DIAMOND GEMS WEEKLY

Three developments stood out in this week’s news. The first was the continued strength of jewelry in the luxury market. Kering’s third-quarter update showed sales at its jewelry brands, including Boucheron, Pomellato, DoDo and Qeelin, rising 12%. Fashion and leather goods declined 1%, eyewear grew 6% and other segments fell 5%. That mirrors the trend at LVMH, where Watches & Jewelry was the group’s strongest performing category. It also supports the renewed focus on the hig

Lab-grown diamond seeds for growing. (De Beers) The formation of the Diamond Producers Council (DPC) may mark a turning point for the lab-grown diamond industry, particularly on the supply side. For years, the segment has been seen as the Wild West, with growers operating independently and little coordination across the market. The result has been persistent oversupply and a dramatic decline in lab-grown diamond prices. The DPC’s launch signals that the industry is starti

Gareth Penny addresses the Cibjo Congress in September. (Cibjo) The pending sale of De Beers by Anglo American is forcing the diamond trade to confront some harsh realities. The proposed ownership structure should also give industry stakeholders pause. The reported valuation is not a good look for the company or the industry. Anglo has a carrying value of $2.3 billion for De Beers, while reports suggest bids are coming in at around $1 billion. It is not clear how that val

Another week, another round of speculation about Anglo American’s sale of De Beers. The question is no longer which bid Anglo will accept, but who will make up the group that takes ownership. The latest reports suggest that luxury jewelry group Richemont and US retailer Signet Jewelers are in talks to buy minority stakes in Gareth Penny’s Global Diamond Consortium, the apparent frontrunner in the bidding. They would join three or four sightholders reportedly already involve

Pink Payday: A 24-carat fancy intense pink diamond set in a Bulgari ring will headline Christie’s Magnificent Jewels auction in Geneva on November 10, with an estimate of CHF10 million to CHF15 million ($12 million to $18 million). Arguably, the strongest theme shaping the diamond and jewelry market in 2026 has been the shift toward higher price points and the high end. That trend was underscored again last week when Blue Nile became Royal Asscher’s exclusive licensed retaile

Solitaire International: Higher prices are supporting revenue growth among retail jewelers, but that value growth is masking a decline in unit sales. Inflation is part of the story. So is the resilience of the high end of the market, where consumers are trading up to better-quality, higher-value goods. Still, the drop in unit sales points to the underlying challenge facing the diamond and jewelry industry: getting more people to buy jewelry, rather than relying on existing

Geopolitics is having a significant impact on the diamond trade, from US tariffs and sanctions on Russia-origin goods to tighter rules governing traceability and sustainability claims. In the latest episode of Pressing Matters, Avi chats with Karen Rentmeesters, CEO of the Antwerp World Diamond Centre, discussing the changing role of trading centers as the diamond market adjusts to new regulatory demand, Russian sanctions and a smaller rough supply base. While sentiment has

Once again, our attention turns to the diamond mining segment, which has arguably been hardest hit by the decline in demand. This past week, two mid-tier miners effectively announced their intention to exit their operations. Petra Diamonds, owner of the legendary Cullinan and Finsch mines in South Africa, launched a strategic review to address its liquidity concerns, including a possible sale of its assets. The company has already unsuccessfully sought to sell Finsch and no

The Beijing Declaration on Natural Diamonds and Sustainable Development, signed by the Shanghai Diamond Exchange and government representatives from Botswana, Namibia and South Africa, recognizes the connection between diamond purchases in China and the socioeconomic impact of the industry in Southern Africa. The agreement contains few practical commitments. It is a declaration of intent, rather than a roadmap. Still, it acknowledges an important opportunity: Chinese consum

Several diamond-related regulatory developments took effect in September, both within the trade and at government level. They reinforced the need for a refreshed approach to category marketing, which took shape with the launch of The Diamond Collective. Meanwhile, most segments of the industry showed further signs of stabilization and improvement, with mining the notable exception. Here is the full roundup of the news affecting the diamond and jewelry market in September. Syn

We’re back after a brief holiday hiatus, and there were some interesting industry developments and events while we were away. For one, the long-awaited Natural Diamond Council campaign under new CEO Amber Pepper was unveiled. Rather than a consumer campaign, however, the organization introduced a new identity: The Diamond Collective. I share my thoughts in my latest Diamond Minute: The Diamond Collective Unveiled. As suggested in the video, it has prompted me to refer to

Cibjo’s decision to adopt “synthetic” as the sole descriptive term for diamonds and gemstones with the same chemical, physical and structural properties as their natural equivalents was significant, and not without controversy. At its Congress in Vicenza, the World Jewellery Confederation confirmed that it will revise its Diamond and Colored Stone Blue Books, replacing “laboratory-grown” and “laboratory-created” with “synthetic.” The decision followed a long period of consu

The diamond industry may have found greater stability, but it has yet to solve the central challenge of generating enough consumer demand to sustain a recovery. That was the consensus at a live recording of The Diamond Dudes podcast at the CIBJO Congress on September 6. Speakers cautioned that the recent improvement in the polished market has been driven largely by lower rough supply rather than stronger retail demand. The panel, led by Avi Krawitz, Rob Bates and Edahn Gola

Artist Reena Ahluwalia presented Diamond Trails at the CIBJO Congress in Vicenza, a project pairing original artworks with short stories about the diamond industry by Avi Krawitz, Sonia Esther Soltani, Grant Mobley and Shanoo. The project aims to bring a more human and creative perspective to diamonds and the lives they touch. Ahluwalia and Krawitz discussed the initiative at VicenzaOro, including the role of storytelling in strengthening the industry’s connection with cons

Sometimes weeks feel like months in the diamond industry. We have been talking about the CIBJO Congress for some time already, and the trade body’s proposed move to make “synthetic” the sole descriptive term for diamonds created in a process other than mining. Well, the group approved the change. It will replace “laboratory-grown” and “laboratory-created” with “synthetic” in its Blue Books for Diamonds and Colored Gemstones.... Read the full September 14 edition of the Pres

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,

India’s Rough Trade Push ​ India passed legislation providing a 15-year income tax exemption for eligible foreign mining companies, sightholders, brokers, aggregators and tender or auction operators selling rough diamonds through the country’s Special Notified Zones (SNZs). The exemption applies from October 1, 2026 through March 31, 2041. India is seeking to establish itself as a global rough trading hub. As the new legislation was passed, a Namibian government delegation

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

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

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