Rapaport TradeWire February 15, 2024

February 15, 2024

Rapaport Market Comment - February 15, 2024 Rounds doing well, with excellent demand for 0.08 to 0.14 ct. goods. Decent seasonal sales of heart shapes. OFAC determines that 1 ct. and larger Russian-source diamonds even if cut outside of Russia cannot be imported into the US after Mar. 1. Trade urged to support Rapaport US Diamond Protocol at rapaport.com/sanctions. De Beers 4Q production -3% YOY to 7.9M cts., sales -63% to 2.7M cts. India Jan. rough imports +43% YOY to $1.2B following Nov. and Dec. declines; Jan. polished exports -20% to $1.2B. Botswana allocates $65M to buy 24% of HB Antwerp. Kering reports double-digit 4Q sales growth at jewelers Boucheron, Pomellato, DoDo and Qeelin. Watch Video

RAPNET DIAMOND INDEX (RAPI™)   Weekly Monthly Y2Y 0.30 ct 0.36% 0.56% -8.22% 0.50 ct 0.80% 1.81% -23.32% 1.00 ct 0.37% 0.61% -18.60% 3.00 ct 0.33% 0.60% -10.64%

Market Reports   United States: High-end brands cutting back on melee purchases…   Belgium: Buyers struggling to find nice goods…   Israel: Sales have improved for in-demand items (oversizes, no fluorescence, no black center)…   India: No one wants to accumulate inventory, as market direction is uncertain…   Hong Kong: Low expectations for diamond sales at upcoming Hong Kong International Jewellery Show.

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A Colorful Life: Leibish Shares the Many Hues of His 40-Year Diamond Career By Leah Meirovich Leibish Polnauer discusses his professional journey with Rapaport's editorial team, from a fluke that helped him launch his business to spending two years sourcing yellow stones for a Jacob & Co. watch. Read More

It's Time to Refresh the Jewelry Retail Calendar By Leah Meirovich There's a wide array of holidays beyond the usual US stalwarts, and store owners should be tapping into that market. Read More

Podcast: When Jewelry Becomes Art Michael Robinson of David Michael Jewels recounts the artistic career that took him from designing mainstream creations to museum-worthy pieces. Listen Here

US Lays Out Guidelines for Russian Diamond Sanctions Restrictions on stones weighing 1 carat or more to begin March 1. See More Botswana Assigns $65M for Stake in Belgian Manufacturer Country will buy 24% of HB Antwerp and will see profit from sale of polished. See More Jewelry Strong for Kering in Challenging Economy Segment saw double-digit growth in fourth quarter, even as other categories fell. See More Robust Holiday Demand Lifts Pandora Revenue Expansion of store network and lab-grown line also contributed to fourth-quarter hike. See More Asian Star Sales Slip Amid Weak Diamond Demand Revenue from segment down 17% year on year in third fiscal quarter. See More Strong Economy Buoys Centurion Jewelry Show Designer pieces featuring colored gems do well at annual trade fair, as do contemporary bridal items. See More Why Not All Lab-Grown Is Sustainable, and This Week's Other News Members of the editorial team pick their favorite pieces from the internet. See More Titan Gets Boost from Solid Holiday Season Sales up 22% in third fiscal quarter. See More

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