More Calm, Less Panic Ahead of Las Vegas Jewelry Week

We have a big week ahead as the Las Vegas shows kick off on Wednesday and continue through the weekend.

Las Vegas Jewelry Week remains one of the clearest indicators of the state of the US jewelry market and arguably offers the strongest networking environment on the industry calendar. The K-shaped economy has become a defining theme in how the US retail landscape has evolved, with jewelers increasingly shifting either toward higher-end, value-driven strategies or volume-based, price-focused models at the lower end, as the middle market continues to erode. I expect that dynamic will be front and center at the JCK show this year.

Alongside that, the usual themes will no doubt dominate discussion, the future of natural versus lab-grown diamonds, marketing efforts from the Natural Diamond Council and De Beers, and of course the future of De Beers itself, a topic I recently explored in depth in a major research paper linked in the banner above.

Overall, my sense is that the industry heads to Vegas in a better mood, and in a healthier state, than it was a year ago or even at the start of 2026. That doesn’t necessarily point to a recovery, even if the first quarter was relatively encouraging, but the trade feels calmer than it has for some time. The same concerns remain, yet there is less of the panic that has defined much of the past two years. That alone should create a more constructive atmosphere for the shows.

While I won’t be in Vegas this year, I recommend keeping an eye on the following events if you’re planning to attend:

JCK Talks educational seminars, Diamonds Do Good Awards on May 28, State of the Industry Panel (May 29), Origin De Beers Group Panel: Unlocking New Value in Retail (May 29), Rapaport Breakfast: Diamond Opportunities: The Way Forward  (May 31), and Facets, An Evening Benefiting JFC (May 31). I'd also keep a look out for the Natural Diamond Council's program and The House of Botswana on the trading floor.

Have a great show!

This blog first appeared in the May 18 Pressing Matters Executive Memo. Read the full memo here, Pressing Matters.