RAPAPORT... Fawaz Gruosi, the founder of De Grisogono, has stepped downfrom his position as board director and left the company, the Swiss-basedjeweler said. Gruosi had been gradually shifting away from day-to-dayoperations for some time, De Grisogono added. Fawaz's departure leaves newlyappointed CEO C?(C)line Assimon in charge, said Elmar Wiederin, chairman of the DeGrisogono board. The je...Read More
RAPAPORT... A Belgian regional authority will invest EUR 2 million ($2.3million) in a production facility for industrial synthetics. The financial input from the government of Flanders willhelp India-based Heyaru Engineering launch the lab-grown-diamond factory - itsfirst in Europe - in the city of Lommel. Heyaru will invest about EUR 24million ($27.5 million) in the project. The hub will boo...Read More
RAPAPORT... Sales of Forevermark jewelry rose 8% year on year in 2018, accordingto the brand's owner, De Beers. That growth is nearly double the 4.4% increase for thejewelry industry as a whole, Forevermark CEO Bruce Cleaver noted in a speech to stockistsin New York earlier this month. Forevermark also reported a successful marketing campaignfor its Tribute collection, which, it said, reache...Read More
RAPAPORT... Lucara Diamond Corp. has recovered a 127-carat rough diamondfrom its Karowe mine in Botswana. The company found the "high-quality" white stone in the deposit'ssouth lobe, the same area where it unearthed the 1,109-carat Lesedi La Rona andthe 813-carat Constellation. "The recovery of this latest, high-value, top-white, 127-caratdiamond attests to the remarkable nature of the Karow...Read More
RAPAPORT... Richemont's jewelry sales increased 9% in the third fiscal quarter,as strong growth in Asia Pacific offset weakness in Europe and the Middle East. Jewelry proceeds from Cartier and Van Cleef & Arpelsrose to EUR 1.99 billion ($2.28 billion) in the three months ending December31, Richemont reported Friday. Sales at its watchmaker brands, including Piagetand Vacheron Constantin,...Read More
(IDEX Online) - Lucara Diamond Corp. has recovered a 127-carat, top white gem diamond, from its 100% owned Karowe diamond mine located in Botswana. Since mining began at Karowe in 2012, a total of 129 diamonds in excess of 100 carats have been recovered, 33 in 2018 alone. That tally includes 12 diamonds larger than 300 carats in size, of which five were recovered in 2018. In addition, Luca...Read More
(IDEX Online) - ALROSA reported the sale of $323.7 million of rough in December and $4.41 billion for all of 2018. ALROSA's December sales of rough and polished diamonds increased by 38% YoY to $328.7, with polished diamond sales of $5 million. Meanwhile, its total diamond sales in 2018 grew 6% YoY to $4.51 billion, with polished sales of $95.3 million. "A 6% sales growth...Read More
(IDEX Online) - T.GOLD, the international show for machinery and the most innovative technologies for the gold, colored and precious stones and jewelry market, featuring exhibitors from Italy and overseas will hold a "Jewelry Technology Forum". The fair takes place at the same time as VicenzaOro from January 18 to 23. The JTF, now in its 15th edition, is the result of collaboration between...Read More
RAPAPORT... Richemont's jewelry sales increased 9% in the third fiscal quarter,as strong growth in the Asia Pacific region offset weakness in Europe and the Middle East. Jewelry proceeds from Cartier and Van Cleef & Arpelsrose to EUR 1.99 billion ($2.28 billion) in the three months ending December31, Richemont reported Friday. Sales at its watchmaker brands, including Piagetand Vacheron C...Read More
RAPAPORT... Sales of Forevermark jewelry rose 8% year on year in the US in 2018, accordingto the brand's owner, De Beers.That growth is nearly double the 4.4% increase for thejewelry industry as a whole, De Beers CEO Bruce Cleaver noted in a speech to stockistsin New York earlier this month. Forevermark also reported a successful marketing campaignfor its Tribute collection, which, it said, r...Read More
ALROSA today announced its rough and polished diamond sales results for December and preliminary results for 2018.ALROSA saw a 6% growth in its diamond sales last year due to high demand and positive price dynamics in the first half of 2018. With total sales growing to $4.5 billion. Rough diamonds grew to $4.4 billion and polished diamond sales stood at $95.3 million.In the second half of the year...Read More
World famous jeweller Tiffany & Company has launched an initiative to provide greater transparency about the origins of its diamonds to customers, from miners to retailers.Following in the footsteps of the world's No. 1 diamond miner, De Beers, which is testing a blockchain technology-based platform aimed at clearing the supply chain of imposters and conflict diamonds, Tiffany has begun tracing ea...Read More
TSX-, Nasdaq- and Botswana Stock Exchange-listed Lucara Diamond Corporation on Thursday recovered a 127 ct, top white gem-quality diamond from its Karowe diamond mine, in Botswana.Since mining started at Karowe in 2012, the company has recovered 129 diamonds in excess of 100 ct, including 12 diamonds larger than 300 ct.Advertisement“The recovery of this latest, high-value diamond attests to...Read More
Canada's Lucara Diamond (TSX:LUC) has kicked off the new year with yet another massive find at its flagship Karowe diamond mine in Botswana.The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012. That tally includes 12 diamonds larger than 300 carats in size, of which five were recovered...Read More
Sentiment improved after relatively good holiday season, butdealers and cutters concerned about low profit margins, excess supply, andselective demand. Indian bank credit tightening, with ICICI to close Antwerpbranch. Stock markets rebound, with Dow index +2% since Jan. 1, amid optimismfor US-China trade deal. Suppliers focused on Chinese New Year orders, withsteady demand for lower-color and -cla...Read More
Slow trading, with few foreign purchasers in theMumbai market. Buyers selective, but having difficulty finding the right goodsat the right price. Suppliers maintaining stable prices on fresh supply, buthave a lot of older merchandise in stock. Manufacturers keeping productionbelow capacity for now, as concerns about profitability persist. Banks raisingcollateral requirements, with liquidity crunch...Read More
RAPAPORT... Macy's noted strong sales of higher-end jewelry during theholiday season, though lower-priced items were weaker. Fine jewelry was one of seven categories the retailerhighlighted for their positive performances during November and December.However, sales of fashion jewelry and fashion watches missed expectations, itadded in the holiday-sales update Thursday. The department store l...Read More
RAPAPORT... Antwerp-headquartered diamond manufacturer IGC Group hasappointed Kim Pelletier as president of its fine-jewelry division, IGC BrandServices.The Chicago-based subsidiary manufactures diamonds, designs jewelry, and distributes the Naledi brand of engagements rings.Pelletier will oversee the company's growth by developing its contacts withretailers across North America and expanding...Read More
RAPAPORT... Michael Hill has appointed Andrea Slingsby as chiefoperating officer, it said Wednesday. "Her unique experience in people-focused, fast-growingcompanies, business-model improvement and operational excellence is a majorbenefit for Michael Hill as we implement our strategy to become a globallyrelevant leader in the premium-jewelry category," said Daniel Bracken, CEO ofMichael Hill. Slin...Read More
(IDEX Online) - IDEX Online has launched the 2019 edition of its much-anticipated annual Trade Fair Guide. The guide provides extensive details regarding a wide range of trade fairs taking place this year, including dates, venues and contact information. It also provides information relating to De Beers' sales dates in 2019, and ALROSA's dates for publishing details of its...Read More