Morning Bites (part 2)

💍Richemont jewellery segment sales rose 2% YoY in 3Q24, in-line with the dynamics seen in 2Q24, according to the retailer’s press-release. Specifically, sales growth was again recorded in almost all regions, except Asia Pacific (-19% YoY): Americas (+10% YoY), Europe (+5% YoY), Middle East and Japan (+15-21% YoY, respectively)

We reiterate our view that the currently solid US demand (53% of global gem-set jewellery trade) could accelerate the release of industry inventories in 4Q24-1Q25, supporting sentiment in the still stressed global diamond market

#diamonds
https://metals-wire.com/sector/Diamonds