Rapaport TradeWire November 16, 2023

November 16, 2023

Rapaport Market Comment - November 16, 2023 Sales improving and prices stable, with all eyes on holiday season. Steady US memo demand as retailers prepare for Christmas. High end better than mid-market. Richemont 1H jewelry sales (Cartier, Van Cleef & Arpels, and Buccellati) +10% to $7.4B. Brilliant Earth 3Q sales +2.5% to $114M; company lowers FY outlook amid slowdown in bridal segment. Indian manufacturers' inventories falling as Diwali shutdown begins. Kimberley Process plenary ends in deadlock over Russia-Ukraine war. Rapaport warns G7 leaders of Russian sanctions loophole and introduces US Diamond Protocol. Lucara shaves $40M off 2023 sales forecast following split from HB. GIA's Anna Martin retires. Designer Henry Dunay dies at 88. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.27% -0.04% -4.46% 0.50 ct 0.32% 0.83% -28.52% 1.00 ct -0.05% 0.27% -23.09% 3.00 ct 0.03% 0.26% -12.79%

Market Reports   United States: Natural diamonds regaining market share from synthetics…   Belgium: Pears, ovals and marquises selling well…   Israel: October polished exports down 1.7% at $425.2 million…   India: Industry shifts focus to retail during Indian holiday and wedding season, hoping steady demand for small diamonds will continue…   Hong Kong: Singles' Day (11/11) saw steady purchases of pearls and gold, with some interest in lower-budget diamonds such as 0.30 to 0.50 ct., F-I, VVS-VS categories…

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Retailers Pushing for Smaller Lab-Grown Detectors – De Beers By Joshua Freedman LinkedIn Live addresses latest trends in diamond screening. Watch Here

Podcast: Origins in Focus with Ming Lampson In this episode, the London-based designer talks us through her latest collection, which explores the genesis of ornamentation. Listen Here

The Weekly Gems: News and Videos from Around the Web A Grand Tour of Van Cleef's new collection, shifts in the Chinese luxury market, and Diwali shoppers' enthusiasm for lab-grown are part of this week's roundup. Read More

Martin Rapaport's Open Letter on Russian Sanctions Rapaport warns G7 leaders of loophole in current rules. See More US Retail Sales Fall for First Time in Seven Months Revenue slips 0.1% in October, according to Census Bureau. See More EU Submits Plans for Sanctions on Russian Diamonds Proposal requires backing from all 27 member states. See More $12M Yellow-Diamond Earrings to Hit Christie's Auction Block Pair containing oval mixed-cut stones weighing 12.20 and 11.96 carats will lead New York Magnificent Jewels sale. See More Early Discounts Drive October Online Holiday Spending Sales for the month up 6% year on year, according to Adobe Analytics. See More Israel's Sarine Says It's Business (Almost) as Usual The producer of diamond-manufacturing equipment has been navigating the challenges of the ongoing war — but its CEO says the real difficulty is the slow market. See More Asia Rebound Boosts Richemont Jewelry Sales Revenue up 10% year on year in first half. See More Lucara Slashes Outlook Following Severed HB Deal Miner cites market slowdown as additional reason for lower 2023 sales forecast. See More Pandora Raises Full-Year Forecast Amid 'Healthy' Sales Revenue up 6% in third quarter. See More Brilliant Earth Lowers Outlook Amid Economic Challenges Recovery in bridal demand has been slower than expected, jeweler says. See More Lightbox Ventures into First Design Collaborations Lab-grown provider teams up with Roseate and The Future Rocks. See More Weak Market Sends Mountain Province into Red Miner sold some inventory to joint-venture partner De Beers and is holding remainder in stock. See More GIA Executive Anna Martin Set to Retire Senior vice president of institute and industry relations will leave in December after nine years. See More Pioneering Jeweler Henry Paul Dunay Dies at 88 Designer created "Sabi" finish, a Japanese-inspired gold technique. See More Colored Stones Steal Spotlight at AGTA Opal ring and set of Paraiba tourmalines take Best of Show honors in Spectrum and Cutting Edge contests. See More

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