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Rapaport TradeWire November 23, 2017

Nov 23, 2017 10:53 AM   By Rapaport
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Rapaport TradeWire
November 23, 2017

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.

John Moran Tw Banner Nov 2017
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%
RAPI Yearly Graph
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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...
Trade Wire December Single Stone Standalone
WITH Avi Krawitz
It Takes a Village
Pastor Emmanuel Momoh recounts how artisanal diggers in Sierra Leone discovered the world’s 14th-largest diamond...
Zsa Zsa Gabor’s Harry Winston Necklace For Sale
The German Town Encrusted with Diamonds
Taking Apart Signet’s Share-Price Slump
Holiday Sales Forecasts Are Still Unreliable
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New Diamond Ads Refocus on Love Moments
30-second DPA videos show snippets of couples’ lives.
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Signet Cuts Forecast as Hurricanes Hurt Sales
Storms in Florida and Texas had negative impact on the jeweler’s earnings.
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Robust Gold Demand Drives Chow Tai Fook Growth
Revenue up 15% in first fiscal half as Asia recovery continues.
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India’s Diamond Trade Slows in October
Polished exports down 23%, rough imports slide 36% during Diwali month.
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Ex-L’Oréal Exec to Drive India Diamond Campaign
New managing director Richa Singh has 19 years’ experience in marketing.
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Hong Kong Polished Shipments Rise
Imports and exports show improvement in third quarter.
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Mir Mine Flood Dents Alrosa Profit
Devaluation of asset comes to $125 million.
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Letšeng Finds Seventh Big Diamond of the Year
202-carat rough is another boon for Gem Diamonds.
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Debmarine Splashes $142M on Diamond Ship
Mining vessel will be the world’s largest of its kind.
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Asia Keeps Swiss Watch Recovery on Track
Higher exports to China, Hong Kong and Japan drive October growth.
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De Beers, Alrosa Announce 2018 Sale Schedules
First Botswana sight begins January 22.
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Start-Up Gets Funds for Payment App
Mazalit will let dealers clear funds in under 10 seconds.
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Industry Mourns Diamond Broker Mark Boston
Chairman of H. Goldie was influential in pioneering the Indian cutting trade.
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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.

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