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James Avery Picks Non-Family Member as CEO
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James Avery Artisan Jewelry has named John McCullough as CEO— the first non-family member to lead the Texas-based retailer. McCullough, who was previously chief operating officer (COO),succeeds Chris Avery, who has been...
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Mining
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Sep 10, 2019
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Rapaport News
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Alrosa Falls Victim to Changing Retail Practices
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Retailers’ attempts to maintain low diamond inventories are hurtingdemand across the trade, Alrosa warned after reporting its lowest quarterlysales since 2015. The Russian miner’s sales slumped 26% to $807 million in thesecond quarter...
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Mining
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Jul 18, 2019
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Rapaport News
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Michael Hill to Repay Workers up to $17M
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Michael Hill will hand out between AUD 10 million ($7million) and AUD 25 million (just under $17.5 million) to compensate retail employeesin Australia, after discovering it had been underpaying them. The jeweler had been...
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Retail
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Jul 11, 2019
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Rapaport News
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Gucci Forays into High-End Jewelry
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Luxury fashion house Gucci has made a move into high jewelrywith the inauguration of its first boutique and a collection by creativedirector Alessandro Michele. The store, which is dedicated exclusively to jewelry,opened on July 2 in Paris’s historic Place...
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Retail
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Jul 07, 2019
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Rapaport News
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Net-a-Porter to Debut VIP-Only Site
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High-end online retailer Net-a-Porter isset to launch an invitation-only digital platform, selling exclusive jewelry toits most loyal members. From later this month, customers whohave been awarded EIP (Extremely Important People) status by Net-a-Porter...
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Retail
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Jul 04, 2019
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Rapaport News
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Protests Dent Hong Kong Retail Outlook
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Retail sales in Hong Kongare set to fall by 5% in 2019, with the decline expected to be even sharper inthe luxury-goods market, which includes jewelry. The new estimate, publishedlast week by PricewaterhouseCoopers (PwC), is a downgrade on its previousforecast. The...
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Retail
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Jul 03, 2019
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Rapaport News
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Signet Revenue Drops in First Quarter
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Signet Jewelers has lowered its sales outlook for the restof the year, after revenue fell in the first fiscal quarter. Total sales declined 3.3% to $1.43 billion in the threemonths ending May 4, the...
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Retail
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Jun 06, 2019
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Rapaport News
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Alrosa to Sell Directly to Consumers
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Alrosa is launching a source-of-origin program that will enable dealers and consumers to buy polished diamonds with detailed provenance information.The Russian miner will create an “electronic passport” for each diamond on a new website, diamonds.alrosa.ru, presenting...
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Retail
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Jun 04, 2019
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Rapaport News
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Signet Enters Lab-Grown Market
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James Allen has launched sales of lab-grown diamonds,marking parent company Signet Jewelers’ entry into the synthetics market. The e-commerce business, which Signet acquired in 2017,now gives consumers the option of “earth-created” or “lab-created” stones...
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Retail
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May 05, 2019
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Rapaport News
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Webinar: The Way Forward in a Slow Market
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What’s the current state of the rough, polished and retail markets?Avi Krawitz, Rapaport’s Senior Analyst and News Editor, analyzes the key trendsin this hour-long webinar. Click here for more.
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Polished Markets
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Apr 18, 2019
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Avi Krawitz
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Pandora Chairman Quits Amid Reshuffle
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Pandora chairman Peder Tuborgh is set to leave the Danishjewelry maker. This comes just one month after the company appointed veteranconsumer-brand executive Alexander Lacik as its new CEO. These significant leadership changes form...
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Retail
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Mar 14, 2019
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Rapaport News
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Time for the Trade to Reengage with Bridal
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There’s a caveat that Stephen Lussier emphasizes when marketing diamonds to millennials as a symbol of love. The industry needs to recognize that love may not entail the formality of marriage, the De Beers head of marketing stressed in an interview...
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Marketing
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Mar 13, 2019
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Avi Krawitz
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De Beers: No Need to Flag Synthetics Treatments
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De Beers claims it doesn’t need to disclose treatments to its lab-grown diamonds, placing itself at odds with many synthetics traders pushing for full transparency in the sector.The company’s synthetics brand, Lightbox, applies post-growth enhancements to its...
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Retail
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Feb 26, 2019
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Joshua Freedman
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Podcast: The New York View
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Rapaport News caught up with Reuven Kaufman, president of New York’s Diamond Dealers Club (DDC), to gauge the mood in the US trade at the start of 2019.Retailers had a good holiday season, but have been wary about...
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Polished Markets
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Jan 31, 2019
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Rapaport News
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Podcast: Good Holiday, Bad Holiday
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The first Rapaport Diamond Podcast Short looks at theholiday season just gone, following a mixed bag of sales results from themajors.Signet Jewelers and Tiffany & Co. both reported a dropin revenues for the crucial...
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Retail
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Jan 22, 2019
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Rapaport News
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GEM Awards Honor Ex-Rolex USA Chief
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Jewelers of America (JA) honored retailers, designers andjournalists at Friday’s GEM Awards in New York. Stewart Wicht, whoretired as CEO of Rolex Watch USA in December, picked up the LifetimeAchievement accolade in recognition of his contribution to the industry duringhis...
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Retail
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Jan 16, 2019
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Rapaport News
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Fine Jewelry a Bright Spot for Macy’s
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Macy’s noted strong sales of higher-end jewelry during theholiday season, though lower-priced items were weaker. Fine jewelry was one of seven categories the retailerhighlighted for their positive performances during November and December.However,...
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Retail
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Jan 10, 2019
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Rapaport News
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Diamond Foundry Hikes Output, Prices
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Diamond Foundry is increasing its production more than tenfoldand raising wholesale prices 15%, as it predicts an uptick in demand forlab-grown diamonds. The company believes there is a shortage ofsynthetic-diamond supply while consumer interest in the product is rising....
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Polished Markets
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Jan 09, 2019
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Joshua Freedman
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E-Commerce Site Zoara Closes
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Dalumi Group has shut down Zoara, its jewelry retail platform,the Israel-based diamond company said.The e-commerce page stopped accepting purchases on January 1,and will complete and ship remaining orders in the next few...
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Retail
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Jan 06, 2019
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Rapaport News
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Titan Records Growth over Diwali Season
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Same-store jewelry sales at Titan Company grew during the thirdfiscal quarter, signaling strong demand for branded jewelry during the Diwali and Dussehra festivalperiod, the Indian retailer said. “Customer demand was buoyant...
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Retail
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Jan 06, 2019
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Rapaport News
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