RAPAPORT... On the first anniversary since the launch of Lightbox,Rapaport's Avi Krawitz sat with managing director Steve Coe at the JCK show inLas Vegas. Coe gives his perspective of the industry's response toLightbox, some insight into the brand's approach to the lab-grown-diamonddebate, and its plans moving forward.Image: Steve Coe, a Lightbox necklace, and De Beers'diamond-growing facility nea...Read More
RAPAPORT... JCK presented awards to winners of two design competitionsduring this year's Las Vegas show. Seven jeweler designers received a prize at the LuxuryDesign Awards, honoring designers and manufacturers who are innovative andoriginal, while displaying imagination and excellence in craftsmanship, JCKsaid Monday. Luxury partnered with six jewelry retailers to selectwinners for each cate...Read More
RAPAPORT... Fourteen jewelry designers havereceived the Manufacturing Jewelers & Suppliers of America (MJSA) VisionAward, which this year includes a new category for enamel distinction. The prizes, which honor outstanding creativity, craftsmanship and technological prowess, are given toboth professionals and students, the trade body said Tuesday. Winners receivecash and gift certificates...Read More
RAPAPORT PRESS RELEASE, June 5, 2019, LasVegas ... Diamond markets are under pressure as profit margins have tightenedand the trade war with China has fueleduncertainty. US jewelry sales arerobust, but the midstream is not profitableenough to support a sustainablesupply chain. The RapNet Diamond Index (RAPI?,,?) for 1-caratdiamonds fell0....Read More
RAPAPORT... The diamond industry must invest in new products andethically sourced natural diamonds to boost profitability and counter thegrowth of synthetics, Martin Rapaport, Chairman of the Rapaport Group, stressedat the annual Rapaport Breakfast in Las Vegas. "The diamond trade is not profitable enough to support asustainable supply chain," Rapaport said in an address to approximately 800d...Read More
The Venezuelan Ministers of Mining Ecological Development, V?-ctor Cano, and Indigenous Peoples Aloha N????ez met with 15 captains from the Pem??n tribe and, according to state media, reiterated that it is illegal to carry out mining activities in National Parks.According to official outlets, the Indigenous leaders from the southeastern Gran Sabana municipality presented Cano and N????ez with comp...Read More
RAPAPORT... Tiffany & Co.'s revenue and profit dropped in the first fiscalquarter amid a continued decrease in spending by foreign tourists and a strong US dollar, it said Tuesday. Total revenue fell 3% to $1 billion in the three monthsending April 30, while comparable-store sales - at branches open for at least ayear - declined 5%. Profit slid 12% to $125.2 million. "Our first-quar...Read More
RAPAPORT... Designer Jade Lustig of Jade Trau won the top Couture prizefor her double-banded diamond engagement ring on Saturday in Las Vegas. The jeweler received the Best in Bridal accolade at theCouture Design Awards. Fifteen awards were presented at the ceremony, whichtook place during the Couture luxury-jewelry show. Jade Trau also won the top honor for bridal in 2017, andwas one o...Read More
RAPAPORT... The JCK Las Vegas show ended Monday, with participants notinga decline in buyer traffic and exhibitors at this year's event. Sentiment amongdiamond suppliers was relatively weak, as buyers were conservative, and overalldealer trading was quiet."You can't come to this show and rely on foot trafficanymore. Neither can you expect to sell big volumes in the loose-diamond section,"explained...Read More
RAPAPORT... Alrosa is launching a source-of-origin program that will enable dealers and consumers to buy polished diamonds with detailed provenance information.The Russian miner will create an "electronic passport" for each diamond on a new website, diamonds.alrosa.ru, presenting the stone's physical characteristics, age, and place and date of extraction, as well as where and when it was cut....Read More
JOHANNESBURG (miningweekly.com) – Junior mining is badly in need of a policy framework that will kickstart activity, mining luminary Bernard Swanepoel said on Tuesday.Speaking to a packed 2019 Junior Indaba conference for explorers, developers and investors in junior mining, Swanepoel outlined how he had boldly stepped into the world of entrepreneurial junior mining after many years in the c...Read More
RAPAPORT... The JCK Las Vegas show ended Monday, with participants notinga decline in buyer traffic and exhibitors at this year's event. Sentiment amongdiamond suppliers was relatively weak, as buyers were conservative, and overalldealer trading was quiet."You can't come to this show and rely on foot trafficanymore. Neither can you expect to sell big volumes in the loose-diamond section,"explained...Read More
JOHANNESBURG (miningweekly.com) – The world’s top 40 mining companies continued to consolidate their performance of the past several years by delivering steady growth in 2018, PwC’s ‘Mine 2019’ report, published on Tuesday, states.Combined, these companies’ revenue had increased by 8% year-on-year, which PwC says was buoyed by higher commodity prices and margina...Read More
RAPAPORT... Benn Harvey-Walker makes a living as co-founder and directorof business development of Ethical Jewellery Australia, but he's made a namefor himself as a blogger who espouses the benefits of making the industry morethoughtful and less harmful to all involved. The bespoke retail jeweler,advocate, and watchdog in Brisbane, Australia, has earned a reputation as avoice of authority and reas...Read More
RAPAPORT... Retail sales of jewelry and other luxury items fell in HongKong in April due to cautious consumer sentiment and a slowdown in tourism. Revenue from jewelry, watches, clocks and other valuablegifts dropped 11% year on year to HKD 5.86 billion ($747.8 million), themunicipality's Census and Statistics Department reported last week. Sales inall retail categories slipped 4.5% to HKD 37...Read More
RAPAPORT... Lucapa Diamond Company garnered $10 million at its secondrough sale of 2019, achieving an average price of $1,800 per carat. The miner sold 5,573 carats at the tender, it said Monday.The diamonds are from the company's Lulo alluvial mine in Angola. Tender sales came to $22.1 million for thefirst half of 2019, at an average of $3,668 per carat. The miner held back some special sto...Read More
RAPAPORT... The RapNet community has voted overwhelmingly againstintroducing services for the lab-grown-diamond sector. Members voted by 79% to 21% against the trading platformlisting synthetics on the site. They also rejected a lab-grown pricelist, with 74% voting "no." The poll took place on RapNet last week. The audienceapplauded when Martin Rapaport, Chairman of the Rapaport Group, revealed t...Read More
ASX-listed diamond miner Lucapa on Monday announced that its latest sale from the Lulo alluvial mine, in Angola, had achieved gross revenues of $10-million, representing an average price of $1 800/ct.This took total half-year sales of Lulo diamonds to $22.1-million, achieving an average price of $3 668/ct.AdvertisementThe sale excluded several high-value diamonds which remain held in inventor...Read More
RAPAPORT... Retail sales of jewelry and other luxury items fell in HongKong in April due to cautious consumer sentiment and a slowdown in tourism. Revenue from jewelry, watches, clocks and other valuablegifts dropped 11% year on year to HKD 5.86 billion ($747.8 million), themunicipality's Census and Statistics Department reported last week. Sales inall retail categories slipped 4.5% to HKD 37...Read More
Finland's next government, encompassing five parties from the left and center of the political spectrum, will increase spending by about 4 billion euros ($4.5 billion), Iltalehti reported, citing a draft of the government program agreed on Friday.The incoming cabinet, led by Prime Minister-designate Antti Rinne of the Social Democrats, is due to unveil its program and composition, including minist...Read More