Registration for the 2019 congress of CIBJO, the World Jewellery Confederation, slated to run from November 18 to 20 in Bahrain, is now open. A dedicated website includes the congress program, various venues and important travel information along with news and background information on Bahrain. CIBJO Congresses serve as the gathering place for the World Jewellery Confederation's Assembly of Delegates, and also are the venue for the annual meetings of CIBJO's sectoral commissions, where amendments can be introduced to the organisation's definitive directories of international industry standards for diamonds, coloured stones, pearls, gem labs, precious metals coral and responsible sourcing, known as the Blue Books. The CIBJO Congress is also where the programme of World Jewellery...
De Beers today reported that it had provisionally sold $415 million worth of rough in its fourth sales cycle of this year. This is 33.5 percent below the $554 million actually sold in the fourth sales cycle of 2018. De Beers CEO Bruce Cleaver said, "Cycle Four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period.” The company also said that the actual sales figures for Cycle Three this year now stand at $581 million.
Gemfields announced it had realised revenue of $22.4 million at its auction of higher quality emeralds held in Singapore from May 14 to 17. The company said the price translates to an average $71.85 per carat — an all time record for Gemfields auctions. The top lot sold also set an all-time per-carat price record. The emeralds were from the Kagem mine in Zambia, in which Gemfileds holds a 75 percent stake, with the Zambian government holding the remainder. The 32 auctions of the rough emeralds from the mine that have been held since 2009 have generated an aggregate $589 million. Gemfields said 45 companies participated in the auction, which saw 28 of the 35 lots on offer being sold. In terms of carats, the company said the auction saw 72 percent of the goods offered being sold. Gemfields...
Luxury group Richemont, which owns the Cartier and Van Cleef & Arpels jewellery brands along with the IWC Schaffhausen, Jaeger-LeCoultre and Piaget watch brands among others, reported that its net profit for fiscal 2018-19 more than doubled to €2.79 billion ($3.12 billion), including an extraordinary gain of €1.38 billion ($1.5 billion) linked to the Yoox Net-A-Porter (YNAP) acquisition. Including its recently acquired online distribution systems like YNAP and Watchfinder, sales were 27 percent up over the previous year at €13.99 billion ($15.64 billion). However, excluding online distribution — which have shown an operating loss — sales were just 8 percent higher. The group saw double-digit growth in mainland China and the US. However, an otherwise shining performance was dulled by...
ALROSA reported that revenue for the first quarter of 2019 had declined 27 percent to RUB 70 billion ($1.1 billion) from the RUB 96 billion ($1.5 billion) in the first quarter of 2018, while net earnings for the period fell 27 percent to RUB 24.1 billion ($373 million). This was mainly due to only 10.6 million carats of rough diamonds being sold during the period — a 21 percent drop from the 13.4 million carats sold in Q1 2018 — and a higher share of small-size diamonds being sold. ALROSA Deputy CEO Alexey Philippovskiy commented, "Following a sizeable de-stocking of small-size rough diamonds by cutters and polishers in the second half of 2018, we saw an improved demand for this product early in 2019.” He added, “Based on the company's performance in 2018, the board recommended 2018...
Platinum is the precious metal that continues to have the highest perceived value among consumers and demand growth, building on an established bridal jewellery base, continues to be driven by young consumers, men's jewellery and female self-purchase, according to the results of the Platinum Guild International (PGI) 2019 Platinum Jewellery Business Review (PJBR). While Japan continues to have the highest per capita consumption of platinum jewellery with a sixth year of consecutive one percent growth, India is the fastest-growing market, with PGI partners reporter a 26 percent growth in 2018 and PGI India projecting growth of between 15 and 20 percent in 2019. The US market has shown a 11 percent growth in 2018, driven by a strong bridal segment as well as increasing self-purchases by...
Petra Diamonds announced that it had sold the 424.89-carat Legacy of the Cullinan Diamond Mine rough diamond to a partnership between the Stargems Group and Choron Diamonds, both diamond Antwerp-headquartered industry players with global footprints, for just under $15 million. The diamond is a D colour, Type IIa gem mined from the Cullinan mine’s C-Cut and is one of many famous diamonds to have originated from this historic South African mine. Petra CEO Richard Duffy commented, “This is a significant sale for Petra Diamonds and an endorsement of the quality not only of the Legacy diamond, but also the Cullinan ore body itself, which is known for its stones.” Stardoms Group Chairman Shailesh Javeri observed, “The Cullinan diamond mine has produced some of the most iconic diamonds the...
ALROSA reported that it had sold $1.3 billion in rough diamonds along with $19.2 million in polished in the January-April period. Sales of rough in April alone amounted to $315.8 million, while polished accounted for $2.9 million in sales during the month. ALROSA United Sales Organisation Director Evgeny Agureev commented that demand from the cutting and polishing industry had been weaker in the first months of 2019. He attributed this to the industry mid-stream in India experiencing difficulties accessing affordable financing along with with what he termed was ‘diamond stock normalisation’. The cyclic nature of the market too played a part in weakening demand, he added. “The company maintains a moderately positive outlook for the foreseeable future, expecting the market situation to...
The Tata industrial group’s Titan Company, which owns the Tanishq jewellery brand along with a majority stake in online jewellery retailer CaratLane, reported standalone net profit of ₹294.6 crore ($42 million) for the fourth quarter of fiscal 2018-19 which ended March 31 last. This represents a 4.4 percent rise in a year-on-year comparison with the fourth quarter of the previous year. Titan Chief Financial Officer S. Subramaniam was quoted as saying the company was targeting a 20 percent growth rate in the coming year for its overall business, which includes watches and eyewear. He added that he felt the target was achievable given that it had met its self-imposed targets in the just-ended fiscal year, which was a tough one for the jewellery industry as a whole. He attributed the company...