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RAPAPORT ® TRADEWIRE ®
January 16, 2025
Rapaport Market Comment - January 16, 2025

Signet share price plummeted 22% on Jan. 14 after holiday same-store sales -2% YOY, with weak fashion sales and shift to lower price points. Share price declined 43% over past 3 months. Independents had better season than large chains. Drop in consumer prices for synthetics incentivizing retailers to sell natural. Richemont fiscal 3Q sales at jewelry maisons +14% YOY to $4.6B. Rupee depreciation (-3% since Oct. 1 to INR 86.6/$1) may reduce Indian demand. Industry cautious about taking on inventory. Alrosa reduces prices by about 8% at Jan. sale. Low sales expected at next week’s De Beers sight. India 2024 net polished exports -20% to $7.8B, net rough imports -16% to $11.3B.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.61% 0.10% -26.87%
0.50 ct -0.54% 0.14% -17.27%
1.00 ct -0.54% -1.42% -24.78%
3.00 ct -0.34% -0.12% -17.76%
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Market Reports
United States: Season was decent for independent jewelers but tougher for large chains…
United States: Season was decent for independent jewelers but tougher for large chains…
Belgium: Little demand from retailers…
Belgium: Little demand from retailers…
Israel: Market slow amid weak overseas orders…
Israel: Market slow amid weak overseas orders…
India: Dealers reluctant to invest in inventory…
India: Dealers reluctant to invest in inventory…
Hong Kong: Market focusing on lower-budget items such as colored gemstones…
Hong Kong: Market focusing on lower-budget items such as colored gemstones…
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Oversize Me: The Diamonds Outperforming a Weak Market
By Joshua Freedman

Why stones just shy of round carat weights are the current hot item.

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Jeweler now expects same-store sales to drop between 2% and 2.5%, down from previous prediction of 3% maximum increase.
Signet Slashes Fourth-Quarter Guidance Following Weak Holiday Sales
Jeweler now expects same-store sales to drop between 2% and 2.5%, down from previous prediction of 3% maximum increase.
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CEO will exit after 11 years in role and 29 on institute’s board of governors.
GIA Chief Susan Jacques to Step Down
CEO will exit after 11 years in role and 29 on institute’s board of governors.
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Category up 14% year on year for three months that ended December 31.
Jewelry Boosts Richemont to Highest Quarterly Sales
Category up 14% year on year for three months that ended December 31.
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A total of 720 businesses shuttered, up 15% from 628 the previous year.
US Jewelry-Store Closure Rate Increases in 2024
A total of 720 businesses shuttered, up 15% from 628 the previous year.
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Production also ramped up after area reopened from closure due to ground sinkage.
Rio Tinto Output Surges as New Portion of Mine Moves Underground
Production also ramped up after area reopened from closure due to ground sinkage.
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Henry Hänni led the organization from 1990 to 2009.
Former Director of Swiss Gemmological Institute Dies
Henry Hänni led the organization from 1990 to 2009.
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DCA and JA requesting donations for retail stores and manufacturers affected by Los Angeles wildfires.
Industry Groups Revive Jewelers Relief Fund
DCA and JA requesting donations for retail stores and manufacturers affected by Los Angeles wildfires.
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Julia Hackman Chafé is a jewelry and luxury content creator, while Monica Elias is CEO of Elias World Media.
Diamonds Do Good Appoints Two New Board Members
Julia Hackman Chafé is a jewelry and luxury content creator, while Monica Elias is CEO of Elias World Media.
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