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Rapaport Weekly Market Comment
Diamond trade optimistic asholiday season begins, with online sales growth expected over Thanksgivingweekend. Mall-based retailers and department stores offering heavy discounts toentice customers. New ‘Real is Rare’ marketing targets older millennialssearching for intimacy and stability. Signet Jewelers’ shares -30% as 3Q sales-3% to $1.2B,...
Polished Markets Nov 23, 2017 Rapaport News
India Arch
Rapaport Weekly Indian Market Report
Trading improving. Good US demand for 1 ct., G-H, VS2-I1 diamonds and steady Chinese orders for dossiers. Polished inventory reduced since Diwali break. Manufacturing rising but not yet at pre-Diwali levels. Cutters concerned...
Research Nov 23, 2017 Rapaport News
Industry Stock Ticker Stock Image
Rapaport Diamond Industry Stock Tracker
Signet (-28%) was the weakest performer out of major USretail and jewelry stocks this past week after the company reported lower-than-expectedearnings. Birks Group (-27%) also fell after sluggish consumer sentiment inCanada...
Financial-Legal Nov 23, 2017 Rapaport News
Rapaport TradeWire November 23, 2017
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Research Nov 23, 2017 Rapaport
Richa Singh DPA
Ex-L’Oréal Exec to Drive India Diamond Campaign
The Diamond Producers Association (DPA) has hired formerL’Oréal executive Richa Singh as its managing director for India.Singh (pictured), who assumed the role last month, will lead the organization’s efforts to raise consumer...
Marketing Nov 23, 2017 Rapaport News
India gemologist inspecting gemstone
India’s Diamond Trade Slows in October
India’s diamond trade showed a significant slowdown inOctober as dealers and manufacturers took vacation for the Diwali festival. Polished-diamond exports slid 23% to $1.93 billion, according to data recently published by the Gem & Jewellery...
Polished Markets Nov 23, 2017 Rapaport News
Gem Diamonds Letseng 202ct rough diamond Nov 2017
Letšeng Finds Seventh Big Diamond of the Year
Gem Diamonds recovered a 202-carat rough diamond at its Letšeng mine in Lesotho, bringing the number of100-carat-plus stones the company has found this year to seven, it said Wednesday. The recovery of the D-color,type-IIa diamond comes...
Mining Nov 23, 2017 Rapaport News
Chow Tai Fook
Robust Gold Demand Drives Chow Tai Fook Growth
Chow Tai Fook’s revenue leapt 15% in the first fiscal half amidrising demand for gold products in Greater China. Group sales of $3.17 billion (HKD 24.75 billion) for the sixmonths to September 30 included $1.47...
Mining Nov 22, 2017 Rapaport News
De Beers Namibia vessel ship workers
Debmarine Splashes $142M on Diamond Ship
De Beers is planning to add the world’s largestcustom-built diamond-mining vessel to its fleet at a cost of $142 million. The ship will be the sixth belonging to DebmarineNamibia, a 50:50 joint venture between the miner and the Republic of Namibia,...
Mining Nov 22, 2017 Rapaport News
Kay Jewelers Signet
Signet Cuts Forecast as Hurricanes Hurt Sales
Signet Jewelers’ sales fell in the third fiscal quarter dueto hurricanes in the US and disruptions related to changes in the retailer’scredit services.Group sales slipped 2.5% and same-store sales — at outletsopen for at least a year — dropped 5% in the...
Retail Nov 21, 2017 Rapaport News
Hong Kong
Hong Kong Polished Shipments Rise
Hong Kong’s polished-diamond imports grew slightly in thethird quarter, recent data from the municipality’s trade body showed.Shipments into the hub increased 0.6% to $4.71 billion during the period ending September 30, according...
Polished Markets Nov 21, 2017 Rapaport News
Swiss watches Rolex Breitling
Asia Keeps Swiss Watch Recovery on Track
Swiss watch exports grew in October as demand from key Asianmarkets continued its recent upward trend.Total shipments increased 9% year on year to $1.86 billion (CHF1.85 billion) for the month, according to data the Federation of the...
Watches Nov 21, 2017 Rapaport News
Peace Diamond
Story of the Peace Diamond: It Takes a Village
Negotiations began immediately when Komba John-Bull and his four coworkers arrived at Pastor Emmanuel Momoh’s home on that fateful night on March 13, 2017. The team of diamond diggers was confident they had something...
Mining Nov 20, 2017 Avi Krawitz
Alrosa Mir rescue operation
Alrosa Fires Two Executives over Flood
Alrosa has dismissed two senior executives after acommission identified safety failings that resulted in the Mir mine flood inAugust. The Russian company fired Mikhail Lopatinsky, director ofthe Mirny mining and processing...
Mining Nov 20, 2017 Rapaport News
Mazalit payment app
Start-Up Gets Funds for Payment App
An Israeli startup is set to receive up to $1.2 million frominvestors to launch a mobile payment app that will help diamond traders closedeals on the spot, without needing to wait for funds to clear. Mazalit will enable users to finalizepayment...
Financial-Legal Nov 20, 2017 Rapaport News
Yellow diamonds Bonhams Nov 2017
Historic Yellow Diamonds Up for Auction
Five storied fancy vivid yellow diamonds with a historicalconnection to the Cullinan family will go under the hammer in London next month.Three of the diamonds, which are step-cut and weigh 5.29carats, 3.11 carats and 2.37...
Polished Markets Nov 20, 2017 Rapaport News
Real is a Diamond image Nov 2017
New Diamond Ads Refocus on Love Moments
The Diamond Producers Association (DPA) has shifted to shortervideo advertisements for the holiday season as it aims to market diamonds bycapturing precious moments in couples’ relationships.Rather than telling more involved stories, as the DPA’sinitial videos did,...
Marketing Nov 20, 2017 Rapaport News
De Beers DTC sight boxes
De Beers, Alrosa Announce 2018 Sale Schedules
De Beers and Alrosa have released dates of theirrough-diamond sales for 2018, with both miners maintaining their usualschedules. De Beers holds 10 sales, or sights, in Botswana every year,in which it sells about 90% of its rough supply...
Mining Nov 19, 2017 Rapaport News
ALROSA rough sorter
Mir Mine Flood Dents Alrosa Profit
Alrosa’s profit slumped in the third quarter as a fatalflood at the Mir mine forced the Russian company to devalue the asset.Net income fell 51% year on year to $219.6 million (RUB 12.95 billion) for the three...
Mining Nov 19, 2017 Rapaport News
Mark Boston
Industry Mourns Diamond Broker Mark Boston
Mark Boston, a much-loved rough-diamond broker credited withdriving forward India’s cutting industry, died last Monday at the age of 71.He passed away at Royal Trinity Hospice in London, havingdecided to stop treatment last month after an 11-year...
Rough Markets Nov 19, 2017 Rapaport News
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