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Manhattan coronavirus
US Polished Imports Down 66% in March
US polished-diamond imports fell in March to their lowest level since December 2002 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
Melee diamonds at De Beers Group Industry Services
India’s Cutting Sector Faces Decade-Low Revenues
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion,...
Polished Markets Apr 28, 2020 Rapaport News
Times Square
US Polished Imports Show Pre-Virus Slump
US imports of polished diamonds slid 26% to $2.43 billion in the first two months of 2020, even before the coronavirus had started to have a major impact on the economy. February imports fell 12% to $1.28 billion. The...
Polished Markets Apr 27, 2020 Rapaport News
Tutti Frutti
Sotheby’s to Sell ‘Tutti Frutti’ Cartier Bracelet
A gem-set, diamond and enamel tutti frutti bracelet by Cartier is to go under the hammer in Sotheby’s latest online sale.The piece, which has a high estimate of $800,000, will be sold as a single lot by Sotheby’s New York in a dedicated remote...
Polished Markets Apr 26, 2020 Rapaport News
Emanuel Gordon
Diamond Dealer Manny Gordon Dies at 79
New York diamond dealer Emanuel “Manny” Gordon died on April 7 aged 79, after contracting COVID-19.The industry veteran, who founded the eponymous Manny Gordon Trading in 1984, trained and subsequently worked with his...
Polished Markets Apr 21, 2020 Rapaport News
Rolex display window
March Shutdown Hits Swiss Watch Exports
Swiss watch exports slumped in March amid continued market pressures resulting from the coronavirus pandemic.Shipments slid 22% to CHF 1.36 billion ($1.4 billion) for the month, with most markets declining significantly, the...
Watches Apr 21, 2020 Rapaport News
Erich Jacobs
JBT Amends Credit Reports to Account for COVID-19
The Jewelers Board of Trade (JBT) will issue two parallel credit ratings for companies during the current crisis to reflect the impact of the shutdown on cash flow.The organization’s credit reports, which score jewelers’...
Retail Apr 07, 2020 Rapaport News
Closed sign
How Three Jewelers Are Coping During COVID-19
Can my company survive this crisis? How long will the shutdown last? Should I lay my workers off? Should I apply for government support? The coronavirus outbreak has left US jewelers with a string of questions. There...
Retail Apr 07, 2020 Joshua Freedman
Namdeb employee sorting through rough diamonds.
De Beers Cancels March-April Sight
De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus.Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment...
Rough Markets Mar 30, 2020 Rapaport News
Kay Jewelers store Bethesda
Signet Closing All Stores in US, Canada
Signet Jewelers is shutting all its stores in North America due to the coronavirus, a company spokesperson confirmed with Rapaport News.The temporary closure goes into effect at the close of business on Sunday, the spokesperson said. It applies...
Retail Mar 22, 2020 Joshua Freedman
De Beers Botswana
De Beers Sight Still On Despite Travel Ban
De Beers’ upcoming sight in Botswana will still take place despite the country’s ban on arrivals from the US, China, India and Belgium, the miner has confirmed.“While this is an extraordinary situation and COVID-19 has...
Rough Markets Mar 18, 2020 Joshua Freedman
JCK Las Vegas 2019
JCK Las Vegas to Go Ahead
The JCK Las Vegas and Luxury shows will take place as planned, their organizer has confirmed, allaying fears the coronavirus would jeopardize the events.“At this time of global concern, Reed Exhibitions and...
Polished Markets Mar 04, 2020 Rapaport News
Macys Rancho Cucamonga CA
Macy’s Notes Solid Quarter for Jewelry
Jewelry was among the best-performing categories at Macy’s during the fourth fiscal quarter, even as overall sales declined at the department-store chain.Group revenue dropped 1.4% year on year to $8.34 billion in the three months ending...
Retail Mar 03, 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
Store in NY diamond district
US Trade Slowdown Continues
US diamond shipments fell in November, according to government data. Polished imports declined19% as lower volumes outweighed an increase in the average price. US Trade Data for November 2019 Nov 2019 Year-on-year change Polished imports $1,382 -19%...
Polished Markets Jan 13, 2020 Rapaport News
Signet Kay
Signet Takes Hit Following Wells Fargo Report
Signet Jewelers is losing market share to competitors and faces risks from its credit operations, according to an analyst’s report that sent the retailer’s stock tumbling.Ike Boruchow, senior analyst at Wells Fargo, raised concerns that...
Retail Jan 08, 2020 Rapaport News
Shopping mall marlborough ma
US Consumer Spending Unlikely to Grow Soon
Consumer confidence fell slightly in December, The Conference Board reported, forecasting that spending would not improve significantly in early 2020.The business-data provider’s Consumer Confidence Index decreased marginally in December to 126.5 from 126.8 in November,...
Retail Jan 06, 2020 Rapaport News
NY
US Polished Imports Decline
The USdiamond trade continued to slow in October. Polished imports fell 38% to $1.45billion for the month, marking the steepest year-on-year drop since 2009 andthe seventh consecutive month of decline, according to Rapaport records. Polished...
Polished Markets Dec 25, 2019 Rapaport News
TAG Heuer
Hong Kong Slump Disrupts Swiss Watches
Swiss watch exports fell in November as orders from HongKong continued to slow. Shipments to all countries declined 3.5% to CHF 1.99 billion($2.03 billion) in November, the Federation of the Swiss Watch Industryreported last week. That mainly...
Watches Dec 22, 2019 Rapaport News
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