DIAMOND GEMS WEEKLY

We all have a starting point in this industry. Mine goes back to age 11, on a school trip to Kimberley, where I was first introduced to the world of natural diamonds. In many ways, that excursion was a coming-of-age experience for me, one I’ve probably stretched into a better story over time, with a bit of embellishment thrown in. There were a few memorable moments. At one point I was left behind at a Boer War memorial, convinced I’d been abandoned and destined to become pa

Industry Matters The Natural Diamond Council (NDC) has designated April 8 as World Diamond Day , urging the industry to share stories celebrating natural diamonds. The initiative will have a soft launch in its first year, aimed at building momentum and encouraging participation across the diamond pipeline. The World Federation of Diamond Bourses (WFDB) has approved a significant budget for the global promotion of natural diamonds, president Yoram Dvash said in a letter

In some sense, it was a historic week for the diamond industry, as Rio Tinto announced the closure of the Diavik mine in Canada. The significance of the announcement is threefold. First, it marks the end of a consistent source of supply. The mine was launched in 2003 and yielded around 153.8 million carats over its life, an average of about 6.8 million carats a year, though that settled closer to 4 million in recent years (see graph below). Second, it effectively comple

Signet Jeweler’s latest results point to a business in transition rather than one simply returning to growth. Group revenue rose 2% to $6.81 billion and net profit increased five-fold to $294.4 million in the fiscal year ending January 31, but the improvement in earnings says as much about cost discipline and prior impairments as it does about underlying demand. The more meaningful story lies in the strategy initiated by CEO J.K. Symancyk, focused on sharpening brand position

There has been a trickle of positive news from the diamond market, suggesting stabilization, or even a recovery, may be taking hold. Alrosa made that case in its latest press release , arguing that a tightening in supply is reversing the downward trend in rough and polished prices seen over the past few years. That’s a bold claim, and even by Alrosa’s own admission it applies mainly to the higher-priced segment, particularly goods in the 2-carat to 10-carat range. That se

This blog first appeared in the March 16 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters . Another week, another report highlighting the disruption lab-grown is having on natural diamonds. This time the data comes from jewelry insurance provider BriteCo, whose findings echo trends we’ve seen in reports from Tenoris, The Edge Retail Academy, The Knot and others, even if each arrives at different market share estimates and average price points. Brit

Solitaire International: Retail jewelry sales are growing across many major markets, yet that momentum is no longer flowing through the diamond supply chain the way it once did. The rise of lab-grown diamonds, higher gold prices, leaner inventories and retail consolidation mean fewer natural diamonds are moving through the pipeline even as jewelry revenue climbs. The result is a weakening of the industry’s traditional trading cycles, forcing the rough and polished markets to

This blog first appeared in the March 9 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters . It’s been quite a week in the world. The situation in the Middle East raises the question of how the war with Iran might affect the diamond market, beyond the disruption to trading in Dubai and Ramat Gan, the two centers directly impacted by Iran’s attacks. Those interruptions are unlikely to upset the immediate diamond supply-demand dynamic. Rather, the broa

This blog first appeared in the March 2 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters . Last week's Diamond Debate examined the question if the diamond industry overregulated. My opponent, Feriel Zerouki, president of the World Diamond Council, kicked off the conversation by listing a series of disclosure requirements involved in diamond trading. It’s worth considering these details as you reflect on the topic. For a small parcel of natural diam

The United States and India reached a trade deal eliminating US import tariffs on diamonds sourced from India. As part of the broader agreement, the US will reduce tariffs on Indian goods to 18% from 25%, remove the additional 25% penalty imposed in September, and fully scrap duties on select categories, including gems and diamonds, The White House said . India's Prime Minister Narendra Modi with US President Donald Trump in a 2025 meeting. (The White House) The European

In this episode of Diamond Debates, Avi Krawitz and Feriel Zerouki, president of World Diamond Council (WDC), explore whether the rules regulating the diamond market are strengthening the industry’s long-term credibility or gradually squeezing its competitiveness in an already fragile market. From the Kimberley Process to sanctions compliance, traceability rules, AML requirements and ESG reporting, the diamond trade operates under layers of oversight that few luxury sectors

This blog first appeared in the February 23 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters . Where else can we start but with De Beers’ earnings, published on Friday. The headline you’ve likely seen by now is that Anglo American wrote down the value of its diamond unit by $2.3 billion, bringing it to $2.3 billion. In the context of its ongoing effort to sell its 85% stake, that’s a damning assessment of De Beers, of Anglo’s stewardship, and of the

Happy Lunar Festival as we usher in the Year of the Horse. While we have one eye on China’s Golden Week in the coming days, our attention last week was drawn to the annual Investing in African Mining Indaba in Cape Town. The conference doesn’t usually place much emphasis on diamonds, but this year was a little different amid heightened interest in Anglo American’s sale of De Beers . Most significant were comments by Anglo CEO Duncan Wanblad that the decline in diamond pr

In this session of the Diamond Debates series, Avi Krawitz and diamond analyst Paul Zimnisky delve into the future of De Beers and the diamond industry as a whole. They discuss the implications of Anglo-American's divestment from De Beers, the challenges posed by lab-grown diamonds, and the need for a rebranding of the natural diamond market. The conversation also touches on the importance of inventory in retail and the evolving consumer preferences in the diamond sector.

Every so often, I’m tempted to turn this memo into a gossip column. If I ever did, it might open with something like, OMG! I’ve got so much to tell you! Perhaps I’ve found a quieter way to indulge that instinct, because the truth is it’s been a very good week for the diamond industry. The headlines were dominated by the US–India trade deal, which will remove tariffs on diamond imports into the world’s largest jewelry market from the largest source of polished supply. The

The contrast between the performance of the retail jewelry sector and diamond mining revealed in the recent round of earnings is striking. At retail, Watches of Switzerland said its Roberto Coin business delivered an excellent US holiday season. Swatch Group noted that Harry Winston had a record month in December, while Birks Group reported comparable-store sales grew 2.5% over the November–December period. The momentum carried into January. The Edge Retail Academy estima

The diamond industry breathed a collective sigh of relief after the US and India reached a trade deal that will eliminate import duties on India-sourced diamonds and gemstones. By way of recap, in September President Trump imposed a 25% reciprocal tariff, followed by an additional 25% penalty on all Indian imports, aimed at pressuring India to halt purchases of Russian oil. The impact was immediate and severe. India’s diamond trade was put at a massive disadvantage, with go

Avi is joined by Wesley Tucker, CEO of Tracr, to argue the need for the diamond industry to adapt to the changing market environment. The discussion highlights the importance of value amid evolving supply and demand dynamics, and the impact of lab-grown diamonds. In trying to understand the meaning of value, they explore the role of design, personalization, and marketing strategies in attracting new consumers and enhancing the overall diamond experience. The conversation high

Transcript of the video above: Botswana’s diamond industry is at crossroad and not for the first time. 2026 is another pivotal year for Botswana diamonds, and therefore the country as a whole. The finance ministry published its annual budget strategy paper in January revealing some crucial information we didn’t know about previously, namely the level of diamond inventory circulating in Botswana. The treasury said that Botswana’s diamond inventory stood at 12 million cara

February is a slightly strange month. It’s a day or two shorter than the rest, which gives it a sense of ease, as though it passes a little more seamlessly. That said, it’s an important month for the diamond industry. By now, we have a clearer view of how the holiday season played out, and jewelers have a better handle on their inventory requirements. Valentine’s Day also looms on the 14th, with the National Retail Federation (NRF) expecting record spending , including arou