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Diamonds.net - Petra Puts Tanzania Mine on Pause for Three Months

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...

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Diamonds.net - Early Deals Support October Holiday Shopping

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...

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Diamonds.net - Richemont Jewelry Sales Jump Amid Global Strength

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)...

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Diamonds.net - Brilliant Earth Warns of Caution Among Consumers

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...

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Diamonds.net - Positive Mood at GemGenève Fair

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...

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Diamonds.net - Rapaport Market Comment - November 10, 2022

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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Diamonds.net - New Rapaport.com Website to Launch Tuesday, Nov. 15.

Dear Friends, The world is changing, and so is Rapaport. We are revolutionizing our information services. Rapaport is now going super-digital.Rapaport digital news and editorial will now be free at Rapaport.com. Our new website launches this Tuesday, November 15, 2022. Rapaport.com will be our...

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Diamonds.net - Pomellato Acquires Minority Stake in Italian Goldsmith

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...

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Diamonds.net - De Beers Blue Diamond Fails to Sell at Sotheby's

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...

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Diamonds.net - 18ct. Pink Diamond Rakes In $29M at Christie's

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...

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