|
|
Rapaport TradeWire June 6, 2019
Jun 6, 2019 11:02 AM
By Rapaport
|
|
|
| June 6, 2019 | | RAPAPORT MARKET COMMENT |  | | Slow trading at JCK show highlights middle-market liquidity and profitability challenges. Prices softening with 1 ct. RAPI -0.7% in May. Suppliers using technology and sourcing programs to demonstrate added value as jewelers reduce inventory purchases. US jewelry market steady with top independents gaining market share over majors by providing personalized service to millennials. Luxury jewelers exposed to trade war as Chinese tourists cut overseas spending. Tiffany 1Q sales -3% to $1B, profit -12% to $125M. Signet 1Q sales -3% to $1.4B, loss of $10M vs. loss of $497M the previous year. Swarovski plans move into natural diamonds. RapNet members vote no to lab-grown listings and price list. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.46% | -3.50% | -15.71% | | 0.50 ct | -0.33% | -1.60% | -6.03% | | 1.00 ct | -0.20% | -0.57% | -3.79% | | 3.00 ct | 0.05% | -3.79% | -13.76% |  | | 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: Positive sentiment among jewelers at Las Vegas shows, but slow fair for suppliers... |  |  | Belgium: Polished and rough trade well below last year’s levels, with exports to all major markets and trading centers down... | | |  | Israel: Weak demand for stones below 0.50 carats and above 3 carats... | | |  | India: Good demand for lower-color (J-K) diamonds... | | |  | Hong Kong: Suppliers preparing for Hong Kong fair (June 20 to 23), hoping to unlock pent-up Far East demand... | | |  | | | Martin Rapaport at JCK: Watch the Full Speech |  | | WITH Martin Rapaport | The diamond trade must adapt to new realities or risk extreme financial and regulatory disruption. |  | | | Lightbox: The Synthetics King? |  | | WITH The Rapaport Diamond Podcast | Avi Krawitz sat down with Steve Coe, managing director of De Beers’ lab-grown-diamond brand, to discuss the company’s stance, one year after its launch. | | | | | WEEKLY NEWS | | industry | | | | Midstream Struggling as Diamond Prices Soften | | Cutters limit production to reduce inventory. |  | | | RapNet Members Say ‘No’ to Synthetics | | Voters reject lab-grown listings and price sheet. | | | | | Video: Vegas Show Sees Light Traffic | | Good activity in finished-jewelry section, but diamond trading quiet. | | | | | De Beers Opening Blockchain to Industry | | Company launches online resource to help trade members join Tracr. | | | | | GIA Offers Origin Reports for Colored Diamonds | | Organization introduced service for white stones in March. | | | | | retail | | | | Signet Revenue Drops in 1Q | | Retailer lowers guidance for rest of the year. | | | | | Tiffany Sales Fall as Tourist Dip Worsens | | Revenue down 3% in first quarter amid lower spending by Chinese visitors to Americas. | | | | | Swarovski Plans Move into Natural Diamonds | | Jeweler to focus on sustainably sourced stones. | | | | | New Stores Fuel Chow Tai Fook Sales Growth | | Company added 549 locations to its retail network in past year. | | | | | Visitor Slowdown Dents Hong Kong Luxury Market | | Trade war contributed to April decline, government says. | | | | | mining | | | | Alrosa to Sell Directly to Consumers | | Miner launches provenance program for polished diamonds. | | | | | Lulo Rough Fetches $10M at Tender | | Lucapa achieves average price of $1,800 per carat for goods from Angola deposit. | | | | | general | | | | Venus Jewel Exec to Join DFL Group | | Mahiar Borhanjoo oversaw DTC’s move to Gaborone in 2013. | | | | | Lab Creates Tech for Identifying Stolen Stones | | GGTL maps diamonds’ inclusions so it can trace them even after recutting. | | | | | Interview: How to Excel at Ethics | | Jewelers must help customers make informed decisions, says Benn Harvey-Walker. | | | | | Jade Trau Wins Couture’s Best in Bridal | | Double-banded engagement ring takes top prize. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | J.C. Penney shares (+23%) rebounded after a large fall last week, while other retail stocks still suffered the effects of the US-China trade dispute. Signet (-8%), Chow Sang Sang (-6%) and Luk Fook (-3%) all dropped. Lucapa Diamond (+13%) received a boost after giving a positive outlook for its exploration project at Lulo, while Mountain Province (+14%) also rose. Other mining companies had a negative week, with Stornoway Diamond (-13%), Petra Diamonds (-9%), Firestone Diamonds (-4%) and Gem Diamonds (-4%) all falling. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|