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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 […]
Part of the Kering Group, Maison Boucheron opened its first boutique on Madison Avenue in New York in early September. To celebrate its 160th anniversary in 2018, Boucheron spent a dizzying sum renovating its flagship Place Vendôme store, located in the Hôtel de Nocé built in 1717. The magnificent result has become a blueprint in […]
The drop in diamond recoveries is a response to market conditions, but also a reflection of diminishing prospects for viable new mines. Diamond miners are postponing sales and reviewing their production plans amid the weak market environment. “We have taken the proactive decision to defer the upcoming August-September tender from our South African operations, to […]
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 […]
Rio Tinto has installed a 3.5 megawatt capacity solar power plant at the Diavik diamond mine to minimize its footprint in the lead-up to the deposit’s closure. The Canada-based facility, which boasts 6,620 solar panels, will reduce diesel consumption at the mine by 1 million liters per year and cut greenhouse gas (GHG) emissions to […]
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 […]
Van Cleef & Arpels has always seen enriching and showcasing its heritage as an essential mission. The Maison presents the treasures of its heritage in a superb, recently published book entitled ‘The Van Cleef & Arpels Collection (1906-1953)’, with a forthcoming second volume covering the 1954-2000 period. The Van Cleef & Arpels Heritage Collection was […]
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 […]
