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Students learning to sort rough diamonds in De Bee
De Beers Delays New Sightholder Contract
De Beers has extended its current sightholder contract by three months after the Covid-19 pandemic disrupted the renewal process.The supply agreement, originally due to expire on December 31, will remain in place until March 31,...
Rough Markets Oct 26, 2020 Joshua Freedman
What De Beers and Alrosa Clients Really Want
Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished...
Rough Markets Aug 13, 2020 Joshua Freedman
Namdeb sorter
De Beers Suspends Applications for Sight Contracts
De Beers has paused the application process for its new sightholder contract due to the impact of COVID-19 on its clients’ business operations.“We’ve...been looking at ways that we might lighten the load on our customers and give...
Rough Markets May 05, 2020 Rapaport News
jewelry tariffs
US 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
Weak Demand Weighs on De Beers Sales
De Beers’ sales fell for the second consecutive month, ashigh rough prices and slim midstream profits softened demand from buyers,sightholders reported. Sales of $490 million in February were 13% below ayear ago amid...
Rough Markets Mar 06, 2019 Joshua Freedman
Jewelry 150
133 Jewelers Join Sector in First Half
The number of new jewelry businesses in the US jumped 87% inthe first half of the year, even as the industry continued to shrink overall. A total of 133 companies entered the sector in the sixmonths to June 30, compared...
Polished Markets Jul 19, 2018 Rapaport News
De Beers 150
De Beers Raises Prices at $520M Sale
De Beers’ April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told...
Rough Markets Apr 17, 2018 Joshua Freedman
Rapaport Partners with Carat+ 2018 150
Rapaport Partners with Carat+ 2018
RAPAPORT PRESS RELEASE, February 28, 2018, New York… Rapaporthas signed an agreement to be the official media partner for the Carat+ tradeshow taking place in Antwerp this May.As part of the deal, Rapaport Magazineand its...
Polished Markets Feb 28, 2018 Rapaport
Botswana Rough Exports Fall in 2017 150
Botswana’s Rough Exports Drop
Botswana’s rough-diamond exports declined 14% to $3.48 billion in 2017, according to data released by the Bank of Botswana. After rising slightly in the first quarter, exports dropped18% year on year in the second quarter, slid 21% in the...
Mining Jan 31, 2018 Rapaport News
US Jewelry Store Count Steadying 150
More Than 1,000 Jewelry Businesses Shut Last Year
The US jewelry industry continued to downsize in 2017, with 26,031 businesses operating at the end of the year, down 4% from the previous year, the Jewelers Board of Trade (JBT) reported. Some 1,022 jewelry companies closed...
Retail Jan 21, 2018 Rapaport News
Sarine Clarity
Polished Stocks Too Heavy for Sarine
Sarine Technologies' sales slid in the third quarter as abuildup of polished inventories resulted in manufacturers investing less in their operations. Revenue fell 35% to $11.3 million in the three months endingSeptember 30, reported the Israel-based company,...
Technology Nov 14, 2017 Rapaport News
Asian Star Sales Jump in Fiscal 2Q
Asian Star reported revenue rose 28 percent in the second fiscalquarter, helping the Mumbai-based diamond manufacturer to record a larger profit.Net sales grew to $124.2 million (INR 8.38 billion) in thethree months that ended September 30,...
Manufacturing Dec 14, 2016 Rapaport News
India Arch
Asian Star Revenue Lifted by Steady Diamond Sales
Asian Star’s revenue increased in the first fiscal quarter, theMumbai-based diamond manufacturer reported. Profit, however, declined.Total sales on a consolidated basis grew 2.7 percent to$127.6 million (INR 8.55 billion) in the three months that...
Manufacturing Sep 20, 2016 Rapaport News
Kiran Gems
Kiran Gems Expands With New Surat Factory
Kiran Gems openeda new factory in Surat in response to the company’s growth and increaseddemand.The 200,000 square-foot facility has capacity for 10,000diamond cutters. It offers advanced planning and cutting technology for allkinds of rough diamonds,...
Manufacturing Aug 07, 2016 Rapaport News
Shrenuj Botswana Diamond Factory
Shrenuj Seeks Legal Opinion Over Bank Action
Shrenuj & Co., a Mumbai-based diamond and jewelrymanufacturer, is challenging an order by India’s second-largest bank to seizeits assets and restrict the travel of its promoters.ICICI Bank on May 16 appointed a receiver for Shrenuj FarEast Limited, the company’s...
Manufacturing Jul 03, 2016 Rapaport News
Asian Star logo
Asian Star’s Profit Slides Despite Sales Growth
Asian Star, a Mumbai-based diamond manufacturer, reportedprofit dropped in the past fiscal year even as revenue rose.Net profit declined 11 percent to $10.7 million (INR 725.5 million)even as sales edged up 2.5 percent to $488.7 million in the 12 months...
Manufacturing May 23, 2016 Rapaport News
Standard Chartered
Standard Chartered Seeks to Curb $2B Diamond Exposure
Standard Chartered is demanding its clients in the Indianand Belgian diamond trade get more loan protection in a bid to tighten standardsafter lending about $2 billion to the industry, Bloomberg reported.TheLondon-based bank, one of the biggest lenders to the...
Financial-Legal Mar 24, 2016 Rapaport News
Shrenuj Swings to Fiscal 3Q Loss as Sales Slump 34%
India-based diamond manufacturer Shrenuj & Companyreported revenue slumped 34 percent year on year to $182.8 million (INR 12.34billion) in the three months that ended December 31. The company swung to aloss of $55,103 from a profit of $3 million...
Manufacturing Mar 02, 2016 Rapaport News
Stuller Adds Lab-Grown Diamonds to Product List
Jewelry manufacturer Stuller addedlab-grown diamonds to its repertoire of gems used in its products.Itssynthetic stones will be housed in a separate vault from its natural diamondsand stored and shipped in a distinct blue acrylic box and always handedseparately,...
Technology Mar 01, 2016 Rapaport News
TracTech Markets RFID Inventory System
Tractech System’s radio frequency identification (RFID) inventory system, which has been developed for wholesalers and dealers is now on the market. The company plans to eventually develop the product suite for the retail...
Research Aug 23, 2011 Ricci Dipshan
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