Chow Sang Sang reported that sales rose 3% year on year in the third quarter, with same-store sales up 4% in mainland China and 7% in Hong Kong and Macau. Consumers in mainland China were cautious, but demand for gold jewelry held firm, the company said.

 

Gemfields generated $52 million at its October auction of mixed-quality rough rubies from Mozambique, selling 90 of the 99 lots offered. The average price reached $564.54 per carat, the highest across its five most recent mixed-quality auctions, with larger, fine-quality stones fetching particularly strong prices.

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US retail sales rose 6.3% year on year in September, according to the Census Bureau. The increase marked the 12th consecutive month of growth, with solid back-to-school shopping supporting spending, the National Retail Federation (NRF) said. Retailers continued to emphasize affordability, using promotions and value pricing to keep everyday products within reach, according to the NRF.

 

US holiday retail sales are forecast to exceed $1 trillion for the first time, rising 4.2% year on year in November and December, compared with 3.1% growth last year. NRF CEO Matthew Shay said consumers will prioritize holiday spending while watching their budgets, with inflation, gas prices and household pressures affecting income groups differently.

 

Kenzoll Capital and MSF Commercials plan to invest $50 million to restart Namibia’s Sperrgebiet Diamond Mine, formerly known as Elizabeth Bay, which holds 10.5 million carats of onshore and offshore diamond resources. Part of the investment will fund exploration for other minerals.

 

US jewelry sales rose 7% year on year in September, as a 10% increase in the average retail sale outweighed a 3% decline in units sold, according to The Edge Retail Academy. The drop in unit sales was more moderate than in previous months. Diamond sales increased 5%, supported by a 9% rise in the average retail sale despite a 4% decline in units sold.

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Trans Atlantic Gem Sales (TAGS) and Sodiam generated $27.1 million in revenue at their rough tender in Luanda, Angola, implying an average price of about $15,700 per carat based on the 1,721 carats sold. The sale moved 94% of its 53 lots, sourced from 12 mines, and included a large number of exceptional special and fancy-colored stones, though the release does not say the goods were exclusively specials.

 

Solitaire settings accounted for 37% of engagement rings in Jewelers Mutual’s 2026 Engagement Ring Study, up from 22% in 2024, making them the most popular style. White gold remained the most common metal, although preference for platinum had grown considerably.

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Lugano Jewelry has been acquired by Middle West Partners and a group of longtime clients, following the completion of its reorganization on September 30. Josh Gaynor, who served as interim CEO, has been appointed chief executive and will join the board, while the company’s four boutiques and Newport Beach workshop remain open.

 

LVMH’s watches and jewelry division reported third-quarter sales growth of 6% year on year to EUR 2.5 billion ($2.8 billion), with the group citing a “very good performance” in jewelry. The division outperformed LVMH’s other product categories and accounted for 14% of group revenue, while total sales rose 2% to EUR 18.28 billion ($20.48 billion).

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Christie’s will offer a 24-carat fancy intense pink diamond ring by Bulgari at its Magnificent Jewels auction in Geneva on November 10, with an estimate of CHF10 million to CHF15 million ($12 million to $18 million). From a European noble family’s collection, the diamond has remained in private hands for more than 70 years and has never been sold at auction.

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Blue Nile will become Royal Asscher’s exclusive licensed retailer in North America under a new partnership between the two companies. The collaboration introduces a curated natural diamond assortment selected by the Asscher family and the 14-piece SIX by Royal Asscher jewelry collection, while Blue Nile will offer the brand’s six patented diamond cuts through its US website and showrooms.

 

Antwerp’s polished diamond trade continued to improve in September, according to the Antwerp World Diamond Centre (AWDC). Polished exports rose 19% year on year to $948.8 million, driven by a 136% increase in shipments to the US and strong growth in exports to the UAE, Israel and India. Polished imports grew 6% to $880 million, while rough imports fell 15% and rough exports declined 23%.

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Titan Company reported its domestic jewelry business grew approximately 21% year on year in the second quarter ending September 30, supported by strong growth in studded jewelry and a 20% increase in plain gold jewelry. Including its international business, Titan’s consumer businesses grew 25%.

 

Hong Kong’s sales of jewelry, watches, clocks and valuable gifts rose 12% year on year to HKD 5.14 billion ($655.3 million) in August, according to the city’s Census and Statistics Department. Total retail sales increased 6% to HKD 30.06 billion ($4.09 billion), with growth expected to continue as visitor arrivals rise and local consumer sentiment improves.

 

US online holiday sales are expected to reach a record $275.1 billion in November and December, rising 6.7% year on year, Adobe forecast. The report expects Cyber Week spending to increase 7.4% to $47.5 billion, while AI-driven traffic to retail sites is projected to jump 130% as consumers use the tools to find deals and research products.

 

Diamond prices continued their recovery in September, led by stronger gains in smaller, higher-quality stones, Rapaport reported. Its RAPI index for 0.30-carat diamonds rose 3.2% during the month, while the 0.50-carat index increased 2.5%, the 1-carat index edged up 0.3%, and the 3-carat index gained 1.5%.

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The Qatar Diamond Exchange joined CIBJO as a National Association Member, expanding its engagement from the diamond trade into the wider jewelry and gemstone sector. The move follows QDE’s admission to the WFDB and World Diamond Council, aligning the recently launched Doha exchange with key international standards and industry bodies.

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Petra Diamonds launched a strategic review to address its near-term liquidity needs, including a possible sale of its assets, which include the Cullinan and Finsch mines. The decision followed consultations with its first- and second-lien creditors, while José Manuel Vargas stepped down as chair and director and Lerato Molebatsi was appointed interim chair.

 

De Beers will take full ownership of the Gahcho Kué diamond mine in Canada after Mountain Province Diamonds agreed to transfer its 49% stake as part of a comprehensive restructuring. The transaction releases Mountain Province from its mine-related debts and reclamation liabilities, while preserving an option to repurchase its interest before the end of 2029.

 

Namdeb recovered a 176.29-carat natural diamond, named Owishi, at its Southern Coastal Mine in Oranjemund, Namibia. President Netumbo Nandi Ndaitwah said the discovery, the mine’s largest in two decades, reinforces Namibia’s position as a producer of high-quality gem diamonds and called for greater domestic beneficiation and stronger marketing of the country’s diamond story.

 

UK-based luxury jeweler Boodles has acquired the Argyle Pink Diamonds brand from Rio Tinto. The deal includes the remaining pink-diamond inventory, trademarks and digital assets, and transfers stewardship of the brand. The acquisition follows the 2020 closure of the Argyle mine, which produced more than 90% of the world’s pink diamonds.

 

Pandora opened a $150 million jewelry manufacturing facility in Ho Chi Minh City, Vietnam, its first production site outside Thailand. The plant, described as the world’s largest fine-jewelry crafting facility, will produce up to 60 million pieces annually, increasing Pandora’s manufacturing capacity by 50% and creating 7,000 jobs when fully operational.​​​​​​