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Oded Mansori
HB Antwerp Aims to Shake Up Large-Stone Market
It’s not often a newcomer sweeps in to buy the largest diamond available on the market. Such deals are usually reserved for high-end jewelers such as Graff, Moussaieff, Harry Winston, or even large-scale retailers like Chow...
Manufacturing Sep 17, 2020 Joshua Freedman
Petra blue diamonds 150
Petra Recovers High-Quality Blue Diamonds
Petra Diamonds has unearthed five high-quality, blue, type IIb diamonds from its Cullinan mine in South Africa in the span of one week, it said Wednesday.The stones, which weigh 25.75, 21.25, 17.57, 11.42 and...
Mining Sep 16, 2020 Rapaport News
Gemfields rubies 150
Gemfields Warns of $57M Loss
Gemfields expects to suffer a loss of $56.7 million for the first half of the year amid the cancellation of most of its emerald and ruby auctions.The loss for the six months ending June 30 compares with...
Mining Sep 15, 2020 Rapaport News
Yoram Dvash
WFDB Elects Yoram Dvash as President
The World Federation of Diamond Bourses (WFDB) has voted in Yoram Dvash as its president for a three-year term, the organization said Tuesday.Dvash, who holds the same position at the Israel Diamond Exchange, had been...
Polished Markets Sep 15, 2020 Rapaport News
Sheltering in place 150
Gemstone Dealers Adapt to New Reality
The novel coronavirus has put the brakes on every aspect of gem trading around the globe, and the limit on international travel is one of the most notable setbacks. Miners, geologists and suppliers usually must...
Mining Sep 14, 2020 Diana Jarrett
De Beers rough 150
De Beers August Rough Sales Rise to $320M
Rough-diamond sales began to rebound at De Beers’ August sight as demand picked up ahead of the holiday season and governments reduced Covid-19 restrictions.“Diamond markets showed some continued improvement throughout August and September as Covid-19 restrictions continued...
Mining Sep 13, 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 13, 2020 Rapaport News
Antwerp
Belgium Exports Rise as Demand Returns
Belgium’s polished-diamond exports grew for the first time in 16 months in August, as demand rose after a long period of inactivity.“There’s definitely demand and shortages in certain categories. People are buying again,” Karen Rentmeesters, senior communications...
Polished Markets Sep 09, 2020 Joshua Freedman
RetailRap Sept 150
How to Redesign Stores so Customers Feel Safe
Getting customers to shop post-lockdown has been difficult given financial constraints, and the fear of catching Covid-19 while out has only added to that challenge. While customers prefer shopping in physical stores, they will...
Retail Sep 07, 2020 Leah Meirovich
Gem Diamonds
Gem Diamonds Incurs First-Half Loss
Gem Diamonds fell into the red in the first half of 2020 as the coronavirus crisis froze the rough market and restricted the company’s sales.The net loss of $113,000 — compared with a $9.7 million profit...
Mining Sep 06, 2020 Rapaport News
Signet Kay Florida store shut during Covid-19
Signet Sales Better Than Expected
Signet Jewelers’ revenue and profit beat expectations in the second fiscal quarter as stores unlocked their doors and the retailer upgraded its digital capabilities.“Sales improved sequentially throughout the second quarter as we reopened stores...
Retail Sep 03, 2020 Rapaport News
De Beers rough and polished
Rough-Market Momentum Set to Continue
The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
Rough Markets Sep 03, 2020 Joshua Freedman
HK Sept 2019 show
Hong Kong Show to Go Virtual
The Hong Kong show usually scheduled for September will take place in an online-only format this year due to the coronavirus.Jewellery & Gem World Hong Kong, formerly the September Hong Kong Jewellery &...
Polished Markets Sep 01, 2020 Rapaport News
Hong Kong Retail 150
Hong Kong Retail Continues to Slide in July
Sales of jewelry and other luxury items in Hong Kong plunged in July amid a continued lack of tourism and a resurgence in coronavirus cases.Revenue from jewelry, watches, clocks and other valuable gifts slid 54% year on year...
Retail Sep 01, 2020 Rapaport News
Chow Sang Sang store 150
Chow Sang Sang Turns Focus to China
Jeweler Chow Sang Sang will open more than 40 new stores in China by the end of the year, while closing a number of locations in Hong Kong.“Despite all the uncertainties brought on by the pandemic and geopolitical strife,...
Retail Aug 30, 2020 Rapaport News
Tiffany
Tiffany Sees Glimmer of Hope as Profit Slumps
Tiffany & Co. reported a sharp decline in profit in the second fiscal quarter but noted sales have returned to pre-pandemic levels in August. “Our global sales trends have strengthened in August, with preliminary month-to-date worldwide...
Retail Aug 27, 2020 Rapaport News
Rough diamond
Indian E-Tax ‘Doesn’t Apply to Rough Sales’
Rough trading does not incur India’s new e-commerce tax, the country’s Gem and Jewellery Export Promotion Council (GJEPC) confirmed after meeting with finance minister Nirmala Sitharaman.India introduced the equalization levy...
Financial-Legal Aug 27, 2020 Rapaport News
JCK Las Vegas 2019
How JCK Virtual Compared with the Real Deal
The first JCK Virtual show, which ran from August 11 to 14, was a chance to test a new exhibition model that, if successful, could help companies do business during the coronavirus era. The event was free...
Polished Markets Aug 24, 2020 Joshua Freedman
De Beers Insight 150
Diamonds Can Gain from Travel Industry Woes
Discretionary spending on jewelry could increase as US consumers reallocate funds they would have used on travel, dining and other experiences prior to Covid-19, according to a De Beers report.“As some consumers find themselves with additional discretionary income...
Retail Aug 20, 2020 Rapaport News
Michael Hill store 150
Shutdowns Send Michael Hill’s Profit Sliding
Michael Hill’s earnings slumped 81% in the last fiscal year amid the temporary closure of most of its 290 stores in the second half.The Australia-based jeweler reported profit of AUD 3.1 million ($2.3 million) for...
Retail Aug 19, 2020 Rapaport News
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