RAPAPORT... Frederick Goldman has launched a lab-grown manufacturing center inMexico as part of its new jewelry supply business. Jewelry SolutionsGroup manufactures custom diamond jewelry and engagement rings, delivered to clients within a week. The venture is comprised of two units, an existing facility for natural-diamond jewelry, and a separate site for lab-grown pieces, both in Mexi...Read More
RAPAPORT... Jewelry sales at Richemont - the owner of Cartier and VanCleef & Arpels - increased 10% in the past fiscal year, with sales growing in all regions and channels. Proceeds from the category rose to EUR 7.08 billion ($7.91billion) in the 12 months ending March 31. Sales in the watch divisiongrew 10% to EUR 2.98 billion ($3.33 billion), the company reported Friday. The results ref...Read More
RAPAPORT... Alrosa's profit decreased in the first quarter as its sales mix shifted to lower-value goods. Net profit fell 27% year on year to RUB 24.1 billion ($371.6 million) forthe period, the miner said last week. Revenue plummeted 27% to RUB 70.49 billion ($1.09 billion), while the average price forgem-quality diamonds dropped 20% to $123 per carat. Rough-diamond sales decreased 37% to $...Read More
RAPNET PRESSRELEASE, May 19, 2019, Las Vegas ... RapNet,the world's largest marketplace for diamonds and jewelry, is releasing its newjewelry trading platform to the industry. Following extremely positivereactions when RapNet introduced its new jewelry marketplace to members inJanuary this year, the platform is now making jewelry trading available to thewider industry. Retailjewelers and deal...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 130-carat, gem-qualitydiamond from its Lulo alluvial mine in Angola. The stone is the miner's 13th over 100 carats todate, and its second in that size category this year, it said last week. It found a128-carat, white, type IIa stone in February. The company expects to sell those two diamonds, along with a62-carat white diamond and several fa...Read More
Debmarine Namibia, a 50/50 joint venture between the Government of the Republic of Namibia and De Beers Group, announced it will begin with the construction of the world's first ever custom-built diamond recovery vessel. The new vessel is expected to cost US$468 million (N$7 billion) and represents the largest ever single investment in the marine diamond industry. The ship will become the sev...Read More
Roman Serov of Octonus (Finland, Russia), a leading diamond technology developer and Dr. Olga Okhrimenko, of Cutwise.com, presented "Diamond Impression -The Key to Sustainable Competitiveness" Dr. Okhrimenko began by asking a set of confronting questions, addressing the challenges retailers face when trying to sell diamonds to consumers, and, not less important, how develop repeat customers and se...Read More
As JCK Las Vegas 2019 quickly approaches, The Plumb Club will be offering buyers new attractions at what it calls a "state-of-the-art pavilion." The Plumb Club will be hosting its annual Breakfast Symposium on Saturday, June 1. Registration is required. This year, the Plumb Club is staging its new "Radiant Universe Planetarium Show." By using trend data acquired through market and consu...Read More
RAPAPORT... Alrosa's profit decreased in the first quarter as its sales mix shifted to lower-value goods. Net profit fell 27% year on year to RUB 24.1 billion ($371.6 million) forthe period, the miner said last week. Revenue plummeted 27% to RUB 70.49 billion ($1.09 billion), while the average price forgem-quality diamonds dropped 20% to $123 per carat. Rough-diamond sales decreased 37% to $...Read More
Petra Diamonds, the junior diamond company that operates diamond mines in Tanzania and South Africa was assigned a consensus recommendation of "Buy" from the ten brokerages that are covering the company, MarketBeat Ratings reported. The Tech Know Bits website reported that four investment analysts have rated Petra's stock with a hold rating and that six had assigned a buy rating to the...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 130-carat, gem-qualitydiamond from its Lulo alluvial mine in Angola. The stone is the miner's 13th over 100 carats todate, and its second in that size category this year, it said last week. It found a128-carat, white, type IIa stone in February. The company expects to sell those two diamonds, along with a62-carat white diamond and several fa...Read More
RAPAPORT... Jewelry sales at Richemont - the owner of Cartier and VanCleef & Arpels - increased 10% in the past fiscal year, with growth in all regions and channels. Proceeds from the category rose to EUR 7.08 billion ($7.91billion) in the 12 months ending March 31. Sales in the watch divisiongrew 10% to EUR 2.98 billion ($3.33 billion), the company reported Friday. The results reflected...Read More
The second day of the 5th Mediterranean Gem and Jewellery Conference held in Limassol, Cyprus, was dedicated to frontal lectures. One of the highlights was a presentation by Dr. Michael Schlamadinger, Head of Procurement at Swarovski Gemstones, Wattens, Austria. He spoke about Swarovksi's decision to begin marketing their own line of lab-grown diamonds (LGDs) and market them in a jewelry line...Read More
The 5th Mediterranean Gem and Jewellery Conference kicked off today at the Ajax hotel in Limassol, Cyprus, with two Gem Workshops. The morning session had Opal as its topic and this conference's first workshop was presented by Gail Brett Levine of the National Association of Jewelry Appraisers (NAJA) and Travis Lejman, both from the USA. The afternoon session was presented by conference...Read More
The UK-based publication the Retail Gazette said that Harrods has been named the world's best-performing luxury department store. According to research compiled by industry analysts at GlobalData along with architects Sybarite, the 170-year-old retailer owned by the Qatari royal family is the strongest performer by sales per square foot." Harrods raked in sales of 2.1 billion pounds in t...Read More
Minerals Council South Africa facilitated the inclusion of junior-specific provisions in Mining Charter III, gazetted in September last year, says Minerals Council Junior and Emerging Miners’ Desk head Grant Mitchell.He notes that the provisions will assist the stability and growth of the junior and emerging mining space, which has lagged behind that of Australia and Canada.AdvertisementMitc...Read More
Debmarine, a 50/50 joint venture between world's No. 1 diamond producer by value, De Beers, and the government of Namibia, will build a $468 million-diamond recovery ship, the world's first custom-made vessel of such a kind and the seventh in the company's fleet.The vessel, slated to start operations in 2022, would add about 500,000 carats per year of production capacity to Debmarine Namibia's out...Read More
Rising expectations for Las Vegas shows. Good demand for0.70 to 1.99 ct., G-J, VS-SI, RapSpec A3+. Other categories weak. Large-stonedealers cautious amid high-end slowdown. Christie's Geneva garners $62M (87% bylot) as cushion, 118.05 ct., fancy yellow, VS2 diamond sells for $7.1M ($60,000/ct.). Sotheby's Geneva fetches $42M(77% by lot) with 36.57 ct., D, FL going for $5M ($137,036/ct.). Rough pr...Read More
Cautious mood amidrumors more businesses closing. Dealer trading quiet with many extendingtheir summer vacation due to slow orders. US and Israeli buyers in Mumbailooking for bargains before Las Vegas shows. Liquidity tight and cuttersreducing production. Rough market stable, but manufacturing profit marginstight. Jewelers concentrating on gold rather than diamonds. RoundRead More
RAPAPORT... A diamond bought in memory of late diamantaire Sam Abram sold for more than double its high estimate at Christie's Geneva auction Wednesday. The cushion brilliant-cut, 118.05-carat, fancy-yellow,VS2-clarity stone fetched $7.1 million, or $60,000 per carat, at theMagnificent Jewels auction. The diamond, whichwas estimated at $2.5 million to $3.5 million, was purchased by Siba Corp....Read More