April 2026 News Roundup
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De Beers Sale
Anglo American’s sale of De Beers has entered its next phase, with three groups submitting revised bids ahead of the April 16 deadline. Botswana is still seeking to increase its stake to a majority position, Bloomberg reported, though any move would likely be structured alongside one of the private bids. The competing groups are led by former De Beers CEO Gareth Penny, Australian mining veteran Michael O’Keeffe, and diamond trader Nir Livnat. A group of sightholders is backing Penny’s bid, according to Rapaport.
Market Makers
The inaugural World Diamond Day on April 8 mobilized participants across more than 50 countries, generating a surge in global searches and social engagement around natural diamonds, the Natural Diamond Council said. The campaign reached over 30 million users on social media and drove a roughly 30% increase in search demand, highlighting growing consumer interest fueled by storytelling across the value chain.
De Beers Group expanded its Desert Diamonds campaign into the bridal category, introducing a lighter, warm-toned palette aimed at engagement and wedding jewelry. The campaign builds on earlier momentum and is supported by a broad industry collaboration and integrated marketing push to drive demand for natural diamonds, the company said.
Miner Developments
De Beers plans to cease operations at the Gahcho Kué mine in 2028, earlier than its previously scheduled closure around 2030, according to its water license annual report filed in March. The move follows a decision to pause the expansion project at the Tuzo pipe. De Beers owns a 51% stake in the mine, with Mountain Province holding the remainder.
Diamond production at the Diavik mine rose 11% year on year to 1.04 million carats in the first quarter, Rio Tinto reported. The company in March announced it has ended operations at the mine in Canada’s Northwest Territories.
Angola’s rough diamond production grew 8% to 15.19 million carats in 2025, the Ministry of Mineral Resources, Petroleum and Gas reported. Exports reached 17 million carats valued at $1.6 billion, with 78.6% shipped to the UAE and 19.9% to Antwerp.
Rough Sales
De Beers rough sales rose 25% year on year to $648 million in the first quarter, driven by a 53% increase in volumes sold, Anglo American reported. The average price fell 19% to $101 per carat, while the group’s rough price index declined 17%, reflecting continued pressure from industry, geopolitical and tariff headwinds. Production increased 17% to 7.1 million carats.
Mountain Province reported sales fell 42% to $155.7 million in 2025, reflecting weak market conditions and lower-grade ore from the Gahcho Kué mine, its joint venture with De Beers. The company recorded a net loss of $279.5 million, including a $154.1 million loss from mining operations and a $103.1 million impairment on property, plant and equipment.
Big Reveals
The Jwaneng 28.88 sold for HKD 21.03 million ($2.7 million) at the Hong Kong High Jewelry sale. The 28.88-carat, round, D-flawless De Beers diamond from the Jwaneng mine in Botswana was among the top lots, as the auction totaled HKD 256.9 million ($32.8 million).
Sotheby’s High Jewelry sale in Geneva will feature a cushion-shaped, 6.03-carat, fancy vivid blue, internally flawless type IIb diamond from the Cullinan mine in South Africa. This leading lot carries a presale estimate of CHF 7.2 million to CHF 9.6 million ($9.1 million to $12.2 million), the auction house said.
Christie’s unveiled The Ocean Dream, a triangular-cut, 5.50-carat, fancy vivid blue-green diamond that will headline its Magnificent Jewels sale in Geneva on May 13. The stone is the largest fancy vivid blue-green diamond ever certified by the Gemological Institute of America (GIA), according to Christie’s. It is expected to sell for CHF 7 million to CHF 10 million ($8.9 million to $12.7 million).
Retail Sales
LVMH reported watches and jewelry sales fell 2% year on year to EUR 2.44 billion ($2.88 billion) in the first quarter, though the division grew 7% organically at constant exchange rates. The group said Tiffany & Co. delivered an excellent performance, with its Hardwear collection posting very strong growth, while Bulgari also achieved solid gains.
Kering’s jewelry sales grew 14% year on year to EUR 269 million ($315.4 million) in the first quarter, reaching a record level. Growth was driven by all regions except Western Europe, with North America up 34%, Japan 57% and Asia Pacific 19%, while Boucheron delivered the strongest brand performance, the luxury group said.
Chow Tai Fook reported retail sales fell 1.5% in the fiscal fourth quarter ending March 31. Sales in mainland China declined 8%, while Hong Kong, Macau and other markets rose 59%. Same-store sales of fixed-price jewelry, including gem-set pieces, fell 10% in mainland China and increased 39% in other markets.
Luk Fook reported retail sales rose 19% year on year in the fourth quarter ending March 31, with Hong Kong, Macau and overseas up 41% and mainland China increasing 8%. Group same-store sales climbed 33%, driven by a 42% rise in gold sales and a 55% increase in gem-set jewelry.
Titan Company reported sales in its core India market rose 42% year on year in the fiscal fourth quarter, with jewelry revenue up 46% driven by strong performances at Tanishq and Mia. Growth reflected higher ticket sizes and increased buyer volumes, alongside solid demand for studded jewelry and gold. International sales surged 156%.
Macro Retail
Sales by US jewelry independents rose 5% year on year in March, according to Tenoris, as a 16.5% increase in average retail prices offset a 9.9% decline in units sold. Diamond sales slipped 0.2%. The Edge Retail Academy noted similar trends.
US retail sales rose 7% year on year in March, marking a sixth consecutive month of growth, according to the National Retail Federation’s CNBC/NRF Retail Monitor. The NRF said the first wave of tax refunds helped offset higher gas prices linked to the conflict in the Middle East.
The number of jewelers operating in the US fell 2.4% year on year to 21,949 in the first quarter, according to the Jewelers Board of Trade (JBT). Of those, 16,667 were retailers, 3,216 wholesalers and 2,066 manufacturers. During the period, 133 businesses closed, alongside 20 consolidations and 6 bankruptcies, while 87 new businesses were established.
Consumer spending on Mother’s Day is expected to reach a record $38 billion, with jewelry the leading category, the National Retail Federation (NRF) said. Jewelry sales are projected to total $7.5 billion, with the share of consumers planning to buy jewelry rising to 45% from 42% last year.
Hong Kong’s sales of jewelry, watches, clocks and valuable gifts rose 28% year on year in January and February, data from the Census and Statistics Department showed. Total retail sales increased 12% over the period, with growth of 19% in February and 6% in January.
Trade Data
Polished diamond prices declined further in March, according to Rapaport’s RapNet Diamond Index (RAPI), even as demand remained firm and supply tight for goods above 2 carats. The 1-carat RAPI fell 1.7% in the month and was down 4.2% for the first quarter.
India’s diamond trade slowed in March, according to the Gem and Jewellery Export Promotion Council (GJEPC). Rough imports fell 45% year on year to $720 million, with volume down 31% and average prices declining 20%, while polished exports dropped 27% to $839 million as volume slipped 20% and average prices fell 9%.
Belgium’s polished imports rose 14% year on year to $843.2 million in March, driven by a 70% jump in shipments from the UAE and a 112% surge from Switzerland, the AWDC reported. Polished exports fell 13% to $356.9 million, while rough imports climbed 76% to $312.1 million and exports rose 18% to $267.7 million.
Swiss watch exports slipped 1% year on year to CHF 2.11 billion ($2.11 billion) in March, the Federation of the Swiss Watch Industry reported. Shipments to the US fell 2%, while other key markets posted gains, and exports of precious metal watches declined 4% to CHF 719.7 million ($914.6 million). Total exports rose 1.4% in the first quarter.
Movers & Shakers
The Natural Diamond Council appointed Susie Dewey as chief marketing officer, where she will lead global marketing and communications from London. She brings more than 17 years of experience, including roles at Tapestry, NET-A-PORTER, Michael Kors, Topshop and Burberry.
Alrosa’s board extended Pavel Marinychev’s term as CEO and chairman for another three years, the company said. Marinychev joined the miner in 2016 and was appointed CEO in 2023.
The Gemological Institute of America (GIA) appointed John Cowley as chief financial officer, replacing David Tearle, who will remain in an advisory role through June. Cowley previously served as CFO of software services company Solvd, capping a 25-year career spanning software, medical technology, the nonprofit sector and public service.
Sarine Technologies said CEO David Block will step down on June 30, ending a 20-year tenure at the company, including nine years in the top role. The company did not disclose a successor.
The Diamond Club West Coast elected its new board, with Kalpesh Jhaveri continuing as president and Vipul Udani and Lisa Kim Wiener serving as co-vice presidents. The group said the board includes five young diamantaires and four women.
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