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Rapaport TradeWire November 23, 2017
Nov 23, 2017 10:53 AM
By Rapaport
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| November 23, 2017 | | RAPAPORT MARKET COMMENT |  | | Diamond trade optimistic as holiday season begins, with online sales growth expected over Thanksgiving weekend. Mall-based retailers and department stores offering heavy discounts to entice customers. New ‘Real is Rare’ marketing targets older millennials searching for intimacy and stability. Signet Jewelers’ shares -30% as 3Q sales -3% to $1.2B, loss of $12M vs. profit of $15M. Chow Tai Fook 1H sales +15% to $3.2B, profit +44% to $234M. Alrosa 3Q sales -14% to $999M, profit -51% to $220M. Hong Kong 3Q polished imports +1% to $4.7B. Industry mourns passing of rough broker Mark Boston. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.02% | 0.30% | -0.81% | | 0.50 ct | -0.31% | -0.45% | -20.49% | | 1.00 ct | -0.33% | -0.58% | -6.48% | | 3.00 ct | -0.45% | 0.77% | 3.56% |  | | 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: Jewelry wholesalers cautious as retailers are holding less inventory and insisting on memo... |  |  | Belgium: Trading slower than last week, with European independent jewelers restricting purchases ahead of holiday season... | | |  | Israel: Suppliers maintaining firm prices with rising expectations for season... | | |  | India: Polished inventory reduced since Diwali break... | | |  | Hong Kong: Sentiment improving with hope that Chinese jewelry-retail recovery will extend to diamond trade... | | |  | | | Insights |  | | WITH Avi Krawitz | | It Takes a Village | | Pastor Emmanuel Momoh recounts how artisanal diggers in Sierra Leone discovered the world’s 14th-largest diamond... |  |  | | | WEEKLY NEWS | | retail | | | | New Diamond Ads Refocus on Love Moments | | 30-second DPA videos show snippets of couples’ lives. |  | | | Signet Cuts Forecast as Hurricanes Hurt Sales | | Storms in Florida and Texas had negative impact on the jeweler’s earnings. | | | | | Robust Gold Demand Drives Chow Tai Fook Growth | | Revenue up 15% in first fiscal half as Asia recovery continues. | | | | | industry | | | | India’s Diamond Trade Slows in October | | Polished exports down 23%, rough imports slide 36% during Diwali month. | | | | | Ex-L’Oréal Exec to Drive India Diamond Campaign | | New managing director Richa Singh has 19 years’ experience in marketing. | | | | | Hong Kong Polished Shipments Rise | | Imports and exports show improvement in third quarter. | | | | | mining | | | | Mir Mine Flood Dents Alrosa Profit | | Devaluation of asset comes to $125 million. | | | | | Letšeng Finds Seventh Big Diamond of the Year | | 202-carat rough is another boon for Gem Diamonds. | | | | | Debmarine Splashes $142M on Diamond Ship | | Mining vessel will be the world’s largest of its kind. | | | | | general | | | | Asia Keeps Swiss Watch Recovery on Track | | Higher exports to China, Hong Kong and Japan drive October growth. | | | | | De Beers, Alrosa Announce 2018 Sale Schedules | | First Botswana sight begins January 22. | | | | | Start-Up Gets Funds for Payment App | | Mazalit will let dealers clear funds in under 10 seconds. | | | | | Industry Mourns Diamond Broker Mark Boston | | Chairman of H. Goldie was influential in pioneering the Indian cutting trade. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Signet (-28%) was the weakest performer out of major US retail and jewelry stocks this past week after the company reported lower-than-expected earnings. Birks Group (-27%) also fell after sluggish consumer sentiment in Canada caused a decline in its half-year sales. Chow Tai Fook (+8.9%) outperformed Hong Kong’s Hang Seng Index, after reporting a jump in sales and noting a recovery in the region’s jewelry market. Peers including Chow Sang Sang (+3.5%) and Luk Fook (+1.4%) also gained. | | | | | Contact Us |  |       | | © Copyright 2017 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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