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Rapaport TradeWire September 12, 2019
Sep 12, 2019 10:41 AM
By Rapaport
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| September 12, 2019 | | RAPAPORT MARKET COMMENT |  | | Low expectations for next week’s Hong Kong show, with fewer suppliers and buyers attending due to ongoing demonstrations. Dealers hoping polished trading will improve as US holiday season approaches. Rapaport calls for $1B industry-wide marketing campaign for engagement rings, including $500M matching funds from mining companies. Signet 2Q bridal sales -4% to $560M, Tiffany engagement jewelry -3% to $277M. CIBJO urges jewelers to focus on environmentally conscious, gender-neutral Gen Z-ers (ages 15 to 25). Midstream inventory declined due to reduced manufacturing. Alrosa Aug. rough sales -36% to $180M. Rapaport announces first Estate Jewelry Auction, Nov. 3-7, in New York. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.05% | -0.33% | -21.51% | | 0.50 ct | 0.21% | -0.34% | -10.20% | | 1.00 ct | -0.29% | -0.57% | -6.40% | | 3.00 ct | -0.02% | -2.05% | -18.46% |  | | 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: Some diamantaires diversifying into niche segments such as estate jewelry to improve profit margins... |  |  | Belgium: Buyers are selective and pushing for higher discounts as they sense suppliers’ need to raise liquidity and move inventory... | | |  | Israel: Faint and stronger fluorescent goods selling at notable discount to nonfluorescent... | | |  | India: Manufacturers maintaining low polished production but starting to consider rough purchases before Diwali break, which begins on October 27... | | |  | Hong Kong: Hope for busier trading during next week’s show, but few expect successful fair compared to previous years... | | |  | | | An Urgent Call to Invest in Marketing |  | | WITH Shashin Choksi & Siddharth Choksi | For the diamond market to recover from its recent challenges, the entire industry must contribute to raising the budget for promoting the product. |  | | | Nurturing the Next Generation of Diamantaires |  | | WITH Joshua Freedman | Rapaport News joined 25 members of the Young Diamantaires group on a visit to De Beers’ Venetia mine in South Africa. The trip gave cause for optimism about the future of the industry. | | | | | WEEKLY NEWS | | industry | | | | Martin Rapaport Urges $1B Marketing Spend | | Miners need to help the industry reach consumers, he contends. |  | | | Belgium Diamond Trade Slows | | Rough and polished shipments continue to fall in August. | | | | | Sotheby’s to Sell 81ct. Flawless Diamond | | Item is one of only five emerald-cut stones over 80 carats to be offered at auction. | | | | | Alrosa Sales Slide in August | | Economic and industry-specific factors are affecting demand, miner says. | | | | | retail | | | | Signet Scaling Back China Buying | | Retailer believes it can avoid passing costs of tariffs on to consumers. | | | | | Saks Unveils Luxury Jewelry Space | | The Vault will include brands such as Bulgari, Chopard, TAG Heuer and Tiffany & Co. | | | | | James Avery Picks Non-Family Member as CEO | | Texas-based jeweler promotes COO John McCullough. | | | | | mining | | | | Alrosa Consolidating Key Mining Division | | Nyurba holds licenses for two major kimberlite pipes. | | | | | Rio Tinto Unveils Array of Rare Argyle Pinks | | Stones have been specially curated to showcase the mine’s full color palette. | | | | | Lenders to Acquire Stornoway | | Court grants company protection from creditors. | | | | | general | | | | Signet Names New UK Managing Director | | Former Jessops CEO Neil Old succeeds Emma Hayward. | | | | | Bonhams Sets $1.2M Target for Van Cleef Ring | | Piece featuring 2.17-carat blue diamond is from a private collection. | | | | | WJA Brings New Executive Director on Board | | Organization also moving its headquarters to New York. | | | | | | FINANCE | | Diamond Industry Stock Report | | | | US retail stocks had a massive rebound, with J.C. Penney (+74%) gaining after announcing a strategy to bring in customers and increase sales, and Signet (+55%) receiving a boost when results beat analysts’ expectations. Tiffany (+12%) and Macy’s (+20%) also rose. In contrast, mining stocks lost some of their luster, with Lucapa (-6%), Mountain Province (-9%), Firestone (-9%) and Petra (-6%) all falling due to continued weak rough demand. | | | | | Contact Us |  |       | | © Copyright 2019 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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