News
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Jul- 2020 -16 July
Diamond sales plummet at De Beers
Rough diamond sales at De Beers slumped by 96% to $56m (£44.6m) in the second quarter of the year, down from $1.3bn recorded the year prior. This was largely driven by lower volumes, which plunged by 97% to 300,000 carats in the prios, while prices also fell. It comes after…
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16 July
NAJ set to cut jobs
The NAJ has confirmed it is facing a “number” of redundancies following a widespread restructuring programme across several trade associations. The proposed plan was confirmed by the NAJ following the publication of a statement from the British Allied Trades Federation (BATF) interim CEO, which was sent to all federation and…
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16 July
Usdaw welcomes compulsory wearing of face coverings in shops
Retail trade union Usdaw has welcomed the mandatory wearing of face coverings in shops, but warns that it can only be effective alongside existing social distancing and hygiene procedures. Earlier this week wearing a face covering in retail shops and supermarkets will be made compulsory from the 24 July. It…
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15 July
Inhorgenta cements plans to go ahead in open letter
Inhorgenta Munich, a jewellery and watch trade show that attracts international visitors, has published an open letter in support of its event that is set to take place in February 2021. The letter was signed by 35 members from the watch, jewellery and gemstone communities across the world. The annual…
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15 July
Everledger reveals revamped blockchain platform
Everledger has announced the launch of a new version of its blockchain platform, with features that match the supply-and-demand of diamonds based on the customer criteria. The group said the renewed platform will bring “additional transparency” to the diamond industry by highlighting key characteristics of stones, such as diamond quality,…
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15 July
Swatch Group reports 46% drop in sales
Swatch Group has reported a 46% drop in sales in the first half of the year, due to the coronavirus pandemic. Although sales figures nearly halved, the group reported a 21.4% operating margin in its watches and jewellery segment for the month of January. Swatch Group, which owns brands such…
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15 July
Watches of Switzerland launches ‘by personal appointment’ service
The Watches of Switzerland group has announced the launch of its ‘by personal appointment’ service following the re-opening of its stores. From this week forward, customers can now access a real-time booking system online through either the Goldsmiths, Mappin and Webb or Watches of Switzerland websites, and arrange an appointment…
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14 July
Alrosa sales tumble in June
Diamond mining giant Alrosa saw sales plummet 86% year-on-year to $31.3m (£25m) in the month of June, attributing the fall to delayed purchases from customers. Rough sales crashed by 89% to $24.8m (£19.8m) in the period, down from the $36.2m (£29m) reported in May. Polished revenues, however, soared to $6.5m…
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14 July
June retail sales show signs of recovery
Retail sales increased by 3.4% in June, against a decrease of 1.6% in June 2019, marking the first signs of growth registered since the UK lockdown began. This is according to the latest BRC–KPMG retail sales monitor, which found that the increase in retail sales to be above the three-month average decline of…
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14 July
Face coverings to be compulsory in shops from 24 July
Wearing a face covering in retail shops and supermarkets will be made compulsory from the 24 July, it is set to be officially announced later today (14 July). It is thought that those who are found to be flouting the new rules may be faced with a fine of up…
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