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Having experienced various acquisitions and restructurings at places where I’ve worked, I have considerable sympathy for De Beers’ 20,000 employees as they digest the news that majority owner Anglo American plans to sell off their company. While big corporate changes sometimes work out for the best, they are rarely pleasant for those who live through them. Prior […]
Provenance transparency together with digitalization mark a significant step to future proof the KPCS WDC President Feriel Zerouki addressing the Closing Session of the Kimberley Process Intersessional meeting in Dubai on May 17, 2024. DUBAI, UAE: MAY 17, 2024 – The World Diamond Council (WDC) concluded the 2024 Kimberley Process (KP) Intersessional with a renewed […]
In a rare interview with the Financial Times on May 10, Chaumet’s new CEO Charles Leung offered his analysis of the company’s strategy. Charles Leung, originally from Hong Kong, has been appointed as the head of a major French luxury house. This appointment likely reflects LVMH’s intention to value experienced talent from the Asian continent. […]
Lightbox Jewelry, the De Beers–owned lab-grown brand that made waves upon entering the business by charging $800 a carat, has lowered the price of its entry-level product (I and J color diamonds) by nearly 40%, to $500 a carat. G-H color stones are now priced at $600 per carat. And Lightbox is charging $900 a carat for […]
Phillips sold a pink diamond for $12 million at its second Geneva jewelry auction, which also saw two records set for a fancy-red. The 6.21-carat, fancy-vivid-pink, VS1-clarity, type IIa diamond ring was the leading lot at the May 13 Geneva Jewels Auction: Two, Phillips said Tuesday. The total, which amounted to $1.9 million per carat, fell […]
Nicolas Bos, currently CEO of Van Cleef & Arpels, will become CEO of Richemont effective June 1. Bos, who has served as Van Cleef CEO since 2012, will also join Richemont’s senior executive committee. At press time, it wasn’t clear if Van Cleef—which is owned by Richemont—would appoint a replacement. Richemont’s current CEO, Jérôme Lambert, […]
As synthetics gain ground in jewelry collections and the minds of consumers, Rapaport Magazine takes a look at some of the latest developments in this product category. Testing the waters The diamond industry is undergoing a significant and transformative shake-up. With a major dip in natural-diamond prices, many companies have either diversified their operations to […]
Ovals, emeralds, cushions and pears are some of the top alternatives for today’s customers. Wholesalers and manufacturers often describe their inventory as rounds and fancies, with the latter being a catch-all for non-round shapes. In the market for colorless natural diamonds, the increased popularity of fancy cuts reflects the way styles are being promoted today. […]
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board. Mumbai—India, which has for long worn the mantle of the world’s largest manufacturer of polished natural diamonds, is well on its way to becoming the largest grower and manufacturer of lab-grown diamonds. The country’s growing capacity […]
With little fanfare, the United States has effectively ended its sanctions on Zimbabwe diamonds. On March 4, President Biden signed an executive order terminating the national emergency “with respect to the actions and policies of certain members of the Government of Zimbabwe and other persons.” Several personalities and entities connected to the diamond industry were […]
(IDEX Online) – Lab grown gemstones are to be banned from all trade shows run by the American Gem Trade Association (AGTA). The Dallas-based not-for-profit association says exhibitors will not be allowed to display loose gemstones or jewelry comprising what it describes as “nonnatural gemstones – ones that are man-made, synthetic, or lab grown”. The […]
The UK’s Advertising Standards Authority (ASA) has ruled that Skydiamond may not use advertising with “misleading” terminology that fails to make it clear their diamonds are not natural. The Natural Diamond Council (NDC) filed a complaint with ASA about the ad, which debuted in February 2023 and featured text including, “Say hello to the world’s first and only diamond […]
