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With banks still skittish about lending to the industry, ABN Amro’s diamond and jewelry division, generally considered the industry’s largest lender, has launched a “borrowing base verification program,”
U.S. online jewelry sales have increased rapidly in recent years, but observers note that thin profit margins and consumers’ reluctance to buy jewelry online have prevented the Internet from becoming a major sales channel for jewelers.
New York – The Diamond Empowerment Fund again will hold its Diamonds in the Sky Gala during Las Vegas market week this year, this time honoring Prime Minister Narendra Modi of India.
Okay, so I know you’ve heard about Lady Gaga’s heart-shape engagement ring designed by Lorraine Schwartz.
Sotheby’s calls it the Ultimate Emerald-Cut Diamond—and it’s hard to argue. The famed auctioneer will offer a 100.2 ct. D internally flawless emerald cut at its April 21 Magnificent Jewels sale in New York City.
De Beers announced its profits soared more than 33 percent over the past year — a number that may rankle its customers who complain they are losing money on their sight boxes.
Valentine’s Day exposes both the weaknesses and strengths of the diamond and jewelry market. For a product so driven by the idea of commitment and relationships, the holiday should be a coup for the industry, a second Christmas if you like.
De Beers underlying earnings jumped 74 percent year on year to $923 million in 2014, according to Anglo American’s share in the diamond company, as growth was driven by higher rough diamond prices and lower operating costs.
Biel/Bienne, Switzerland– Swatch Group reported Thursday that its profits declined sharply in 2014, amid moves it is making to combat the strong Swiss franc and launch a competitor to Apple Watch.
Tucson, Ariz.–In five years, more than one-fourth of the population will be between the ages of 20 and 34, half of them will be women, and a growing number will be multi-racial or multi-cultural.
Moscow – Fyodor Andreev, who was president of Alrosa from 2009 until he left this past fall for medical reasons, died Friday. He was 48.
New York – Though gold is expected to decrease in price again throughout the year, 2015 could end with a slight uptick, setting the stage for a price recovery next year.