RAPAPORT... Revenue and profit at Titan Company rose as the retailer sawgrowth across all its businesses in thesecond fiscal quarter. Sales increased 2% to INR 46.93 billion ($657.7 million), including at subsidiaries, inthe three months ending September 30, while profit climbed 4% to INR 3.12billion ($43.7 million), the Indian company said last week. Jewelry sales wereflat at INR 36.5 billio...Read More
RAPAPORT... Israel's polished-diamond exports fell 21% to $2.62 billionin the first nine months of the year, according to data from the nation'sMinistry of Economy. Shipments to the US, Israel's largest export market,dropped 14% to $1.13 billion, while supply to Hong Kong slid 46% to $577million.Israel Trade Data for Jan-Sep 2019 Read More
RAPAPORT... Weak rough-diamond demand led to a drop in profit at Alrosa in the third quarter, the Russian miner reported. Profit slid 44% to RUB 13.5 billion ($211.6 million) for thethree months ending September 30, as revenue faltered and the company's margin fell it said lastweek. Sales decreased 37% to $611 million, as proceeds from bothrough and polished diamonds declined. Rough sa...Read More
RAPAPORT... Forevermark has opened its first boutique in the US, inpartnership with the owners of Padis Jewelry."In opening our first Forevermark boutique, consumers willbe able to more deeply experience and appreciate the full journey of aForevermark diamond," Forevermark US president Charles Stanley said last week. The De Beers-owned brand opened the store in Walnut Creek, California as a j...Read More
RAPAPORT... Jewelry sales at Richemont increased 8% in the first fiscalhalf, even as the company faced a challenging market in Hong Kong. Jewelry proceeds at Cartier and Van Cleef & Arpels roseto EUR 3.74 billion ($4.12 billion) in the six months ending September 30,while watch sales grew 1% to EUR 1.57 billion ($1.73 billion), Richemontreported Friday. Cartier's Love and Juste un Clou j...Read More
(IDEX Online) - Alrosa has debuted a pilot digital tender program that gave buyers access to a full digital scan of each rough diamond for sale. To do so, the mining company used various tools and technology from Sarine Technologies, including Sarine's Galaxy inclusion mapping and DiaExpert planning.The scans give information about each rough diamond's detailed external shape, internal i...Read More
(IDEX Online) - The Women's Jewelry Association (WJA) has debuted a new learning program, "Negotiable," to help its members build their ability to negotiate a promotion, a better vendor contract or higher sales.The program includes videos, assessments and worksheets and is part of the organization's Gender Equality Project. Data shows that women make the vast majority of purchase de...Read More
(IDEX Online) - Alrosa has announced that revenue for the third quarter of 2019 dropped 20 percent to 46 billion rubles ($721.3 million) compared to the previous quarter. Sales were down 23 percent in the quarter. Year-over-year, revenue dropped 35 percent while sales dropped 5 percent. Alrosa also sold a higher volume of small-size diamonds, which contributed to the fall in revenue. In...Read More
RAPAPORT... Israel's polished-diamond exports fell 21% to $2.62 billionin the first nine months of the year, according to data from the nation'sMinistry of Economy. Shipments to the US, Israel's largest export market,dropped 14% to $1.13 billion, while supply to Hong Kong slid 46% to $577million.Israel Trade Data for Jan-Sep 2019 Read More
RAPAPORT... Jewelry sales at Richemont increased 8% in the first fiscalhalf, even as the company faced a challenging market in Hong Kong. Jewelry proceeds at Cartier and Van Cleef & Arpels roseto EUR 3.74 billion ($4.12 billion) in the six months ending September 30,while watch sales grew 1% to EUR 1.57 billion ($1.73 billion), Richemontreported Friday. Cartier's Love and Juste un Clou j...Read More
RAPAPORT... Revenue and profit at Titan Company rose as the retailer sawgrowth across all its businesses in thesecond fiscal quarter. Sales increased 2% to INR 46.93 billion ($657.7 million), including at subsidiaries, inthe three months ending September 30, while profit climbed 4% to INR 3.12billion ($43.7 million), the Indian company said last week. Jewelry sales wereflat at INR 36.5 billio...Read More
Those involved in the build-up to the Kimberley Process (KP) plenary meeting to be held in New Delhi, India, later this month, are experiencing “whirlwind days”, the World Diamond Council (WDC) said in a blog post this week.The KP plenary meeting will open on November 18 and conclude on November 22.AdvertisementWith a range of critical issues as yet unsettled, participants are sharing...Read More
Angola should produce 14-million carats of diamonds between now and 2022. This was reported by Empresa Nacional de Prospecção, Exploração, Lapidação e Comercialização de Diamantes de Angola (the National Company for the Prospecting, Mining, Polishing and Commercialisation of Diamonds of Angola – better known as Endiama) president Ganga...Read More
The diamond pipeline appears to be heading towards a balance again, as the world’s major producers had reduced supply by a quarter since the beginning of the year, the CFO of Russian miner Alrosa said on Friday.Commenting on the company’s third-quarter and nine-month results, Alexey Philippovskiy said that the oversupply of polished diamonds and the “challenging situation”...Read More
Sentiment improving afterDe Beers reduced rough prices 5%-7% at Nov. sight. Better demand for RapSpecA3+ polished, driven by US holiday orders. Chinese demand and reduced supplysupporting 0.30 to 0.50 ct. D-G, IF-VS categories. Potential US-China tradedeal boosts expectations for Chinese New Year. 1 ct. RAPI -0.1% in Oct.; 0.30ct. RAPI +1.5%. Surat manufacturers on Diwali vacation and expected to...Read More
Mumbai market still not fully operational asdealers return from Diwali vacation. Surat factories closed for another week ortwo.Dealers focused on filling US orders and select demand from China.Shortage of top-quality SIs due to reduced manufacturing. Cutters hoping forbetter profit margins after Diwali break following De Beers rough price cuts. RoundRead More
RAPAPORT... Prices of yellow diamonds decreased in the thirdquarter, driving down the overall fancy- color index even while pinks and bluesremained steady, the Fancy Color Research Foundation (FCRF) said. The index for yellows fell 1.5% quarter on quarter for the threemonths ending September 30, and 4.9% year on year, according to the FCRF, whichreleased its quarterly Fancy Color Diamond Inde...Read More
(IDEX Online) - Hong Kong- based Sightholder KGK formally inaugurated its new cutting plant in Luanda, Angola earlier this week. This is the country's fourth diamond-cutting plant and is a partnership between KGK (65 percent), UST (30 percent) Sodiam EP 5 percent and UST (30 percent), reports the Angolan press agency. The partners have already invested $5 million out of a planned $2...Read More
RAPAPORT... KGK Diamonds has become the fourth company to open acutting factory in Angola as part of a national project to boost localmanufacturing, the government said in a post on its Facebook page Monday. The Hong Kong-based sightholder launched the operationtwo months ago, with a formal ceremony taking place Monday in the presence ofDiamantino Azevedo, the minister of minerals, resources...Read More
RAPAPORT... Tiffany & Co. has asked LVMH Mo?<