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Watchmaker
Watch Exports to Hong Kong and US Still Weak
Swiss watch exports dropped heavily in June as continued slowdowns in Hong Kong and the US outweighed a recovery in China.Total shipments fell 35% year on year to CHF 1.13 billion ($1.21 billion), the fourth consecutive monthly decline,...
Watches Jul 21, 2020 Rapaport News
New York 47th Street.
US Import Slump Continues in May
US polished-diamond imports dropped heavily again in May, according to Commerce Department data, with Covid-19 shutting the global market and devastating demand. May is usually the strongest month for shipments as exhibitors send goods to the...
Polished Markets Jul 13, 2020 Rapaport News
Back in business
Jewelers See Positive Signs as Business Restarts
Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis...
Retail Jul 02, 2020 Leah Meirovich
GIA Scholarships
GIA to Unlock New York Lab
The Gemological Institute of America (GIA) is reopening its New York grading laboratory Monday following a three-month shutdown due to the coronavirus.“As restrictions are lifted and the global gem and jewelry industry begins to recover,...
Polished Markets Jun 25, 2020 Rapaport News
NYC from above
Covid-19 Obliterates US Polished Shipments
US polished-diamond imports dropped heavily in April to their lowest level since Rapaport records began, as the coronavirus shut global markets. Rough trading was close to zero during the month, according to data from the Commerce...
Polished Markets Jun 23, 2020 Rapaport News
Diamond jewelry
JVC Releases Guide to FTC Rules
The Jewelers Vigilance Committee (JVC) has published a book containing advice on how to interpret the US Federal Trade Commission (FTC) jewelry guidelines.Understanding the FTC Guidelines deciphers the complex rules governing the manufacture, sale,...
Financial-Legal Jun 18, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
Manhattan coronavirus
US Polished Imports Down 66% in March
US polished-diamond imports fell in March to their lowest level since December 2002 as the coronavirus hit global trading. The month saw the 12th consecutive year-on-year decline, according to Rapaport archives based on data from the...
Polished Markets May 19, 2020 Rapaport News
India Bharat Diamond Bourse
Exports Restart at India’s Bharat Diamond Bourse
Mumbai has dispatched its first diamond exports since India’s lockdown started, after the regional government allowed limited activities to resume at the city’s Bharat Diamond Bourse (BDB).The first shipments took place on Tuesday,...
Polished Markets May 14, 2020 Joshua Freedman
Melee diamonds at De Beers Group Industry Services
India’s Cutting Sector Faces Decade-Low Revenues
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned.Diamond sales will decline up to 32%, to $13 billion to $15 billion,...
Polished Markets Apr 28, 2020 Rapaport News
Times Square
US Polished Imports Show Pre-Virus Slump
US imports of polished diamonds slid 26% to $2.43 billion in the first two months of 2020, even before the coronavirus had started to have a major impact on the economy. February imports fell 12% to $1.28 billion. The...
Polished Markets Apr 27, 2020 Rapaport News
Tutti Frutti
Sotheby’s to Sell ‘Tutti Frutti’ Cartier Bracelet
A gem-set, diamond and enamel tutti frutti bracelet by Cartier is to go under the hammer in Sotheby’s latest online sale.The piece, which has a high estimate of $800,000, will be sold as a single lot by Sotheby’s New York in a dedicated remote...
Polished Markets Apr 26, 2020 Rapaport News
Emanuel Gordon
Diamond Dealer Manny Gordon Dies at 79
New York diamond dealer Emanuel “Manny” Gordon died on April 7 aged 79, after contracting COVID-19.The industry veteran, who founded the eponymous Manny Gordon Trading in 1984, trained and subsequently worked with his...
Polished Markets Apr 21, 2020 Rapaport News
Rolex display window
March Shutdown Hits Swiss Watch Exports
Swiss watch exports slumped in March amid continued market pressures resulting from the coronavirus pandemic.Shipments slid 22% to CHF 1.36 billion ($1.4 billion) for the month, with most markets declining significantly, the...
Watches Apr 21, 2020 Rapaport News
Erich Jacobs
JBT Amends Credit Reports to Account for COVID-19
The Jewelers Board of Trade (JBT) will issue two parallel credit ratings for companies during the current crisis to reflect the impact of the shutdown on cash flow.The organization’s credit reports, which score jewelers’...
Retail Apr 07, 2020 Rapaport News
Closed sign
How Three Jewelers Are Coping During COVID-19
Can my company survive this crisis? How long will the shutdown last? Should I lay my workers off? Should I apply for government support? The coronavirus outbreak has left US jewelers with a string of questions. There...
Retail Apr 07, 2020 Joshua Freedman
Namdeb employee sorting through rough diamonds.
De Beers Cancels March-April Sight
De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus.Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment...
Rough Markets Mar 30, 2020 Rapaport News
Kay Jewelers store Bethesda
Signet Closing All Stores in US, Canada
Signet Jewelers is shutting all its stores in North America due to the coronavirus, a company spokesperson confirmed with Rapaport News.The temporary closure goes into effect at the close of business on Sunday, the spokesperson said. It applies...
Retail Mar 22, 2020 Joshua Freedman
De Beers Botswana
De Beers Sight Still On Despite Travel Ban
De Beers’ upcoming sight in Botswana will still take place despite the country’s ban on arrivals from the US, China, India and Belgium, the miner has confirmed.“While this is an extraordinary situation and COVID-19 has...
Rough Markets Mar 18, 2020 Joshua Freedman
JCK Las Vegas 2019
JCK Las Vegas to Go Ahead
The JCK Las Vegas and Luxury shows will take place as planned, their organizer has confirmed, allaying fears the coronavirus would jeopardize the events.“At this time of global concern, Reed Exhibitions and...
Polished Markets Mar 04, 2020 Rapaport News
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