Diamond trading quiet, with many dealers closed during the Passover and Easter holidays. U.S. brick-and-mortar retail under pressure from rise in online shopping as Credit Suisse reports record 2,880 general stores shut in 1Q. Further planned department store closures expected to impact diamond inventory movement. Francisco Partners invests $140M in online jeweler James Allen. Asia Pacific turning a corner with Chow Tai Fook 4Q same-store sales +12% in China, +4% in Hong Kong & Macau. LVMH 1Q jewelry & watch sales +14% to $932M. Dominion FY2017 sales -21% to $571M, operating loss of $57M vs. profit of $8M. ALROSA March sales +1% to $567M. U.S. Feb. polished imports -15% to $1.5B.
Fancies: Good demand for Pears in the Far East, with Ovals overtaking Pears as the strongest shape in the U.S. Shortages of fine-quality large Pears and Ovals. Cushions stable. Emeralds selling better than Princesses. Some demand for big fancy shapes, but buyers extremely picky. Improving demand for Radiant, 3.01 to 9.99 ct., D-I, SI1-SI2 elongated stones. Large price differentials between excellent- and average-cut fancies. Off-make, poorly cut fancies illiquid and very hard to sell, even at very deep discounts.
|
|
|
|
|