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Rapaport TradeWire March 14, 2019

Mar 17, 2019 4:25 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
March 14, 2019
RAPAPORT MARKET COMMENT
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Market sentiment weak, with select categories seeing demand. Diamonds between 0.70 ct. and 1.99 ct. moving well, but large stones slow. Sluggish demand for goods under 0.50 ct., with manufacturers reducing production of that size. Rough market subdued. Alrosa Jan.-Feb. sales -40% to $627M. Belgium Feb. rough imports -28% to $621M, polished exports -3% to $1.2B. Gem Diamonds 2018 revenue +25% to $267M, profit +171% to $47M after record production of exceptional stones. Eurostar Diamond Traders close to bankruptcy amid $500M debts. Signet appoints Jamie Singleton president of merged Kay, Zales and Peoples leadership team.

Trade Wire 600X160 April 2018
RAPNET DIAMOND INDEX (RAPI)
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WeeklyMonthlyY2Y
0.30 ct -0.30% -0.38% -9.25%
0.50 ct -0.11% 0.28% -2.76%
1.00 ct 0.13% 0.49% -2.27%
3.00 ct -0.09% -0.76% -6.83%
RAPI Yearly Graph
Gia Tw Banner E 31 May 2018
Market Reports
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United States: Buyers insisting on discounts due to excess supply...
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Belgium: Round, 1 ct. goods selling well, but less movement in 2 to 2.99 ct. range...
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Israel: Polished production low amid weak market for rounds 3 ct. and larger in high colors and clarities...
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India: Firms trading rough rather than manufacturing, creating shortages in certain melee categories...
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Hong Kong: Activity dropping slightly as positive effects of Hong Kong show wear off and peak retail season ends...
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600X160 Mag
Time for the Trade to Reengage with Bridal
WITH Avi Krawitz

Engagement-ring marketing has taken a back seat recently as the industry assesses how millennials relate to the product. The diamond trade must now reenergize the important bridal segment.

UPS AND DOWNS
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How Tiffany Is Segueing from Classy to Hip
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J-Lo’s Engagement Ring May Be Worth $5M
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Modi Kept Changing Addresses to Evade Authorities
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Man Robs Hong Kong Jeweler in Broad Daylight
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2019 Feb 13 Rap Net Instant Inventory
WEEKLY NEWS
industry
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Eurostar Diamond Traders Close to Bankruptcy
Antwerp court rejects manufacturer’s reorganization attempt.
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Newspaper Tracks Down Nirav Modi
Fugitive jeweler is running London diamond business, says The Telegraph.
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What Makes a Good Synthetics Detector?
The DPA’s review of devices raises questions about what to look for.
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Frederick Goldman Acquires Lab-Grown Brand
Love Earth collection includes bridal and fashion jewelry.
retail
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Signet Hires New Financial Chief
Retailer also merges leadership teams for Kay, Zales and Peoples.
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Pandora Chairman Quits Amid Reshuffle
Peder Tuborgh exits a month after appointment of new CEO.
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US Retail Rebounds in January
Sales up 3.6% after weaker December data.
mining
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Letšeng Pink Sells for Almost $9M
Per-carat price of $656,933 breaks company record.
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Alrosa Testing Payments in Euros
Move is preparation for potential US sanctions, Chinese report says.
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Weak Prices Keep Grib Sales Flat
Revenue steady at $300 million in 2018.
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Large Stones Boost Gem Diamonds Results
Sales and profit rise in record year for exceptional discoveries.
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Petra Unearths 101ct. Rough at Cullinan
Miner also finds blue diamond weighing 6.12 carats.
general
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GJEPC Inaugurates $2B Jewelry Complex
Mumbai center will employ 100,000 workers when complete.
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MID Leads List of Top Israeli Exporters
Company’s shipments rose 12% to $196 million in 2018.
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Belgium Trade Declines in February
Country sees drop in rough and polished exports.
Tradewire Banner Ml March V3
FINANCE
Diamond Industry Stock Report
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US retailers gained following positive January sales data, with J.C. Penney (+12%) and Signet (+6%) leading the sector. Pandora’s stock price (-4.5%) was volatile throughout the week as the company unveiled a plan to buy back investors’ shares, and its chairman announced he was leaving. A general rally in the Indian stock market boosted Asian Star (+8%) and PC Jeweller (+9%). Gem Diamonds (-8%) trailed mining equities after deciding not to pay a dividend to shareholders.

Rapnet Trade Wire
March 2019 300X300
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