RAPAPORT... Pandora chairman Peder Tuborgh is set to leave the Danishjewelry maker. This comes just one month after the company appointed veteranconsumer-brand executive Alexander Lacik as its new CEO. These significant leadership changes form part of thecompany's strategic initiative to combat disappointing sales figures, asluggish retail market, and problems with its new jewelry lines. In 2018...Read More
Researchers of the Fraser Institute reported that for the first time in more than five years, all three territories in Canada's north are among the top 15 most attractive regions for mining investment worldwide. This includes areas that hold potential for investments in diamond mining. Every year, the Fraser Institute surveys miners around the world to determine which jurisdictions are attractive...Read More
ALROSA, the Russian diamond miner, held an auction in Vladivostok for rough diamonds over 10.8 carats. The overall revenue amounted to $9.1 million. The company auctioned 125 rough diamonds, weighing 2,090 carats total, to 24 companies from the largest centers of the diamond trade. "The first auction this year in Vladivostok completed with good results. The assortment is still in demand among the...Read More
A delegation of the heads of the Israel Ministry of Economy and the leadership of the Israel Diamond Exchange (IDE) visited Angola earlier this month and met with key officials in the country's rough diamond sector. Initiated by IDE, the visit's objective was to take advantage of changes in Angola's diamond marketing policy and consequently increase direct rough diamond sales to Israel. The delega...Read More
The Women's Jewelry Association (WJA) hosted the inaugural Women Executives Forum in New York City to build purposeful relationships among top women leaders across the jewelry and watch sectors. Held in celebration of International Women's Day, nearly 25 leaders discussed ways to:?EUR? Identify and develop female leaders?EUR? Prepare for the future of jewelry retail - and the rise of th...Read More
Gem Diamonds announced it sold a 13.33 carat pink diamond recovered at the Letseng mine in February 2019 at a tender in Antwerp for US$ 8,750,360. This represents a record dollar per carat price of US$ 656,933 for a Letseng diamond. Earlier this week, the firm published its year-end results for 2018,reportin a revenue of $267.3 million, compared to $214.3 million in 2017. Gem Diamonds It recovered...Read More
The AIGS Lab has launched an app that can verify AIGS gemstone reports, creating additional protection for customers. The app can verify the following AIGS reports: AIGS Master Gemstone Report (MGR and MGRS), AIGS Full Report, AIGS Diamond Report, AIGS Master Jade Report (MJR), and AIGS Brief Report. Customers who download the app may scan their report in order to verify that it is genuine. Third-...Read More
LSE-listed Gem Diamonds on Thursday announced the sale of a 13.33 ct pink diamond on tender in Antwerp for $8.75-million.The diamond was recovered from the Letšeng mine, in Lesotho, in which Gem Diamonds holds a 70% stake, in February.AdvertisementThe sale represents a record dollar per carat price of $656 933 for a Letšeng diamond.To watch Creamer Media's latest video reports, click...Read More
Gone are the days where the economics of sustainability meant mining companies had to choose between what was best for their bottom line and what was best for the environment and the communities their mines affect, a BDO report, Impressions from PDAC 2019, released this week finds.Among the reports key findings are that sustainability pressure turns into competitive advantage. After stakeholder p...Read More
Conventional wisdom says that an increased rate of diamond recycling results in downward diamond price pressure due to the theoretical increase in supply. However, the contrary may actually be true today in this relatively nuanced market. In fact, a more prevalent diamond recycling market could in fact be the natural diamond industry's saving grace.Historically, given that a more active recycled...Read More
Six foreign-controlled miners operating in Indonesia, including PT Vale Indonesia and a unit of Australia's Newcrest Mining, intend to divest some of their shares "in the near future" to meet regulations, an Indonesian official said.According to Indonesian mining rules, foreign-controlled miners are required to gradually start reducing ownership after five years of production. Within 10 years, for...Read More
Shares in Africa-focused Gem Diamonds (LON:GEMD) took a hit on Wednesday as the miner disappointed investors by withholding its full-year dividend, citing uncertainty about the global diamond industry as one of the main reasons.The London-listed miner, which reported a sharp increase in annual profit thanks to record recoveries of large diamonds, said it had decided to strengthen its balance shee...Read More
RAPAPORT... Signet Jewelers has appointed Joan Hilson chief financialofficer, as part of an effort to strengthen its leadership team. The former David's Bridal executive - who also managed finances forAmerican Eagle Outfitters and Victoria's Secret - will begin at the company onApril 4. The outgoing chief financial officer, Michele Santana, will continuein her role until then, and will remain with...Read More
RAPAPORT... Sales from the Grib diamond mine in Russia were flat at $300 million in 2018 as prices of smallerstones faltered. "Grib Diamonds rough is concentrated by value in the smaller end, which was under pressure from mid-2018," Antony Dear, head of sales at the mine's marketing unit, Grib Diamonds, told Rapaport News Tuesday. "Our prices reflect this, and were overall down on a like-for-...Read More
RAPAPORT... Gem Diamonds' sales and profit increased in 2018 as the miner produceda record number of large stones at its Let??eng mine, including the 910-caratLesotho Legend. Revenue rose 25% to $267.3 million for the year, the minersaid Wednesday. Sales volume jumped 17% to 125,111 carats, a record for thecompany. The average price climbed 10% to $2,131 per carat, reflecting thelarger percen...Read More
RAPAPORT... There's a caveat that Stephen Lussier emphasizes when marketing diamonds to millennials as a symbol of love. The industry needs to recognize that love may not entail the formality of marriage, the De Beers head of marketing stressed in an interview with Rapaport Magazine last September. Marketers must focus less on tradition and more on the underlying motivation for buying the diamond,...Read More
For the second month in a row, the Luxury Industry Performance Index (LIPI) has been rising. The indicator gained 0.6 points. Investors' mood has been improving as the market capitalization of luxury related stocks increased by 5.6 percent. This growth outpaced the rise the S&P 500, EuroStoxx and Nikkei. The LIPI is compiled by Frank Mueller of The Bridge to Luxury, a Dresden, Germany-bas...Read More
Signet Jewelers announced the appointment of Joan M. Hilson as Chief Financial Officer (CFO). The company also implemented additional organizational changes "to strengthen its leadership structure in support of its Path to Brilliance transformation plan." Hilson was CFO of David's Bridal from 2014 to March 2019. Prior to that, she was the CFO of American Eagle Outfitters and held several roles wit...Read More
In January, retail sales in the USA rebounded slightly, and this after the biggest decline in a decade. The 0.2% gain in January was led by sales on the Internet and in home centers. It remains clear, however, that the US economy was losing momentum in early 2019. The report that retail sales has increased a meager 0.2 percent in January came from a government report that was delayed by the...Read More
Gem Diamonds, a leading global diamond producer of high value diamonds, published its financial results. The firm reported a revenue of $267.3 million, compared to $214.3 million in 2017. It recovered 126.875 carats from the Letseng mine, compared to 111.811 carats in 2017. The average value achieved was $2,131/ct. compared to $1,930/ct. in 2017. In 2018, Gem Diamonds recovered no less than 15 di...Read More