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Rapaport TradeWire January 11, 2018
Jan 11, 2018 11:54 AM
By Rapaport
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January 11, 2018 | RAPAPORT MARKET COMMENT | | Diamond trading steady after positive US retail season. Signet disappoints again as Nov.-Dec. sales -3% to $1.9B due to glitches in outsourced credit program, lower sales of Ever Us line, and less effective promotions. Department stores rebound, with Macy’s and J.C. Penney seeing jewelry growth. Richemont jewelry maisons’ 3Q sales +5% to $2.2B. Rising expectations for Chinese New Year (Feb. 16) after Chow Tai Fook 3Q sales +12% in China, flat in Hong Kong/Macau. Strong rough demand anticipated at Jan. Alrosa and De Beers sales, with manufacturers ready to raise production for 1Q stock replenishment. Shmuel Schnitzer steps down as chairman of Israel Diamond Institute. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | 0.38% | 1.43% | 0.96% | 0.50 ct | 0.60% | 0.94% | -16.49% | 1.00 ct | 0.16% | 0.65% | -4.08% | 3.00 ct | 1.29% | -0.82% | 4.11% | | The RapNet Diamond Index (RAPI™) is the average asking price in hundred $/ct. of the 10 percent best priced diamonds, for each of the top 25 quality round diamonds (D-H, IF-VS2, GIA-graded, RapSpec-A3 and better) offered for sale on RapNet - Rapaport Diamond Trading Network. | | | Market Reports | | | United States: Dealers optimistic for 2018 due to strong economy, rising stock market and tax cuts. | | | Belgium: Quiet rough trading expected to improve over next two weeks during Alrosa sale (Jan. 15) and De Beers sight (Jan. 22). | | | Israel: Focus on filling Chinese New Year orders. Sentiment good, with improved profit in past month. | | | India: Trading relatively quiet as US and European dealers slowly return from Christmas-New Year break. | | | Hong Kong: Positive outlook for Chinese New Year, with renewed jewelry-retail growth in mainland China. | | | | Insights | | WITH Sonia Esther Soltani | Say Yes to Engagement Rings | An open response to Shark Tank’s Kevin O’Leary. Those who say diamonds are a waste of money fail to understand their value. | | | WEEKLY NEWS | retail | | Signet Holiday Sales Disappoint | Disruptions to the jeweler's outsourced credit program dents its performance for the season. | | | Cartier, Van Cleef See Strong Season | Asia and the Americas stimulates third-quarter growth at Richemont's jewelry maisons. | | | J.C. Penney’s Holiday Sales Jump | Jewelry ranks among the department store's stronger divisions. | | | Chow Tai Fook China Expansion Spurs Growth | Gem-set jewelry sales rise in Hong Kong, but gold drives increase on the mainland. | | | Sears to Shut over 100 Stores Across the US | Retailer aims to resize by closing unprofitable branches. | | | industry | | GIA Unveils Plans for Labs in Surat and Antwerp | Institute will introduce diamond grading at its Belgium location. | | | RapNet Gets a Tech Interface-Lift | Redesigned trading platform ups security and ease of use. | | | Sarine Unit to Sue over Alleged Fraud | Company claims Indian diamond manufacturer misused technology to underpay for service. | | | GJEPC: Raid Shows Problem with Tax Policy | Misunderstanding by GST authorities led to raid on diamond couriers, trade body says. | | | Sterling Sues Alex and Ani over Supply Deal | Signet division alleges 2015 agreement left it with an inventory backlog worth millions of dollars, court documents show. | | | mining | | Letšeng Sees Large-Stone Recovery | Latest finds could fetch more than $25,000 per carat, analysts say. | | | Lulo Mine Yields Another 100ct. Diamond | Lucapa will include 25 special-size stones at its first sale in 2018. | | | general | | Gübelin to Build Gemstone Blockchain | Swiss lab hopes its partnership with Everledger will raise transparency in the industry. | | | Shmuel Schnitzer Steps Down as IDI Chairman | Boaz Moldawsky will replace the diamond-industry veteran. | | | India’s GJEPC Hires Marketing Chief | Ruchita Sharma has more than 20 years’ experience with brands such as Swarovski and Salvatore Ferragamo. | | | Tiffany’s Strategy Exec to Leave | The company will not seek a replacement as it aligns non-jewelry departments with its core product. | | | | FINANCE | Diamond Industry Stock Report | | Signet (-4.3%) trailed US retail stocks after reporting weaker-than-expected holiday sales. Shares of the major Hong Kong jewelers also fell despite Chow Tai Fook (-1.2%) noting positive sales growth during its fiscal third quarter. Sarine (+7.8%) led Far East stocks, while diamond miners generally had a negative week, with Lucapa Diamond (-4.5%) and Lucara Diamond (-4.5%) heading the declines. Gem Diamonds (+5.9%) gained after unearthing two large stones. | | | Contact Us | | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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