RAPAPORT... The prevailing panic surrounding the rise of lab-grown diamonds is overshadowing the bigger challenge facing the diamond market: There is no profit in the trade. This long-term challenge is reaching crisis levels, as manufacturers lack liquidity and are reducing prices to raise cash. Banks are applying pressure on them to repay their loans and are hesitant to extend additional credit.T...Read More
RAPAPORT...The Jewelers' Security Alliance (JSA)has issued a "code red" warning ahead of Thursday's July 4celebrations in the US. The New York-based association,which provides crime information andassistance to jewelers across America, has warned that power interruptions atjewelry stores is a "red flag" for a break-in. Holidays such as July 4 areparticularly "high-risk," it said in a crime alert l...Read More
RAPAPORT... UK-based consultancy Levin Sources haslaunched a responsible-sourcing service for small to medium-sized (SME)jewelers. Developed to support SME jewelers inestablishing ethical-sourcing policies and procedures, the new proposition was formallyinaugurated on June 27, to coincide with Micro-, Small and Medium-SizedEnterprises (MSME) Day. The service, which has already beenrolled out to tw...Read More
RAPAPORT... Retail sales in Hong Kongare set to fall by 5% in 2019, with the decline expected to be even sharper inthe luxury-goods market, which includes jewelry. The new estimate, publishedlast week by PricewaterhouseCoopers (PwC), is a downgrade on its previousforecast. The advisory firm had anticipated that Hong Kong's retail sales woulddip by 3%. Reasons cited for the lower forecastinclude th...Read More
New patents that aim to eliminate fraud, improve traceability and revive the availability of finance in the diamond industry have been filed by Scarselli Diamonds, a polished diamond traders and jewelry consignee to the trade, and Benoit J. P. Flammang, Founder and Chief Executive Officer of Beninvest & Associates. The patents center on DiamTek, a solution using permanent nano-laser tag...Read More
"I walked into the AGTA office twenty-two years ago and Mary Lou had already been with AGTA for nearly a decade. I quickly learned that Mary Lou was truly the "face" of AGTA to many, if not all of our members. And she was universally adored. That adoration stems from the person she is. A consummate professional, a vigorous champion of our members and the association, and honestly the most kin...Read More
PNG Jewellers have partnered with Forevermark, the diamond brand from the De Beers Group, to retail Forevermark diamonds across all their stores in India. The synergy of these two brands has brought about an ideal collaboration over the past few years to offer hallmark diamond jewelry. To highlight this partnership, PNG Jewellers have created an exclusive line of jewelry called the 'Fab5...Read More
The blogsite "Big Think" reported that scientists from the Yokohama National University in Japan had succeeded to "teleport" quantum information within a diamond. Their study is an important step in the field of quantum information technology. Hideo Kosaka, the Yokohama National University researcher who led the study, explained that the goal was to get data where it doesn't normally go. "Qua...Read More
Top US jewelry etailer Blue Nile has blacklisted Zimbabwean diamonds over reports of human rights abuses in Manicaland's Marange district. On its website Blue Nile says: "Blue Nile is committed to ensuring that the highest ethical standards are observed when sourcing our diamonds and jewelry. Because of the reported human rights abuses in Zimbabwe's Marange diamond district, Blue Nile wi...Read More
The International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses have agreed for the 39th World Diamond Congress to take place in Hong Kong, November 2-5, 2020. "We are very pleased that we have been able to close the dates for the World Diamond Congress which takes place every two years," said IDMA President Ronnie VanderLinden and WFDB President Ernie B...Read More
RAPAPORT... As the who's who in the glitzy world of high-valuediamond auctions gathered in Geneva in May, there was an understated tone tothis year's pilgrimage to the Swiss city. While Sotheby's and Christie's playedup their offerings of magnificent jewels, which usually boost market sentimentwith the records they set, dealers approached the sales with some trepidation.The big-stone market,...Read More
RAPAPORT...A delegation from Jewelersof America (JA) has met with US lawmakers and congressional staff to discuss trade and tax concerns affecting its members. Themeeting, which took place on Capitol Hill in Washington, DC, on June 19, was led by theJewelers of America Political Action Committee (JAPAC). It was the ninth in aseries of annual advocacy "fly-ins" by the committee. Theevent covered to...Read More
RAPAPORT... The Gemological Instituteof America (GIA) will offer remote learning to students in China, expanding its collaborationwith ShanghaiJiao Tong University (SJTU). The GIA's distance-educationprograms will allow participants to access equipment and gemstones in self-studystudent workrooms at SJTU, enabling them to complete the courses' practicalaspects. "Education is thecornerstone of GIA'...Read More
RAPAPORT PRESS RELEASE, July 2, 2019, Las Vegas ... Diamond market sentiment was weak in June due to sluggish demand and tightening manufacturing profits. Suppliers are reducing prices to raise liquidity, as they're under pressure from banks to repay their loans. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds fell 1.4% during the month and 3.1% in the first half of the year. The index is...Read More
The Gemological Institute of America (GIA) distance education programs, including student workrooms, will be available in China through a cooperative program at Shanghai Jiao Tong University (SJTU). GIA's Graduate Gemologist (GG), Jewelry Design, accelerated Graduate Diamonds and accelerated Graduate Colored Stones programs are already available on campus at SJTU. Prospective students will no...Read More
RAPAPORT... Trans Hexhas issued a warning about its capacity to continue as a going concern, stating there was"material uncertainty" around its ability to fund its short-term liquidityrequirements. The notificationcomes amid continued operating losses for the business. Trans Hexrecorded a loss of ZAR 9.3 million($654,592) for its South African operations during the 2019 fiscal year ending March 31...Read More
RAPAPORT... ABSA Bank has granted Firestone Diamonds a waiver after adrop in small-diamond prices put the miner at risk of breaching its loan covenants. The terms of Firestone's $82.4 million loan from ABSA included assumptions about estimated future diamond values. Weakness in thesmall-diamond market resulted in the company's average selling price falling to$74 per carat in the nine months ending...Read More
This month, Jewelers of America (JA) is breaking ground with its first National Convention. Advocating for independent jewelers, JA's upcoming program will delve deeply into what is happening in Washington D.C. By bringing leading experts into the room, Jewelers of America is creating a transparent conversation, preparing retailers for happenings on the Hill that could affect their busi...Read More
JCK Las Vegas, the jewelry industry's largest and show in North America, wrapped up its 2019 edition with a few lists and summaries. This year's JCK Las Vegas show hosted 2,200 exhibitors and some 30,000 industry professionals, including over 13,000 approved, who arrived from more than 100 different countries in the world. The JCK show featured designers and manufacturers, innovative te...Read More
Rio Tinto's diamonds business is celebrated its 30 years of work in and with India this month. The Indo-Argyle partnership with the Indian diamond industry include the launch of the Indo Argyle Diamond Council in 1993 to create awareness and acceptance of Indian-made diamond jewelry in the US. This paved the way for direct sales to US retailers and the Ro Tinto's business excellence mode...Read More