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Rapaport TradeWire August 17, 2017
Aug 17, 2017 11:30 AM
By Rapaport
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| August 17, 2017 | | RAPAPORT MARKET COMMENT |  | | Diamond trading slow ahead of Belgium and Israel dealers’ return from vacation next week (August 21). Focus shifting to China, with rising expectations for September Hong Kong Show. Improving Chinese demand for branded, ethically sourced products as Chow Tai Fook launches traceable T Mark collection. US demand steady, with jewelers avoiding unnecessary inventory and taking goods on memo. Rough market cooling. Stornoway Diamond 2Q profit -60% to $1.8M from revenue of $33M. Alrosa July rough sales subdued at $286M, maintains 39M ct. production plan after Mir mine flood. Birks Group sells Mayor’s Jewelers to Aurum Holdings for $105M. Authentic Brands Group buys stake in Neil Lane. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.31% | -1.51% | 1.66% | | 0.50 ct | -0.42% | -2.64% | -18.25% | | 1.00 ct | -0.15% | -0.70% | -6.82% | | 3.00 ct | 0.01% | -0.27% | 3.02% |  | | 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: Suppliers with excess stock of lower-quality SIs trying to stimulate buyer interest with lower prices. Bridal demand driving jewelry sales... |  |  | Belgium: Dealers concerned about tight profit margins and limited bank credit... | | |  | Israel: Very little activity, with the Israel Diamond Exchange closed for summer vacation until August 20... | | |  | India: Steady manufacturing continues to raise polished inventories. Rough demand softening... | | |  | Hong Kong: Steady Chinese bridal demand, with fashion diamond jewelry gaining popularity... | | |  | | | WEEKLY NEWS | | industry | | | | DPA: US Women Seek Long-Term Value in Diamonds | | Millennial consumers are defining luxury beyond price, as they look for authentic experiences and products. |  | | | Four Major Changes in 25 Years of Hari Krishna | | The polished manufacturer has grown from minnow to $1B giant in its two-and-a-half decades. | | | | | Branding Firm Buys Controlling Share in Neil Lane | | Authentic Brands Group plans to expand the jeweler’s designs into the home, travel and fashion sectors. | | | | | Shenzhen Rough Exchange Chooses Chairman | | Members elect CEO Wang Ning to lead bourse’s first governing council. | | | | | retail | | | | Birks Sells Mayor’s to UK Group for $105M | | Jeweler to use proceeds of sale to expand Canadian network and strengthen its balance sheet. | | | | | US Engagement-Ring Spending Flat at $3.4K | | Second-quarter outlay barely changed from first quarter. | | | | | Chow Tai Fook Unveils Traceable Diamond Brand | | Inscribed T Mark collection will be available in some 200 stores in Hong Kong, Macau and China. | | | | | Macy’s Jewelry Upgrade Lifts Sales | | The division’s double-digit revenue growth follows a decision to sell better-quality products. | | | | | Garrard Launches First Shanghai Store | | UK retailer creates exclusive diamond-jewelry pieces for new boutique. | | | | | mining | | | | Alrosa Output Unaffected by Mine Flood | | Mir asset accounts for approximately 11% of the company’s total production. | | | | | Gem Diamonds Mulls Ghaghoo Sale | | Revenue slides 15% to $92.9 million in first half. | | | | | Alrosa Sees Summer Drop in Rough Demand | | Market slows as vacation period sets in. | | | | | Beny Steinmetz Detained in Fraud Probe | | Diamond mogul was previously held in connection with Guinea mining case and released to house arrest. | | | | | general | | | | Rare Tourmalines Win Top AGTA Award | | Mikola Kukharuk takes Best of Show accolade for blue stones weighing 53.56 carats. | | | | | Diamond Foundry Opens Synthetics Store | | LA location will feature company’s Vrai & Oro jewelry brand with only lab-grown stones. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | JCPenney (-30%) recorded the steepest decline out of US retail stocks as the department-store chain reported disappointing results. Birks Group (+21.5%) bucked the wider trend after it announced the sale of Mayor’s Jewelers. Gitanjali Gems (+10%) gained from strong financial results, with Indian industry stocks generally improving this past week. Mining stocks were mixed. | | | | | 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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