Current Affairs
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Nov- 2016 -2 November
Diamond prices decline in October
Diamond markets were quiet in October with wholesale businesses closing for the respective Chinese, Jewish and Indian holidays. The latest RapNet Diamond Index (RAPI) from the Rapaport Group also found trading slowed as larger US holiday orders were already filled and dealers shifted to accommodate specific requirements from their retail…
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Oct- 2016 -28 October
Heated discussion at Hatton Garden BID open forum
A heated discussion took place last night (27 October) as members of the jewellery industry attended an open forum to discuss the future of Hatton Garden. The forum was organised by the Hatton Garden Business Improvement District (BID) to discuss its investment plan and address concerns over the future of…
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27 October
Retail employment falls 3% in third quarter of 2016
Retail employment fell 3% in the third quarter of the year when compared with the same period in 2015, according to new data released by the British Retail Consortium (BRC). The fall in employment, which represented the third consecutive quarter for falls in employment, came as the number of retail…
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26 October
Petra diamond production up 30% as diamond market ‘holds firm’
Mining firm Petra Diamonds has reported a 30% increase in diamond production in its latest trading update for the first quarter of the 2016-2017 financial year. The company’s production increased to 1,097,523 carats – up from 842,796 carats in the same period last year. Petra said this was due to…
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24 October
Birmingham Assay Office CEO to step down next year
The Birmingham Assay Office (BAO) has announced that its CEO and assay master, Stella Layton, is to leave the role at the end of March 2017. The BAO also announced that Doug Henry, an experienced managing director who has been responsible for several of the organisation’s key projects over the…
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18 October
New luxury boutique opens after extensive refurbishment
Mappin & Webb has opened a luxury boutique in Tunbridge Wells following extensive refurbishment. The new 750 sq. ft. boutique features a dedicated Rolex sales area as well as a comprehensive collection of Mappin & Webb fine watches and jewellery. The new boutique is located in a historic grade 1…
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17 October
Foreign spend on British high streets soars post-Brexit
UK retailers are enjoying a post-Brexit boom in spending from international consumers, according to the latest figures from Worldpay. In the 10 weeks following the referendum, growth in foreign card spend has increased by 5.8% compared to previous 10 week period. Whilst 6% of this growth increase was witnessed by traditional bricks and mortar retailers,…
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11 October
Iconic 100 Hatton Garden building to be sold by the end of the year
A Singaporean investment company, UOL Group, will acquire the 120 Holborn site in Hatton Garden by the end of the year. The site incorporates the iconic 100 Hatton Garden building, which houses many jewellery businesses including the London Diamond Bourse (LDB), along with retail units along Hatton Garden. UOL announced…
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10 October
Brexit strategy ‘must focus on fair deal for consumers’, says BRC
The British Retail Consortium (BRC) has called on the government to put consumers first in the forthcoming Brexit talks. In a letter to Secretary of State for International Trade Liam Fox, the BRC said the government’s strategy must focus on finding opportunities for lowering import costs as well as avoiding…
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7 October
First drop in gold price since Brexit ‘likely to spur jewellery demand’
The price of gold has fallen for the first time since the Brexit announcement in June, dropping 3% to $1,300 per ounce on 4 October. Consumers and investors may see the price decline as a good buying opportunity, according to the latest report from the World Gold Council (WGC). It…
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