Rapaport TradeWire November 11, 2022

November 11, 2022

Rapaport Market Brief - November 10, 2022 Polished trading cautious as Indian suppliers return from Diwali break. US driving demand. Focus on memo as jewelers limit inventory during economic uncertainty. Rising expectations for the season; NRF projects Nov.-Dec. retail sales +6% to +8%. Consolidation continues as JBT reports number of jewelry businesses -2% to 23,702 in 3Q. Brands gaining market share in India; Titan Company 2Q revenue +22% to $1.1B, profit +30% to $101M. Fewer De Beers goods on secondary rough market. Blue Nile offering lab-grown bridal jewelry. GemGenève signals optimism in high end. Christie's Geneva sells $58M (87% by lot), with pear, 18.18 ct., fancy-vivid-pink diamond going for $29M ($1.6M/ct.). Watch Video

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RAPNET DIAMOND INDEX (RAPI™) 0.30 ct 0.23% -1.23% -6.34% 0.50 ct -0.45% -3.18% -7.38% 1.00 ct -0.70% -3.18% -1.16% 3.00 ct -0.43% -1.71% 9.67%

Market Reports   United States: High end doing well, with steady demand for D to F colors…   Belgium: Large fancy shapes selling well and difficult to find…   Israel: Rough sector cautious. Few De Beers goods available on the secondary market…   India: Polished production levels low but will likely return to normal in second half of November…   Hong Kong: Demand gradually improving from both local and mainland retailers but weaker than in previous years…

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Podcast: Overoptimistic Retail? Early projections for the US holiday season are upbeat, but that sentiment hasn't filtered through to the rest of the diamond market, Rapaport's editorial team observes. Listen Here

Diamond Trends with Avi Krawitz: Dealing with Uncertainty The industry enters the holiday season with a mixed outlook. Trading has slowed amid economic challenges, but there are pockets of strength among jewelry retailers. In webinars on November 16 and 17, Rapaport Senior Analyst Avi Krawitz will examine the trends shaping the sector in the final months of the year and outline the state of the market as it heads into 2023. Register Here

Positive Mood at GemGenève Fair By David Brough The second edition of the Swiss show this year enjoyed a jump in traffic, which bodes well for the top-tier gemstone and jewelry market. Read More

Top Stories of the Week Kimberley Process Rejects Efforts to Put Russia on Agenda Organization received differing views on whether the matter was relevant for discussion during recent plenary. See More Signet Expands Blue Nile's Lab-Grown Bridal Range Website now listing synthetic stones larger than 4 carats. See More Holiday Sales to Jump as Shoppers Weather Challenges Figure to reach up to $960.4 billion, according to NRF. See More UAE to Be 2024 Kimberley Process Chair Country will take over from Zimbabwe. See More 18ct. Pink Diamond Rakes In $29M at Christie's Sale price was just above lower end of estimate. See More De Beers Blue Diamond Fails to Sell at Sotheby's Stone was estimated to fetch up to $15 million in Geneva. See More Lightbox Brings On New CEO Antoine Borde was previously a global e-commerce executive at Danone Group. See More US Jewelry Industry Closure Rate Increases Some 152 businesses shut in third quarter, according to JBT. See More Pandora Stands by Forecast Amid Recession Fears Danish retailer believes organic growth will be around 6% this year. See More Pomellato Acquires Minority Stake in Italian Goldsmith Kering-owned brand plans to use Costanzo & Rizzetto to improve its manufacturing capabilities. See More Petra Halts Williamson Production Following Flood Mining suspended pending investigation into tailings storage breach. See More Mountain Province Slips into the Red Weakened Canadian dollar weighs on earnings despite boost in revenue. See More De Beers to Launch New Melee Tester in Early 2023 Machine will screen stones as small as 0.001 carats. See More Indian Festive Season Buoys Titan Profit Figure up 30% in second fiscal quarter. See More

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