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Rapaport TradeWire September 2, 2021

Sep 2, 2021 11:11 AM   By Rapaport
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September 2, 2021
RAPAPORT MARKET COMMENT
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Dealers return from Las Vegas optimistic for holiday season. Good orders at JCK, Luxury, Antique and Couture shows signal positive sentiment among US independents. Major retailers did not attend but are seeing momentum online and in-store. Signet Jewelers 2Q revenue +101% to $1.8B, profit of $225M vs. loss of $82M a year earlier. Chow Sang Sang 1H sales +69% to $1.4B. Sustainability emerges as key branding and sales point. Brilliant Earth prepares Nasdaq IPO as 1H sales +78% to $163M, profit of $11M vs. $200K a year ago. Rough trading strong after De Beers sight; not enough polished to meet demand. Belgium July polished exports +23% to $710M, rough imports +147% to $927M.

RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct
-0.41%
-1.60%
-0.69%
0.50 ct
-0.30%
-0.91%
4.52%
1.00 ct
-0.11%
0.03%
17.84%
3.00 ct
0.15%
0.30%
16.29%
RAPI Yearly Graph
Market Reports
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United States: Upbeat trading at Las Vegas shows, with serious buyers present despite low attendance overall...
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Belgium: Customers buying in response to specific needs rather than for inventory as prices remain high...
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Israel: Activity muted as Covid-19 spike continues and Jewish High Holy Days approach...
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India: Polished production limited; rough resale providing better margins than manufacturing...
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Hong Kong: Demand shifting to smaller sizes...
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Diamond Foundry Aims to Be a Bright Alternative
WITH GWYNETH BORDEN

The company wants to better the jewelry world with its lab-grown stones, carbon-neutral rating and social programs.

Circular Thinking
WITH PAOLA DE LUCA

By recycling, upcycling and reusing our materials, we can meld the past with the present to create a greener future.

UPS AND DOWNS
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WEEKLY NEWS
industry
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Diamond Prices Steady After Vegas Shows
Industry optimistic amid strong jewelry retail activity.
Diamond Dealers on Doing the Right Thing
Wholesalers have embraced ethical sourcing as a cornerstone of their trade.
Good Business at Vegas Jewelry Shows
Mask-clad vendors satisfied with trading as JCK fair closes.
retail
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Signet Sales Beat Expectations Again
Retailer raises full-year forecast after buoyant quarter.
Brilliant Earth to List Shares on Nasdaq
Online-focused jeweler saw sales of more than $250 million in 2020.
Holiday Confidence High for Diamonds
Dealers enjoy unusually strong summer period.
Hong Kong Retail Sales Still Struggling to Recover
Revenue from jewelry up 27% year on year in July, compared to a 32% increase in June.
Do Consumers Care About Social Responsibility?
Four jewelers weigh in on whether their clients are concerned about products’ sustainable origins.
China Expansion Buoys Chow Sang Sang
Opening of 50 new stores in the country boosted sales in first half.
mining
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Diamcor Losses Deepen Amid Virus Restrictions
Operations at South Africa mine remained limited during past quarter.
BlueRock Sells Three Large Diamonds for over $1M
Miner garners $585,000 for 58.6-carat rough at August tender.
general
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Storied Brooch Makes Its Way to Auction
Duchess of Devonshire wore jewel to Prince Rupert Loewenstein’s White Ball.
Canada Mining Region Gets Second Manufacturer
Diamonds de Canada counts RDI founder Michael Indelicato among its owners.
JBT Hails New ‘Low-Cost’ Memo Filing Service
Process helps suppliers protect ownership of consignment goods.
Diamond Ring Smashes Estimate at Fellows Auction
Piece brings in $22,705 following 72 bids.
Belgium Diamond Exports Continue to Rise
Rough and polished shipments see further recovery in July.
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