> IDEX Online Research: Jewelry Price Inflation Diminishes
>Inflation in the jewelry industry continues to diminish, both at the supplier level and the consumer level. This is no surprise, for a couple of reasons.
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(April 28, 2009) |
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Swiss Watch Exports Not Picking Up
Exports of Swiss watches in March fell 26.6 percent to 914.4 billion Swiss francs ($786.2 billion), as exports continued to slide, according to data released by the Swiss watch federation, Reuters reported. |
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(April 26, 2009) |
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LVMH Jewelry Revenue Suffers 27% Drop in the First Quarter
First quarter revenues at luxury group LVMH Moët Hennessy Louis Vuitton were practically flat in reported terms at €4 billion. Sales by its watches and jewelry group fell 27 percent to €154 million. |
(April 23, 2009) |
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> 30 Carat Diamond Sells for $130,000 P/C at Christie’s
A 30.02 carat pear-shaped D, Internally Flawless type Iia diamond was sold for $4,002,500 to an unidentified private buyer at Christie’s New York jewelry auction on Wednesday. The winning bid represents a $133,000 per carat sale price. |
(April 23, 2009) |
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> Cost of Average Engagement Ring Up 43% Since 2006
According to a recently released survey by Brides.com the average cost of an engagement ring has risen to $6,348. This represents a 43 percent rise over 2006's average engagement ring cost of $4,435. |
(April 23, 2009) |
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De Beers 25% Staff Reduction Completed
The De Beers Group completed a 25 percent staff reduction at its London headquarters. The process, brought on as part of a corporate expense reduction measure, was a direct outcome of the economic crisis that started in October and led to a sharp decline in diamond sales. |
(April 20, 2009) |
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IDEX Online Research: History Didn’t Predict Jewelry Sales Trends in Q4
There is an old adage in the jewelry industry that upper-end jewelers out-performed mass market jewelers in a recessionary environment. There were even statistics which supported this old adage. But in the current recessionary environment of the fourth quarter of 2008, the economy dealt the jewelry industry a surprise: history and old adages were not good predictors of consumer demand and shoppers’ spending. |
(April 16, 2009) |
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Surprising 67% Jump in Rio Tinto YoY Q1 Diamond Production
While most diamond miners curtailed their diamond mining, Rio Tinto surprised the industry with increased production in the first quarter of 2009. The multi-commodity miner mined 5.506 million carats in the quarter, compared to 3.296 million carats it mined in the first quarter o 2008. Compared to the preceding fourth quarter, production was down 19.7 percent. |
(April 16, 2009) |
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> Angola: Abandoning Diamond Firms Won’t Be Allowed Back
Mankenda Ambroise, Angola’s minister of geology and mining, said diamond companies that left Angola in the past year would not be welcome back. The statement, made to the AFP news agency, follows a decision by the Angolan government to subsidize salaries to prevent mass layoffs in the local diamond industry. |
(April 26, 2009) |
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> Diamond Buy Requests - Quick Delivery for Quick Market Reaction
Knowing who wants the goods that you have is probably the hottest piece of information a diamond trader can have. In a move to make doing business even easier, IDEX Online is now emailing its members daily email alerts with lists of new and updated polished diamond requests. |
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(April 23, 2009) |
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Leviev Sells Assets to Pay Off Debts
Israeli diamond magnet Lev Leviev is selling key assets owned by Africa-Israel Investments Ltd., the public real estate company he controls, to ensure that it has the cash to pay-off debts. |
(April 23, 2009) |
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India’s Rough Diamond Trade Slides in Fiscal 2008-09
The 23.2 percent drop in rough diamond imports reported on Wednesday underlines the harsh times the Indian diamond industry went through in fiscal 2008-09. With a weak U.S. market for polished diamonds, and reports of large stockpiling of polished goods, there is little reason to purchase rough diamonds. |
(April 23, 2009) |
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> PAC Report Sheds More Light on Zimbabwe’s Shady Diamond Trade
A report titled Zimbabwe, Diamonds and the Wrong Side of History released by Partnership Africa Canada (PAC) describes the role diamonds play in theZimbabwean economy and how they are used in the country’s “increasingly repressive governance.” |
(April 23, 2009) |
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Report: Possible 'Blood Diamonds' Seized at JFK
Customs officials at New York's John F. Kennedy Airport seized $800,000 in diamonds on Saturday because the stones did not have the proper certificates required under the Kimberley Process Certification Scheme, according to a report from NBC New York. |
(April 16, 2009) |
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Debswana Renews Mining Operations
Diamond mining at three of Debswana’s four diamond mines restarted Wednesday after a 50 day halt in production. Some 5,800 people returned to work at Jwaneng, Orapa and Letlhakane while work at the fourth and smallest mine, Damtshaa, and at Orapa No.2 Plant, will remain suspended until the end of 2009. |
(April 16, 2009) |
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No UK Sight Goods to the U.S., Net Imports Drop to $80K in February
The U.S. imported just 21,303 carats of rough diamonds with a declared value of $5.9 million in February. A 92 percent drop from February 2008. None of the goods were imported from the UK, indicating that the Diamond Trading Company (DTC) did not ship any goods to U.S. Sightholders. |
(April 13, 2009) |
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