CEO Dan Mano explains why RapNet became Rapaport Trade – and how the Price List will become truly transparent.
Category: Retail
Revenue up 0.2% from the previous month to $722.7 billion.
Items costing less than $5,000 showed strongest consumer demand.
New locations are part of efforts to reach expat consumers living abroad.
Select Equity Group, which holds nearly 10% of jeweler’s stock, feels company has made mistakes.
Revenue from jewelry, watches, clocks and valuable gifts down 18% year on year for the month.
Daniel Bracken, who had been with the company since 2018, suffered an adverse reaction to medical treatment.
Upscale retailers had a strong holiday season amid growth in top earners’ spending, though they remain hesitant about investing in diamond inventory.
Company also launches new “Portraits of True Brilliance” campaign.
Revenue down 0.7% in first half, when higher-value gift-buying mostly offset weak overall demand.
After nearly five years with the company, she will leave at the end of the month.