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The diamond business has continued to absorb the repercussions of the global pandemic. Polished diamond wholesale prices, after a small improvement in June, continued to mostly slide in July. This coincides with an ongoing decline in jewelry share of wallet.
This week, Eira Thomas, CEO of Lucara Diamond, owner of the Karowe mine in Botswana, sent an open letter to the diamond industry promoting Clara, the sales perform that Lucara purchased two years ago.
Diamonds will be getting some advertising love this fall.
Press release – De Beers Group’s third Diamond Insight ‘Flash’ report explores opportunities for diamonds as consumers reallocate discretionary spend.
Tiffany & Co., which last year announced it was telling consumers the place and country where most of its diamonds were mined, is now taking that further by telling consumers where its gems are cut and set into jewelry.
On July 15, Lucara Diamond, owner of the Karowe mine in Botswana, announced it had forged a “groundbreaking” deal with Antwerp Belgium’s HB Group. The deal calls for Lucara to sell all its “special” (more than 10.8 ct.) diamonds to HB through the end of the year.
On Thursday July 27, De Beers released financial results for the first half of the year, which show just how much it’s been battered by COVID-19—with total revenue coming in at $1.2 billion, a 54% drop from the year before, which itself was not a great period.
Lab-grown diamonds may soon develop their own distinct price scale that differs from that of natural diamonds, Andrey Zharkov, the former chief executive officer of Alrosa who now heads the lab-grown diamond company Ultra C, predicted during a recent webinar.
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.
A new study from market research firm eMarketer forecasts that China’s retail market will become the biggest in the world in 2020—surpassing the U.S. retail market, which has been the largest in the world for more than a century.
Rubel & Ménasché is a company that is always on the move and trying to improve. Our “Lettre” follows the rule! We changed its layout and distribution a little at the start of 2020. But our reflection actually goes much further and we are now wondering about the form and the substance. And who better […]
COVID-19 hit the world like a wild and destructive storm, harming lives and assets as it spread. The diamond and jewelry industry was not spared, and sales dropped significantly – how significantly was anyone’s guess until now. Following are the figures showing just how COVID-19 impacted sales, and how the tide is perhaps starting to […]
