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Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities. Mumbai, India—The Indian diamond industry enters the fourth quarter having been on a roller coaster ride for much of the last two years. There have been multiple twists and turns, and ups and […]
The Natural Diamond Council (NDC) has filled a complaint with India’s advertising watchdog about a Kalamandir Jewellers ad for lab-grown diamonds. The Advertising Standards Council of India (ASCI), which received the complaint from the NDC, lists the case as informally resolved on its website, and said the contested ad was “withdrawn.” However, Kalamandir disputes that characterization, noting […]
More importantly, how will retailers pivot once these goods cease to be profitable? The conversation about synthetic diamonds has reached a fever pitch as oversupply and cheaper production costs continue to push down prices and trade-in values, even while consumer exposure and demand rise. Meanwhile, the natural-diamond industry, smarting from man-made diamond competition and its […]
Geopolitical and economic forces are disrupting the industry, but there’s opportunity to be had in the decline of retailers’ synthetic margins, diamond-jewelry resale and a $72 trillion inheritance boom. The diamond markets are in crisis as we enter a period of great transformation. While it is important to remain optimistic, we must also be realistic […]
Rapaport Magazine breaks down the leading options on the market, from physical tracers to user-driven blockchains. Technology firms have been tackling the challenge of diamond traceability for many years. Now that interest in tracking systems is growing, tech providers are pushing their solutions, which tend to fall into three categories: systems that match the diamond […]
Antwerp industry veteran Isidore (Isi) Mörsel joined the Rapaport Diamond Podcast to share the inside story on the urgent and controversial issues affecting the Belgian and global diamond trades. Mörsel, director of manufacturer Dali Diamond and president of the board of the Antwerp World Diamond Centre (AWDC), related how the city was originally on course […]
Lucara Diamond Corp. has recovered a massive diamond weighing 1,094 carats from its Karowe mine in Botswana, the second over 1,000 carats in the last month. The “extraordinary” stone was detected during the processing of kimberlite from the EM/PK(S) portion of Karowe’s south lobe, known for yielding large, high-value diamonds, Lucara said Monday. The diamond […]
Factories focus on melee amid slump in demand for larger sizes. The Indian diamond industry has a habit of using vacation seasons to reset the market. The main time for this is Diwali, when factories shut down for longer or shorter stints depending on demand levels. August is a less significant closure period, but it […]
Tiffany & Co. has teamed up with the CFDA to present American jewelry designers with a new award. Inclusivity, excellence and innovation are the key criteria used to select the winner. Tiffany & Co. x CFDA Jewelry Designer Award While Cartier’s “Talents Horlogers de Demain” prize honors young apprentice watchmakers from Switzerland, France and Germany, with applications […]
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has issued two general licenses that will allow the import of previously banned “grandfathered” diamonds in the United States. The term “grandfathered” refers to rough or polished diamonds that were mined in Russia or whose origin cannot be determined, but were purchased prior to the implementation […]
The Antwerp World Diamond Centre (AWDC) has reelected Isidore Mörsel as president of its board, following a brief first term at the helm. The AWDC first appointed Mörsel, the CEO of Dali Diamond Company, in October, to succeed David Gotlib, who resigned in September. The organization held its board elections two weeks ago, it said Friday. He will serve […]
The natural diamond industry navigated a challenging 2023. Demand was impacted by the bridal catch-up effect after COVID-19 restrictions eased, macroeconomic headwinds, and increasing demand for lab-grown diamonds (LGDs), particularly in the US. In addition, short-term supply was affected by changes in midstream and downstream stock levels. This resulted in a weakening of the value […]
