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Michaela

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12. 10. 2007

grofik

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23. 10. 2006

#62 - 20. 2. 2009, 16:08

Míša prišiel,
nehnevaj sa nemal som chuť na serioznu 🙂 odpoveď,len sem na p....y 😁 trochu porelaxovať.😈

Neboj odpoviem.😉

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Michaela

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12. 10. 2007

Dracek

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6. 11. 2008

#64 - 20. 2. 2009, 19:22

Dnešní tisk...
Největší světový producent diamantů, společnost De Beers z Jihoafrické republiky, si kvůli světové ekonomické krizi musel půjčit od svých akcionářů půl miliardy dolarů. Podnik s tím uvedl, že prodej diamantů na konci minulého roku výrazně ochabl.

http://digi.ceskearchivy.cz/

Od té doby co jsem přestal být namyšlený, tak jsem už bez chyby... ;)

grofik

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#65 - 20. 2. 2009, 21:04

Čo už hádam nebudú horší ako ine korporácie.😆 😁 🙄

Prečo nestiahnúť peniaze pokiaľ je od koho.😉

Múdry sa teší objaveniu pravdy, hlupák falošnosti.

grofik

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23. 10. 2006

#66 - 27. 2. 2009, 08:05

Rapaport TradeWire - Friday, February 27, 2009
News: Debswana, the world’s largest diamond producer, to shut operations until April 15 and suspend production of two mines through 2009. We estimate the move will reduce their annual production by about 20% or by 6-7 mil. cts. De Beers to borrow $500 mil. from shareholders, 2008 rough sales flat at $5.9 bil. even though they increased prices by 14%. 2008 profits at $90 million. Gold passes $1,000/oz for first time since March 2008. U.S. Jan. jewelry price index +5%. German and Indian jewelry shows better than expected. Zale 2Q sales -18% to $679 mil. with loss of $24 mil. and plans to close 115 stores. Birks & Mayors 3Q sales -28% to $88 mil. with $42.7 mil. loss. Bidz.com 4Q jewelry sales -44% to $35 mil. profits -64% to $3 mil. J. C. Penney 4Q sales -10% to $5.8 bil. same store sales -11% and profits -51% to $211 mil. with jewelry ranking as weakest category. Macao 4Q watch, jewelry sales +22% to $138 mil. Fortunoff liquidates. Finlay to exit department stores and close 40 specialty boutiques.

ANNOUNCEMENTS:

Martin Rapaport - Special Presentation
"State of the Diamond Industry"
BASELWORLD Watch and Jewellery Show

When: Monday, March 30
Presentation 1: 8:00-10:00
Presentation 2: 14:00-16:00
Where: Basel Congress Center, Montreal Hall

To reserve a space, email conference@diamonds.net

Rapaport Fair Trade Jewelry Conference
"Sourcing and Marketing Fair Trade Jewelry"
BASELWORLD Watch and Jewellery Show

When: Monday March 30,10:30-13:30
Where: Montreal Hall, Basel Congress Center

To reserve a space, email fairtrade@diamonds.net

Rapaport - Hong Kong Jewellery Fair
March 4, 2009 - March 8, 2009
Booth: Hall 5, Booth 5M41

Free RapNet Trading Service for Buyers at the Show

Contact: Ofira Guttman-Berrebi ofira@diamonds.net +852-9222-7001

Rapaport Pawnshop Tender in New York
By Appointment Only
March 16–19, 2009

Approximately 30,000 carats, Rounds and Fancies, -2.5 sieve to 1ct+
Large selection of melee from promotional to fine
qualities. Excellent opportunity for diamond and jewelry
manufacturers specializing in inexpensive diamonds.
Contact Myles Schakler at myles@diamonds.net

or +1-212-354-9100 Ext. 2570

RETAIL QUOTE:

“These are unprecedented economic times, and it’s unfortunate that after all these years, a New York icon like Fortunoff is going to close and people are going to lose their jobs. Fortunoff has been a destination for fine jewelry, home goods and gifts at incredible value, and the going-out-of-business sale will offer a final opportunity to purchase this quality merchandise at even greater discounts.”

---Harvey M. Yellen

Chairman of Great American Group

WORLD NEWS:

De Beers Rough Diamond Prices +14% in 2008

De Beers rough diamond prices rose 14 percent on average in 2008, but the increase was mainly due to the boom period in the first fiscal half. Starting in September, the market turned south and demand for rough plummeted. Diamond Trading Company (DTC) sights in the fourth quarter fell 40 percent to approximately $1 billion. De Beers ended 2008 with its rough diamond sales flat at $5.9 billion and total sales up less than 1 percent to $6.9 billion. The company reported profits of $90 million after reporting a loss of $521 million for 2007. De Beers will take a shareholder loan of $500 million for 2009. De Beers rough production fell 6 percent to 48.1 million carats.

U.S. Jewelry CPI +5% in Jan.

The consumer price index (CPI) for jewelry in the U.S for the month of January rose 5 percent year on year to 153.46 points. The rate — based upon a reference of average prices in 1986 set at 100 points — was 3.7 points lower than in December 2008. For the watch and jewelry categories combined, the index for January increased 5 percent to 146.34 points, 3.4 points lower than Decembers reading.

U.S. Jan. Online Jewelry Sales -15%

Online jewelry sales in the U.S. fell 15 percent in January, according to comScores latest figures. Of 14 sales categories tracked, jewelry was the fourth worst performer. Overall, online spending grew 2 percent during the month to $10.9 billion. The Internet ecommerce metrics company found that more than eight in 10 consumers were cutting back spending due to concerns about the economy, citing job security as the largest factor.

Macao 2008 Retail Sales for the Jewelry Category +64%

Macao reported that the value of its retail sales during the fourth quarter of 2008 rose 21 percent to $634.8 million. Sales of jewelry, watches and clocks accounted for the largest share with $137.7 million, or 22 percent of total retail sales. Full-year retail sales across all sectors grew 34 percent to $2.4 billion, and sales of jewelry, watches and clocks increased 64 percent for the full year.

Weak Global Demand Threatens Labor Cutbacks in Thailand

More than 100,000 workers employed in Thailands diamond industry and other skilled sectors will lose their jobs as global demand falls, according to the local office of the International Diamond Manufacturers Association (IDMA). The Thai Gem & Jewellery Manufacturers Association (TGJMA) added that it is facing a shortage of high-quality rough, which is necessary to compete in the global marketplace, and asked the government to assist in increasing supply channels.

Bain Expects Luxury Goods Sales to Drop by Single Digits in 2009

Revenues in the luxury-goods industry may fall by 3 to 7 percent this year according to consulting firm Bain. This estimate may even prove to be conservative, as the economic slowdown in the U.S. grows deeper each week. Diamonds, a byword for luxury, are being hit particularly hard as consumers resist the lure of sparkle and forgo fancy engagement rings for now.

KPCS Announces Namibian Intersession Meeting in June

The Kimberly Process Certification Scheme will hold its intersession meeting from June 23 to 25, 2009, in Windhoek, Namibia. The current agenda is comprised primarily of committee work and will not include formal speakers or presentations.

Reserve Bank Proposal Could Tap Polished Inventories to Improve Liquidity

To ease the liquidity problem in Indias diamond industry, the task force created by the Reserve Bank of India (RBI) may ask banks to finance diamond manufacturers, especially small and medium ones, against their stock of polished diamonds. Diamond industry leaders have been pushing for government intervention to help ease the crisis across the rough and polished marketplace.

Rapaport Broadcast News

What trends are emerging on the laboratory front? The International Gemological Institute, or IGI, is experiencing some interesting trends as the industry deals with the downturn. But even with poor retail performance, diamonds and platinum diamond jewelry were all the rage on the red carpet during the 81st Academy Awards.
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25477

DIAMOND STATS:

Botswanas Diamond Exports Plunge

Botswana’s diamond exports in October fell 53 percent to $103.1 million, and November exports declined 73 percent to $46.6 million. The weaker marketplace for diamonds and other commodities caused ratings agency Standard and Poor’s (S&P) to revise its outlook on Botswana from stable to negative. Botswana’s diamond imports increased significantly in 2008 due to the development of the country’s beneficiation industry. Diamond imports in November rose 90 percent to $28.5 million. Imports for the first 11 months of the year increased by 259 percent to $342.6 million.

WHOLESALE & RETAIL:

Zale 2Q Rev. -18%, Reports Loss of $24M

Zales second fiscal quarter sales fell 18 percent to $679.4 million; the percentage drop was the same for same-store sales. Cost of sales decreased 9 percent to $381 million. Zale reported a loss of $23.6 million, or a 74-cent loss per share, compared with profits of $61 million in the second fiscal quarter of 2008. As consumers continue to cut spending, Zale plans further belt-tightening and intends to close 115 underperforming stores as leases expire during the year.

Birks & Mayors 3Q Sales -28%

Retailer Birks & Mayors reported that its net sales fell 28 percent to $88.1 million for the third quarter of fiscal year 2009, which ended December 27, 2008, and comparable store sales for the period decreased 23 percent. Translating Canadian sales into U.S. dollars accounted for $9.3 million of the drop in net revenues. Birks & Mayors results showed a net loss of $42.7 million, down from profits of $12.7 million one year earlier.

JCPenney 4Q Sales -10%, Jewelry Performs Worst of All

J. C. Penney Companys sales in the fourth quarter fell 10 percent to $5.8 billion, and its same-store sales dropped 11 percent. Profits decreased 51 percent to $211 million. JCPenney stated that its strongest merchandise categories for the quarter were womens apparel and family shoes, while the weakest category of all was fine jewelry. For fiscal year 2008, JCPenney reported that its sales were down 7 percent to $18.5 million and profits declined 49 percent to $572 million. Jewelry performed poorly all year long, cited as a weak category in each of JCPenneys 2008 quarterly reports.

Saks Posts $99M Loss in 4Q, Sales -15%

Saks reported a net loss of $98.8 million in the fourth fiscal quarter ending January 31, 2009, compared with profits of $39.5 million one year ago. Fourth-quarter sales fell 15 percent to $835.5 million, and same store sales decreased by the same percentage. Jewelry was among Saks weakest categories for the quarter. The retailer posted a full-year loss of $154.9 million, compared with profits of $47.5 million in 2007. Full-year sales declined 6 percent to $3 billion.

Macys 4Q Sales -8%, Profits -59%

Macys reported that its fourth-quarter sales, for the period ending January 31, 2009, fell 8 percent to $7.9 billion, and same-store sales declined 7 percent. Net income for the period dropped 59 percent to $310 million. For the full fiscal year, sales were down 5 percent to $24.9 billion, and same-store sales also decreased 5 percent.

Nordstrom 4Q Net Earnings -68%

Nordstrom reported that net earnings slumped 68 percent to $68 million in its fourth fiscal quarter. The luxury retailer reported that sales decreased 8 percent to $2.3 billion in the three months ending January 31, 2009, with same-store sales sinking 13 percent. For the full fiscal year, Nordstroms net earnings fell 44 percent to $401 million. Total sales for the year ending January 31 dropped 6 percent to $8.3 billion, while same-store sales were down 9 percent.

Swank 4Q Sales -19%, Profits -25%

Swank reported that its fourth-quarter sales fell 19 percent to $34.8 million. Net income declined 25 percent to $2.6 million for the period, which ended December 31, 2008. This includes pretax income of $2 million associated with the settlement of a coverage dispute with one of Swanks insurance companies. For the fiscal year, sales dropped 11 percent to $114 million, and net income decreased 58 percent to $2.1 million.

Economic Collapse Clobbers Sothebys 4Q Results

Sothebys revenues fell 52 percent to $166.2 million for the fourth quarter that ended December 31, 2008. The auction house reported an operating loss of $696,000, compared with profits of almost $142 million one year ago. The companys net loss was $8.5 million, compared with $102.4 million a year ago. Full-year revenues decreased 25 percent to $691.6 million, operating income sank 73 percent to $74.4 million, and net income slumped 87 percent to $28.3 million. In 2009, Sothebys expects to record approximately $9 million in restructuring expenses for additional layoffs and lease exits.

Sarin Rev. -11% in 2008, Profit -80%

Sarin Technologies reported that its 2008 group revenues fell 11 percent to $33.1 million as sales in the fourth quarter were slowed by the global recession. Higher expenses and the drop in overall sales led to an 80 percent decline in profits for the year to $1.6 million. Sarin said it invested in two companies during 2008, acquiring 100 percent of Galatea and 23 percent of IDEX Online. Separately, Sarin announced that it appointed Uzi Levami as chief executive officer (CEO), to fill the role that Zeev Leshem resigned in December.

Finlay to Exit Dpt. Stores, Close 40 of its Specialty Boutiques

Finlay Enterprises will abandon its business in leased department store counters and focus solely on its specialty jewelry stores. Arthur E. Reiner, chairman and CEO of Finlay, said the decline in the department store business in the past five years, together with the economic downturn, made leaving the leased counters behind a necessary measure to strengthen the company. Finlay also expects to close 40 underperforming specialty stores.

Fortunoffs 87-Year History Comes to an End with Total Liquidation Sale

Fortunoff began total liquidation sales at all 20 stores February 26, bringing an end to the companys 87-year history in retail. Inventory valued at approximately $212 million will be completely liquidated. Jewelry liquidation is being handled by Wilkerson and Associates and The Gordon Co.

Earlier in the week, a group with unsecured claims against Fortunoff objected to the sale of four lots of diamonds that sold to liquidators for $759,684, claiming that their value was much higher. Court documents stated that prospective bidders did not have an opportunity to inspect the diamonds and bidders werent granted proper access. Based upon the Wells Fargo borrowing base calculation, the diamonds held a cost basis of $1,931,474.

Theo Fennell to Close Dublin Store Concession

Theo Fennell is closing its fine jewelry and watch concession in the Brown Thomas department store in Dublin, Ireland. The decision follows the company’s operations update in January, when the luxury jeweler decided to concentrate on expanding its brand in the U.K. and internationally. Theo Fennell recently reported poor 2008 holiday sales, down 21 percent from the previous year.

Serbian Jewelry Chain Fails to Sell, Govt Vows to Try Again

Serbias privatization agency said its attempt to sell state-owned jewelry chain Majdanpek at public auction failed due to lack of interest. The government sought a minimum price of $8.2 million. Jewelry chain Majdanpek, which was established 30 years ago and employs 344 people, was the biggest jewelry maker in the former Yugoslavia. The government intends to hold another auction to sell the chain.

Astra Diamonds Ends P.D.D. Partnership

Astra Diamonds has ended its joint activities with Yoni Tzruya within their P.D.D. Diamonds partnership effective immediately, the two Israeli companies said in a letter to the trade. The companies did not provide a reason for the split, saying only that their joint activities have ended "with full understanding, agreement and in good relations."

Merit Diamond Reaches Agreement in Suit Against Samuels, Rogers

Merit Diamond reported that an agreement has been reached with retailers Samuels Jewelers and Rogers Ltd., under which they will stop selling items that Merit claims are knockoffs of its signature Sirena Collection, and will destroy the remaining stock. Merit Diamond filed a complaint against the two jewelers in December, saying the retailers had infringed upon Merits copyrights in the Sirena “Solitaire” and “Three Stones” pendants.

Charles & Colvard to Pursue Claim Against K&G Creations

Charles & Colvard stated that settlement discussions with JewelNet Corporation, which is doing business as K&G Creations, have been unsuccessful. Charles & Colvards board of directors will now move forward with the lawsuit that the company filed on June 16, 2008, against K&G Creations. The board anticipates that the legal process could wind up in a court trial, scheduled for December 2009. Charles & Colvard is seeking $2.8 million with interest at a rate of 12 percent from July 4, 2008, while K&G has filed a $50 million counterclaim.

Harry Winston Opens Watch Boutique in Dubai

Harry Winston opened its first watch boutique in Dubai at the newly opened Atlantis Hotel. The store offers a selection ranging from the Harry Winston Avenue collection to diamond jewelry watches. The company announced that in the coming months the boutique will also carry an assortment of Harry Winston diamond jewelry collections.

Cartier Sues QVC, Watchmakers for Patent Infringement

Cartier sued network QVC and watchmakers TWI Watches and JMAM, alleging that the three parties conspired to promote and sell watches bearing designs that are close imitations of Cartiers Santos de Cartier and Pasha de Cartier Grille watches. Cartier requested an end to the manufacture, distribution, advertising and/or sale of watches that bear copies of its designs and trade dress, and asked for the destruction of all related products and marketing material.

Múdry sa teší objaveniu pravdy, hlupák falošnosti.

grofik

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23. 10. 2006

#67 - 6. 3. 2009, 08:58

Rapaport TradeWire - Friday, March 06, 2009
News: Hong Kong Show opens slow with sellers refusing low bids for saleable goods. Rupee plummets to record low (51/$) weakening Indian market trading activity. DTC Feb. sight estimated at $110 mil., down from $600 mil. in Feb 08. Diamdel 2008 rough sales -17% to $444 mil. De Beers Diamond Jewellers 2008 revenues +6%. U.S. chain store Feb. same-store sales -0.1%, but jewelry remains weakest category. Russia 2008 rough exports at 24.5 mil. carats. Sothebys 4Q08 revenues -52% to $166 mil., with net loss of $9 mil. vs. 4Q07 profit of $102 mil. Finlay 4Q restructuring charge estimated at $85-$95 mil. California’s Robbins Bros. retailer files Chpt. 11, with trade debt at $10 mil. Toronto diamond exchange launched. Japan Jan. polished imports -8% to $67 mil.

ANNOUNCEMENTS:

Martin Rapaport - Special Presentation
"State of the Diamond Industry"
BASELWORLD Watch and Jewellery Show

When: Monday, March 30
Presentation 1: 8:00-10:00
Presentation 2: 14:00-16:00
Where: Basel Congress Center, Montreal Hall

To reserve a space, email conference@diamonds.net

Rapaport Fair Trade Jewelry Conference
"Sourcing and Marketing Fair Trade Jewelry"
BASELWORLD Watch and Jewellery Show

When: Monday March 30,10:30-13:30
Where: Montreal Hall, Basel Congress Center

To reserve a space, email fairtrade@diamonds.net

Rapaport Pawnshop Tender in New York
By Appointment Only
March 16–19, 2009

Approximately 30,000 carats, Rounds and Fancies, -2.5 sieve to 1ct+
Large selection of melee from promotional to fine
qualities. Excellent opportunity for diamond and jewelry
manufacturers specializing in inexpensive diamonds.
Contact Myles Schakler at myles@diamonds.net

or +1-212-354-9100 Ext. 2570

RETAIL QUOTE:

“The economy will be in shambles throughout 2009 — and, for that matter, probably well beyond — but that conclusion does not tell us whether the stock market will rise or fall."

Warren Buffett
Chairman and chief executive officer (CEO), Berkshire Hathaway

WORLD NEWS:

DTC Feb. Sight Estimated at $110M

Participants in the Diamond Trading Companys (DTC) February sight reported a slight increase in activity and interest in goods, although the sight remained comparatively very small. Sightholders estimated the value at about $110 million, down from an estimate of $600 million one year ago. The DTC also offered rejected boxes to sightholders after the sight ended and plans to review the success of this strategy for the next sight in March.

Diamdel Sales -17% in 2008

The Diamdel Group, which sells rough diamonds on behalf of De Beers to nonsightholders, saw its sales fall 17 percent to $444 million in 2008. Included in that result are sales by the Hindustan Diamond Company, a joint venture between De Beers and the government of India.

HK Show Buyers Seek Deep Discounts

Exhibitors at the 26th annual Hong Kong International Jewellery Show reported some positive demand during the first two days of the fair, where traffic was relatively strong given the weak economic environment. Reports indicated, however, that while there has been more activity and demand for certain items, deals were not closing, as buyers sought steep discounts. Exhibitors reportedly were selling some goods at a loss. The fair opened Wednesday, March 4, and continues through Sunday, March 8.

Canada Launches Diamond Exchange

Canada launched its first diamond exchange, the Diamond Bourse of Canada, in Toronto. The new bourse was established by 10 founding-member companies to serve Canadas diamond industry. Avi Paz, president of the World Federation of Diamond Bourses (WFDB), welcomed the launch, calling on the bourses leaders to apply to join the WFDB.

Robbins Bros. Chain Seeks Chpt. 11 Reorganization

Retailer Robbins Bros. Co. of California filed for Chapter 11 bankruptcy protection on March 3, 2009, following extensive negotiations to secure new investors and potential buyers. During its bankruptcy proceedings, the company intends to sell substantially all of its assets to two companies whose bids, taken together, formed the best offer. Robbins Bros. Co. does not require debtor-in-possession financing to continue to operate and does not expect any interruption in the delivery of goods and services to its customers throughout the U.S. Spence Diamonds of Canada has offered $3.5 million for certain assets in Texas and Illinois, and current owners and investors plan to set up Robbins Bros. Jewelry Inc. to secure the remaining assets. As of the filing, Robbins Bros. Co. reported trade debt of about $10 million.

U.S. Economy Shrinks 6%

The U.S. economy contracted by 6.2 percent in the fourth quarter of 2008. The annualized quarterly drop in gross domestic product (GDP) was the worst since the first fiscal quarter of 1982. Earlier this month, the U.S. Commerce Department estimated that the decline would come to only 3.8 percent. Consumer spending, which accounts for nearly 70 percent of GDP, fell 4.3 percent, the biggest drop since the second quarter of 1980. Businesses also reduced spending in the period from October through December, with spending on equipment and software plunging almost 29 percent, the worst slump since 1958.

See the fabulous blue diamonds from Rio Tinto’s Argyle Diamond Mine and catch up with all the latest breaking news of the week.

DIAMOND STATS:

Japans Jan. Polished Diamond Imports -8%

Japan’s polished diamond imports fell 8 percent in January; imports for the month amounted to $67 million, compared with $73.1 million one year ago. Japan’s imports by volume declined 4 percent to 194,763 carats, as the average price dropped 4 percent to $344 per carat. Imports from India, Japan’s largest source for the month, rose by 14 percent to $31.3 million, but imports from each of its other major supplier countries were down.

Russia Exports 25M Carats of Rough in 2008

Russia exported 24.472 million carats of rough diamonds worth $1.6 billion in 2008. The country exported 17.28 million carats of diamonds worth $1.2 billion to the European Union (EU). It exported the remaining diamonds to Armenia, Belarus, Belgium, the UK, Israel, India, China, the United Arab Emirates (UAE), the U.S., Switzerland, South Africa and Japan. Production during the year fell 4 percent to 36.9 million carats. Mine output by value dropped 5 percent to $2.5 billion and value per carat was $67.95, down from $68.56 in 2007.

Armenias Jan. Diamond Production -67%

A total of 3,036 carats of diamonds were cut and polished in Armenia during January 2009, compared with 9,245 carats produced in January 2008 — a drop of 67 percent.

WHOLESALE & RETAIL:

Zale Shares Close Below $1

Shares in Zale Corporation closed at 92 cents in New York, down 16 percent on the day, a historic low for the jewelry retailer. Zale opened trading at $1.07 and briefly hit $1.12. Then in late-morning trade, shares slipped below $1 and at one point touched 89 cents. At 92 cents, Zale shares were down 96 percent from one year ago. Zale reached its 52 week high of $30.89 in September 2008.

De Beers Diamond Jewellers 2008 Revenues +6%

Revenues at De Beers Diamond Jewellers rose 6 percent in 2008 as a strong bridal market helped boost sales. De Beers Group — which owns 50 percent of De Beers Diamond Jewellers in partnership with LVMH Moët Hennessy Louis Vuitton — announced in its annual report that its retail arm saw sales increase dramatically in the first half of 2008, before the economic crisis slowed the retail jewelry market. The company did not provide total sales figures in the report.

HSN 2008 Sales +3% But Jewelry Performs Poorly

HSN noted that its poor sales this year of jewelry and fashion apparel were offset by strong performance in the electronics, housewares and health and fitness categories during 2008. HSNs fiscal-year sales rose 3 percent to $2 billion. The company reduced its headcount by 250 positions during the fourth quarter and eliminated merit increases for 2009. In the fourth quarter, gross profit margin was 31.8 percent, down from 33.5 percent one year ago.

Finlay 4Q Restructuring Charge Could Reach $95M

Finlay Enterprises provided cost estimates for its restructuring plans, which were first announced on February 26, 2009. The new strategy included exiting its department store counters and closing 40 specialty stores. Finlay will reduce headcount, primarily in administrative functions based in New York and in sales associate positions in the affected department store locations and specialty stores that are set to close. In carrying out these plans, Finlay expects to incur charges of $85 million to $95 million against its fourth quarter results. It will likely take an additional $40 million to $45 million charge in fiscal year 2009.

Damas Shelves Plans for Six New Stores

Jewelry retailer Damas has placed plans to open six new stores in the United Arab Emirates (UAE) on hold. The global slowdown and lower consumer demand have forced the retailer to this decision. However, Damas maintained that it will not be closing any stores due to the poor market conditions.

DTC Launches Southern Africa 2009 Collection

The Diamond Trading Company (DTC) launched a new collection of diamond jewelry — the DTC Shining Light Awards Southern Africa 2009 Collection — at the Radisson Hotel in Sandton, South Africa. The new collection comprises 18 spectacular pieces of diamond jewelry set with more than 14,000 diamonds, including natural black diamonds, green diamonds, canary yellow and cape colored diamonds and, of course, brilliant white diamonds.

Bidz.com to Auction the Gianni Versace Tiara

Bidz.com has acquired the Gianni Versace Tiara and will present it for public auction. The online jewelry website estimates the tiaras value at more than $3 million, and will commence the auction with an opening bid of $699,000 on March 23, 2009, at 9:00 a.m. PDT. The tiara contains more than 1,200 diamonds, all of which are GIA or EGL certified.

Mission Viejo Approves Green Construction of a New Jared Store

The planning commission of Mission Viejo, California, approved construction of a new 5,937-square-foot building for a Jared the Galleria of Jewelry store. The new Jared store will feature Coronado stone treatments and earth-tone colors along with a tower element, mahogany stain wood trim, eagle roof tile and burgundy awnings. The commission also noted that the the structure will "feature green building methods."

New Online Diamond Jeweler Enters the Market

Cascade Star launched a high-end diamond jewelry website. The available range of jewelry products includes haute couture designs, loose diamonds, diamond solitaire rings, earrings and pendants. The website also offers custom jewelry designs and manufacturing services. Cascade Star says it is backed by several partnerships with jewelry manufacturers, including three Diamond Trading Company (DTC) sightholders and one Rio Tinto Select Diamantaire.

GENERAL NEWS:

Israeli Diamond Industry Credit Falls Below $2B

Israel’s bank credit to the diamond industry fell 21 percent to $1.9 billion during the four months through the end of January 2009, according to the Union Bank of Israel. The bank explained in its 2008 annual report published Wednesday that the decrease came as the global economic crisis slowed demand for diamonds and the banking sector tightened its lending to the industry.

Collectors Universe Exits Diamond Grading Business

Collectors Universe announced that it has decided to discontinue its business in authenticating and grading diamonds and colored gemstones. Collectors Universe, parent company of the Gem Certification and Assurance Lab (GCAL) and the American Gemological Laboratories (AGL), will continue to license its Gemprint identification technology and related patents, and Howard Pomerantz will remain manager of that licensing effort. The Palmieri Group, however, will continue GCAL’s diamond grading business.

IDI Cranks Up Marketing Effort for Industry

The Israeli Diamond Institute Group of Companies (IDI) has launched the first stage of a strategic initiative to provide additional marketing support to Israeli diamond manufacturers and exporters. Moti Ganz, IDI chairman, explained that the program was created in response to the international economic crisis and its effect on the global diamond industry.

GIA India to Offer AJP Course in Bangalore

The Gemological Institute of America - India (GIA India) plans to increase the accessibility of its accredited Graduate Gemologist and Graduate Diamonds Diploma Programs in the coming year. As a first step, GIA India, the education partner in the South India Jewellery Show, will conduct seminars at the show, in Bangalore from March 23 to 27, and will launch the Accredited Jewelry Professional (AJP) Diploma there.

Indias Diamond Exporters Diversify into Equity Trading

Several big diamond exporters are planning to diversify into equity trading, following the decline in demand for polished stones in the key markets. The diamond traders are planning to acquire sharebrokers cards on equity bourses. Some of them have already increased their exposure in gold futures.

Two Separate Robberies Net a Total of $1M in Diamonds

A traveling Israeli dealer in Missouri and a diamond store manager in Texas became the latest victims of robberies. An estimated $400,000 to $500,000 in jewels was stolen from an Israeli diamantaire as he drove up to a Courtyard by Marriott hotel on the outskirts of Kansas City for the night. In Dallas, Texas, a robber disguised as a FedEx delivery man stole $600,000 worth of diamonds from the Select Diamond Company. The robber also took $100,000 worth of Rolex watches. This suspect rushed the door when he was granted entry and knocked the store manager unconscious.

India Announces Skill-Enhancement Aid For Diamond Workers

Minister Narendra Modi announced a skill-enhancement aid package for diamond workers. The state government also introduced a subsidy scheme, under which diamond workers who turn to farming can get short-term agricultural loans at a 3 percent interest rate. A diamond worker enrolled in the skill package will get a stipend of $1.95 (INR 100) per day and up to $48.70 (INR 2,500) per month.

JCK Shaves One Day Off the Luxury & Premiere Show

The organizers of the invitation-only Luxury & Premiere show reduced the event by one day. Luxury & Premiere will now run May 27 to 29, 2009, at the Venetian Resort and The Palazzo Resort in Las Vegas, Nevada. It was previously announced, in August 2008, that the organizers of the JCK Vegas Show, which runs May 30 through June 2, will cut one day from that shows schedule as well.

Groups Back Diamond Grading Standards in Hong Kong

Hong Kong launched a new certification scheme meant to increase consumer confidence in diamonds. The Hong Kong Laboratory Accreditation Scheme on Diamond Testing, sponsored by the Hong Kong Productivity Council and the Gemmological Association of Hong Kong, provided statutory definitions for diamond and jade, and the government now obliges retailers to provide detailed invoices and receipts that conform to those specific definitions.

HRD Antwerp Initiates Partnership with Hong Kong

HRD Antwerp will launch diamond grading courses in Hong Kong, in close cooperation with the Hong Kong Institute of Gemmology. Two intensive programs will be conducted by an experienced HRD Antwerp instructor: The Certified Diamond Grader course and the Diamond Rough Sorting Basic course. The first course includes training in the principles of diamond optics, grading, identification and imitation detection. The second teaches the basic methods of sorting diamonds.

WHO IS NEWS:

Banda Wins Fifth Consecutive Term

New York Diamond Dealers Club election results:
President - Jacob Banda
Vice President - Moshe Mosbacher
Secretary - Nissan Perla
Treasurer - Jacob Weinstock
Board Of Directors
Meilech Fastag
Moshe Zweibel
Abraham Einhorn
David Klein
Aaron Landau
Solomon Rybak
Zev Oster
Gary Dimenstein
Leon Well
Robert Moskovitz
Phillip Klein
Eli Gottleib
Dov Fruchter
Benjamin Moller
Moshe David Reisz
Joseph Khafi

24 Karat Club of NY Announces New Board Members

Phyllis M. Bergman was elected 2009 chairperson of the 24 Karat Club of New York. Bergman is president of Mercury Ring Corporation, and is the first woman to be elected chairperson. Michael Toback, president of Myron Toback Inc., was elected as the clubs president, and Harvey O’Conor, president of Findings, was elected club vice president. Alan F. Kleinberg of Michael Werdiger Inc. was elected treasurer and John Kennedy of the Jewelers Security Alliance (JSA) was elected club secretary. Todd Wolleman, president of Leo Wolleman Inc., was voted in as a new board member.

True North Gems Appoints Amaral, Groves to Lead Greeland Teams

True North Gems announced that Rejane Amaral has been promoted to project manager of True Norths operations in Greenland, and that Iain Groves will take on the role of senior exploration geologist at the companys Greeland-based Fiskenaesset ruby project. The appointments were made following the departure of Greg Davison, who was vice president of exploration for True North.

Employees of Michael Fina, Mervis Diamond Win Sales Award

Platinum Guild Internationals “Platinum Sellers Contest” named Richard Wubnig of Michael C. Fina in New York its winning sales associate for increasing his sales by 53 percent during the period from October 1 through December 21, 2008, compared with one year ago. The second-, third- and fourth-place winners are all sales associates at Mervis Diamond Importers in Tysons Corner, Virginia.

DIAMOND MINING NEWS:

ALROSA to Extend Credit to Cutters in Armenia

ALROSA is ready to extend credit to Armenia to help boost activity at its diamond processing plants. Armenia would use the credit to buy ALROSAs rough diamonds.

RBC Downgrades Harry Winston on Continued Diamond Weakness

RBC Capital Markets slashed its outlook for the Harry Winston Diamond Corporation, explaining that declines in rough diamond prices could negatively impact the company’s prospects for the next two years. The investment firm cut its one-year target for Harry Winston from $13 to $5 per share, and lowered its rating for the company from "Outperform, Above Average Risk" to "Sector Perform, Speculative Risk."

Venezuela to Reactivate Plants For Diamond Mining

Venezuela plans to reactivate the Guaniamo and Santa Elena de Uairen plants in Bolivar state, to exercise stricter control over diamond production, mining and industrialization. Venezuela is not a current member of the Kimberley Process.

Namibian Resources Places Mine on Care, Maintenance

Namibian Resources, which mines diamonds on behalf of Namdeb, placed its operations on care and maintenance due to weakness in the diamond markets.

Botswana to Shed More Jobs

Botswana, the worlds largest diamond miner, has lost 4,528 jobs — about half of them at Debswana — so far this year, as global demand for the precious stones plummeted. Debswana announced the closure of two mines, and laid off a total of 1,000 staff members and another 1,000 contract workers this past week.

Blue Gum Diamond Project Yields Almost 13K Carats in 2008

The Blue Gum Diamond Project in South Africa yielded 12,600 carats of diamonds in 2008. The diamonds received an average value of $512 per carat at tender. After ramping up production in the second and third quarters of the year, however, the project was placed on care and maintenance at the end of November.

Pangea DiamondFields Raises $12M

Pangea DiamondFields raised at least $12 million in an open offer placement of its shares. The diamond exploration company reported that it has now met all of the offers conditions. A total of 1,608,579,082 offer shares have been issued, more than the minimum amount required for the offer to be valid. The company received payment for 71,263,050 shares this week, helping it reach the $12 million target.

Fort a la Corne Delivers Seventh Diamond Sample

The Fort a la Corne joint venture in Canada has so far produced 299.3 carats in bulk sampling from 2,010.5 dry metric tons (2216.2 tons) of kimberlite. With a seventh sample from the project now sent for valuation, a total of 1,394 commercial-sized diamonds — i.e. stones greater than a 1.18-millimeter-square mesh screen — have been recovered. The four largest are 9.37, 7.16, 5.42 and 4.77 carats.

Rio Tinto Tenders a Rare Offering of Blue Diamonds

Rio Tinto’s Argyle Diamond Mine is set to showcase its rare blue diamonds to the world in a unique sale known as the "Once in a Blue Moon" collection. While the Argyle Diamond Mine is well-known for producing rare pink and champagne diamonds, it also produces other colors such as rare blue stones. It is a closed tender and will be showcased in Perth, Hong Kong and Tokyo before bids close on April 8.

West African Diamonds to Start Production at Guinea Mine

West African Diamonds (WAD) announced Wednesday that it plans to start production of diamonds at its Bomboko alluvial mine in Guinea in April. The launch comes as other mining companies are scaling back production due to the slowdown in demand for rough diamonds. At full production, the mine is projected to produce 18,000 metric tons (19,842 tons) per month.

ECON WATCH:

Week ending March 5, 2009

Mar. 5 Feb. 26 Chng.
$1 = Euro 0.795 0.780 0.015
$1 = Rupee 51.8 50.5 1.3
$1 = Israel Shekel 4.24 4.17 0.07
$1 = Rand 10.61 9.89 0.72
$1 = Canadian Dollar 1.29 1.25 0.04

Precious Metals
Gold $932.90 $945.10 -$12.20
Platinum $1,061.00 $1,051.00 $10.00

Stock Indexes Chng.
BSE 8,197.92 8,954.86 -756.94 -8.45%
Dow Jones Avg. 6,595.44 7,182.08 -586.64 -8.17%
FTSE 3,529.86 3,915.64 -385.78 -9.85%
Hang Seng 12,211.24 12,894.94 -683.70 -5.30%
S & P 500 682.55 752.83 -70.28 -9.34%
Yahoo! Jewelry Index 439.99 480.87 -40.88 -8.50%

USA
Birks & Mayors $0.20 $0.35 -$0.15 -42.86%
Blue Nile $22.39 $22.98 -$0.59 -2.57%
Charles & Colvard $0.28 $0.41 -$0.13 -31.71%
DGSE Companies, Inc. $0.88 $0.88 $0.00 0.00%
Fuqi International $3.68 $4.13 -$0.45 -10.90%
JCPenney $14.38 $15.43 -$1.05 -6.80%
Kohls $35.71 $34.70 $1.01 2.91%
Lazare Kaplan $1.46 $1.85 -$0.39 -21.08%
LJ International $0.51 $0.53 -$0.02 -3.77%
Macys $6.58 $7.84 -$1.26 -16.07%
Man Sang $1.05 $1.30 -$0.25 -19.23%
Movado Group $4.79 $5.73 -$0.94 -16.40%
Nordstrom $12.23 $12.97 -$0.74 -5.71%
Saks $1.99 $2.36 -$0.37 -15.68%
Signet $7.39 $7.24 $0.15 2.07%
Sothebys $6.75 $6.77 -$0.02 -0.30%
Tiffany $17.13 $18.96 -$1.83 -9.65%
Wal-Mart $49.75 $48.24 $1.51 3.13%
Zale $0.92 $1.21 -$0.29 -23.97%

EUROPE
Bulgari €3.12 €3.06 €0.06 1.96%
Bijou Brigitte €72.30 €75.70 -€3.40 -4.49%
Esa €2.07 €2.75 -€0.68 -24.73%
Golay-Buchel CHF 1,344.00 CHF 1,550.00 -CHF 206.00 -13.29%
LVMH €45.76 €46.46 -€0.70 -1.51%
Pinault P-R SA €47.96 €46.67 €1.29 2.76%
Richemont SA CHF 14.50 CHF 15.89 -CHF 1.39 -8.75%
Swatch Group CHF 127.00 CHF 133.50 -CHF 6.50 -4.87%
Theo Fennell (pence) 13.00 12.40 €0.60 4.84%

INDIA (rupee)
Classic Diamond 6.95 7.13 -0.18 -2.52%
Gitanjali Gems 35.00 38.15 -3.15 -8.26%
Rajesh Exports 23.35 23.70 -0.35 -1.48%
Ren. Jewellery 18.55 20.00 -1.45 -7.25%
Su-Raj Diamonds 19.30 21.15 -1.85 -8.75%
Titan 709.75 762.20 -52.45 -6.88%
Zodiac JRD 10.45 9.75 0.70 7.18%
Suashish Diamonds 118.70 110.75 7.95 7.18%

NEW ZEALAND
Michael Hill NZD 0.48 NZD 0.48 NZD 0.00 0.00%

MINING STOCKS
(pence unless noted)
USA
Anglo American $6.80 $7.13 -$0.33 -4.63%
CANADA
Archangel CAD 0.06 CAD 0.07 -CAD 0.01 -14.29%
Harry Winston CAD 2.67 CAD 3.13 -CAD 0.46 -14.70%
Mountain Province CAD 0.76 CAD 0.79 -CAD 0.03 -3.80%
Peregrine Diamonds CAD 0.52 CAD 0.55 -CAD 0.03 -5.45%
Rockwell Diamonds CAD 0.03 CAD 0.04 -CAD 0.01 -25.00%
Shore Gold CAD 0.29 CAD 0.29 CAD 0.00 0.00%
Stornoway Diamond CAD 0.09 CAD 0.11 -CAD 0.02 -18.18%
True North Gems CAD 0.08 CAD 0.09 -CAD 0.01 -11.11%
UK (pence)
African Diamonds 20.0 24.0 -4.0 -16.49%
BHP Billiton 1,107.0 1,155.0 -48.0 -4.16%
Firestone Diamonds 16.0 16.3 -0.3 -1.54%
Gem Diamonds 147.5 173.8 -26.3 -15.11%
Gemfields 3.3 3.3 0.1 2.15%
Mano River 2.8 2.8 0.0 0.00%
Mwana Africa 3.5 3.4 0.2 5.37%
Namakwa Diamonds 18.8 21.0 -2.3 -10.71%
Petra Diamonds 26.8 28.5 -1.8 -6.14%
Rio Tinto plc 1,733.0 1,874.0 -141.0 -7.52%

Múdry sa teší objaveniu pravdy, hlupák falošnosti.

grofik

Profilový obrázek
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Příspěvky: 22 585

Zaregistrován
23. 10. 2006

#68 - 27. 3. 2009, 07:42

Rapaport TradeWire - Friday, March 27, 2009
News: Prices stabilizing as market conditions improve for small to medium sizes up to 3 cts. Large stone liquidity remains problematic with some improvement in trading activity as sellers accept new price realities. Rough tenders bringing higher prices which may not be sustainable. BaselWorld begins with low expectations. Tiffany & Co. 4Q sales -20% to $841 mil., profits -76% to $31 mil. Signet 4Q sales -19% to $1.1 bil., with loss of $424 mil., vs. profits of $143 mil. in ‘08. Kinross Gold to invest $46 mil. for 20% share in Harry Winston and $104 mil. for indirect stake in HW Diavik mine. ALROSA asks Gokhran to buy all its rough in 09; Angola to buy rough from state-owned Endiama. Henricks Jewelers to liquidate $8 mil. worth of inventory. Diamond Empowerment Fund elects Neal Goldberg of Zale as co-president. U.S. trade must report 2008 rough imports/exports to State Dpt. by April 1.

ANNOUNCEMENTS:

Martin Rapaport - Special Presentation
"State of the Diamond Industry"
BASELWORLD Watch and Jewellery Show

When: Monday, March 30
Presentation 1: 8:00-10:00
Presentation 2: 14:00-16:00
Where: Basel Congress Center, Montreal Hall

RSVP not required.

To reserve a space, email conference@diamonds.net

Rapaport Fair Trade Jewelry Conference
"Sourcing and Marketing Fair Trade Jewelry"
BASELWORLD Watch and Jewellery Show

When: Monday March 30,10:30-13:30
Where: Montreal Hall, Basel Congress Center

RSVP not required.

To reserve a space, email fairtrade@diamonds.net

RETAIL QUOTE:

"This is the worst crisis our generation has seen, especially in the U.S....but family and love are positive values in the current environment. Our investments this year, in total, could be even higher than last year or at the same level. We are investing n new stores in China] because we know that there will be an after-crisis. It could be in two months or six months or a year or whenever....We are preparing every day for it."

---Stanislas de Quercize, chief executive officer (CEO), Van Cleef & Arpels

WORLD NEWS:

ALROSA to Sell All Output to Gokhran

The Gokhran is expected to buy considerably more rough diamonds from ALROSA this year. Gokhrans draft 2009 budget, which is still subject to approval by the government, set aside funds to buy rough diamonds and precious metals this year. The Gokhran plans to sell around $1.4 billion worth of precious metals and stones, three times what was sold in 2008. The Gokhran will sell diamonds partly at auctions, the first one of this year being slated for March 31. Additionally, ALROSA has signed a memorandum with the Leader Management Company to begin putting the infrastructure in place to trade high-end cut diamonds as a marketable commodity. ALROSA has also revealed that Gazprom is interested in acquiring the diamond mining companys gas assets. There may be a buyer as well for ALROSAs oil subsidiary, ALROSA Irelyakhnft, but the party was not disclosed.

U.S. Rough Diamond Import, Export Reports Come Due April 1

If your U.S.-based company imported or exported rough diamonds during 2008, you must file that information with the government on or before April 1. The Jewelers Vigilance Committee (JVC) offers a template at www.jvclegal.org — or you may report the information in your own fashion — and email it to USKimberleyProcess[at]state.gov.

Importers and exporters must report the total numbers of their imports or exports in any of the following categories:
7102.19 – Unsorted (gem and industrial) rough diamonds
7102.21 – Sorted rough industrial diamonds
7102.31 – Sorted rough gem diamonds

Recession Expected to Slow Visitor Traffic at BaselWorld

Organizers of the BaselWorld 2009 Watch & Jewellery Show expect fewer buyers to attend, as the economic downturn continues to impact spending in the gem and jewelry industry. BaselWorld runs through Tuesday, April 2. The 2008 show saw record attendance, with 106,000 visitors, according to organizers.

Rapaport Broadcast News

Is optimism enough to save the U.S. economy from the "greatest depression”? In the second and final segment of our interview with Gerald Celente — founder of the The Trends Research Institute — the discussion turns to what has to happen to spark a recovery. More pertinently for the diamond industry, Celente shares his thoughts on what sets diamonds apart in this down market.

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25792

WHOLESALE & RETAIL:

Signet Records 4Q Loss of $424M

Signet Jewelers posted a net loss for its fourth fiscal quarter that ended January 31, 2009, due to a slump in sales and the costs of one-time impairment charges. Signet reported a loss of $424 million, compared with net profits of $143 million one year ago. Signet previously reported that its fourth-quarter sales fell 19 percent to $1.1 billion. Same-store sales were down 15 percent.

Tiffany 4Q Profits -76%

Tiffany & Co.s profits tumbled during its fourth fiscal quarter as the weak consumer market, particularly in the U.S., took its toll on company sales. Profits for the three months ending January 31, 2009, fell 76 percent to $31.1 million. Fourth-quarter sales declined 20 percent to $841 million, with sales in the U.S. falling 30 percent during the period. U.S. same-store sales dropped 33 percent.

Skinner Fine Jewelry Auction Nets Almost $2M

Auction house Skinner reported that its fine jewelry sale fetched almost $1.8 million. An Art Deco diamond, onyx, jadeite and coral brooch by Boucheron Paris sold for $189,600, and a renaissance revival enamel, sapphire and diamond brooch sold for $71,100. The sale also included a Renaissance Revival 18-karat gold gem-set armlet, circa 1880, featuring sapphire and diamond florets, bezel-set sapphire, emerald and ruby accents and rose-cut diamond highlights, which sold for $40,290.

Sotheby’s London Fine Jewels Sale Garners $2M

Sotheby’s London Fine Jewels sale generated $1.9 million, selling 73 percent by lot and 77 percent by value. The top lot, an early 20th-century diamond necklace with two circular-cut diamonds weighing 5.19 carats and 5.17 carats respectively, sold for $88,922, within the presale estimate. A cultured pearl and diamond necklace by Cartier sold for $83,696. Rounding out the top three lots was a 5.63-carat brilliant cut diamond ring, which sold for $81,954.

Henricks Jewelers to Liquidate Inventory

Henricks Jewelers in Florida is liquidating the entire inventory, worth $8 million, of its 12,000-square-foot Bonita Springs showroom. The ongoing 60-day sale includes steep discounts on diamonds and gemstones. Henricks filed Chapter 11 in November 2007, and reorganized in March of the following year, but then became unable to meet its financial obligations, leading to the current liquidation.

Aurum Plans Cost Reductions But Reports Steady Sales

Aurum Holdings, the owner of luxury jewelers Goldsmiths, Mappin & Webb and Watches of Switzerland reassured markets of the health of its business after the collapse of former investor Baugur. Aurum, which counts the high street jewelry stores among its portfolio, said that performance since the start of the year was flat, but considering the climate, it had "exceeded expectations." The group, which has about 200 stores in the U.K., said it had decided to implement more reductions and was working with its banks to find ways to steer it through "challenging" economic conditions.

Dubai Pearl Exchange Tender Nets Sales of $1M

The Dubai Pearl Exchange held its first pearl tender in February, and reported that the sale generated more than $1 million. The invitation-only event attracted 40 companies. Highlights of the sale included an exceptionally rare drop-pair of Paspaley Pearls natural pearls, which were purchased by Swiss Pearls of Switzerland, and a set of cherry-colored Robert Wan Tahitian pearls, strand and earrings, bought by Shafiian Gem.

JAR Headlines Christies NY Sale

Christie’s upcoming jewelry sale, on April 22, 2009, in New York, will offer diamonds, colored gems and signed jewels, including antique, Belle Époque, Art Nouveau, retro and contemporary creations, as well as five JAR jewels. The JAR jewels will include three pairs of elaborate ear clips: a pair of diamond and black-diamond hedgehog ear clips with an estimated value of $20,000 to $30,000; a pair of emerald and diamond ear clips, estimated at $20,000 to $30,000; and a pair of chalcedony, diamond and sapphire ear clips in a fan design, estimated at $25,000 to $35,000. The show will also offer two JAR brooches for sale, one featuring a 103.28-carat cabochon emerald and one with a cushion-cut, 52.57-carat sapphire centerpiece.

Timex Group to Consolidate Business Unit Operations in Connecticut

The Timex Group will consolidate the operations of its Timex and Callanen International businesses at its Middlebury, Connecticut, headquarters. Timex is currently located in Middlebury, while Callanen International is housed in Norwalk, Connecticut. The company announced the consolidation will result in some "limited staff realignment and reductions."

La Vie Group Signs With Alan Friedman of Beverly Hills

The La Vie Group of Companies signed with jewelry designer Alan Friedman to head the design and direction of a new project called "Alan Friedman International." The La Vie Group is an expanding jewelry industry coalition of manufacturers, distributors, designers and consumer brands led by Super Bell Jewelery. The Alan Friedman International collections will be previewed at the JCK Vegas Show, which runs May 30 through June 2, 2009.

Armaan Swiss Diamond Watches Enters U.S. Market

Armaan Swiss Diamond Watches entered the U.S. marketplace with a launch party, held recently in Beverly Hills, California. The luxury watch company, which was founded in 2006 by Nirav Bhansali, is based out of Lugano, Switzerland. The brand offers mens and womens timepieces, ranging in price from $3,000 to $90,000, in a variety of styles and color combinations.

Tanishq Looking at Conservative Growth in 2009-10

The Tanishq jewelry retail chain of Titan Industries is assuming conservative growth in 2009-2010, in view of the economic slowdown and uncertain gold prices, and will focus on quality of sales. The company lowered its expectations for 2008-2009, anticipating a 30 percent growth rate from 2007-2008, instead of the previously projected 35 to 40 percent. In 2007-2008, Titans jewelry sales came in at about $400 million.

GENERAL NEWS:

Gem Sales Earn Myanmar $191M

Sources say Myanmar has earned more than $191 million from sales of jade and gemstones at its latest government-sponsored auction, despite a U.S. ban on such imports. Gem auctions are a major revenue earner for Myanmars ruling party, which faces economic and political sanctions from the West because of its poor human rights record and its failure to hand over power to a democratically elected government. The government, which takes a 10 percent tax from the sales, does not release official sales figures from the auction.

Men Loot Jewelry Store, Escape in Porsche

An early-morning burglary at Kevin Jewelers in Mission Viejo, California, was captured on videotape, and police suspect it might have been an inside job. Three masked men grabbed all they could during the few moments they were inside the store. Surveillance video shows the suspects pacing outside Kevin Jewelers before shattering a window and entering the store. They smashed the glass display cases with hammers, snatched the merchandise and fled the scene in a Porsche SUV.

New York Antique Jewelry & Watch Show Returns July 24-27

The third annual New York Antique Jewelry & Watch Show will take place July 24 to 27, 2009, at the the Metropolitan Pavilion in Manhattan. The four-day event, which opens two days prior to the JA New York Summer Show, will bring together more than 100 dealers from major trading centers. The show runs from 1 p.m. to 7 p.m. on July 24; 11 a.m. to 7 p.m. on July 25 and 26; and 11 a.m. to 4 p.m. on July 27.

Responsible Jewellery Council Outlines the RJC System at Basel

The Responsible Jewellery Council (RJC) held a press conference, during the media day immediately prior to the opening of BaselWorld, to outline to exhibitors, attendees and the media the process of getting certification under the RJC System. RJC is open to all commercial ventures in the gold and/or diamond watch and jewelry supply chain that are willing to adhere to the RJC’s Code of Practices (COP) and to submit to third-party auditing. The RJC’s website — www.responsiblejewellery.com — has a full list of the council’s members and information on joining the organization.

Diamonds From Victor Set in Legislative Mace

Two diamonds from De Beers Canadas Victor Mine were installed in the ceremonial mace of the Ontario, Canada, legislature. One of the diamonds is cut and polished and the other is rough. The setting was designed by Reena Ahluwalia, De Beers jewelry award winner. Michael Gravelle, Ontarios minister of mines, said he hoped the diamond-studded mace would bring some optimism to the legislative body by reminding them of the potential wealth in diamonds lying underneath the provinces soil.

WHO IS NEWS:

Diamond Empowerment Fund Elects Goldberg, Chavis as Co-Presidents

The Diamond Empowerment Fund (DEF) elected two new board co-presidents: Neal Goldberg, Zales chief executive officer (CEO), and Dr. Benjamin Chavis, president and CEO of the Hip-Hop Summit Action Network. The outgoing board president is Sally Morrison, director of the Diamond Information Center.

IDI Promotes Orna Chait to Chief Information Officer

The Israel Diamond Institute (IDI) Group of Companies announced that Orna Chait has been promoted to deputy managing director and chief information officer (CIO). In this capacity, Chait will be responsible for the information technology (IT) and online services of the IDI Group.

DIAMOND MINING NEWS:

Angola Gov’t to Buy Local Diamonds

Angola is planning to buy diamonds mined in the country in order to boost local mining companies, which are reeling from the drop in global demand and prices. The government will buy the diamonds at market prices in order to maintain companies’ liquidity, so that they can meet salary and service obligations. Angola is the fifth-largest producer of rough diamonds by value.

Uganda Seeks $5M in Funding to Complete Mineral Surveys

Uganda is seeking $5 million in funding to complete a national mineral survey, and has informed the World Bank of this need. Previous stages of the survey have been funded by grants and loans from the World Bank, the Nordic Bank, the African Development Bank and the government of Uganda. As of January, the Ministry of Energy and Minerals had obtained results of airborne geophysical surveys for 80 percent of the country, which indicated high occurrences of diamonds, gold and other minerals, especially in the southwest, near the border with the Democratic Republic of the Congo (DRC).

DiamonEx Sells 80% of Lerala Mine

Australia-based DiamonEx has agreed to sell 80 percent of its Botswana subsidiary, DiamonEx Botswana Limited — which owns the Lerala diamond mine — to Fleming Asset Management Botswana. DiamonEx will also transfer its diamond exploration tenure in the U.S. to Fleming. The deal will relieve DiamonEx of approximately $16 million in loans. In addition, Fleming will take over DiamonEx’s obligations under convertible bonds equivalent to $6.8 million.

Rio Tinto Discovers Rich Diamond Resource in Madhya Pradesh

Rio Tinto has discovered an immensely rich diamond resource in Madhya Pradesh, India, a development that could boost the companys plans to invest in the country. Rio Tinto has identified an inferred diamond resource of some 37 million metric tons (40.8 million tons), with an estimated grade of 0.7 carats per metric ton.

ECON WATCH:

Week ending March 26, 2009

Mar. 26 Mar. 19 Chng.
$1 = Euro 0.735 0.730 0.005
$1 = Rupee 50.5 50.0 0.5
$1 = Israel Shekel 4.18 4.05 0.13
$1 = Rand 9.35 9.63 -0.28
$1 = Canadian Dollar 1.23 1.23 0.00

Precious Metals
Gold $934.60 $959.00 -$24.40
Platinum $1,143.00 $1,123.00 $20.00

Stock Indexes Chng.
BSE 10,003.10 9,001.75 1,001.35 11.12%
Dow Jones Avg. 7,924.56 7,400.80 523.76 7.08%
FTSE 3,925.20 3,816.93 108.27 2.84%
Hang Seng 14,108.98 13,130.92 978.06 7.45%
S & P 500 832.86 784.04 48.82 6.23%
Yahoo! Jewelry Index 603.60 535.11 68.49 12.80%

USA
Birks & Mayors $0.43 $0.20 $0.23 115.00%
Blue Nile $33.34 $27.23 $6.11 22.44%
Charles & Colvard $0.30 $0.29 $0.01 3.45%
DGSE Companies, Inc. $0.85 $0.90 -$0.05 -5.56%
Fuqi International $4.29 $4.08 $0.21 5.15%
JCPenney $20.13 $17.69 $2.44 13.79%
Kohls $42.97 $41.17 $1.80 4.37%
Lazare Kaplan $1.14 $1.15 -$0.01 -0.87%
LJ International $0.58 $0.49 $0.09 18.37%
Macys $9.61 $8.76 $0.85 9.70%
Man Sang $1.54 $1.40 $0.14 10.00%
Movado Group $8.11 $7.76 $0.35 4.51%
Nordstrom $17.71 $15.26 $2.45 16.06%
Saks $1.99 $1.69 $0.30 17.75%
Signet $12.88 $10.33 $2.55 24.69%
Sothebys $10.16 $9.03 $1.13 12.51%
Tiffany $22.73 $20.77 $1.96 9.44%
Wal-Mart $52.68 $49.95 $2.73 5.47%
Zale $2.35 $1.14 $1.21 106.14%

EUROPE
Bulgari €3.36 €2.92 €0.44 15.07%
Bijou Brigitte €81.90 €83.01 -€1.11 -1.34%
Esa €2.06 €1.82 €0.24 13.19%
Golay-Buchel CHF 1,250.00 CHF 1,250.00 CHF 0.00 0.00%
LVMH €47.88 €48.97 -€1.09 -2.23%
Pinault P-R SA €47.79 €52.29 -€4.50 -8.61%
Richemont SA CHF 18.20 CHF 17.86 CHF 0.34 1.90%
Swatch Group CHF 136.50 CHF 145.00 -CHF 8.50 -5.86%
Theo Fennell (pence) 15.12 17.50 -€2.38 -13.60%

INDIA (rupee)
Classic Diamond 7.91 7.65 0.26 3.40%
Gitanjali Gems 39.95 40.85 -0.90 -2.20%
Rajesh Exports 24.50 24.25 0.25 1.03%
Ren. Jewellery 20.05 21.60 -1.55 -7.18%
Su-Raj Diamonds 21.10 20.65 0.45 2.18%
Titan 774.40 727.00 47.40 6.52%
Zodiac JRD 11.50 11.05 0.45 4.07%
Suashish Diamonds 114.90 109.35 5.55 5.08%

NEW ZEALAND
Michael Hill NZD 0.53 NZD 0.53 NZD 0.00 0.00%

MINING STOCKS
(pence unless noted)
USA
Anglo American $9.14 $8.79 $0.35 3.98%
CANADA
Archangel CAD 0.09 CAD 0.09 CAD 0.00 -5.56%
Harry Winston CAD 3.45 CAD 2.28 CAD 1.17 51.32%
Mountain Province CAD 0.88 CAD 0.78 CAD 0.10 12.82%
Peregrine Diamonds CAD 0.66 CAD 0.55 CAD 0.11 20.00%
Rockwell Diamonds CAD 0.04 CAD 0.04 CAD 0.00 0.00%
Shore Gold CAD 0.29 CAD 0.31 -CAD 0.02 -6.45%
Stornoway Diamond CAD 0.14 CAD 0.11 CAD 0.03 27.27%
True North Gems CAD 0.08 CAD 0.09 -CAD 0.02 -16.67%
UK (pence)
African Diamonds 23.4 20.0 3.4 16.85%
BHP Billiton 1,459.0 1,405.0 54.0 3.84%
Firestone Diamonds 15.0 15.9 -0.9 -5.36%
Gem Diamonds 145.5 150.0 -4.5 -3.00%
Gemfields 3.4 3.4 0.0 0.00%
Mano River 3.3 3.0 0.3 8.33%
Mwana Africa 4.1 3.2 0.9 28.93%
Namakwa Diamonds 19.5 15.3 4.3 27.87%
Petra Diamonds 27.5 27.3 0.3 0.92%
Rio Tinto plc 2,382.0 1,979.0 403.0 20.36%

Múdry sa teší objaveniu pravdy, hlupák falošnosti.

grofik

Profilový obrázek
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Příspěvky: 22 585

Zaregistrován
23. 10. 2006

#69 - 10. 4. 2009, 07:27

Rapaport TradeWire - Friday, April 10, 2009
News: DTC March sight estimated at $200 mil. with pickup in demand and prices for rough diamonds. De Beers cuts DRC exploration and significantly reduces London staff. ALROSA to sell $500 mil. in rough to 15 Antwerp firms in 09. S&P suspends credit rating for ALROSA citing lack of disclosure of financial information. Hong Kong Jan./Feb. jewelry sales -3% with total retail -2% to $6.2 bil. Sotheby’s Hong Kong jewels sale at $16 mil. with 68% sold by lot and a 13.53ct., D, flawless selling for $1.5 mil. ($110,865p/ct). SunDiamond to set up Ontario Canadas first diamond cutting and polishing facility. Helzberg’s CEO Marvin Beasley resigns and is replaced by Beryl Raff. THE NEXT RAPAPORT PRICE LIST WILL BE PUBLISHED ON APRIL 24 DUE TO PASSOVER HOLIDAY.

RETAIL QUOTE:

"Weve had to introduce more aggressive discounting and offer free gifts to stimulate sales in an attempt to offset the difficult global retail environment. This has been common practice among most retailers since the start of the financial crisis late last year. Many customers still regarded jewelry as an emotional purchase closely associated with special occasions in their life. [With our foray into the tough U.S. market] its still early days for us, but if our model works, then we could grow our chain of stores to about 800."

Mike Parsell, CEO
Michael Hill International

WORLD NEWS:

DTC March Sight Estimated at $200M as Demand Improves Slightly

Reports from the Diamond Trading Company (DTC) sight indicated a slight increase in demand for De Beers rough diamonds, as diamantaires respond to an apparent shortage in the market. The third sight of the calendar year, which ran from March 30 through April 3, had an estimated value of $200 million. This was double the average value of the previous three sights, but was still only about one-third the value of the March 2008 sale. Observers noted a generally more positive mood, a lack of rough in the market, a slight return of "demand-driven" buying, and strong requests for rough yielding polished sizes of 1 to 1.5 carats.

Participants in the sight were, however, still inhibited by DTC’s high prices relative to other sources of rough in the market. One sightholder expressed concern that the slight market upturn would give DTC confidence to maintain its high price levels. DTC vowed to continue offering smaller sights “until demand picks up at the consumer level.” Sightholders’ forecasted buying needs for the next 10 months were estimated at 50 percent lower than they were in 2008.

World Gold Jewelry Fabrication -10%, Expect Further Declines in 2009

World gold jewelry fabrication fell 10 percent in 2008 as jewelry demand was hurt by high prices and the recession. Fabrication will likely continue to decline in 2009, while prices remain high and the world economic outlook remains uncertain, according to GFMS Metals Consulting. Fabrication fell most steeply in the first half, rose nearly 10 percent in the third quarter and was steady in the final quarter of 2008. Jewelry demand in India was down almost 100 tons. Demand fell by almost a fifth in Italy and by 10 percent in the Middle East. Demand in China grew modestly — the only country to see an increase — to a record high, owing to a stronger yuan, an increase in investor demand and strong domestic consumption.

Gold prices could easily trade above $1,000 a troy ounce in the coming months, the group explained. A summer lull or the need for inflationary pressures to build could mean sub-$900-per-ounce prices in the short term; rising scrap supplies are weighing on prices. GFMS said that inflationary fiscal and monetary policies currently being enacted, particularly by the U.S. administration are the root cause of golds potential. Central banks will also be reluctant to raise interest rates, and the dollar could weaken, further supporting gold prices.

Bank Opens $100M Facility for ALROSA, S&P Suspends Rating

VTB opened a credit facility of $100 million for ALROSA for working capital. VTB earlier, in December 2008, provided ALROSA with $1.3 billion in 600-day funding to refinance short-term debt on loans issued by investors. Meanwhile, Standard & Poors (S&P) Ratings Services suspended its "BB-" long-term and "B" short-term corporate credit ratings for ALROSA, citing continued lack of information on the company’s financial and operating performance and prospects. S&P has not been supplied with sufficient information on ALROSAs sales volumes in the fourth quarter of 2008 and first quarter of 2009, or on the details of its agreement with the state-owned Gokhran of Russia. Updates are needed on ALROSA’s current liquidity position and progress in refinancing its material short-term debt before S&P can reinstate the ratings.
In other ALROSA news, the miner agreed to a distribution deal with the Antwerp diamond industry, under which ALROSA will sell $500 million in rough diamonds to 15 local companies in 2009. The deal could also be extended on a long-term basis. Its immediate terms were welcomed by the industry following a cut of rough supplies in January, the Antwerp World Diamond Centre stated.

Blood Emeralds Fund Pakistan Taliban

The emeralds of Pakistans Swat Valley region are now under the control of the Taliban, which in a span of four months has occupied two of the largest mines in the area. The group has started round-the-clock mining operations, from which workers share up to 50 percent of their daily find with the Taliban. Most emeralds mined here range from just under 1 carat to more than 5 and fetch anywhere from $1,000 to more than $100,000 in the international market.

Rapaport Weekly Broadcast

In our second of three segments examining the U.S. economic outlook for 2009, Michael Niemira, the chief economist for the International Council of Shopping Centers (ICSC), discusses the timeframe and measurement of consumer spending for luxury goods; consumer confidence and the reaction of media headlines; and what jewelry wholesale suppliers should prepare for in the coming quarters.

Watch: http://www.diamonds.net/news/NewsItem.aspx?ArticleID=25971

WHOLESALE & RETAIL:

Shoppers Stay Cautious, Sales Decline Eases

Total retail sales at major chain stores in March fell 2.1 percent compared with one year ago. Macys sales fell 9 percent, Nordstrom posted a 13.5 percent decline, Saks reported a drop of 24 percent, and Costco Wholesale sales fell 5 percent. Discount giant Wal-Mart Stores fell short of expectations as sales rose 1.4 percent. Upscale retailers were among the worst performers, as consumers continued to spend frugally on luxury items.

Hong Kong Feb. Retail Sales -13%, Jewelry Sales -3% for Year to Date

February retail sales in Hong Kong fell 13 percent to $2.6 billion. This drop was due in part to the timing of the Lunar New Year, which in 2008 fell out during February, but occurred in January this year. The volume of sales was down 14 percent in February. The government also revised its estimate of total retail sales in January to $3.6 billion, an increase of 7 percent. Combined January and February 2009 retail sales decreased 2 percent compared with the first two months of 2008. Jewelry, watch and clock sales dropped 3 percent for the combined period.

Sotheby’s Hong Kong Jewels Sale Garners $16M

Strong demand for larger diamonds of 5 to 15 carats helped Sotheby’s generate $16 million in sales at its magnificent jewels and jadeite auction in Hong Kong. The auction was sold 67.6 percent by lot. The top lot was a pair of very fine, marquise-shaped D color flawless diamond earrings, weighing a total of 16.58 carats, which sold for $1.7 million. The second lot was a pear-shaped, 13.53-carat D color flawless loose diamond, which sold for $1.5 million. The headlining lot and a number of high-value jadeite lots, however, failed to sell.

Russias EPL Diamond Opens in Beijing

EPL Diamond Group opened a retail office to sell diamonds in Beijing. The company is Russias third-largest diamond exporter and now has wholesale offices in Israel, the U.S. and Shanghai. The Beijing office marks a new era for the company, which will now start its retail trade development abroad.

Portlands Zell Bros. Could Close Unless a Buyer Steps Up

Zell Bros. Jewelers, the only store in the Bailey Banks & Biddle chain that doesnt carry that brand name, faces an uncertain future if a buyer is not found quickly. Zell’s employees said they had been asked not to talk to the media, but have reportedly told customers that the company intends to close the store.

Michael Hill Maintains Aggressive Discounting to Stimulate Sales

Michael Hill International has discounted merchandise more aggressively to stimulate sales, resulting in lower margins for the chain. In a trading update for the first nine months of the fiscal year, same-store sales at Australia were up 1 percent, while same-store sales in both New Zealand and Canada fell about 9 percent. Sales for the nine months increased 10 percent to $260 million. Even though the market is very difficult in the U.S., the retailer hopes to grow its chain of stores there to about 800.

SunDiamond to Open Ontario Diamond Cutting Facility

HRA-SunDiamond is setting up the first diamond cutting and polishing facility in Ontario, Canada. The factory, operated by SunDiamonds subsidiary Crossworks Manufacturing, will be completed later this year and will employ about 50 people. Crossworks will receive rough diamonds from the De Beers Canada Victor Mine through SunDiamond, which is a Diamond Trading Company (DTC) Canada sightholder. The new facility will cut and polish an estimated $25 million worth of rough per year. DTC has pledged to supply 10 percent of its output from Victor to Ontario-based cutters and polishers.

Sothebys NY Magnificent Jewels Sale Features Important Diamonds

Sotheby’s New York spring sale of Magnificent Jewels will be held on April 23, 2009. The top lot is a fancy blue diamond ring set with a cut-cornered rectangular modified brilliant-cut stone weighing 8.24 carats, which is expected to bring in excess of $2.5 million. A fancy vivid yellow diamond ring, signed Jacob & Co., is set with a 15.61-carat center stone and 2.55 carats of flanking half-moon white diamonds; it has a presale estimate of $925,000 to $1 million. A pair of fancy vivid yellow diamond earrings featuring matched emerald-cut stones weighing 7.47 and 7.32 carats has a presale estimate of $800,000 to $1 million. Also on offer at the Sothebys sale are a cushion-shaped diamond ring of 15.4 carats, F color, VS1 clarity, with a presale estimate of $1 million to $1.5 million, and a diamond ring set with an emerald-cut 13.98-carat, G color, VS2 clarity diamond with a presale estimate of $450,000 to $500,000.

Bonhams April London Sale Features Diamonds, Colored Stones

Bonhams next London sale of fine jewelry will be held on April 29, 2009, and will include diamonds, colored gemstones, natural pearls and signed jewels. Of particular interest is a brilliant-cut 5-carat, D diamond ring with a presale estimate of $117,600 to $147,000 (GBP 80,000 to GBP 100,000). A 6.87-carat Burmese ruby is estimated at $11,760 to $17,640 (GBP 8,000 to GBP 12,000), and an emerald and diamond ring by Bulgari set with a fine gem-quality Colombian 5.59-carat emerald with minor clarity enhancement, has a presale estimate of $44,100 to $58,800 (GBP 30,000 to GBP 40,000).

Elan to Launch Kathy Ireland Jewelry Line

Elan Luxury Collections is launching a line of jewelry designed by Kathy Ireland, chief designer and chief executive officer (CEO) of Kathy Ireland Worldwide. The new line will feature collections of fine jewelry, including bridal and fashion products, inspired by Kathy Ireland’s hallmark design styles.

Group Measures Favorability of Retail Chains within the Blog World

A new study by CARMA International, measuring the favorability of the coverage of top retailers within the blog world, found that wholesale clubs are favored over department stores when it comes to online praise or rants by consumers. CARMA analyzed consumer-written blog posts during January and February that specifically addressed leading retailers in the U.S. The media analysts identified wholesale clubs Costco, BJs and Sams Club as being viewed quite favorably by bloggers, with Costco the most commonly praised retailer in the study. CARMA found that Kohls, Dillards, Macys and Sears rated below average in favorability to bloggers, while Target, Nordstrom, Saks and Neiman Marcus registered readings slightly more favorable than the study’s neutral benchmark. Wal-Mart was the subject of the largest number of negative blog posts, many of which were highly critical of the retailer, calling it “evil” or other similar invectives.

Six in 10 Consumers Dont Know When They Will Resume Spending

The majority of consumers polled by the Jewelry Consumer Opinion Council (JCOC) were not prepared to spend money on jewelry — and 58 percent overall said they had no idea when theyd even feel comfortable spending on discretionary items again. JCOC asked 666 panelists to weigh in on their willingness to spend on nonessential consumer goods. Ten percent said theyd feel comfortable spending within six months, another 10 percent said theyd spend within 12 months and 15 percent said it would take more than a year for them to be comfortable spending on nonessentials again. Once things turn positive again, 19 percent of the polled consumers told JCOC theyd indulge in vacation plans and travel, 13 percent would spend on home furnishings and dining out, and 5 percent said theyd spend on fine jewelry, high-definition televisions and childrens items.

GENERAL NEWS:

Number of Unemployed U.S. Workers Jumps Past 13M

The U.S. unemployment rate jumped to 8.5 percent in March, the highest since 1983, as a wide range of employers eliminated a net total of 663,000 jobs. Most economists expect that the job cuts will continue for much of this year. Since the recession began in December 2007, the economy has lost a net total of 5.1 million jobs, with almost two-thirds of the losses occurring in the past five months. The number of unemployed people climbed to 13.2 million in March. If discouraged workers and workers forced to work part-time are factored in, the unemployment rate rises to 15.6 percent for March.

Pakistan Adds Gems, Jewelry to Duty-Free Deal with Sri Lanka

Pakistan introduced duty-free measures for an additional 4,000 products imported from Sri Lanka, including gems and jewelry, as part of the free-trade deal between the two nations that originated in 2002. Duty-free access for these products into Pakistan became effective on March 20, 2009.

EGL USA Transforms HPHT Analysis with Fluorescence Cage

EGL USA offers the first visual observational criteria for identifying high-pressure high-temperature (HPHT) stones, using the “fluorescence cage” — a specific luminous intersecting pattern found along the cut edges and vertices of facets on particular colored HPHT-treated Ia diamonds with less than strong fluorescence. The visual effect is so distinct that it can be seen with a fluorescence microscope. Researcher Dr. Inga Dobrinets of EGL USA identified the cage in collaboration with Professor Alexander Zaitsev of the College of Staten Island/CUNY. Early research indicates that the effect results from the movement of optically active impurities that are triggered by the HPHT process.

Basel Show Visitor Count -12%

The number of visitors to the 2009 BaselWorld watch and jewelry show fell 12 percent to 94,900, according to event organizers. Foreign buyers constituted 68 percent of the total visitor count, compared with 64 percent in 2008. The organizers reported that 71 percent of attendees surveyed said they intended to return for the 2010 event. A total of 1,952 exhibitors from 45 countries showcased their products in an exhibition area of 160,000 square meters (1.7 million square feet).

GIA London to Host Business Development Strategies Class

The Gemological Institute of America (GIA) London is offering an intensive five-day class on business strategies to help both students and professionals develop entrepreneurial and leadership skills. In particular, the courses will instruct attendees to analyze real-world campaigns and business decisions, and will challenge students to understand the strengths and weaknesses of the jewelry industrys best practices. There will be three Business Development Strategies classes, each with a duration of five days. Tuition for the classes will be GBP 715. The available dates are April 20 to 24, 2009; June 22 to 26; and November 9 to 13. Each runs from Monday to Friday, from 9 a.m. to 4 p.m.

WHO IS NEWS:

Tiffany CEO Receives $4M in 2008 Compensation

Michael J. Kowalski, chairman and chief executive of Tiffany & Co., received $4.2 million in compensation for 2008, which was a drop of 33 percent from one year ago. Kowalskis salary was $1 million, additionally, he was awarded stock-based compensation with a value of $2.9 million on the date granted. However he declined a performance-based bonus which was $1.8 million one year ago. Other company officers also did not receive a performance-related bonus, although all individuals were eligible, as the company reached its goal of full-year earnings of $243 million.

Beasley Resigns from Helzberg Diamond

Marvin Beasley resigned as chairman and chief executive officer (CEO) of Helzberg Diamond. Beryl Raff took over the role this week. Raff has spent more than 25 years in the retail jewelry industry — most recently, she was executive vice president and general merchandise manager of fine jewelry at J. C. Penney.

Jerry Hammond Appointed Director at Color Craft

Color Craft appointed Jerry Hammond as its new director of international sales. Hammond has 28 years of jewelry experience, in both retail and wholesale, and for the past nine years he has been in various sales management roles at Sunstone, Hot Diamonds USA, and the Colibri Group.

JBT Honors Jewelers Mutual, Names Matthies to the Board

The Jewelers Board of Trade (JBT) recognized Jewelers Mutual Insurance Company for its long-standing commitment to the trade organization. JBT also named Joel Matthies, chief information officer (CIO) at Jewelers Mutual, to the JBT board.

DIAMOND MINING NEWS:

Junior Diamond Miners Remain Upbeat Despite Depressed Prices

Firestone Diamonds confirmed the "significant economic potential" of its BK11 project in Botswana. Even with prices that have halved during the past six months, it could generate annual revenues of $30 million with 60 percent to 70 percent operating margins. BK11 could be producing as soon as mid-2010, for an investment of only $7.5 million. African Diamonds has secured a mining license for the AK6 discovery in the face of opposition from partner De Beers, which had sought to mothball the project to conserve resources. DiamondCorp has restarted underground mining at the Lace kimberlite in South Africa. The company sold a small parcel of diamonds in March for $39.51 per carat. Petra Diamonds will test the market for larger stones when it auctions off the 7.03-carat Cullinan blue diamond, which carries an estimated value of $5.8 million to $8.5 million.

De Beers Reduces DRC Exploration

De Beers is planning to scale back its exploration operations in the Democratic Republic of the Congo (DRC) due to the weak economic environment. When economic conditions improve, De Beers will assess new opportunities for prospective ground-holdings in the DRC. De Beers has reduced production by closing a number of its mines worldwide, and endeavored to cut expenses. As a result, the company said it will consolidate its focus on those areas that it believes have the highest potential for new economic discoveries.

South African Reserve Bank Blocks Sale of Angel Diamonds

The South African Reserve Bank has blocked the proposed sale of a stake in Angel Diamonds to Mantle Diamonds, according to Thabex, which owns 70 percent of Angel. The bank reasoned that Angel could not “be disposed of on extended credit terms” and that “the issue of Mantle ordinary share to Angel shareholders would constitute a loop structure.” Accordingly, shareholders are advised that Thabex will not proceed with the disposal of its interest in Angel, and a circular to shareholders will not be sent.

Gem Diamonds Freezes Gope Project

Gem Diamonds has put its Gope project in the Central Kalahari Game Reserve on the back burner, as the London-headquartered diamond producer seeks to cut its costs and stay afloat in the face of the global economic crisis. The company also suspended its debt-financing exercise — which was intended to raise the $500 million required for Gopes capital expenditure — because of lack of debt capital in global markets. Gem Diamonds acquired Gope Exploration Company, the holder of a retention license covering the Gope 25 kimberlite deposit in the Central Kalahari Game Reserve, from De Beers and Xstrata in May 2007 for $34.1 million.

Diavik Completes Successful Winter Road Resupply

Cold temperatures in Canadas Northwest Territories (NWT) helped maintain excellent conditions for the Tibbitt-to-Contwoyto seasonal Winter Road during the 2009 season, enabling Diavik Diamond Mines to successfully complete its resupply on March 22. The road was officially closed on March 25, with all users completing their winter resupply. This year, Diavik trucked 2,779 loads totaling 91,362 metric tons (100,709 tons) of fuel, cement, explosives, equipment and other materials, over the ice road. All of the roads users trucked a total of 5,377 loads, or 173,195 metric tons (190,915 tons), during the 2009 season.

ECON WATCH:

Week ending April 8, 2009
Apr. 8 Apr. 2 Chng.
$1 = Euro 0.755 0.740 0.015
$1 = Rupee 50.3 50.4 -0.1
$1 = Israel Shekel 4.14 4.16 -0.02
$1 = Rand 9.14 9.12 0.02
$1 = Canadian Dollar 1.24 1.25 -0.01

Precious Metals
Gold $880.80 $904.00 -$23.20
Platinum $1,175.00 $1,155.00 $20.00

Stock Indexes Chng.
BSE 10,742.34 10,348.83 393.51 3.80%
Dow Jones Avg. 7,837.11 7,978.08 -140.97 -1.77%
FTSE 3,925.52 4,124.97 -199.45 -4.84%
Hang Seng 14,474.86 14,512.97 -38.11 -0.26%
S & P 500 825.16 834.38 -9.22 -1.11%
Yahoo! Jewelry Index 605.43 620.23 -14.80 -2.39%

USA
Birks & Mayors $0.45 $0.43 $0.02 4.65%
Blue Nile $33.40 $33.50 -$0.10 -0.30%
Charles & Colvard $0.32 $0.36 -$0.04 -11.11%
DGSE Companies, Inc. $0.84 $0.80 $0.04 5.00%
Fuqi International $4.86 $4.95 -$0.09 -1.82%
JCPenney $22.60 $21.93 $0.67 3.06%
Kohls $45.12 $45.00 $0.12 0.27%
Lazare Kaplan $1.48 $1.12 $0.36 32.14%
LJ International $0.64 $0.71 -$0.07 -9.86%
Macys $10.32 $10.16 $0.16 1.57%
Man Sang $2.46 $1.90 $0.56 29.47%
Movado Group $8.31 $8.18 $0.13 1.59%
Nordstrom $18.67 $18.40 $0.27 1.47%
Saks $2.19 $2.39 -$0.20 -8.37%
Signet $13.33 $13.26 $0.07 0.53%
Sothebys $9.75 $10.28 -$0.53 -5.16%
Tiffany $22.49 $23.33 -$0.84 -3.60%
Wal-Mart $52.61 $53.63 -$1.02 -1.90%
Zale $3.51 $2.78 $0.73 26.26%

EUROPE
Bulgari €3.32 €3.39 -€0.07 -2.06%
Bijou Brigitte €81.01 €81.55 -€0.54 -0.66%
Esa €2.75 €2.23 €0.52 23.32%
Golay-Buchel CHF 1,300.00 CHF 1,220.00 CHF 80.00 6.56%
LVMH €50.38 €51.29 -€0.91 -1.77%
Pinault P-R SA €54.85 €55.62 -€0.77 -1.38%
Richemont SA CHF 19.54 CHF 20.00 -CHF 0.46 -2.30%
Swatch Group CHF 149.90 CHF 151.10 -CHF 1.20 -0.79%
Theo Fennell (pence) 16.65 20.00 -€3.35 -16.75%

INDIA (rupee)
Classic Diamond 10.86 8.57 2.29 26.72%
Gitanjali Gems 63.15 49.65 13.50 27.19%
Rajesh Exports 30.75 28.00 2.75 9.82%
Ren. Jewellery 23.85 21.15 2.70 12.77%
Su-Raj Diamonds 25.55 22.40 3.15 14.06%
Titan 804.60 812.60 -8.00 -0.98%
Zodiac JRD 11.55 11.00 0.55 5.00%
Suashish Diamonds 118.80 114.70 4.10 3.57%

NEW ZEALAND
Michael Hill NZD 0.53 NZD 0.48 NZD 0.05 10.42%

MINING STOCKS
(pence unless noted)
USA
Anglo American $9.64 $9.72 -$0.08 -0.82%
CANADA
Archangel CAD 0.08 CAD 0.11 -CAD 0.03 -23.81%
Harry Winston CAD 3.45 CAD 3.89 -CAD 0.44 -11.31%
Mountain Province CAD 0.93 CAD 0.86 CAD 0.07 8.14%
Peregrine Diamonds CAD 0.69 CAD 0.65 CAD 0.04 6.15%
Rockwell Diamonds CAD 0.06 CAD 0.07 -CAD 0.01 -9.09%
Shore Gold CAD 0.27 CAD 0.28 -CAD 0.01 -3.57%
Stornoway Diamond CAD 0.17 CAD 0.21 -CAD 0.04 -19.51%
True North Gems CAD 0.10 CAD 0.10 CAD 0.00 0.00%
UK (pence)
African Diamonds 19.5 22.0 -2.5 -11.36%
BHP Billiton 1,357.0 1,513.0 -156.0 -10.31%
Firestone Diamonds 19.5 22.3 -2.8 -12.56%
Gem Diamonds 122.3 125.0 -2.8 -2.20%
Gemfields 2.6 2.8 -0.2 -7.27%
Mano River 3.6 3.6 0.0 0.00%
Mwana Africa 4.4 4.5 -0.2 -3.33%
Namakwa Diamonds 22.5 20.5 2.0 9.76%
Petra Diamonds 32.0 25.0 7.0 28.00%
Rio Tinto plc 2,243.0 2,536.0 -293.0 -11.55%

INDIA MARKET REPORT:
Polished: Stable demand in the local market, with some buyer price resistance for certs against the higher asking prices.

Round
-1 point: Fair demand: +$300 whites; $250-$350 TTLC.
-2 point: Fair demand: +$350 whites; $125-$150 TTLB; $300-$400 TTLC.
2-7 point: Good Demand: $350- $500 whites.
Fair demand: $100-$150 TTLB; $300-$400 TTLC.
8-18 point: Good Demand: +$650 whites.
Fair demand: $150-$200 TTLB & $350-$450 TTLC.
20 points: Fair demand: +$600 whites.
25 points: Fair demand: +$700 whites.
33 points: Good demand: +$900 whites.
50 points: Good demand: $1000-$1500 & +$2000 whites.
75 points: Good demand: +$2000 whites.
1 carat+: Good demand: +$2000 whites.

Princess
-3 point: Fair demand: $300-330 whites.
+3 point: Fair demand: $350-$380 whites.
+9-18 point: Fair demand: +14 pts $600-$650 whites.
20 point: Fair demand: $700-$750 whites.
25 point: Fair demand: $800-$850 whites.
50 point: Fair demand: $600-$1,000 whites.
75 point: Fair demand: $1,000-$1,200 whites.
1 carat+: Good demand: +$1,500 whites.

Marquise
-6 point: Good demand: $400-$500 whites.
Fair demand: $250-$350 whites.
+7-18 point: Good demand: $600-$700 & +14 pts $800-$850 whites.
20 point: Fair demand: $900-$1,000 whites.
25 point: Fair demand: $1,100-$1,200 whites.
33 point: Fair demand: $1,300-$1,500 whites.
50 point: Fair demand: $1,600-$1,800 whites.
75 point: Fair demand: $1,100-$1,400 & $2,600-$2,800 whites.
1 carat+: Fair demand: +$1,200 whites.

Tapers & Baguettes
Fair demand: $600-$800 +5mm whites. $250-$325
2mm-2.5mm whites; $350-$400, 2.5mm-3mm whites;

          $400-$450 3mm-4mm, $500-$600 4mm – 
          5mm & $175-$250 +2mm-3mm whites

Múdry sa teší objaveniu pravdy, hlupák falošnosti.

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23. 10. 2006

#70 - 27. 4. 2009, 20:23

Rapaport TradeWire - Friday, April 24, 2009
News: Prices stabilizing as dealers regain confidence due to improving stock markets. Rough prices increasing as manufacturers re-enter the market. Healthy demand for goods under the carat as bridal market resists recession. Indian market improving with strong trend toward cash transactions. BHP Billiton FY3Q diamond production +53% to 951,000 cts. with higher yields at Ekati mine. Debswana predicts 50% fall in ‘09 production to 18 mil. cts. Christie’s New York jewels sale at $19 mil. with 84% sold by lot and a 30.02 ct. pear-shaped D, IF diamond selling for $4 mil ($133,000/ct.) Sotheby’s New York sells $11.1 mil. with 68% sold by lot. Gitanjali plans $60 mil. retail expansion in ‘09. LMVH 1Q revenues flat at $5.2 mil., but watch and jewelry sales -27% to $199 mil. PPR 1Q revenues -3% to $1.1 bil., but Gucci Group sales +5%. Belgium March polished exports -33% to $713 mil., rough imports -50% to $446 mil. Indias March polished exports -24% to $1.1 bil., rough imports -57% to $311 mil.

ANNOUNCEMENTS:

RAPAPORT BREAKFAST AT JCK VEGAS

"State of the Diamond Industry" by Martin Rapaport
Monday – June 1, 2009, 8:00-10:00 a.m.

Fair Trade Jewelry Conference, 1:00 – 4:30 p.m.

Venetian Hotel - San Polo Ballroom (Level 3)
RSVP: conference@Diamonds.Net

Limited Seating. Reserve your space now!

For Additional Rapaport JCK information visit
http://www.diamonds.net/Events/


Rapaport International Diamond Conference
New York City - September 10, 2009

Save the Date
Reserve your space early. Email IDC@diamonds.net


RAPAPORT TENDER IN NEW YORK

Polished Diamond Tender – By Appointment Only
April 28-30, 2009

Large selection of melee, Rounds and Fancies, -6.5 to 1ct+,
from promotional to very fine qualities. Excellent opportunity
for diamond and jewelry manufacturers specializing in
inexpensive diamonds. Contact Myles Schakler at
NYTender@diamonds.net or +1-212-354-9800


RAPAPORT INDIA – CAREER OPPPORTUNITY

Energetic motivated assistant manager
with diamond industry experience and excellent references.
University educated with fluent English, Gujrati, and computer skills.
Resume to: career.India@rapaport.com


RETAIL QUOTE:

"Were seeing a glimmer of improvement in foot traffic and sales. If we can all hang in there until were into the May selling season, we should see a second wind — the first being this past December. In the meantime, our business model for right now is: 1) Live out of present inventory (and accounts receivable) to the greatest extent possible, 2) reduce expenses, 3) use Internet as well as face-to-face marketing, 4) sales staff must use teamwork and turnovers to engage all customers, 5) move out old inventory that will not be replaced, and finally, 6) pay vendors as fast as possible; when the economy finally gets healthy again, they will remember it forever."

Gary Gordon
Samuel Gordon Jewelers, Oklahoma City

WORLD NEWS:

U.S. Mar. Jewelry CPI +3%

The consumer price index (CPI) for jewelry in the U.S. rose 3 percent year-on-year to 156.84 points during the month of March. The monthly index — which is based upon a reference point of average prices in 1986 set at 100 points — was just over one point higher than it was in February. For the watch and jewelry categories combined, the index for March increased 3 percent to 149.4 points.

Weekly U.S. Chain Store Sales Dip Slightly, Jewelry Sales Weaken

Weekly chain store sales fell 0.1 percent for the week ending April 18, 2009, compared with one year ago, according to the latest report published by the International Council of Shopping Centers (ICSC) and Goldman Sachs. Week-to-week sales slipped 0.4 percent, following three consecutive weekly sales increases. The books and jewelry categories were were particularly weak, said Michael P. Niemira, ICSC chief economist. ICSC Research anticipates that April sales will increase by 1 percent or more, year-over-year.

Gold Production Resumes in Zimbabwe

In response to high gold prices and relaxed restrictions on gold miners, Zimbabwean gold producers have started to reopen mines that became uneconomic over the last five years. Mwana Africa is restarting its Freda Rebecca mine, Caledonia Mining is reopening the Blanket mine, New Dawn Mining Corporation will start production at the Turk mine and Metallon Gold now plans to re-equip and reopen two of its five mines.

Ban Calls for Election Timetable in Cote dIvoire

UN Secretary-General Ban Ki-moon called upon the Independent Electoral Commission (IEC) to set a realistic target date for presidential elections in Cote dIvoire and to make public a comprehensive electoral timeline with clear milestones. Significant progress has been made toward restoring the country to peace and security and a new government, elected by the end of 2009, would have the legitimacy to capitalize on these gains. The continued lack of a clearly set date for the elections, on the other hand, would adversely affect the future of the country and prolong the suffering of the people. The UN has embargoed diamonds and other items from the country until a free and fair presidential election has been held.

U.S. Consumer Optimism Surges But 65% Still Cant Make Ends Meet

While there is evidence that people feel more optimistic about the economy, 65 percent said its difficult for them and their families to get ahead, according to an Associated Press-GfK poll. More than one-third know of a family member who recently lost a job, and more than 90 percent consider the economy an important issue, the highest ever in AP polling. And yet, the percentage of consumers saying the country is headed in the right direction rose to 48 percent, up from 40 percent in February; 44 percent say the nation is on the wrong track. Not since January 2004 has an AP survey found more "right direction" than "wrong direction" respondents.

Rapaport Weekly Broadcast

In the final installment in our series about what economic trends may bring for the U.S. in 2009 and beyond, Pam Danziger, president of Unity Marketing, explains how the luxury markets are faring during this recession. She explains how this recession is different from past bumps in the road, and what jewelers should be doing to weather the current downturn.

http://www.diamonds.net/news/NewsItem.aspx?ArticleID=26069

DIAMOND STATS:

Belgium March Exports/Imports (YTD = Year to Date)

2009 % Change   YTD 2009 % Change 
($ Mil) from 08   ($ Mil) from 08 
          

Polished Exports $713 -33% $2,030 -36%
Polished Imports $718 -36% $1,916 -37%
Net Polished Exports $(6) 90% $113 4%

Rough Imports $446 -50% $1,184 -59%
Rough Exports $440 -52% $1,089 -65%
Net Rough Imports $6 N/A $95 N/A

Net Diamond Account $12 45% $19 93%

India March Exports/Imports (YTD = Year to Date)

2009 % Change   YTD 2009 % Change 
($ Mil) from 08   ($ Mil) from 08 
          

Polished Exports $1,140 -24% $2,774 -33%
Polished Imports $616 -17% $1,611 -12%
Net Polished Exports $524 -31% $1,163 -50%

Rough Imports $311 -57% $739 -71%
Rough Exports $60 -13% $165 -5%
Net Rough Imports $251 -61% $574 -76%

Net Diamond Account $273 151% $589 N/A

RETAIL & WHOLESALE:

LVMH 1Q Revenue for Jewelry Segment -27%

LVMH Moet Hennessy Louis Vuittons first-quarter revenue was basically flat from a year ago, up 0.4 percent to $5.2 billion (EUR 4 billion). The watch and jewelry segment suffered, however, as revenue plunged 27 percent to $199 million (EUR 154 million). LVMH attributed the drop to global destocking by watch and jewelry retailers and to the considerable exposure of TAG Heuer and De Beers Diamond Jewellers to the U.S. market. In a separate statement, LVMH officially denied press reports claiming that the luxury goods company is in discussions to divest Moet Hennessy, its wines and spirits division.

PPR Revenue -3%, Gucci +5%

First-quarter sales for French retailer PPR fell almost 3 percent to $6.2 billion from the same period in 2008, and were down nearly 5 percent at constant exchange rates. Sales at Gucci Group rose 5 percent to $1.1 billion, but decreased by 3 percent at constant exchange rates. PPRs sales outside of France during the quarter grew to 63.6 percent of its total sales, from 62.4 percent one year ago. Watches and jewelry under the Gucci brand experienced difficult trading conditions in March.

Diamonds Hold Steady at Sotheby’s New York Auction

Fine signed and decorative jewelry sold well at Sotheby’s New York sale as no matter what happens in the economy strong prices are always realized for these items. The sale tallied up $11,098,638 and was sold 68 percent by lot and 55 percent by value. The top lot of the sale was a diamond necklace, which sold to a European private collector for $698,500. An Asian private collector nabbed the second top lot of the sale — a 13.98-carat GVS2 diamond ring for $482,500, or $34,514 per carat. Although the sale lacked the very special large DIF stones that generally sell at auction there was still movement in diamonds, but mostly in the under 10-carat range. Notably, sapphires, emeralds and natural pearls did well at this sale. Natural pearls are becoming a hot item at auction as buyers from the Gulf region scoop up these wonders of the sea prized for their rarity.

Diamonds Strong at Christie’s NY Auction

Christie’s New York Jewels sale fared remarkably well; the 208 lots — much fewer than usual for this time of year — garnered $19,293,675 against a presale estimate of $15 million. The sale was 84 percent sold by lot and 85 percent by value. The top lot of the day, a 30.02-carat pear-shaped D internally flawless type IIa diamond, sold to a private for $4,002,500, or $133,000 per carat, nicely surpassing its estimate of $2.5 million. Of the top 10 lots, nine were diamonds; the tenth was a Burmese ruby and diamond ring.

eBay 1Q Revenue -8%, Profits -29%

First-quarter revenue at eBay fell 8 percent to slightly more than $2 billion. This was primarily due to the decline of eBays core Marketplaces business unit, consisting of eBay, Shopping.com, StubHub, Kijiji and other ecommerce sites, which recorded an 18 percent decline in revenue to $1.2 billion. Approximately 54 percent of Marketplaces revenue came from markets outside of the U.S. The company recorded net income of $357.1 million, a drop of 22 percent.

Bulgari Warns of 1Q Loss

Bulgari is likely to post a first-quarter net loss when it announces its results on May 12. Representatives of the luxury brand expect a slight year-on-year improvement in revenue by the end of 2009, however, and predict that this Christmas season will be better than 2008. Bulgaris net profit fell 45 percent to $107 million in 2008.

Chopard Reports Strong High-End Sales

Caroline Gruosi-Scheufele, Chopards copresident, acknowledged that Chopard is feeling the impact of the economic crisis, but not disastrously and not across the board. The $25,000 to $50,000 range is hurting, but the high end of the market, pieces over $100,000 is holding strong. Even though the crisis is causing some companies, and their customers, to lower their profiles, Gruosi-Scheufele said that she believed that it was more important than ever for Chopard to promote its brand.

Bidz Sells Its Colibri Assets to Richline

Bidz.com sold all of the intellectual property and tools that it bought from the Colibri Group to Richline Group. The company sold the trademarks of the brands Krementz, Van Dell, Shiman, Dolan & Bullock, Taylor Avedon, Angelite, Skal, Skalet, Magical Years, Little Miss Pride, Sideways, Darling Diamonds, Fingerprint Locket and others, which it acquired during Colibris bankruptcy auction. Bidz.com agreed in principle to buy future closeouts from Richline on a nonexclusive basis. The company estimated the value of the purchased inventory at approximately $6 million.

Arthur Diamonds Files Chpt. 7

Arthur Diamonds of Los Angeles, California, filed for Chapter 7 bankruptcy in March. As of February 23, 2009, the company listed assets of $317,483, of which $41,287 consisted of inventory and $275,494 of accounts receivable. However, the court filing explains that $241,986 of these receivables appear to be uncollectible. Arthur Diamonds liabilities were listed at $756,409.

Deutsche Bank Downgrades Blue Nile

Deutsche Bank downgraded Blue Nile shares to "Sell" from "Hold." While falling diamond prices have helped Blue Nile save money, consumer demand for jewelry is slowing. The Seattle-based ecommerce sites page views are dropping, while consumers access to the credit necessary to buy jewelry is still tightening, and the companys "underinvestment" in its international division could hurt future growth. Deutsche Bank maintained an $18 price target on the stock. Shares of Blue Nile are up 70 percent so far in 2009 after touching a low of $18.34.

Recession Forces Jewelers to Explore Varied Services

As customers rein in spending on jewelry, jewelers are diversifying to keep their businesses going during the recession. Some are doing more custom work and repairs. One retailer estimated that his repair business had increased about 15 percent as more people are getting pieces repaired rather than buying new. Other retailers are diversifying by buying and reselling gold. The profit on buying gold, about 10 percent, is smaller than that on estate jewelry, but the turnaround time is quicker.

Indias Jewelry Sector to Shrink but Two Retailers Grow

The market size of Indias gem and jewelry segment is likely to shrink 4 percent to $22.3 billion in 2009, according to the Associated Chambers of Commerce and Industry of India (Assocham). Meanwhile, The Retailer magazine has listed two jewelers, Orra and Sia, on its list of Indias 100 Best Retailers for 2009, based upon their size, operations and future growth plans, along with their potential for growth during 2010 and beyond. Orra plans to launch 13 outlets during 2009, focusing on large-format stores with international standards. Sia plans to launch 20 outlets during 2009.

Gitanjali Expects Higher Gold Sales During Akshaya Tritiya

Gitanjali Group is aiming to sell 400 kilograms (882 pounds) of gold coins during Akshaya Tritiya, an auspicious day for buying precious metals. Sales of gold coins in India are expected to rise by 40 percent to 7 to 8 metric tons (7.7 to 8.8 tons) during Akshaya Tritiya, which falls on April 27 this year. In dollar terms, gold has fallen 7 percent in the past month.

TD Retail Offers LJC Card Program to U.S. Jewelers

TD Retail Card Services has introduced the L.J.C. Card program — revolving private-label consumer credit card that can be used for purchases of products or services at any participating merchant — to independent U.S. jewelers and fashion and accessories retailers. Merchants opening an account for an individual consumer can have their store name embossed on the card. Retailers can offer customers special financing options, including three-, six- and 12-month same-as-cash payment plans, as well as two additional low-APR programs. TD Retail Card Services bought the rights to operate a private-label credit card portfolio for Birks & Mayors in January.

Austin & Warburton to Shift All Business to the Web

A strong wholesale business and a burgeoning online retail presence have allowed the owners of 50-year-old Austin & Warburton Fine Jewelers in Ann Arbor, Michigan, to close its storefront and serve its custom jewelry customers from a nonpublic manufacturing operation and office. The company runs two ecommerce websites, www.austinandwarburton.com and www.theparentandchild.com. The move will drop the companys overhead costs by 90 percent.

Gitanjali To Expand, Joins with MMTC

Gitanjali Group unveiled a joint venture with state-owned MMTC, Indias largest gold trader, to make gold and diamond jewelry. The company also announced a $59.5 million plan to triple the number of its stores to 450 locations. Gitanjali is targeting total sales of $1.3 billion in fiscal 2009-10, up from $992.5 million in fiscal 2008-09.

Devji Celebrates Solitaire Week in Bahrain

Devji, a Bahrain-based jeweler, is celebrating its "solitaire week" with a promotion, giving customers a chance to buy certified solitaire diamonds at any Devji outlet at very competitive prices until Monday.

Naledi Adds Two S. African Diamond Jewelry Designers

The Naledi Jewelry Collection introduced two new contributing designers and their collections: The Naledi Love Letter Collection created by Daniel Jacobs of Stellenbosch, South Africa, and The Circle Of Life Collection by Linki Van Zyl of Pretoria, South Africa. The collections were exhibited at this past weeks Instore Show in Chicago, and will be shown at the JCK Show in Las Vegas. The diamonds used in the Naledi Collection are mined in Botswana and manufactured at the groups diamond-cutting factory in Gaborone.

WHO IS NEWS:

JAPAC Expands Board, Initiates Multi-Year Fundraising Campaign

The Jewelers of America Political Action Committee (JAPAC) expanded its board of directors and embarked on a two-year drive to raise funds from Jewelers of America members. Newly appointed board members include:

John Hayes, Goodman’s Jewelers, Madison, Wisconsin
Artie Bennos, Simms II Jewelers, Winchester, Massachusetts
Woody Justice, Justice Jewelers, Springfield, Missouri
Carolyn Pope, Crews Jewelry, Grandview, Missouri
Jeffrey Corey, Days Jewelers, Waterville, Maine
Peter Engel, Fred Meyer Jewelers, Portland, Oregon
Scot Congress, Congress Jewelers, Sanibel Island, Florida

WJA to Honor von Furstenberg, Runci, GIA in July

The Women’s Jewelry Association (WJA) will hold its annual awards for excellence gala July 27, 2009, at Pier 60 in New York City. The group plans to honor fashion designer Diane von Furstenberg with its 2009 “Hall of Fame Lifetime Achievement” award and Matt Runci, president of Jewelers of America, with the 2009 “Ben Kaiser Award.” WJA will also honor the Gemological Institute of America (GIA) with its inaugural “Corporate Award for Excellence.”

Du Plessis Becomes Chair of Rio Tintos Board

Jan du Plessis assumed the role of chairman of the board of Rio Tinto. He joined the board as a nonexecutive director on September 1, 2008, and his appointment as chairman was announced on March 18, 2009. Du Plessis replaces Paul Skinner, who retired at the conclusion of the Rio Tinto Limited annual general meeting Monday.

Finlay Promotes Knudsen to VP of Merchandising, Marketing

Finlay Enterprises promoted Karin Knudsen to executive vice president of merchandising and marketing for Finlay Jewelry. She replaces Leslie A. Philip, who plans to retire on May 26, 2009. Finlay also announced that Joseph M. Melvin, executive vice president and chief operating officer (COO) plans to retire as of June 30, 2009.

A. Jaffe Appoints Midwest Sales Manager

Gail Kenny joined A. Jaffe, taking on the role of Midwest regional sales manager. Kenny has more than 25 years of experience in the jewelry industry. She held the position of regional sales director at Tag Heuer for 10 years, and spent 15 years in various retail segments at Henry Birks, including bridal sales and merchandising. Kenny has held positions at Carl F. Bucherer Fine Timepieces, Escada Fine Jewelry, Bulgari and, recently, at Penny Preville.

GENERAL NEWS:

Three Young Diamond Merchants Found Murdered

Three young diamond merchants from Bangalore, India — Mir Saini Abbas, Shahur Raza and Zahir Abbas, aged between 22 and 25 — were allegedly strangled to death and their bodies buried on the banks of the Banas river. The men came to the area to sell diamonds worth over $30,000 (INR 1.5 million), which are thought to have been stolen. The trio was also carrying $30,000 (INR 1.5 million) cash, which is also missing. A murder charge has been registered against unknown persons.

Iraq Orders Hunt for Jewelry Store Gunmen

Iraqs prime minister ordered the hunt to be stepped up for the gunmen behind the deadly robberies of two jewelery shops run by Iraqs tiny Sabean minority. The attacks, in which a total of seven people, including three Sabean goldsmiths, were killed, took place on Sunday in western Baghdad. Security forces have arrested four of those behind the robberies, according to authorities, but other suspects are on the run.

Second Brother Gets Life for Double Murder in Jewelry Store

The second of two Muskegon Heights, Michigan, brothers has received a mandatory sentence of life in prison with no possibility of parole, in connection with the slaying of 61-year-old Robert Karell, owner of R.K. Jewelers in downtown Grand Haven, and 77-year-old customer Louis Paparella of Roosevelt Park in July. Andersons brother, Dimitri, was convicted of the same charges in February and also sentenced to life without parole.

FBI Links Thefts of Super Bowl Rings, Brinks Coins

The heist of the New York Giants Super Bowl rings from an Attleboro, Massachusetts, jewelry plant in 2008 and the theft of four tons of coins from a Brinks armored car facility in Ohio in January appear to be the work of the same crew, according to the FBI. The two "sophisticated and well-planned" crimes showed similar methods, including entry by means of holes the thieves cut in buildings rooftops. Brinks is offering a $50,000 reward for information leading to their capture.

Florida Bill Seeks to Stop Theives from Mailing In Gold

In an attempt to prevent thieves from abusing mail-in services, a law has been drafted in Florida that would require companies that offer cash for mailed-in gold jewelry to photograph all jewelry they buy, to hold all pieces for 10 days, and to get sellers drivers license numbers and sworn statements that they own the items they are selling. The bill has passed the Florida State Senate and is awaiting approval by the House. The mail-in companies claim, however, that stolen goods account for no more than a fraction of one percent of their business, and that the proposed restrictions are the result of pressure from pawn dealers and secondhand shops that are angry about mail-order businesses cutting into their market.

WJA Invites Design Competition Entries for DIVA Gives Back

The Women’s Jewelry Association (WJA) invites jewelry designers to submit entries for its DIVA Gives Back design competition. The entry deadline is May 4, 2009, and awards will be announced during the WJA DIVA Awards Party on June 1 at Lavo in Las Vegas’ Palazzo Hotel. The competition is open to all women.

Muscat International Jewelry Exhibition Held

The Muscat International Jewelry Exhibition (IJEX) was held at the Oman International Exhibition Centre and was reportedly unaffected by the global economic crisis. The five-day exhibition, which ran from April 15 to 19, was organized in collaboration with Sama Expo of Bahrain. Over 100 companies, representing 15 countries, participated, exhibiting jewelry, gemstones, gold, watches, fashioned silver, pearls, diamonds and white gold.

CIBJO Posts 2009 Congress Program Online

CIBJO, the World Jewellery Confederation, has posted its program for the upcoming 2009 CIBJO Congress online at http://congress2009.cibjo.org.

DMCC Vault Opens for Operation

The Dubai Multi Commodities Centres (DMCC) new vault, intended for both short- and long-term storage of precious metals and other high-value products, will be operational starting on April 26, 2009. The vault will be open to local and international banks, corporates, high net-worth individuals and DMCC members. DMCC has appointed Brinks Global Services for the day-to-day operations and management of the new vault.

DIAMOND MINING:

BHP Billiton 3Q Diamond Production +53%

BHP Billiton’s third-quarter diamond production rose 53 percent to 951,000 carats, due in part to higher grades achieved at Ekati. The amount of ore processed increased 29 percent to 1.3 million metric tons (1.4 million tons). Production at the mine fell 7 percent to 2.3 million carats in the nine months through March, despite a 10 percent rise in the amount of ore processed.

Debswana to Cut 2009 Production by 60%

Debswana plans to cut production by more than 60 percent, even as the company resumes production at its three mines. Production for this year will be in the region of 15 million carats. The Diamond Trading Company Botswana (DTCB) has suggested that it they might only be able to sell between 18 and 20 million carats. Debswana is cutting back to even less than that because the company has inventory remaining from weak sales in December and November.

Angolan Mine Minister Seeks New Investors

Makenda Ambroise, Angola’s mining minister, urged new investors to come to Angola to help the country’s mining sector diversify and become less dependent on diamonds. Angola plans to explore for iron and gold, as well as materials that can be used in the construction sector. Sales of Angolan gems recently surpassed $70 million per month, up from around $25 million at the start of the year, according to the minister, but he lowered Angolas 2009 diamond production target to around 9 million carats — around the same as in 2008 — from a previous estimate of around 10 million.

Gemstone Duel Continues on the AIM

This past Thursday, the latest chapter in the takeover battle between Gemfields Resources and Tanzanite One drew to a close, when Tanzanite won what it is calling "overwhelming shareholder approval" for resolutions to increase its authorized share capital and amend its bylaws. Most of the votes cast in favor of the resolutions, however, were attached to nil-paid, unlisted "B shares" with temporary voting rights that expire this Friday, issued by the company after Gemfields embarked on its bid a year ago. Gemfields called this a deblorable way of overriding the companys shareholders, but Gemfields original takeover bid — in which it offered to buy shares from individuals rather than make a formal offer — showed a similar unconcern for shareholders rights. Both companies were able to circumvent normal regulations because Tanzanite One is incorporated in Bermuda.

Diavik Exceeded 08 Northern Apprentice Commitment

Diavik Diamond Mines, both directly and through contractors, employed 19 northern and Aboriginal apprentices in 2008, exceeding its commitment to employ between eight and 18. Four northerners successfully completed their apprenticeships, making 17 Diavik apprentices who have achieved journeyperson certification. Diaviks operational workforce averaged 808; of these, 540 were priority-hire Aboriginal and northern non-Aboriginal workers.

ECON WATCH:

For the week ending April 23, 2009

Apr. 23 Apr. 16 Chng.
$1 = Euro 0.768 0.759 0.009
$1 = Rupee 50.1 49.8 0.3
$1 = Israel Shekel 4.26 4.18 0.08
$1 = Rand 8.96 8.92 0.04
$1 = Canadian Dollar 1.24 1.21 0.03

Precious Metals
Gold $903.30 $875.70 $27.60
Platinum $1,182.00 $1,207.00 -$25.00

Stock Indexes Chng.
BSE 11,134.99 10,947.40 187.59 1.71%
Dow Jones Avg. 7,957.06 8,125.43 -168.37 -2.07%
FTSE 4,018.23 4,052.98 -34.75 -0.86%
Hang Seng 15,214.46 15,582.99 -368.53 -2.36%
S & P 500 851.92 856.30 -4.38 -0.51%
Yahoo! Jewelry Index 720.21 716.94 3.27 0.46%

USA
Birks & Mayors $0.44 $0.42 $0.02 4.76%
Blue Nile $38.65 $39.39 -$0.74 -1.88%
Charles & Colvard $0.41 $0.41 $0.00 1.23%
DGSE Companies, Inc. $1.10 $0.86 $0.24 27.91%
Fuqi International $4.96 $5.09 -$0.13 -2.55%
JCPenney $26.68 $26.19 $0.49 1.87%
Kohls $44.30 $45.02 -$0.72 -1.60%
Lazare Kaplan $1.21 $1.17 $0.04 3.42%
LJ International $1.13 $1.10 $0.03 2.73%
Macys $12.62 $12.52 $0.10 0.80%
Man Sang $2.15 $2.32 -$0.17 -7.33%
Movado Group $8.59 $6.77 $1.82 26.88%
Nordstrom $21.14 $21.24 -$0.10 -0.47%
Saks $4.30 $3.10 $1.20 38.71%
Signet $16.24 $15.04 $1.20 7.98%
Sothebys $9.95 $9.96 -$0.01 -0.10%
Tiffany $26.80 $26.50 $0.30 1.13%
Wal-Mart $48.86 $50.78 -$1.92 -3.78%
Zale $4.41 $5.04 -$0.63 -12.50%

EUROPE
Bulgari €3.93 €4.01 -€0.08 -2.00%
Bijou Brigitte €79.66 €88.49 -€8.83 -9.98%
Esa €3.10 €3.29 -€0.19 -5.78%
Golay-Buchel CHF 1,180.00 CHF 1,300.00 -CHF 120.00 -9.23%
LVMH €54.35 €53.06 €1.29 2.43%
Pinault P-R SA €57.74 €58.37 -€0.63 -1.08%
Richemont SA CHF 20.70 CHF 21.12 -CHF 0.42 -1.99%
Swatch Group CHF 161.60 CHF 167.00 -CHF 5.40 -3.23%
Theo Fennell (pence) 16.70 18.00 -€1.30 -7.22%

INDIA (rupee)
Classic Diamond 11.87 12.95 -1.08 -8.34%
Gitanjali Gems 67.00 84.50 -17.50 -20.71%
Rajesh Exports 28.35 32.45 -4.10 -12.63%
Ren. Jewellery 27.00 29.55 -2.55 -8.63%
Su-Raj Diamonds 26.50 28.25 -1.75 -6.19%
Titan 763.15 797.65 -34.50 -4.33%
Zodiac JRD 12.50 12.50 0.00 0.00%
Suashish Diamonds 140.65 140.00 0.65 0.46%

NEW ZEALAND
Michael Hill NZD 0.54 NZD 0.58 -NZD 0.04 -6.90%

MINING STOCKS
(pence unless noted)
USA
Anglo American $9.87 $10.66 -$0.79 -7.41%
CANADA
Archangel CAD 0.08 CAD 0.08 CAD 0.00 0.00%
Harry Winston CAD 5.15 CAD 5.81 -CAD 0.66 -11.36%
Mountain Province CAD 1.29 CAD 1.03 CAD 0.26 25.24%
Peregrine Diamonds CAD 0.63 CAD 0.56 CAD 0.07 12.50%
Rockwell Diamonds CAD 0.05 CAD 0.06 -CAD 0.01 -16.67%
Shore Gold CAD 0.42 CAD 0.42 CAD 0.00 0.00%
Stornoway Diamond CAD 0.18 CAD 0.19 -CAD 0.01 -5.26%
True North Gems CAD 0.10 CAD 0.11 -CAD 0.02 -13.64%
UK (pence)
African Diamonds 22.5 22.0 0.5 2.27%
BHP Billiton 1,385.0 1,398.0 -13.0 -0.93%
Firestone Diamonds 24.0 23.4 0.6 2.56%
Gem Diamonds 130.0 132.0 -2.0 -1.52%
Gemfields 4.3 3.6 0.7 19.72%
Mano River 4.3 3.8 0.5 13.33%
Mwana Africa 4.6 6.1 -1.5 -24.63%
Namakwa Diamonds 29.5 23.8 5.8 24.21%
Petra Diamonds 40.0 35.5 4.5 12.68%
Rio Tinto plc 2,571.0 2,474.0 97.0 3.92%

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