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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
Ana de Armas NDC
Bond Actress Revealed as New Face of Diamonds
The Natural Diamond Council (NDC) has unveiled actress Ana de Armas as the star of its first celebrity campaign, which will debut at next week’s Emmy Awards.De Armas recently received a Golden Globe nomination for...
Marketing Sep 16, 2020 Rapaport News
Bharat Diamond Bourse
India Trading Still Down, but Decline Eases
India’s polished-diamond exports fell 26% year on year to $1.22 billion in August, a gentler decline than in previous months, as overseas jewelry demand improved, the country’s Gem & Jewellery Export Promotion Council (GJEPC) reported.“We have...
Polished Markets Sep 15, 2020 Rapaport News
GIA podcast Aug 2020
GIA on Covid-19, Automation and Synthetics
The Gemological Institute of America is pressing ahead with projects that may transform diamond grading, CEO Susan Jacques said in an exclusive interview on the Rapaport Diamond Podcast.Despite the pandemic, the institute announced a collaboration with...
Polished Markets Sep 10, 2020 Joshua Freedman
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
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
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
Manhattan Brooklyn Bridge
US Imports Drop – but at Slower Rate
US polished-diamond imports fell again in June, but the rate of decline eased as the economy reopened following lockdowns. Shipments were down 34% to $822 million for the month, according to the Commerce Department, compared with...
Retail Aug 17, 2020 Rapaport News
Retail shopper
US Retail Sales Increase in July
US retail sales recorded their third consecutive rise in July, government data showed, as stores gradually resumed operations and devised ways of serving customers during the pandemic.Revenues of $536 billion for the month were 1.2%...
Retail Aug 16, 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
Watchmaker
Watch Exports to Hong Kong and US Still Weak
Swiss watch exports dropped heavily in June as continued slowdowns in Hong Kong and the US outweighed a recovery in China.Total shipments fell 35% year on year to CHF 1.13 billion ($1.21 billion), the fourth consecutive monthly decline,...
Watches Jul 21, 2020 Rapaport News
New York 47th Street.
US Import Slump Continues in May
US polished-diamond imports dropped heavily again in May, according to Commerce Department data, with Covid-19 shutting the global market and devastating demand. May is usually the strongest month for shipments as exhibitors send goods to the...
Polished Markets Jul 13, 2020 Rapaport News
Back in business
Jewelers See Positive Signs as Business Restarts
Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis...
Retail Jul 02, 2020 Leah Meirovich
GIA Scholarships
GIA to Unlock New York Lab
The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.“As restrictions are lifted and the global gem and jewelry industry begins to recover,...
Polished Markets Jun 25, 2020 Rapaport News
NYC from above
Covid-19 Obliterates US Polished Shipments
US polished-diamond imports dropped heavily in April to their lowest level since Rapaport records began, as the coronavirus shut global markets. Rough trading was close to zero during the month, according to data from the Commerce...
Polished Markets Jun 23, 2020 Rapaport News
Diamond jewelry
JVC Releases Guide to FTC Rules
The Jewelers Vigilance Committee (JVC) has published a book containing advice on how to interpret the US Federal Trade Commission (FTC) jewelry guidelines.Understanding the FTC Guidelines deciphers the complex rules governing the manufacture, sale,...
Financial-Legal Jun 18, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
Manhattan coronavirus
US Polished Imports Down 61% in March
US polished-diamond imports fell in March to their lowest level since April 2009 as the coronavirus hit global trading. The month saw the 12th consecutive year-on-year decline, according to Rapaport archives based on data from the...
Polished Markets May 19, 2020 Rapaport News
India Bharat Diamond Bourse
Exports Restart at India’s Bharat Diamond Bourse
Mumbai has dispatched its first diamond exports since India’s lockdown started, after the regional government allowed limited activities to resume at the city’s Bharat Diamond Bourse (BDB).The first shipments took place on Tuesday,...
Polished Markets May 14, 2020 Joshua Freedman
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