Pressing Matters: Targeting Rich Consumers

August 2026 News Roundup

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Titan Raises the Bar for India's Jewelry Market

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Tariffs and Terminology

India Just Changed the Global Diamond Trade

News In Brief

Signet Returns to Profit...

New CEO Appointed at iTraceiT...

WFDB Calls for Clearer Diamond Declarations...

Cavalieri Re-Elected CIBJO President...

Diamond Jewelry Leads US Independent Sales...

London Bourse Adopts “Synthetic Diamond”...

CIBJO Adopts ‘Synthetic’ as the Global Standard...

Watches of Switzerland Maintains Growth Outlook...

Christie’s Names New Global Watch Head...

Fine Jewelry Academy Launches in Milan...

Full story here

Spotlight

Tariffs and Terminology

Solitaire International: The diamond and jewelry industry is facing two policy battles in Washington that could shape the market for years to come: restoring zero tariffs on imports to the US and establishing clearer terminology for laboratory-grown diamonds. Tariff exemptions have returned for natural diamonds from Europe and for several diamond-producing countries, but India, Canada, China, Israel, the UAE and other key trading partners remain subject to duties. The outco

India Just Changed the Global Diamond Trade

India made one of the most consequential moves for the global diamond industry this week, passing legislation that provides a 15-year income tax exemption for eligible foreign companies selling rough diamonds through the country’s Special Notified Zones. The change is clearly good for India. It could also prove game changing for the global diamond trade. But it did not happen in a vacuum. To understand why the legislation matters, it is necessary to look at why India has

Titan Raises the Bar for India’s Jewelry Market

Titan Company is strengthening its position as a bellwether for India’s jewelry market, with its latest results pointing to broad-based consumer demand even as spending becomes more discerning and gold prices remain elevated. The Tata Group-owned company reported a 29% year-on-year increase in group revenue to INR 215 billion ($2.3 billion) for the fiscal first quarter ending June 30. Net profit jumped 63% to INR 18 billion ($186 million). Titan is India’s largest branded

Winning the Next Generation of Jewelry Buyers

Solitaire International: Changing consumer values could give jewelry an advantage over other luxury categories as younger buyers increasingly prioritize identity, emotional connection and self-expression over traditional markers of status. Research from McKinsey, Deloitte and De Beers suggest those shifts are already influencing jewelry purchasing, with gifting and self-purchase gaining importance and authenticity emerging as a stronger luxury attribute. But those qualities

De Beers Should Trust Its Name

On the eve of Anglo American's divestment from De Beers, a discussion has re-emerged over the company’s brand equity. How much of De Beers’ value lies in its name or intellectual property, such as A Diamond Is Forever? Is De Beers a brand, and how can its new owners best leverage that identity? It is not a new debate, but a lingering one that inevitably shines a light on the company’s retail business, now known as De Beers London. The latest discussion was sparked during

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Pressing Matters

Targeting Rich Diamond Consumers

An interesting idea was floated at the World Jewellery Confederation (CIBJO) Congress, which marked the organization’s centenary. In his keynote address, Martin Rapaport, chairman of the Rapaport Group, urged the industry to focus its marketing on “selling expensive diamonds to rich people who want to spend money.” He has made that call before. Some may interpret it as a suggestion that the industry should ignore the rest of the market, including the middle-income segment,

Cibjo's Synthetics Push

It’s been a relatively quiet period, with many dealers in Antwerp, Israel and New York taking vacation over the summer. That also applies to the news flow, which has been rather sparse as earnings season winds down. For me, the highlight of the coming week will be the CIBJO Congress at the Vicenza show. I always love attending Vicenza, despite feeling eternally underdressed there. It has not only emerged as the most important European jewelry fair, but is arguably the numbe

Russia Pushes Downstream as Diamond Centers Compete for Value

Have you been following developments in Russia vis-à-vis its diamond industry? They’re worth watching as the country pushes to expand its domestic diamond manufacturing sector. This week, Alrosa CEO Pavel Marinychev met with Russian deputy finance minister Alexey Moiseyev and Smolensk region governor Vasily Anokhin to advance the development of a domestic diamond cutting cluster in Smolensk and the Republic of Sakha (Yakutia). Marinychev discussed the same initiative with P

India Opens Rough Trade

India has passed a law providing a full income tax exemption for foreign companies trading rough diamonds through the country’s special notified zones. As we discussed in last week’s memo, when the law was proposed, the move at last brings India into the diamond trading conversation. Think of it as India’s version of beneficiation, adding value to its dominant diamond manufacturing sector. Frankly, it’s somewhat of a mystery that India has maintained such a draconian tax re

India Targets Rough Trading

I’m not sure if you’ve noticed, but the diamond trading centers seem to be getting more assertive in claiming their positions in the market. Over the past year, Antwerp has regained some of its lost stature through effective lobbying that helped secure exemptions from US tariffs for European-sourced diamonds. The UAE has maintained its momentum, recording record diamond trading levels in 2025, while Qatar established a diamond bourse that was welcomed last month as the newe

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