Pressing Matters: Luxury Jewelry Outperforms...

July 2026 News Roundup

De Beers Should Trust Its Name

Luxury Jewelry Is Booming. So Why Are Diamond Mines Closing?

News In Brief

Lucara Profit Rises Despite Revenue Drop...

Birks to Delist From NYSE...

Brilliant Earth Returns to Profit...

India Proposes Tax Break for Rough Diamond Trading...

Alrosa Swings to First-Half Loss...

Putin, Alrosa CEO Discuss Industry Strategy...

Smaller Diamonds Extend Recovery...

Pandora Names North America Chief...

Hong Kong Jewelry Sales Jump 20%...

Fancy-Color Diamond Prices Hold Firm...

Full story here

Spotlight

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

De Beers Sends a Message to the Market

De Beers has announced a two-year pause in operations at the Venetia mine in South Africa, its latest effort to cut costs and streamline the business amid continued weakness in the diamond market. The decision comes as Anglo American moves closer to selling its 85% stake in De Beers, raising questions about whether the suspension is connected to the sale or simply reflects the company’s need to adjust to market conditions. Both can be true. The move sends a strong message

The Problem with Perfect

Solitaire International: The rise of lab-grown diamonds is prompting the natural diamond industry to refocus on the distinctive qualities of the product it sells. That may sound obvious, but the industry took its eye off the ball for some time, placing greater emphasis on grading reports and specifications than on the diamond itself. Now, as lab-grown diamonds have become increasingly standardized and near-perfect, natural diamonds stand apart through their unique inclusion

The Lab-Grown Debate Goes Beyond Price and Sustainability

Solitaire International: The debate between natural and lab-grown diamonds is evolving beyond the familiar arguments about price and sustainability. Recent developments, including Pandora’s carbon footprint disclosures, a UK regulatory ruling on lab-grown diamond advertising, and calls for stricter terminology standards, suggest the conversation is increasingly focused on how the two products are defined and presented to consumers. My latest column for Solitaire Internation

Hong Kong’s Diamond Recovery Is About Trade Flows, Not Demand

Hong Kong’s diamond trade grew in the first quarter, signaling an uptick in global flows rather than a meaningful recovery in regional demand across China and the broader Asia Pacific market. The improvement was evident across both the polished and rough sectors. Historically, Hong Kong has served primarily as a polished trading center, functioning as a zero-tax gateway for diamonds entering Asia Pacific, particularly Mainland China. The city also maintains a significant

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Pressing Matters

Luxury Jewelry Outperforms, De Beers Cuts Losses, Gold Demand Slows

July was a busy month for the diamond and jewelry industry from a news perspective, even if trading activity eased, as it typically does during the northern hemisphere summer period. Beneath the seasonal slowdown, however, were several consequential developments, many of them emerging from the earnings season that began in July and continues through August. See the full July 2026 News Roundup Looking at the past week, the luxury groups once again stood out, with their jew

US Tariffs, Synthetic Diamond Rules, China Signals...

Undoubtedly, the biggest story of the week was the reinstatement of US tariffs on imports from key trading partners following the expiration of the temporary 10% global tariff regime. The new structure is more nuanced. Some countries gained exemption from import duties, others face a 10% tariff, while imports from most countries are now subject to a 12.5% rate. (See the Jeweler’s Vigilance Committee Member’s Alert and its Tariff Tracker). For the diamond industry, Botswan

De Beers Sale Nears, Ekati Closes

It’s been a quietly significant week in the diamond industry, with some rather astonishing announcements across the mining, trading and retail sectors. And we had a fantastically large diamond recovery to get the juices flowing. Starting with mining, we saw operations cease at two legendary diamond mines. A court filing revealed that Burgundy Diamond Mines is closing the Ekati mine in Canada after attempts to sell it failed. Annual production at Ekati peaked at around 7.4

De Beers Pauses Venetia Mine, Rough Market Reset

Just as I was crossing the t's and dotting the i's on this week’s newsletter, a press release landed in my inbox announcing that De Beers is pausing operations at the Venetia mine in South Africa for two years. That changed the lead story because this is a significant development, even if it isn't entirely surprising. In fact, I argued this was a likely outcome in the Diamond Executive Report, The Value of De Beers, published in May, where I wrote: “De Beers might conside

Reasons for Optimism in the Diamond Market

By far the most consequential story over the past week went a little under the radar. De Beers signaled it would reduce prices at the sight that began today, as reported by Rapaport’s Joshua Freedman. The move, corroborated by my own sources, is a sign that De Beers believes the market is improving. That may sound counterintuitive given the price cuts, but De Beers typically adjusts prices to stimulate buying when it sees polished inventories have declined and demand beginn

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