President of Dominion Diamonds Marketing Corporation James R.V. James RW Pounds and Vice President of Sales Harsh Dalal arrived in Israel this week to hold a series of talks with participants and representatives of the Israeli diamond industry, in particular, to meet with the president of the Israeli Diamond Exchange (Israel Diamond Exchange, IDE) by Yair Sahar. Pounds and Dalal arrived a few days before the opening of the American and International Diamond Week in Israel (US & Israel Diamond Week) to be able to find new customers and meet potential buyers of Dominion diamond products, the IDE press service told Rough & Polished.
"We thank Jim Pounds and Harsch Dalal for accepting the invitation and coming to Israel to learn about the enormous and impressive marketing opportunities for their products we are creating here in Israel," Sugar said. "Pounds' visit was the result of preliminary negotiations, which I conducted for several months. Participants in the Israeli diamond industry need support from such diamond suppliers as Dominion to maintain production volumes, so that Israel and Dominion can create a symbiosis ...
Monday, April 30, 2018
The Hong Kong Diamond and Gemstones Laboratory EGL Asia has added a new service - the release of reports or certificates for laboratory-created diamonds of jewelry quality, according to a press release from the company.
Joseph Kuzi, General Director of the Laboratory, said that the interest and demand for laboratory stones in the Asian market is growing, which necessitates the appropriate certification of man-made gemstones, which are currently being sold in the retail and consumer markets of Asia.
The laboratory's services are currently used by both suppliers of laboratory diamonds and sellers of natural gemstones. For example, Chow Tai Fook uses EGL Asia reports to confirm the natural origin of all small diamonds used in its products.
"Naturally, reports on laboratory stones differ significantly from reports on natural diamonds," Kuzi said. Nevertheless, like natural diamonds, the laboratory evaluates laboratory stones according to the classical 4C system, taking into account such characteristics as size, proportions, symmetry, faceting and glow.
Joseph Kuzi, General Director of the Laboratory, said that the interest and demand for laboratory stones in the Asian market is growing, which necessitates the appropriate certification of man-made gemstones, which are currently being sold in the retail and consumer markets of Asia.
The laboratory's services are currently used by both suppliers of laboratory diamonds and sellers of natural gemstones. For example, Chow Tai Fook uses EGL Asia reports to confirm the natural origin of all small diamonds used in its products.
"Naturally, reports on laboratory stones differ significantly from reports on natural diamonds," Kuzi said. Nevertheless, like natural diamonds, the laboratory evaluates laboratory stones according to the classical 4C system, taking into account such characteristics as size, proportions, symmetry, faceting and glow.
The company Harry Winston held a presentation of a new collection of jewelry called "Loop Collection", the portal Diamond World. This summer series of sparkling jewelry consists of necklaces, earrings, rings and pendants. Among the most striking names in the collection are Diamond Loop Charm pendants with two rings of round cut diamonds, an average weight of 0.52 carats made of platinum, and 17.65 mm small Diamond Diamond earrings studded with 22 round cut diamonds weighing 1, 1 carat, set in platinum. The ring from the collection Loop Collection is also made of platinum with three round diamonds weighing 3.08 carats.
Richland Resources will carry out direct sales of tanzanites around the world, opening an online store. In online boutique Richland will be presented as unguided tanzanites, and jewelry with tanzanites.
For the first time, Richland Resources has the opportunity to sell precious stones directly to customers who are outside the African continent.
Richland CEO Bernard Olivier said that thanks to the launch of the online store, the company's activities now cover the entire cycle of production and turnover of precious stones "from the mine to the market."
The company Tribhovandas Bhimji Zaveri Limited (also known as TBZ-The Original) - a well-known Indian jewelry retailer with rich traditions and a 150-year history - was awarded the MACCIA Award 2013 for achievements in commercial activities among large enterprises in the precious stones and jewelry industry. Shrikant Zaveri, Chairman and CEO of Shrikant Zaveri, received the award from the hands of Honorable Minister Sharad Pawar during a ceremony organized by the Chamber of Commerce and Industry of the Indian State of Maharashtra (MACCIA).
The annual MACCIA award is aimed at recognizing the merits and outcomes of enterprises that have contributed to the development of the state of Maharashtra and the strengthening of its image and position at the state level and the international arena.
TBZ-The Original was founded 150 years ago in the jewelery market in Mumbai - Zaveri Bazaar.
The MACCIA award is awarded on the basis of the methodology developed by the ICRA rating agency, which takes into account the different quantitative and qualitative indicators of TBZ's operations, applying a systemic approach.
When selecting the finalists of the competition, all factors were taken into account, and ICRA applied a weighted scoring system.
The annual MACCIA award is aimed at recognizing the merits and outcomes of enterprises that have contributed to the development of the state of Maharashtra and the strengthening of its image and position at the state level and the international arena.
TBZ-The Original was founded 150 years ago in the jewelery market in Mumbai - Zaveri Bazaar.
The MACCIA award is awarded on the basis of the methodology developed by the ICRA rating agency, which takes into account the different quantitative and qualitative indicators of TBZ's operations, applying a systemic approach.
When selecting the finalists of the competition, all factors were taken into account, and ICRA applied a weighted scoring system.
The company Tribhovandas Bhimji Zaveri Limited (also known as TBZ-The Original) - a well-known Indian jewelry retailer with rich traditions and a 150-year history - was awarded the MACCIA Award 2013 for achievements in commercial activities among large enterprises in the precious stones and jewelry industry. Shrikant Zaveri, Chairman and CEO of Shrikant Zaveri, received the award from the hands of Honorable Minister Sharad Pawar during a ceremony organized by the Chamber of Commerce and Industry of the Indian State of Maharashtra (MACCIA).
The annual MACCIA award is aimed at recognizing the merits and outcomes of enterprises that have contributed to the development of the state of Maharashtra and the strengthening of its image and position at the state level and the international arena.
TBZ-The Original was founded 150 years ago in the jewelery market in Mumbai - Zaveri Bazaar.
The MACCIA award is awarded on the basis of the methodology developed by the ICRA rating agency, which takes into account the different quantitative and qualitative indicators of TBZ's operations, applying a systemic approach.
When selecting the finalists of the competition, all factors were taken into account, and ICRA applied a weighted scoring system.
The annual MACCIA award is aimed at recognizing the merits and outcomes of enterprises that have contributed to the development of the state of Maharashtra and the strengthening of its image and position at the state level and the international arena.
TBZ-The Original was founded 150 years ago in the jewelery market in Mumbai - Zaveri Bazaar.
The MACCIA award is awarded on the basis of the methodology developed by the ICRA rating agency, which takes into account the different quantitative and qualitative indicators of TBZ's operations, applying a systemic approach.
When selecting the finalists of the competition, all factors were taken into account, and ICRA applied a weighted scoring system.
Gemological Institute of America (Gemological Institute of America, GIA) on August 27 and 28 will organize a presentation on the processing of rubies and sapphires, as well as pearls, which will be held at the Tokyo Jewelry Fair in Tokyo, Rapaport reports.
Ahmadjan Abduriyim, senior expert of the GIA and manager of services related to colored gemstones, will tell visitors about the latest technologies in the processing of rubies and sapphires, which improve their quality and color characteristics.
Ahmadjan Abduriyim, senior expert of the GIA and manager of services related to colored gemstones, will tell visitors about the latest technologies in the processing of rubies and sapphires, which improve their quality and color characteristics.
The growth rate of the Chinese economy is slowing, and the prospects for the Asian market are no longer considered in such a rosy color, but these circumstances have not changed the intentions of the auction house Sotheby's, which plans in October to put up for sale in Hong Kong an expensive diamond worth millions of dollars, writes the NY Times.
It is assumed that the diamond called "The Premier Blue" will be sold at Sotheby's auction on October 7.
The stone weighs 7.59 carats, its uniqueness and rarity is determined by a bright blue color, as well as a round type of diamond, uncharacteristic for colored diamonds. It is expected that the value of this lot at the auction will be about $ 19 million, according to Quek Chin Yeo (Quek Chin Yeow), deputy chairman and head of jewelry at Sotheby's in Asia. Thus, this stone can set a new record for the price per carat.
The choice among the trading platforms fell on Hong Kong, as Asia has recently become a prominent consumer of luxury goods, and sharp economic growth has led to an increase in the number of very wealthy citizens.
"Approximately from 2006 or 2007, Hong Kong has risen on the same level with such major jewelry sales centers as Geneva and New York," Kueck said. "Now it is the third largest jewelry market."
The preview of the blue diamond along with other lots will be held in a number of major Asian cities - in Beijing, Shanghai, Bangkok, Singapore, Jakarta and Taiwan.
It is assumed that the diamond called "The Premier Blue" will be sold at Sotheby's auction on October 7.
The stone weighs 7.59 carats, its uniqueness and rarity is determined by a bright blue color, as well as a round type of diamond, uncharacteristic for colored diamonds. It is expected that the value of this lot at the auction will be about $ 19 million, according to Quek Chin Yeo (Quek Chin Yeow), deputy chairman and head of jewelry at Sotheby's in Asia. Thus, this stone can set a new record for the price per carat.
The choice among the trading platforms fell on Hong Kong, as Asia has recently become a prominent consumer of luxury goods, and sharp economic growth has led to an increase in the number of very wealthy citizens.
"Approximately from 2006 or 2007, Hong Kong has risen on the same level with such major jewelry sales centers as Geneva and New York," Kueck said. "Now it is the third largest jewelry market."
The preview of the blue diamond along with other lots will be held in a number of major Asian cities - in Beijing, Shanghai, Bangkok, Singapore, Jakarta and Taiwan.
The auction house Sotheby's reported a slight increase in revenue to $ 304.9 million in the second quarter, ending June 30, 2013. The company's expenses increased by 2.4% on a year-on-year basis, to $ 171.6 million, Rapaport reports. At the same time, profit for the period increased by 7.4% to $ 91.7 million.
In the first half of the year, the auction house Sotheby's registered a decrease in revenues by 0.6% to $ 406.6 million, an increase in costs by 4.8% to $ 406.6 million and a drop in profits of 7.2% to $ 69.4 million.
The total commission increased due to an increase in the seller's premium rate from March 15, which provided an additional income of $ 19.8 million in the second quarter.
In the first half of the year, the benefit from the new structure was compensated by a reduction in the seller's margin of profit and the consequences of competition for obtaining large quantities of goods for sale.
jewelry company Tiffany & Co, which is due to lower material costs and improved sales of silver products, which will increase the profit margin, Rapaport reports.
Sterne Agee retained its Tiffany rating on a "neutral" level, but the company's earnings per share estimate was raised from $ 3.46 to $ 3.95 to $ 3.50 to $ 4. In addition, Sterne Agee announced an increase in the forecast for Tiffany shares to $ 86 per share. Following the trading session on the New York Stock Exchange on August 14, Tiffany shares were valued at $ 81.60.
According to analysts, the factors restraining the growth of the gross profit margin of Tiffany in 2012 will be overcome this year due to a reduction in raw material costs and the ability of the retailer to raise prices for final products, as well as by improving the sales of silver products.
Sterne Agee retained its Tiffany rating on a "neutral" level, but the company's earnings per share estimate was raised from $ 3.46 to $ 3.95 to $ 3.50 to $ 4. In addition, Sterne Agee announced an increase in the forecast for Tiffany shares to $ 86 per share. Following the trading session on the New York Stock Exchange on August 14, Tiffany shares were valued at $ 81.60.
According to analysts, the factors restraining the growth of the gross profit margin of Tiffany in 2012 will be overcome this year due to a reduction in raw material costs and the ability of the retailer to raise prices for final products, as well as by improving the sales of silver products.
The global demand for gold jewelry reached 576 tons ($ 26 billion) in the second quarter of this year, which is 37% higher than the corresponding figure for the same period in 2012, when demand was 421 tons, according to the latest report of the World Gold Council (WGC). It is noted that the highest level of demand for the last five years was recorded.
The demand for gold jewelry in China increased by 54% compared to a year earlier, and in India it grew by 51%. The WGC report shows a significant increase in demand for jewelry in other countries and regions - in the Middle East it was 33%, and in Turkey - 38%.
Investments in gold bullions and coins increased worldwide by 78% on a year-on-year basis, for the first time exceeding the threshold of 500 tons per quarter. In China, the demand for gold bars and coins jumped by 157%, and in India - by 116% and reached a record of 122 tons. The total world demand for jewelry, bullion and coins in the second quarter was 1,083 tons, which is 53% more than in the same period last year.
The demand for gold jewelry in China increased by 54% compared to a year earlier, and in India it grew by 51%. The WGC report shows a significant increase in demand for jewelry in other countries and regions - in the Middle East it was 33%, and in Turkey - 38%.
Investments in gold bullions and coins increased worldwide by 78% on a year-on-year basis, for the first time exceeding the threshold of 500 tons per quarter. In China, the demand for gold bars and coins jumped by 157%, and in India - by 116% and reached a record of 122 tons. The total world demand for jewelry, bullion and coins in the second quarter was 1,083 tons, which is 53% more than in the same period last year.
Tiffany & Co. reported an increase in revenues by 4.4% on a year-on-year basis to $ 925.9 million in the second fiscal quarter ended July 31, 2013, Rapaport reports. Sales in comparable stores around the world grew by 1%. The cost of sales showed an increase of 1.6% to $ 393.8 million, and gross profit as a percentage of sales increased to 57.5% compared to 56.3% in the same period last year, mainly due to a reduction in production costs goods. The profit of Tiffany for the reporting quarter jumped 16.3% to $ 106.8 million, or 83 cents per diluted share.
Dynamics of sales of Tiffany by region, taking into account constant exchange rates, is as follows: sales revenue in the Americas region grew by 2% to $ 444 million, sales in comparable stores remained stable. In the Asia-Pacific region, sales increased by 20% to $ 208 million, while sales in comparable stores increased by 13%, sales in Japan increased by 7% to $ 136 million. Meanwhile, sales revenue in Europe grew by 10% to $ 111 million with sales growth in comparable stores by 7%.
As of July 31, the volume of commodity stocks Tiffany & Co. was estimated at $ 2.3 billion, which is 4% higher than the corresponding figure a year earlier. The growth in finished goods stocks is explained by the need to provide goods with new stores and the expansion of the range, while the stocks of Tiffany's raw materials slightly decreased.
In the second quarter, Tiffany opened three new stores - in Hong Kong, Verona (Italy) and Villaermosa (Mexico), and closed the store in Tokyo (Japan). Currently, the retail chain Tiffany has 277 stores compared to 260 stores a year earlier.
Dynamics of sales of Tiffany by region, taking into account constant exchange rates, is as follows: sales revenue in the Americas region grew by 2% to $ 444 million, sales in comparable stores remained stable. In the Asia-Pacific region, sales increased by 20% to $ 208 million, while sales in comparable stores increased by 13%, sales in Japan increased by 7% to $ 136 million. Meanwhile, sales revenue in Europe grew by 10% to $ 111 million with sales growth in comparable stores by 7%.
As of July 31, the volume of commodity stocks Tiffany & Co. was estimated at $ 2.3 billion, which is 4% higher than the corresponding figure a year earlier. The growth in finished goods stocks is explained by the need to provide goods with new stores and the expansion of the range, while the stocks of Tiffany's raw materials slightly decreased.
In the second quarter, Tiffany opened three new stores - in Hong Kong, Verona (Italy) and Villaermosa (Mexico), and closed the store in Tokyo (Japan). Currently, the retail chain Tiffany has 277 stores compared to 260 stores a year earlier.
Malabar Gold and Diamonds - one of the leading retail jewelry chains in India - held a presentation of a new line of jewelry with diamonds and other precious stones under the brand name Artistry.
The collection, represented by actress Sheeha (Sneha), includes several categories of jewelry under the names of Mine (diamond products), Era (products with diamonds), Divine (traditional jewelry), Ethnix (jewelry handmade), Precia (jewelry with various precious stones) and Starlet (line of jewelry for children).
The collection, represented by actress Sheeha (Sneha), includes several categories of jewelry under the names of Mine (diamond products), Era (products with diamonds), Divine (traditional jewelry), Ethnix (jewelry handmade), Precia (jewelry with various precious stones) and Starlet (line of jewelry for children).
A diamond industry analyst, Chaim Even-Zohar, completed the second day of the US and International Diamond Week in Israel with a lecture on the challenges and challenges currently facing the diamond industry, Israelidiamond.co reported. il.
The Even-Zohar report examined a number of important issues for the industry, including the management of De Beers and Anglo American companies and their objectives, banking services for the diamond industry, ethics issues, the stability of the diamond industry, synthetic diamonds and the like.
Even-Zohar spoke about the changes that have occurred in the De Beers group over the past few years, and how these changes have affected the diamond industry. He explained that De Beers decided to be active in all segments of the value chain in the diamond industry - "from the mine to the end consumer", essentially shifting the focus from the company's main diamond mining activities to processing and selling diamonds to consumers. On the contrary, ALROSA remained faithful to its main line of business - diamond mining, not engaged in retail sales, synthetic diamonds, diamond jewelry, branding and sorting laboratories, notes Even-Zohar. Even-Zohar stressed that De Beers is more interested in short-term profit than in the long term.
Even-Zohar predicts that prices for rough diamonds will remain at the same level in the next two or three years, although he recognizes that problems with banking services and the falling rate of rupees can greatly affect prices.
American and International Diamond Week in Israel, there was a very high attendance and activity in the building of the Israeli Diamond Exchange (IDE), according to a press release received by Rough & Polished.
On the morning of August 26, the IDE trade hall was filled with hundreds of representatives of Israeli diamond companies, buyers, high-ranking visitors and industry leaders on the eve of the official opening ceremony scheduled for this evening. Among the honored guests at the ribbon cutting ceremony were Conroy Cheng Chi-Heng, director of Chow Tai Fook Enterprises Limited, Lawrence Ma, president of the Diamond Federation of Hong Kong, Reuven Kaufman (Reuven Kaufman), president of the New York Diamond Dealers Club, famous Italian jewelry designer Roberto Coin, president of the World Jewelry Confederation
(CIBJO) Gaetano Cavalieri and numerous leaders of the Israeli diamond industry.
On the morning of August 26, the IDE trade hall was filled with hundreds of representatives of Israeli diamond companies, buyers, high-ranking visitors and industry leaders on the eve of the official opening ceremony scheduled for this evening. Among the honored guests at the ribbon cutting ceremony were Conroy Cheng Chi-Heng, director of Chow Tai Fook Enterprises Limited, Lawrence Ma, president of the Diamond Federation of Hong Kong, Reuven Kaufman (Reuven Kaufman), president of the New York Diamond Dealers Club, famous Italian jewelry designer Roberto Coin, president of the World Jewelry Confederation
(CIBJO) Gaetano Cavalieri and numerous leaders of the Israeli diamond industry.
The British jewelry brand Zaira Diamond recently opened its sixth premium retail store, which is located in the Preet Vihar quarter of the Main Market in Delhi. The opening ceremony of the jewelry salon was conducted by actress Ravena Tandon (Raveena Tandon).
Speaking at the opening ceremony, the director of Zaira Diamond (India) Pvt Ltd. Manoj Jain said: "We are very pleased to open our sixth retail store in New Delhi. The residents of the capital have always had an exquisite taste, and we hope to meet their expectations. The Zaira brand is associated with jewelry, quality and good design. "
Speaking at the opening ceremony, the director of Zaira Diamond (India) Pvt Ltd. Manoj Jain said: "We are very pleased to open our sixth retail store in New Delhi. The residents of the capital have always had an exquisite taste, and we hope to meet their expectations. The Zaira brand is associated with jewelry, quality and good design. "
Jewelry retailer Pandora plans to open a new central store on Oxford Street in London this month, which will be located in the Park House building, Rapaport reports. According to the message, the store will occupy 2 floors and will have a total trade area of 200 sq. M. m, becoming the largest branded brand salon in which it is also planned to hold various presentations and marketing events.
According to Peter Andersen, President of Pandora in the West European region: "London is the capital of fashion, and the opening of a brand store in Oxford Street will strengthen our position among the leading jewelry brands on the market. We wanted to open a store in London from the very beginning of the company, and we have been steadily moving towards this goal for the past five years ... "
According to Peter Andersen, President of Pandora in the West European region: "London is the capital of fashion, and the opening of a brand store in Oxford Street will strengthen our position among the leading jewelry brands on the market. We wanted to open a store in London from the very beginning of the company, and we have been steadily moving towards this goal for the past five years ... "
The expert of the diamond industry and Rapaport Group founder Martin Rapaport delivered a lecture on the state of the diamond industry in which he spoke about the current problems and challenges of various world markets and the best ways to do business, IDI reports.
Rapaport highlighted in its speech topical issues related to the entire diamond pipeline, as well as internal forces and factors affecting the diamond business, and the opportunities that they open.
Rapaport mentioned the break in prices for rough diamonds and diamonds, when it is difficult to profit from the sale of diamonds at higher prices for raw materials. He said that there are a number of participants in the market who are interested in maintaining this price discrepancy for a number of reasons, including for profit from monopolizing business and ensuring the supply of diamonds.
"I want to explain why the prices for rough diamonds are excessively high for a normal diamond manufacturer," Rapaport said, warning that high commodity prices deprive diamond producers of profits and stating that price disparity is temporary because the flow of financing diamond purchases will be reduced. "Your real inventory is your knowledge. The most important thing is your ability to adapt to changes in the world market, "Rapaport said, warning against purchases of raw materials at inflated prices.
Turning to the question of the world industry, Rapaport noted that India plays a very important role, but is currently experiencing great difficulties, mentioning the depreciation of rupees and the trade balance deficit.
As for Israel, according to Rapaport, it has every chance of success and opportunity to become the main center of diamond trade. "Israel provides added value by offering the right diamonds to the right customers at the right time and in a convenient place," said the head of the Rapaport Group.
Rapaport highlighted in its speech topical issues related to the entire diamond pipeline, as well as internal forces and factors affecting the diamond business, and the opportunities that they open.
Rapaport mentioned the break in prices for rough diamonds and diamonds, when it is difficult to profit from the sale of diamonds at higher prices for raw materials. He said that there are a number of participants in the market who are interested in maintaining this price discrepancy for a number of reasons, including for profit from monopolizing business and ensuring the supply of diamonds.
"I want to explain why the prices for rough diamonds are excessively high for a normal diamond manufacturer," Rapaport said, warning that high commodity prices deprive diamond producers of profits and stating that price disparity is temporary because the flow of financing diamond purchases will be reduced. "Your real inventory is your knowledge. The most important thing is your ability to adapt to changes in the world market, "Rapaport said, warning against purchases of raw materials at inflated prices.
Turning to the question of the world industry, Rapaport noted that India plays a very important role, but is currently experiencing great difficulties, mentioning the depreciation of rupees and the trade balance deficit.
As for Israel, according to Rapaport, it has every chance of success and opportunity to become the main center of diamond trade. "Israel provides added value by offering the right diamonds to the right customers at the right time and in a convenient place," said the head of the Rapaport Group.
American and international diamond week in Israel, organized by the Israeli Diamond Exchange (Israel Diamond Exchange), was opened. Buyers will be presented a wide range of diamond products worth more than a billion dollars.
One of the most important trade events within the diamond week will be an auction of diamonds, organized by the French-Israeli company Tzoffey's. Some of the lots of diamonds and other precious stones that are put up for auction are available for online inspection.
One of the most important trade events within the diamond week will be an auction of diamonds, organized by the French-Israeli company Tzoffey's. Some of the lots of diamonds and other precious stones that are put up for auction are available for online inspection.
Israeli company Gemstar, specializing in the production of emeralds, has acquired a unique emerald weighing over 2,000 carats at a recent auction of raw emeralds and beryl from the Kagem mine, organized in Zambia.
Chapter Gemstar Avraham Eshed (Avraham Eshed) does not disclose the cost of the 2,000-carat emerald, which he bought at the auction, the portal Israelidiamond.co.il.
The first lady of Zambia, Christine Kaseba (Christine Kaseba), met with Eshed during a series of trades with high-quality emeralds.
Chapter Gemstar Avraham Eshed (Avraham Eshed) does not disclose the cost of the 2,000-carat emerald, which he bought at the auction, the portal Israelidiamond.co.il.
The first lady of Zambia, Christine Kaseba (Christine Kaseba), met with Eshed during a series of trades with high-quality emeralds.
The Canadian online retailer Ice.com has entered into negotiations to sell its business to potential buyers, said Shmuel Gniwisch, CEO of the company, to Internet Retailer. Ice.com, which is among the 500 largest online stores in North America, can change owners already in November 2013.
After founding in 1999 and rapid growth, in the last 5 years the company has faced significant difficulties. In 2012, Ice.com sold $ 45 million, 46% less than the company's peak in 2007, when sales exceeded $ 83 million.
"Growth has become difficult due to the state of the US economy, and because large retail players are stepping up activity in the space of electronic commerce, which increases competition, "said Gnuish.
"The pie is not large enough to be enough for everyone to grow up without having to take away a piece from someone,"
After founding in 1999 and rapid growth, in the last 5 years the company has faced significant difficulties. In 2012, Ice.com sold $ 45 million, 46% less than the company's peak in 2007, when sales exceeded $ 83 million.
"Growth has become difficult due to the state of the US economy, and because large retail players are stepping up activity in the space of electronic commerce, which increases competition, "said Gnuish.
"The pie is not large enough to be enough for everyone to grow up without having to take away a piece from someone,"
Designer Nirav Modi, whose necklace under the name Golconda Lotus was sold at Christie's auction for 160 million rupees, plans to open a network of retail stores in India and abroad. The network will have at least 20 outlets and will offer jewelry buyers at more affordable prices.
The Nirv Modi brand, owned by Firestar Diamonds and last year providing sales revenue of $ 250 million (Rs 16 billion), has a significant number of private clients among the richest people. As stated in the statement of Modi: "The company is aimed at opening 5-10 stores in India and the same shops in several major global metropolitan areas - New York, Hong Kong, Dubai and London. There is a huge demand for our jewelry products in international markets, so it's decided to open exclusive stores abroad. "
The company already has a premium lounge in Mumbai, which serves rich customers. Modi says the next outlet will be opened in Delhi in the next few months, and further exclusive boutiques will be opened in Mumbai, Bangalore and Chennai.
The Nirv Modi brand, owned by Firestar Diamonds and last year providing sales revenue of $ 250 million (Rs 16 billion), has a significant number of private clients among the richest people. As stated in the statement of Modi: "The company is aimed at opening 5-10 stores in India and the same shops in several major global metropolitan areas - New York, Hong Kong, Dubai and London. There is a huge demand for our jewelry products in international markets, so it's decided to open exclusive stores abroad. "
The company already has a premium lounge in Mumbai, which serves rich customers. Modi says the next outlet will be opened in Delhi in the next few months, and further exclusive boutiques will be opened in Mumbai, Bangalore and Chennai.
India announced an increase in the import duty on gold and silver jewelry from 10% to 15%. This measure is designed to protect the local industry, and despite this, it will lead to a rise in the cost of jewelry for consumers.
The official statement says: "In order to protect the interests of small jewelers, the customs duty on jewelry consisting of gold or silver or with gold or silver content rises from 10% to 15%."
The government stated that it was necessary to keep the difference in the rates of the import duty on jewelry and primary metals in order to protect the interests of the millions of small artisans who depend on this labor-intensive industry. August 13, India raised the duty on imports of gold to 10%. If the rates of duties are not different, then "there is a fear that Indian jewelry manufacturers will not be able to compete with cheaper imported goods, especially given the fact that India is dominated by handmade jewelry, while imported jewelry - manufactured goods ", The statement says.
The official statement says: "In order to protect the interests of small jewelers, the customs duty on jewelry consisting of gold or silver or with gold or silver content rises from 10% to 15%."
The government stated that it was necessary to keep the difference in the rates of the import duty on jewelry and primary metals in order to protect the interests of the millions of small artisans who depend on this labor-intensive industry. August 13, India raised the duty on imports of gold to 10%. If the rates of duties are not different, then "there is a fear that Indian jewelry manufacturers will not be able to compete with cheaper imported goods, especially given the fact that India is dominated by handmade jewelry, while imported jewelry - manufactured goods ", The statement says.
Forevermark, the diamond brand of the De Beers group of companies, has introduced a new collection in India called Cornerstones, IDEX Online reports.
Each decoration of the new collection includes a diamond solitaire Forevermark, which holds four decorated krapana. As the company said, the four corners in this design symbolize honesty, trust, respect and appreciation, while the central diamond depicts love that relies on these qualities.
The Cornerstones collection will be sold from authorized Forevermark jewelers in a whole range of styles, including rings, pendants and earrings.
Forevermark brand products are selected for diamonds that must have a weight of at least 0.18 carats, a purity of at least Sl2, a color of J and higher, and a high-quality cut. According to De Beers, these criteria are met by less than 1% of diamonds in the world.
The export of polished diamonds to Belgium in August this year rose 35.5% year-on-year to $ 548.1 million, according to data released by the Antwerp World Diamond Center, Rapaport reported. The volume of exports in carats decreased by 1.4%, but the average price per carat increased by 37.5% to $ 2,112.
Imports of polished diamonds for the month increased by 17.7% to $ 895.6 million, while the deficit of net exports was $ 347, 5 million, which is 2.5% better than in August 2012.
Belgian rough imports showed an increase of 28.4% to $ 842.2 million, while exports increased by 15.5% to $ 496.4 million. As a result, net imports of rough diamonds amounted to $ 345.8 million compared to $ 226.2 million a year earlier. In August, the net diamond account was deficit in the amount of $ 693.3 million, which means an increase of almost 26%.
During the first eight months of 2013, polished exports from Belgium rose 3.9% year-on-year to $ 9.011 billion, while imports fell slightly, by 0.4% to $ 8.815 billion. Belgian net exports of polished diamonds were $ 196 million, compared to a deficit of $ $ 174 million for the same period in 2012.
Imports of polished diamonds for the month increased by 17.7% to $ 895.6 million, while the deficit of net exports was $ 347, 5 million, which is 2.5% better than in August 2012.
Belgian rough imports showed an increase of 28.4% to $ 842.2 million, while exports increased by 15.5% to $ 496.4 million. As a result, net imports of rough diamonds amounted to $ 345.8 million compared to $ 226.2 million a year earlier. In August, the net diamond account was deficit in the amount of $ 693.3 million, which means an increase of almost 26%.
During the first eight months of 2013, polished exports from Belgium rose 3.9% year-on-year to $ 9.011 billion, while imports fell slightly, by 0.4% to $ 8.815 billion. Belgian net exports of polished diamonds were $ 196 million, compared to a deficit of $ $ 174 million for the same period in 2012.
Leader in the design and manufacture of watches - the company Movado Group, Inc. was included in the InformationWeek 500 ranking as one of the most innovative users of business technologies in 2013.
"The InformationWeek 500 rating this year is digital business. This is a constant movement that is rooted in data analysis, mobile computing, the use of social networks and the development of other client-oriented technologies that "put the ears" of companies and industries, "said InformationWeek Editor-in-Chief Rob Preston. - Today, every enterprise is already a digital business or should soon become one. The companies in our rating are headed by this movement, "he added.
Movado was selected to be included in the rating thanks to innovative initiatives that are closely tied to its corporate goals to become a more client-oriented company. Global application of integrated systems and adherence to the principles of standardization, integration, globalization and reuse generates valuable business solutions.
"Our company is improving in building objectives, planning, cooperation, teamwork and using analytics. It's a real honor and a joy that Movado is still recognized as one of the most innovative users of new technologies in the country.
"The InformationWeek 500 rating this year is digital business. This is a constant movement that is rooted in data analysis, mobile computing, the use of social networks and the development of other client-oriented technologies that "put the ears" of companies and industries, "said InformationWeek Editor-in-Chief Rob Preston. - Today, every enterprise is already a digital business or should soon become one. The companies in our rating are headed by this movement, "he added.
Movado was selected to be included in the rating thanks to innovative initiatives that are closely tied to its corporate goals to become a more client-oriented company. Global application of integrated systems and adherence to the principles of standardization, integration, globalization and reuse generates valuable business solutions.
"Our company is improving in building objectives, planning, cooperation, teamwork and using analytics. It's a real honor and a joy that Movado is still recognized as one of the most innovative users of new technologies in the country.
At the end of the section of the Hong Kong Jewelery Show at the Asia-World Expo, the reactions of diamantaires were generally contradictory: many small companies said that things were going badly, and according to large companies, sales were at an acceptable level from good, transfers IDEX Online.
The first part of the fair, organized in AsiaWorld-Expo (AWE), near the airport of Hong Kong, began on September 11 and ended on Sunday, September 15. In this section, companies representing diamonds, raw materials for jewelry, equipment and packaging took part. Ready-made jewelry is exhibited on another site - the Hong Kong Convention & Exhibition Center (HKCEC). This section of the fair opened on September 13 and will run until September 17.
"I would not say that there was a sharp rise in business activity, but the exhibition was good," said Yoram Dvash of Dvash Diamonds.
The first part of the fair, organized in AsiaWorld-Expo (AWE), near the airport of Hong Kong, began on September 11 and ended on Sunday, September 15. In this section, companies representing diamonds, raw materials for jewelry, equipment and packaging took part. Ready-made jewelry is exhibited on another site - the Hong Kong Convention & Exhibition Center (HKCEC). This section of the fair opened on September 13 and will run until September 17.
"I would not say that there was a sharp rise in business activity, but the exhibition was good," said Yoram Dvash of Dvash Diamonds.
Imports of diamonds to Hong Kong in the second quarter of 2013 increased by 6% in the year to $ 4.398 billion, reports Rapaport. According to data published by the Diamond Federation of Hong Kong, polished exports increased 3% to $ 2.841 billion during the same period. Net imports of diamonds (the difference between imports and exports) increased 13% to $ 1.557 billion.
Imports of rough diamonds in Hong Kong in the reporting period fell by 12% to $ 491.48 million, and exports of diamonds rose 29% to $ 692.61 million. Net imports of diamonds decreased from $ 26.18 million last year to a negative value of $ 201.12 million for reporting quarter.
The net diamond account of Hong Kong for the second quarter (the difference between total imports and total exports of diamonds and diamonds) fell 4% to $ 1.355 billion.
In the first six months of 2013, polished imports to Hong Kong rose 5% to $ 8.884 billion, the organization said. Imports of diamonds from India increased by 17% to $ 4.21 billion, but imports from other major supplier countries declined. Imports from Israel declined 2% to $ 1.14 billion, while from Belgium - by 4% to $ 948.7 million, from China - by 6% to $ 522.4 million.
Exports of diamonds from Hong Kong for the half-year decreased by 4% to $ 5,803 billion.
At the same time, exports to India fell by 10% to $ 1.53 billion, and to China - by 9% to $ 911.6 million. Exports to Belgium grew by 1% to $ 826.9 million, and to Israel - by 6% up to $ 696.5 million.
Imports of rough diamonds in Hong Kong in the reporting period fell by 12% to $ 491.48 million, and exports of diamonds rose 29% to $ 692.61 million. Net imports of diamonds decreased from $ 26.18 million last year to a negative value of $ 201.12 million for reporting quarter.
The net diamond account of Hong Kong for the second quarter (the difference between total imports and total exports of diamonds and diamonds) fell 4% to $ 1.355 billion.
In the first six months of 2013, polished imports to Hong Kong rose 5% to $ 8.884 billion, the organization said. Imports of diamonds from India increased by 17% to $ 4.21 billion, but imports from other major supplier countries declined. Imports from Israel declined 2% to $ 1.14 billion, while from Belgium - by 4% to $ 948.7 million, from China - by 6% to $ 522.4 million.
Exports of diamonds from Hong Kong for the half-year decreased by 4% to $ 5,803 billion.
At the same time, exports to India fell by 10% to $ 1.53 billion, and to China - by 9% to $ 911.6 million. Exports to Belgium grew by 1% to $ 826.9 million, and to Israel - by 6% up to $ 696.5 million.
Diamond business experts are watching a repeat, and perhaps even worse scenario, of the 2008 situation on the Indian diamond market, as the diamond cutting and polishing sector in Surat faced a severe financial crisis due to the fall of the rupee exchange rate.
According to media reports, diamond producers are pressuring traders, demanding that they return the debt, forcing some of them to go to the market.
Obviously, diamond traders adhere to the payment of revenue, because they have to pay in dollars, and taking into account the exchange rate difference, they are in danger of incurring losses.
According to media reports, diamond producers are pressuring traders, demanding that they return the debt, forcing some of them to go to the market.
Obviously, diamond traders adhere to the payment of revenue, because they have to pay in dollars, and taking into account the exchange rate difference, they are in danger of incurring losses.
One of the leading Indian jewelry companies Rajesh Exports Ltd. opened its 83rd jewelry salon under the retail brand Shubh Jewellers in the Indian state of Karnataka. The new outlet is located in a place called Tarikere, reports Diamond World portal.
The expansion of the chain of jewelry stores Shubh Jewellers testifies to the growing power and the increasing influence of the brand in this state. In the future, Rajesh plans to open another 42 Shubh Jewellers in Karnataka, and then focus on expanding its presence in states such as Andhra Pradesh, Tamil Nadu and Kerala.
The expansion of the chain of jewelry stores Shubh Jewellers testifies to the growing power and the increasing influence of the brand in this state. In the future, Rajesh plans to open another 42 Shubh Jewellers in Karnataka, and then focus on expanding its presence in states such as Andhra Pradesh, Tamil Nadu and Kerala.
Swatch Group Ltd. announced the opening of boutiques of the Tourbillon brand in Seattle, Washington, Dallas, Texas, and Las Vegas, Nevada, reports Rapaport.
The new Tourbillon store in Seattle is located at the Fairmont Olympic Hotel, one of the city's most famous historic buildings. In the same building is a service center Swatch Group.
In Dallas, the Tourbillon boutique will open in October, before the start of the Christmas season, and will be located in the center of NorthPark.
Together with these new outlets, the Swatch Group moved the Tourbillon boutique in Las Vegas to the Crystals center, expanding its area, so it became the largest brand store in the world.
Tourbillon boutiques in the US offer buyers collections from the brands Breguet, Blancpain, Glashutte Original, Jaquet Droz and Omega, as well as a series of exclusive watches and jewelry from the Swatch brand.
The new Tourbillon store in Seattle is located at the Fairmont Olympic Hotel, one of the city's most famous historic buildings. In the same building is a service center Swatch Group.
In Dallas, the Tourbillon boutique will open in October, before the start of the Christmas season, and will be located in the center of NorthPark.
Together with these new outlets, the Swatch Group moved the Tourbillon boutique in Las Vegas to the Crystals center, expanding its area, so it became the largest brand store in the world.
Tourbillon boutiques in the US offer buyers collections from the brands Breguet, Blancpain, Glashutte Original, Jaquet Droz and Omega, as well as a series of exclusive watches and jewelry from the Swatch brand.
The next month in Hong Kong will be auctioned, which will be exposed to the world's largest white diamond.
The brilliant oval cut has a weight of 118.28 carats, it is made of a diamond weighing 299 carats, mined two years ago in South Africa.
Pre-auction valuation of the unique precious stone, according to the CBC, is between $ 28 million and $ 35 million. The
Sotheby's auction house in New York reports that this stone is the world's largest white diamond.
Deputy chairman and head of jewelry at Sotheby's in Asia, Quek Chin Yeow, an international diamond expert, said that large diamonds are being traded in Hong Kong, as he became the largest jewelry sales center.
The brilliant oval cut has a weight of 118.28 carats, it is made of a diamond weighing 299 carats, mined two years ago in South Africa.
Pre-auction valuation of the unique precious stone, according to the CBC, is between $ 28 million and $ 35 million. The
Sotheby's auction house in New York reports that this stone is the world's largest white diamond.
Deputy chairman and head of jewelry at Sotheby's in Asia, Quek Chin Yeow, an international diamond expert, said that large diamonds are being traded in Hong Kong, as he became the largest jewelry sales center.
UBM Rotaforte said that over 600 exhibitors will take part in the Istanbul Jewelery Fair, which will be held from 3 to 6 October in three halls of the Istanbul Fair Center (Istanbul Fair Center), Rapaport reports. The organizers of the four-day event reserved a total area of 30,000 square meters. m, to provide enough space for exhibitors, visitors and buyers from 25 countries.
This year it is planned to create international pavilions of Hong Kong, Italy and Thailand; special programs have been developed to organize visits of delegations from Bahrain, Croatia, Czech Republic, Germany, Iran, Iraq, Israel, Jordan, Kazakhstan, Kuwait, Lebanon, Lithuania, Morocco, Poland, Qatar, Russia, Saudi Arabia, Tunisia, Ukraine and the UAE.
This year it is planned to create international pavilions of Hong Kong, Italy and Thailand; special programs have been developed to organize visits of delegations from Bahrain, Croatia, Czech Republic, Germany, Iran, Iraq, Israel, Jordan, Kazakhstan, Kuwait, Lebanon, Lithuania, Morocco, Poland, Qatar, Russia, Saudi Arabia, Tunisia, Ukraine and the UAE.
According to some reports, the Italian company Bulgari, specializing in the sale of luxury goods, appealed to the Indian government for permission to open several branded retail stores in India. The company intends to sell in India jewelry, watches and accessories of the highest price category under the brand Bvlgari.
Local media reported that Bulgari, a division of the French LVMH group, applied to the Foreign Investment Promotion Board (FIPB) for investing in a monobrand business. Although the details of Bulgari's proposal have not been disclosed, the company will act as a passive shareholder. Other brands belonging to the LVMH group, including Louis Vuitton and Christian Dior, also independently entered the Indian market.
Although FIPB approval has not yet been received, the Italian firm has already selected a place to host its store in the DLF Emporio shopping center in the south of Delhi, which unites many well-known brands of luxury goods under its roof.
Local media reported that Bulgari, a division of the French LVMH group, applied to the Foreign Investment Promotion Board (FIPB) for investing in a monobrand business. Although the details of Bulgari's proposal have not been disclosed, the company will act as a passive shareholder. Other brands belonging to the LVMH group, including Louis Vuitton and Christian Dior, also independently entered the Indian market.
Although FIPB approval has not yet been received, the Italian firm has already selected a place to host its store in the DLF Emporio shopping center in the south of Delhi, which unites many well-known brands of luxury goods under its roof.
As the growing popularity of the Hong Kong International Jewelery Show (HKTDC Hong Kong International Jewelery Show) and Hong Kong in the global jewelery and jewelry industry, the organizers of the trade event are working to provide sufficient space for expansion and development, and further strengthening the role of Hong Kong as a shopping center jewelry industry, the portal Diamond World.
Since March 2014, the Hong Kong Fair will be divided into two major events that will take place in two separate venues: the Hong Kong International Jewelery Fair HKTDC and the Hong Kong International Fair of Diamonds, Gemstones and Pearls HKTDC.
The final jewelry will be exhibited at the jewelry fair in the Hong Kong Exhibition Center from March 5 to 9, 2014, and the Hong Kong International Fair of Diamonds, Gemstones and Pearls will be held from 3 to 7 March 2014 at the AsiaWorld Expo Center and will specialize in unrestricted precious stones and raw materials.
Since March 2014, the Hong Kong Fair will be divided into two major events that will take place in two separate venues: the Hong Kong International Jewelery Fair HKTDC and the Hong Kong International Fair of Diamonds, Gemstones and Pearls HKTDC.
The final jewelry will be exhibited at the jewelry fair in the Hong Kong Exhibition Center from March 5 to 9, 2014, and the Hong Kong International Fair of Diamonds, Gemstones and Pearls will be held from 3 to 7 March 2014 at the AsiaWorld Expo Center and will specialize in unrestricted precious stones and raw materials.
The company Gitanjali Gems, which receives more than 40% of sales revenue in foreign markets, has decided to strengthen its influence in the Persian Gulf region. The company is already represented in the world's leading markets, such as the US, Japan, China and the UAE.
Gitanjali Gems intends to expand its presence in the market of the Persian Gulf and plans to open seven new stores in Dubai within the next 7-8 months. Currently, the company owns retail outlets in the store-in-shop format located on the Paris Gallery brand retail space. At the next stage, Gitanjali wants to settle in other markets within the UAE, focusing on Abu Dhabi and other emirates. As part of this strategy, the company plans to promote diamonds. Expanding its presence in Dubai, Gitanjali will open 7 new stores, hiring about 40 employees.
Gitanjali Gems intends to expand its presence in the market of the Persian Gulf and plans to open seven new stores in Dubai within the next 7-8 months. Currently, the company owns retail outlets in the store-in-shop format located on the Paris Gallery brand retail space. At the next stage, Gitanjali wants to settle in other markets within the UAE, focusing on Abu Dhabi and other emirates. As part of this strategy, the company plans to promote diamonds. Expanding its presence in Dubai, Gitanjali will open 7 new stores, hiring about 40 employees.
White Pine Trading LLC, which specializes in selling reusable diamonds, recently announced the creation of a new division, White Pine Jewelry Solutions, which will provide consulting and other services to retailers, manufacturers and jewelry wholesalers.
Michael Lebowitz, a veteran of the jewelry industry, will head a new unit that will also design and manufacture frames for used diamonds that are sold by White Pine Trading, according to a press release received by Rough & Polished.
"White Pine Jewelry Solutions will combine our experience and understanding of the used diamond market with Michael's impressive experience in retail and wholesale jewelry, jewelry production and asset valuation," said White Pine CEO Benjamin Burne. "Thanks to this, we will create a powerful platform, working for the benefit of companies that want to strengthen their business."
Michael Lebowitz, a veteran of the jewelry industry, will head a new unit that will also design and manufacture frames for used diamonds that are sold by White Pine Trading, according to a press release received by Rough & Polished.
"White Pine Jewelry Solutions will combine our experience and understanding of the used diamond market with Michael's impressive experience in retail and wholesale jewelry, jewelry production and asset valuation," said White Pine CEO Benjamin Burne. "Thanks to this, we will create a powerful platform, working for the benefit of companies that want to strengthen their business."
Four Indian companies - Dharmanandan Diamonds Private Limited, JB and Brothers Private Limited, Kiran Gems Private Limited and Shree Ramkrishna Exports Private Limited - were selected as finalists of the JNA awards in the nomination "Manufacturer of the Year - Cutting and Polishing Diamonds". The awarding ceremony and gala dinner will be held at the Grand Hyatt Hotel in Hong Kong on September 12 this year.
The JNA Award aims to promote and recognize the achievements in the world jewelry trade, focusing on the Asian region. The jury consists of five recognized experts of the jewelry industry
The JNA Award aims to promote and recognize the achievements in the world jewelry trade, focusing on the Asian region. The jury consists of five recognized experts of the jewelry industry
American polished imports in July 2013 grew by 21.9% year-on-year to $ 2,129 billion, while imports increased by 6.6% to 1.07 million carats by volume, Rapaport reports. The polished exports rose 18.2% to $ 1.453 billion, as a result of net imports of $ 677 million, an increase from $ 517 million a year earlier.
Imports of diamonds jumped 83% to $ 86 million in the reporting month, while diamond exports fell 19% to $ 17 million, and as a result, net imports were $ 69 million, almost three times more than in July 2012, and is the highest since June 2008.
The net US diamond account for July (the difference between aggregate imports and total exports) increased by an annualized rate of 37.4% to $ 746 million.
Imports of diamonds jumped 83% to $ 86 million in the reporting month, while diamond exports fell 19% to $ 17 million, and as a result, net imports were $ 69 million, almost three times more than in July 2012, and is the highest since June 2008.
The net US diamond account for July (the difference between aggregate imports and total exports) increased by an annualized rate of 37.4% to $ 746 million.
prices for certified diamonds stabilized, while dealers were cautious and trade turnover was small, Rapaport reported.
Liquidity in the centers of cut remains under pressure due to the devaluation of the Indian rupee, high prices for rough diamonds and limited bank lending. Diamonds producers maintain fairly large inventories ahead of the sales season in the fourth quarter, and retail jewelry companies are expected to make purchases later this year.
The price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat in August fell by 0.1%. RAPI for diamonds weighing 0.30 carats increased by 1.2%, and for diamonds weighing 0.50 carats - increased by 0.8%. RAPI for diamonds weighing 3 carats over the past month fell by 0.6%.
The price index for diamonds decreased compared to early 2013, as in June and July polished prices fell. There is a steady demand for diamonds of lower price categories. The greatest demand is for stones weighing 0.3-0.4 carats and purity VS-SI. The RAPI index for diamonds weighing 0.30 carats rose from January to August by 4.8% due to a steady demand for these products in the US and China.
As the recent September Rapaport report called "Liquidity Crunch" says, the weakened position of the rupee continues to put pressure on the world trade in diamonds. It is assumed that Indian diamantaires will lower prices at the September fair in Hong Kong, trying to secure an inflow of funds.
Liquidity in the centers of cut remains under pressure due to the devaluation of the Indian rupee, high prices for rough diamonds and limited bank lending. Diamonds producers maintain fairly large inventories ahead of the sales season in the fourth quarter, and retail jewelry companies are expected to make purchases later this year.
The price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat in August fell by 0.1%. RAPI for diamonds weighing 0.30 carats increased by 1.2%, and for diamonds weighing 0.50 carats - increased by 0.8%. RAPI for diamonds weighing 3 carats over the past month fell by 0.6%.
The price index for diamonds decreased compared to early 2013, as in June and July polished prices fell. There is a steady demand for diamonds of lower price categories. The greatest demand is for stones weighing 0.3-0.4 carats and purity VS-SI. The RAPI index for diamonds weighing 0.30 carats rose from January to August by 4.8% due to a steady demand for these products in the US and China.
As the recent September Rapaport report called "Liquidity Crunch" says, the weakened position of the rupee continues to put pressure on the world trade in diamonds. It is assumed that Indian diamantaires will lower prices at the September fair in Hong Kong, trying to secure an inflow of funds.
The De Beers group of companies acquired a 25% stake in Curtis Fitch, which provides services in the field of online auctions.
The diamond giant said that these investments are intended to expand the successful partnership of both companies.
De Beers sells about 10% of the mined diamonds through auctions. The company held its debut online auction with the support of Curtis Fitch in 2008.
"De Beers' leading position in online diamond auctions is based on our ability to understand the needs of our international customers and provide them with opportunities to supply raw materials that always meet their unique and changing needs," said De Beers vice president of auction sales Neil Ventura (Neil Ventura).
The diamond giant said that these investments are intended to expand the successful partnership of both companies.
De Beers sells about 10% of the mined diamonds through auctions. The company held its debut online auction with the support of Curtis Fitch in 2008.
"De Beers' leading position in online diamond auctions is based on our ability to understand the needs of our international customers and provide them with opportunities to supply raw materials that always meet their unique and changing needs," said De Beers vice president of auction sales Neil Ventura (Neil Ventura).
The American and International Diamond Week, held last week in Israel, was certainly a successful event, but the real results will be visible after a while - within the next weeks or months, as some leaders the closing day of the conference, reports Israelidiamond.co.il.
Excellent opportunities for expanding ties and cooperation on the site of the Israeli Diamond Exchange in Ramat Gan will bear fruit at the Hong Kong Jewelry Fair, which will be held this month, and will also be visible during the winter holiday season.
The diamond week, held for four days, included a whole series of events that ensured good sales and satisfaction of all participants. In addition to the opportunity to establish new personal contacts in the diamond exchange hall, visitors could take part in Tzoffey's auction, where the founder of the auction house Avner Sofiov presented expensive and exclusive diamonds and other precious stones. Special morning meetings "at breakfast" were organized with the participation of large trade delegations.
Excellent opportunities for expanding ties and cooperation on the site of the Israeli Diamond Exchange in Ramat Gan will bear fruit at the Hong Kong Jewelry Fair, which will be held this month, and will also be visible during the winter holiday season.
The diamond week, held for four days, included a whole series of events that ensured good sales and satisfaction of all participants. In addition to the opportunity to establish new personal contacts in the diamond exchange hall, visitors could take part in Tzoffey's auction, where the founder of the auction house Avner Sofiov presented expensive and exclusive diamonds and other precious stones. Special morning meetings "at breakfast" were organized with the participation of large trade delegations.
American and international diamond week in Israel, diamantaires everywhere announced their very positive sentiments and their successes in the Israeli Diamond Exchange (IDE). Given the multinational composition of participants, these sentiments will spread around the world.
A wide range of participants in the diamond week, among which Israeli and American diamond producers, regular customers and new customers, leaders of the diamond industry and experts, testifies to the high potential of the event in the context of expanding ties and interaction. This event will ensure the advancement of Israeli diamantaires on the eve of the September jewelry fair in Hong Kong, as well as the upcoming holiday season in Asia and the Western countries.
Tiffany & Co. continues to adhere to high standards of sustainability, responsibility and best business practices, as follows from the recently released annual report on corporate social responsibility for 2012, Rapaport reports.
Tiffany said that last year it continued to have a positive impact on the jewelry supply chain, working to promote responsible production standards and raise awareness of critical issues such as, for example, protecting the environment in the area adjacent to the upcoming the Pebble mine in Alaska.
During the past year, Tiffany & Co. carried out the purchase of diamonds, precious stones and metals from mines that meet high standards of social and environmental responsibility.
Tiffany & Co. produces about 60% of its jewelry production at its own enterprises. In 2012, Tiffany tracked 98% of the purchases of precious metals by Tiffany businesses directly from reliable miners or manufacturing companies.
Tiffany & Co. tracked all rough diamonds bought in 2012 both directly from well-known mining companies and reliable suppliers that purchase diamonds mined in countries that meet the requirements and standards of the Kimberley Process.
Over the past few years, Tiffany & Co. she herself financed the diamond mines to guarantee her access to high-quality diamonds in accordance with all accepted requirements for accountability and transparency.
Tiffany said that last year it continued to have a positive impact on the jewelry supply chain, working to promote responsible production standards and raise awareness of critical issues such as, for example, protecting the environment in the area adjacent to the upcoming the Pebble mine in Alaska.
During the past year, Tiffany & Co. carried out the purchase of diamonds, precious stones and metals from mines that meet high standards of social and environmental responsibility.
Tiffany & Co. produces about 60% of its jewelry production at its own enterprises. In 2012, Tiffany tracked 98% of the purchases of precious metals by Tiffany businesses directly from reliable miners or manufacturing companies.
Tiffany & Co. tracked all rough diamonds bought in 2012 both directly from well-known mining companies and reliable suppliers that purchase diamonds mined in countries that meet the requirements and standards of the Kimberley Process.
Over the past few years, Tiffany & Co. she herself financed the diamond mines to guarantee her access to high-quality diamonds in accordance with all accepted requirements for accountability and transparency.
Conducting advertising campaigns in traditional media is still considered the best way to attract wealthy consumers of generation X and consumer groups born to the 1940s and 1960s, and advertising in magazines is best perceived by these population groups. Meanwhile, the Shullman Research Center found that 82% of consumers from the generation of the 2000s are more interested in advertising distributed through mobile devices, and 81% of consumers are attracted to advertising in cinemas, Rapaport reports. Only 60% of respondents expressed an inclination to advertise in magazines.
As the report "Differences between Generations of Consumers of Luxury Goods Using Media Platforms" says, advertising in magazines is considered the most effective for consumers of generation X, then in the ranking follows advertising in shopping centers and on television. Newspapers and television have the greatest impact on the "baby boomers" generation, who also prefer magazines.
"If you are a luxury brand, you need to understand which audience you want to attract to decide on the platform that will be chosen for advertising," said Bob Shullman, founder and CEO of the New York Research Center York.
The survey was conducted online from February 26 to March 6 this year among 5 groups of adult American consumers.
In another study of the center of Shulman, a rating of the leading jewelry and watch brands of luxury class was compiled for consumers with income of more than $ 250,000 per year, which is headed by Tiffany. The rating also mentions the Rolex and Cartier brands.
As the report "Differences between Generations of Consumers of Luxury Goods Using Media Platforms" says, advertising in magazines is considered the most effective for consumers of generation X, then in the ranking follows advertising in shopping centers and on television. Newspapers and television have the greatest impact on the "baby boomers" generation, who also prefer magazines.
"If you are a luxury brand, you need to understand which audience you want to attract to decide on the platform that will be chosen for advertising," said Bob Shullman, founder and CEO of the New York Research Center York.
The survey was conducted online from February 26 to March 6 this year among 5 groups of adult American consumers.
In another study of the center of Shulman, a rating of the leading jewelry and watch brands of luxury class was compiled for consumers with income of more than $ 250,000 per year, which is headed by Tiffany. The rating also mentions the Rolex and Cartier brands.
the second day of the American and International Diamond Week (US & International Diamond Week), a vibrant atmosphere reigned in the diamond exchange hall. Both diamantaires representing diamond products and buyers gave positive feedback on the event and reported on the transactions made, the press release received by Rough & Polished says. By noon, the building of the Israeli Diamond Exchange (IDE) gathered about 600 customers who came from 22 countries, creating a revival in the trading floor.
Rony Ethani from Regent Diamonds said that such events not only provide an opportunity to recall the long-standing tradition at the time when the trading floor of the exchange was the center of diamond and diamond trade, but also show what changes can be achieved. "If these fairs are held on a regular basis, it is possible to create new initiatives on business development on their basis,"
Rony Ethani from Regent Diamonds said that such events not only provide an opportunity to recall the long-standing tradition at the time when the trading floor of the exchange was the center of diamond and diamond trade, but also show what changes can be achieved. "If these fairs are held on a regular basis, it is possible to create new initiatives on business development on their basis,"
Sunday, April 29, 2018
The recent auction of jewelry, organized by the auction house Bonhams in New York, collected revenue of about $ 6.3 million, while 85% of the lots were sold. The most expensive lot at the end of the auction was a ring with diamonds and Kashmir sapphire oval-cut 5.85 carats, which went under the hammer for $ 461,000, Rapaport reports. According to the auction house, for this lot was actively fighting participants over the phone, and its final price more than four times the pre-auction estimate.
Among the leading lots, a light pink pear-shaped cut diamond weighing 8.06 carats, sold for $ 389,000, as well as a ring of 18-carat gold and 8.45-carat platinum, sold for $ 293,000 (three times the pre-auction estimate) .
Susan Abeles, head of jewelry at Bonhams in the US, said: "We are very pleased with the results of the trades on October 17, which demonstrated the high interest of market participants in sapphires of various origins."
The Chow Tai Fook group reported an increase in revenue of 35% on a year-on-year basis for the second fiscal quarter ended Sept. 30. The revenue growth was ensured by the sale of gold jewelry, as well as by the expansion of the group's wholesale business. Revenues in mainland China showed an increase of 33%, and sales revenues in Hong Kong and Macau jumped 38% in the reporting quarter, Rapaport reports.
Sales in comparable stores of the group for the 2 nd quarter increased by 18% compared to the same period last year. At the same time, sales in China jumped by 32%, while sales in Hong Kong and Macau - by 26%
Chow Tai Fook reported that the increase in sales in comparable stores in the category of jewelry with precious stones was 4%, and the growth of gold jewelry was 33%. According to the group, the main increase was in luxury jewelry intended for the mass consumer, and it is expected that this segment will be the determining driver of further sales growth.
Sales in comparable stores of the group for the 2 nd quarter increased by 18% compared to the same period last year. At the same time, sales in China jumped by 32%, while sales in Hong Kong and Macau - by 26%
Chow Tai Fook reported that the increase in sales in comparable stores in the category of jewelry with precious stones was 4%, and the growth of gold jewelry was 33%. According to the group, the main increase was in luxury jewelry intended for the mass consumer, and it is expected that this segment will be the determining driver of further sales growth.
Demand for diamond jewelry, traditionally growing by the beginning of the celebration of Navratri, this year remained weak in a number of Indian regions.
The decline in prices for rough diamonds by about 5% did not bring relief to participants in the Indian trading sector, as consumers abstain from buying. Diamond traders continue negotiations with suppliers of raw materials about further price cuts. Now the entire diamond industry is betting on the Diwali holiday, hoping that sales of diamond jewelry will rise, bringing this sector back to life.
Nevertheless, the decline in diamond prices made traders happy, as export markets show signs of recovery. In the US and Europe, there is an increase in demand. Diamantaires are pleased with the drop in prices for raw materials and expect that next month prices will drop by another 3%, as the extremely low activity in the market forces suppliers to drop prices. At present, Indian demand for diamonds is much lower than the usual figures for this season. In addition, the liquidity crisis in the domestic market caused a decline in sales of diamonds.
According to some reports, diamonds are in second place in terms of popularity growth as a discretionary purchase after mobile phones, but this year, despite the holiday season, demand has not increased.
Many retailers remain hopeful of growing demand in the coming weeks. Participants in Indian trade are negotiating with suppliers of rough diamonds to be able to reduce prices for their products for the wedding season and holidays.
The decline in prices for rough diamonds by about 5% did not bring relief to participants in the Indian trading sector, as consumers abstain from buying. Diamond traders continue negotiations with suppliers of raw materials about further price cuts. Now the entire diamond industry is betting on the Diwali holiday, hoping that sales of diamond jewelry will rise, bringing this sector back to life.
Nevertheless, the decline in diamond prices made traders happy, as export markets show signs of recovery. In the US and Europe, there is an increase in demand. Diamantaires are pleased with the drop in prices for raw materials and expect that next month prices will drop by another 3%, as the extremely low activity in the market forces suppliers to drop prices. At present, Indian demand for diamonds is much lower than the usual figures for this season. In addition, the liquidity crisis in the domestic market caused a decline in sales of diamonds.
According to some reports, diamonds are in second place in terms of popularity growth as a discretionary purchase after mobile phones, but this year, despite the holiday season, demand has not increased.
Many retailers remain hopeful of growing demand in the coming weeks. Participants in Indian trade are negotiating with suppliers of rough diamonds to be able to reduce prices for their products for the wedding season and holidays.
the export of watches from Switzerland grew by 8.5% on a year-on-year basis, to $ 2.1 billion (1.9 billion Swiss francs), Rapaport reported citing data from the Federation of the Swiss Watch Industry ).
The increase in the total export of watches in value terms was affected by the increase in the export of watches made of steel, platinum and gold for the reporting month, as well as an additional working day in September.
The export of watches grew by 8.3% in September to $ 1.982 billion (1.79 billion Swiss francs), while by the number of products, exports fell by 4.3% to 2.54 million units.
The Federation explained that in the largest export markets for Swiss watches - in Hong Kong USA - there were signs of a recovery in sales.
In particular, exports of Swiss watch products to Hong Kong rose by 10% in September to $ 406.2 million (366.9 million Swiss francs), while exports to the US jumped 17% to $ 229.5 million (207.3 million Swiss francs). Swiss watch exports to China fell by 3% to $ 139.8 million.
The increase in the total export of watches in value terms was affected by the increase in the export of watches made of steel, platinum and gold for the reporting month, as well as an additional working day in September.
The export of watches grew by 8.3% in September to $ 1.982 billion (1.79 billion Swiss francs), while by the number of products, exports fell by 4.3% to 2.54 million units.
The Federation explained that in the largest export markets for Swiss watches - in Hong Kong USA - there were signs of a recovery in sales.
In particular, exports of Swiss watch products to Hong Kong rose by 10% in September to $ 406.2 million (366.9 million Swiss francs), while exports to the US jumped 17% to $ 229.5 million (207.3 million Swiss francs). Swiss watch exports to China fell by 3% to $ 139.8 million.
Pure Gold Jewelers reported an increase in sales of gold jewelry by 20% during the Eid Al Adha festival, Rapaport reports. The company did not disclose accurate sales figures.
Pure Gold Jewelers Chairman Firoz Merchant (Firoz Merchant) said: "We have seen an increase in gold jewelry sales during the holiday season. Meanwhile, sales of diamond products remained at last year's level. Among our buyers were both local residents and tourists, mainly from Saudi Arabia. "
During the Eid Al Adha celebration, Pure Gold Jewelers offered a 70 percent discount to the Pure Diamonds line of jewelry and gave a chance to win a certified diamond solitaire when buying gold or diamond jewelry.
Merchant added that the retailer is currently preparing for the excitement expected during the Indian festivals Diwali and Dunteras, which are a suitable occasion for the purchase of jewelry.
Pure Gold Jewelers Chairman Firoz Merchant (Firoz Merchant) said: "We have seen an increase in gold jewelry sales during the holiday season. Meanwhile, sales of diamond products remained at last year's level. Among our buyers were both local residents and tourists, mainly from Saudi Arabia. "
During the Eid Al Adha celebration, Pure Gold Jewelers offered a 70 percent discount to the Pure Diamonds line of jewelry and gave a chance to win a certified diamond solitaire when buying gold or diamond jewelry.
Merchant added that the retailer is currently preparing for the excitement expected during the Indian festivals Diwali and Dunteras, which are a suitable occasion for the purchase of jewelry.
Exports of polished diamonds from India in September 2013 showed an 11% increase year-on-year and reached $ 1.684 billion, according to preliminary figures from the Gem & Jewelery Export Promotion Council (GJEPC). By volume, exports decreased by 1% to 3.023 million carats, Rapaport reports.
Indian diamond imports in the month increased more than double to $ 606 million. Net diamond exports from India fell 13% to $ 1.078 billion.
Imports of rough diamonds to India declined 6% in September to $ 1.282 billion, while rough diamond exports fell by 22% to $ 124 million. Net imports of diamonds, fell by 4% to $ 1.158 billion.
Indian diamond imports in the month increased more than double to $ 606 million. Net diamond exports from India fell 13% to $ 1.078 billion.
Imports of rough diamonds to India declined 6% in September to $ 1.282 billion, while rough diamond exports fell by 22% to $ 124 million. Net imports of diamonds, fell by 4% to $ 1.158 billion.
Indian company Malabar Gold & Diamonds, the largest jewelry retailer in India and the Persian Gulf countries, plans to open the first retail outlet in Singapore. The opening ceremony will be held on October 23 with the participation of the Ambassador of the Suria brand (Superstar Suriya). The group announced a special offer, which is valid until November 2013 - customers who have made a purchase for more than $ 1,000 receive a gold medal as a gift.
It was quite natural that men spend more money to buy new fashion watches than women buy jewelry. This is confirmed by the recently announced rating of "Top Vintage Watches of the Week", published on the information portal Chronollection.com.
Chronographs, automatic, steel and ceramic watches, products in gold, titanium, women's and men's watches are analyzed weekly and ranked in order of priority and popularity among wealthy buyers around the world.
So, the rating of the best vintage watches in early October was led by the Daytona watch from the Rolex company - a classic chronograph made of steel, worth $ 32,758.
According to experts, the watch list from Ebel (female model Beluga, white gold, diamonds worth $ 11,775), Chanel (model J12, unisex, in a ceramic case with a sapphire crystal, worth $ 5,820) was included in the list of the most popular luxury watches, , Omega (model Seamaster, steel, cost $ 1,900), Roman Jerome (model DNA, titanium, cost $ 5,680), Hublot (model King Power, ceramics, value $ 16,805), Bell & Ross (model BR01, steel, cost $ 5,862) , Breatling (Navitimer model, steel, $ 4,995), Rolex (model Submarine, steel, priced at $ 7,686 and model GMT, steel, priced at $ 6,383).
Chronographs, automatic, steel and ceramic watches, products in gold, titanium, women's and men's watches are analyzed weekly and ranked in order of priority and popularity among wealthy buyers around the world.
So, the rating of the best vintage watches in early October was led by the Daytona watch from the Rolex company - a classic chronograph made of steel, worth $ 32,758.
According to experts, the watch list from Ebel (female model Beluga, white gold, diamonds worth $ 11,775), Chanel (model J12, unisex, in a ceramic case with a sapphire crystal, worth $ 5,820) was included in the list of the most popular luxury watches, , Omega (model Seamaster, steel, cost $ 1,900), Roman Jerome (model DNA, titanium, cost $ 5,680), Hublot (model King Power, ceramics, value $ 16,805), Bell & Ross (model BR01, steel, cost $ 5,862) , Breatling (Navitimer model, steel, $ 4,995), Rolex (model Submarine, steel, priced at $ 7,686 and model GMT, steel, priced at $ 6,383).
Ghanasingh BE TRUE - one of the leading Indian jewelery retailers - celebrates its 108th anniversary and presents a new jewelery collection called El Clásico ', timed for the Diwali holiday. The design of the new collection is designed in a style that is beyond the control of fashion and time.
Gautam Ghanasingh, creative producer of the Ghanasingh Be True collection, says: "We see a tendency for people to buy jewelry during the celebration of Diwali, because it is believed that it brings wealth and prosperity. We want our clients to invest money wisely. Therefore, our solution is the development of the collection for a long-term perspective - the products remain valuable and do not go out of fashion. What could be better than investing in classics? The El Clásico collection became the logical conclusion of our development. Hardly a woman with good taste can get bored with this collection. "
The main leitmotif of the collection was the combination of elegance in traditional and modern jewelry. An eclectic collection of bright earrings, rings and necklaces is perfectly combined with pearls, precious stones, unbound diamonds, which contribute an element of modernity. In the design of the new collection there is also a tendency towards a young audience - diamonds and non-traditional colored gems such as tourmaline, rubies, emeralds and sapphires are present in the adornments. Some products are made with the use of gold ornament and invisible bracing technique.
Gautam Ghanasingh, creative producer of the Ghanasingh Be True collection, says: "We see a tendency for people to buy jewelry during the celebration of Diwali, because it is believed that it brings wealth and prosperity. We want our clients to invest money wisely. Therefore, our solution is the development of the collection for a long-term perspective - the products remain valuable and do not go out of fashion. What could be better than investing in classics? The El Clásico collection became the logical conclusion of our development. Hardly a woman with good taste can get bored with this collection. "
The main leitmotif of the collection was the combination of elegance in traditional and modern jewelry. An eclectic collection of bright earrings, rings and necklaces is perfectly combined with pearls, precious stones, unbound diamonds, which contribute an element of modernity. In the design of the new collection there is also a tendency towards a young audience - diamonds and non-traditional colored gems such as tourmaline, rubies, emeralds and sapphires are present in the adornments. Some products are made with the use of gold ornament and invisible bracing technique.
The LVMH group reported an increase of 1.7% on a year-on-year basis to $ 9.5 billion in the third quarter ended September 30, Rapaport reported. Meanwhile, domestic growth, reflecting the dynamics of sales in comparable stores based on the constant exchange rate, was 8% compared with the same period last year.
The jewelery and watches division registered a decrease in revenues of 1.9% to $ 914 million for the reporting quarter, which shows a decline for the third quarter in a row.
The sales of fashion, leather, perfume and cosmetics divisions also showed a slight drop of several percent in the third quarter.
Without highlighting the results of the third quarter, LVMH explained that the internal growth of jewelry and watches division in the first 9 months of 2013 was 3%. However, total revenue fell 2% year-on-year to $ 2.68 billion. The
results of business expansion in companies belonging to the department of jewelery and watches managed by LVMH "remain excellent." The company's message says about the successful launch of a new jewelery line by the brand Bulgari. In the reporting quarter, the new watch factory TAG Heuer was launched.
The jewelery and watches division registered a decrease in revenues of 1.9% to $ 914 million for the reporting quarter, which shows a decline for the third quarter in a row.
The sales of fashion, leather, perfume and cosmetics divisions also showed a slight drop of several percent in the third quarter.
Without highlighting the results of the third quarter, LVMH explained that the internal growth of jewelry and watches division in the first 9 months of 2013 was 3%. However, total revenue fell 2% year-on-year to $ 2.68 billion. The
results of business expansion in companies belonging to the department of jewelery and watches managed by LVMH "remain excellent." The company's message says about the successful launch of a new jewelery line by the brand Bulgari. In the reporting quarter, the new watch factory TAG Heuer was launched.
2013, there is a significant increase in prices for fancy colored diamonds, while prices for other categories of diamonds are difficult to maintain, the portal Diamond World reports. As a result, at various auctions and tenders organized in the last few weeks, new price records were set, which underlines the strong position of the market for colored diamonds, where the price increase is supported by the demand from dealers and private buyers.
Against the backdrop of supply constraints and buyers' agiotage, prices continue to grow. Although there is no official systematized price list for colored diamonds, the managing director of Rachminov Diamonds believes that prices for pink diamonds jumped by 30% on a monthly basis, while diamonds of intense bright yellow rose by almost 35%, while yellow diamonds lower quality rose in price by 10%.
According to the report, prices for fancy blue diamonds have increased by 35% over the past two years. Similar data were obtained from the recent tender of pink diamonds from the Argyle mine, organized by Rio Tinto. Leibish Polnauer of Leibish & Co., who bought 7 of the 64 Argyll diamonds tendered for this tender, said that the price increase was about 35% compared to the previous year. He also noted that more buyers took part in the tender.
As a result, Rio Tinto registered a price record after selling a 2.51-carat pink diamond for more than $ 2 million.
Against the backdrop of supply constraints and buyers' agiotage, prices continue to grow. Although there is no official systematized price list for colored diamonds, the managing director of Rachminov Diamonds believes that prices for pink diamonds jumped by 30% on a monthly basis, while diamonds of intense bright yellow rose by almost 35%, while yellow diamonds lower quality rose in price by 10%.
According to the report, prices for fancy blue diamonds have increased by 35% over the past two years. Similar data were obtained from the recent tender of pink diamonds from the Argyle mine, organized by Rio Tinto. Leibish Polnauer of Leibish & Co., who bought 7 of the 64 Argyll diamonds tendered for this tender, said that the price increase was about 35% compared to the previous year. He also noted that more buyers took part in the tender.
As a result, Rio Tinto registered a price record after selling a 2.51-carat pink diamond for more than $ 2 million.
Mumbai is a multinational city, known as one of the largest markets for all types of jewelry. Here everything is sold - gold items without inserts, with diamonds, colored jewels, jewelry with pearls, costume jewelry ... But even in this market, for many decades during the Dassehra holiday, people invested in gold in the form of jewelry or coins, and this is not just a tradition or a habit. However, times have changed, and cardinal changes have affected consumer preferences. Now, some jewelers working in Mumbai say that buyers go to them in search of gold jewelry, but eventually go with diamonds.
Even the owner of a jewelry store located in the suburbs of Mumbai, said: "In addition to interest in the yellow metal, a significant number of buyers invest in jewelry in the traditional style of kundan and polki, as well as emeralds. Holidays are a time when people indulge in shopping. Many people are attracted to jewelry with diamonds and platinum. We have a wide range of platinum jewelry, especially lightweight products. Buyers often prefer these jewelry for everyday wear. "
During the celebration of Dasar, the jeweler expects sales growth of at least 20%. Women believe that diamonds look great not only at special and formal events, but also in everyday life. Throughout the year, Indians are saving money to spend it during the festival. In addition, it is believed that the celebration of Dasar brings prosperity, so people are actively buying up jewelry.
Even the owner of a jewelry store located in the suburbs of Mumbai, said: "In addition to interest in the yellow metal, a significant number of buyers invest in jewelry in the traditional style of kundan and polki, as well as emeralds. Holidays are a time when people indulge in shopping. Many people are attracted to jewelry with diamonds and platinum. We have a wide range of platinum jewelry, especially lightweight products. Buyers often prefer these jewelry for everyday wear. "
During the celebration of Dasar, the jeweler expects sales growth of at least 20%. Women believe that diamonds look great not only at special and formal events, but also in everyday life. Throughout the year, Indians are saving money to spend it during the festival. In addition, it is believed that the celebration of Dasar brings prosperity, so people are actively buying up jewelry.
JC Penney Company Inc. reported that in September 2013 its sales in comparable stores decreased by 4% in the year-on-year terms. However, the group's revenues increased by 580 basis points compared to August 2013, reports Rapaport.
The results of sales of jewelry, clothing and accessories for women in September were better than the average performance of JC Penney for all categories of products. Gross margins were under pressure from factors such as excess inventory during the first two quarters of this year.
In the meantime, revenues from online sales at jcp.com jumped 25.3% year-on-year.
The results of sales of jewelry, clothing and accessories for women in September were better than the average performance of JC Penney for all categories of products. Gross margins were under pressure from factors such as excess inventory during the first two quarters of this year.
In the meantime, revenues from online sales at jcp.com jumped 25.3% year-on-year.
Researchers from the Swiss Gemmological Institute SSEF and the Swiss Federal Institute of Technology Zurich ETHZ have successfully extracted the oyster DNA from the pearl, which allows you to track the origin and determine its age.
This is the first successful experience of extracting oyster pearl from DNA.
The results of the research are publicly available in the journal PLoS ONE, and the corresponding technology will soon be patented.
A team of Swiss researchers managed to extract a small amount of DNA from a number of pearls, as a result of which an "oyster-mother" was installed. Pearls were taken from the oysters of the families Pinctada maxima, Pinctada margaritifera and Akoya oysters, which are the most important species in the trade of natural and cultured sea pearls.
This two-year research project, funded by SSEF, was carried out with the goal of increasing knowledge about pearls and researching its DNA to determine the geographical origin of pearls.
This is the first successful experience of extracting oyster pearl from DNA.
The results of the research are publicly available in the journal PLoS ONE, and the corresponding technology will soon be patented.
A team of Swiss researchers managed to extract a small amount of DNA from a number of pearls, as a result of which an "oyster-mother" was installed. Pearls were taken from the oysters of the families Pinctada maxima, Pinctada margaritifera and Akoya oysters, which are the most important species in the trade of natural and cultured sea pearls.
This two-year research project, funded by SSEF, was carried out with the goal of increasing knowledge about pearls and researching its DNA to determine the geographical origin of pearls.
Buyers interested in visiting the second Israeli Diamond Week in New York, scheduled for November 11-14, 2013, can undergo electronic registration, according to a press release received by Rough & Polished. Having filled the electronic form, they will join the numerous American jewelry retailers, who plan to make purchases and replenish the stocks of diamonds at this event. Participants in the Israeli Diamond Week in New York will have access to more than a hundred Israeli diamantaires and their American counterparts, which will be on display at the Diamond Dealers Club of New York (DDCNY).
Shmuel Schnitzer, recently elected president of Israel Diamond Exchange (IDE), said that the joint initiative of DCCNY and IDE will give American buyers a unique opportunity not only to gain access to vast diamond reserves from leading Israeli suppliers, but also to strengthen existing business ties with partners and form new long-term partnerships.
"New York is the largest center of the US trade in diamonds, precious stones and jewelry. During the Israeli Diamond Week in New York, participants will be able to interact with hundreds of manufacturers, traders and suppliers of diamonds and successfully cope with the task of replenishing reserves before the festive season, "Schnitzer said.
Shmuel Schnitzer, recently elected president of Israel Diamond Exchange (IDE), said that the joint initiative of DCCNY and IDE will give American buyers a unique opportunity not only to gain access to vast diamond reserves from leading Israeli suppliers, but also to strengthen existing business ties with partners and form new long-term partnerships.
"New York is the largest center of the US trade in diamonds, precious stones and jewelry. During the Israeli Diamond Week in New York, participants will be able to interact with hundreds of manufacturers, traders and suppliers of diamonds and successfully cope with the task of replenishing reserves before the festive season, "Schnitzer said.
The chain of jewelry stores Kirtilals, widely represented in the south of India, announced the expansion of the range of diamond jewelry. Recently, the company updated its central store in Chennai, expanding the range of diamond jewelry, paying attention to diamonds, the demand for which is growing faster than gold.
According to the representative of Kirtilals, the company came to such conclusions analyzing the wholesale sales of diamond jewelry, the growth rate of which is twice the corresponding figures for gold sales.
Kirtilals owns 9 stores in four states in the south of India and soon plans to open one store in Delhi. In accordance with the latest trends in the market, the company increased its commodity stocks of diamond products. Kirtilals introduced a new range of diamond jewelry, including the collection of Mystery, Precision Bangles and Glow & Go.
According to the representative of Kirtilals, the company came to such conclusions analyzing the wholesale sales of diamond jewelry, the growth rate of which is twice the corresponding figures for gold sales.
Kirtilals owns 9 stores in four states in the south of India and soon plans to open one store in Delhi. In accordance with the latest trends in the market, the company increased its commodity stocks of diamond products. Kirtilals introduced a new range of diamond jewelry, including the collection of Mystery, Precision Bangles and Glow & Go.
People's Republic of China visited the Israeli Diamond Exchange (IDE), and the subject of the talks was the development of China-Israel trade relations, Israelidiamond.co.il reported, citing IDE. The chairman of the Shanghai Municipal Trade Commission, Shang Yuying, met with IDF's newly elected president, Shmuel Schnitzer, and members of the exchange to increase trade between the two states, especially the development of cooperation in the diamond industry.
During her visit, Shang highly appreciated the security system at the diamond exchange in Ramat Gan. Meanwhile, Schnitzer is well acquainted with the activities of the Shanghai Diamond Exchange, and he played a big role in her education in 2000, and also worked in the advisory commission of the exchange.
Diamond Controller Shmuel Mordechai noted that, despite many differences, both exchanges have similar structures and systems for controlling trade turnover and customs authorities.
During her visit, Shang highly appreciated the security system at the diamond exchange in Ramat Gan. Meanwhile, Schnitzer is well acquainted with the activities of the Shanghai Diamond Exchange, and he played a big role in her education in 2000, and also worked in the advisory commission of the exchange.
Diamond Controller Shmuel Mordechai noted that, despite many differences, both exchanges have similar structures and systems for controlling trade turnover and customs authorities.
according to a recent survey, an increasing number of Indian consumers are leaning toward buying jewelry from white gold, diamonds and platinum, preferring their traditional gold products this holiday season. The study showed that 76% of jewelry retailers display diamonds from platinum, rather than traditional gold and silver jewelry, in response to changing preferences of local buyers.
This season there is an increased interest of Indian consumers in buying diamond and platinum jewelry.
It is also noted that frequent fluctuations in the price of gold and silver have led to a shift in consumers' attention to platinum and diamonds, which are considered to be good investment targets. Investments in gold are considered the oldest practice in India, but over the past few years, the popularity of investments in platinum and diamonds has increased dramatically.
This season there is an increased interest of Indian consumers in buying diamond and platinum jewelry.
It is also noted that frequent fluctuations in the price of gold and silver have led to a shift in consumers' attention to platinum and diamonds, which are considered to be good investment targets. Investments in gold are considered the oldest practice in India, but over the past few years, the popularity of investments in platinum and diamonds has increased dramatically.
The US consumer price index (CPI) for jewelry in September 2013 increased by 0.2% on a year-on-year basis and reached 181.01 points, reaching the second highest level since January 2012, when its value was 183.19 points , reports Rapaport.
According to the results of the first nine months of 2013, the average monthly value of the index decreased by 0.3% on a year-on-year basis.
In September, the average value of the index for the eleventh time exceeded the level of 180 points. Taking into account the data for September CPI exceeded the average mark of 170 points for 33 consecutive months.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of September, gold prices fell by 20% on a year-on-year basis, and platinum fell in price by 10%.
In September, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 5.5% on a year-on-year basis, prices for diamonds of 3 carats decreased by 3.9%, and diamonds with a weight of 0.5 carats were cheaper by 3 ,8%. Meanwhile, diamonds weighing 0.3 carats rose in price by 6.4%, according to RapNet.
According to the results of the first nine months of 2013, the average monthly value of the index decreased by 0.3% on a year-on-year basis.
In September, the average value of the index for the eleventh time exceeded the level of 180 points. Taking into account the data for September CPI exceeded the average mark of 170 points for 33 consecutive months.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of September, gold prices fell by 20% on a year-on-year basis, and platinum fell in price by 10%.
In September, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 5.5% on a year-on-year basis, prices for diamonds of 3 carats decreased by 3.9%, and diamonds with a weight of 0.5 carats were cheaper by 3 ,8%. Meanwhile, diamonds weighing 0.3 carats rose in price by 6.4%, according to RapNet.
in Taiwan will be organized the first international jewelry exhibition Taiwan Jewelery & Gem Fair, reports Rapaport. The event will be held at Taipei World Trade Center No. 3.
In addition to the sector where world-renowned jewelry manufacturers will be represented, the fair is planned to organize a section of national designers (Taiwanese Designers Area), where its products will be presented by local jewelry associations and designers, including the Association of Taiwan Creative Jewelery Designer Association, headed by Wang Yueh-Yaw, the Taiwan Jewelry Designer Association, Julia Peng, Wen-Ling Kang, Zhang Wen- han) and Qi-Ping Lu (Qi-Ping Lu).
Taiwan's jewelry boutiques are famous for products that combine coral and jadeite in design. Taiwan is the world's largest supplier of corals, but recently there was a shortage of this material, which provided an increase in prices for it.
Within the framework of the jewelry fair, seminars, meetings and other events will be held. Official website of the fair: http://www.taiwanjewelleryfair.com
In addition to the sector where world-renowned jewelry manufacturers will be represented, the fair is planned to organize a section of national designers (Taiwanese Designers Area), where its products will be presented by local jewelry associations and designers, including the Association of Taiwan Creative Jewelery Designer Association, headed by Wang Yueh-Yaw, the Taiwan Jewelry Designer Association, Julia Peng, Wen-Ling Kang, Zhang Wen- han) and Qi-Ping Lu (Qi-Ping Lu).
Taiwan's jewelry boutiques are famous for products that combine coral and jadeite in design. Taiwan is the world's largest supplier of corals, but recently there was a shortage of this material, which provided an increase in prices for it.
Within the framework of the jewelry fair, seminars, meetings and other events will be held. Official website of the fair: http://www.taiwanjewelleryfair.com
National Bureau of Statistics of China reported that in September, aggregate retail sales showed an increase of 13.3% year-on-year, to $ 339 billion, reports Rapaport. Over the period from January to September 2013, China registered a 12.9% rise in retail sales, up to $ 2.8 trillion a year.
The data presented indicate that consumer spending on the purchase of "gold, silver and jewelry" in September increased by 18.2% compared to the same month in 2012 and reached $ 3.6 billion.
In the first nine months of 2013, consumer spending in this category jumped by 29.6% on a year-on-year basis, to $ 37 billion, the most impressive growth among all product categories. Further on the growth rates are followed by furniture and goods for construction and finishing, the purchase costs of which grew by 21% during the reporting period.
Indian company Kalyan Jewellers on October 20 opened a new jewelry salon, which is located in the city of Trivandrum, Kerala.
A three-story store with a total area of 15,000 square meters. feet became the largest jewelry salon in Trivandrum. The new showroom features a wide assortment of brand jewelry made of 22-carat gold. A separate section in the store Kalyan Jewellers is allocated for diamond jewelry.
Kalyan Jewelers, whose annual trading turnover currently stands at Rs 130 billion, set itself the task of increasing trade to 200 billion rupees by the end of 2014.
The company, which holds leading positions in the production and marketing of jewelry, has received numerous awards, including the Bombay Bullion and Jewelery Awards in the category "Best Jewelry Retail Network" in India.
A three-story store with a total area of 15,000 square meters. feet became the largest jewelry salon in Trivandrum. The new showroom features a wide assortment of brand jewelry made of 22-carat gold. A separate section in the store Kalyan Jewellers is allocated for diamond jewelry.
Kalyan Jewelers, whose annual trading turnover currently stands at Rs 130 billion, set itself the task of increasing trade to 200 billion rupees by the end of 2014.
The company, which holds leading positions in the production and marketing of jewelry, has received numerous awards, including the Bombay Bullion and Jewelery Awards in the category "Best Jewelry Retail Network" in India.
Reduction of prices for rough diamonds by almost 5% did not add optimism to the participants of Indian diamond trade, as consumers are very reserved in purchases, the Indian edition of The Economic Times writes.
Demand for diamond jewelry, traditionally revitalized by the beginning of the Navratri festival, remains weak this year, and diamond traders are negotiating with raw materials suppliers to force them to lower prices again.
However, falling prices for raw diamonds cheered traders who expect to revive export markets. In the US, there has been an increase in demand, orders from EU countries have started to arrive.
Managing Director of Laxmi Diamond Ashok Gajera (Ashok Gajera) told the reporter: "Prices for rough diamonds this month fell, and next month, a further decline of about 3% is expected. The reason for this is stagnation in the market, forcing suppliers to cut prices. In India, there is hardly any demand for these precious stones. "
The liquidity crisis caused a significant impact on the demand for diamonds in India.
Demand for diamond jewelry, traditionally revitalized by the beginning of the Navratri festival, remains weak this year, and diamond traders are negotiating with raw materials suppliers to force them to lower prices again.
However, falling prices for raw diamonds cheered traders who expect to revive export markets. In the US, there has been an increase in demand, orders from EU countries have started to arrive.
Managing Director of Laxmi Diamond Ashok Gajera (Ashok Gajera) told the reporter: "Prices for rough diamonds this month fell, and next month, a further decline of about 3% is expected. The reason for this is stagnation in the market, forcing suppliers to cut prices. In India, there is hardly any demand for these precious stones. "
The liquidity crisis caused a significant impact on the demand for diamonds in India.
The prices of gold and silver in India have risen sharply in recent days amid the agiotage demand from retailers and jewelry manufacturers in the run-up to the Diwali festival and amid signals of recovery in the global market.
Gold prices rose to 170 rupees and reached 32 570 per 5 grams, while silver gained RS 450 to 49 900 RS for 1 kg on the background of growth in sales of jewelry manufacturers and various industrial enterprises.
One bullion trader stated that retailers and jewellery manufacturers actively made purchases, to prepare for the festivals of Dhanteras and Diwali, during which traditionally increases the demand for the precious metal.
A clear global trend, formed against the background of fears that the us Federal Reserve will adhere to policies to stimulate economic growth, supported by market sentiment, some sources from the Indian industry.
Gold prices rose to 170 rupees and reached 32 570 per 5 grams, while silver gained RS 450 to 49 900 RS for 1 kg on the background of growth in sales of jewelry manufacturers and various industrial enterprises.
One bullion trader stated that retailers and jewellery manufacturers actively made purchases, to prepare for the festivals of Dhanteras and Diwali, during which traditionally increases the demand for the precious metal.
A clear global trend, formed against the background of fears that the us Federal Reserve will adhere to policies to stimulate economic growth, supported by market sentiment, some sources from the Indian industry.
In the Israeli diamond week in New York - a joint initiative of the New York Diamond Dealers Club (DDC) and the Israel Diamond Exchange (IDE), will be attended by more than 120 Israeli companies, according to the press- release received by Rough & Polished.
The event is scheduled for November 11-14, 2013 and will be held in the DDC's trading hall at 580 5th Avenue in Manhattan. The Israeli diamond week is expected to increase the activity of buyers - members of the DDC and IDE are preparing to serve customers from all over the United States, who will make purchases on the eve of the holiday season. The event is designed to ensure the growth of turnover for members of both exchanges and the strengthening of business ties between local suppliers and their customers.
IDE President Shmuel Schnitzer said that the diamond week is designed to help participants adjust to changing consumer preferences and developing new trends in retail purchases, and, accordingly, to ensure the replenishment of retailers' inventory. Schnitzer said that according to recent surveys of the US National Retail Federation (NRF)
The event is scheduled for November 11-14, 2013 and will be held in the DDC's trading hall at 580 5th Avenue in Manhattan. The Israeli diamond week is expected to increase the activity of buyers - members of the DDC and IDE are preparing to serve customers from all over the United States, who will make purchases on the eve of the holiday season. The event is designed to ensure the growth of turnover for members of both exchanges and the strengthening of business ties between local suppliers and their customers.
IDE President Shmuel Schnitzer said that the diamond week is designed to help participants adjust to changing consumer preferences and developing new trends in retail purchases, and, accordingly, to ensure the replenishment of retailers' inventory. Schnitzer said that according to recent surveys of the US National Retail Federation (NRF)
The International Jewelery Exhibition in London (IJL) is accepted as a commercial member of the World Jewelery Confederation (CIBJO), and as such becomes the first jewelry trade event in the United Kingdom to be represented in this international organization.
"CIBJO considers jewelry trade exhibitions as key events for our industry that not only provide opportunities for business development but also are forums where we can discuss and resolve common issues and problems," said CIBJO President Gaetano Cavalieri in this regard. Cavalieri).
According to him, IJL for a long time was a trading platform for the subjects of trade from Great Britain, Europe and the rest of the world. The exhibition is ideally suited for the promotion of CIBJO programs for the harmonization of industry standards, corporate social responsibility (CSR) and the increase of consumer confidence.
"CIBJO considers jewelry trade exhibitions as key events for our industry that not only provide opportunities for business development but also are forums where we can discuss and resolve common issues and problems," said CIBJO President Gaetano Cavalieri in this regard. Cavalieri).
According to him, IJL for a long time was a trading platform for the subjects of trade from Great Britain, Europe and the rest of the world. The exhibition is ideally suited for the promotion of CIBJO programs for the harmonization of industry standards, corporate social responsibility (CSR) and the increase of consumer confidence.
According to the results of eight months of 2013, China produced more than 270 tons of gold, according to the China Gold Association. In July, gold production reached almost 40 tons, and in August - 38 tons.
According to the association, gold production for this period increased by 6% compared to last year and reached 220 tons. In July, production increased by 24 tons, or more than 11% compared to the same period in 2012.
The World Gold Council noted that China has held the position of the largest gold producer for the last 6 years, while the production volume has grown 100 times compared to the figures of 1949.
Albert Cheng, managing director of WGC in the Far Eastern region, said at a recent conference in Rome that it is China that is likely to reach a turnover of 1,000 tons of gold, the Mineweb.com portal cited. This represents approximately 25% of the total annual volume of the world gold market.
According to the association, gold production for this period increased by 6% compared to last year and reached 220 tons. In July, production increased by 24 tons, or more than 11% compared to the same period in 2012.
The World Gold Council noted that China has held the position of the largest gold producer for the last 6 years, while the production volume has grown 100 times compared to the figures of 1949.
Albert Cheng, managing director of WGC in the Far Eastern region, said at a recent conference in Rome that it is China that is likely to reach a turnover of 1,000 tons of gold, the Mineweb.com portal cited. This represents approximately 25% of the total annual volume of the world gold market.
The prices for diamonds will increase annually by an average of 6% in the period to 2020, experts predict BMO Capital Markets, the investment division of the Bank of Montreal.
According to analysts, the volume of the diamond market by 2020 will be 25 billion euros.
These growth trends experts explain the rising demand for diamond jewelry from the nouveaux riches from China and India. At the same time, the supply level practically does not change quantitatively.
According to analysts, the volume of the diamond market by 2020 will be 25 billion euros.
These growth trends experts explain the rising demand for diamond jewelry from the nouveaux riches from China and India. At the same time, the supply level practically does not change quantitatively.
The US consumer price index (CPI) for jewelry in August 2013 increased by 2.5% on a year-on-year basis and amounted to 182.13 points, reaching the highest level since January 2012, when its value was 183.19 points, Rapaport reports. However, following the results of the first eight months of 2013, the value of the index decreased by 0.4%, which generally indicates its stability.
In August, the average index value for the tenth time exceeded the level of 180 points. Taking into account the data for August CPI exceeded the average mark of 170 points for 32 consecutive months.
CPI for jewelry reached a record level of 183 points in January 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of the end of August, gold prices fell 16% on a year-on-year basis, and platinum fell in price by 2%.
In August, the average index value for the tenth time exceeded the level of 180 points. Taking into account the data for August CPI exceeded the average mark of 170 points for 32 consecutive months.
CPI for jewelry reached a record level of 183 points in January 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of the end of August, gold prices fell 16% on a year-on-year basis, and platinum fell in price by 2%.
The export of gold jewelry from India in August 2013 increased compared to the previous month, due to the improvement in demand from the US and despite the tightening of the conditions for the supply of precious metal after a series of measures taken by the Reserve Bank of India (RBI) to counter the growth in the trade balance deficit.
It is expected that in the coming months Indian gold jewelry exports will grow, as RBI has tied the Indian metal imports to deliveries abroad and has given some explanations about ambiguous rules wording, which will potentially ease the position of exporters.
According to the Gems and Jewelery Export Promotion Council of India, GJEPC, in August India exported gold jewelry worth $ 561 million, while in July exports were $ 441.4 million.
It is expected that in the coming months Indian gold jewelry exports will grow, as RBI has tied the Indian metal imports to deliveries abroad and has given some explanations about ambiguous rules wording, which will potentially ease the position of exporters.
According to the Gems and Jewelery Export Promotion Council of India, GJEPC, in August India exported gold jewelry worth $ 561 million, while in July exports were $ 441.4 million.
The Gem & Jewelery Export Promotion Council (GJEPC) will organize the 40th Indian Gem & Jewelery Awards for its members next month, the best jewelry exporters. The winners of the competition are selected according to the indicators of export volumes, creation of added value, new jobs and investments in research and development and other indicators for the 2012-13 fiscal year.
The jury members, including Nirupa Bhatt, managing director of Managing Director GIA, Shri K. Subrahmanyan, executive director of Union Bank of India and Pawan Bindal, director of Dun & Bradstreet, have already completed selection of winners in all categories. The award ceremony will be held in Mumbai on October 5, 2013.
370 applications were submitted to the GJEPC competition, and the jury identified 31 winners in the categories related to sales of precious metals, gold jewelry without inserts, jewelery, silver jewelry, diamonds, jewelry, colored gemstones, synthetic stones and sales to foreign tourists. In addition to these categories, awards will be awarded in 9 special nominations - for young companies, women entrepreneurs, for achievements in the jewelry industry, etc.
The jury members, including Nirupa Bhatt, managing director of Managing Director GIA, Shri K. Subrahmanyan, executive director of Union Bank of India and Pawan Bindal, director of Dun & Bradstreet, have already completed selection of winners in all categories. The award ceremony will be held in Mumbai on October 5, 2013.
370 applications were submitted to the GJEPC competition, and the jury identified 31 winners in the categories related to sales of precious metals, gold jewelry without inserts, jewelery, silver jewelry, diamonds, jewelry, colored gemstones, synthetic stones and sales to foreign tourists. In addition to these categories, awards will be awarded in 9 special nominations - for young companies, women entrepreneurs, for achievements in the jewelry industry, etc.
Despite the current problems that have engulfed the Indian diamond sector, the long-term prospects for its development look promising, Rapaport said.
In the framework of the Rapaport international diamond conference in Mumbai Rapaport Group Chairman Martin Rapaport held a round table, the main theme of which was behavior in a changing environment.
Panel experts, including Blue Star Diamonds Director Arnav Mehta, Managing Director of Rosy Blue India Pvt. Ltd. Russell Mehta, CEO of Shrenuj & Co. Ltd. Vishal Doshi and Rapaport Global Sales Director Ezriel Rapaport talked about how to move forward effectively. They noted the importance of research and development, the need to look more broadly at production capacity and issues of value creation, business combination, partnership building and the search for alternative sources of finance.
In the framework of the Rapaport international diamond conference in Mumbai Rapaport Group Chairman Martin Rapaport held a round table, the main theme of which was behavior in a changing environment.
Panel experts, including Blue Star Diamonds Director Arnav Mehta, Managing Director of Rosy Blue India Pvt. Ltd. Russell Mehta, CEO of Shrenuj & Co. Ltd. Vishal Doshi and Rapaport Global Sales Director Ezriel Rapaport talked about how to move forward effectively. They noted the importance of research and development, the need to look more broadly at production capacity and issues of value creation, business combination, partnership building and the search for alternative sources of finance.
2013, sales in comparable Japanese department stores showed an increase of 2.7% on a year-on-year basis, to $ 4.4 billion, Rapaport reported citing statistics from the Japan Department Stores Association. Sales growth was recorded for the first time in two months.
The most significant growth in product categories fell on art products, jewelry and precious metals, whose sales increased in August by 18.3% to $ 231 million (22.8 billion Japanese yen).
The monthly report says that Japan's heat wave was prolonged, which ensured the growth of retail sales - consumers were looking for light clothing and accessories, including interest in luxury brands. The weakening of the yen in August attracted more foreign tourists to Japan, especially among Hong Kong and South Korean citizens.
The most significant growth in product categories fell on art products, jewelry and precious metals, whose sales increased in August by 18.3% to $ 231 million (22.8 billion Japanese yen).
The monthly report says that Japan's heat wave was prolonged, which ensured the growth of retail sales - consumers were looking for light clothing and accessories, including interest in luxury brands. The weakening of the yen in August attracted more foreign tourists to Japan, especially among Hong Kong and South Korean citizens.
Indian diamond exports jumped 35.9% on a year-on-year basis to $ 1.923 billion in August 2013, according to preliminary figures from the Gem and Jewelery Export Promotion Council (GJEPC).
By volume, polished exports from India increased by 23.3% year-on-year to 3.77 million carats. Imports of diamonds in value terms jumped by 45% to $ 524.8 million, thus, net polished exports for August increased by 33.3% to $ 1.398 billion.
Indian rough diamond imports jumped 32.5% year-on-year to $ 681.6 million, while raw material exports fell 16.1% to $ 135 million. Net Indian imports of rough diamonds in August 2013 were 50 , 8% above the corresponding value in August 2012 and reached $ 546.6 million. The
Indian net diamond account, reflecting the difference in net exports and imports, increased to $ 851.4 million in August from $ 686.7 million a year earlier.
As a result of the first eight months of the 2013 calendar year, Indian polished exports, Rapaport estimates, showed a 22.7% increase to $ 14.448 billion, while imports jumped 30% to $ 4.901 billion.
By volume, polished exports from India increased by 23.3% year-on-year to 3.77 million carats. Imports of diamonds in value terms jumped by 45% to $ 524.8 million, thus, net polished exports for August increased by 33.3% to $ 1.398 billion.
Indian rough diamond imports jumped 32.5% year-on-year to $ 681.6 million, while raw material exports fell 16.1% to $ 135 million. Net Indian imports of rough diamonds in August 2013 were 50 , 8% above the corresponding value in August 2012 and reached $ 546.6 million. The
Indian net diamond account, reflecting the difference in net exports and imports, increased to $ 851.4 million in August from $ 686.7 million a year earlier.
As a result of the first eight months of the 2013 calendar year, Indian polished exports, Rapaport estimates, showed a 22.7% increase to $ 14.448 billion, while imports jumped 30% to $ 4.901 billion.
The Tanishq brand, which belongs to the group of companies TATA Group and sells diamond jewelry, plans to launch a new low-price collection of up to Rs50,000 to ensure trade turnover by increasing sales of diamond jewelry during the Diwali holiday season. The company will focus on increasing sales of diamonds in order to get a 25-30% increase in revenue in the third financial quarter.
According to some sources, Tanishq achieved good results by carrying out an advertising campaign for the sale of diamond products with 15% discounts in August, which ensured sales growth.
Now the company has prepared several lucrative offers to increase sales during the holiday season. A new line of jewelry "Diwali" will be presented during the holiday. It consists of pendants, rings and earrings, available for under 50,000 rupees.
According to some sources, Tanishq achieved good results by carrying out an advertising campaign for the sale of diamond products with 15% discounts in August, which ensured sales growth.
Now the company has prepared several lucrative offers to increase sales during the holiday season. A new line of jewelry "Diwali" will be presented during the holiday. It consists of pendants, rings and earrings, available for under 50,000 rupees.
It is expected that the export of precious stones and jewelry from India in October 2013 will show growth for the third consecutive month to a mark of about 198 billion rupees, due to an improvement in the situation with the supply of raw materials, according to the Council for the Promotion of the Export of Gemstones and Jewelry (Gems and Jewelery Export Promotion Council of India, GJEPC).
GJEPC states that Indian exports of precious stones and jewelry in October could be 36% higher than the corresponding figure for October 2012, which amounted to Rs 144.75 billion.
GJEPC states that Indian exports of precious stones and jewelry in October could be 36% higher than the corresponding figure for October 2012, which amounted to Rs 144.75 billion.
prices for certified diamonds fell, while the volume of trade was noticeably lower than usual at this time of year, Rapaport reported.
The US holds a dominant position among consumers of diamonds on the eve of the Christmas season.
Indian demand for diamonds on the eve of the Diwali holiday was rather weak, and demand in China declined after the Golden Week, which was celebrated from October 1. The turnover of diamonds differed depending on the category, in particular, the demand for stones of 0.3-0.5 carats of commercial quality (HK color, SI-I1 purity) was quite stable.
The price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat in October fell by 1.7%. RAPI for diamonds weighing 0.30 carats increased by 0.4%, and diamonds weighing 0.50 carats went up by 0.2%. With respect to diamonds weighing 3 carats, the index fell by 0.7%.
The monthly Rapaport report for October 2013, titled "Price Uncertainty," notes that diamond prices fell in October due to weakening global demand and limiting liquidity in the market.
American retailers are dragging out with purchases for the holiday season amid continued uncertainty about prices and consumer sentiment.
The October deadlock around the increase in the debt ceiling forced retailers to lower their forecasts for the Christmas season.
Indian diamond traders faced uncertainty just before the Diwali holiday, which began on November 1 - reports of the government's intention to increase the duty on polished imports from 2% to 5% were reported on the market.
The first responses from retailers since the commencement of Diwali celebrations indicate a decline in demand for gold and diamond jewelry. The Indian polished diamond sector continues to suffer from a lack of liquidity caused by a low margin of profit and high commodity prices amid weakening domestic demand throughout 2013.
jewelry from the collection "In the Garden" of the Japanese master of enamel art Kunio Nakadzimy will be held.
The elegant collection of Kunio Nakajima was already presented to visitors of DeSign Luxury Diamonds Boutique in March this year, and the work of the famous Japanese jeweler and artist-enameler made an indelible impression on the Moscow audience, first of all with its unique aesthetics and closeness to nature in its finest forms.
This time, visitors to the show of selected jewelry will be presented with a unique opportunity to try on specially selected exquisite pendants made in the ancient Japanese "Sippo" technique, colorful rings with jeweled inserts framed by stained glass leaves, elegant brooches inspired by the images of the great European masters of the Art Nouveau era .
Kunio Nakajima is a true classic of modern jewelry art. His works are exhibited in major cities of Japan and the world. At the permanent exhibition "Les Orfevres" in Brussels, Kunio Nakajima's works will be exhibited alongside the works of René Lalique, Henri Vever, Frederic Busheron, Eugène Gellar. The main principle of the Japanese master's work goes back to the traditional motives of the eastern aesthetics - the ratio of simple and elegant.
Leading experts of jewelry art celebrate the irreproachable and rare authenticity of Kunio Nakajima's works of art, especially in the context of the turn of the 20th and 21st centuries, when around, including in the jewelry art, there is a penetration and replication of artistic styles.
The elegant collection of Kunio Nakajima was already presented to visitors of DeSign Luxury Diamonds Boutique in March this year, and the work of the famous Japanese jeweler and artist-enameler made an indelible impression on the Moscow audience, first of all with its unique aesthetics and closeness to nature in its finest forms.
This time, visitors to the show of selected jewelry will be presented with a unique opportunity to try on specially selected exquisite pendants made in the ancient Japanese "Sippo" technique, colorful rings with jeweled inserts framed by stained glass leaves, elegant brooches inspired by the images of the great European masters of the Art Nouveau era .
Kunio Nakajima is a true classic of modern jewelry art. His works are exhibited in major cities of Japan and the world. At the permanent exhibition "Les Orfevres" in Brussels, Kunio Nakajima's works will be exhibited alongside the works of René Lalique, Henri Vever, Frederic Busheron, Eugène Gellar. The main principle of the Japanese master's work goes back to the traditional motives of the eastern aesthetics - the ratio of simple and elegant.
Leading experts of jewelry art celebrate the irreproachable and rare authenticity of Kunio Nakajima's works of art, especially in the context of the turn of the 20th and 21st centuries, when around, including in the jewelry art, there is a penetration and replication of artistic styles.
Rio Tinto reported on the successful results of the recent tender for "special" diamonds, on which large rough diamonds from three Rio mines were exposed.
Among the lots offered for the tender, held from October 3 to 24 in Antwerp and Israel, were high-quality diamonds weighing more than 10.8 carats, mined by Rio Tinto in Australia, Canada and Zimbabwe.
The collection of diamonds consisted of 104 parties, the central place among the lots was held by fantasy diamonds of cognac color, obtained at the Argyle mine. The most valuable lot was a 74-carat diamond mined at the Murowa mine in Zimbabwe.
"This special diamond tender demonstrates the uniqueness of Rio Tinto's diamond assets portfolio, and the results reflect the high demand for these categories," said Patrick Coppens, general sales manager for Rio Tinto Diamonds.
Among the lots offered for the tender, held from October 3 to 24 in Antwerp and Israel, were high-quality diamonds weighing more than 10.8 carats, mined by Rio Tinto in Australia, Canada and Zimbabwe.
The collection of diamonds consisted of 104 parties, the central place among the lots was held by fantasy diamonds of cognac color, obtained at the Argyle mine. The most valuable lot was a 74-carat diamond mined at the Murowa mine in Zimbabwe.
"This special diamond tender demonstrates the uniqueness of Rio Tinto's diamond assets portfolio, and the results reflect the high demand for these categories," said Patrick Coppens, general sales manager for Rio Tinto Diamonds.
Jewelry, gold and silver - traditional purchases during the holidays of Dantheres and Diwali - this season have faced fierce competition from other products, such as mobile phones. Many brands of mobile phones entice consumers with special promotions and offers that work when buying expensive models, which can be the cause of the situation.
However, jewelers note that despite the reduction in traffic compared to the previous year, buyers go to their stores and buy various jewelry without showing any special preferences. Some consumers prefer diamond jewelry to ordinary gold jewelry because of high gold prices, but many gold lovers make purchases, despite the increased prices.
Meanwhile, jewelers sought to find ways to increase sales, which would be simultaneously not very burdensome for consumers. This year, among Indian jewelers, the sale of lightweight jewelry is popular.
"The new trend, which appeared this year, involves the production of large and hollow jewelry - in this case, buyers are satisfied, buying a massive piece of gold, which looks good," - said one jeweler.
However, jewelers note that despite the reduction in traffic compared to the previous year, buyers go to their stores and buy various jewelry without showing any special preferences. Some consumers prefer diamond jewelry to ordinary gold jewelry because of high gold prices, but many gold lovers make purchases, despite the increased prices.
Meanwhile, jewelers sought to find ways to increase sales, which would be simultaneously not very burdensome for consumers. This year, among Indian jewelers, the sale of lightweight jewelry is popular.
"The new trend, which appeared this year, involves the production of large and hollow jewelry - in this case, buyers are satisfied, buying a massive piece of gold, which looks good," - said one jeweler.
Sales in American jewelry stores in August 2013 demonstrated an annual increase of 6.9% and reached $ 2.389 billion, reports Rapaport. The growth rate of sales is inferior to the July figures, when the growth in the year-on-year terms reached 9%. Meanwhile, the consumer price index for jewelry in August rose by 2.5% on a year-on-year basis, approaching a record level of 183 points. Sales in jewelry stores in the first 8 months of 2013 rose 9.2% in the year to $ 19.652 billion.
Lead Economist Sterne Agee Lindsey Piegza explains that during the first half of the year, consumers actively bought cars, saving on other goods, and In August, they increased spending on discretionary purchases and non-durable goods.
According to Sterne Agee, sales of furniture, electronics, sports goods, and personal care products showed good results.
The National Retail Federation of the United States (National Retail Federation, NRF) said that in September there was a growth in sales in most retail sectors.
"American consumers remain extraordinarily cautious and pay attention to value, but they continue to spend money. Only time will tell when "closing the government" and the problem associated with raising the debt ceiling will affect retailers and consumers, "
Lead Economist Sterne Agee Lindsey Piegza explains that during the first half of the year, consumers actively bought cars, saving on other goods, and In August, they increased spending on discretionary purchases and non-durable goods.
According to Sterne Agee, sales of furniture, electronics, sports goods, and personal care products showed good results.
The National Retail Federation of the United States (National Retail Federation, NRF) said that in September there was a growth in sales in most retail sectors.
"American consumers remain extraordinarily cautious and pay attention to value, but they continue to spend money. Only time will tell when "closing the government" and the problem associated with raising the debt ceiling will affect retailers and consumers, "
Luk Fook Holdings said that for the six months ended September 30, 2013, it expects a sharp increase in profits, which is due to good sales figures for gold jewelry. Based in Hong Kong jewelry retailer also said that there is encouraging growth in sales of jewelry with precious stones, reports Rapaport.
The group will publish its interim financial indicators at the end of November. Earlier, Luk Fook reported a 56% increase in sales of gold products in comparable stores, as well as an increase in sales of jewelery with precious stones by 10%
The group will publish its interim financial indicators at the end of November. Earlier, Luk Fook reported a 56% increase in sales of gold products in comparable stores, as well as an increase in sales of jewelery with precious stones by 10%
Indian company PC Jeweller for a month spent for its customers a festive action, which took place in 37 salons of the company on the occasion of the festival Diwali. Recently, PC Jeweller announced the winners of the lottery, organizing a festive ceremony at the South Extension in Delhi. Promo-campaign was held from October 5 to November 5.
PC Jeweler RK Sharma, the operating director of PC Jewelery, presented the keys to Skoda cars to the winners of the lottery held in the South Extension saloon. Under the terms of the action, customers who committed purchases in the specified period for the amount of Rs 25,000 in any of the company's stores could participate in the lottery.
R.K.Sharma said: "We are always pleased to see how our customers are happy with such actions. Consumer interests always rank among our priorities in the first place, and we are sure that such initiatives strengthen our relations with customers. Diwali is the most important festival for most of us, it is an excellent occasion to exchange gifts, celebrate this holiday together, so this action was an attempt to make Diwali more prosperous and successful for our clients. "
As one of the winners said: "We planned to buy a car in the coming months, raised funds, but this year Diwali brought us great luck, and we thank PC Jeweller, which has realized our dream." Another client who received the keys to the car said that he is a regular visitor to the PC Jeweller salons and he really likes many jewelry collections, noting that thanks to PCJ this Diwali was the most successful
PC Jeweler RK Sharma, the operating director of PC Jewelery, presented the keys to Skoda cars to the winners of the lottery held in the South Extension saloon. Under the terms of the action, customers who committed purchases in the specified period for the amount of Rs 25,000 in any of the company's stores could participate in the lottery.
R.K.Sharma said: "We are always pleased to see how our customers are happy with such actions. Consumer interests always rank among our priorities in the first place, and we are sure that such initiatives strengthen our relations with customers. Diwali is the most important festival for most of us, it is an excellent occasion to exchange gifts, celebrate this holiday together, so this action was an attempt to make Diwali more prosperous and successful for our clients. "
As one of the winners said: "We planned to buy a car in the coming months, raised funds, but this year Diwali brought us great luck, and we thank PC Jeweller, which has realized our dream." Another client who received the keys to the car said that he is a regular visitor to the PC Jeweller salons and he really likes many jewelry collections, noting that thanks to PCJ this Diwali was the most successful
The demand for gold in India fell by 32% to 148.2 tonnes for the period from July to September 2013, due to supply constraints and high inflation, according to the World Gold Council (WGC).
It is expected that in the fourth quarter of this year the demand for yellow metal will be lower than the corresponding figure a year earlier, when it reached 219.1 tons. However, according to the aggregate demand in 2012, it can reach 900 tons, exceeding the demand volume of 860 tons in 2012 .
According to WGC, in the third quarter of 2013 jewelry and investment demand for gold showed a decline of 23% and 48% respectively.
It is expected that in the fourth quarter of this year the demand for yellow metal will be lower than the corresponding figure a year earlier, when it reached 219.1 tons. However, according to the aggregate demand in 2012, it can reach 900 tons, exceeding the demand volume of 860 tons in 2012 .
According to WGC, in the third quarter of 2013 jewelry and investment demand for gold showed a decline of 23% and 48% respectively.
Prices for jewelry in the first six months of this year increased by 10% compared with the same period in 2012, said Ryuven Kaufman, president of the Diamond Dealers Club of New York, DDC.
"During the first half of this year, jewelry sales grew by about 10% compared to last year," the press service of the Israeli Diamond Exchange quoted Kaufmann as saying.
"During the first half of this year, jewelry sales grew by about 10% compared to last year," the press service of the Israeli Diamond Exchange quoted Kaufmann as saying.
The Israeli Diamond Exchange (IDE) and the Diamond Dealers Club of New York (DDC) announced the holding of the second Israeli diamond week in New York, which will take place from 11 to 14 November in the club's trading floor . The event is a joint initiative of two exchanges and is aimed at boosting trade between their members.
According to IDE president Yair Sahar, the format of the diamond week in New York and Israel has been very successful and since the first week in New York in December of last year, the enthusiasm of members of both exchanges has grown beyond expectations.
More than 100 Israeli diamond companies have already registered to participate in the event. "Last year, at the Israeli Diamond Week in New York, we had about 50 participants. The enthusiasm of our members about participation in the upcoming event speaks for itself
According to IDE president Yair Sahar, the format of the diamond week in New York and Israel has been very successful and since the first week in New York in December of last year, the enthusiasm of members of both exchanges has grown beyond expectations.
More than 100 Israeli diamond companies have already registered to participate in the event. "Last year, at the Israeli Diamond Week in New York, we had about 50 participants. The enthusiasm of our members about participation in the upcoming event speaks for itself
polished imports to Japan showed a decrease of 3% on a year-on-year basis, to $ 64.5 million, Momozawa reports with reference to the statistics of the Ministry of Finance. In the meantime, diamond imports by volume jumped by 47% compared to August 2012, amounting to 200,512 carats, while the average value of imported diamonds decreased by 33% to $ 322 per carat, Rapaport reports.
Japanese imports of polished diamonds from India remained at the level of last year at $ 35.2 million. Imports of polished diamonds from Belgium showed an increase of 52% to $ 11.5 million, while imports from Israel fell 31% to $ 3.1 million , while imports from Hong Kong decreased by 41% to $ 3.9 million.
In the first eight months of 2013, Japanese polished imports declined 6% to $ 553.8 million. The volume of imports from January to August 2013 grew by 25% year-on-year to 1.575 million carats.
Japanese imports of polished diamonds from India remained at the level of last year at $ 35.2 million. Imports of polished diamonds from Belgium showed an increase of 52% to $ 11.5 million, while imports from Israel fell 31% to $ 3.1 million , while imports from Hong Kong decreased by 41% to $ 3.9 million.
In the first eight months of 2013, Japanese polished imports declined 6% to $ 553.8 million. The volume of imports from January to August 2013 grew by 25% year-on-year to 1.575 million carats.
Malabar Gold & Diamonds expects revenue growth of up to $ 3.5 billion (219 billion Indian rupees), thanks to the expansion strategy in the Indian and Middle Eastern markets, Rapaport reports. Recently, the 100th jewelry store Malabar Gold & Diamonds was opened, which is located in the 43th sector of the Gold Souk market in Indian Gurgaon. In the future Malabar plans to expand its retail network to 220 outlets and reach an annual turnover of $ 6 billion by 2015.
"By implementing our ambitious expansion plan, we are constantly outperforming our competitors and increasing our ranking among the world's leading jewelry retailers, and we intend to become a leader in the near future," said Shamlal Ahamed, Managing Director of the international division of Malabar Gold & Diamonds . "However, the most important factor in our success is the ability to best serve customers and meet their needs, as judged by the number of loyal customers."
oldest Swiss manufactory Vacheron Constantin and Sublime by Bosco presented the first copy of the collection of watches created in limited edition specifically for the 120th anniversary of the Main Universal Store of the country.
Watches Metiers d'Art Vacheron Constantin are unique, but not alone. The model will be made in platinum, yellow and pink gold. The head of Bosco Mikhail Kusnirovich presented the guests with the first of three unique specimens.
Already at the end of November a second copy of the watch will be brought to Moscow from Switzerland - in a case of yellow gold, and closer to December a model in pink gold will appear.
From the idea to make a joint project for the anniversary of GUM before the solemn presentation in the Demonstration Hall passed about two years - for the watch business it is almost a record time. Designers Vacheron Constantin specially came to Moscow, in GUM, for inspiration. During the walk through the famous galleries of the store, an idea was born to use elements of GUM decor and architecture on the dial.
Watches Metiers d'Art Vacheron Constantin are unique, but not alone. The model will be made in platinum, yellow and pink gold. The head of Bosco Mikhail Kusnirovich presented the guests with the first of three unique specimens.
Already at the end of November a second copy of the watch will be brought to Moscow from Switzerland - in a case of yellow gold, and closer to December a model in pink gold will appear.
From the idea to make a joint project for the anniversary of GUM before the solemn presentation in the Demonstration Hall passed about two years - for the watch business it is almost a record time. Designers Vacheron Constantin specially came to Moscow, in GUM, for inspiration. During the walk through the famous galleries of the store, an idea was born to use elements of GUM decor and architecture on the dial.
As a result of the first three quarters of 2013, the Israeli diamond and diamond industry demonstrated almost all sales growth, according to Diamond Controller Shmuel Mordechai, who released data on Israeli imports and exports of diamonds between January and September, Diamondintelligence .
In the first nine months of 2013, Israeli polished exports rose 8.7% to $ 4.7 billion, compared to $ 4.3 billion in the same period last year.
Israeli exports of rough diamonds for this period reached $ 2.2 billion, an increase of 8.5% compared to $ 2.1 billion in the first three quarters of 2012.
Israeli imports of rough diamonds showed an increase of 9.4% to $ 2.9 billion, compared to $ 2.6 billion in the same period of 2012.
Imports of polished diamonds in the reporting period reached $ 3.06 billion, compared to $ 3.09 billion in January-September 2012, a decrease of 1.1% on a year-on-year basis.
The US remained the largest consumer of Israeli diamonds, accounting for 35% of Israeli exports, equivalent to $ 1.6 billion. The second largest market for Israeli diamonds was Hong Kong with a 28% share, equivalent to $ 1.3 billion. Switzerland exported diamonds worth $ 447 million (9.6 percent of total exports), and to Belgium - $ 350 million (7.6 percent).
In the first nine months of 2013, Israeli polished exports rose 8.7% to $ 4.7 billion, compared to $ 4.3 billion in the same period last year.
Israeli exports of rough diamonds for this period reached $ 2.2 billion, an increase of 8.5% compared to $ 2.1 billion in the first three quarters of 2012.
Israeli imports of rough diamonds showed an increase of 9.4% to $ 2.9 billion, compared to $ 2.6 billion in the same period of 2012.
Imports of polished diamonds in the reporting period reached $ 3.06 billion, compared to $ 3.09 billion in January-September 2012, a decrease of 1.1% on a year-on-year basis.
The US remained the largest consumer of Israeli diamonds, accounting for 35% of Israeli exports, equivalent to $ 1.6 billion. The second largest market for Israeli diamonds was Hong Kong with a 28% share, equivalent to $ 1.3 billion. Switzerland exported diamonds worth $ 447 million (9.6 percent of total exports), and to Belgium - $ 350 million (7.6 percent).
A diamond produced from a diamond mined two years ago in South Africa was auctioned in Hong Kong for HK $ 238.68 million ($ 30.8 million).
Bloomberg reported that an impeccably pure 118.28 carat diamond-oval cut diamond was the largest stone ever to be auctioned.
According to forecasts, the diamond could go under the hammer at a price of 280 million Hong Kong dollars ($ 36 million).
The auction house Sotheby's can not disclose the identity of the buyer and diamond cutter, saying only that the stone was tested in accordance with all the requirements of the Kimberley Process, as well as the provisions of the US Clean Diamond Trade Act.
Bloomberg reported that an impeccably pure 118.28 carat diamond-oval cut diamond was the largest stone ever to be auctioned.
According to forecasts, the diamond could go under the hammer at a price of 280 million Hong Kong dollars ($ 36 million).
The auction house Sotheby's can not disclose the identity of the buyer and diamond cutter, saying only that the stone was tested in accordance with all the requirements of the Kimberley Process, as well as the provisions of the US Clean Diamond Trade Act.
Trying to cope with the crisis of liquidity in the diamond industry, the Indian diamond cutting and polishing center in Surat decided to reduce the production of polished diamonds to 50% of full capacity and maintain these figures throughout the fourth quarter.
According to the Indian Council for the Promotion of Gems and Jewelery Export Promotion (GJEPC), diamond producers cut production by almost 50% due to insufficient profitability, which is due to continued high prices for rough diamonds, the volatility of the rupee exchange rate and the decline in demand for diamonds.
Reducing the production of diamonds can lead to an increase in the price of diamonds, as well as to force world diamond producers to reduce prices for rough diamonds.
According to the Indian Council for the Promotion of Gems and Jewelery Export Promotion (GJEPC), diamond producers cut production by almost 50% due to insufficient profitability, which is due to continued high prices for rough diamonds, the volatility of the rupee exchange rate and the decline in demand for diamonds.
Reducing the production of diamonds can lead to an increase in the price of diamonds, as well as to force world diamond producers to reduce prices for rough diamonds.
according to a press release Rapaport. At the same time, the current value of the index is almost similar to the corresponding indicator in September 2012 (126.33 points).
In general, prices for small diamonds in the third quarter continued to decline due to the complicated situation in India and China and despite the forecasts for the activation of diamond trade on the eve of the fourth quarter. The diamond turnover in India was limited due to the volatility of the rupee and the caution displayed by members of the domestic retail market.
"We observed a continuing trend towards a weakening of diamond prices in the third quarter, and in September, there was a slight improvement in the situation and price stabilization. Due to the limited liquidity and weak demand for diamonds, diamantaires refused the goods on De Beers sites and reduced their production capacities by 30-50%. In the fourth quarter, we expect a shortage of diamonds, as producers restrain production volumes in anticipation of falling commodity prices, which can provide a reasonable rate of return. Market participants remain cautious, while the Indian rupee exchange rate is starting to recover at a record low, and demand growth in China is projected to continue to slow. Steady demand for diamonds in the US provides stability in the market and leads to a deficit in some categories of goods.
In general, prices for small diamonds in the third quarter continued to decline due to the complicated situation in India and China and despite the forecasts for the activation of diamond trade on the eve of the fourth quarter. The diamond turnover in India was limited due to the volatility of the rupee and the caution displayed by members of the domestic retail market.
"We observed a continuing trend towards a weakening of diamond prices in the third quarter, and in September, there was a slight improvement in the situation and price stabilization. Due to the limited liquidity and weak demand for diamonds, diamantaires refused the goods on De Beers sites and reduced their production capacities by 30-50%. In the fourth quarter, we expect a shortage of diamonds, as producers restrain production volumes in anticipation of falling commodity prices, which can provide a reasonable rate of return. Market participants remain cautious, while the Indian rupee exchange rate is starting to recover at a record low, and demand growth in China is projected to continue to slow. Steady demand for diamonds in the US provides stability in the market and leads to a deficit in some categories of goods.
Subscribe to:
Posts (Atom)