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Coronavirus Updates: Impact on the Diamond Trade
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The COVID-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Mar 26, 2020
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Rapaport News
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Coronavirus Pummels Chow Tai Fook’s Sales
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Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42%in mainland China in the first two months of the year as stores shut for muchof the period.“In response to the measures of local...
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Retail
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Mar 11, 2020
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Rapaport News
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Macy’s Notes Solid Quarter for Jewelry
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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...
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Retail
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Mar 03, 2020
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Rapaport News
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Online Growth Boosts Michael Hill Sales
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Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler’s first fiscal half, as investments in digital platforms paid off.Same-store sales — at retail locations open for at least a year...
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Retail
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Feb 27, 2020
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Rapaport News
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Podcast: How Big a Threat Is the Coronavirus?
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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...
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Polished Markets
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Feb 20, 2020
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Rapaport News
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Gold Demand Lifts Mood at India Jewelry Show
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Exhibitors at IIJS Signature in Mumbai expressed confidence India’s wedding tradition and enduring love of gold would help the nation’s jewelry industry overcome its current difficulties.Economic uncertainty, high gold prices, tight regulation and...
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Polished Markets
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Feb 17, 2020
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Joshua Freedman
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Panel Highlights Traceability Opportunity
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The trend of adopting diamond traceability measures is gaining traction, according to participants in a panel discussion at Israel’s International Diamond Week.The panel, moderated by Rapaport Senior Analyst Avi Krawitz, explored how various businesses across the supply...
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Polished Markets
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Feb 13, 2020
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Rapaport News
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Diamond Market Cautious Amid China Concerns
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RAPAPORT PRESS RELEASE, February 4, 2020, Las Vegas… Diamond market sentiment was positive for most of January but weakened as the outbreak of the coronavirus in China resulted in a shutdown of retail stores over the important Chinese...
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Polished Markets
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Feb 04, 2020
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Rapaport
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US Trade Continues to Downsize
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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...
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Retail
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Jan 20, 2020
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Rapaport News
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Chow Tai Fook Buys Chinese Retailer Enzo
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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...
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Retail
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Jan 19, 2020
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Rapaport News
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Chow Tai Fook to Shut Stores in Hong Kong
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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...
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Retail
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Jan 14, 2020
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Rapaport News
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Podcast Episode 21: Googling Billy Porter
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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?...
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Polished Markets
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Jan 14, 2020
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Rapaport News
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Retail
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Jan 09, 2020
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Sonia Esther Soltani
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Signet Takes Hit Following Wells Fargo Report
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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...
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Retail
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Jan 08, 2020
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Rapaport News
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Diamond Prices Stable After Year of Declines
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RAPAPORT PRESS RELEASE (Revised), January 7, 2020, Las Vegas… Diamond market conditions improved in December as US and Chinese holiday demand helped raise sentiment. Polished prices stabilized and improved for sizes under 1 carat, supported...
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Polished Markets
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Jan 07, 2020
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Rapaport
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Titan Revenue Grows During Diwali Season
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Jewelry sales at Titan Company strengthened during the third fiscal quarter amid solid bridal demand, the Indian retailer said Saturday.Revenue grew 11% year on year for the three months ending December 31,...
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Retail
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Jan 05, 2020
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Rapaport News
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The Next Diamond Decade
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It wasn’t that long ago that De Beers declared the 2010s “The Diamond Decade.” Growth in China and India was projected to drive demand, while the US would take small steps out of recession. This is what...
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Polished Markets
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Dec 25, 2019
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Avi Krawitz
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Hamilton Jewelers Mourns Martin Siegel
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Martin Siegel, the chairman of Hamilton Jewelers who wasinstrumental in growing the US retailer’s brand, died on December 17, thecompany announced. He was 86. Born in New Jersey, Siegel joined his father’sfine-jewelry business on leaving the army...
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Retail
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Dec 19, 2019
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Rapaport News
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Podcast: What’s in Store for the Holidays
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With the holiday season well under way, the Rapaport Diamond Podcast debates different trends taking shape in the retail space. The discussion spans personalization, omnichannel, effective storytelling, being more open-minded, and...
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Retail
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Dec 12, 2019
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Rapaport News
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Can Nanotechnology Save the Diamond Trade?
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It’s not easy for a diamantaire to compete in the emerging diamond-traceability market, admits Bruno Scarselli, a New York-based supplier of fancy-color diamonds. As the likes of De Beers, the Gemological Institute of America (GIA) and others roll out...
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Technology
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Dec 09, 2019
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Avi Krawitz
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