Rapaport TradeWire June 16, 2022

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June 16, 2022

Rapaport Weekly Market Comment - June 16, 2022 News: Sentiment positive following Las Vegas shows. Fairs had busy visitor traffic; jewelers with good liquidity after profitable 2021 bought vigorously ahead of holiday season. US jewelry sales +22% in May, says Mastercard. High end robust. Consumers purchasing diamonds as hedge against inflation and stock market slump. Many concerned about rising cost of living as Fed hikes interest rates 0.75%. Some factories receiving Alrosa goods despite ban; industry uncertain how this will impact market. Rough trading slows after De Beers sight. Chow Tai Fook cautious about short-term China economy as Apr./May sales -13%. Blue Nile to go public with $873M valuation. LVMH invests in lab-grown producer Lusix via $90M funding round.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.1% 0.2% -1.1% 0.50 ct -0.2% -0.6% 6.9% 1.00 ct -0.1% -0.6% 18.9% 3.00 ct -0.1% 0.0% 24.3%

Market Reports United States: Bridal doing solid business during summer wedding season… Belgium: Suppliers trying to maintain stable prices ahead of anticipated shortages due to Russian sanctions… Israel: 2 to 3 ct., G-J, VS-SI fancies and rounds selling well… India: Dealers cautious due to stock market decline, rupee depreciation to all-time low of INR 78 per $1, and drop in available inventory… Hong Kong: Government stimulus boosting spending…

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Rapaport 'State of the Diamond Industry' Presentation By Martin Rapaport In-depth analysis exploring the three primary forces impacting the diamond market: the Russian invasion, economic transformation and social responsibility.

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Podcast: Lessons from Vegas With the Rapaport Diamond Podcast Rapaport's Joshua Freedman and Avi Krawitz discuss trends and sentiment at the Las Vegas shows, which tend to set the tone for the industry moving into the second half of the year.

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Synova Advertorial: On the Threshold of Radical Change

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Top Stories of the Week Positive Vibes as Las Vegas Shows End Diamond exhibitors report strong traffic and sales.   SEE MORE   Jewelry Outperforms Other Categories in May Segment up 22% year on year.   SEE MORE   Inflation Hinders May Retail Sales Figure down 0.3% from previous month, according to NRF.   SEE MORE   Blue Nile to Go Public with $873M Valuation Company saw revenue rise 21% to $566 million in 2021.   SEE MORE   Chow Tai Fook Sales Slide at Start of Year Group revenue for April and May down 13%.   SEE MORE   Rough Scarcities to Bring Polished Premiums With the market split over Russian goods, a price differential may be on the horizon.   SEE MORE   Civil Society Calls to Suspend Russia from Kimberley Process Observer organization also continuing push for expanded conflict-diamond definition.   SEE MORE   Richemont, Kering Return to RJC After Alrosa storm, organization reviews bylaws to ensure it can take swifter action in future.   SEE MORE   Signet Settles Long-Running Gender-Bias Lawsuit Sterling Jewelers agrees to pay $175 million in class action involving 68,000 female employees.   SEE MORE   LVMH Invests in Lab-Grown Producer Lusix Luxury group joins two other participants in $90 million funding round.   SEE MORE   Israel Bourse to Host World Diamond Congress Event will take place on March 29 and 30, 2023.   SEE MORE

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