Diamond stocks Articles

Judge Orders Signet to Face Securities-Fraud Lawsuit Filed By Shareholders

December 05, 18 / Albert Robinson

(IDEX Online) - A federal judge in New York has ordered that Signet Jewelers Ltd. face a securities-fraud lawsuit filed by shareholders alleging the company misled them about the performance of its credit portfolio and allegations of sexual discrimination.   The lawsuit was filed by Public Employees Retirement System of Mississippi with which District Judge Colleen McMahon agreed.   The...Read More

Zimbabwe to allow two new companies to mine diamonds

5th December 2018 / Reuters     

HARARE – Zimbabwe will now allow two more private companies to explore and mine diamonds in the country, bringing to four the number of firms that will operate in the sector, mines minister Winston Chitando has said.Last week Chitando said the country did not plan to change its ownership rules for diamonds and platinum, denting hopes among some miners the country will open up ownership as it...Read More

Innovate and generate cash at same time - Dassault Systmes Geovia  

5th December 2018 / Martin Creamer     

JOHANNESBURG (miningweekly.com) – The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.Ahead of the company’s National Resources F...Read More

Signet Fixes Data Issue at Kay, Jared

Dec 05, 2018 / Rapaport News

RAPAPORT... Signet Jewelers has repaired a configuration bug on theorder pages of subsidiaries Kay and Jared that accidentally exposed the personalinformation of customers who purchased online. A Jared customer contacted Signet last month after noting hecould see other buyers' order information by slightly modifying the link in hisown confirmation email. The accessible data included names, billing...Read More

eBay to Authenticate Luxury Jewelry

Dec 05, 2018 / Rapaport News

RAPAPORT... E-commerce giant eBay will expand its luxury-goods authenticationservice to more than 45,000 jewelry products on its platform, it said. Third-party authentication experts will verify the items,which it sources from some of the site's highest-rated vendors, the retail company saidMonday. The service, eBay Authenticate, will cover items including engagementrings, wedding bands, and loose...Read More

Diamond Brands Shun Traditional Holiday Ads

Dec 05, 2018 / Leah Meirovich

RAPAPORT... Diamond advertising has well and truly departed fromtraditional styles, this year's holiday commercials suggest. Gone are the daysof the De Beers campaigns targeting men buying a diamond for his fiance.The major retailers have taken a much more experimentalapproach, with Tiffany & Co. creating an eccentric video that featuresactress Zo Kravitz, while Signet Jewelers' brands ha...Read More

Sales Rise at India's Asian Star

Dec 04, 2018 / Rapaport News

RAPAPORT... Sales and profit grew at Indiandiamond manufacturer Asian Star in the second fiscal quarter amid improvedjewelry exports and a strong performance at its Dubai trading unit.The Mumbai-based group saw strong margins in its jewelry division, especially the export business, Pranav Kapadia, Asian Star's chief manager for accounts and tax, told Rapaport News. It also enjoyed a robu...Read More

Chow Tai Fook, Swarovski Back Sourcing Program

Dec 04, 2018 / Rapaport News

RAPAPORT... Chow Tai Fook and Swarovski have led a consortium ofinvestors in a digital jewelry program that claims to reduce sourcing time byup to 80%. Atelier Technology - which launched in January - aimsto connect the supply chain and eliminate unnecessary administration, therebybringing more products to market at a faster rate, it said Tuesday. Five jewelershave made an undisclosed investm...Read More

18ct. Diamond Smashes Estimate at Bonhams

Dec 04, 2018 / Rapaport News

RAPAPORT... An 18.04-carat diamond fetched $828,500 at Bonhams on Monday,exceeding its presale estimate of $400,000 to $600,000, Bonhams said Tuesday. The emerald-cut, G-color, VS2-clarity ring flanked bytrillion-cut diamonds led the company's New York Fine Jewelry sale. Itwas the first time the stone - which was from a private collection - had appearedat auction. "We saw some fierce bidding...Read More

Small-Diamond Slump to Pressure Manufacturers

Dec 04, 2018 / Rapaport

RAPAPORT PRESS RELEASE, December 4, 2018, New York... The sharp decline in prices of small, low-value diamonds will exert further pressure on India's manufacturing sector, according to the latest issue of the Rapaport Research Report. Prices in some categories have dropped by up to 20% in 2018 due to an oversupply and weaker demand.The report, "A Crisis in Melee," outlines four factors influe...Read More

Chow Tai Fook Reports 20% Revenue Increase, Profits Up 9%

December 04, 18 / Albert Robinson

(IDEX Online) - Chow Tai Fook Jewellery Group Limited posted a 20% increase on the year in revenue to HK$29.7 billion ($3.8 billion) in its interim results for the six months ended 30 September.   The jeweler said the results were due to stabilizing consumer demand and reviving Mainland [China] visitation which fuelled the jewelry market.   Profit increased by 8.8% to HK$1.94 billion (...Read More

Hong Kong Posts Rise In Sales Of Jewelry, Watches, Valuable Gifts

December 04, 18 / Staff Reporter

(IDEX Online) - Sales of jewelry, watches, clocks and other valuable gifts in Hong Kong increased by 3.3% on the year in October to HKD 6.868 billion ($878 million), reported the Census and Statistics Department.   The rise was higher than that recorded in September when Typhoon Mangkhut hit Hong Kong and the increase in jewelry sales was 2.2%.   For the first 10 months of this year, th...Read More

WFDB Blom: Indications of Strong Industry End-Of-Year Results

December 04, 18 / Albert Robinson

(IDEX Online) - World Federation of Diamond Bourses (WFDB) President Ernie Blom says the diamond and jewelry industries appear to be heading for a strong end of the year according to import and export figures and other reports in recent weeks.   India recently reported a 19-percent rise in exports in October in its latest results, while Belgium posted a 17-percent increase. Meanwhile, US ret...Read More

Diamcor sells 2 979 ct in November tender

4th December 2018 / Marleny Arnoldi     

TSX-V-listed Diamcor sold 2 979 ct of rough diamonds for $653 652 in its November tender.That equates to an average price of $218/ct.AdvertisementThe diamonds were recovered from resumed processing exercises at the company’s Krone-Endora at Venetia project, in South Africa’s Limpopo province.Most of the material processed comprised smaller size fractions, in addition to a low percentag...Read More

Lightbox to Launch Rings and Bracelets

Dec 03, 2018 / Joshua Freedman

RAPAPORT... De Beers plansto expand its Lightbox product offering next year after observing strong consumer interest in its rollout of synthetic-diamond jewelry.The company hopes to introduce stackable rings in the latter part ofthe first quarter, Sally Morrison, Lightbox's chief marketing officer, confirmedto Rapaport News Monday. Bracelets will then come onto the market laterin 2019. John...Read More

PC Jeweller Curbs Exports in Credit Crunch

Dec 03, 2018 / Leah Meirovich

RAPAPORT... PC Jeweller plans to reduce its exports by more than aquarter during the current fiscal year as it looks to minimize its credit needsin a tighter Indian lending market. The company receives payment for exports several monthsafter a transaction, and therefore has to take bank loans to buy raw materialsand support the business, Sanjeev Bhatia, PC Jeweller's chief financialofficer, t...Read More

Hong Kong Luxury Sales Rise in October

Dec 03, 2018 / Rapaport News

RAPAPORT... Sales of jewelry and other luxury goods in Hong Kong beganto rebound in October after a typhoon drove tourism rates down theprevious month. October sales grew 3.3% year on year to HKD 6.87 billion($878.2 million) for jewelry, watches, clocks and other valuable gifts,according to data the Census and Statistics Department released last week.Total retail sales in Hong Kong increased 6% to...Read More

Diamonds and Gemstones on Agenda of Guangzhou Jewelry & Diamond Conference

December 03, 18 / Albert Robinson

(IDEX Online) - The International Jewelry & Diamond Conference (Guangzhou) 2018 organized by Guangzhou Diamond Exchange and Guangdong Gems & Jade Exchange and co-organized by the Antwerp World Diamond Centre (AWDC) was held last week.   More than 600 delegates from Brazil, Thailand, India, the U.S., Ukraine, Senegal, Belgium, Britain, the Netherlands, Lebanon, Canada, Singapore, Bots...Read More

53M Americans to Buy Diamonds From Thanksgiving to Valentine's Day

December 03, 18 / Albert Robinson

(IDEX Online) - A survey released by the Diamond Producers Association (DPA) and KRC Research found that over 53 million Americans (21%) plan to purchase a diamond between Thanksgiving and Valentine's Day, with men and millennials most likely to purchase them.   Of those who plan to buy a diamond, more than 20 million plan to buy a diamond engagement ring.   The survey confirmed that the...Read More

Hong Kong Jewelers Warn of Slowdown

Dec 02, 2018 / Rapaport News

RAPAPORT... Hong Kong's largest jewelry retailers expect sales growth to slow during the important holiday season in light of recent US-China trade tensions and the depreciation of the yuan currency.Same-store sales at Luk Fook dropped by a single-digitpercentage in Hong Kong and Macau in October and the first three weeks of November, and by double digits in mainland China, the company reported la...Read More