Jewelry Sales Support Richemont in Tough Year
RAPAPORT. Jewelry sales at Richemont grew 3% for the full fiscal year as double-digit increases in Asia Pacific, the Middle East and Africa outweighed a lackluster performance in other regions.
Proceeds from the category rose to EUR 7.46 billion ($9.08 billion) for the 12 months ending March 31, Richemont said last week. The increase was driven by solid sales of the company’s Cartier, Van Cleef & Arpels, and Buccellati brands in the second half of year, when stores reopened following a lockdown period. Online sales of jewelry saw a triple-digit rise for the year, Richemont noted. Operating profit for the jewelry division grew 11% to EUR 2.31 billion ($2.81 billion).
12ct. Diamond Crushes Estimate at Skinner Sale RAPAPORT. A 12.20-carat, marquise-cut diamond was the top seller at a recent Skinner Auctioneers sale, more than tripling its high estimate.
The unmounted, G-color, SI1-clarity diamond fetched $472,000, well above its $150,000 valuation, at the May 18 sale, Skinner said Saturday. The stone came from the descendants of Irene Langhorne Gibson, who is thought to have modeled for her husband, Charles Dana Gibson. The famous American artist and illustrator created the Gibson Girl image, a personification of the feminine ideal that became popular in the late 19th and early 20th centuries.
An antique ring set with a circular-cut Kashmir sapphire flanked by diamonds, which has been in the same family for over a century, also smashed its $20,000 high estimate, garnering $125,000 at the auction.
The Responsible Jewellery Council (RJC) has joined a United Nations forum that aims to step up sustainability at businesses worldwide.In an effort to bring more companies in line with its 17 Sustainable Development Goals (SDGs), the UN Global Compact (UNGC) recently established the SDG Ambition.
Shairu Becomes India’s ‘First Carbon-Neutral Cutter’
RAPAPORT. Shairu Gems Diamonds claims to have become India’s first natural-diamond manufacturer to achieve carbon-neutral status, using offsets to cancel out emissions.
The company worked with consultants Natural Capital Partners to calculate its carbon footprint across its own global operations, as well as emissions resulting from third-party transporters and distributors, business travel and employees’ commutes. It then bought carbon offsets that exceeded this total, Shairu, a De Beers sightholder, explained Thursday.
“We increasingly see luxury consumers assessing the social and environmental impact of their purchase decisions,” said Shairu director Siddharth Mehta. “Our pursuit for positive climate action will only benefit our retail partners in meeting their luxury consumers’ needs.”
An 8.21-carat diamond ring was the top seller at the Bonhams New York Jewels sale, garnering $500,313, nearly double its high estimate.The piece, set with an oval-shaped modified brilliant-cut, D-color, VS1-clarity diamond, was designed in 1910. It was the star of the May 19 auction, which.