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Rapaport TradeWire May 25, 2017
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Research May 26, 2017 Rapaport
Rapaport Weekly Market Comment
Mixed mood as dealers prepare for Las Vegas shows. Slow polished market lacking usual pre-show buzz. Suppliers looking to assess retail atmosphere ahead of 2017 holiday season. Major jewelers under pressure as Tiffany shares plunge approximately -8% after 1Q sales +1% to $900M, net earnings +6%...
Polished Markets May 25, 2017 Rapaport News
Rapaport Diamond Industry Stock Tracker
Jewelry majors underperformed compared with the US stock market, with the Dow Jones gaining 2%. Signet (-7.4%) fell following an analyst’s downgrading, exacerbated by weak quarterly results, while Tiffany (-6.6%) also reported a sales drop amid a challenging market for brick-and-mortar retail. By contrast, more positive...
Financial-Legal May 25, 2017 Rapaport News
India Arch
Rapaport Weekly Indian Market Report
Activity relatively slow, withsome dealers still on vacation through May school holidays. Very few overseasbuyers in the market. Rising expectations for Las Vegas shows. Steady demandfor very small -2, SI goods. Stars, melee...
Research May 25, 2017 Rapaport News
kay
Woes Continue for Signet as Sales Slide
Signet Jewelers’ sales dived in the first fiscal quarter amidnegative publicity and a sluggish retail sector.Group sales fell 11% to $1.4 billion in the three monthsthat ended April 29, while same-store sales dropped 11.5%,...
Retail May 25, 2017 Rapaport News
Former De  Beers CEO Gareth Penny
Gareth Penny Leads Botswana Mine Purchase
Former De Beers CEOGareth Penny has partnered with a high-end colored-diamond manufacturer to buyFirestone Diamonds’ mining operations in Botswana.Penny and DiacoreDiamond Group — which cut the most expensive polished diamond inhistory — will potentially buy the...
Mining May 25, 2017 Rapaport News
Bucherer
Swiss Watch Exports Run Slow Again
April saw Swiss watch exports return to the downward trendthat has characterized the industry’s performance over the past two years, asdemand from Hong Kong and the US slumped.Shipments of timepieces fell 5.7% to $1.58...
Watches May 25, 2017 Rapaport News
tiffany store
Weak US Spending Drags Down Tiffany Sales
Tiffany & Co’s share price slumped 9% Wednesdayafter the retailer reported a dip in same-store sales for the first fiscal quarter.The jeweler announced a 3% drop in comparable-storesales — a sum that doesn’t include revenue from recently opened...
Retail May 24, 2017 Rapaport News
Alrosa Angola
Alrosa, Angola Sign Deal on New $35B Mine
Alrosa has partnered with Angolan national diamond companyEndiama to develop the African nation’s largest kimberlite deposit, claimingthe project could be worth more than $35 billion.Alrosadiscovered the Luele mine during exploration work it carried...
Mining May 24, 2017 Rapaport News
World diamond Mark Part of You campaign
WDM Campaign Tells Diamond Stories
The World Diamond Mark (WDM) has launched a campaignto promote diamonds by telling human stories and directing consumers to the organization’saccredited stores.Entitled “Part of You,” the campaign features images ofpeople from different backgrounds sporting...
Retail May 24, 2017 Rapaport News
MJSA awards 2017
MJSA Awards Honor Up-and-Coming Designers
Ten jewelry designers from three different countries havereceived the Manufacturing Jewelers & Suppliers of America (MJSA) VisionAward, which honors outstanding creativity, craftsmanship and technologicalprowess in the field.“The winning designers represent the future...
Manufacturing May 24, 2017 Rapaport News
Gem Diamonds Letseng 98ct. rough May 2017
Letšeng Yields 98ct. Rough Diamond
Gem Diamonds has discovered a 98.42-carat rough diamond atits Letšeng mine in Lesotho, the company said Tuesday.The miner will sell the D-color, type-II diamond in June,alongside an 80.58-carat stone unearthed earlier this month. During...
Retail May 23, 2017 Rapaport News
Tse Sui Luen TSL
Jeweler TSL Suffers from Hong Kong Slowdown
Sales and profit at jewelry retailer Tse Sui Luen (TSL) weakened in thepast fiscal year, as improved demand in mainland China failed to compensate forsustained sluggishness in Hong Kong.Revenue fell 3.6% to $438 million (HKD 3.41 billion)...
Retail May 23, 2017 Rapaport News
Sotheby's GBP 10 diamond
Sotheby’s to Auction $13 Diamond
A diamond ring bought for a pittance inthe 1980s is set to appear at a Sotheby’s auction next month with a price tagthat’s up to 35,000 times higher.The buyer acquired the cushion-shaped, 26.27-carat, I-color,VVS2-clarity diamond for $13 (GBP 10)...
Polished Markets May 23, 2017 Rapaport News
Jennifer Ward Oppenheimer De Beers
De Beers Mourns Jennifer Oppenheimer
Jennifer Ward Oppenheimer, who served as head of De Beers’ philanthropic arm, has died at the age of 50. She suffered from a brain tumor, SouthAfrican newspaper Business Day reported last week. Ward Oppenheimer graduated magna...
Mining May 23, 2017 Rapaport News
Diamond inspection 140
Hong Kong Dealers Face Random Synthetics Checks
Hong Kong’s diamond-promotion body plans to start checking wholesalers’ inventory for synthetics, as part of a program aimed at boostingconsumer confidence and giving retailers better peace of mind.The Diamond Federation of Hong Kong, China (DFHK) has been...
Polished Markets May 22, 2017 Joshua Freedman
Ekati Mine
Untapped Ekati Pipe May Hold 16M cts.
Dominion Diamond Corporation has discovered an estimated16.3 million carats of diamonds in an undeveloped section of its Ekati mine inCanada.The miner recovered a parcel of 224 carats from about 680tonnes of kimberlite at the Leslie pipe, its highest-priority area...
Mining May 22, 2017 Rapaport News
Waldorf Astoria NY
US Polished Imports Slip in March
Polished diamond imports to the US fell 3% to $1.99 billion inMarch, according to government data.By volume, polished imports slid 10% to 970,953 carats,while the average price of imports rose 8% to $2,045 per carat. Israel’sexports to the US jumped 13%...
Mining May 21, 2017 Rapaport News
theo fennell Store
Theo Fennell Hands Control to Rescuers
UK jeweler Theo Fennell has entered administration, almostfour years after a private equity group acquired the high-end retailer.Administrators from professional-services firm BDO havealready received “a number of expressions of interest” since their appointmenton Friday, BDO...
Retail May 21, 2017 Rapaport News
Michael Rawlinson NAJ
Head of UK Jewelry Body Steps Down
Michael Rawlinson has resigned as CEO of the UK’s NationalAssociation of Jewellers (NAJ) to pursue other interests, the tradeorganization said Friday.Rawlinson (pictured) took charge of the NAJ in 2015, whenthe British Jewellers’ Association (BJA) and the...
Retail May 21, 2017 Rapaport News
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