Neiman Marcus Closes Dallas Flagship; De Beers Reports 25% Rise in Diamond Spending

June 3: Neiman Marcus Closes Dallas Flagship; De Beers Reports 25% Rise in Diamond SpendingIn this episode:Luxury Retail- Neiman Marcus closing its Dallas flagship store, over 100 years old, as part of Saks Global's Chapter 11 restructuringJewelry & Gems- De Beers: average cost of a natural mined diamond reached $4,063 in 2025, up 25% from 2023- Kao diamond mine going on care and maintenance from July amid rough-price downturn- Christie's Hong Kong Important Watches auction: $36M total, Patek Philippe top lot at $1.8M- Christie's Hong Kong: multi-gem ring sold for $194,500 — five times its high estimateSwiss Watch Exports- Swiss watch exports to the US fell 17% YoY in April- Hong Kong luxury sales (jewelry, watches, clocks, valuable gifts) up 20% YoY in AprilEquity Recap (from yesterday's Closing Price)- Watches of Switzerland (WOSG.L): surged 14% on FY2026 earnings, US sales +24%- Richemont (CFR.SW): near record high CHF 161.80- LVMH (MC.PA): EUR 473, down 26% YTD- Signet (SIG): raised full-year guidanceLinks:- ALT/FNDATA: https://www.altfndata.com- Neiman Marcus / Saks Global: https://www.businessoffashion.com/news/retail/neiman-marcus-to-close-dallas-flagship/- De Beers diamond spending data: https://rapaport.com/news/natural-diamond-spending-and-sizes-rising-de-beers-says/- Christie's HK Important Watches: https://rapaport.com/news/important-watches-auction-rakes-in-36m-at-christies-hong-kong/- Swiss watch exports: https://rapaport.com/news/us-market-continues-to-weigh-on-swiss-watch-exports/Also from ALT/FNDATA:- Luxury Spending — Wednesdays at 8 AM ET- Closing Price — Mon-Fri at 5 PM ET