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Kimberley’s Lerala Mine in Botswana Back on Stream after Nine-Month Upgrade
Kimberley Diamonds said production restarted at its LeralaDiamond Mine in Botswana after nine months of upgrading and recommissioning.First diamond sales are expected in June, the AustralianSecurities Exchange-listed miner said. Kimberley Diamonds carried out modifications...
Mining May 03, 2016 Rapaport News
GIA Sees 48 Companies Participating in New York Job Fair
The Gemological Institute of America (GIA) is expecting aturnout at its New York jewelry career fair in July “similar” to last year,when 48 companies attended the key recruitment event.“Dozens” of gem and jewelry companies will be looking tohire...
Retail May 03, 2016 Rapaport News
Top Diamond Producers to Address Sustainability Issue at Congress in Dubai
Major diamond miners are expected to share views on transparency,responsibility and sustainability in producing countries at this month’s WorldDiamond Congress.A panel discussion on the topic is scheduled for May 19 atthe 37th congress in Dubai. “We are expecting...
Mining May 03, 2016 Rapaport News
Argyle Violet Rio Tinto
Argyle Mine’s Largest Violet Diamond to Lead Rio Tinto’s Tender
The largest violet diamond recovered from Rio Tinto’s Argylemine in Western Australia is to go on sale at a tender this year.Violet diamonds are especially rare, as the mine hasproduced only 12 carats of polished violet diamonds for the tender...
Polished Markets May 03, 2016 Rapaport News
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Diamond Prices Soften with Weaker Global Demand
PRESSRELEASE, May 3, 2016, New York … Polished diamond trading slowed in April dueto sluggish demand at the start of a seasonally-quiet period. Sentiment weakenedas the positive momentum from the first quarter failed to gain traction. Suppliessignificantly...
Polished Markets May 03, 2016 Rapaport
cash america
Cash America, First Cash in $2.4B Pawnbroker Merger
Cash America International and First Cash FinancialServices, two leading U.S. pawnshop businesses, have agreed to merge in a “transformational”$2.4 billion deal, the companies announced.The combined group, to be known as First Cash, will be one ofthe largest...
Retail May 03, 2016 Rapaport News
tiffany small
Tiffany Scoops Ex-Vogue Creative Director to Lead Ad Campaign
Tiffany & Co. unveiled a collaboration with the former modeland creative director of American Vogue magazine, Grace Coddington. The company, which announced its move through a cartoonanimation on its social media pages, appointedCoddington as its...
Retail May 03, 2016 Rapaport News
Boucheron Owner Kering Sees Luxury Sales Climb 3% in 1Q
Kering, the owner of high-end jewelry brands Boucheron andPomellato, reported luxury sales rose in the first quarter on a stronger retailperformance in Western Europe, Japan and emerging markets.Revenue from the Paris-based group’s luxury brands – whichalso...
Retail May 02, 2016 Rapaport News
Hong Kong
Hong Kong’s 1Q Polished Diamond Imports Slump 13%
Hong Kong’s polished imports dived in the first quarter aftershipments from its key supplier markets – India, Israel and Belgium – slumped.Imports ofpolished stones dropped 13 percent to $4.23 billion in the three months toMarch 31 as deliveries...
Polished Markets May 02, 2016 Rapaport News
Jewelry Prices
U.S. Jewelry & Watch Sales +4% in March
U.S. jewelry and watch sales from all outlets climbed 4.2percent year on year to an estimated $4.65 billion in March, according toprovisional data from the U.S. Department of Commerce. Jewelry sales in March increased 4 percent to $4.11...
Retail May 02, 2016 Rapaport News
Charles & Colvard’s 1Q Sales Soar to Highest in Almost 10 Years
Charles & Colvard, the creator of diamond substituteMoissanite, posted its highest quarterly revenue figure for nearly a decadethanks to a supersized purchase by its biggest customer.Sales soared 62 percent to $11.4 million in the three monthsto March 31 as a client...
Retail May 02, 2016 Rapaport News
India’s Polished Diamond Exports +4% in March
India’s polished diamond exports increased 4.3 percent yearon year to $1.83 billion in March, according to provisional data provided bythe nation’s Gem & Jewellery Export Promotion Council (GJEPC). By volume,polished exports surged 25 percent to 3.5...
Polished Markets May 02, 2016 Rapaport News
Jewelers Exiting U.S. Trade Soars in 1Q
U.S. jewelry business discontinuances surged 35 percent inthe first quarter, according to data released by the Jewelers Board of Trade(JBT).Of the 380 companies that left the industry, the maximumnumber was in the “ceased-operations” category, which...
Retail May 01, 2016 Rapaport News
Botswana Flag
S&P Lowers Botswana’s Outlook as Diamond Slump Hits Growth
Standard & Poor’s (S&P) cut its outlook for Botswanato negative on concern a slump in the diamond industry could be structuralrather than cyclical.The country is highly exposed to the performance of the diamondsector as it represents just under a third...
Rough Markets May 01, 2016 Rapaport News
Warren Buffett’s Richline Buys Jewelry Site Gemvara
Richline Group, a jewelry subsidiary of Warren Buffett’sBerkshire Hathaway, acquired online jewelry seller Gemvara, BostInno reported.The deal will see Gemvara provide ecommerce and in-storedigital technology for Richline’s brands and customers, including BerkshireHathaway...
Retail May 01, 2016 Rapaport News
Sotheby's blue pear diamond
Roster of Multi-Million Dollar Diamonds For Sale at Sotheby's Geneva Auction
Sotheby’s unveiled highlights of its upcoming auction inGeneva that will feature more than 10 diamonds and gemstones estimated at $1million or higher.Headlining the May 17 Magnificent Jewels & Noble Jewels sale is the ‘UniquePink,’ expected to fetch...
Retail May 01, 2016 Rapaport News
Rapaport TradeWire April 27, 2016
RAPAPORT NEWS SERVICE | April 27, 2016...
Research Apr 27, 2016 Rapaport
India Arch
Rapaport Weekly Indian Market Report
Trading slow as expected during April-May. Jewelry retailers focused on gold sales ahead of Akshaya Tritiya festival on May 9. Government sets up panel to implement 1% excise tax on jewelry industry. Steady demand for GIA-dossiers and 1 ct., G-J,...
Research Apr 27, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
The major mining companies lost ground with Anglo American(-11.9%) leading the slump. Rio Tinto posted a double-digit decline, whilePetra Diamonds fell despite its positive trading report. Far East retailwas mixed with...
Financial-Legal Apr 27, 2016 Rapaport News
China luxury Shoppers
Making Luxury More Affordable in China
Diamond dealers still see China as the engine of industry growth but Premier Xi Jinping’s government can do more to encourage its development. As the country transitions to a consumer-driven economy, luxury products such as jewelry are considered expensive...
Retail Apr 27, 2016 Avi Krawitz
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