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Petra Diamonds full-year profit slides, resumes Williamson operations

Petra Diamonds said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) slowed 4 percent to $157.2 million from last year’s $164.3 million.

Yesterday

Lucapa posts $1.1 million H1 loss

Lucapa Diamond Company, which has a 40 percent stake in Sociedade Mineira do Lulo (SML), in Angola said it recorded a $1.1 million loss for the six months ended 30 June 2017 compared with a $3.25 million profit, a year earlier.

Yesterday

MIJEX slated for Oct. 24-28 in Muscat

Oman International Exhibition Centre is proud to announce the 8th Muscat International Jewellery Exhibition 2017 (MIJEX) to take place on October 24-28, 2017 at Oman Convention and Exhibition Centre, Muscat, Oman, says a press note from the organiser...

Yesterday

Botswana’s Okavango appoints new managing director

Botswana’s state-owned rough trader, Okavango Diamond Company, has appointed Marcus ter Haar as its managing director.

Yesterday

India's overall exports from gem and jewellery sector down almost 25% in August

Overall exports from the gem and jewellery sector during August 2017 was at $ 2.77 bn, a drop of 24.42% over the $ 3.66 bn exported in the same month the previous year.

19 september 2017

Millennial Women and Luxury, What do They Really Want?

Today

(globenewswire.com) - Despite living in a world of fast-fashion and unlimited choices, millennial women crave the opposite. This sentiment is apparent in the “buy less, buy better” mentality prevalent today and validated in a new study by “Real is a Diamond,” commissioned to understand the relationship between women and luxury goods. After polling nearly 1,000 millennial women, the survey uncovered findings that speak to a preference for ‘the real deal,’ with nearly 9 in 10 (89 percent) looking for authenticity when buying luxury items such as diamonds. Not only are millennials expressing a preference for authenticity in luxury goods, the survey also found they prefer fewer and finer items – with 94 percent of the highest earning millennials expressing a preference for one more expensive item that is genuine, over lots of cheaper ones.

Chinese Consumers Are Driving the High-End Athleisure Market, Which Is Poised to Overtake Luxury by 2020

Yesterday

(jingdaily.com) - China’s health and wellness boom has driven sportswear growth to a point where it threatens to overtake luxury goods by 2020, according to a Euromonitor International report. In many cases luxury brands like Chanel and BMW are even beginning to embrace it. In response, the activewear market is rapidly starting to diversify, making room for smaller brands hoping to capture an increasingly discerning group of Chinese consumers. For these activewear shoppers, working out is less of an event and more of a lifestyle.

How ‘seeds’ and super-hot gas could take down the $80 billion diamond industry

19 september 2017

(washingtonpost.com) - Jerry Singh started his search for a diamond ring with $5,000 and a link to his girlfriend’s Pinterest page. “Honestly, I had no idea what to look for,” he said. “I was clueless.” But the 30-year-old software developer quickly narrowed his search to lab-made diamonds. His girlfriend had voiced concerns about “blood diamonds,” he said, and it was clear that his money would go a lot further if he opted for a gemstone that had been shaped over a few weeks in a lab instead of a billion years underground.

August 2017 Market Report

18 september 2017

(ehudlaniado.com) - During this past July, polished diamond prices declined on average by 0.8% compared to July 2016, making it the 32nd consecutive month that the Mercury Diamond Global Tracker™ (MDGT™) has declined year-over-year. After two years and eight months, polished diamond price declines have yet to end. A further decline in polished diamond prices took place in August. Although some specific items have had a better fate than others, and at some point many polished diamonds posted some sort of price increase, when averaged, the last time the index showed an upward year-over-year movement was during November 2014. Since that time, the index declined by more than 12% (11.9% until July and some more during August). When we published these figures, we said that the ongoing price decline underscores the continued softness of the polished diamond market. I continue to stand behind that statement.

Signet Jewelers Ltd.: A Rough Diamond That Could Shine Again

15 september 2017

(seekingalpha.com) - It has been easy to put down Signet Jewelers (SIG) recently between the stories circling the company of employee harassment scandals and analysts framing it as a pay-day loan company that just happens to sell jewelry. However, in my opinion, these stories have overshadowed a company that has only had one year in the past ten where they had an earnings deficit (during the financial crisis in 2008) while also earning an average ROE of 11.2% over the same period (Morningstar). The pessimism surrounding the company compounded with the pessimism of retail in general these days has opened up the door to a potential value opportunity.

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