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RAPAPORT ® TRADEWIRE ®
January 13, 2023
Rapaport Market Comment - January 12, 2023

Diamond trade uncertain amid slow demand. Polished production low as cutters seek to reduce inventory of less-popular goods. All eyes on next week’s De Beers sight as rough prices decline at auctions. Macy’s warns that US consumers will be under pressure in 2023 after disappointing holiday sales. Independents say season salvaged by last-minute rush. China reawakening after government scraps quarantine for travelers ahead of lunar festival. Busy Diwali pushes Titan’s FY3Q jewelry sales +11%. Sarine agrees to buy majority stake in GCAL. Charles Stanley retires as president of De Beers brands in North America. Signet promotes Jamie Singleton to president and chief consumer officer.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct 0.74% 1.67% -7.35%
0.50 ct 0.14% -0.51% -11.37%
1.00 ct -0.08% -1.23% -11.68%
3.00 ct -0.08% -1.25% -3.94%
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Market Reports
<p><strong>United States: </strong>High end robust, with good demand from jewelry brands…</p>
United States: High end robust, with good demand from jewelry brands…
<p><strong>Belgium: </strong>Collection goods below 1 ct. doing well in D-G, IF-VVS…</p>
Belgium: Collection goods below 1 ct. doing well in D-G, IF-VVS…
<p><strong>Israel: </strong>Expectations low for first half of 2023 as US and China remain uncertain…</p>
Israel: Expectations low for first half of 2023 as US and China remain uncertain…
<p><strong>India: </strong>Polished production below capacity but starting to rise amid expectations of greater 1Q orders…</p>
India: Polished production below capacity but starting to rise amid expectations of greater 1Q orders…
<p><strong>Hong Kong: </strong>China showing signs of upturn following Covid-19 wave. Focus on gold jewelry ahead of January 22 Chinese New Year…</p>
Hong Kong: China showing signs of upturn following Covid-19 wave. Focus on gold jewelry ahead of January 22 Chinese New Year…
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Six Stories That Will Shape the Diamond Market in 2023
By Avi Krawitz

It may take a few months before sentiment improves and buoyancy returns to the trade.

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Podcast: Tech-Inspired Diamond Stories

Technology will play an important role in the trade this year as jewelers try out new design tools and narrative strategies, says Rapaport Acting Editor Rachael Taylor.

 

 

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Three Jewelry Trends That Will Dominate 2023
By Anthony DeMarco

Consumers are seeking a combination of age-old designs and the latest fashion styles.

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<p>Parties sign nonbinding agreement, plan to reach final deal in coming months.</p>
Sarine to Buy Majority Stake in Grading Lab GCAL
Parties sign nonbinding agreement, plan to reach final deal in coming months.
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<p>North America brand chief played key role in developing Forevermark.</p>
De Beers Exec Charles Stanley to Retire
North America brand chief played key role in developing Forevermark.
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<p>Jamie Singleton becomes group president and chief consumer officer.</p>
Signet Jewelers Reshuffles Leadership Team
Jamie Singleton becomes group president and chief consumer officer.
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<p>De Beers and Tiffany among prominent brands on red carpet.</p>
Diamonds, Platinum Shine at Golden Globes
De Beers and Tiffany among prominent brands on red carpet.
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<p>US brand has been reporting to group CEO Bernard Arnault since 2021 takeover.</p>
LVMH Jewelry Division Takes Over Tiffany Management
US brand has been reporting to group CEO Bernard Arnault since 2021 takeover.
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<p>Lull in middle of shopping period was deeper than expected, company says.</p>
Macy’s Tempers Forecast Amid Slow Holiday Season
Lull in middle of shopping period was deeper than expected, company says.
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<p>While global spending remained flat, America gained 5%, according to Salesforce.</p>
Cyber Week Drives Bump in US Online Holiday Sales
While global spending remained flat, America gained 5%, according to Salesforce.
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<p>GJEPC asks government for clarity on how to categorize the materials.</p>
India Seeks 0% Import Duty on Lab-Grown Seeds
GJEPC asks government for clarity on how to categorize the materials.
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<p>Revenue up 12% in third fiscal quarter.</p>
India’s Titan Enjoys Strong Diwali Sales
Revenue up 12% in third fiscal quarter.
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<p>Monika Biernacka was previously sales director at International Gemological Institute (IGI).</p>
GSI Names New Head of Operations
Monika Biernacka was previously sales director at International Gemological Institute (IGI).
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