First off, things look pretty good at the opening at the Vegas show. From the short time I was out on the floor, things seems as crowded and hurried as ever. There was some trepidation before the show opened, but I am sensing the mood has turned around and people are expecting a good show. Also, generally good feedback from Luxury and Couture.
And now, from the desert, here (a little late) is as much news as I could scrape up….
-Is the middleman not dead?
– Does anti-trust prevent De Beers from buying new mines?
– “Low single digit percent” increase at DTC sight. “Prices of large better quality stones are expected to increase significantly with lower prices for smaller, medium to low quality, rough diamonds,” says Rapaport.
– The Financial Times on commoditization of diamonds, the U.K.conflict diamond survey, and new owners for Fabrege.
–The New York Post on all the new jewelers in New York.
–Sunday Herald (Scotland) article on Sierra Leone diamond digging.
-Mineweb on De Beers and Russia. The most interesting stuff is in the final paragraphs, filled with rumors about Anglo getting rid of the Oppenheimer’s management contract for De Beers, keeping its mining assets, and giving them its “downstream investments” (the retail chain?) It says this does not bode well for Gareth Penny, an “Oppenheimer appointee ” and hints at “disunity” in the Oppenheimer clan. Weird stuff is afoot, people…
– Tiffany’s first quarter results: Retail sales, profits and U.S. sales all up 15%.
– Antwerp retires the name HRD.
– South Africa’s new mining plan.
And that’s it. Have an enjoyable – even if it’s work-filled – weekend …