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Rapaport TradeWire October 15, 2020

Oct 15, 2020 10:39 AM   By Rapaport
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Rapaport TradeWire
October 15, 2020
RAPAPORT MARKET COMMENT
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Rising expectations for US holiday season. Retailers beginning early promotions and planning for longer 4Q selling period to avoid overcrowding among last-minute shoppers. Shortages supporting polished prices after manufacturing down by estimated 50% in 2020. Large volume of new polished expected to become available before year’s end following strong 3Q rough buying. De Beers Sep. sales +57% to $467M, Alrosa +28% to $328M. GIA launches four digital synthetic-diamond reports specifying 4Cs and growth method. New CIBJO guidelines say lab-grown diamonds should get “product specifications” instead of grading reports in order to preserve rarity of natural diamonds.

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RAPNET DIAMOND INDEX (RAPI)
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Weekly Monthly Y2Y
0.30 ct -0.75% 2.59% 14.55%
0.50 ct 0.02% 5.23% 19.78%
1.00 ct 0.38% 1.86% 2.86%
3.00 ct -0.05% 0.54% -4.11%
RAPI Yearly Graph
Trade Wire 600X160 April 2018
Market Reports
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United States: Steady memo calls as retailers limit owned inventory in the Covid-19 economy...
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Belgium: Good European demand as limited travel prompts dealers to focus on the local market...
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Israel: Shortages supporting prices for certain categories, but large volume of goods expected to become available as production levels rise...
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India: Polishing factories operating at around 70% capacity as manufacturers prepare for rise in holiday orders...
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Hong Kong: Slow retail sales during important Golden Week shopping period due to slump in tourism and weak consumer sentiment...
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Gia Tw Banner Id100 11 June 20
Diamond Trends Webinar: A Holiday Season Like No Other
WITH Avi Krawitz

In our quarterly webinar series, we will assess the state of the diamond market at the start of the all-important fourth-quarter holiday season, and outline the trade’s strengths, weaknesses, opportunities and threats. The webinar will take place on Wednesday, October 21, 2020, at 10 a.m. EST.

The Importance of Being Tiffany
WITH Rapaport Research Report

The October issue of the Rapaport Research Report outlines why the legal battle between Tiffany & Co. and LVMH over their failed acquisition deal has ramifications for the diamond and jewelry industry. 

UPS AND DOWNS
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Alrosa Sees Diamond Sales Stabilizing in 4Q
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Alex and Ani Founder to Launch New Company
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Retailers Brace for More Pandemic Trouble
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Uncertainty at Ekati Mine Takes Toll on Workers
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WEEKLY NEWS
industry
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Alrosa Cancels October Rough Sale
Miner seeks to avoid releasing too many goods amid fragile market recovery.
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‘Grading’ Is Just for Natural Diamonds, Says CIBJO
Reports on synthetic stones should be called “product specifications” instead, World Jewellery Confederation insists.
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Sotheby’s Expects Pink to Fetch Up to $38M
The diamond, named Spirit of the Rose, comes from Alrosa’s Ebelyakh mine in Yakutia.
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GIA Unveils New Lab-Grown Reports
Documents are digital-only format and include specific color and clarity grades.
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Pandemic Boosting Demand for Secondhand Luxury
Market for pre-owned watches and jewelry growing 8% per year, according to Boston Consulting Group.
retail
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Tiffany Encouraged by 3Q Momentum
Strong growth in China and e-commerce sales driving recovery.
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How a Client Advisory Board Can Help Your Store
Bringing your best customers and brand advocates into the decision-making process can give you an edge in serving your target market, say jewelry experts.
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Pandora Raises Full-Year Forecast
Jump in online sales and reopening of stores lead to improved revenue.
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Tse Sui Luen Expects Loss Amid Tourist Slowdown
Pandemic hits Hong Kong-based jeweler’s sales in fiscal half ending September 30.
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Michael Hill Sees Rise in Same-Store Sales
Increased online purchasing and desire for branded pieces buoy revenue.
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De Beers September Sales Soar 57%
Miner records highest total since January as manufacturers seek goods for holidays.
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Alrosa Sees Continued Improvement in Sales
Revenue up 30% year on year in September as manufacturers return to buying.
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Star Diamond Considers Nixing Deal with Rio Tinto
Company believes Australian miner is breaking large diamonds during removal process.
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Dominion’s Ekati Sale Falls Through
Insurers failed to reach agreement with buyer of mine in Canada.
general
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US Diamond Trade Declines in August
Polished imports slide 39%; exports fall 37%.
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Bonhams Appoints New Chairman
Hans-Kristian Hoejsgaard will take over from Bruno Vinciguerra, who has become global CEO.
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Diamond Wholesaler Ralph Vantyghem Dies
He and his wife founded Canada’s Vantyghem Diamonds in 1973.
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Hong Kong Show Cancellation Hits Belgium Trade
Polished exports down 40% in September as recovery stalls.
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Jewelers for Children Unveils Annual Donations
Organization to distribute $475,000 this year, bringing running total to $57.3 million since 1999.
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FINANCE
Diamond Industry Stock Report
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Global retail stocks took a tumble amid uncertainty over whether the US government would approve a new stimulus package. Swatch Group (-7%), Chow Tai Fook (-4%), Chow Sang Sang (-4%) and Richemont (-4%) all fell. However, US retail rose as investors prepared for strong holiday sales, with Signet (+10%), Macy’s (+3%), Walmart (+2%) and Tiffany (+1%) all gaining. Mining shares were mixed: Mountain Province (-11%) and Lucara (-5%) fell, while Lucapa (+3%) and Gem Diamonds (+3%) climbed.

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