RAPAPORT... Consumers are increasingly turning to branded jewelry in search of trustworthy products with clear origins, according to De Beers' latest Diamond Insight Report.Environmental concerns, social movements and the Russia-Ukraine crisis have sharpened the focus on provenance and sustainability. Demand for dependable labels has grown, as has the added value they command over unbranded i...Read More
RAPAPORT... The US branch of Swiss watch and jewelry retailer Bucherer has acquired Leeds & Son, aiming to expand its presence within the US market.California-based Leeds & Son is a family-owned fine-jewelry and watch retailer, carrying brands including Rolex, Patek Philippe and Messika, Bucherer said last week. The company, founded in 1947, is run by CEO Terry Weiner. In 2018, Bucherer bo...Read More
(IDEX Online) - The GIA has joined the Watch & Jewellery Initiative 2030 (WJI 2030), founded last October as a movement for positive change in the industry.It said the move was an extension of its commitment to a more sustainable future for the world, our industry and for the Gemological Institute of America (GIA).The Geneva-based WJI 2030, established by Cartier and Kering, focuses on buildin...Read More
RAPAPORT... Zales will offer a new collection of bridal jewelry featuring larger lab-grown diamonds ranging from 1 to 3 carats.The products are the result of a partnership between the Signet Jewelers-owned store chain and wedding-dress retailer Kleinfeld. They were inspired by bridal details such as lace accents, floral appliqu?(C)and flowy movements, Zales said Monday. As part of the collabo...Read More
RAPAPORT... Hearts on Fire has appointed Barbara Ng as head of product management, a newly created position at the jewelry brand.Ng was most recently president of the total jewelry solutions department at Hearts on Fire parent company Chow Tai Fook. She has also led supply chain and manufacturing operations for various multinational companies in Hong Kong, Hearts on Fire said Wednesday.In her new...Read More
RAPAPORT... De Beers will offer widened concessions to purchasers of larger rough diamonds at its upcoming sight as trading has slowed amid difficult market conditions.The miner will increase its "buyback" allowance to 20% for 1-carat goods and up at the sale, which begins later this month, industry insiders told Rapaport News this week.Buybacks are a mechanism enabling sightholders to sell 1...Read More
(IDEX Online) - Petra produced and sold fewer diamonds in the first quarter, ending 30 September, according to the company's latest operating update.Revenue was down nine per cent year-on-year to $104.3m. It sold 520,011 carats, down 10 per cent.The UK-based miner said it had benefitted from a weaker rand, and it was closely monitoring current macro-economic uncertainties.Petra, which has min...Read More
(IDEX Online) - De Beers is reportedly easing its buyback terms for sight holders - an indication that the post-lockdown surge in demand is well and truly over.In a memo issued last Friday, the UK-based miner said it would give buyers increased freedom to refuse stones they don't want at the sight currently taking place in Gaborone, Botswana.They're now able to reject 20 per cent of good...Read More
RAPAPORT... Brilliant Earth is working on a new initiative to reduce the amount of mercury used in gold mining throughout the Peruvian Amazon and to create a Fairmined ecological supply chain."Harmful supply chain practices are typically used to mine gold, but little has been done to create impactful solutions to help those involved in it, with the focus on keeping costs lower," Brilliant Earth CE...Read More
(IDEX Online) - The appointment of Rishi Sunak as Britain's new prime has again provoked calls for the Koh-i-Noor diamond to be returned to India.On Monday Mr Sunak, 42, (pictured) became the country's first leader of Indian origin, fueling hopes that he may respond more favorably to calls for him to intervene.The iconic 105.6-ct Type IIa D-color gem, center-piece of the late Queen...Read More
(IDEX Online) - De Beers has appointed actress Lupita Nyong'o as its first global ambassador, to front its new Where It Begins campaign.The first Kenyan and Mexican to win an Academy Award for Best Supporting Actress, said it would allow her to extend her advocacy for women and girls around the world."This campaign brings to life the transformative power that I feel when I wear De...Read More
RAPAPORT... Gemfields will resume basic mining operations at its Montepuez ruby deposit in Mozambique following an evacuation due to a rebel attack at a neighboring site.Key personnel have returned to the site and all mining and processing will be restarted in phases as the company assesses the threat in each license area, it said Tuesday. Security workers and the Mozambique police have been stati...Read More
(IDEX Online) - Swarovski is to roll out its lab grown range of diamond jewelry across 200 stores in the USA and Canada.The launch of the Created Diamonds collection follows a successful pilot program, the company said.Earrings, rings, necklaces, and bracelets featuring diamonds 0.25-cts and larger will be available online from next month and in stores next year. The family-owned crystal and...Read More
(IDEX Online) - Breitling says its new $20,000 Super Chronomat Automatic 38 Origins is the first "fully traceable" watch.The gold is sourced from a single artisanal mine, all the diamonds are from lab-grown supplier Fenix, and buyers get a blockchain-backed NFT as a guarantee of provenance.Sourcemap, which provides transparency solutions for over 100,000 luxury goods companies, is verifying...Read More
RAPAPORT... Swarovski plans to roll out its lab-grown diamond jewelry collection to 200 stores throughout the US and Canada over the coming year.The Austrian crystal house will also launch jewelry featuring Swarovski Created Diamonds online beginning in November, it said Monday. The expansion follows a successful pilot in key markets across the US, where sales exceeded the company's expectations,...Read More
RAPAPORT... Petra Diamonds has extended its latest sale after experiencing "unusual market conditions" in certain rough categories, the miner said Tuesday in a trading update.The company noted "some buildup in inventory [in the industry] pre-Diwali." This prompted it to delay the closing of the tender for some of its gem- and near-gem-quality goods, especially in the 1- to 5-carat ranges, man...Read More
(IDEX Online) - Lucky sapphire hunter Matt Betteridge found an 834-carat monster thanks to heavy rains in Queensland, Australia.He was out "specking" - scanning the ground for precious gems - when he chanced upon the stone, which was the size of a "small child's fist". It's been valued at AUD $12,500 (USD $8,000).Speckers often go out after wet weather because rain washes away the topsoi...Read More
RAPAPORT... De Beers has chosen Academy Award winner Lupita Nyong'o as its first global ambassador. She will star in the company's new brand campaign and support its Building Forever project to advance women and girls in diamond communities.The Where It Begins campaign follows Nyong'o from her discovery of a rough diamond through to its transformation into jewelry, De Beers said Monday. Meanwhile,...Read More
RAPAPORT... More jewelers and designers are launching unisex collections, expecting gender-neutral styles to be a "massive" trend this holiday season.In this episode of the Rapaport Diamond Podcast, Rapaport Senior Analyst Avi Krawitz and Acting Editor Rachael Taylor discuss the move by several leading brands to introduce genderless jewelry and whether this will prompt other companies to follow su...Read More
(IDEX Online) - A huge pink diamond weighing 170.2 carats is to be sold next month at a rough tender by Sodiam, Angola's state-owned diamond trading company.The stone, named the Lulo Rose (pictured), was recovered by the Australia-based miner Lucapa and is believed to be the largest pink diamond found in the last 300 years.There is speculation that as a polished gem it could sell for as much...Read More