Sarine Technologies has entered into a collaboration with diamond-industry consultancy Constell Group that will focus on improving efficiency for the lab-grown supply chain.“The application of Sarine’s advanced technological solutions to many of the currently manual processes will increase the.
IGI Debuts Training Courses in Egypt
RAPAPORT. The International Gemological Institute (IGI) has begun offering education services in Egypt, expanding its footprint from its current eight facilities.
The institute offers training courses that cover fundamental jewelry topics such as raw-diamond classification and jewelry design, it said Monday. IGI also provides trainees the option of becoming certified specialists in precious stones, it added.
“This expansion is in line with the institute’s ongoing efforts to be a growth catalyst in market development by educating the industry professionals as well as by attracting the best talent in the sector with formal globally recognized gemology-education opportunities,” said IGI general manager Shaunak Shastree.
Christie’s Unveils Vintage Selection for Paris Sale
RAPAPORT. A necklace made in 1925 by Jean Fouquet will be the flagship item in a selection of vintage jewelry at an online sale by the French unit at Christie’s.
This piece is expected to fetch up to EUR 450,000 ($551,254) at the June 21 to July 5 sale, which will offer a range of 19th to early 20th century jewelry. The white gold and silver necklace is an example of jewelry influenced by the artistic movement of the French Union of Modern Artists of which the Fouquet family was a member, the auction house said.
Lucapa to Buy Merlin Diamonds in Australia
The acquisition agreement with Merlin Operations complements Lucapa’s existing portfolio, the miner said Monday.
“This is a strategic acquisition which represents a value-accretive and logical step in Lucapa’s production strategy,” managing director Stephen Wetherall said. The project is “a strong complementary fit” with the company’s two niche productions in Africa that are set to produce “solid returns” in 2021, he added.
Merlin is the source of Australia’s largest mined rough diamond on record a 104-carat, white, type IIa diamond, Lucapa said. The project offers an existing resource estimate of 4.4 million carats. The deal includes 24 square kilometers of mining lease and a 283-square-kilometer exploration tenement. An asset on tenement is rented to multiple tenants.
Watches of Switzerland Sales Soar
RAPAPORT. Watches of Switzerland reported strong sales growth in its fiscal fourth quarter, reflecting both the boost from e-commerce in the UK and an easing of restrictions in the US.
Group revenue surged 76% year over year to GBP 218.2 million ($308.9 million) over the 14 weeks ending May 2, the UK-based company said last week. Relative to the fourth quarter of 2019, which excludes the effects of the coronavirus pandemic, revenue still grew by 22%.
In the UK, which accounted for just under two-thirds of group revenue for the quarter, online sales soared by 218%. Stores also experienced “strong” growth after reopening from lockdown earlier this year. The launch of three boutiques further developed the mono-brand channel, which offers a wide range of products from a single brand.