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WD Opens Up Lab-Grown Patents to Distributors
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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...
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Financial-Legal
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Oct 25, 2020
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Rapaport News
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India Rushes to Meet US Holiday Demand
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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...
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Manufacturing
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Oct 22, 2020
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Joshua Freedman
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Podcast: Cash, Credit and Covid-19
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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...
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Financial-Legal
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Oct 20, 2020
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Joshua Freedman
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Jewelry Trade Continues to Shrink
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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...
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Retail
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Oct 18, 2020
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Rapaport News
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Alrosa Upbeat as Diamond Sentiment Improves
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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...
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Mining
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Oct 18, 2020
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Rapaport News
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US Diamond Trade Declines in August
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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...
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Polished Markets
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Oct 13, 2020
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Rapaport News
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US Polished Imports Continue to Slide
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US polished-diamond imports fell 50% to $806 million in July, according to data from the Commerce Department. The decline was steeper than June’s 34% drop. US Trade Data for July 2020 July 2020 Year-on-year change...
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Polished Markets
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Sep 30, 2020
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Rapaport News
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Bond Actress Revealed as New Face of Diamonds
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The Natural Diamond Council (NDC) has unveiled actress Ana de Armas as the star of its first celebrity campaign, which will debut at next week’s Emmy Awards.De Armas recently received a Golden Globe nomination for...
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Marketing
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Sep 16, 2020
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Rapaport News
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India Trading Still Down, but Decline Eases
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India’s polished-diamond exports fell 26% year on year to $1.22 billion in August, a gentler decline than in previous months, as overseas jewelry demand improved, the country’s Gem & Jewellery Export Promotion Council (GJEPC) reported.“We have...
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Polished Markets
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Sep 15, 2020
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Rapaport News
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GIA on Covid-19, Automation and Synthetics
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The Gemological Institute of America is pressing ahead with projects that may transform diamond grading, CEO Susan Jacques said in an exclusive interview on the Rapaport Diamond Podcast.Despite the pandemic, the institute announced a collaboration with...
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Polished Markets
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Sep 10, 2020
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Joshua Freedman
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LVMH Scraps Tiffany Deal; Tiffany Sues
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LVMH has abandoned its acquisition of Tiffany & Co., citing a trade dispute between the US and France and a disagreement over the timing of the deal.Tiffany has sued LVMH in response, claiming that the luxury...
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Retail
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Sep 09, 2020
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Rapaport News
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Signet Sales Better Than Expected
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Signet Jewelers’ revenue and profit beat expectations in the second fiscal quarter as stores unlocked their doors and the retailer upgraded its digital capabilities.“Sales improved sequentially throughout the second quarter as we reopened stores...
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Retail
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Sep 03, 2020
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Rapaport News
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Tiffany Sees Glimmer of Hope as Profit Slumps
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Tiffany & Co. reported a sharp decline in profit in the second fiscal quarter but noted sales have returned to pre-pandemic levels in August. “Our global sales trends have strengthened in August, with preliminary month-to-date worldwide...
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Retail
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Aug 27, 2020
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Rapaport News
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US Imports Drop – but at Slower Rate
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US polished-diamond imports fell again in June, but the rate of decline eased as the economy reopened following lockdowns. Shipments were down 34% to $822 million for the month, according to the Commerce Department, compared with...
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Retail
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Aug 17, 2020
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Rapaport News
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US Retail Sales Increase in July
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US retail sales recorded their third consecutive rise in July, government data showed, as stores gradually resumed operations and devised ways of serving customers during the pandemic.Revenues of $536 billion for the month were 1.2%...
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Retail
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Aug 16, 2020
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Rapaport News
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Jewelry Brand Fana Names Sales Specialists
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Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead...
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Retail
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Aug 13, 2020
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Rapaport News
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Diamonds High on Holiday Gift Lists
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Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
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Retail
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Aug 11, 2020
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Rapaport News
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Watch Exports to Hong Kong and US Still Weak
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Swiss watch exports dropped heavily in June as continued slowdowns in Hong Kong and the US outweighed a recovery in China.Total shipments fell 35% year on year to CHF 1.13 billion ($1.21 billion), the fourth consecutive monthly decline,...
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Watches
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Jul 21, 2020
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Rapaport News
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US Import Slump Continues in May
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US polished-diamond imports dropped heavily again in May, according to Commerce Department data, with Covid-19 shutting the global market and devastating demand. May is usually the strongest month for shipments as exhibitors send goods to the...
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Polished Markets
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Jul 13, 2020
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Rapaport News
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Jewelers See Positive Signs as Business Restarts
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Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis...
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Retail
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Jul 02, 2020
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Leah Meirovich
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