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Rough Markets
Polished Markets
Diamond Marketing Body Seeks Cash Injection
The Diamond Producers Association (DPA) plans to increaseits annual budget to $60 million from $6 million by asking members forbigger contributions, Bloomberg reported.The industry’s marketing body is looking to step up effortsto make diamonds appeal to younger consumers,...
Marketing Jan 19, 2017 Rapaport News
Diamcor Prices Succumb to India Liquidity Crisis
Diamcor reported weaker prices at its fiscal third-quarter tenders as India’s demonetization policy thatsapped liquidity from the market hit the miner’s sales.The company fetched an average price of $125 per carat at rough-diamond tenders held...
Mining Jan 18, 2017 Rapaport News
Luk Fook Jewellery Macau
China a Bright Spot as Luk Fook Sales Decline
Luk Fook reported same-store sales fell 10 percent in thethird fiscal quarter as a continued decline in its Hong Kong business outweighed improvements in mainlandChina.Same-store sales slid 11 percent in Hong Kong versus a 5percent increase in mainland China in the...
Retail Jan 18, 2017 Rapaport News
Surat Diamond Workers
Demonetization Stifles India’s Diamond Imports
India’s diamond trade is still reeling from the government’s shock demonetization policy as local demand for rough and polished diamonds declined in December.Rough imports, predominantly used in India’s vast manufacturing sector, fell 5 percent year-on-year...
Polished Markets Jan 18, 2017 Rapaport News
Saxendrift Rockwell
Rockwell Sales Slump Amid Legal Woes
Rockwell Diamonds reported revenue dived 51 percent to $2.7million (CAD 3.5 million) in the third fiscal quarter as litigation forced thecompany to suspend operations at its Wouterspan mine in South Africa.Rough diamond sales plummeted 65 percent to $1.8 million(CAD...
Mining Jan 17, 2017 Rapaport News
small ice road
Diavik Mine to Escalate Diamond Production
Dominion Diamond Corporation forecast production at theDiavik mine in Canada will increase by up to 14 percent this year after outputrose in 2016.The miner projected rough-diamond recovery of 7.1 million to7.6 million carats in 2017, with all mining taking...
Mining Jan 17, 2017 Rapaport News
Tiffany - must attribute to Newscast
Trump Protests Disrupt Tiffany Holiday Sales
Tiffany & Co reported holiday sales declined 4 percent to $483million in the Americas amid weaker consumer spending and protests outsidethe jeweler’s flagship New York store.Comparable-store sales also fell 4 percent in the Americas during the...
Retail Jan 17, 2017 Rapaport News
argyle rough
Rio Tinto Raises Diamond Output
Rio Tinto’s rough-diamond production grew 4 percent to 18million carats in 2016, the lower end of its guidance, as it continued to step up underground operations at its Argylemine in Australia.Output at Argyle, known for its production of rare fancy pink diamonds...
Mining Jan 17, 2017 Rapaport News
Sierra Leone president Ernest Bai Koroma
Sierra Leone President Upbeat on Diamonds
Sierra Leone President Ernest Bai Koroma spokeoptimistically of the nation’s future in the diamond industry on a visit to theIsrael Diamond Exchange (IDE).“Even though the alluvial diamond deposits [in Sierra Leone]are shrinking, there are still...
Mining Jan 16, 2017 Rapaport News
Shopping Mall
NRF Reports Some Holiday Cheer
Holiday retail sales rose 4 percent driven by anaccelerated economic recovery even as certain large chain stores reported lowertraffic, according to separate reports from the National Retail Federation (NRF) andMasterCard.The NRF said total U.S....
Retail Jan 16, 2017 Rapaport News
Gold bars
Gold Set to Shine on Stronger Asian Demand
The World Gold Council (WGC) predicted gold prices will continue to rise in 2017 as growth in Asia and political uncertainty in the west are expected to support demand. “Not only will gold remain highly relevant...
Research Jan 16, 2017 Rapaport News
Fellows diamond tiara
Diamond Tiara Crowns Fellows Auction
U.K.-based auction house Fellows sold $627,000 (GBP 520,000)worth of jewelry last week, with the event 74 percent sold by lot and 87percent sold by value.A brilliant round, 6.43-carat, K-color, VVS2-clarity diamondring was the most...
Polished Markets Jan 16, 2017 Rapaport News
Lace Diamond Mine DiamondCorp
DiamondCorp Insolvency Hinges on Wage Deal
DiamondCorp warned it will likely enter insolvency proceedings unless an agreement is reached over retrenchment and payment of outstanding wages in relation to its Lace Mine in South Africa.The company therefore announced a share sale to fund the care...
Mining Jan 15, 2017 Rapaport News
Alrosa sorter
ALROSA’s Diamond Resources Decline
ALROSA’s rough diamond resources fell 4 percent to 1.03billion carats as at July 1, 2016, the Russia-based miner reported.Back on January 1, 2015, the resources stood at 1.08billion carats. Both assessments were carried out in accordance with a codeoutlined by the...
Mining Jan 15, 2017 Rapaport News
aaron group
Richline Acquires The Aaron Group
Richline Group bought jewelry manufacturer TheAaron Group, as the Warren Buffett-owned business continues to drive growth through mergers and acquisitions. The companies did not disclose terms of the deal, which was the fifth...
Manufacturing Jan 15, 2017 Rapaport News
Birks Group Vancouver store
Birks Holiday Sales Defy U.S. Jewelry Dip
Birks Group reported comparable-store sales grew 11 percent in a record holiday season for the retailer as the average spend per shopper rose and agreater proportion of store visits translated into purchases.Comparable-store sales jumped 16 percent...
Retail Jan 15, 2017 Rapaport News
Rapaport TradeWire January 12, 2017
RAPAPORT NEWS SERVICE | January 12, 2017...
Research Jan 12, 2017 Rapaport
Rapaport Weekly Market Comment
Diamond demand uncertain as U.S. jewelersreport weak holiday sales. Signet disappoints as Nov.-Dec. sales -5% to $1.9B withfewer transactions, higher average price, and technical glitches on ecommercechannel. Mall traffic slow with department stores discounting heavily toattract customers. Macy’s, J.C. Penney jewelry outpaces sluggish overallperformance....
Polished Markets Jan 12, 2017 Rapaport News
Nordstrom Names Exec to Tap Online Retail Growth
Nordstrom appointed Geevy Thomas to a new role of chiefinnovation officer to help the retailer keep up with trends in consumer habitsand strengthen online sales.Former salesman Thomas has served for 34 years at thecompany and was most recently...
Retail Jan 12, 2017 Rapaport News
Joseph Kuzi
Undisclosed Synthetics Reaching Epidemic Levels
The fact that there have not been major headlines screaming at the market about undisclosed synthetics recently doesn't mean it’s not happening. Rather, Joseph Kuzi (pictured), director of Diamond Services, a synthetics testing...
Polished Markets Jan 12, 2017 Avi Krawitz
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