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Rapaport TradeWire November 29, 2018
Nov 29, 2018 11:06 AM
By Rapaport
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| November 29, 2018 | | RAPAPORT MARKET COMMENT |  | | Sentiment improves after positive start to holiday season. More people shopped than expected on Thanksgiving weekend, but average spend fell 7% to $313 per consumer, reports NRF. Online sales +20% in November, with record $7.9B generated on Cyber Monday, according to Adobe Analytics. Polished market stable, with continued caution about small stones. Luxury jewelers concerned as Chinese tourists spend less abroad. Chow Tai Fook 1H sales +20% to $3.8B, profit -89% to $37M. Tiffany & Co. 3Q sales +4% to $1B, profit -5% to $95M. Christie’s Hong Kong sells $60M (70% by lot). Birks to accept Bitcoin payments, despite the cryptocurrency’s volatility (-68% in 2018). | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.29% | -0.15% | 4.47% | | 0.50 ct | 0.09% | -0.11% | 4.99% | | 1.00 ct | 0.09% | 0.01% | 2.11% | | 3.00 ct | -0.43% | -1.16% | -2.78% |  | | 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 start to holiday season, with strong Black Friday and Cyber Monday sales... |  |  | Belgium: Steady US and European demand, China and India slower... | | |  | Israel: Several dealers participating in Hong Kong International Jewelry Manufacturers’ Show (HKIJMS) and hoping well-timed event will boost Asia orders... | | |  | India: Local dealers gaining confidence as rupee-dollar exchange rate has stabilized at around $1/INR 70.6... | | |  | Hong Kong: Retail sentiment weak amid concerns about cautious spending by tourists from mainland China... | | |  | | | Analysis: A Crisis in Melee |  | | WITH Avi Krawitz | Prices of non-certified goods below 0.29 carats have slumped in 2018 — particularly for very small melee. The Rapaport Research Report outlines four key factors that have contributed to the weakness in the market for small diamonds. Those developments will continue to impact the diamond industry in the long term, putting additional pressure on India’s manufacturing sector. |  | | | WEEKLY NEWS | | retail | | | | IBM Predicts 5% Rise in Holiday Jewelry Sales | | Strong consumer sentiment driving positive outlook. |  | | | Tourist Slowdown Hits Tiffany Revenue | | Share price drops as company misses analysts’ estimates. | | | | | Cyber Monday Smashes Online-Sales Record | | Proceeds leap 20% to estimated $7.9 billion. | | | | | De Beers’ Lightbox Pops Up in New York | | Temporary “Cyber Week” store displays brand’s lab-grown diamonds. | | | | | Montreal Relaunch Boosts Birks Results | | Sales rise 6% in first fiscal half. | | | | | industry | | | | Sapphire Necklace Sells for $15M at Christie’s | | Plus, pendant worn by Marilyn Monroe fetches $1.3 million. | | | | | Renaissance Buys Disney-Themed Jeweler | | $26 million acquisition expands Indian company’s US presence. | | | | | US Polished-Diamond Imports Increase | | Shipments up 10% in September, and 6% for the first nine months. | | | | | Higher Average Price Drives Belgium Exports | | Shipment value jumps 17% in October despite steady volumes. | | | | | general | | | | 1.5ct. Synthetic Diamond Sells for $32 | | Cards Against Humanity discount was genuine — and a joke. | | | | | Judge Orders Signet to Face Fraud Lawsuit | | Court rejects jeweler’s attempt to have securities case dismissed. | | | | | Birks to Accept Payment in Bitcoin | | Jeweler claims to be Canada’s first luxury retailer to embrace the cryptocurrency. | | | | | Now’s Too Late to Start Courting Retailers | | Suppliers must focus on business all year long, not just before Christmas. | | | | | Kering’s E-Commerce to Move In-House | | Luxury group will end partnership with Richemont’s Yoox Net-A-Porter. | | | | | Gahcho Kué Production Set to Rise | | Output could reach 7.1 million carats per year by 2021. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | Strong sales over the Thanksgiving weekend boosted shares in J.C. Penney (+12%) and Macy’s (+6%). However, jewelry stocks were volatile as the weak yuan currency has created concerns about Chinese consumer spending: Tiffany (-10%) fell after disappointing results, while weak figures also dented Hong Kong’s Chow Tai Fook (-4.2%) and Luk Fook (-5%). In India, PC Jeweller (-10%) dropped after it said it planned to reduce exports. Shares in Mountain Province (-6%) slid following the announcement of its production outlook, with Lucapa Diamond (-9%), Lucara Diamond (-5%) and Stornoway Diamond (-7%) also losing ground. | | | | | 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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