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WFDB Prepares Master Plan to Boost Relevance
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There was a time, though not very recent, when a gathering of the World Federation of Diamond Bourses (WFDB) was graced by royalty and high-ranking politicians, recalled industry consultant Peter Meeus at the organization’s annual Presidents’...
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Polished Markets
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Oct 07, 2019
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Avi Krawitz
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Diamond Trade Cautious Ahead of Holiday Season
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RAPAPORT PRESS RELEASE, October 7, 2019, Las Vegas…Diamond market sentiment was weak in September after the Hong Kong show demonstrated a slowdown in Chinese demand.Buyers from mainland China are cautious. The US-China trade war,...
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Polished Markets
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Oct 07, 2019
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Rapaport
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UBS Predicts Drop in Diamond-Jewelry Sales
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Global diamond-jewelry demand will decline 2% this year asstock-market volatility in the US is likely to affect consumer sentiment, UBSpredicted. “Demand in 2019 [to date] has been lackluster, and we expecta modest decline in global diamond-jewelry sales in [the...
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Retail
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Oct 02, 2019
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Rapaport News
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Hong Kong Fair Prioritizes Buyer Incentives
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The organizers of the September Hong Kong Jewellery & Gem Fair rejected the trade’s request for a discount, executives confirmed Wednesday.The Hong Kong Jewelry Manufacturers’ Association (HKJMA) had asked Informa Markets for...
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Polished Markets
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Sep 18, 2019
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Joshua Freedman
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Sentiment Cautious as Hong Kong Show Starts
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Expectations were low among diamantaires as the September Hong Kong Jewellery & Gem Fair opened Monday, with local unrest dampening prospects for attendance.Many companies have skipped the show for safety reasons,...
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Mining
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Sep 16, 2019
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Joshua Freedman
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James Avery Picks Non-Family Member as CEO
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James Avery Artisan Jewelry has named John McCullough as CEO— the first non-family member to lead the Texas-based retailer. McCullough, who was previously chief operating officer (COO),succeeds Chris Avery, who has been...
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Mining
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Sep 10, 2019
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Rapaport News
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Signet Scaling Back China Buying
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Signet Jewelers plans to reduce its purchasing of Chinesegoods by about 50%, aiming to minimize the impact of US tariffs on thebusiness. “We have been successful in working with our vendors to movea significant amount of our China exposure to other...
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Retail
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Sep 09, 2019
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Rapaport News
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Trade Bodies Relaunch Cost of Business Survey
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Jewelers of America (JA) has partnered with the Jewelers Board of Trade (JBT) to launch the Retail Jewelers Benchmarking Study, replacing the JA’s Cost of Doing Business Survey last published in 2015. The resulting report...
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Retail
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Sep 05, 2019
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Rapaport News
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Tracr Aiming to Be More Than a Blockchain
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As a tech guy, Jim Duffy spends much of his time on the road explaining technical terms in a way laymen can understand. He has his work cut out for him as CEO of Tracr, De Beers’ blockchain project — especially...
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Polished Markets
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Sep 04, 2019
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Avi Krawitz
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China Slowdown Weighing on Diamond Prices
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RAPAPORT PRESS RELEASE, September 3, 2019, Las Vegas … Diamond markets were quiet in August, with dealers taking their summer vacations amid uncertainty about the important Hong Kong Jewellery & Gem Fair. Demand...
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Polished Markets
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Sep 03, 2019
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Rapaport
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Podcast: Oversupply, Tariffs and Silver Linings
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As trade members return from their summer vacations, the Rapaport editorial team outlines the industry’s prospects for the rest of the year. It’s volatile out there with all the talk of recession, rumblings...
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Polished Markets
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Aug 22, 2019
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Rapaport News
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Trade War Sparks Opportunity for Indian Jewelers
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India’s diamond and jewelry trade is hoping to take market share from Chinese suppliers after the US government announced a hike on import duties from China. There’s a changing world order and India is well placed to capitalize...
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Retail
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Aug 13, 2019
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Avi Krawitz
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How Trump’s Tariffs Could Affect the Trade
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Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018,...
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Financial-Legal
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Aug 11, 2019
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Lara Ewen
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HSBC to Pay $330M in Antwerp Fraud Settlement
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A Swiss unit of HSBC has agreed to pay a record EUR 294.4 million ($330 million) to settle fraud claims against its Belgian business, which mainly served members of the Antwerp diamond trade.In 2014, a Belgian judge...
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Financial-Legal
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Aug 07, 2019
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Joshua Freedman
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Let’s Set Our Sights on the Auctions
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De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
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Rough Markets
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Aug 07, 2019
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Avi Krawitz
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Diamond Trading Quiet Amid Tight Profits
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RAPAPORT PRESS RELEASE, August 6, 2019, Las Vegas … Diamond-market sentiment was weak in July due to tight profits and liquidity. The pressures facing cutters and dealers resulted from high rough supply at inflated prices...
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Polished Markets
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Aug 06, 2019
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Rapaport
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Israel, Shanghai Bourses Strengthen Cooperation
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Members of the Israel and Shanghai diamond exchanges are set to sign a cooperation agreement during the inaugural Israel Diamond Week that opens in the Chinese city on Tuesday.The three-day event marks the first time...
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Polished Markets
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Jul 15, 2019
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Rapaport News
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Manufacturer LDC Acquires Metal-Casting Company
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LDC, a jewelry manufacturer based in East Providence, RhodeIsland, has acquired precious-metals caster First Casting Company. First Casting was founded by Jerry Traficante and his wife,Susan, in 1980, with the couple continuing to run the...
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Manufacturing
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Jul 10, 2019
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Rapaport News
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Will Gemologists Survive Automation?
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Amid the tech boom that is shaping the diamond industry, a growing number of companies are challenging the grading laboratories, arguing that assessing the 4Cs should not be a subjective science.“Five to 10 years from now, diamond...
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Technology
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Jul 10, 2019
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Avi Krawitz
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High Gold Prices Mute Titan Growth
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Indian jewelry retailer Titan Company cautioned that sales were lower than expected in its first fiscal quarter as high gold prices weighed on consumer spending. Sales from the jewelry division, which includes the...
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Retail
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Jul 09, 2019
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Rapaport News
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