DIAMOND GEMS WEEKLY

US tariffs are back in focus following last week’s Supreme Court hearing on whether the Trump administration’s implementation of the trade policy was lawful. The justices voiced skepticism about the president’s use of powers to impose the levies, but the higher tariffs are expected to stay in place at least through early next year.   For now, it falls to individual trading centers to ensure diamonds are part of their own governments’ negotiations with Washington.   Looking ba

The diamond industry stands at a pivotal moment in its evolution, facing a convergence of internal pressures and external forces that demand new ways of thinking and operating.   I had the privilege of facilitating a strategic discussion at the CIBJO Congress in Paris that examined these challenges, from shifting global demand and the rise of lab-grown diamonds to the squeeze on mid-tier retail and growing supply constraints amid mine closures and traceability requirements. P

Geopolitics has taken on a far more influential role in the diamond trade in recent years, with three key issues shaping the industry’s discourse in 2025: escalating US tariffs, restrictions on Russian diamonds, and the European Union’s tightening ESG regulations.   These interconnected forces are driving the trade toward greater transparency, traceability, and accountability, placing particular pressure on SMEs to keep pace with evolving standards.   I was honored to moderat

Solitaire International: As the US holiday retail season begins, affluent consumers are continuing to spend on luxury goods, while budget-conscious shoppers are increasingly drawn to promotions and value-driven offerings.   This divide suggests that high-end and big-ticket jewelry may perform well, though overall volumes could stagnate as middle-income households rein in spending. Retail jewelers are therefore sharpening their strategies: luxury brands are emphasizing exclusi

Why do I always feel the need to start each new month by saying to myself (and anyone within earshot), “Can you believe it’s already [insert month here]?”   Well, here we are — it’s November! Can you believe it? That means the holiday season has somehow crept up on us again. While Thanksgiving weekend is often seen as the cultural kickoff, retailers officially count their holiday sales from November 1 through December 31.   So, by my calendar, it’s officially begun, and I’m w

I’ve been on the move these past few days, attending the CIBJO Congress in Paris, and despite my best efforts, I missed my self-imposed Monday deadline — so, happy Tuesday.   CIBJO — the World Jewellery Confederation — kicked off its centenary year in the city of its birth, with celebrations set to continue at next year’s congress in Vicenza. If you’re not familiar, CIBJO is essentially an association of associations spanning the full jewelry spectrum. It plays many roles, bu

The Louvre's Galerie d’Apollon. (Credit: Louvre) Thieves broke into the  Louvre  early Sunday, October 19, stealing several royal jewels from the museum’s famed Galerie d’Apollon (pictured, right), which houses France’s Crown Jewels. The stolen pieces include gems once belonging to Queens Marie-Amélie and Hortense and Empresses Marie-Louise and Eugénie. Police have recovered part of the loot and launched an investigation after the burglars fled, abandoning a burned-out getawa

So they hit the Louvre and made off with historic gems. I don’t know why I get so sentimental about these things. And it’s not just jewelry; I get similarly peeved when activists throw ketchup on great works of art.   This time, with royal tiaras, necklaces, and brooches once worn by Empress Eugénie and other Napoleonic-era figures among the stolen items, one can’t help but feel a sense of tragedy at the thought of such important pieces being dismantled and lost forever. Then

Amid the flurry of holiday marketing activity, one notable silence stands out — that of the Natural Diamond Council (NDC).   The NDC hasn’t launched a holiday campaign because it simply doesn’t have the funds to do so. Commitments made under the Luanda Accord in July have yet to be fulfilled.   That agreement saw governments and industry bodies pledge 1% of the value of rough diamond sales to finance a global marketing effort promoting natural diamonds. The funds were meant t

A big thank-you to everyone who joined last week’s Business of Jewelry Roundtable. Both sessions offered such different — yet equally...

Sale of De Beers Botswana President Duma Boko. (Youtube.com/@AntwerpWorldDiamondCentre ) The Government of Botswana intends to secure a...

Do you also have a love-hate relationship with ChatGPT? Oh! My! Gosh! It drives me bananas. To be clear, I use the AI program for many...

What does the diamond industry want, or expect, from the new owners of De Beers, whoever they turn out to be?   Should we expect a...

Solitaire International: After nearly three years of declines, America’s mid-market jewelers finally posted growth in the first half of...

It’s a shorter week for many, with Rosh Hashana (the Jewish New Year) sneaking up on us — as new years tend to. The clustering of...

The World Jewellery Confederation (CIBJO) has released a series of reports across key areas of the trade ahead of its Congress in Paris...

One thing I’ve always admired about entrepreneurs is their ability to pivot — and the same can be said of diamantaires. Our industry...

Uncertainty over US tariffs, China’s slowdown, and geopolitics has dominated industry headlines this year, but two additional forces are...

In recent weeks, I’ve been opening this memo with thoughts on the challenges and opportunities we face not just as members of the diamond...

Interior of a Kay Jewelers store. (Signet Jewelers) Signet Jewelers is emerging as the ultimate test case of how the natural and...