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Coloured gemstone producer Fura Gems Inc. announced that its non-brokered private placement of shares worth C$5.3 million (US$4 million) has been fully subscribed and is now closed. The Shares were issued at premium of 25 percent to the company’s stock closing price on the Toronto stock exchange on December 10. As announced before, Fura intends to use the proceeds of the offering for the exploration and development of its emerald and ruby assets in Colombia and Mozambique respectively, and for general corporate purposes. Fura also announces the appointment of Gaurav Gupta to its board of directors, effective immediately. His appointment follows the resignation of Roberto Schrader from the company’s board. Fura said Gupta is an entrepreneur with over 20 years of experience in...
India’s Gem & Jewellery Export Promotion Council (GJEPC), said in a press release that it expects exports of gems and jewellery to the US to be “encouraging” over the Christmas season. It cited rising GDP growth, employment and private consumption expenditure in the US as reasons for its optimism. The GJEPC said its view was underscored by the 22.1 percent year-on-year rise in polished diamond exports to the US over the April-October 2018 period to $5.43 billion from the $4.45 billion during the same period in 2017. In addition to this, the GJEPC said, exports of gold jewellery to the US also witnessed an impressive growth of 13.13 percent year-on-year from $867.87 million during April-October 2017 to $981.85 million this year. The GJEPC said it expects gem and jewellery exports from...
ALROSA reported that it had sold $266.6 million worth of rough diamonds along with $7.4 million in polished for a total of $274 million in November. The sale brought the company’s 11-month total for 2018 to $4.1 billion in rough diamond and $90.4 million in polished sales for a total of $4.2 billion — a 3.7 percent growth in a year-on-year comparison. "Diamond sales in November were 13 percent higher by value and 25 percent higher by volume against October this year. This may be indicative of strengthening demand for low-cost small-sized rough diamonds, which has been declining over the past few months. However, it is too early to make final conclusions,” said ALROSA Deputy CEO Yury Okoemov. He added, “We still see a lot of potential for the increase in demand for rough diamonds from the...
Signet Jewelers Limited announced its third quarter results (13 weeks ended November 3) for fiscal 2019, reporting sales for the period of $1.19 billion, up 3 percent on a reported basis and up 3.3 percent on a constant currency basis from the same quarter in fiscal 2018. Total same store sales performance was 1.6 percent versus the prior year quarter, inclusive of a 75 basis points unfavourable impact due to planned shifts in timing of promotions at Zales and Peoples. E-commerce sales in the third quarter including James Allen were $125 million, up 54.9 percent on a reported basis. James Allen sales were $52.5 million in the quarter, up 13.6 percent compared to the prior year quarter, and had a positive 50 basis points impact on total company same store sales. E-commerce sales increased...
To meet US retailer needs, the Gemological Institute of America (GIA) is offering diamond grading services in under 24 hours at no additional charge from December 3, 2018 to January 4, 2019. This limited time offer applies to D-to-Z diamonds received by GIA at its Carlsbad or New York laboratories, from US locations, for Diamond Grading Report or Diamond Dossier services. GIA said all services must be ordered at the time of stone submission. Diamonds submitted with requests for add-on or follow-up services will not be eligible and will be serviced based on the standard estimated return dates posted on GIA’s website. Stones submitted for this offer cannot be received or returned on dates that GIA is closed, including weekends.
Lightbox, the De Beers lab-grown diamond brand, launched a pop-up store at The Occulus in the Westfield World Trade Center in New York on Monday. Aimed at the post-Thanksgiving Cyber Week shopping occasion, the pop-up showcases the Lightbox launch collection that is otherwise only available online. Lightbox General Manager Steve Coe and Head of Marketing Sally Morrison were joined by models from the brand's advertising campaign for a lighting ceremony on Monday. The Lightbox product line at the pop-up features pendants and stud earrings set with white, pink and pale blue lab-grown diamonds. prices range from $200 for a quarter carat to $800 for a total one-carat diamond weight, plus the cost of the settings. Visitors can try on the jewellery from the product line, while there are brand...
ALROSA announced that it had sold 105 gem-quality rough diamonds with the total weight of 1,906 carats, realising a total of $17 million, at its rough diamond auction in Israel that ran from November 4 to 22. More than 100 companies from Israel, Belgium, Hong Kong, India, the UAE, the US and Russia participated in the auction with winning bids being made by 44 companies. "The results of this year's last auction in Israel confirm the stable demand for our products in this country — the total starting price has been significantly exceeded. This year, we held six auctions in Israel and sold large rough diamonds for a total amount of $90 million," said USO ALROSA Director Evgeny Agureev.
Canadian jewellery retailer Birks Group, announced it will begin accepting cryptocurrency bitcoin cash and bitcoin core payments at eight retail outlets in Canada, including its recently-opened Patek Philippe and Graff Diamonds stores. Birks, which has been retailing fine jewellery since 1879 and operates 28 Maison Birks and Brinkhaus stores across Canada, said the move to accept bitcoin was a milestone for the company. According to Birks, retail store customers in the select eight locations can purchase well-known jewellery and watch brands such as Breitling, Rolex, Bulgari and Cartier with digital currencies. The company said it was the first luxury retailer in Canada to accept bitcoin and group CEO Jean-Christophe Bédos said that the company’s collaboration with Bitpay is a...
ALROSA announced that its polished diamond auction in Israel, that ran from November 4 to 13, realised $2.9 million from the sale of 370 carats. The auction featured colourless stones of 5 carats and up, fancy coloured diamonds over 1 carat and colour-matched batches of stones in the 0.3- to 0.99-carat size range. According to ALROSA, firms from Israel, the US, Belgium, Hong Kong, India and Russia were among the bidders. Of the diamonds sold, 314 carats were accounted for by large fancy coloured stones, with more than 40 fancy coloured polished diamonds over 5 carats with a total weight of 215 carats being sold. Pavel Vinikhin, Director of Diamonds ALROSA, the company’s cutting division, said that Israeli firms had shown a preference for large polished diamonds over 3 carats and this had...
The fourth Preferred Manufacturer of India (PMI) event organised by the All India Gem and Jewellery Domestic Council (GJC), the country’s apex body for the domestic gem & jewellery industry, kicked off in Jaipur on Monday. The business-to-business event brings together leading gem and jewellery manufacturers and jewellery retailers looking for new sources and product. GJC Chairman Nitin Khandelwal commented that the PMI event served as a benchmark for business-to-business trade shows. He added that it strengthened intra-industry connections between manufacturers and retailers throughout the country. GJC Vice Chairman N. Anantha Padmanaban said, "The PMI program is our exclusive B2B marketing platform for manufacturers. Our aim is to help participants by fulfilling their business...
De Beers Group today announced it had provisionally sold $440 million in rough diamonds in its 9th sales cycle of 2018. The figure is an aggregation of Global Sightholder Sales and Auction Sales during the period. It compares with the $466 million sold in the 9th sales cycle of 2017. De Beers also said that its actual sales figures for this year’s 8th sales cycle now stand at $482 million. De Beers CEO Bruce Cleaver said, “As the industry’s focus turns towards the key end-of-year retail selling season, rough diamond sales continued to be in line with expectation during the ninth cycle of the year. While demand for smaller, lower quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after...