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RAPAPORT ® TRADEWIRE ®
October 28, 2022
Rapaport Market Comment - October 27, 2022

Trading slow as India shuts for Diwali. Polished prices continue to decline amid weak demand and rising inventory. High-end doing well. De Beers research shows brands gaining market share, boosted by ethical assurances. Insight Report estimates 2021 global rough sales +47% to $16.4B, polished demand +27% to $28B, diamond-jewelry demand +27% to $87B. De Beers 3Q production +4% to 9.6M cts., sales volume +17% to 9.1M cts., increases buyback allowance for 1 ct.+ rough to 20% due to tough market. Petra Diamonds FY1Q revenue -9% to $104M. Swarovski, Breitling, Zales expand lab-grown offerings. De Beers names actress Lupita Nyong’o as its first global ambassador.

 

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RAPNET DIAMOND INDEX (RAPI™)
Weekly Monthly Y2Y
0.30 ct -0.68% -2.49% -6.01%
0.50 ct -0.48% -3.67% -6.53%
1.00 ct -0.70% -4.00% -0.20%
3.00 ct -0.17% -1.60% 11.60%
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Market Reports
<p><strong>United States: </strong>Retail jewelers more optimistic than dealers for the season…</p>
United States: Retail jewelers more optimistic than dealers for the season…
<p><strong>Belgium:</strong> Uncertainty fueled by expectations of further price declines…</p>
Belgium: Uncertainty fueled by expectations of further price declines…
<p><strong>Israel:</strong> Smaller stones below 0.18 ct. selling better than 1 ct. and larger…</p>
Israel: Smaller stones below 0.18 ct. selling better than 1 ct. and larger…
<p><strong>India: </strong>Focus now on retail, with hope that strong gold demand for the festival will spill over to diamonds…</p>
India: Focus now on retail, with hope that strong gold demand for the festival will spill over to diamonds…
<p><strong>Hong Kong: </strong>Trading still lower than usual for this time of year…</p>
Hong Kong: Trading still lower than usual for this time of year…
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Podcast: Jewelry Goes Genderless

More jewelers and designers are launching unisex collections, expecting gender-neutral styles to be a “massive” trend this holiday season.

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Turning a Bust into a Boost
By Milena Lazazzera

As a potential recession looms, jewelers can draw on the lessons of past downturns to weather the darkening economic climate.

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Top Stories of the Week
<p>Miner will allow sightholders to sell 20% of larger goods back to the company.</p>
De Beers Eases Buyer Terms Amid Market Slowdown
Miner will allow sightholders to sell 20% of larger goods back to the company.
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<p>Deterioration of economic conditions could dampen demand.</p>
De Beers Expects Slowdown After Solid Quarter
Deterioration of economic conditions could dampen demand.
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<p>Gen Z driving the move toward trusted labels, company says in annual Insight Report.</p>
Branded Diamonds Command a Premium – De Beers
Gen Z driving the move toward trusted labels, company says in annual Insight Report.
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<p>Lupita Nyong’o will appear in miner’s new brand campaign and support its Building Forever project.</p>
De Beers Taps Hollywood Star as First Global Ambassador
Lupita Nyong’o will appear in miner’s new brand campaign and support its Building Forever project.
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<p>First sale of the year begins January 16.</p>
De Beers Reveals 2023 Sight Dates
First sale of the year begins January 16.
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<p>Customers plan to buy nine gifts this year, compared to 16 in 2021.</p>
Inflation to Curb Holiday Shopping
Customers plan to buy nine gifts this year, compared to 16 in 2021.
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<p>Revenue from company’s “other houses” segment up 17% in third quarter.</p>
Jewelry Sales Remain Strong at Kering
Revenue from company’s “other houses” segment up 17% in third quarter.
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<p>Miner extends latest tender due to “unusual market conditions.”</p>
Petra Diamonds Notes Shaky Demand
Miner extends latest tender due to “unusual market conditions.”
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<p>Signet banner’s partnership with wedding-dress retailer Kleinfeld to feature 1- to 3-carat synthetic diamonds.</p>
Zales Features Bigger Lab-Grown in New Bridal Collab
Signet banner’s partnership with wedding-dress retailer Kleinfeld to feature 1- to 3-carat synthetic diamonds.
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<p>Watchmaker will also switch to artisanally mined gold.</p>
Breitling to Use Only Lab-Grown Diamonds by 2024
Watchmaker will also switch to artisanally mined gold.
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<p>Austrian crystal house will roll out collection in 200 US and Canada stores.</p>
Swarovski Expands Lab-Grown Offering Across North America
Austrian crystal house will roll out collection in 200 US and Canada stores.
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<p>Jeweler hopes to clean up supply of metal from Peruvian Amazon.</p>
Brilliant Earth Aims to Reduce Mercury in Gold Mining
Jeweler hopes to clean up supply of metal from Peruvian Amazon.
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<p>Company has resumed basic operations and will reopen the rest in phases.</p>
Gemfields Cautiously Restarts Mine Following Insurgency
Company has resumed basic operations and will reopen the rest in phases.
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<p>Leeds & Son acquisition will expand retailer’s reach within US.</p>
Bucherer Snaps Up California Jeweler
Leeds & Son acquisition will expand retailer’s reach within US.
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<p>Barbara Ng becomes jewelry brand’s head of product management.</p>
Chow Tai Fook Exec Takes Role at Hearts on Fire
Barbara Ng becomes jewelry brand’s head of product management.
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