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De Grisogono
De Grisogono Files for Bankruptcy Amid Probe
De Grisogono has filed for bankruptcy shortly after it was caught up in an alleged money-laundering scandal involving Isabel dos Santos, the daughter of Angola’s former president, and her husband.Last week, media reports stated dos Santos’s...
Retail Jan 29, 2020 Rapaport News
LVMH
Jewelry Strong for LVMH in 2019
Sales of jewelry and watches at LVMH increased 7% in 2019 amid a strong year for Bulgari.Revenue from the categories rose to EUR 4.41 billion ($4.85 billion), driven by Bulgari’s Fiorever collection, which contributed significantly to growth following...
Retail Jan 29, 2020 Rapaport News
Lucapa
Graff Unit Signs Polishing Deal with Lucapa
Graff-owned diamond manufacturer Safdico will cut and polish a portion of rough from the Lulo mine through a partnership with Lucapa Diamond Company.Safdico will have the rights to buy up to 60% of Lulo’s annual rough production...
Mining Jan 29, 2020 Rapaport News
De Beers
De Beers Sales Rise to Nine-Month High
De Beers’ January rough-diamond sales reached their highest level since last April as post-holiday stock replenishment boosted demand.Proceeds of $545 million at the first sales cycle of 2020 were 9% higher than a year ago, the miner...
Rough Markets Jan 29, 2020 Rapaport News
Swarovski
Swarovski Debuts Lab-Grown Diamond Colors
Crystal brand Swarovski introduced 16 new synthetic-diamond colors at Paris Haute Couture Fashion Week.The new hues fall into four creative categories in which Swarovski claims to play a role, it said last week. Each of the four...
Retail Jan 28, 2020 Rapaport News
Thessaloniki 150
Gem Symposium to Feature Synthetics Debate
The Sixth Mediterranean Gemmological & Jewellery Conference will feature a roundtable debate on marketing lab-grown diamonds.The conference will take place from May 15 to 17 in Thessaloniki, Greece.Michael Schlamindger of Swarovski and Mark Cullinan of Cullinan Diamonds will...
Polished Markets Jan 28, 2020 Rapaport News
Elodi WDC 150
WDC Welcomes New Executive Director
The World Diamond Council (WDC) has hired industry veteran Elodie Daguzan as executive director to succeed Marie-Chantal Kaninda, it said Tuesday.Daguzan most recently spent eight years at Paris-based diamond-trading company Rubel & Ménasché as head...
Rough Markets Jan 28, 2020 Rapaport News
Swiss Watches
China Demand Drives Swiss Watch Growth
Swiss watch exports rose in December, as retailers stocked up in anticipation of the Chinese New Year.Shipments to all countries grew 6% to CHF 1.73 billion ($1.78 billion) in December, the Federation of the Swiss Watch Industry reported Tuesday. That...
Watches Jan 28, 2020 Rapaport News
Diamcor
Shift to Cheaper Rough Hits Diamcor Results
Diamcor Mining’s rough-diamond sales were flat year on year in the third fiscal quarter, as a shift to lower-quality goods led to a drop in the average price.The company sold 13,218 carats for $1.4 million during the period...
Mining Jan 27, 2020 Rapaport News
Petra
Petra Revenue Drops as Prices Weaken
Petra Diamonds’ shares fell 11% in early trading Monday after the miner reported a slide in revenue resulting from weak rough prices.Revenue fell 6% to $193.9 million in the first fiscal half ending December 31, while...
Mining Jan 27, 2020 Rapaport News
Kochert bracelet 150
Martin Rapaport to Speak at Palm Beach Show
Martin Rapaport will be one of a number of speakers at this year’s Palm Beach Show, where he will give a lecture explaining the challenges and opportunities in the diamond trade.The 17th edition of the annual event, previously known...
Polished Markets Jan 27, 2020 Rapaport News
Mountain Province
Rough Slump Hits Mountain Province
Sales of rough diamonds at Mountain Province fell 13% in 2019 as a glut in the midstream led to a challenging market.The company’s sales from its Gahcho Kué mine in Canada slipped year on year to $208.2 million in 2019, it said last...
Mining Jan 26, 2020 Rapaport News
De Beers
De Beers Sales Volume Down in 2019
De Beers’ sales fell 8% by volume last year amid a slowdown in the rough-diamond market and weak demand from the manufacturing sector.The miner sold 30.9 million carats of rough, compared with 33.7 million carats in 2018,...
Mining Jan 26, 2020 Rapaport News
Alrosa
Weak Market Dents Alrosa Sales
Rough-diamond sales at Alrosa fell 26% in 2019 as an oversupply in the midstream led to weaker demand.Revenue for the year dropped to $3.27 billion, while the average selling price slid 16% to $98 per carat, the Russian...
Mining Jan 26, 2020 Rapaport News
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Rapaport Weekly Market Comment
Polished sentiment positive following steady holiday sales. Strong interest in 0.30 ct., D-F, IF-VS1, but high-end 3 ct. and larger weak. Increasing rough demand raising polished-oversupply concerns as large quantities expected to enter market...
Polished Markets Jan 23, 2020 Rapaport News
India gold jewelry
India: Chinese New Year Offering Some Optimism
Polished slower than usual for this time of year. Dealers worried about repeat of 2019 diamond glut as they anticipate influx of rough following large De Beers and Alrosa January sales. Chinese New Year offering...
Research Jan 23, 2020 Rapaport News
Rapaport TradeWire January 23, 2020
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Research Jan 23, 2020 Rapaport
Rapaport TradeWire January 23, 2020
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Research Jan 23, 2020 Rapaport
De Beers rough
De Beers Plans Overhaul of Supply Policy
De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.The move, which would go into effect from 2021, would...
Rough Markets Jan 23, 2020 Joshua Freedman
Gem Legacy
Gem Legacy Adds New Advisory Board Member
Craig Danforth will join the advisory board of Gem Legacy, a nonprofit organization dedicated to supporting African colored-gemstone mining communities.Danforth, the vice president of client solutions for Jewelers Mutual Group, has more than 25 years...
Mining Jan 23, 2020 Rapaport News
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