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Increasing interest rates and energy costs led consumers to reduce their expenses at jewelry shops. In March, sales of finished jewelry and loose diamonds were down 3%, and the average expenditure per unit decreased 3.5% year over year. Lab-grown diamonds – loose and finished jewelry – are facing significant challenges. The increase in the number […]
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
The diamond industry will remain under pressure as geopolitics and the rising popularity of lab-grown cause a fundamental restructuring of the market, cautioned Rapaport Group Chairman Martin Rapaport.
Last month, De Beers announced it would spend $20 million on a “Seize the Day” campaign touting natural diamonds.
“In its 10th Diamond Insight report, De Beers conducts an in-depth analysis of the Chinese market, the world’s second-largest diamond jewelry market after the United States.”
Manufacturers, dealers and jewelers overbought during positive periods, ignoring the lessons of previous up-and-down cycles.
India’s polished-diamond exports slumped 39% year on year to $1.32 billion in April, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC). The trade has seen declines in polished exports for three of the first four months of 2023, as the US and China consumer markets have slowed. Rough imports […]
De Beers is considering a range of possibilities as it ponders the future of its Forevermark diamond brand, chief financial officer Sarah Kuijlaars tells JCK following the release of the company’s 2022 financial results.
The bridal sector hopes the momentum will last following the busiest year for nuptials in almost four decades.
Sarine Technologies’ sales fell last year as the diamond market’s global slowdown led to a reduction in polished manufacturing at Indian factories.
Experts and Editor-in-Chief Michelle Graff share views on natural diamond prices, lab-grown supply, and diamond jewelry sales in 2023.
In part 2 of our exit interview with De Beers CEO Bruce Cleaver, he reviews the big events of his tenure, from Nirav Modi’s implosion to the COVID-19 pandemic to De Beers’ still-controversial introduction of lab-grown brand Lightbox.
