The Federation of the Swiss Watch Industry has reported a "marked recovery" in watch exports in July, following a first half of the year that was practically identical to the period before the COVID-19 crisis. Exports of Swiss watches, many of which are set with diamonds, showed a 29.1% increase compared with 2020 which marked the start of a slow and uncertain recovery, driven almost exclus...Read More
Iconic American retailer Macy's saw a huge rise in its share price after releasing solid second-quarter fiscal 2021 results which beat analysts' expectations, with jewelry sales featuring strongly. "The quarterly performance gained from strong sales across merchandise categories, as consumers continued to emerge from pandemic-led impacts," the firm said in a statement, reporting an...Read More
The Japan Grown Diamond Association believes lab-grown diamonds are beginning to take off in the country and have great potential. "I doubt we even have 1% share of the market here because of the little supply and lack of resale market," said Shigeyuki Ishida, representative director of Japan Grown Diamond Association. "It will grow from here," he told Bloomberg News According to ana...Read More
(IDEX Online) - Bluerock has recovered its largest ever rough gem at its Kareevlei mine, in Kimberley, South Africa. The 58.6-carat stone is a D-color makeable stone - colorless but with spotted black sulphide intrusions.The London-based miner has also reported two other high-value recoveries this month - stones weighing 21.6-carat and 14.3-carat.Mike Houston, executive chairman, said: "This...Read More
Sales of watches and jewelry in the US have remained steady since March, despite the huge percentage rises shown in the graph below. Total sales in June were $116.9m, up only marginally on May's figure of $116.2m. The dramatic year-on-year changes are largely down to the impact of the global pandemic last year. May 2020 was one of the worst-hit months, with sales of just $53.5m, which e...Read More
RAPAPORT... The added value of a business is no longer just the product and service it provides, asserts Anish Aggarwal, a partner at diamond-industry consultancy Gemdax. His company has been helping businesses navigate the ever-evolving diamond market for the last two decades. While diamond companies now understand that they need a strategic plan to stay ahead of the changes affecting the in...Read More
(IDEX Online) - Petra hopes to finally re-open its Williamson mine, in Tanzania, after what is likely to be almost a two-year closure.It was put on care and maintenance in April 2020 as the global pandemic hit, resulting in what the UK miner described as an "unprecedented depressed market environment".Chief executive Richard Duffy said the company aims to restart operations to in the first quarter...Read More
Dealers optimistic about US market ahead of next week's Las Vegas shows. Low visitor traffic expected. Buyers who do attend will be looking for goods and testing price levels. Foreign suppliers unable to go but watching for signals about trends and holiday prospects. Polished prices stable despite seasonal slowdown. Buyers resisting higher prices; sellers holding prices firm due to steep rough cos...Read More
RAPAPORT... Jewelry retailers across the country have been reporting record traffic and sales numbers. Even with restaurants and travel destinations reopening, store owners said consumers were still spending, with no signs of stopping. Engagement, bridal and repairs made up most of the business, while smaller celebrations such as graduations had little impact. There may be a slowdown by the e...Read More
RAPAPORT... A new consumer campaign by the Natural Diamond Council (NDC) and the Responsible Jewellery Council (RJC) is emphasizing the positive impact of mined stones.Under the tagline "Thank You, By the Way," the program - which the NDC announced Wednesday - highlights the industry's sustainability efforts by explaining how consumers' diamond purchases have benefited producing countries and...Read More
RAPAPORT... US retail sales slipped in July amid supply-chain disruptions and a shift in spending from goods to activities, the National Retail Federation (NRF) said Tuesday.Revenue fell 1.1% from the previous month, according to data it cited from the US Census Bureau. For comparison, June saw a gain of 0.7% over May. While July sales increased 16% year on year, the rise was primarily due to a fa...Read More
RAPAPORT... It's been a summer heat wave of sales. Wholesalers were using superlatives to describe their business, and reporting percentage increases that would more likely be associated with start-ups than with long-established companies. New York: Positivity reigns"We've seen good times, but not like this. It's fantastic," said Ketan Mehta, president of New York-based manufacturer and trader Div...Read More
(IDEX Online) - Tennis superstar Serena Williams has signed an exclusive deal to sell her jewelry range through US retailer Zales. The 23-time Grand-Slam winner launched Serena Williams Jewelry in November 2019, featuring gold and silver rings, bracelets, necklaces priced from $299 to $10,000.Zales, which has over 700 stores and is part of the Signet empire, says it will now be the sole retai...Read More
RAPAPORT... A 14.6-carat lab-grown is the largest gem-quality diamond ever made using the chemical vapor deposition (CVD) method, claims the International Gemological Institute (IGI), which recently graded the stone.The square emerald-cut gem from Mumbai-based grower Ethereal Green Diamond has F color and VS2 clarity, IGI said last week. The stone has received the name Freedom of India, a ref...Read More
(IDEX Online) - The Mir mine, closed in 2017 after a flooding accident that claimed eight lives, could re-open.Sergey Takhiev, head of Alrosa's corporate finance department, says a decision on its future will be taken in the coming months."Alrosa can decide whether to rebuild its underground Mir mine halted due to the accident in 2017 in late 2021 - early 2022," he said yesterday.Eight miners...Read More
RAPAPORT... India's polished-diamond exports continued to exceed pre-pandemic levels in July as the market extended its recovery.The outgoing shipments more than doubled year on year to $2.26 billion, the highest since February 2019, according to data the country's Gem & Jewellery Export Promotion Council (GJEPC) released this week.Rough imports also showed a significant increase, reflect...Read More
RAPAPORT... Pandora's revenue increased in the second quarter as solid US demand and online sales growth outweighed the jeweler's weak performance in mainland China.The company's sales rose by 84% year on year for the period - which ended June 30 - hitting DKK 5.16 billion ($816.1 million), Pandora said Tuesday. In comparison to 2019's second quarter, sales were up 13%, and online revenue spiked 1...Read More
RAPAPORT... Iris, you have been a strong advocate of sustainability for over 20 years. Why are the 17 Sustainable Development Goals (SDGs) so important now?The 17 SDGs are the sustainability agenda for the world as agreed by 193 countries. They are about people, prosperity, planet, peace and partnerships. They are about leaving no one behind. It is an excellent framework for any company to us...Read More
(IDEX Online) - Police in Surat, India, have seized GIA certificates being used to fraudulently inflate the value of diamonds.They also confiscated a laser machine used to inscribe inferior stones with bogus GIA numbers and a number of diamonds.Officers acted after a number of complaints at the city's Mahidharpura diamond market and arrested a man."He collected certificates of only high-value...Read More
(IDEX Online) - A 14.60-ct diamond has been certified as the largest polished lab grown gem produced by the CVD process.The F/VVS2 stone was made by Ethereal Green Diamond, in Mumbai, India, and graded by the IGI lab.Last November, the Chinese manufacturer Shanghai Zhengshi Technology claimed a CVD record with a 12.75-ct F/VVS2.Before that, in June 2020, the GIA lab in Carlsbad, California, graded...Read More