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Enzo
Chow Tai Fook Buys Chinese Jeweler Enzo
Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets “modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive...
Retail Jan 19, 2020 Rapaport News
GIA
GIA Suspends Sealing Service
The Gemological Institute of America (GIA) has suspended its diamond-sealing service after fraudsters tampered with packets and replaced stones with treated ones. A small number of packages were “compromised” after leaving the GIA...
Polished Markets Jan 19, 2020 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Lowers Guidance as Argyle Closure Looms
Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year,...
Mining Jan 19, 2020 Rapaport News
Richemont
Robust Jewelry Sales Boost Richemont
Richemont’s jewelry sales increased 9% in the third fiscal quarter as strong growth in Europe, the US and China offset weakness in Hong Kong.Jewelry proceeds from Cartier, Van Cleef & Arpels and Buccellati rose to EUR 2.16...
Retail Jan 19, 2020 Rapaport News
Rapaport Logo
Rapaport Weekly Market Comment
Polished trading stable with selective demand. Dealers focused on filling US orders as jewelers begin post-holiday inventory replacement. Mixed results from the season, with record e-commerce sales driving growth. Signet Jewelers Nov.-Dec. revenue...
Polished Markets Jan 16, 2020 Rapaport News
Taj Mahal India
India: Polished Trading Quiet
Polished trading quiet due to holidays in China and India. Demand from local dealers for dossiers under 1 ct. Fewer overseas buyers than usual for this time of year. Rough buying improving but manufacturers...
Research Jan 16, 2020 Rapaport News
Rapaport TradeWire January 16, 2020
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Research Jan 16, 2020 Rapaport
Zales
Signet Raises Forecast Following Strong Holiday
Sales at Signet Jewelers increased during the holiday season, prompting the retailer to raise its full-year outlook.Same-store sales — at branches open for at least a year — increased 1.6% for the nine weeks ending January 4, while...
Retail Jan 16, 2020 Rapaport News
Michael Hill store 150
Holiday Sales Buoy Michael Hill Revenue
Michael Hill’s sales rose 6% in the first half of its fiscal year amid strong growth in holiday purchasing and a successful launch of lab-grown diamond jewelry.Group revenue climbed to AUD 327.3 million ($226.3 million) as higher sales...
Retail Jan 16, 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
Sewelo diamond
Louis Vuitton Buys 1,758ct. Diamond from Lucara
Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.The mining company will receive an up-front...
Rough Markets Jan 16, 2020 Rapaport News
GIA Times Square
GIA Advertises Origin Reports in Times Square
The Gemological Institute of America (GIA) has unveiled a video-billboard advertising campaign that encourages consumers to learn about the origin of diamonds.Two ads featuring GIA’s Diamond Origin Report and the 4Cs of diamond quality are...
Polished Markets Jan 15, 2020 Rapaport News
Alrosa
Alrosa Names New Director of Severalmaz
Alrosa has appointed Ravil Sanatulov to succeed Andrey Pismenny as general director of its Severalmaz mining division.Sanatulov began his mining career with Alrosa in 1986 as an equipment engineer in Mirny, prior to being promoted to various positions, the...
Mining Jan 15, 2020 Rapaport News
Rough diamond
UK Secures Deal to Keep Rough Trade Alive
The UK has secured independent membership of the Kimberley Process (KP), enabling it to continue participating in the international rough-diamond trade after the nation leaves the European Union.Britain’s decision to withdraw from the EU on January 31 requires the...
Rough Markets Jan 15, 2020 Joshua Freedman
Graff
Graff Hires US Chief to Help Expand Business
Graff has appointed Marc Hruschka CEO of its US operations as part of its efforts to reach new customers and grow its business.“We aim to become more dynamic, broadening our product offering to include everyday diamonds and...
Retail Jan 15, 2020 Rapaport News
Polished diamonds
India’s Polished Exports Slump in 2019
India’s polished-diamond exports dropped 16% to $20.62billion in 2019, recording their steepest annual decline since 2012. The decreasereflected a slump in imports volumes and a more moderate decline in the averageprice. Rough imports fell 17% as weakness...
Polished Markets Jan 15, 2020 Rapaport News
Adobe
US Online Holiday Sales Reach Record $143B
E-commerce spending in the US grew to a record high during the holiday season, driven by a rise in smartphone purchases, according to Adobe Analytics.Revenues rose 13% year on year to $142.5 billion over the November-December period, with consumer purchases...
Retail Jan 14, 2020 Rapaport News
Tiffany
Tiffany Opens Its ‘Flagship Next Door’
Tiffany & Co. has unveiled the location that will serve as its home during the two-year renovation of its New York flagship store.The Tiffany Flagship Next Door, a four-story space on East 57th Street,...
Retail Jan 14, 2020 Rapaport News
HK protest
Chow Tai Fook to Shut Stores in Hong Kong
Chow Tai Fook intends to close up to 15 stores in Hong Kong as street protests and a tourism slowdown have hit sales.Leases on more than 40 of the jeweler’s 91 retail locations in the municipality are due to expire during the fiscal...
Retail Jan 14, 2020 Rapaport News
Rapaport Diamond Podcast
Podcast Episode 21: Googling Billy Porter
The Rapaport Diamond Podcast ushers in the new year with a review of the holiday season and some bold predictions for 2020. Is this the year of retail refurbishment? Will rough buying become more demand-driven?...
Polished Markets Jan 14, 2020 Rapaport News
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