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Rapaport Weekly Market Comment
Polishedinventory levels starting to decline as manufacturers cut production and roughbuying. Small Aug. sight as De Beers lets sightholders reject 50% of goods.Alrosa slashes 2019 sales forecast from 38M cts. to 33M cts. after 2Q revenue-21% to $859M,...
Polished Markets Aug 22, 2019 Rapaport News
India BDB 150
India: Cutters Shifting to Lower-Cost Goods
Slight improvement, withmore US and Israeli buyers looking for bargains in Mumbai. Demand has narrowedto specific categories. Overseas jewelers not yet placing large inventoryorders. Stable demand for 1 ct., G-J, SI-I1 goods for...
Research Aug 22, 2019 Rapaport News
Asian Star
Asian Star Revenue Down in First Quarter
Revenue and profit at Indian diamond-manufacturer Asian Starfell in the first fiscal quarter, reflecting a slowdown in demand for polished diamonds. Group revenue declined 7% year on year to INR 8.25 billion($114.8 million) in the three months ending...
Retail Aug 22, 2019 Rapaport News
NCDIA Seminar
NCDIA to Hold Colored-Diamond Seminar
The Natural Color Diamond Association will present a study at the Hong Kong Jewellery & Gem Fair on how coloring in diamonds develops. Since 2009, GGTL Laboratories in Liechtenstein has beenanalyzing both natural and lab-grown...
Polished Markets Aug 22, 2019 Rapaport News
NRF July
US Consumer Spending Robust Amid Trade War
US retail sales increased in July, as consumer confidence remained strong despite fears over the escalating trade war. Total purchases— excluding automobiles, gasoline andrestaurants — rose 0.9% compared with June sales and 5.6% year...
Retail Aug 22, 2019 Rapaport News
Podcast
Podcast: Oversupply, Tariffs and Silver Linings
As the trade returns from its summer vacations and starts to look toward the holiday season, the Rapaport editorial team outlines the industry’s prospects for the rest of the year. It’s volatile out...
Polished Markets Aug 22, 2019 Rapaport News
Hong Kong show
Trade Calls to Postpone Hong Kong Show
Three major trade bodies have asked the organizer ofthe Hong Kong Jewellery & Gem Fair to delay the show until the political climate stabilizes. “Currently 30% to 40% of the exhibitors are demanding...
Polished Markets Aug 21, 2019 Rapaport News
Tango Mining
Tango Pulls Out of Angola Diamond Venture
Tango Mining has terminated its service agreement to mineand market diamonds from the Moquita project in Angola. The company, in September, signed on to finance the alluvial project, which is located just north of Lucapa’s Lulomine. While...
Mining Aug 21, 2019 Rapaport News
Swiss Watches
China Drives Swiss Watch Rebound
Swiss watch exports rose in July driven by a rebound in growth in China and the Asia-Pacific market. “Swiss watch exports returned rapidly to growth followingthe downturn in June,” the Federation of the Swiss Watch Industry reportedTuesday. “Hong...
Retail Aug 21, 2019 Rapaport News
Blue Nile
Blue Nile Hires Permanent CEO
Blue Nile has appointed Sean Kell as CEO, ending its searchfor a permanent chief executive, the online jewelry retailer said Tuesday. Hereplaces Eric Anderson, a vice-president at parent company Bain Capital, who filledthe position...
Retail Aug 21, 2019 Rapaport News
Erich Jacobs JBT thumbnail
JBT Names New President
The Jewelers Board of Trade (JBT) has appointed Erich Jacobspresident. He will succeed Richard Weisenfeld, who is retiring. Jacobs joined JBT in 2018 as vice president of informationtechnology, JBT said lastweek. Weisenfeld first became acting presidentin...
Polished Markets Aug 20, 2019 Rapaport News
Pandora store 150 NY
Restructuring Efforts Boost Pandora
Shares in Pandora rose 10% in early trading Tuesday as salesdeclines narrowed in key markets and restructuring efforts led to signs ofrecovery. Global sales fell 2.6% year on year to DKK 4.69 billion($697.2 million) in the second quarter,...
Retail Aug 20, 2019 Rapaport News
Macys
Jewelry Strong for J.C. Penney, Macy’s
Two of the top US department stores noted strong jewelry sales in the second fiscal quarter, even as their overall results were disappointing.J.C. Penney and Macy’s both expressed intentions to invest further in improving their jewelry...
Retail Aug 20, 2019 Rapaport News
Sothebys Anna Hu
Sotheby’s to Sell 100ct. Yellow-Diamond Necklace
Sotheby’s has collaborated with Chinese jewelry designer Anna Hu on a five-piece collection featuring a 100-carat, fancy-intense-yellowdiamond necklace. Hu’s Silk Road Music Collection will go under the hammer atthe October Magnificent Jewels and Jadeite auction...
Polished Markets Aug 20, 2019 Rapaport News
Alrosa
Alrosa Slashes Full-Year Sales Outlook
Alrosa has reduced its sales forecast for this year in light of sluggish rough demand in the second quarter.The company expects to sell between 32 million and 33 million carats of rough diamonds for 2019, compared to its...
Mining Aug 20, 2019 Rapaport News
Michael Hill
Challenging Retail Market Hits Michael Hill Sales
Revenue at Michael Hill fell in the last fiscal year amid a difficultretail environment and the company’s move away from discounting prices. Group revenue at the Australia-based jeweler fell 1% to AUD569.5 million ($386.2 million) for...
Retail Aug 19, 2019 Rapaport News
Fake green rough diamond
GIA Exposes Rough with Fake Green Color
Manufacturers coated a rough diamond with a green substanceto imitate a natural color, the Gemological Institute of America (GIA) saidafter the stone turned up for grading.The presence of chromium oxide powder on the surface ofthe 6.49-carat crystal...
Rough Markets Aug 19, 2019 Rapaport News
DPA video
DPA Seeks to Eradicate Diamond Misconceptions
The Diamond Producers Association (DPA) has released a campaign that aims to challenge misconceptions about diamond mining inan effort to capture millennial consumers. “The goal is to convey some of the key facts and truthsabout natural...
Marketing Aug 19, 2019 Rapaport News
Ian Rowe DDI DP
DDI Appoints Ian Rowe as Executive Director
The Diamond Development Initiative (DDI) has promoted IanRowe to executive director. He will replace Dorothée Gizenga, who will lead theorganization’s new Africa office. Rowe, who has served as deputy executive director of the DDIsince...
Rough Markets Aug 19, 2019 Rapaport News
Gem Diamonds
Slow Market Dents Gem Diamonds Results
Revenue at Gem Diamonds fell in the first half of the yearamid weakness in the market. Sales of rough diamonds from the Letšeng mine in Lesotho plunged 44% to $94.5 million by value, and dropped10% to 55,714 carats by volume,...
Mining Aug 18, 2019 Rapaport News
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