RAPAPORT... India's polished-diamond exports slid 18% year on year inJuly, reaching their lowest level since December 2018. The decline reflected aslowdown in the midstream sector as manufacturers struggled to offload excess goods. Rough trading alsodropped significantly, according to data from the Gem & Jewellery ExportPromotion Council. India Trade Data for July 2019Read More
RAPAPORT... Sarine Technologies saw a sharp decline in revenue duringthe second quarter, as an oversupply in the midstream led to lower sales of manufacturing equipment. Sales fell 35% year on year to $11.6 million for the threemonths ending June 30, the Israel-based company said last week. Revenue fromIndia -Sarine's largest market - dropped 32% to $8.2 million. Sales inAfrica plunged 63% to...Read More
RAPAPORT... India's polished-diamond exports slid 18% year on year inJuly, reaching their lowest level since December 2018. The decline reflected aslowdown in the midstream sector as manufacturers struggled to offload excess goods. Rough trading alsodropped significantly, according to data from the Gem & Jewellery ExportPromotion Council. India Trade Data for July 2019Read More
RAPAPORT... Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018, according to research and advisory firm CoresightResearch, which estimates that the total could climb as high as 12,000 by theend of the year.With...Read More
RAPAPORT...The stability of the diamond industry is largely in thehands of 122 manufacturers and dealers that buy rough on a contractual basis. Many of the sector's current problems have resulted from too much rough entering the market in the past two to three years. Most of that supply is provided through the long-term sales programs that De Beers, Alrosa,Dominion Diamond Mines and Rio Tinto...Read More
RAPAPORT... Sales and profit at Kingold Jewelry decreased in the secondquarter as the China-based gold supplier noted a decline in demand for itsbranded jewelry. Total revenue dropped 12% year on year to $598 million inthe three months ending June 30, the manufacturer and designer of jewelry,ornaments and investment products said last week. Profit fell 7% to $12.6million. The decrease in sal...Read More
RAPAPORT... Lucara Diamond Corp.'s profit fell in the second quarteramid an increase in the production of smaller stones from its Karowe mine,which yielded a lower average price. Profit declined to $700,000 in the three months ending June30, compared with $19.7 million during the same period the year before. Revenuefrom the Botswana deposit dropped 34% year on year to $42.5 million, even assa...Read More
RAPAPORT... Alrosa's July sales slumped to their lowest point in three years, as weakness in the rough market continued to impact demand. The Russian miner's total sales slid 50% to $170.5 millionfor the month, it reported Friday. Rough-diamond sales, which account for thebulk of the company's revenue, dropped 51% to $164.6 million. Polished salesincreased 11% to $5.9 million. Pre...Read More
The online edition of the Windhoek Observer reported that the review panel of the Central Procurement Board (CPB) has rejected an appeal that was filed by Prestige Diamond and Global Diamond Valuators Namibia, with regard to the awarding of the diamond valuation tender to Gem Diamonds Namibia. The panel decided in past July that there was no legal merit to the filed appeal. "Alternatively, the Rev...Read More
The Alrosa Group, the world's larhets diamond miner in volume, shared its diamond sales data for past July and the first seven months of 2019. Alrosa's sales for July 2019 stood at $170.5 million. Rough diamond sales came to $164.6 million, while polished diamond sales reached the $5.9 million mark. In the first seven months of the year, Alrosa sold $1,981 billion: $1,948.7 billion of ro...Read More
Sometimes life's important lessons are learned doing the most menial tasks. Editor's Note: This editorial ran several years ago, but is worth repeating. I no longer own the ISG as it is now the IIJA, a 501(c)3 non-profit entity since I donated the school to serve the industry. And I certainly don't make a six-figure income anymore, but that is my choice also. However, the story belo...Read More
"De Zeen" website reports on a Louis Vuitton exhibition that showcases its collaborations with leading artists over the past 160 years, complete with custom bags and a tropical pop-up shop. The Louis Vuitton X exhibition can be seen at 468 North Rodeo Drive building in Beverly Hills, Los Angeles. It has 180 items from the French fashion house's archive on display. The items are displaye...Read More
The closure of the world's biggest diamond mine ???,?" Argyle, in the Kimberly region of northern Australia - has drawn the attention of the international business press. In July, Bloomberg's diamond specialist Thomas Biesheuvel and his colleague David Stringer wrote an extensive piece about it. Argyle, "famed more for the fistful of coveted pink and red gems it yields each year th...Read More
RAPAPORT... Long before the threat of tariffs on Chinese goods loomed large,brick-and-mortar retailers in the US were facing challenges. So far this year,US retailers have announced plans to shut down over 7,000 stores after almost6,000 closed in 2018, according to research and advisory firm CoresightResearch, which estimates that the total could climb as high as 12,000 by theend of the year.With...Read More
Stuller Inc., the giant, Lafayette, Louisiana-headquartered merchandise and services supplier for jewelry professionals worldwide, announced it has appointed two new vice presidents. Brian Henderson joins Stuller as the new vice president of marketing and Alix Gonsoulin has been promoted to vice president of bridal, fine jewelry, and findings. Henderson, who relocated to Lafayette, has worked for...Read More
Shifting relationship dynamics, changing perceptions of femininity and the fast adoption of e-commerce channels are paving the way for increased diamond jewelry consumption in China, according to Mabel Wong McCormick, managing director of Diamond Producers Association (DPA) in China. "Expanded symbolism for diamond jewelry indicating a wider range of 'moments' in life will give rise to m...Read More
Content: At Vicenzaoro September 2019, the topic of its "VISIO.NEXT" program will be "Spreading Sustainability." The program introduces show visitors to the topic and "culture of sustainability, communicating the importance and looking at the best and most effective practices for embarking on an entrepreneurial course heading in this direction." Among the topics covered will be the problem...Read More
The 36th edition of India International Jewellery Show (IIJS) opened on Thursday, August 8th, albeit it only for those who had received an exclusive invitation for "Preview Day - By Invitation Only." On Friday August 9 the show floors were opened to all the registered participants. The IIJS will run until Monday August 12. The chief sponsor of the show, the Gem & Jewellery Export Promo...Read More
Continuous developmentand improvement inairborne geophysics technology provider Spectrem Air’s geophysical surveytechnology makes thecompany’s SPECTREM plus system platform ideal for exploration and mappingof deep geology in difficultconditions in Australia, says Spectrem Air GM Louis Polomé. “An upgrade in theplatform’s power systemand changes in sensor design make...Read More
Diamond trade slow due to seasonal lull andmarket uncertainty. US jewelry sales compensating for weakness elsewhere, but retailersholding less inventory. New US tariffs on China imports to impact jewelers morethan diamantaires. Trade war affecting confidence as stock-market wealthdeclines, with Dow -3% (August 1 to 7). Political protests creating concern forimportant Hong Kong show. Yuan's devalua...Read More