Diamond News Archives
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PRESS RELEASE - DELGATTO Diamond Finance Fund ("DDFF or "Company"), an institutional diamond and jewelry finance company has opened offices to better serve its global clientele in the Almas Tower in Dubai, as well as Bedfordview, Johannesburg.
Del Gatto Capital is the largest non bank finance provider to the diamond and jewelry industry. Through its flagship fund, the DELGATTO Diamond Finance Fund, DDFF offers financing all throughout the supply chain in a flexible, fast, alternative structure. Its Co Founder, Mr. Del Gatto is widely recognized as an industry pioneer with more than 25 years of experience, starting as a cutter at the age of 17. "Demand for financing is incredibly strong. Our best clients are the larger diamantaires and junior mining companies, as both of these business models are incredibly cash intensive. Most of these large wholesalers have offices in Dubai, and of course our mining clients are located all throughout Africa, these new offices and the teams we have in place there allow us to better serve them all." Stated Co Founder and Managing Director Andres Lucas.
About DELGATTO Diamond Finance Fund
DELGATTO Diamond Finance Fund, based in New York, is a finance company founded and operated by diamond and jewelry industry experts. Since its inception in 2018, the firm has financed over 250 companies worldwide to date. With offices now in New York, Dubai & Johannesburg, DELGATTO provides financing for diamond miners, as well as to midstream and retail diamond and jewelry companies through its flexible, repeatable, and scalable platform which enables its clients to achieve their financial objectives. To learn more about the firm, please visit www.delgattodff.com[1]....
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(IDEX Online) - Pandora reported an increase in its Q1 revenue, even though it's having to close more retail outlets because of the Covid pandemic.
The Danish jeweler, best known for its charm bracelets, said sales for the quarter were up 13 per cent on organic basis to $719m.
That's in spite of the fact that 35 per cent of its 7,000 points of sale globally were closed for business as of the end of March.
The company said that during Q1 an average of around 30 per cent of its physical stores were temporarily closed. The figure for the end of February was 25 per cent.
Pandora said it maintained its financial guidance for 2021, namely organic growth of above eight per cent and an EBIT margin of above 21 per cent.
Detailed results for the quarter will be published on 4 May....
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(IDEX Online) - Five banks and two diamond brokers in Italy are alleged to have made $590m by selling clients gems for investment at vastly-inflated prices, according to a Reuters report.
Four of the banks - Banco BPM, Banca Aletti, UniCredit and Monte dei Paschi (MPS) - and one broker - IDB - are facing possible prosecution over the alleged fraudulent diamond sales, together with over 100 former employees who are accused of fraud and bribery.
The Intesa Sanpaolo bank and the diamond broker DPI are reported to have reached settlements and paid modest fines to avoid a possible trial.
Documents issued by the Milan-based prosecutors indicate that the allegedly fraudulent diamond sales ended in 2016, after which all the banks started reimbursing clients and many began buying back diamonds at the original selling price.
A judge must now decide whether trials are to take place. Reuters said it had not received responses from any of the named banks or brokers....