Rapaport TradeWire January 13, 2023

January 13, 2023

Rapaport Market Comment - January 12, 2023 Diamond trade uncertain amid slow demand. Polished production low as cutters seek to reduce inventory of less-popular goods. All eyes on next week's De Beers sight as rough prices decline at auctions. Macy's warns that US consumers will be under pressure in 2023 after disappointing holiday sales. Independents say season salvaged by last-minute rush. China reawakening after government scraps quarantine for travelers ahead of lunar festival. Busy Diwali pushes Titan's FY3Q jewelry sales +11%. Sarine agrees to buy majority stake in GCAL. Charles Stanley retires as president of De Beers brands in North America. Signet promotes Jamie Singleton to president and chief consumer officer. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.74% 1.67% -7.35% 0.50 ct 0.14% -0.51% -11.37% 1.00 ct -0.08% -1.23% -11.68% 3.00 ct -0.08% -1.25% -3.94%

Market Reports   United States: High end robust, with good demand from jewelry brands…   Belgium: Collection goods below 1 ct. doing well in D-G, IF-VVS…   Israel: Expectations low for first half of 2023 as US and China remain uncertain…   India: Polished production below capacity but starting to rise amid expectations of greater 1Q orders…   Hong Kong: China showing signs of upturn following Covid-19 wave. Focus on gold jewelry ahead of January 22 Chinese New Year…

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Six Stories That Will Shape the Diamond Market in 2023 By Avi Krawitz It may take a few months before sentiment improves and buoyancy returns to the trade. Read More

Podcast: Tech-Inspired Diamond Stories Technology will play an important role in the trade this year as jewelers try out new design tools and narrative strategies, says Rapaport Acting Editor Rachael Taylor.     Listen Here

Three Jewelry Trends That Will Dominate 2023 By Anthony DeMarco Consumers are seeking a combination of age-old designs and the latest fashion styles. Read More

Sarine to Buy Majority Stake in Grading Lab GCAL Parties sign nonbinding agreement, plan to reach final deal in coming months. See More De Beers Exec Charles Stanley to Retire North America brand chief played key role in developing Forevermark. See More Signet Jewelers Reshuffles Leadership Team Jamie Singleton becomes group president and chief consumer officer. See More Diamonds, Platinum Shine at Golden Globes De Beers and Tiffany among prominent brands on red carpet. See More LVMH Jewelry Division Takes Over Tiffany Management US brand has been reporting to group CEO Bernard Arnault since 2021 takeover. See More Macy's Tempers Forecast Amid Slow Holiday Season Lull in middle of shopping period was deeper than expected, company says. See More Cyber Week Drives Bump in US Online Holiday Sales While global spending remained flat, America gained 5%, according to Salesforce. See More India Seeks 0% Import Duty on Lab-Grown Seeds GJEPC asks government for clarity on how to categorize the materials. See More India's Titan Enjoys Strong Diwali Sales Revenue up 12% in third fiscal quarter. See More GSI Names New Head of Operations Monika Biernacka was previously sales director at International Gemological Institute (IGI). See More

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