Rapaport TradeWire February 9, 2023

February 9, 2023

Rapaport Market Comment - February 9, 2023 Diamond market segmented. Smaller goods stable; larger stones above 0.50 ct. weak amid price uncertainty. US demand cautious due to sluggish economic outlook, but dealers see steady orders at Centurion show in Arizona. NRF expects jewelry to top list of Valentine's Day gifts but predicts lower sales than last year. China recovery boosting trader sentiment. Chinese luxury market improving after Covid-19 lockdowns led to 10%-15% decline in local jewelry segment for 2022, Bain reports. Titan Company FY3Q sales +16% to $1.4B, profit -10% to $123M. Rough trading slow; manufacturers keeping production low due to high polished inventory. Sotheby's brings in $13M at Hong Kong sale. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 1.18% 3.70% -6.31% 0.50 ct 0.31% 0.00% -14.53% 1.00 ct -0.11% -0.92% -18.48% 3.00 ct -0.20% -0.33% -10.74%

Market Reports   United States: Retail jewelers buying, but not in the significant quantities typical of January-February…   Belgium: Steady demand from European luxury houses following robust holiday season for high-end retail…   Israel: Fancy shapes with excellent proportions moving well…   India: Chinese recovery driving improvement in 0.30 to 0.69 ct., D-K, VS-I1, 3X diamonds…   Hong Kong: Sellers holding prices firm after recent declines…

View Full Report

Podcast: The Importance of Tracking Your Diamond Traceability has become a central issue in the diamond and jewelry industry, with the Russia-Ukraine conflict accelerating demand for source-verification programs. Listen Here

Webinar: What's Shaping the Market? In our quarterly webinar series, Rapaport Senior Analyst Avi Krawitz will examine the main forces affecting the diamond market in 2023 and outline the state of the industry at the start of the year. The webinar will take place on Wednesday, February 15, at 10 a.m. Eastern Time and again on Thursday, February 16, at 3:30 p.m. India Time. Register Here

For Love of Lapis Lazuli By Cynthia Unninayar for Jewelry Connoisseur This deep-blue stone has been gracing sculptures, mosaics, paintings and personal adornments for millennia.  Read More

Press Release: Diamond Trade Sees Cautious Start to 2023 1-carat RAPI down 0.9% in January. See More Exhibitors Upbeat at Centurion Show Lab-grown diamonds, sustainability were hot topics at Phoenix and Tucson fairs. See More US Retail: Performance Down for the Holidays Is inflation hitting the industry, or is the market experiencing a correction following a blockbuster 2021? See More Super Bowl Bling: How to Capitalize on the Football Fanfare The most important game of the year happens in February, and the winners take home the ultimate jewelry prize: a championship ring. See More FTC Extends Deadline for 'Green Guides' Feedback Jewelers Vigilance Committee (JVC) now accepting submissions until March 10. See More Jewelry One of Stronger Categories in Ailing China Luxury Market Segment contracted 10% to 15%, while fashion and watches had much steeper drops. See More Yellows Lead Fancy-Color Price Index Rise in 2022 Pinks and blues also see increases. See More Tiffany Creative Director Exits Company Ruba Abu-Nimah started with the luxury jeweler in March 2021 following its takeover by LVMH. See More Pandora Revenue Up as Price Hikes Pay Off Select increases across its product portfolio drove 9% growth in fourth quarter. See More Bonhams Auction House Goes on the Block for $1B London-based private-equity owner Epiris purchased company in 2018. See More Hong Kong Retail Sales Slip in December Revenue from hard luxury down 3% for the month. See More Strong Holiday Season Buoys Sales at Titan Revenue up 16% year on year in fiscal quarter that ended December 31. See More Color Grabs Spotlight at Sotheby's Auction Emeralds were top sellers, as were pink and yellow diamonds. See More Indian Jeweler Broadens Reach to 7 New Countries Malabar Gold & Diamonds will open showrooms in UK, Australia, Canada, Turkey, Egypt, Bangladesh and South Africa. See More

CONTACT US

© Copyright 2023 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