David Kellie will step down as CEO of the Natural Diamond Council (NDC) at the end of 2025, he announced on LinkedIn. Kellie informed the NDC board after last month’s signing of the Luanda Accord, which secured additional funding for the organization. He will remain through year-end to onboard new members and oversee the launch of a new marketing campaign in Q4.

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Belgium’s polished diamond exports fell 34% year-on-year to $370.5 million in June, while imports dropped 45% to $421.2 million, according to the Antwerp World Diamond Centre (AWDC). Rough imports declined 30% to $266 million, and rough exports slipped 11% to $296.1 million. In the first half of 2025, polished exports fell 30% to $3.14 billion, with shipments to the U.S. down 50% and to Hong Kong by 32%.

 

Watches of Switzerland reported a 7% increase in group revenue to GBP 1.65 billion ($2.25 billion) for the fiscal year ended April 27, 2025. Growth was driven by its luxury jewelry segment, where revenue more than doubled following the acquisition of Roberto Coin. Luxury branded jewelry saw double-digit growth overall. Sales rose 14% in the US and 2% in the UK and Europe. Operating profit declined 5% to GBP 114 million ($156 million).

 

Sales of jewelry, watches, clocks, and valuable gifts in Hong Kong declined 3.2% year-on-year in May 2025, according to the Census and Statistics Department. Overall retail sales fell 2.4% during the month, as the sector continues to adjust to evolving consumer spending habits, a government spokesperson said. 

 

Tse Sui Luen Jewellery (TSL) reported a 35% year-on-year sales decline to HKD 1.71 billion ($218 million) for the fiscal year ended March 31, 2025. Net loss narrowed to HKD 197.8 million ($25.2 million) from HKD 374.3 million ($47.7 million) the previous year. The company cited weak demand for natural diamond jewelry and lower 24K gold sales due to surging gold prices.

 

Birks Group has obtained a $13.5 million loan from SLR Credit Solutions to support its acquisition of jewelry stores across Canada and to bolster working capital. The loan is due in full by December 24, 2026. In addition, the retail jewelry chain received a $3.5 million loan from major shareholder Mangrove Holding to further support working capital needs.