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HK Retail 150
Hong Kong Retail Remains Weak in August
Sales of jewelry and other luxury items in Hong Kong slid in August as coronavirus cases surged.Revenue from jewelry, watches, clocks and other valuable gifts plunged 38% year on year to HKD 2.46 billion ($317.5 million)...
Retail Sep 30, 2020 Rapaport News
Gubelin reference collections
Gübelin Taps Machine Learning for Gem Analysis
Gübelin Gem Lab has partnered with the Swiss Center for Electronics and Microtechnology (CSEM) to apply artificial intelligence to its gemstone analysis.Determining a gemstone’s authenticity and country of origin currently relies heavily on human judgment,...
Gemstones Sep 30, 2020 Rapaport News
BlueRock rough 150
BlueRock Set to More Than Double Production
BlueRock Diamonds expects output to more than double in 2021 amid the expansion of its Kareevlei mine in South Africa, it said Tuesday.The company plans to produce between 34,000 and 46,000 carats next year, compared with...
Mining Sep 30, 2020 Rapaport News
New York
US Polished Imports Continue to Slide
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...
Polished Markets Sep 30, 2020 Rapaport News
WOS 150
Watches of Switzerland Buys Analog Shift
Watches of Switzerland Group has acquired pre-owned and vintage timepiece company Analog Shift in an effort to capitalize on the rising popularity of the secondhand market.The brands first collaborated in 2018, when the UK-based watch group offered...
Retail Sep 29, 2020 Rapaport News
Polished diamonds
India’s Asian Star Sees Sales Plunge
Sales and profit plummeted at Indian diamond manufacturer Asian Star in the first fiscal quarter as the coronavirus froze the company’s activities.Revenue slumped 80% year on year to INR 1.64 billion ($22.2 million) for the...
Manufacturing Sep 29, 2020 Rapaport News
Sothebys HK Mag Jewels 150
Sotheby’s to Sell 119ct. Sapphire in Hong Kong
Sotheby’s will sell a 119-carat, royal-blue, unheated Burmese sapphire in Hong Kong next week, the largest such stone the auction house has offered in 20 years. The cushion-shaped, 118.88-carat stone, surrounded by pear-shaped diamonds weighing...
Polished Markets Sep 29, 2020 Rapaport News
Tiffany engagement ring boxes
LVMH Claims Right to Exit Tiffany Deal
LVMH has filed a countersuit against Tiffany & Co., claiming a legal right to pull out of the companies’ tie-up due to Covid-19 and the US jeweler’s “mismanagement” of the crisis.The pandemic constitutes a “material adverse effect” that...
Retail Sep 29, 2020 Rapaport News
Coronavirus
Coronavirus Updates: Impact on the Diamond Trade
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...
Polished Markets Sep 29, 2020 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
Polished prices firm amid shortages and improving holiday orders. Trading restrained due to continued rise in Covid-19 cases. Jewelers preparing 4Q marketing with emphasis on e-commerce strategies to drive growth. Retailers pushing dealers for memo....
Polished Markets Sep 24, 2020 Rapaport News
Rapaport TradeWire September 24, 2020
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Research Sep 24, 2020 Rapaport
Tiffany Sydney flagship
Tiffany to Track Diamonds Down to the Mine
Tiffany & Co. plans to achieve 100% traceability of diamonds and precious metals in the coming years as part of a sustainability pledge it released this week.The retailer aims to track all diamonds weighing 0.18 carats or more to the...
Retail Sep 24, 2020 Rapaport News
De Beers Survey 150
Diamond Sales Set for Resurgence – De Beers
Both male and female US consumers are more likely to purchase and receive diamond jewelry over the next six months than they did during prior coronavirus waves, according to a De Beers survey.Women are also...
Retail Sep 24, 2020 Rapaport News
Polished diamond in loupe
Diamond Grading Gets an International Standard
The International Standards Organization (ISO) has approved its first grading guidelines for polished diamonds in an effort to achieve consistency among laboratories.The new ISO 24106 specifies the terminology, classification and methods that labs...
Polished Markets Sep 24, 2020 Rapaport News
E-commerce
Trend Report: Covid-19 Driving Move to Digital
Las Vegas, September 24, 2020As the diamond industry begins its recovery from the initial impact of Covid-19, its once-lagging progress toward digital is being vastly accelerated. While this will not be a rapid transition...
Polished Markets Sep 24, 2020 John Costello
Jewlery display 150
Jewelers of America Seeks Answers on Diversity
Jewelers of America (JA) and National Jeweler have launched a diversity survey to help comprehend the position of Black Americans in the fine-jewelry industry.The study, which will address hiring practices, inclusion policies and how racial...
Retail Sep 24, 2020 Rapaport News
Dominion diamond sorting 150
Dominion Restarts Rough Sales
Dominion Diamond Mines has sold $46 million worth of rough at its first diamond sale since March, enabling the company to repay some of its debts amid insolvency proceedings.The miner expects to sell approximately $8 million...
Mining Sep 23, 2020 Rapaport News
ZCDC 150
Zimbabwe State Diamond Miner Gets New CEO
Zimbabwe’s state-owned diamond miner has hired Mark Mabhudhu as CEO in an effort to help it achieve its goal of reaching $12 billion in revenue from its mining projects by 2023.Mabhudhu will step down as executive director of the diamond...
Mining Sep 23, 2020 Rapaport News
Rough Diamond Sorting
De Beers Reduces Prices of Smaller Rough
De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News.The reductions for the September sight are...
Rough Markets Sep 23, 2020 Joshua Freedman
Rough sales 150
Rough Sales Pick Up as Market Begins Rebound
Miners have seen “encouraging” signs of recovery in the diamond market as they resume rough sales following an extended period of weak demand.Mountain Province garnered $8.9 million from the sale of 210,661 carats from its Gahcho...
Mining Sep 22, 2020 Rapaport News
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