TradeWire® Weekly Email

Date:

October 14, 2021
RAPAPORT MARKET COMMENT
image

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)
image
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%
RAPI Yearly Graph
Market Reports
image
United States: Pent-up wedding demand fueling robust engagement-ring sales...
image
Belgium: Fancy shapes and fancy colors improving as consumers seek unique pieces...
image
Israel: Dealers looking for merchandise but struggling to find lucrative opportunities...
image
India: Profit margins tight due to expense of rough...
image
Hong Kong: Quarantine rules continue to limit retail sales as luxury tourist shoppers remain unable to visit...
image
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.

UPS AND DOWNS
image
image
image
image
image
WEEKLY NEWS
retail
image
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.
industry
image
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.
mining
image
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
image
Facebook  Twitter  LinkedIn  Google+  RSS  Email
© Copyright 2021 Martin Rapaport. All Rights Reserved.
Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.