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Rapaport TradeWire October 14, 2021
Oct 14, 2021 10:23 AM
By Rapaport
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| October 14, 2021 | | RAPAPORT MARKET COMMENT | | | | Rising expectations for US holiday season as retailers see strong sales momentum. Major jewelers carrying good inventory and hoping to capitalize on shipping delays affecting electronics and appliances. Signet Jewelers raises 4Q forecast, agrees to buy Diamonds Direct for $490M. LVMH 3Q jewelry sales +125% to $2.5B, buoyed by Tiffany acquisition. China outlook cautious after drop in domestic tourist spending during Oct. Golden Week. Chow Tai Fook 2Q sales +56%. Rough market quiet amid price concerns and shortages. Alrosa Sept. rough sales -12% to $289M. Rio Tinto invests in Angola’s Chiri exploration project. Sotheby’s Hong Kong garners $50M, but top lots fail to sell. | | | RAPNET DIAMOND INDEX (RAPI™) | | | | Weekly | Monthly | Y2Y | | 0.30 ct | -0.37% | -1.96% | -6.09% | | 0.50 ct | -0.23% | -0.98% | -3.10% | | 1.00 ct | -0.15% | -0.40% | 13.96% | | 3.00 ct | 0.06% | -0.24% | 15.41% | | | | 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: Pent-up wedding demand fueling robust engagement-ring sales... | | | | | Belgium: Fancy shapes and fancy colors improving as consumers seek unique pieces... | | | | | Israel: Dealers looking for merchandise but struggling to find lucrative opportunities... | | | | | India: Profit margins tight due to expense of rough... | | | | | Hong Kong: Quarantine rules continue to limit retail sales as luxury tourist shoppers remain unable to visit... | | | | | | | The Lend Trend | | | | WITH LEAH MEIROVICH | Luxury rental businesses have been popping up over the last few years and gaining popularity among younger consumers, but established jewelers are also hopping aboard this high-speed train. | | | | | WEEKLY NEWS | | | | | | Signet to Buy Diamonds Direct for $490M | | Retail giant raises third-quarter guidance. | | | | | LVMH Jewelry Sales Get Boost from Tiffany | | Category up 18% in three months ending September 30. | | | | | Chow Tai Fook Sales Rise in China and Hong Kong | | Gold jewelry drives improvement during second fiscal quarter. | | | | | Profits Return at Hong Kong Jeweler TSL | | Retailer cites strong mainland demand and measures to control costs. | | | | | Michael Hill’s Same-Store Sales Rise in First Quarter | | Demand in Canada was strong as economy reopened. | | | | | Borsheims Appoints Technology and Security Exec | | Sunil Luthra began working for jeweler as a director in 2010. | | | | | | | | | Sotheby’s Rakes In $50M at Hong Kong Auction | | Ring featuring fancy-vivid-blue and pink diamonds was top seller, garnering $4.5 million. | | | | | Alrosa Sales Drop as Rough Rebound Slows | | Diamond revenues fell 11% year on year in September. | | | | | Pigeon’s Blood Rubies to Lead Christie’s Sale | | 8.11-carat ring carries high estimate of $4.5 million at Hong Kong Magnificent Jewels auction. | | | | | Costco Sees Solid Jewelry Sales | | Warehouse sold two $100,000-plus diamond rings in three months ending August 29. | | | | | Diamond, Emerald Mughal Glasses Hit Auction Block | | Each pair carries a high estimate of $3.4 million at Sotheby’s. | | | | | | | | | De Beers Reaches 20-Year Deal with Namibia | | Company extends land-based mining through 2042. | | | | | Alrosa Notes Robust Demand at Big-Stone Sales | | Russian miner brings in $37.8 million from three auctions of rough weighing 10.8 carats or more. | | | | | Lucara Mulls Clara Spin-Off, New Botswana Mine | | Turning digital sales platform into independent vehicle would help entice third-party producers, says group CEO Eira Thomas. | | | | | Rio Tinto Takes 75% Stake in Angola Exploration Site | | Miner will evaluate opportunities at Chiri kimberlite in joint venture with state-owned Endiama. | | | | | Lucapa Raises 2021 Forecast Amid Strong Demand | | Company increases revenue guidance by up to 27% for full year. | | | | | Another ‘Diamond Inside a Diamond’ Comes to Light | | India Bore recovers “matryoshka” stone at Ellendale mine. | | | | | Grib Mine in Russia Yields 118ct. Diamond | | Stone is fifth over 50 carats this year from the deposit. | | | | | | Contact Us |  |       | | © Copyright 2021 Martin Rapaport. All Rights Reserved. | | Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks. | |
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