RAPAPORT...
US polished-diamond imports rose 55% year on year to $2.2
billion in June, capping off a strong first half of 2022, according to recent data
from the country’s Department of Commerce. Imports for the six months gained
38% year on year.
US Trade Data for June 2022 ...
RAPAPORT... India’s polished-diamond exports fell 13% year on year in July, according to recent data from the Gem & Jewellery Export Promotion Council (GJEPC). The decline reflects a global market slowdown and an unfavorable comparison with 2021’s post-lockdown rebound.
India Trade...
RAPAPORT... Richemont has sold a 47.5% stake in Yoox Net-a-Porter (YNAP) to Farfetch as it edges closer to removing the loss-making e-commerce business from its books.
The Swiss conglomerate will receive shares in Farfetch in return, the group said Wednesday. It has also sold 3.2% of YNAP...
Watches of Switzerland warned of a “potentially more challenging trading environment” for the rest of the year despite reporting strong growth in the past three months.Group sales jumped 31% year on year to GBP 391 million ($460.2 million) in the first fiscal quarter, which ended July 31, the...
Sarine Technologies has started enabling manufacturers to carry out automated diamond grading on-site using artificial intelligence (AI).The company has launched its e-Grading product for an “expanded number” of cutting firms, it said Monday.The Israeli producer of equipment for the diamond...
Pandora will introduce lab-grown diamonds in North America later this month following a trial in the UK, the jewelry retailer announced Tuesday.The line will be available from August 25 across 269 of its stores in the US and Canada, as well as online, the company said. Prices will start at...
RAPAPORT... Titan Company’s diamond-sourcing costs have jumped in the past eight months, prompting the Indian retailer to pass price increases on to shoppers, its top jewelry executive said.
The jeweler raised consumer prices in November 2021, January 2022 and March 2022 in response to...
RAPAPORT... Richemont chairman Johann Rupert has urged shareholders to vote against an investor’s proposal to appoint a former LVMH executive to the group’s board.Bluebell Capital Partners has called for the selection of its cofounder Francesco Trapani as representative of Richemont’s class...
RAPAPORT... Revenue rose strongly at Brilliant Earth in the second quarter as the US retailer expanded its online-offline model and benefited from higher sales of fine jewelry.Sales jumped 18% year on year to $108.8 million for the period, the digital-focused jeweler reported Thursday. Net...
RAPAPORT... The State Bank of India (SBI) has begun financing synthetics producers and is thought to be the country’s first lender to draw up a formal policy for the sector.The government-owned bank will fund purchases of equipment such as growing machines, a source at SBI told Rapaport News...