De Beers to Invest in Diamond Start-Ups

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RAPAPORT… De Beers is launching an initiative to consider buying
minority stakes in start-ups and rapidly growing companies, the diamond
producer announced Thursday.
The operation, De Beers Ventures, will look into making
small equity investments in areas such as consumer brands, marketing platforms,
security, cutting and polishing, and imaging technologies, the miner said.
“Not all good …

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Rapaport Weekly Market Comment

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Rough market cools slightly as De Beers raises prices an average 2% to
3% at $530M June sight. De Beers limiting supply to support prices and align
with sluggish polished sales. Hong Kong show begins with rising expectations
for Chinese demand, after Las Vegas demonstrated cautious and changing US
market. Declining mall traffic and popularity of custom-made bespoke jewelry
impacting jewelers’…

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Rapaport Weekly Market Comment

Tags

, ,

Rough market cools slightly as De Beers raises prices an average 2% to
3% at $530M June sight. De Beers limiting supply to support prices and align
with sluggish polished sales. Hong Kong show begins with rising expectations
for Chinese demand, after Las Vegas demonstrated cautious and changing US
market. Declining mall traffic and popularity of custom-made bespoke jewelry
impacting jewelers’…

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via IFTTT

Rapaport Weekly Market Comment

Tags

, ,

Rough market cools slightly as De Beers raises prices an average 2% to
3% at $530M June sight. De Beers limiting supply to support prices and align
with sluggish polished sales. Hong Kong show begins with rising expectations
for Chinese demand, after Las Vegas demonstrated cautious and changing US
market. Declining mall traffic and popularity of custom-made bespoke jewelry
impacting jewelers’…

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Swiss Watch Trade Shows Signs of Recovery

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RAPAPORT… Swiss watch exports jumped in May amid stronger demand from China
and Hong Kong, the Federation of the Swiss Watch Industry reported Thursday.
Exports grew 9% to $1.75 billion (CHF 1.7 billion) for the
month, driven by an 18% rise in shipments to Hong Kong, which stood at $229.9
million (CHF 223.7 million). Chinese orders increased 34% to $119.2 million
(CHF 116 million). Exports…

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Optimism for Hong Kong as Show Begins

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RAPAPORT… The 30th-anniversary edition of the Hong Kong Jewellery
& Gem Fair opened Thursday amid an improvement in the local consumer market this year.
Sales of jewelry, watches, clocks and other valuable gifts
in Hong Kong increased 1.2% year on year to $3.1 billion (HKD 24.19 billion)
for the first four months of 2017, according to data the Census and Statistics
Department released e…

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Cartier Releases New ‘The Proposal’ Films

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RAPAPORT… Cartier has followed up on its acclaimed “The Proposal”
commercials by publishing two new videos on social media this week.

The clips tell two separate stories of couples who meet
by accident and — spoiler alert — develop a relationship that culminates in the
perfect proposal with a Cartier diamond ring.

Within 24 hours of going up on the jewelry brand’s
Instagram acco…

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Battle for Gemfields Heats Up with Investor Move

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RAPAPORT… Pallinghurst Resources has upped the ante in the bidding war
for Gemfields by lowering the number of shareholder acceptances it needs for
its offer to acquire the gemstone miner.
Pallinghurst dropped the “acceptance condition” to 60% from
75% following discussions with the UK’s Panel on Takeovers and
Mergers, the private-equity group said Tuesday. This meant Pallinghurst was
able…

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Harry Winston Spends $5.5M on Rockefeller Emerald

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RAPAPORT… Harry Winston bought the Rockefeller Emerald for a record
price per carat at Christie’s New York on Tuesday.

The luxury jeweler’s CEO, Nayla Hayek, had instructed chief
financial officer Robert Scott to “bring this magnificent gem home at any
price,” Christie’s reported Wednesday. That price was $5.5 million, setting a world
record of $305,516 per carat for an emerald a…

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