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Gitanjali store
Gitanjali Profit +51% as Jewelry Outpaces Diamonds
Gitanjali Gems,one of India’s largest jewelry retailers, said revenue and profit surged in thepast fiscal year driven by a strong performance in its jewelry division whileits diamond revenue slid. Group salesjumped 22 percent to $2.08 billion (INR...
Retail May 31, 2016 Rapaport News
Aurora Green Christie's
Chow Tai Fook Buys Rare Green Diamond for $17M
Christie’ssold the ‘Aurora Green’ diamond to Chow Tai Fook for $16.8 million (HKD 130 million) at its HongKong auction Tuesday, achieving $3.3 million per carat.Therectangular-cut, 5.03-carat, fancy vivid green, VS2 diamond is the...
Retail May 31, 2016 Rapaport News
ALROSA Sees Stronger Sales, Lower Inventory in 1Q
ALROSAreported revenue and profit surged in the first quarter as the rough diamond marketimproved from last year’s slump. Revenuejumped 37 percent to $1.56 billion (RUB 102.34 billion) in the three months toMarch 31 and profit more...
Mining May 31, 2016 Rapaport News
Sarine DiaMining deal
Sarine Buys Diamond App Maker
SarineTechnologies has acquired DiaMining, a developer of apps that produce digitalimagery of diamonds, gemstones and jewelry. The deal was valued at $1.2 millionand encompasses DiaMining’s technology and assets.RamatGan-based DiaMining offers point-of-sale products that display...
Technology May 31, 2016 Rapaport News
US Flag
U.S. Jewelry Store Sales Rise in March
U.S.specialty jewelry store sales increased 3 percent year on year to $2.12 billionin March, according to the latest data from the U.S. Census Bureau. The growthat specialty stores was slower than for the sector...
Retail May 30, 2016 Rapaport News
Mahesh Khemlani
Panama Diamond Exchange Gets New Name
The Panama Diamond Exchange hasbeen renamed the World Jewelry & Diamond Hub, Panama, to reflect a broaderrange of goods being traded in the bourse. “While the trade in diamonds is aprincipal component of the activity at our bourse,...
Polished Markets May 30, 2016 Rapaport News
Reuven Kaufman
DDC Consolidating New York Supply at Vegas Show
The Diamond Dealers Club (DDC) of New York will display diamondssupplied by its members in a separate DDC booth at the JCK Las Vegas show whichbegins this week. The DDC will continue to host a pavilion where...
Polished Markets May 30, 2016 Rapaport News
EU Flag
EU Eyes 2018 Kimberley Process Chairmanship
TheEuropean Union (EU) is bidding for the role of Kimberley Process vice chair in2017, meaning it would assume chairmanship of the organization the followingyear. In a jointproposal made at the KP intersessional meeting in Dubai last week, India wouldserve...
Rough Markets May 30, 2016 Rapaport News
Ahmed Bin Sulayem
Kimberley Process to Readmit CAR, Venezuela
The Central African Republic (CAR) and Venezuela are edgingcloser to a return to the Kimberley Process (KP) following the organization’s intersessionalmeeting in Dubai last week.The monitoringteam assessing the CAR has “by and large” completed...
Rough Markets May 29, 2016 Rapaport News
Tom Moses GIA
GIA to Launch Synthetic Testing Service for Melee
The Gemological Institute of America (GIA) is piloting aservice to sift out synthetics and treated diamonds from melee.The GIA Melee Analysis Service will “rapidly and accurately”analyze and sort stones measuring 1.1 millimeters to 3.8...
Technology May 29, 2016 Rapaport News
Weaker High End Weighs on Swiss Watch Exports
Swiss watch exports fell in April with significantly fewerhigher-end and precious-metal timepieces shipped out of the country.Total shipments slid 11 percent year on year to $1.63billion (CHF 1.62 billion) during the month. Exports of wrist watches...
Watches May 29, 2016 Rapaport News
‘Ever Us’ Sales Lift Signet’s 1Q Revenue
Signet Jewelers reported sales increased in the first fiscalquarter off the back of a stronger performance by select branded bridal anddiamond fashion jewelry.Revenue rose 3.2 percent to $1.58 billion in the threemonths that ended April 30,...
Retail May 29, 2016 Rapaport News
Philippe Mellier
Philippe Mellier Resigns as De Beers CEO
Philippe Mellier stepped down as chiefexecutive officer of De Beers with Bruce Cleaver appointed to replace him, thecompany announced Friday.Mellier decided to leave thediamond miner five years after joining fromFrench transport group Alstom and will...
Mining May 29, 2016 Rapaport News
Rapaport TradeWire May 26, 2016
Research May 26, 2016 Rapaport
India Arch
Rapaport Weekly Indian Market Report
Market slow with many manufacturers closed forschool vacation or working at reduced production levels. Seasonal lull expectedto last till mid-June. Weak demand from Far East and Middle East. Focus onVegas as traders prepare...
Research May 26, 2016 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Anglo American (+13%) led U.K.-based mining stocks this past week on news of strong sales at the fourth De Beers sight of the year. In the U.S., retail stocks were generally higher, headed by Walmart (+12%), with...
Financial-Legal May 26, 2016 Rapaport News
Ekati Underground
Dominion’s Sales Decline 5% in 1Q
Dominion Diamond Corporation reported a slower pace of declinein quarterly revenue after last year’s slump as rough prices picked up duringthe first three months of the fiscal year.Sales fell 5 percent to $178.3 million in the first fiscalquarter...
Mining May 26, 2016 Rapaport News
Rapaport Weekly Market Comment
Rounds: Vegas expectations mixed amid weakconsumer demand. Polished markets slow with some traders very selectivelybuilding stock for JCK. Rough markets weak with oversupply concerns followingDe Beers $630M of sales in cycle 4 (May). India April polished exports +9%to $1.8B, rough imports +37% to $1.9B....
Polished Markets May 26, 2016 Rapaport News
Frederic Cumenal Tiffany
Tiffany Cuts Earnings Forecast as 1Q Sales Fall
Tiffany & Co. reported a drop in quarterly revenue andprofit, while lowering its earnings guidance, because of a decline in spendingby U.S. customers and foreign tourists. Sales fell 7.4 percent to $891.3 million and profitslumped 17 percent...
Retail May 26, 2016 Rapaport News
Alrosa Zarnitsa diamond
ALROSA Finds Largest Diamond in Zarnitsa's History
ALROSA discovered a 207.29-carat rough diamond at itsZarnitsa mine in the Russian republic of Yakutia.The gem-quality diamond measuring 38 х 37 х 18 millimetersis the largest found since open-pit mining started at the Zarnitsa pipe in1999. As yet unnamed, the stone...
Mining May 25, 2016 Rapaport News
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