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Rapaport TradeWire June 7, 2018
Jun 7, 2018 10:41 AM
By Rapaport
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June 7, 2018 | RAPAPORT MARKET COMMENT | | JCK show sees fewer participants, but trading reflects healthy US market. Big jewelry brands and top-tier independents adjusting to dynamic retail environment and enjoying 2018 growth. Suppliers maintaining stable prices, with 1 ct. RAPI -0.2% in May. De Beers’ entry into lab-grown diamonds dominates discussions at the show, with industry largely supporting the move to disrupt the synthetics market. Forevermark unveils omni-channel strategy with online sales platform. DPA to launch China campaign in July, shifts US focus to female self-purchasers. Signet 1Q sales +6% to $1.5B, loss of $497M vs. profit of $79M last year. Chow Tai Fook FY sales +15% to $7.5B, profit +33% to $536M. | | RAPNET DIAMOND INDEX (RAPI™) | | | Weekly | Monthly | Y2Y | 0.30 ct | -0.16% | -0.20% | 1.19% | 0.50 ct | -0.01% | 0.42% | -5.88% | 1.00 ct | 0.11% | 0.21% | -1.02% | 3.00 ct | -0.66% | 0.90% | 1.45% | | 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: Buyers looking for specific items in loose diamonds, while retailers planning fall and holiday season collections... | | | Belgium: Polished exports up in 2018, with US and Hong Kong fueling growth... | | | Israel: Emeralds, Ovals and Pears driving fancy shapes... | | | India: Activity relatively low as May summer break ends and dealers return from Las Vegas... | | | Hong Kong: Suppliers preparing for this month’s Hong Kong show (June 21 to 24), the smallest of the municipality’s three annual fairs... | | | | Martin Rapaport Tackles Industry Challenges in Vegas | | Martin Rapaport, Chairman of the Rapaport Group, gave his annual “State of the Diamond Industry” address in Las Vegas on Sunday, outlining his concerns about the supply side of the market. Watch the full presentation on www.diamonds.net | | | WEEKLY NEWS | industry | | Muted Las Vegas Fairs Come to a Close | Trading reflects steady US market despite slower foot traffic. | | | Diamond Prices Stable Through Vegas Shows | RAPI for 1-carat stones declines 0.2% in May. | | | DPA to Amplify Female Self-Purchasing Message | Group expanding Real is Rare to China in July. | | | Forevermark Unveils New Omni-Channel Strategy | Brand hopes to boost online offering and change in-store model. | | | retail | | E-Commerce Drives Signet Sales Jump | Addition of James Allen stores was a contributing factor. | | | Chinese Recovery Spurs Chow Tai Fook Growth | Revenue rose 15% in the fiscal year. | | | KGK Group Acquires Stake in Unique Settings | New York-based company specializes in just-in-time delivery. | | | Hong Kong, China See Lift in Luxury | Increased consumer spending and tourism drive April sales in the municipality. | | | Royal Asscher Launches First Amsterdam Store | Diamond company partnered with leading high-end Dutch retailer Schapp Citroen. | | | mining | | Zimbabwe Forecasts Surge in Diamond Output | Production will more than triple to 11 million carats in 2025, says ZCDC. | | | Mountain Province Joins CanadaMark Initiative | Partnership enables miner to use Dominion’s certification program for goods from Gahcho Kué. | | | Alrosa Sells $14.5M at Israel Auction | Russian diamond producer nets $7,950 per carat for 112 special-size stones. | | | Botswana Diamonds’ Kimberlite Find Unviable | Ontevreden pipe proves smaller than expected, but two other South Africa projects show potential. | | | general | | WDC Raises Ethical Sourcing with US Govt. | Organization calls for improvement in efforts to combat conflict diamonds. | | | Head of Asian Gem Institute Steps Down | Barbara Wheat will take on an international position for the Ho Group. | | | MJSA Announces Vision Award Winners | Designer Adam Neeley nabs two prizes, including one for laser distinction. | | | Armenian Designer Secures Second Couture Prize | Mike Joseph Jewellery also took home an award in 2015. | | | Synova Opens Cutting Center in Mumbai | New micro-machining center will eliminate need for diamond shipment between Surat and Mumbai. | | | GIA to Hold Synthetics Detection Seminars | Courses will coincide with gem and jewelry events in Mumbai, London and California. | | | ‘Diamonds Do Good’ Awards See Record Results | DEF honors De Beers CEO Bruce Cleaver and the government of Canada’s Northwest Territories. | | | | FINANCE | Diamond Industry Stock Report | | US retail stocks gained this week, as Macy’s (+13%) and J.C. Penney (+12%) rose in the wake of Signet (+21%) reporting higher-than-expected first-quarter revenue growth. Chow Tai Fook (+3.2%) also saw shares increase after announcing a jump in annual revenue and profit. Mining companies had a good week overall, with Anglo American (+6%), Gem Diamonds (+7%), Petra Diamonds (+4.1%) and Rio Tinto (+4.4%) all climbing. Stornoway Diamond (-11%) continued to see share prices drop since the devaluation of its Renard mine. Gitanjali Gems (-14%) and PC Jeweller (-18%) continued their descent in light of continued problems in the Indian market following the Nirav Modi and Mehul Choksi scandals. | | | Contact Us | | | © Copyright 2018 Martin Rapaport. All Rights Reserved. | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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