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Resurgent Jewelry Sales Lift Richemont
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Richemont’s jewelry sales increased 9% year on year in the third fiscal quarter as strong growth across most of its global network offset weakness in the European market.Jewelry proceeds from Cartier, Van Cleef & Arpels and...
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Retail
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Jan 20, 2021
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Rapaport News
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Quartet Teams Up to Verify 30-Carat Diamond
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Everledger has partnered with three major industry organizations to offer traceability for a 30-carat diamond from the Karowe mine in Botswana.The technology company teamed up with India-based manufacturer Hari Krishna Exports, miner Lucara Diamond...
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Technology
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Jan 20, 2021
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Rapaport News
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Rio Tinto Output Falls Amid Argyle Closure
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Rio Tinto’s diamond production fell in 2020 as the miner reduced output from its Argyle site in Australia in preparation for its shutdown.Total production slid 14% to 14.7 million carats for the full year, the...
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Mining
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Jan 20, 2021
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Rapaport News
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Petra Rough Prices Rise to Pre-Pandemic Levels
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Rough-diamond prices at Petra Diamonds’ January tender rose 8% on a like-for-like basis, returning to levels seen before Covid-19, the miner said Tuesday.The tender included about 382,000 carats of rough mined during the first fiscal half...
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Mining
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Jan 19, 2021
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Rapaport News
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GSI Now Testing for Undisclosed Natural Diamonds
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Gemological Science International (GSI) has launched a service that tests lab-grown diamond jewelry for undisclosed natural stones, noting that mixing had become increasingly common.“During our routine grading process for laboratory-grown diamond...
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Technology
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Jan 19, 2021
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Rapaport News
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Rapaport Publishes Diamond Price Statistics Review
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RAPAPORT PRESS RELEASE, January 19, 2021, New York… The Rapaport Group has released its Diamond Price Statistics Annual Report for 2020, evaluating the performance of polished-diamond prices. The report provides an in-depth...
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Polished Markets
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Jan 19, 2021
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Rapaport
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Diamonds in Demand Among Millennials, Gen Z
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Diamond jewelry is the most desired tangible luxury product among consumers under the age of 40, second only to vacations, according to a survey by the Natural Diamond Council (NDC).The majority of demographic groups picked vacations as the...
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Marketing
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Jan 19, 2021
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Rapaport News
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American Gem Society Announces 2021 Conclave
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The American Gem Society’s (AGS) annual Conclave will return this year, with a live event in Dallas, Texas.The event will take place from September 12 to 14 at the Sheraton Dallas Hotel, AGS said last week....
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Polished Markets
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Jan 19, 2021
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Rapaport News
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Mainland Recovery Can’t Save Luk Fook Sales
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Sales at Luk Fook slid in the third fiscal quarter as a slump in the Hong Kong market outweighed a recovery on the mainland.Group-wide same-store sales — at branches open for at least a year — fell 29% year on year during the...
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Retail
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Jan 19, 2021
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Rapaport News
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Coronavirus Updates: Impact on the Diamond Trade
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The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Jan 19, 2021
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Rapaport News
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Alrosa US Chief to Head Diamonds Do Good
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Diamonds Do Good (DDG) has named Rebecca Foerster as its new president. She will succeed Anna Martin, who is departing after a four-year term.Foerster, who is the president of Alrosa’s US operations, was elected to the position after...
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Polished Markets
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Jan 19, 2021
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Rapaport News
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De Beers and Alrosa Raise Rough Prices
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The two largest diamond miners increased prices at this week’s rough sales as demand improved due to post-holiday restocking and strong trading ahead of the Chinese New Year.De Beers raised prices by an average of 4% to 5% at its first...
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Rough Markets
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Jan 18, 2021
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Joshua Freedman
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Canada Lockdown Weighs on Michael Hill
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Michael Hill’s sales slipped 2.8% in the first half of its fiscal year as a lockdown in Canada outweighed growth in the Australian market.Group revenue decreased to AUD 317.5 million ($243.6 million) during the six months ending...
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Retail
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Jan 18, 2021
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Rapaport News
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Jewelry Industry Fares Well Overall on Racial Justice
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Members of the US jewelry industry are happy overall with the level of racial justice and equality found across the trade, according to a diversity survey Jewelers of America (JA) and National Jeweler conducted.Nearly three-quarters of employers...
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Retail
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Jan 18, 2021
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Rapaport News
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Podcast: Digital or Bust?
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In the first episode of Rapaport’s new podcast series, “Technology and the Diamond Trade,” three experts discuss the importance of building an effective online strategy. Diamond and jewelry companies have raised the stakes when...
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Marketing
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Jan 18, 2021
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Rapaport News
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Karowe Yields First Large Diamond of 2021
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Lucara Diamond Corp. has unearthed a 341-carat white diamond at its Karowe mine in Botswana, the first over 100 carats the deposit has produced this year.The miner recovered the “high-quality,” unbroken stone from...
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Mining
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Jan 17, 2021
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Rapaport News
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NGO Warns Petra Lenders About Abuse Claims
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Rights and Accountability in Development (RAID), a UK-based nonprofit, has written to Petra Diamonds’ major debt holders to raise concerns about alleged human-rights abuses at its Williamson mine in Tanzania.RAID claims to have documented at least seven deaths...
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Mining
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Jan 17, 2021
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Rapaport News
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US Holiday Sales Outstrip Expectations – NRF
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US retail sales increased 8.3% during the recent holiday season, as consumers looked to connect with family and friends during the pandemic, the National Retail Federation (NRF) said.Consumers spent $789.4 billion over the...
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Retail
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Jan 17, 2021
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Rapaport News
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De Beers Cuts Clients, Keeps More Goods in Africa
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De Beers has reduced its sightholder list in a revamp of its supply system, with more goods expected to go to pure-play manufacturers, especially those with Africa-based factories.The new list features fewer diamond dealers than before, as De Beers...
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Rough Markets
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Jan 17, 2021
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Joshua Freedman
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Rapaport Weekly Market Comment
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Polished sentiment positive despite limitations on travel due to Covid-19. Shortages supporting prices. Suppliers anticipate strong 1Q inventory replacement after relatively good US holiday season. Signet Jewelers Nov.-Dec. revenue flat at $1.8B, same-store sales +5.6%,...
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Polished Markets
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Jan 14, 2021
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Rapaport News
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