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A Titan store in Deoghar, Jharkhand.
Titan Sales Slump as Lockdown Hits India
Revenue at Titan Company dropped sharply in the past two months during India’s coronavirus lockdown, but the jewelry retailer noted encouraging signs as restrictions eased.Jewelry sales fell more than 80% year on year in May...
Retail Jul 09, 2020 Rapaport News
Back in business
Jewelers See Positive Signs as Business Restarts
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...
Retail Jul 02, 2020 Leah Meirovich
Podcast June 2020
Podcast: How Covid-19 Will Transform Stores
The coronavirus has forced retailers into new ways of doing business. In this webinar, Rapaport Editor in Chief Sonia Esther Soltani and Elle Hill, CEO of jewelry consultancy firm Hill & Co., discuss the...
Retail Jun 14, 2020 Rapaport News
Chow Tai Fook
Chow Tai Fook Sees Dim Hong Kong Outlook
Chow Tai Fook expects sales in Hong Kong to remain weak after reporting a sharp slump in revenue and profit due to the coronavirus. Consumer demand was slow in the municipality in April and May as tourists stayed...
Retail Jun 11, 2020 Rapaport News
Tiffany China  store 150
Tiffany Sees ‘Robust Recovery’ in China
Tiffany & Co. reported a strong rebound in its operations in mainland China during April and May, after Covid-19 lockdowns resulted in heavy first-quarter losses for the jeweler. “While sales in key markets like the...
Retail Jun 09, 2020 Rapaport News
Gabrielle Grazi
Natural Diamond Council Hires Retail VP
Gabrielle Grazi has joined the Natural Diamond Council (NDC) as its vice president for retail following seven years at Signet Jewelers.The newly created role involves establishing the NDC as the natural-diamond authority among...
Marketing Jun 08, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
Rough diamond in Kimberlite
De Beers Offers 100% Deferrals at May Sight
De Beers is allowing rough-diamond customers to skip all purchases at next week’s sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed...
Rough Markets Apr 30, 2020 Joshua Freedman
Luk Fook store MixC World in Shenzhen Bay
Luk Fook Hit by COVID-19 Closures
Luk Fook’s same-store sales dropped 57% in the fourth fiscal quarter amid extensive retail closures for the first two months of the year and sluggish footfall in March.The jeweler saw a 60% year-on-year slide...
Retail Apr 22, 2020 Rapaport News
Store in NY diamond district
Jewelry Trade Shrinks 4% in First Quarter
The number of jewelry businesses operating in the US fell 4.2% year on year to 24,280 in the first quarter as exits from the industry more than doubled, according to data from the Jewelers Board of Trade (JBT).The number...
Financial-Legal Apr 20, 2020 Rapaport News
Closed sign
How Three Jewelers Are Coping During COVID-19
Can my company survive this crisis? How long will the shutdown last? Should I lay my workers off? Should I apply for government support? The coronavirus outbreak has left US jewelers with a string of questions. There...
Retail Apr 07, 2020 Joshua Freedman
Hong Kong retail coronavirus
Hong Kong Retail Sales Plummet 79% in February
Sales of jewelry and other hard-luxury items in Hong Kong slumped to an all-time low in February due to the coronavirus, according to government data.Revenues from jewelry, watches, clocks and other valuable gifts dropped 79% year on year...
Retail Mar 31, 2020 Rapaport News
Gucci credit Shutterstock
China Showing Positive Signs, Says Kering
Kering, the owner of Gucci, Saint Laurent and Boucheron, said demand in China was starting to recover, even as the effects of the coronavirus intensified in other locations.“The group is observing encouraging signs in mainland China, where the...
Retail Mar 22, 2020 Rapaport News
Chow Tai Fook Hong Kong store
Coronavirus Pummels Chow Tai Fook’s Sales
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42%in mainland China in the first two months of the year as stores shut for muchof the period.“In response to the measures of local...
Retail Mar 11, 2020 Rapaport News
Macys Rancho Cucamonga CA
Macy’s Notes Solid Quarter for Jewelry
Jewelry was among the best-performing categories at Macy’s during the fourth fiscal quarter, even as overall sales declined at the department-store chain.Group revenue dropped 1.4% year on year to $8.34 billion in the three months ending...
Retail Mar 03, 2020 Rapaport News
Michael Hill store
Online Growth Boosts Michael Hill Sales
Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler’s first fiscal half, as investments in digital platforms paid off.Same-store sales — at retail locations open for at least a year...
Retail Feb 27, 2020 Rapaport News
jewelry tariffs
US Trade Continues to Downsize
The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data...
Retail Jan 20, 2020 Rapaport News
Enzo
Chow Tai Fook Buys Chinese Retailer Enzo
Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets “modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive...
Retail Jan 19, 2020 Rapaport News
HK protest
Chow Tai Fook to Shut Stores in Hong Kong
Chow Tai Fook intends to close up to 15 stores in Hong Kong as street protests and a tourism slowdown have hit sales.Leases on more than 40 of the jeweler’s 91 retail locations in the municipality are due to expire during the fiscal...
Retail Jan 14, 2020 Rapaport News
Alexander Laut earrings set with untreated aquamar
Jewelry Connoisseur: Your Source for Essential Jewelry Updates
RAPAPORT PRESS RELEASE, January 9, 2020, Las Vegas… Jewelry Connoisseur by Rapaport is launching a weekly newsletter to help you keep up to date with all the latest news and trends in the diamond and jewelry sector. Whether...
Retail Jan 09, 2020 Sonia Esther Soltani
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