Diamond manufacturers adjusted their operations to the current low and declining loose diamond prices and high rough diamond prices. In the backdrop are fixed overhead costs and costly financing, according to traders.
Interview with Rubel & Menasche
In an interview for Rubel & Menasche, The Old Days Are Gone, A New Way Of Doing Business Is Here, Edahn discusses how lab-grown, transparency, Amazon’s low price-point jewelry, Anglo American’s takeover of De Beers, and high retailer fragmentation are influencing the diamond industry today. A few excepts: Lab Grown Lab-grown diamonds are an interesting concept, among other things because …
De Beers’ Sales +11% in 2014
De Beers‘ sales results were announced this morning. The diamond mining company saw a sharp rise in sales, helped by a jump in average price per carat on its rough diamonds. De Beers’ Sales Results Summary Sales: $7.114 billion (+11%) Carats sold: 32.73 million carats (+5%) Underlying EBITDA: $1.818 bln CAPAX: $689 million Return on CAPEX: 15% Highlights from the …
It’s Official: Specialty Jewelers’ Sales Crashed This Holiday Season
American specialty jewelry stores generated $8.87 billion in holiday sales this past November-December Holiday Season, a 4.7% decline compared to the 2013 Holiday Season.
Rio Tinto’s Diamond Sales +5.8% in 2014
Rio Tinto had a good year in diamonds. A strong rise in rough diamond prices had led to an increase in gross revenue from diamonds in 2014 despite a sharp drop in diamond production. Gross revenue increased to $901 million, up 5.8% from $852 million in 2013. Breaking Down Rio Tinto’s Year In 2014, the company mined 13.87 million carats, a …
Japan’s Diamond Imports in 2014: Less for More
Japan’s polished diamond imports edged up in 2014, however, the quantity of diamond imports by carat has declined, according to data recently released by the country’s ministry of finance. Japan is one of the world’s four largest diamond-jewelry consumer markets. In 2014, Japan’s polished diamond imports totaled $888.6 million, up 1.6% over the prior year. The average value of Japan’s diamond …