The IDEX Online Newsletter, July 17, 2008‏

< JULY 17TH, 2008 >

Announcing IIJS 2008, August 7 - 11

IDEX Online Memo

Chaim Even-Zohar
Future Headline: ‘DTC Sightholder Jailed for Attending Sight’
This headline is not imaginary, just premature. No foreign DTC Sightholder has yet been jailed in South Africa for... Go to full memo

IDEX Market Report

Tamar Katzav, Natalie J Raps, Ronit Scheyer
The U.S. market is in the second week of its annual summer vacation and is quiet for the most part. In Antwerp, slow activity was noted, a situation expected to continue into the coming week.

Go to full report

IDEX Online Research: U.S. May Jewelry Sales Listless After limping along for several months, jewelers in the U.S. market were looking forward to Mother’s Day in May. This important calendar event was supposed to be an excellent opportunity for merchants to boost their sales. Unfortunately, it did not happen. Jewelry sales, both for the total product category and for U.S. specialty jewelers, rose by the smallest amount so far this year.

(July 17, '08, KEN GASSMAN) Go to Full Article

Richemont’s Jewelry Sales €737 Million in Q1 The Richemont Group’s jewelry sales totaled €737 million ($1.173 billion) in the April-June quarter, a 25 percent increase in constant rates and 16 percent in actual rates. Overall sales by the group grew by 13 percent at actual exchange rates. Underlying sales growth in the three month period was 20 percent.

(July 16, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

IDEX Online Research: Consumer Jewelry Expenditures – 2006 Customer Base Broadens The year 2006 was a great year for U.S. jewelers. Not only were sales strong, but the industry’s customer base expanded significantly beyond those consumers who have historically bought jewelry. Based on newly released data from the U.S. government, a broader consumer segment purchased jewelry in 2006 than ever before.

(July 15, '08, KEN GASSMAN) Go to Full Article

Rio Tinto in Wal-Mart Partnership for “Traceable” Jewelry Rio Tinto announced Tuesday a partnership with Wal-Mart to provide gold and silver for the mega-retailer’s new Love, Earth jewelry collection, which it says will be “fully traceable” and “responsibly produced.” Rio said in a statement that this is part of Wal-Mart’s initiative to achieve 100 percent traceability for all the gold and silver jewelry sold at its stores

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Court Rules in Favor of eBay in Tiffany Trademark Infringement Case A U.S. district judge ruled on Monday that eBay cannot be held liable for trademark infringement, meaning it is not responsible for the sale of counterfeit Tiffany & Co. items on its website.

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

H.Samuel and Forever Diamonds Offer Promotion with OK Magazine H.Samuel has joined up with Forever Diamonds and OK Magazine to launch a competition offering customers the chance to win £1,000 ($1,989) towards their wedding, as well as having their engagement announced in a full-page spread in the magazine, complete with pictures and an interview.

(July 13, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Dimexon Global Ad Campaign Features Diamonds as Elements of Nature The Dimexon Group, a DTC Sightholder and Rio Tinto Select Diamantaire, has launched its second global advertising campaign, “Elements,” which was shot across multiple locations throughout South Africa.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Tiffany to Open Second Toronto Location Tiffany & Co. plans to open its second location in Toronto, in spring 2009. The 6,200-square-foot store will be opened in Yorkdale Shopping Centre and will feature a 25-foot-high façade with a Mondrian-like stone patters, a Black Zimbabwe marble arch and an Altas Clock above the entrance.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

JA Seminars to Highlight Strategies for Jewelers in Challenging Financial Year Jewelers of America (JA) will hold two days of free educational seminars July 27-28 during the JA New York Summer Show. The seminars are part of JA’s “Thriving in 2008” initiative, a series of programs the association has launched to “ensure in-store business success in a challenging financial year,” JA said in a release.

(July 16, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Whitehall Reaches Settlement in Religious Discrimination Suit A discrimination lawsuit filed last year against Whitehall Jewelers has been settled. The suit was filed by a Muslim woman from California, who alleged that, after she was laid off, she was turned down for re-employment because she had begun wearing a traditional Muslim headscarf.

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Goldfine Forms Talins, A Venue for Upcoming Israeli Designers Providing a platform to budding designers with unique creations, Israeli jewelry firm Goldfine has opened Talins, a venue for an all-Israeli collection of jewelry and watches that builds on cooperation with the Shankar design collage.

(July 17, '08, EDAHN GOLAN) Go to Full Article

Lab Focus: The Market Is Responding The July issue of IDEX Magazine and our focus on diamond grading labs, “Beyond the Four C’s,” has generated many responses from and within the industry, and we are very pleased with the feedback and comments it generated.

(July 17, '08, DANIELLE MAX) Go to Full Article

Premier Gem Adds Online Inventory Premier Gem Corporation has launched a revamped web site and added an online inventory lookup tool for its retail customers.

(July 16, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

23% Rise in Value, 19% Drop in Volume of U.S. Polished Diamond Imports Rising value and sliding volume is the trend in U.S. polished diamond imports, doing so for the fifth consecutive month. Gross imports rose 22.8 percent to $2.311 billion while net imports jumped 53 percent to $1.038 billion.

(July 14, '08, EDAHN GOLAN) Go to Full Article

India’s Polished Diamond Exports Buck Trend India’s polished diamond exports rose 21.78 percent in June, contrary to the sharp decline noted in both Belgium and Israel. India exported $1.235 billion worth of goods weighing a total of 3.324 million carats.

(July 17, '08, EDAHN GOLAN) Go to Full Article

Belgium Imports Exceed Exports in June Despite a 19.93 percent rise in exports in June, Belgium imported more polished diamonds last month then it exported – both in value and in volume. This may be the result of the JCK Las Vegas show that opened May 30 and ended June 3. On a semi-annual basis, the trading center saw imports rise sharply in value, while declining in volume.

(July 13, '08, EDAHN GOLAN) Go to Full Article

Gem Diamonds’ Yellow Diamonds Tender Nets $28,860 p/c A tender of four intense and vivid polished yellow diamonds held in Antwerp fetched an average price of $28,860 per carat. The Gem Diamonds goods, mined at Ellendale, had a total weight of 15.7 carats.

(July 14, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

WFDB Admitted to Consultative Forum of Financial Action Task Force The World Federation of Diamond Bourses (WFDB) has been admitted as a member of the Financial Action Task Force’s (FATF) consultative forum. The FATF announcement followed a plenary meeting of the organization last month, during which the WFDB’s merits for membership were discussed.

(July 13, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

HRD Sells 1,000th D-Scope HRD Antwerp NV has assembled and sold its 1000th D-scope, a microscope and analysis tool for diamond companies, used in examining both rough and polished diamonds.

(July 13, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Russia’s Q1 Rough Exports Total 4.54 Million Carats A total of 4.54 million carats of gem quality rough diamonds were exported by Russia in the first quarter of 2008, earning a total of $403.45 million, Russia’s Finance Ministry said in a report.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

U.S. Rough Diamond Traders Clear Stocks As May Exports Double The U.S. imported $87.96 million worth of rough diamonds in May, a 16.4 percent year-over-year growth and doubled (109.4%) its exports to $45.56 million, resulting in a net import value of $42.4 million of goods. The average value of gross imports was a high $2,283 per carat, while exported goods averaged only $388 p/c.

(July 15, '08, EDAHN GOLAN) Go to Full Article

Belgium Rough Diamond Trade Figures Demonstrate Traders’ Squeeze A 11.31 percent rise in the value of rough diamond exports, and a 2.51 percent decline in its volume in the first half of the year, underscore the large shift Belgium’s rough diamond trade is making. The trend highlights the sharp rise in rough diamond prices, while Antwerp is slowly yet continuously decreasing the volume of trade.

(July 13, '08, EDAHN GOLAN) Go to Full Article

Firestone Diamonds Raises $10 Mln in Placement Firestone Diamonds, an AIM-quoted diamond mining and exploration company, has raised £5 million ($10 million), before expenses, from the placement of 5,882,353 new ordinary shares of £0.2 each in the company, with institutional and other investors at a price of £0.85 per ordinary share.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Rockwell Diamonds Q1 Loss Shrinks to $802,532 Rockwell Diamonds Inc on Tuesday announced revenues from sales of C$7.25 million (US$7.26 million) for the three months ended May 31, including revenues from contract sales of C$156,220 (US$156,429) from the sale of 4,943.30 carats, and cost of sales and amortization totaling $7.18 million (US$7.19 million).

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Stornoway Arranges $22 Mln Private Placement Canadian diamond mining and exploration firm Stornoway Diamonds has arranged for a $22 million private placement comprising 24,444,444 common shares at a price of $0.90 per common share to Agnico Eagle Mines Ltd and Lorito Holdings Ltd.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Latin American Minerals Discovers Diamonds in Paraguay Minerals mining and exploration firm Latin American Minerals has reported the discovery of 10 diamonds from its Capiibary Diamond Exploration Property in northeastern Paraguay. The diamonds, recovered during reconnaissance sampling of two small streams, range in size from 0.002 to 0.04 carats.

(July 17, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Petra Takes Over Operations at Cullinan, Completing Acquisition The Petra Diamonds Cullinan Consortium (PDCC), of which Petra Diamonds holds a 37 percent interest, has completed the final stage of its acquisition of the Cullinan diamond mine from De Beers Consolidated Mines.

(July 16, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

VTB Transfers 10.63% Alrosa Stake to Federal Agency VTB Group, Russia’s second largest bank and an Alrosa shareholder, announced Monday that it had sold its 10.63 percent stake in the state-owned diamond mining company.

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

2009 ICA Congress in China Extended to Six Days The 2009 ICA Congress in China has been extended to six days, organizers said, due to the extensive agenda in Panyu, Guangzhou – China’s jewelry manufacturing hub. The event will be held May 5-10 and will include sessions with speakers, debate sessions, excursions as well as golf and tennis tournaments.

(July 15, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

Jewel Art Wins Emerging India Award for Gems and Jewellery Jewel Art, a group company of Asian Star, a leading diamond and jewelry manufacturer and exporter, was the winner of the CNBC-TV18 Emerging India Award for Gems and Jewellery. The winners, across 13 different industry categories, were honored by L N Mittal, chairman and CEO of Arcelor Mittal, at a July 8 function in London.

(July 13, '08, A JEWELBIZ INDIA REPORT) Go to Full Article

Russell Shor Wins AGS Trade Journalism Award Jennifer Heebner and Carrie Soucy won the 2008 Richard T. Liddicoat Journalism Awards in the Industry/Trade Reporting category for “Seal of Disapproval,” in JCK Luxury Magazine. Russell Shor will receive the award in the Trade Journal category, for the Gems & Gemology feature “From Single Source to Global Free Market: the Transformation of the Cultured Pearl Industry.”

(July 16, '08, IDEX ONLINE STAFF REPORTER) Go to Full Article

“Offer A Helping Hand” Yerushalmi Receives Exceptional Exporter Award Yerushalmi Brothers received the 2007 Exceptional Exporter Award at a ceremony at the president’s residency in Israel on Tuesday. This is the second year in a row that the Israel-headquartered company has won the award.

(July 16, '08, EDAHN GOLAN) Go to Full Article

8 Av. Pictet de Rochemont 1207 Geneva, Switzerland