Diamond Prices See Stabilizing Trend
RAPAPORT PRESS RELEASE, November 7, 2023, Las Vegas… Diamond prices showed a more moderate decline in October amid holiday demand and a reduction in rough supply.
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Global luxury market projected to reach €1.5 trillion in 2023, a new record for the sector, as consumers seek luxury experiences
Despite continued growth, this marks a pivotal moment for brands; winners will define themselves through resilience, relevance, and renewal to navigate through growing turbulence.
Kimberley Process Has a Failure to Communiqué
It was midnight. The annual Kimberley Process (KP) plenary in Victoria Falls, Zimbabwe, had come to a preliminary agreement on its communiqué—which included some 90 items, mostly about administrative matters like choosing Botswana as the home of its much-delayed secretariat. The members of the certification scheme applauded.
70 Years of Vicenzaoro
In the jewelry world, the year kicks off with Vicenzaoro, organized by the Italian Exhibition Group(IEG) and held January 19–23, 2024, in Vicenza, Italy, about 30 miles outside Venice. The international jewelry exhibition celebrates its 70th anniversary in 2024.
Falling Prices Killed WD Lab Grown, CEO Says
Synthetic gem prices fell so fast that WD Lab Grown Diamonds couldn’t make a profit, the company’s former CEO, Mike Grunza, said during a Delaware bankruptcy proceeding this week. WD liquidated in October.
Bleu Royal Fetches $44 Million at Christie’s
The Bleu Royal, a 17.61 ct. internally flawless fancy vivid blue diamond, sold for 39.5 million Swiss francs, or about $44 million, at Christie’s Magnificent Jewels sale in Geneva on Nov. 7.
When Natural Diamonds Move with the Times
Living the diamond life every day is the core message of the NDC’s new global ad campaign.
De Beers Appoints New CEO of Brands Division
De Beers Group has appointed Sandrine Conseiller as CEO of De Beers Brands, which oversees its retail chain and Forevermark brand.
Diamond Market Worsens in September
Diamond prices fell further in September as retail sales weakened amid competition from synthetics. Polished inventories were still high relative to sales expectations, despite lower production.
David Prager Replaces Stephen Lussier as NDC Chair
The National Diamond Council (NDC) has appointed De Beers executive David Prager as chairman to succeed Stephen Lussier, who is stepping down.
Hong Kong and Macau Drive Chow Tai Fook Growth
Chow Tai Fook today reported a 5.8 per cent increase in the value of Q2 retail sales, driven by an influx of tourists from the Mainland to Hong Kong and Macau.
5 Takeaways from the CIBJO Congress
The World Jewellery Confederation held its latest gathering in Jaipur, India, from October 3 to 5. Here are some of the hot topics that came up at the event.
