After sky-high increases in diamond prices last year, they’re finally coming back down to earth, according to research group Rapaport.
The group said the price for one-carat diamonds dropped 13.7 percent year-over-year in June. During the first half of 2012, prices for one-carat diamonds fell 3.6 percent, with the steepest declines occurring during the latter part of May and through June.
Rapaport also released data relating to the asking price of diamonds, and found that over the last month, prices for one-carat certified diamonds fell 1.6 percent, while 0.3 carat stones fell by 1.2 percent. Half-carat diamonds declined 1.4 percent.
Rapaport attributed the drops to slowing demand in the Far East and India, as the Indian rupee has recently fallen sharply. It also pointed to softening demand in Europe due to the banking crisis and woes surrounding the uncertain global economy. The group added that the decline may be linked to the market correcting itself following diamond-price increases in the first half of 2011.
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.
In honor of Rihanna’s 30th birthday, we took a look back at an interview with the Barbados-native when she was just 18 years old. Here, she talked about her second album, “A Girl Like Me” in 2006. “I want to be me. I want people to fall in love with who Rihanna is, and that’s why I want the album to be about me so people can really find out who this girl Rihanna is, because they only know the ‘Pon de Replay’ girl.” Fast forward 12 years, and she’s released six more albums and has become a powerhouse in both the fashion and music industries. Happy birthday, @badgalriri 🎈(📷: Pavel Antonov) #wwdarchive