Lucara Diamond Corp. reported profit rose 24% year on year to $15.6 million in the second quarter, despite a 6% decline in revenue to $41 million, as lower costs and a foreign exchange gain boosted earnings. Sales volume fell 24% while the average price rose 24%, with sales of specials to HB Antwerp flat at $33.9 million, tender sales down 30% to $5.4 million and Clara sales falling 10% to $1.7 million.

 

Birks Group plans to voluntarily delist its shares from the New York Stock Exchange (NYSE) American after falling out of compliance with the exchange’s continued listing standards. The Canadian jewelry retailer expects its last day of trading on the exchange to be around August 27, after which its shares will begin trading on the OTCQB Venture Market.

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Brilliant Earth's sales rose 6% year on year to $115.1 million in the second quarter, driven by an 8% increase in average order value to $2,238. The jewelry retailer swung to a net profit of $842,000 from a loss of $1.1 million a year earlier, as growth in its fine jewelry business continued to outpace bridal, CEO Beth Gerstein said.

 

India has introduced legislation that would exempt income from the sale of rough diamonds from tax for eligible foreign mining companies, sightholders, brokers, aggregators and tender or auction operators, provided the transactions take place in a notified special zone. The exemption, effective from October 1 if enacted, would apply through the tax year ending March 31, 2041, and cover Kimberley Process-certified rough diamonds.

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Alrosa reported a net loss of RUB 10.67 billion ($130.1 million) for the first half of 2026, compared with a profit of RUB 39.03 billion ($476.1 million) a year earlier, as revenue fell 36% to RUB 74.16 billion ($904.5 million). Inventory increased 4% to RUB 192.72 billion ($2.35 billion), while the Russian miner did not disclose production for the period.

 

Russian President Vladimir Putin met with Alrosa CEO Pavel Marinychev to discuss the diamond industry's outlook, the company's performance and major investment projects, including the Mir-Gluboky underground mine, which is expected to support production through 2070. Marinychev highlighted government efforts to expand domestic diamond manufacturing and welcomed new regulations, effective September 1, that will require clearer differentiation between natural and synthetic diamonds in Russia.

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Polished diamond prices continued to strengthen in July, with lower production supporting the recovery in smaller goods, according to Rapaport. The Rapaport Trade Diamond Index (RAPI) for 0.30-carat diamonds rose 1.6% during the month and was up 9.4% for the first seven months of the year, while the 0.50-carat index increased 1.8%. The 1-carat and 3-carat indices were unchanged.

 

Gross jewelry sales at US independent jewelers rose 10% year on year in July, driven by a 12% increase in the average retail sale despite a 2% decline in unit sales, according to The Edge Retail Academy. Diamond jewelry sales increased 11%, with unit sales up 1% and the average retail sale rising 9%.

 

Pandora appointed André Branch as president of its North America business, effective August 15, as the jeweler seeks to accelerate growth in one of its largest markets. Branch joins from the beauty industry, most recently serving as CEO of R.E.M. Beauty, and previously held senior roles at Estée Lauder, L'Oréal and other consumer brands. He succeeds Luciano Rodembusch, who left the company in February.

 

Hong Kong's sales of jewelry, watches, clocks and valuable gifts rose 20% year on year in June, according to the Hong Kong Census and Statistics Department. Overall retail sales increased 4.6%, marking a 14th consecutive month of growth, supported by continued economic expansion, rising household income and a steady increase in inbound tourism, the department said.

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The Fancy Color Research Foundation's Fancy Color Diamond Index slipped 0.1% in the second quarter, marking a second consecutive quarter of minimal movement and underscoring the stability of the fancy-color diamond market. Pink diamonds rose 0.1%, while yellow and blue diamonds declined 0.3% and 0.4%, respectively, with the overall index down just 0.5% from a year earlier, FCRF reported.

 

Michael Hill reported sales rose 2% year on year to AUD 654.7 million for the year ended June 28, driven by growth across all regions. Same-store sales increased 5% in Australia, 7% in Canada and 3.6% in New Zealand, while earnings before interest and tax (EBIT) is expected to reach AUD 22 million to AUD 24 million, up from AUD 15.3 million a year earlier.

 

Anglo American is still considering multiple bidders for De Beers, CEO Duncan Wanblad told reporters, rejecting claims that the company had selected a preferred consortium. Wanblad also ruled out a public listing, saying capital markets currently lack the capacity for such a deal, while adding there has been "some real traction" toward a trade sale. Anglo expects to provide an update in the second half of 2026.​​​