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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
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
VOICE 2020
VicenzaOro Lifts Sentiment Despite Slow Sales
VicenzaOro staged the first major international jewelry trade fair since before Covid-19 amid strict safety measures, with buyers booking modest orders.Attendance was well below pre-pandemic levels due to the absence of participants...
Polished Markets Sep 21, 2020 David Brough
Sarine Tiffany
LVMH Scraps Tiffany Deal; Tiffany Sues
LVMH has abandoned its acquisition of Tiffany & Co., citing a trade dispute between the US and France and a disagreement over the timing of the deal.Tiffany has sued LVMH in response, claiming that the luxury...
Retail Sep 09, 2020 Rapaport News
Diamonds in a shopping cart
The Rough Market’s Window of Opportunity
The price cuts that took effect in the rough-diamond market last month surprised some, but made perfect sense given the trends in polished trading and the recent earnings reports from De Beers and...
Rough Markets Sep 08, 2020 Rapaport News
James Allen
Signet to Expand James Allen In-Store Format
Signet Jewelers plans to have James Allen e-commerce displays in 80 of its Jared locations this holiday season following a successful trial of the store-in-store concept. “Given positive sales results and strong traffic gains, we plan to expand...
Retail Sep 08, 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
Macys JC Penney
Jewelry Among Best Performers for Macy’s
Jewelry was one of the top-selling categories at Macy’s during the second fiscal quarter, even as overall sales declined at the department-store chain.Group revenue dropped 36% to $3.56 billion in the three months ending August 1, while...
Retail Sep 03, 2020 Rapaport News
Polished Diamonds & Tweezer
Rising Polished Prices Boost Sentiment
RAPAPORT PRESS RELEASE, September 1, 2020, Las Vegas… Diamond markets improved in August as governments eased Covid-19 restrictions and dealers sought to fill specific orders from jewelers. Indian manufacturers increased polished production to fill shortages...
Polished Markets Sep 01, 2020 Rapaport
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
Alethea Inns
GSI Taps New Chief Learning Officer
Gemological Science International (GSI) has appointed Alethea Inns as its chief learning officer, to oversee the grading company’s education programs. “Alethea brings valuable expertise and extensive knowledge to her role, which will contribute...
Research Aug 23, 2020 Rapaport News
tiffany store
Tiffany Sees Delay in Revamp of Flagship
Tiffany & Co. has postponed the unveiling of its new-look flagship store in New York due to the impact of Covid-19 on activity in the city. “Due to the temporary halt of all non-essential construction activity in New York...
Retail Aug 23, 2020 Rapaport News
De Beers rough
De Beers Cuts Prices at August Sight
De Beers has reduced prices of rough larger than 1 carat ahead of next week’s sight amid a gradual improvement in demand and shortages in certain categories, sources said. The reductions are around 6% to 8%, according to sightholders and...
Rough Markets Aug 20, 2020 Joshua Freedman
Tiffany diamond engagement ring
Tiffany to Share Full Provenance of Its Diamonds
Tiffany & Co. will give consumers full details of each diamond’s route from mine to jewelry, encompassing the rough’s origin as well as the locations of cutting, grading and setting.Beginning in October, the US retailer will share...
Retail Aug 19, 2020 Rapaport News
SK lab grown diamonds
SK Jewellery Sees Profit Slump
Singapore-based SK Jewellery Group reported a sharp drop in earnings during the first half of 2020 as store closures and other restrictions implemented during the coronavirus pandemic impacted sales. Net profit fell 81% to SGD 514,000...
Retail Aug 18, 2020 Rapaport News
Birks Group
Birks Could Face Delisting After Losses
The New York Stock Exchange (NYSE) has told Birks Group it is no longer compliant with its listing rules, after the Canadian jeweler incurred losses for four consecutive fiscal years.NYSE American, the exchange’s...
Retail Aug 17, 2020 Rapaport News
IGI Collection
Podcast: Rise in Grading Activity Signals Recovery
The numberof jewelry pieces being sent to the International Gemological Institute (IGI) forgrading and authentication continues to increase, indicating a faster-than-expected revival among jewelers, according to CEO Roland Lorie.“I think that the problems come...
Polished Markets Aug 17, 2020 Rapaport News
Shelby Sterrett Fana
Jewelry Brand Fana Names Sales Specialists
Fana, a New York-based bridal and fine-jewelry brand, has appointed three senior staff members to shore up its sales operations and interactions with retail partners.Shelby Sterrett, who joined the company in February, will lead...
Retail Aug 13, 2020 Rapaport News
Forevermark diamond ring
Diamonds High on Holiday Gift Lists
Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
Retail Aug 11, 2020 Rapaport News
Rich Shatz
Estate Jewelry Proves Robust During Covid-19
The estate-jewelry sector has fared well during the Covid-19 crisis as customers have continued to show interest in designer goods, dealer Rick Shatz told the Jewelry Connoisseur Podcast.Higher-end clients — on whom the pandemic has...
Retail Aug 06, 2020 Rapaport News
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