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Rapaport TradeWire August 29, 2019

Aug 29, 2019 11:15 AM   By Rapaport
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8 July 2018 Igi Tw Top Banner
Rapaport TradeWire
August 29, 2019

Suppliers preparing for Hong Kong show amid uncertainties about buyer attendance. Weak Chinese sentiment due to trade war and yuan depreciation (-4% in Aug. to CNY 7.1/$1). Tourist spending declines, with Tiffany & Co. 2Q sales -3% to $1B, earnings -6% to $136M. Chow Sang Sang 1H retail revenue +1% to $1.1B, profit +2% to $78M after strong start to 2019, but double-digit slowdown when Hong Kong protests began in June. Inventory levels declining due to reduced manufacturing, despite sluggish polished trading. Rough market very quiet after $280M De Beers sight. Trans Hex CEO Llewellyn Delport resigns as mid-scale miners struggle to stay afloat in current weak market.

600X160 Alrosa
Weekly Monthly Y2Y
0.30 ct -0.08% -0.68% -22.02%
0.50 ct 0.24% -0.96% -10.48%
1.00 ct 0.58% 0.00% -6.02%
3.00 ct -0.25% -1.42% -17.80%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
United States: Fancy-color dealers holding sizable inventory of large yellow diamonds...
Belgium: Decline in rough-dealer activity after small De Beers and Alrosa August sales...
Israel: Not easy to source best-quality SIs, which are in demand...
India: Some US, Chinese and Israeli buyers looking for bargains from cash-strapped Indian suppliers...
Hong Kong: Show organizers trying to calm exhibitor concerns about upcoming fair, which begins September 16...
15 Aug 2019 Gia Natural Or Lab Grown Tw Banner
Vintage Sees a Resurgence at Retail
WITH Lara Ewen

Estate jewelry has gained popularity among millennial consumers seeking unique, handmade looks.

Indian and Russian Leaders Discuss Diamond Partnership
Demand for Angolan Rough Higher Than Supply
Kimberley Miner Cuts Salaries Amid Financial Woes
Gunmen Steal $4M from NY Jewelry Store
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GJEPC Mulls Separate Lab-Grown Membership
Category would help Indian organization keep tabs on the sector.
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Officials Calm Hong Kong Show Concerns
Travel alerts have been lowered and insurance companies are on board, Informa notes.
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US Diamond Trade Slumps in First Half
Polished imports fall 24% for the period.
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Celebrities Fund New Custom-Jewelry Platform
Pietra connects consumers with over 100 designers.
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Cartier Bracelet to Lead Sotheby’s Geneva Sale
Piece is valued at $2 million to $3 million.
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Tiffany Sales Fall as Tourist Spending Slows
Global revenue slips 3% in second quarter.
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Chow Sang Sang to Grow China Network
Hong Kong-based retailer plans to open 60 new stores on the mainland this year.
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Folli Follie Seeks Buyer for Links of London
Owner of UK-based jeweler has suffered financial troubles.
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De Beers Sales Continue to Fall
August proceeds down 44% as sightholders reject goods.
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Letšeng Mine Yields 114ct. Yellow
Stone is Gem Diamonds’ third of that color over 100 carats this year.
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Possible Stock Delisting Adds to Stornoway Woes
Toronto exchange gives miner until December 20 to comply with requirements.
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Angola Pleased with Diamond Roadshow
More than 230 companies have expressed interest in acquiring mining rights in the country.
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Trans Hex Struggles Continue as CEO Quits
Llewellyn Delport has led the business since 2004.
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Alrosa to Hold Second True Colors Auction
Miner will present over 200 diamonds at the Hong Kong Jewellery & Gem Fair.
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Graff Reveals Polished Lesotho Pink
Jeweler cut stone from 13.33-carat rough originating at Gem Diamonds’ Letšeng mine.
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Kathryn Kimmel to Retire from GIA
The senior vice president and chief marketing officer founded the organization’s career fair.
Tradewire Banner August Single Stone V1
Diamond Industry Stock Report

Retail shares fell ahead of the September 1 implementation date for new tariffs on Chinese goods. Macy’s (-5%), Signet (-6%), Chow Tai Fook (-6%) and Chow Sang Sang (-3.5%) all dropped. J.C. Penney (+6%) bucked the trend. Weakness in the diamond market hit mining shares, with Firestone (-11%), Petra (-9%), Lucapa (-6%) and Lucara (-4.5%) all falling. Stornoway (-25%) plunged after the company reported it was unable to find a buyer, and faced delisting from the Toronto Stock Exchange.

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