Cibjo has approved revisions to its Diamond and Colored Stone Blue Books recommending that “synthetic” become the sole scientific descriptor for created diamonds and gemstones with the same composition, properties and structure as their natural counterparts. The organization acknowledged that “laboratory-grown” and “laboratory-created” remain accepted marketing terms in some jurisdictions, where local laws take precedence, but said “synthetic” is the clearest term for international communication.

 

Watches of Switzerland maintained positive momentum in the fiscal first quarter ending August 30, keeping it on track to achieve full-year revenue growth of 5% to 10% at constant currency and adjusted EBIT-margin expansion of 40 to 80 basis points. Growth was supported by strong US demand, improving conditions in the UK, and gains in luxury jewelry, certified pre-owned watches and ecommerce, the company said.

 

Christie’s appointed Remi Guillemin as global head of watches, based in Geneva, placing him in charge of the auction house’s worldwide watch auctions and private sales. The appointment follows a 39% year-on-year rise in Christie’s global watch sales in the first half, reflecting continued demand for rare and important timepieces.

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The International Fine Jewellery Academy will launch in Milan to offer courses in craftsmanship, research and development, sustainability, international standards and emerging technologies. Founded by Milan vocational education institution CAPAC, jewelry craft and innovation foundation Fondazione Mani Intelligenti, and CIBJO, the academy aims to help preserve craft expertise while strengthening the jewelry industry’s competitiveness in a rapidly changing market.

 

The London Diamond Bourse will use “synthetic diamond” to describe manmade stones and is urging its UK members to adopt the terminology, calling it the clearest distinction from natural diamonds. The move aligns with a recent World Federation of Diamond Bourses resolution and follows increased scrutiny of UK advertising practices for synthetic diamonds.

 

HRD Antwerp expanded its Mumbai laboratory, increasing its daily diamond-grading capacity by 30% to 2,000 stones and adding 40 full-time employees. Belgian Prime Minister Bart De Wever inaugurated the facility during a visit to India, as the laboratory seeks to meet rising demand for grading services in the country’s diamond and jewelry market.

 

Gem Diamonds returned to profit in the first half as revenue rose 32% year on year to $59.7 million. The average price achieved at its high-value Letšeng mine climbed 38% to $1,395 per carat, driven by an improved mix and firmer prices for better-quality goods. The company reported net profit of $3.1 million, compared with a $16 million loss a year earlier.

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Polished diamond prices continued to firm in August, led by a recovery in demand for smaller goods, Rapaport reported. Supply cuts and stabilizing demand supported the improvement, with its RAPI index rising 2% for 0.30-carat diamonds, 2.5% for 0.50-carat goods and 0.5% for 1-carat stones.

 

Cibjo will unveil two works by Canadian visual artist Reena Ahluwalia at its Congress in Vicenza, Italy, to mark the World Jewellery Confederation’s centenary. The artworks, a diamond-and-gold painting and a commemorative medal, will be donated to the Museo del Gioiello in Vicenza.

 

Sales of investment-grade diamonds in Russia rose 39% in the second quarter from the prior quarter, Alrosa reported, citing growing interest among private- and premium-banking clients. The miner attributed the increase to tighter availability of large diamonds and investors’ efforts to diversify portfolios amid volatility in other asset classes.

 

Lucara Diamond Corp.’s $350 million bond began trading in Oslo on September 3, after the company raised the funds in March. Lucara used most of the money to repay existing loans, with the remainder set aside for future interest payments and the continued expansion of its Karowe underground mine, it said.

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Kering has appointed Charlotte Fournet as CEO of Pomellato and Krizia Cucurachi as CEO of DoDo, effective September 15. Both executives will report to Kering Jewelry CEO Jean-Marc Duplaix as the luxury group seeks to strengthen the brands’ growth, distribution and international positioning.

 

The Dubai Multi Commodities Centre (DMCC) has established a dedicated lab-grown diamond vertical, separating the sector from its natural diamond and colored gemstone activities as it seeks to develop tailored trade infrastructure for the fast-growing category. The initiative will focus not only on jewelry, but also on industrial applications including semiconductors, diamond wafers, quantum technologies, aerospace and medical devices.

 

Mountain Province Diamonds chief financial officer Steven Thomas stepped down on September 1 to pursue other opportunities, the miner said. Thomas, who held the role for four years, will remain in an advisory capacity during the transition, while the company has yet to name a replacement.

 

Hong Kong’s sales of jewelry, watches, clocks and valuable gifts rose 20% year on year in July. Overall retail sales increased for a fifth consecutive month, with continued economic expansion, rising household incomes and stable labor-market conditions expected to support consumer sentiment, the Census and Statistics Department said.​​​​