top of page
  • YouTube
  • Instagram

New Beginnings

I’m thrilled to unveil my new website and branding.  

 

Have a look around and let me know what you think. The site is a work in progress, and I welcome your feedback. You can read the back story and philosophy of the site on my LinkedIn profile. Since many of you came from there today, I’d rather not bore you with a repeat performance.

 

I’ve also renamed this newsletter ‘Pressing Matters’ as I feel that encompasses more of what I aim to achieve every Monday with this weekly update. That is to provide context and meaning behind the diamond headlines, rather than provide the news – you can get a round up of the news at countless other sites and newsletters. That said, I'm quite excited about the summary provided at thediamondpress.com/breaking-news. (My apologies for the informercial-like shameless plug).

 

Anyway, I hinted to the newsletter change last week, and I’m still playing with it, so feel free to chime in with suggestions.

 

Meanwhile, here’s what’s happening...


>>> Signet Jewelers continued to underperform and lag the rest of the jewelry market during the holiday season. (See announcement here).

 

Why it matters:

Signet is the largest specialty jeweler and seller of diamond jewelry in the US.

 

Worth noting:

There are many theories as to why Signet is struggling to stimulate growth. Those include its emphasis on lab-grown diamonds, even as the category was an outstanding performer during the November-December period, with sales up 40% year on year. Still, one can’t help but consider that those transactions are in lieu of higher-priced natural diamonds that would have otherwise been made. I also feel that its portfolio might have one banner too many – is there a clear differentiation between Zales and Kay? It could additionally be that Signet is too big to find the agility required to thrive in the current environment. I offer another theory in this video. Note the fascinating discussion in the comments section. Whatever the reason, new CEO J.K Symancyk has his work cut out.


>>> In stark contrast, Richemont had an outstanding holiday season, with revenue up 10% to EUR 6.15 billion ($6.34 billion) in the fiscal third quarter that ended December 31. (See announcement here).

 

Why it matters: 

As the parent company of Buccellati, Cartier, Van Cleef & Arpels and Vhernier, Richemont provides a good representation for the state of the high-end jewelry consumer in various regions across the globe.

 

Main takeaways:

The quarter marked a sharp turnaround from the first fiscal half when sluggishness in Asia Pacific, Richemont’s largest market, weighed heavily on the group’s performance. Sales in China, Hong Kong, Macau remained weak during the latest quarter, declining 18% year on year, but there was an improvement in other Asian markets, notably Korea. That, together with stellar growth in all other regions propped up the total. Sales growth by region: Europe +19%, Asia Pacific -7%, the Americas +22%, Japan +15%, Middle East & Africa +21%.


>>> Rio Tinto’s diamond production grew 14% year on year to 775,000 carats in the fourth quarter but declined 17% to 2.7 million carats for the full year.

 

Why it matters:

Is Rio Tinto’s diamond adventure coming to an end? Rio was not too long ago the third largest producer of rough in the market, but it dropped down the pecking order with the closure of its high-volume Argyle mine in Australia. Today, its sole production comes from the Canada-based Diavik mine, which is slated to cease operations in 2026. It also divested from the Fort à la Corne exploration project in Canada. However, that doesn’t mark the complete end of Rio Tinto’s presence in the diamond trade. It still conducts exploration activity in Canada and has the license to evaluate the Chiri kimberlite in Angola’s prospective Lunda Sul Province. While those projects will take many years to develop, if they prove economically viable, Rio Tinto will likely be absent from the production circuit for some time once Diavik runs dry.

 

More from the blog / the web:

 

There’s much one can read into India’s diamond trade data. Here’s my take on the full-year 2024 numbers: India’s Diamond Trade at Multi-Year Lows.   

 

Thank you Hill & Co. for featuring me in The Business of Jewelry Report outlining the company’s strategic outlook for 2025.The report skillfully captures an engaging conversation I had with Stanley Zale, principal consultant at Hill & Co., about a wide range of issues affecting the diamond and jewelry market. That’s in addition to all the other great insights presented in the report, which can be downloaded here: The Business of Jewelry | Q1 2025. 

(PS, if you don’t already follow Hill & Co.'s unstoppable CEO Elle Hill and Stanley on LinkedIn, you absolutely should!).

 

Coming up:

 


 

Pic of the week:

Image: A man views a display of diamond jewelry at the VicenzaOro show which took place over the weekend. While I don’t get to attend Vicenza too often, it remains one of my favorite trade events - it’s simply a wonderland of jewelry design! (Image credit: Instagram.com/vicenzaoro/)
Image: A man views a display of diamond jewelry at the VicenzaOro show which took place over the weekend. While I don’t get to attend Vicenza too often, it remains one of my favorite trade events - it’s simply a wonderland of jewelry design! (Image credit: Instagram.com/vicenzaoro/)


Comments


Contact us For Advertising Opportunities

YOUR BRAND FEATURED HERE

3d-rendering-many-size-diamonds-dark-gray-surface.jpg

Stay Ahead in the Diamond Industry. Subscribe Now!

The Diamond Press

The Diamond Press is a leading platform for in-depth analysis, engaging storytelling and debate about the global diamond market from industry specialist Avi Krawitz.

© Copyright 2025 by Avi Krawitz. All Rights Reserved.

Join our community

Connect with us.

bottom of page