Rapaport TradeWire August 18, 2022

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August 18, 2022

Rapaport Weekly Market Comment - August 18, 2022 News: Trading seasonally quiet during summer lull. Lack of sales to Far East weakening sentiment, with US demand supporting market. Increasing concern about impact of inflation and higher interest rates on mid-income consumers. Holiday outlook positive. Manufacturers maintaining lower production due to slowdown in orders. Polished trading sluggish. Rough prices stable at De Beers sight; premiums drop to around 2% on secondary market, leaving little room for profit. Gem Diamonds 1H revenue -4% to $100M, average price -7% to $1,745/ct. Brilliant Earth 2Q sales +18% to $109M. Sarine launches automated in-factory grading. Pandora to roll out lab-grown collection in US on Aug. 25.

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RAPNET DIAMOND INDEX (RAPI™) Size Weekly Monthly Y2Y 0.30 ct -0.4% -2.9% -5.9% 0.50 ct -0.6% -3.3% -1.8% 1.00 ct -0.6% -3.6% 7.6% 3.00 ct -0.5% -2.6% 16.9%

Market Reports United States: Stones above 2 ct. performing better than smaller sizes, reflecting reduced mid-market sales due to inflation… Belgium: Slow activity during vacation period with bourses still closed for summer… Israel: Optimism for holidays as US demand remains solid… India: Polished production remains low due to uncertain demand and shortages of Russian rough… Hong Kong: Local sentiment picking up as coronavirus situation eases…

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US Wholesale: Inflation Threatens the Bottom Line By Joyce Kauf Soaring costs and reduced discretionary income are raising concerns in the diamond trade.

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A Trip Down Memo Lane By Jennifer Heebner While consignment can be a touchy subject for jewelry creators, both they and their retail clients can benefit if there are firm and respectful guidelines in place.

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A Rocky Start-Up: Incubators in the Diamond Industry By Sarah Jordan Tech pioneers have their work cut out for them in a traditionally old-school sector.

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Top Stories of the Week US Retail Sales Weather Inflation Woes Spending for July up 10% year on year, but flat compared to June.   SEE MORE   Pandora Picks US for Lab-Grown Launch Line of jewelry starting at $300 will become available later this month.   SEE MORE   Prices 'Not Coming Down in a Hurry' – Titan Indian jeweler has passed on higher diamond-sourcing costs to consumers, executive says.   SEE MORE   Brilliant Earth Enjoys Sales Bounce Higher revenues from fine jewelry boost second-quarter figures.   SEE MORE   Gem Diamonds Sales Slide in First Half Figure drops 4% amid decline in average price.   SEE MORE   "> Sarine Rolls Out In-House Grading Automated systems to be available at "expanded number" of manufacturers.   SEE MORE   Richemont Chairman Locks Horns with Investor Shareholders should reject proposal to add former LVMH executive to board, Johann Rupert says.   SEE MORE   Not Just a Pretty Facet: Industrial Diamonds This durable material has many applications beyond sparkling jewelry.   SEE MORE   Jewelry Investment Platform Partners with IGI for Appraisals Lab will generate reports for items on Luxus site and provide proof of authenticity.   SEE MORE   Pandora Taps Unilever Exec as Marketing Chief Mary Carmen Gasco-Buisson previously worked at Procter & Gamble and venture capital firm M13.   SEE MORE

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