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Rapaport TradeWire March 11, 2021

Mar 11, 2021 10:38 AM   By Rapaport
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Rapaport TradeWire
March 11, 2021
RAPAPORT MARKET COMMENT
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Positive trading amid US and China retail recovery. Jewelry continues to perform well as consumers seek meaningful products that retain value. US jewelers optimistic after Senate approves $1.9 trillion stimulus bill and as vaccine rollout gains momentum. Jewelry sales +6% in Feb., Mastercard reports. Large manufacturers emerging from pandemic with improved liquidity, profit and market share. Miners seeing robust rough demand ahead of 2Q seasonal slowdown. De Beers Feb. sales +52% to $550M, Alrosa +5% to $361M. Petra Diamonds sells 299.3 ct. rough to Stargems for $12.2M ($40,695/ct.). Israel Feb. rough exports +21% to $124M with boost from new UAE trade deal.

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct 0.81% 1.12% 1.59%
0.50 ct 0.27% 0.63% 12.23%
1.00 ct 0.72% 1.30% 10.04%
3.00 ct -0.31% 0.28% 8.62%
RAPI Yearly Graph
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Market Reports
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United States: Traders finding it difficult to replace sold items...
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Belgium: Positive sentiment amid steady turnover...
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Israel: Market returning to regular routine as economy gradually opens after lockdown…
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India: Manufacturers continue to shift toward lab-grown as interest in the category increases...
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Hong Kong: China retail recovery spurring optimism in wholesale sector...
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Ekati Eyes a Brighter Future
WITH Avi Krawitz

There may yet be life left in the Ekati mine, which recently resumed operations after lying dormant for most of 2020. The Rapaport Research Report considers prospects for this important source of rough supply following its takeover by Arctic Canadian Diamond Company.

How to Market Across Generations
WITH Leah Meirovich

To reach different age groups, jewelers need to embrace multichannel advertising with targeted messaging.

How gem supply got more demanding
WITH Jennifer Heebner

Dealers weigh in on sourcing, sales channels, and other colored-stone issues that have arisen during the pandemic.

UPS AND DOWNS
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Retailers Cheer as $1.9T Relief Bill Clears US Senate
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Two Friends Create Diamond Concierge for the Digital Age
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Former Bank CEO Sentenced in Diamond and Gold Scam
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More Than 400 Stores Are Closing in 2021
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WEEKLY NEWS
industry
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De Beers, Alrosa See Sales Rise
Combined rough revenues reach $911 million in February.
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Lunar Festival Seals China’s Comeback
Retailers restock following sharp New Year sales increases.
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Israel Bourse to Reopen Trading Hall
Space will be available from Sunday for vaccinated members, recovered Covid-19 patients, and those who have tested negative in the previous 48 hours.
retail
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US Jewelry Sales Surge During ‘Month of Love’
Revenue up 6% year on year in February, while online rises 63%.
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Signet Launches In-Store Customization at Jared
Customers can work with one of 1,400 artisans at 19 US locations to create bespoke pieces.
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Tiffany Gets New Creative Director
Ruba Abu-Nimah succeeds Reed Krakoff, who left following jeweler’s sale to LVMH.
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Pandora Reopens Some Stores, Sees Strong Sales
25% of locations remain shuttered; February revenue up 12% on an organic basis.
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Bain Makes a Case for Resale
Previously owned items could provide up to 20% of luxury businesses’ revenues by 2030, company says.
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Midwest Jeweler Buys Minneapolis Retailer
Gunderson’s adds fifth store through acquisition of JB Hudson.
mining
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Petra Sells 299ct. Diamond for $12M
Stargems spends $40,701 per carat on rough stone.
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Gem Diamonds Profit Soars After Sales Rebound
Miner proposes first dividend since 2016.
general
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Platinum Guild to Award $500K Grant
Money will go to manufacturers, designers or retailers who focus on using the metal for their jewelry.
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Israel’s Diamond Trade Sees Strong February
Polished exports up 24% year on year amid demand from US and China.
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FINANCE
Diamond Industry Stock Report
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Global retail stocks rose as an increase in the US consumer price index allayed investors’ fears about inflation. Congress’s approval of a third stimulus bill also boosted market confidence. Signet (+11%), Chow Sang Sang (+9%), Macy’s (+7%), Kering (+6%) and Luk Fook (+5%) all improved. Pandora (+13%) jumped following positive February sales. Miners had a tougher week, with Petra Diamonds (-17%), Lucara (-5%) and Mountain Province (-5%) falling. Gem Diamonds (+16%) gained after strong earnings and the announcement of its first dividend since 2016. Alrosa (+5%) was also up amid growth in rough sales.

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