Petra Diamonds has halted production at its Williamson mine in Tanzania for at least three months following a wall breach.The pause will give the company time to build a new tailings storage facility that was already under construction before last week’s incident at the site. The new facility...
US shoppers shelled out cash heartily online for holiday gifts in October as retailers offered deals to get customers spending early.Total e-commerce sales for the month rose 11% over September’s figure to $72.2 billion and were on par with the $72.4 billion spent in October 2021, even as...
Revenue from Richemont’s jewelry brands was solid in the first fiscal half as demand grew in all regions and the Asia-Pacific market recovered.Sales from the company’s jewelry maisons — Cartier, Van Cleef & Arpels, and Buccellati — rose 24% year on year to EUR 6.34 billion ($6.58 billion)...
Brilliant Earth lowered its outlook ahead of the crucial fourth quarter, noting that consumers were hesitant about making purchases.The online-focused jeweler expects full-year sales of $436 million to $446 million, down from an earlier forecast of $450 million to $470 million, it said...
RAPAPORT... A surge in visits to the GemGenève show signaled strong orders despite global economic uncertainty. More than 5,000 people attended the Swiss gem and jewelry fair’s fifth edition from November 3 to 6, according to preliminary figures from organizers — over 7% more than the...
News: Polished trading cautious as Indian suppliers return from Diwali break. US driving demand. Focus on memo as jewelers limit inventory during economic uncertainty. Rising expectations for the season; NRF projects Nov.-Dec. retail sales +6% to +8%. Consolidation continues as JBT reports...
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Kering-owned jewelry brand Pomellato has established a long-term equity partnership with an Italian goldsmith company that will help improve its manufacturing capabilities.The minority interest in Valenza-based Costanzo & Rizzetto will provide Pomellato with additional productive capability...
A blue diamond weighing 5.53 carats failed to find a buyer at Sotheby’s Geneva on Wednesday despite being billed as the star of the auction. The cushion brilliant-cut, fancy-vivid-blue diamond is part of an eight-piece group called the De Beers Exceptional Blue Collection, which Sotheby’s has...
The Fortune Pink diamond was the top seller at Tuesday’s Christie’s jewelry auction in Geneva, bringing in nearly $29 million.The 18.18-carat stone, the largest pear-shaped, fancy-vivid-pink diamond ever offered at auction, fetched CHF 28.4 million ($28.9 million) at the November 8 Magnificent...