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Rapaport TradeWire November 26, 2020
Nov 26, 2020 10:15 AM
By Rapaport
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| November 26, 2020 | | RAPAPORT MARKET COMMENT |  | | Positive sentiment as US holiday season begins. NRF retail group forecasts Nov./Dec. sales +3.6% to $755B as consumers show willingness to spend on spirit-lifting gifts after challenging year. Covid-19 continues to spread, with concerns about crowded shopping areas. Jewelers investing in e-commerce, pushing Black Friday promotions on social media. India sees release of pent-up demand over Diwali. China recovery gains momentum. Tiffany & Co. 3Q sales -1% to $1B, profit +52% to $119M. Human Rights Watch claims jewelry trade’s responsible sourcing falls short of international standards. 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 | -0.30% | -2.43% | 4.01% | | 0.50 ct | -0.65% | -2.45% | 14.17% | | 1.00 ct | 0.22% | 0.41% | 3.28% | | 3.00 ct | 0.68% | 2.98% | 0.14% |  | | 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: Steady activity across the supply chain, with bridal the strongest category... |  |  | Belgium: Exporters focused on US clients, with stable demand for 1 to 2 ct., G-H, VS-SI goods... | | |  | Israel: Lab-grown market relatively busy, with more dealers embracing synthetics... | | |  | India: Retail sentiment positive after good Diwali festival sales... | | |  | Hong Kong: Some caution as government imposes stricter measures to curb potential fourth wave of coronavirus infections... | | |  | | | Set to sparkle: Trendbook 2022+ |  | | WITH Jewelry Connoisseur by Rapaport | Alternative materials, gender-fluid designs and uncut gems will be the stars of upcoming seasons, says forecaster and creative director Paola De Luca. |  | | | Making the Most of the Holidays |  | | WITH Lara Ewen | Between Covid-19 and political upheavals, this season’s prospects are looking uncertain. But retailers are finding bright spots in digital selling and innovative thinking. |  | | | WEEKLY NEWS | | industry | | | | De Beers Buys Petra Blue Diamonds for $40M | | Miner purchases five-stone collection in partnership with manufacturer and sightholder Diacore. |  | | | Jewelers ‘Failing to Prevent Rights Abuses’ | | Human Rights Watch calls for mandatory sourcing rules and urges companies to name suppliers. | | | | | Fancy Shapes Get Automation Boost | | New Synova software will speed up diamond manufacturing and reduce costs. | | | | | retail | | | | Sales Will Rise This Holiday, Retail Group Predicts | | Revenue expected to grow between 3.6% and 5.2%, NRF says. | | | | | Deloitte: Online to Overtake In-Store on Black Friday | | 74% of shoppers plan to purchase exclusively on e-commerce sites over four-day Thanksgiving weekend. | | | | | Tiffany Profit Soars as China Recovers | | Customers shift to higher-margin products in third quarter. | | | | | Forevermark to Make Greater Use of De Beers Name | | Brand alignment will help jeweler benefit from miner’s social-purpose efforts. | | | | | Diwali Sales Shine as ‘Bored’ Consumers Return | | Jewelry revenues beat expectations during Indian festival season. | | | | | China Rebound Boosts Chow Tai Fook Profit | | Figure up 45% as mainland sales rise and gold prices surge. | | | | | Jewelry Gives Shining Performance at Macy’s | | Category generates double-digit sales growth compared to previous year. | | | | | Luk Fook Warns of Profit Drop | | Hong Kong jeweler expects decline of 40% year on year in first half. | | | | | mining | | | | Letšeng Yields 14ct. Pink Diamond | | Recovery of “top-quality,” type II stone is latest in string of important finds at the Gem Diamonds mine. | | | | | general | | | | Okavango Diamond Chief Resigns | | Marcus ter Haar had been managing director of the Botswana rough trader since 2017. | | | | | Elliot Krischer to Head NY Diamond Dealers Club | | CEO of Esskay Gems succeeds Reuven Kaufman, who was president since 2011. | | | | | Colored Gemstones Get New Ratings System | | Gübelin’s numerical method is based on wine scores. | | | | | US Polished Imports Continue to Drop | | September sees 18th consecutive monthly decline as shipments fall 10% year on year. | | | | | Lab Grades Its Largest CVD Diamond | | International Gemological Institute says 12.75-carat synthetic stone has F color and VVS2 clarity. | | | | | Israel Polished Exports Slump | | Shipments down 37% in first 10 months of the year. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Global retail stocks continued to rise following news of an imminent Covid-19 vaccine. Macy’s (+22%), Signet (+15%), Chow Tai Fook (+5%), Pandora (+5%) and Richemont (+3%) all gained. Luk Fook (-2%) slipped after reporting a plunge in profit. Mining shares were mixed. Petra (+17%) climbed following the sale of five blue diamonds for more than $40 million. Mountain Province (+10%) and Anglo American (+8%) also rose, while Lucara (-6%), Lucapa (-4%) and Gem Diamonds (-3%) fell. | | | | | Contact Us |  |       | | © Copyright 2020 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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