MONTH IN REVIEW Updated at
www.jewelleryfocus.co.uk START: THE MONTH’S NEWS BEGAN HERE DIAMONDS
Diamond prices decline in December amid ‘India liquidity crisis’
Polished diamond prices softened in December as Indian liquidity dried up due to the government’s demonetisation policy, which eliminated 500 and 1,000 rupee notes. The RapNet Diamond Index (RAPI),
from the Rapaport Group, found the price of 1-carat, GIA-graded, polished diamonds fell 1.3% during the month, while 3-carat diamonds and 0.50-carat diamonds fell 1% and 2.2%, respectively. Meanwhile, 0.30-carat diamonds were
the only category to record an increase in price, edging up 0.2%. Overall, the price for 1-carat diamonds
declined 3% in the fourth quarter of the year and 5% for the full year. According to the report, sentiment
in the industry improved despite the slowdown as US consumer confidence rose. It said record equity prices and the Federal Reserve’s decision to raise interest rates signal an improving economic outlook in the US, as well as the strong dollar which is expected to increase domestic spending. Despite this, Rapaport said other
markets remain cautious. Chinese tourist spending was restrained as the yuan currency depreciated 7%, but expectations are positive for sales in mainland China as it enters its New Year on 28 January. Indian jewellery sales slumped
and are expected to remain subdued during the first half of the year due to demonetisation. Demand fell for lower- quality diamonds, typically supplied to India’s domestic market.
Follow us on twitter for regular updates:
@Jewellery_Focus 8 JEWELLERY FOCUS The company, which owns
Goldsmiths, Mappin & Webb and Watches of Switzerland, could be sold later this year after its controlling shareholder Apollo Global Management appointed investment bank Jefferies to review its options, according to Sky News. The move comes amid a sales
boom for the company, in which it has benefitted from a surge in demand for luxury watches and jewellery from international tourists after the pound fell in value following the UK’s vote to leave the EU. Aurum, whose retail stores are said
to account for almost half of all watch sales in the UK, is believed to have recorded a 40% jump in luxury watch sales in the months following the referendum in June last year. Speaking to the Leicester Mercury,
Brian Duffy, Aurum’s chief executive, said: “There is no question that we are benefiting from more tourists coming to the UK since the devaluation that followed the Brexit vote. “Private equity businesses tend
to own businesses for no more than seven or eight years - they spend and invest and look to liquidate their investments. It could happen in 2017 - it’s a possibility”.
REGULARS: n NEWS n HALLMARKING FIGURES n TALKING POINT
n COLLECTION OF THE MONTH
n GOLD PRICES n EVENTS
February 2017 |
jewelleryfocus.co.uk BUSINESS
Aurum Holdings set for auction amid sales boom
The owner of luxury watch and jewellery group Aurum Holdings is reportedly preparing to sell the business after posting “strong sales” following the EU referendum.
1
2
3
4
5
6
HIGH STREET
Shop prices show first sign of ‘upward trend’ in
December Shop prices have shown their “first sign of an upward trend” after deflation slowed during December. The British Retail Consortium
(BRC) and Nielsen Shop Price Index revealed overall shop prices fell 1.4% in December, a deceleration from the 1.7% fall during the preceding two months. Non-food deflation accelerated to
1.9%, down from 2.3% in the previous month - this was found to be the weakest deflation rate since June 2015. Helen Dickinson, chief executive
at the BRC, said: “December saw an easing of shop price deflation. Prices were down 1.4% compared [with] last year, but the majority of the categories we monitor, particularly non-food, saw month-on-month increases in prices, with clothing and footwear seeing month-on-month inflation for the first time in nearly two years. “We expect the general trend in
inflation to be upwards over 2017. The magnitude of the exchange rate movement and commodity price rises combined with the increasing costs of doing business means that retailers will have little choice other than to pass on some of these rising costs into prices but effect will be lessened by the intensity of competition.”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84
