies leaving the business, according to new data from the Jewelers Board of Trade (JBT).Nine firms went bankrupt, while 37 dropped out due...
Retail Oct 18, 2020 Rapaport News
Alrosa mine trucks
Alrosa Upbeat as Diamond Sentiment Improves
Alrosa gave a positive assessment of the diamond market ahead of the holidays after rough and polished trading picked up in the third quarter.The Russian company’s rough-diamond sales climbed to $552.9 million during the three months...
Mining Oct 18, 2020 Rapaport News
New York Times Square
US Diamond Trade Declines in August
US polished-diamond imports dropped 39% year on year to $821 million in August, reflecting lower volumes and price per carat, according to data from the Commerce Department. The decline was gentler than the 50% drop...
Polished Markets Oct 13, 2020 Rapaport News
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