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BlueRock
New Production Strategy Pays Off for BlueRock
BlueRock Diamonds reported the first annual profit in its history, as sales grew amid increased production and a higher average price, the miner said Tuesday. The improvement was the result of a new initiative the...
Mining Jan 21, 2020 Rapaport News
GIA Matryoshka 150 Centered
GIA Examines Alrosa’s Matryoshka Diamond
Alrosa’s unusual diamond-within-a-diamond formed when material partially dissolved over millions or billions of years, according to a report by the Gemological Institute of America (GIA).The GIA’s team, which examined the stone at its New York lab, found...
Mining Jan 21, 2020 Rapaport News
NRF Holiday Sales
Holiday Sales Rise Amid Positive Sentiment
US retail sales increased 4.1% during the recent holiday season amid steady consumer confidence, the National Retail Federation (NRF) said.Total sales for the November-to-December period were $730.2 billion, according to the NRF,...
Retail Jan 20, 2020 Rapaport News
jewelry tariffs
US Jewelry 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
GIA Susan Jacques
JVC Honors GIA CEO Susan Jacques
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised...
Polished Markets Jan 20, 2020 Rapaport News
Luk Fook Hong Kong store 2016
Luk Fook to Reduce Hong Kong Presence
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending.The retailer expects a “single-digit” decrease in the number of rental...
Retail Jan 20, 2020 Rapaport News
Alrosa
Alrosa Takes First Step Toward Reopening Mir
Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine’s dimensions and the quality...
Mining Jan 20, 2020 Rapaport News
Bonhams
Bonhams Expands Global Jewelry Team
Bonhams has hired Eleonora D’Ottavi in its latest effort to build up its global jewelry business.D’Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems...
Polished Markets 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
GIA
GIA Suspends Sealing Service
The Gemological Institute of America (GIA) has halted its diamond-sealing service after fraudsters tampered with packets and replaced stones with treated ones. A small number of packages were “compromised” after leaving the GIA...
Polished Markets Jan 19, 2020 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Lowers Outlook as Argyle Closure Looms
Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year,...
Mining Jan 19, 2020 Rapaport News
Richemont
Robust Jewelry Sales Boost Richemont
Richemont’s jewelry sales increased 9% in the third fiscal quarter as strong growth in Europe, the US and China offset weakness in Hong Kong.Jewelry proceeds from Cartier, Van Cleef & Arpels and Buccellati rose to EUR 2.16...
Retail Jan 19, 2020 Rapaport News
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Rapaport Weekly Market Comment
Polished trading stable with selective demand. Dealers focused on filling US orders as jewelers begin post-holiday inventory replacement. Mixed results from the season, with record e-commerce sales driving growth. Signet Jewelers Nov.-Dec. revenue...
Polished Markets Jan 16, 2020 Rapaport News
Taj Mahal India
India: Polished Trading Quiet
Polished trading quiet due to holidays in China and India. Demand from local dealers for dossiers under 1 ct. Fewer overseas buyers than usual for this time of year. Rough buying improving but manufacturers...
Research Jan 16, 2020 Rapaport News
Rapaport TradeWire January 16, 2020
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Research Jan 16, 2020 Rapaport
Zales
Signet Raises Forecast Following Strong Holiday
Sales at Signet Jewelers increased during the holiday season, prompting the retailer to raise its full-year outlook.Same-store sales — at branches open for at least a year — increased 1.6% for the nine weeks ending January 4, while...
Retail Jan 16, 2020 Rapaport News
Michael Hill store 150
Holiday Sales Buoy Michael Hill Revenue
Michael Hill’s sales rose 6% in the first half of its fiscal year amid strong growth in holiday purchasing and a successful launch of lab-grown diamond jewelry.Group revenue climbed to AUD 327.3 million ($226.3 million) as higher sales...
Retail Jan 16, 2020 Rapaport News
Antwerp
Belgium Shipments Hit 10-Year Low
Belgium’s diamond trade declined in 2019 as excess supply led to slower demand for rough and polished, the Antwerp World Diamond Centre said Wednesday.Polished exports fell 13% to $9.93 billion, their lowest level since...
Polished Markets Jan 16, 2020 Rapaport News
Sewelo diamond
Louis Vuitton Buys 1,758ct. Diamond from Lucara
Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.The mining company will receive an up-front...
Rough Markets Jan 16, 2020 Rapaport News
GIA Times Square
GIA Advertises Origin Reports in Times Square
The Gemological Institute of America (GIA) has unveiled a video-billboard advertising campaign that encourages consumers to learn about the origin of diamonds.Two ads featuring GIA’s Diamond Origin Report and the 4Cs of diamond quality are...
Polished Markets Jan 15, 2020 Rapaport News
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