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Berkshire Hathaway
Retail Revenue Rises at Buffett Conglomerate
Revenue from the retail division of Warren Buffett’s Berkshire Hathaway rose 2.5% to $16 billion in 2019, the company reported Saturday.The increase for the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and...
Retail Feb 24, 2020 Rapaport News
Lucara
Lucara Revenue Beats Expectations in 2019
Lucara Diamond Corp.’s sales rose in 2019 as the miner sold a higher volume of rough from its Karowe mine in Botswana.Proceeds for the year increased 9% to $192.5 million, exceeding the company’s $170 million to $180 million...
Mining Feb 24, 2020 Rapaport News
The Knot
Couples Shelling Out More on Engagement Rings
US couples spent 4% more on engagement rings in 2019, according to a survey by wedding resource The Knot.Consumers that took part in the study paid approximately $5,900 on average for their engagement ring in 2019, versus $5,680 the previous...
Polished Markets Feb 23, 2020 Rapaport News
Ellen Joncheere HRD Antwerp
HRD Antwerp Not for Sale (for Now)
The Antwerp World Diamond Centre (AWDC) has postponed the sale of HRD Antwerp, and will instead embark on a turnaround strategy for the laboratory.“The [AWDC] board of directors and standing committee decided not to sell...
Polished Markets Feb 23, 2020 Joshua Freedman
Alrosa
New Alrosa Mine Yields 17ct. Yellow
Alrosa has recovered a 17.44-carat, bright-yellow, gem-quality diamond at its Verkhne-Munskoye deposit, the first colored stone found at the mine since it opened.The stone, recovered in mid-February from the mine in Yakutia, was found in the Zapolyarnaya...
Mining Feb 23, 2020 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
China slowdown affecting global sentiment. Diamond markets quiet as coronavirus reduces value across the supply chain. Chinese and Hong Kong jewelers remain closed and lack of Chinese tourism likely to impact European and...
Polished Markets Feb 20, 2020 Rapaport News
India Diamond Week Launches 150
India: Demand Slow and Liquidity Tight
Sentiment low owing to tight liquidity and slow polished demand. Buyers seeking discounts and looking for desperate sellers. Dealers maintaining weak 1H outlook, with concerns Chinese jewelers will return large volume of unsold...
Research Feb 20, 2020 Rapaport News
Rapaport TradeWire February 20, 2020
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Research Feb 20, 2020 Rapaport
Podcast
Podcast: How Big a Threat Is the Coronavirus?
With the coronavirus dominating headlines since late January, the Rapaport Diamond Podcast looks at its potential impact on the diamond and jewelry market. In addition, Rapaport Senior Analyst Avi Krawitz sums up the mood...
Polished Markets Feb 20, 2020 Rapaport News
Signet
Signet Launches First Spanish-Language Ads
Signet Jewelers has introduced its first foreign-language advertising campaigns in the US market, targeting the growing number of Hispanic millennials expected to marry in the coming years.“They are a big customer group, and getting a lot bigger...
Retail Feb 20, 2020 Leah Meirovich
Swiss Watches
US Keeps Swiss Watch Exports Afloat
Swiss watch exports rose in January as demand in the US continued to increase, propelling the country past Hong Kong to become the largest importer of the luxury product.Shipments to all countries grew 9% to CHF 1.79 billion ($1.82 billion)...
Retail Feb 20, 2020 Rapaport News
De Beers rough and polished
De Beers Optimistic After 2019 Earnings Slump
De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.Early data from the holiday season indicate midstream stock levels are more balanced...
Mining Feb 20, 2020 Rapaport News
Star Diamonds Rio Tinto
Rio Tinto’s Canada Deal Hits Trouble
Star Diamond Corporation has accused Rio Tinto of not complying with the terms of a joint-venture agreement for operating the Star-Orion South exploration project in Canada. In 2017, Rio Tinto entered into a deal with the...
Mining Feb 19, 2020 Rapaport News
Lucapa
Lucapa Closing In On Diamond Source
Lucapa Diamond Company is coming closer to finding the kimberlite source of its high-quality alluvial diamonds, the miner said Wednesday.The company will drill seven new kimberlites located just upstream of the high-value portion of its...
Mining Feb 19, 2020 Rapaport News
HRD Antwerp Hatton Garden
Peter Meeus Bids Again for HRD Antwerp
Former HRD Antwerp chief Peter Meeus has made a second offer to buy the Belgian laboratory, after its owners rejected his initial proposal.“I’m going straight to the Hoveniersstraat 22 to [deposit] my new bid,” Meeus said...
Polished Markets Feb 19, 2020 Joshua Freedman
Alrosa LJ West
L.J. West Buys Pink-Purple Alrosa Diamond
New York-based diamond collector and wholesaler L.J. West has purchased a 6.21-carat fancy-intense-pink-purple diamond from Alrosa.The stone, one of three the Russian miner cut and polished from a 20.18-carat rough it found in one of its...
Polished Markets Feb 19, 2020 Leah Meirovich
Community Building
How to Build a Strong Retail Community
Just a few generations ago, jewelry stores were mom-and-pop shops at the heart of their local communities. While technology has opened the market to a wider audience and added many positive elements to the jewelry-purchasing process,...
Retail Feb 18, 2020 Leah Meirovich
DMCC
DMCC Debuts New Diamond-Boiling Facility
Trigem, a service provider to the diamond industry, has launched a new boiling plant at the Dubai Multi Commodities Centre (DMCC) that will have the capacity to process 1.4 million carats of rough each month.The facility,...
Rough Markets Feb 18, 2020 Rapaport News
Lightbox
De Beers Adds Grading Specs for Lightbox
Lightbox has added grading information for its synthetic white diamonds in an effort by the De Beers brand to bring further transparency to the lab-grown sector.The company will provide technical specifications showing the minimum quality of its...
Retail Feb 18, 2020 Rapaport News
NRF
Coronavirus Impact May Reach US Retail
US retail sales could face growth challenges in February as supply chains are impacted by shutdowns at Chinese factories due to the coronavirus epidemic, the National Retail Federation (NRF) said.Imports of goods from the mainland will see...
Retail Feb 17, 2020 Rapaport News
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