Titan Company’s diamond-sourcing costs have jumped in the past eight months, prompting the Indian retailer to pass price increases on to shoppers, its top jewelry executive said.
Revenue rose strongly at Brilliant Earth in the second quarter as the US retailer expanded its online-offline model and benefited from higher sales of fine jewelry.
Israel’s diamond exports saw a rare decline in July amid a slowdown in the global market. Polished shipments out of the country fell 7% year on year to $296.6 million for the month.
net profit rose 1% year on year to CAD 22.6 million ($17.6 million) in the second quarter as the global diamond market rebounded and rough prices firmed.
The State Bank of India (SBI) has begun financing synthetics producers and is thought to be the country’s first lender to draw up a formal policy for the sector.
