Baselworld 2017 opens with 13% fewer exhibitors
The message from executives who spoke at the Baselworld opening press conference on Wednesday was clear: We know the situation is bad, and we don’t really want to talk about it.
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Will retail help De Beers ‘Build Forever’?
Taking control of the De Beers Diamond Jewellers (DBDJ) retail operation from LVMH has completed De Beers transformation from a mining company into a diamond luxury group.
Forget Millennials, meet the ‘Midult’
Millennial spending habits have been discussed and analyzed ad nauseam over the past several years, and, according to experts, this laser focus may be to the detriment of retailers.
Dominion Diamond turns down takeover
Dominion Diamond Corporation has publicly rebuffed a $1.1. billion takeover bid from Washington Companies, saying the Missoula, Mont.–based conglomerate lacks the industry know-how to run the Canadian diamond miner.
De Beers buys out LVMH, now owns all of retail chain
De Beers has bought out longtime partner LVMH and now owns 100 percent of the De Beers Diamond Jewellers retail chain. No price was given.
‘Mines to Market’ forum highlights
India’s Gem & Jewellery Export Promotion Council (GJEPC) is celebrating 50 years by hosting leaders from across the diamond industry. Rapaport News presents live updates from the two-day conference covering mining, manufacturing, marketing and politics.
Swatch Group sees sales, profit sink in 2016
Swatch Group reported a drop in net sales and income in 2016 amid a “very challenging economic environment” in which watch sales continued to decline. In its full-year financial report released Thursday, the company said net sales were $7.58 billion, an 11 percent decrease year-over-year at both current and constant exchange rates.
Agarwal to buy $2.5B stake in Anglo American
Shares in Anglo American rose 9 percent on Thursday after Indian billionaire Anil Agarwal announced his intention to invest $2.45 billion (GBP 2 billion) in the mining conglomerate.
UAE nominates Maryam Al Hashemi for KP Committee Position
Ahmed Bin Sulayem, the 2016 KP Chair, has nominated Maryam Al Hashemi, the UAE KP Director, as the 2017 Chair of the Committee of Participation and Chairmanship (CPC) of the Kimberley Process.
D.E.F. announces powerhouse line-up of honorees for “Diamonds Do Good” awards in Las Vegas
The Diamond Empowerment Fund (D.E.F) announced a powerful program for its “Diamonds Do Good” Awards gala set for June 4 at the Four Seasons Ballroom in Las Vegas. Acclaimed actor and social justice advocate David Oyelowo, who starred in such films as Selma and A United Kingdom will receive the International Vanguard Award.
Alrosa posts 41-percent jump in revenue to $5.4 billion in 2016
Alrosa reported a 41-percent jump in revenue to 317.1 billion rubles ($5.4 billion) for 2016 IFRS (International Financial Reporting Standards) results.
Synthetics: cheaper but more expensive
December 2014, New York Post : Synthetic diamonds have the same composition, color and clarity as traditional ones and they cost up to 50 percent less. June 2015, Daily Telegraph : Lab-grown diamonds can cost up to 50 per cent less.