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RAPAPORT ® TRADEWIRE ®
October 14, 2022
Rapaport Market Brief - October 13, 2022

Mixed expectations for the holiday season. US jewelry sales steady, but economic uncertainty affecting sentiment. IMF lowers 2023 global growth forecast due to China slowdown, Ukraine war and inflation pressure. Jewelry outpacing other luxury sectors, says Mastercard. LVMH 3Q jewelry and watch revenue +25% to $2.6B. Diamond trading slow. Manufacturers holding enough inventory ahead of Oct. 24 Diwali break. Rough market cautious. Sotheby’s HK sells cushion, 11.15 ct., fancy-vivid-pink Williamson Pink Star for $58M ($5.2M/ct.). De Beers CEO Bruce Cleaver to be co-chairman in 2023; Al Cook of Equinor ASA to become CEO. Rapaport offices will be closed Oct. 17-18 for Jewish holidays.

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -1.17% -1.87% -5.87%
0.50 ct -1.33% -3.69% -5.62%
1.00 ct -1.44% -4.16% 1.32%
3.00 ct -0.89% -2.11% 12.12%
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A Call for Gender Equality in the Jewelry Industry
By Iris Van der Veken

On the 10th anniversary of the International Day of the Girl, Iris Van der Veken, executive director of the Watch and Jewellery Initiative 2030, urges the trade to play a stronger role in promoting equal rights and representation for women.

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GIA Advertorial: Full Disclosure at Your Fingertips
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Top Stories of the Week
<p>Al Cook, executive at Norway-based global energy company Equinor, will take over.</p>
Bruce Cleaver to Step Down as De Beers CEO
Al Cook, executive at Norway-based global energy company Equinor, will take over.
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<p>Lot becomes second-most valuable jewel ever sold at auction.</p>
Pink Diamond Sells For $58M
Lot becomes second-most valuable jewel ever sold at auction.
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<p>Latest measures restrict imports of certain jewelry-related materials.</p>
No Diamonds in EU Sanctions on Russia
Latest measures restrict imports of certain jewelry-related materials.
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<p>Jewelry revenue up 25% year on year in third quarter.</p>
Tiffany Sparkles as LVMH Sales Surge
Jewelry revenue up 25% year on year in third quarter.
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<p>Category up 7% year on year, according to Mastercard SpendingPulse.</p>
US Jewelry Sales Rise in September
Category up 7% year on year, according to Mastercard SpendingPulse.
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<p>US e-commerce sales expected to rise 2.5% year on year, compared to 9% in 2021, Adobe says.</p>
Economic Uncertainty to Impact Online Holiday Spending
US e-commerce sales expected to rise 2.5% year on year, compared to 9% in 2021, Adobe says.
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<p>Current CFO Willy Mertens to take over on November 1.</p>
Debmarine Namibia Names New CEO
Current CFO Willy Mertens to take over on November 1.
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<p>Jewelry division climbed 18% year on year in second quarter.</p>
Titan Sales Rise Amid Higher-Value Purchases
Jewelry division climbed 18% year on year in second quarter.
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