RAPAPORT... Gemfields’ earnings more than doubled in the first half of the year as the colored-stone miner returned to its usual auction cycle and demand strengthened.Net profit after tax came to around $56.7 million for the six months ending June 30, compared with $23.8 million a year...
RAPAPORT... De Beers Forevermark has performed a U-turn on its strategic revamp following customers’ responses.
The company will maintain its current practice of allowing partners to buy loose stones from the brand and its authorized suppliers, a spokesperson told Rapaport News Wednesday....
News: Polished demand slower than usual at this time of year. Jewelers optimistic for holiday season but hesitant to buy inventory. Consumers seeking convenient and interactive shopping experience that combines digital and in-store platforms. De Beers rough prices stable at Sep. sight;...
The Jewish New Year is a time for reflection about who we are and what we do. The diamond trade is blessed with a product that celebrates all that is good in life. The joy of gifting, connecting and loving is the message of diamonds. The diamond and jewelry trade makes the world a better...
Grib Diamonds, which markets rough from one of Russia’s largest mines, has canceled next month’s auction after a bank blocked customers’ payments at a previous sale.“In order to avoid a similar situation during the next auction, and due to the fact that Grib Diamonds has no influence on the...
RAPAPORT... Retail jewelers must give a more honest account of the contribution natural diamonds make to communities and the environment or risk having mistruths embedded in the consumer psyche, industry analyst Kieron Hodgson cautioned on the Rapaport Diamond Podcast.
“Retail outlets...
s Queen Elizabeth II was celebrating her Platinum Jubilee in the UK this summer to mark an impressive 70 years on the throne, platinum jewelry was seeing robust sales in the US. While the two achievements are unrelated, the 19th-century tradition of naming a rarely accomplished 70th anniversary...
LVMH head Bernard Arnault famously said that “luxury goods are the only area in which it is possible to make luxury margins.” But what does it actually take to shed the commodity tag and position a product firmly as luxury? More importantly, how can we apply this to the diamond and jewelry...
More than 100 extremely rare timepieces from a single owner will make their auction debut at a Christie’s sale later this year.The 112 watches were collected over a 40-year period and include some of the earliest pieces by Patek Philippe, Rolex and other well-known makers. The sale, called...
RAPAPORT... Lucapa Diamond Company has recovered a 131-carat, type IIa diamond at its Lulo deposit in Angola. The rough is the 29th stone of 100 carats or more that the miner has unearthed at the site, and the fourth on that scale since the start of the year, it said Wednesday.“Angola has...