Rapaport TradeWire January 26, 2023

January 26, 2023

Rapaport Market Comment - January 26, 2023 Polished market selective as jewelers start to replenish inventory they sold during holiday season. Buyers lack urgency. Dealers uncertain amid slow demand and mixed price trends. Midstream inventory slightly down as polished production remains low. Rough supply has dropped due to Alrosa restrictions. Mountain Province 2022 sales +25% to $297M, average price +49% to $112/ct. India's 2022 polished exports -3% to $22.9B, rough imports +4% to $18.5B. Luxury jewelers upbeat and expect China recovery to drive growth. Swatch 2022 jewelry and watch sales +2% to $7.8B. Birks Nov.-Dec. holiday same-store sales -3.2%. RJC appoints journalist and curator Melanie Grant as executive director. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 1.30% 3.40% -5.58% 0.50 ct 0.20% 0.22% -13.23% 1.00 ct 0.26% -0.47% -16.18% 3.00 ct 0.16% -0.47% -8.98%

Market Reports   United States: Elongated ovals, 1 to 1.50 ct., F-H, SIs are hot, driven by retailers replenishing holiday inventory…   Belgium: Small and mid-size dealers that supply commercial qualities note quiet trading…   Israel: Buyers struggling to find goods they need…   India: Inventory has declined and there are shortages in certain in-demand categories, such as elongated fancies…   Hong Kong: Tourist traffic from mainland improving since Covid-19 restrictions were lifted; Macau busy during Chinese New Year…

View Full Report

Podcast: Selling Diamonds on Instagram Icerock Diamonds owner Sam Karmiel chats with Rapaport's Avi Krawitz about his journey in the industry and how he started using Instagram to engage with customers and close sales. Listen Here

New York Winter Show Combines Beauty with History By Anthony DeMarco The arts and antiques fair displayed a diverse array of important and quirky jewels. Read More

Vicenzaoro Show Signals Strong Outlook for Luxury By David Brough Organizers and exhibitors expressed optimism for the market in 2023 following steady trading and buoyant sentiment at the Italian jewelry fair. Read More

RJC Names Melanie Grant as Executive Director Writer and curator takes helm at sustainability standards organization. See More Birks Endures Tough Holiday Season Revenue slips amid slow November sales and uncertain economic situation. See More Valentine's Day Jewelry Spending to Exceed $5.5B – NRF Category will be the biggest by value, ahead of flowers and candy. See More Swatch Group Upbeat for 2023 Amid China Recovery Mainland and Hong Kong have seen sales pick up in January. See More Higher Average Price Buoys Mountain Province Revenue rose 25% last year. See More Luxury Strength Drives Growth in Swiss Watch Trade Exports rose in 2022 as US demand outweighed China slowdown. See More India's 2022 Polished Exports Drop Full-year shipments down 3% amid second-half slowdown. See More Strong Holiday Sales Spur Record Revenue at Michael Hill Spending shifted away from e-commerce toward physical stores. See More Diamonds Do Good Elects New Board Former Alrosa USA president Rebecca Foerster returns after stepping down last year. See More John Hardy Names Frédéric Levy as CEO Former footwear executive is jewelry brand's third leader since 2014. See More "> Herco Owner Retires, Sells Business to Quality Gold Jewelry wholesaler "is now in good hands," says Reuven Itelman. See More

CONTACT US

© Copyright 2022 by Rapaport USA Inc. All Rights Reserved. Rapaport®, TradeWire®, RapNet®, Index® and JNS® Jewelry News Service are registered trademarks.

Rapaport USA 133 East Warm Springs Road Suite 100 Las Vegas Nevada 89119 USA You received this email because you are subscribed to Rapaport TradeWire® from Rapaport USA. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails