News Roundup September 2026
Several diamond-related regulatory developments took effect in September, both within the trade and at government level. They reinforced the need for a refreshed approach to category marketing, which took shape with the launch of The Diamond Collective. Meanwhile, most segments of the industry showed further signs of stabilization and improvement, with mining the notable exception. Here is the full roundup of the news affecting the diamond and jewelry market in September.
Synthetics and Disclosure
Cibjo – The World Jewellery Confederation approved revisions to its Diamond and Colored Stone Blue Books recommending that “synthetic” become the sole scientific descriptor for created diamonds and gemstones with the same composition, properties and structure as their natural counterparts. The organization acknowledged that “laboratory-grown” and “laboratory-created” remain accepted marketing terms in some jurisdictions, where local laws take precedence, but stressed that “synthetic” is the clearest term for international communication.
Mehul Shah, president of the World Federation of Diamond Bourses (WFDB) urged the trade to prioritize clear, locally understood declarations for synthetic diamonds, rather than dwell on the terminology debate. Speaking at the CIBJO Congress, he also called for grading reports to use local-language disclosures and proposed a “Natural Diamond Mark” to help consumers distinguish natural diamonds.
The London Diamond Bourse will use “synthetic diamond” to describe manmade stones and is urging its UK members to adopt the terminology, calling it the clearest distinction from natural diamonds. The move aligns with a recent World Federation of Diamond Bourses resolution and follows increased scrutiny of UK advertising practices for synthetic diamonds.
The Dubai Multi Commodities Centre (DMCC) established a dedicated lab-grown diamond vertical, separating the sector from its natural diamond and colored gemstone activities as it seeks to develop tailored trade infrastructure for the fast-growing category. The initiative will focus not only on jewelry, but also on industrial applications including semiconductors, diamond wafers, quantum technologies, aerospace and medical devices.
A New Marketing Direction
The Natural Diamond Council has been rebranded as The Diamond Collective. The natural-diamond marketing and advocacy organization said it will unite the industry around shared growth priorities, strengthen consumer confidence and counter misinformation. The group stressed it aims to “grow demand and create lasting value across the entire category” through stories, style and culture.
Green Claims Under Scrutiny
The European Union’s new green marketing rules took effect September 27, tightening restrictions on making environmental and sustainability claims in advertising. The move aims to curb greenwashing. Diamond and jewelry companies selling in Europe must ensure claims such as “sustainable,” “responsibly sourced,” “eco-friendly” or “green” are clear, specific and supported by credible evidence.
SCS Global Services and SCS Standards and Assurance ended their SCS-007 certification program for sustainably produced gemstones on September 1, citing insufficient market adoption and the lack of a regulatory route for product-level chain-of-custody claims. Companies already certified may continue to use the designation until it expires, the organizations said.
De Beers and the National Geographic Society renewed their Okavango Eternal partnership for a further five years, aiming to secure formal protection for 5.4 million hectares at the Okavango River Basin’s source in Angola. The initiative will deepen cooperation with Botswana, Angola and Namibia, where governments have formed an alliance to safeguard the basin and support conservation-linked livelihoods.
The Watch & Jewellery Initiative 2030, the Alliance for Responsible Mining and Truly Precious launched a free pilot program to help up to 20 small and medium-sized jewelry businesses develop responsible-sourcing plans. The four-module Conscious Craft Lab will run from September through January, with participants producing supply-chain maps, supplier questionnaires and a tailored sourcing roadmap.
US Retail Gains
Gross sales of diamond jewelry at US independent jewelers rose 8% year on year in August, according to the Edge Retail Academy. Diamonds were the strongest-performing product category during the month, as an 18% increase in the average transaction price offset a 9% decline in unit sales. Total sales across all categories rose 5%.
General US retail sales rose 6% year on year in August, marking the 11th consecutive month of growth, according to Census Bureau data cited by the National Retail Federation. The NRF attributed the increase to low unemployment and steady wage gains, while noting that households remained budget-conscious and responded strongly to back-to-school promotions.
US consumers expect to maintain their holiday spending this year despite continued concerns about inflation, according to McKinsey. Gen Z consumers showed a greater intention to spend on jewelry and accessories than other generations, while shoppers across the market are seeking value and using AI tools to compare products and find deals.
Jewelers Hold Firm
Signet Jewelers swung to a profit of $52.1 million in the second quarter ending August 1, compared with a loss of $9.1 million a year earlier, as it reduced costs and expenses. Sales were flat at $1.53 billion, while the company raised its full-year guidance to operating profit of $535 million to $605 million and same-store sales ranging from flat to up 2.5%.
Macy’s Inc. reported strong demand for jewelry in the second quarter, with watches among the best-performing categories at Macy’s and fine jewelry outperforming at Bloomingdale’s. The department store group said it is using part of its tariff-refund proceeds to sharpen pricing in fine jewelry, while higher sales of watches and jewelry contributed to a 9% increase in average unit retail.
Watches of Switzerland maintained positive momentum in the fiscal first quarter ending August 30, keeping it on track to achieve full-year revenue growth of 5% to 10% at constant currency and adjusted EBIT-margin expansion of 40 to 80 basis points. Growth was supported by strong US demand, improving conditions in the UK, and gains in luxury jewelry, certified pre-owned watches and ecommerce, the company said.
Hong Kong’s sales of jewelry, watches, clocks and valuable gifts rose 20% year on year in July. Overall retail sales increased for a fifth consecutive month, with continued economic expansion, rising household incomes and stable labor-market conditions expected to support consumer sentiment, the Census and Statistics Department said.
Trade Conditions Improve
Polished diamond prices continued to firm in August, led by a recovery in demand for smaller goods, Rapaport reported. Supply cuts and stabilizing demand supported the improvement, with its RAPI index rising 2% for 0.30-carat diamonds, 2.5% for 0.50-carat goods and 0.5% for 1-carat stones.
Belgium’s polished diamond trade continued to improve in August, with imports rising 29% year on year to $400.1 million and exports increasing 17% to $268.2 million. Exports to the US surged 75%, while polished imports rose from all major supply centers. Rough imports fell 7% to $275.3 million and exports declined 19% to $125 million, according to the Antwerp World Diamond Centre.
India’s polished diamond exports fell 5% year on year to $925.5 million in August, as a 3% increase in volume was offset by an 8% decline in the average price to $692 per carat. Rough imports slipped 1% to $758.5 million, as the average price fell 51% to $59 per carat, according to the Gem and Jewellery Export Promotion Council.
Swiss watch exports grew 9% year on year to CHF 1.79 billion ($2.18 billion) in August, the Federation of the Swiss Watch Industry reported. Shipments to France more than doubled, while exports to the US, Switzerland’s largest market, fell 19%. Exports of precious-metal watches declined 1% to CHF 660.8 million ($804.5 million).
Mining Under pressure
Moody’s downgraded Botswana’s sovereign rating to Baa2 from Baa1, warning that weaker diamond revenue and persistent budget deficits are eroding the country’s fiscal resilience. The agency expects government debt to rise to 41% of GDP by fiscal 2027, despite recent tax and spending measures aimed at narrowing the deficit.
Sales of investment-grade diamonds in Russia rose 39% in the second quarter from the prior quarter, Alrosa reported, citing growing interest among private- and premium-banking clients. The miner attributed the increase to tighter availability of large diamonds and investors’ efforts to diversify portfolios amid volatility in other asset classes.
Gem Diamonds returned to profit in the first half as revenue rose 32% year on year to $59.7 million. The average price achieved at its high-value Letšeng mine climbed 38% to $1,395 per carat, driven by an improved mix and firmer prices for better-quality goods. The company reported net profit of $3.1 million, compared with a $16 million loss a year earlier.
Lucara Diamond Corp.’s $350 million bond began trading in Oslo on September 3, after the company raised the funds in March. Lucara used most of the money to repay existing loans, with the remainder set aside for future interest payments and the continued expansion of its Karowe underground mine, it said.
Mountain Province Diamonds chief financial officer Steven Thomas stepped down on September 1 to pursue other opportunities, the miner said. Thomas, who held the role for four years, will remain in an advisory capacity during the transition, while the company has yet to name a replacement.
Gemfields expects to report a net loss of $73.5 million for the first half, compared with a $20.5 million loss a year earlier, after taking a $125.2 million impairment charge at its Montepuez ruby mine in Mozambique. Auction revenue more than doubled to $102.8 million, although the comparison reflects the deferral of a mixed-quality ruby auction from December 2025 to February.
Auction Highlights
Christie’s will present a 14.63-carat fancy orangy-pink diamond ring by David Morris at its Geneva auction in November, estimated at $1.6 million to $2.6 million. The piece will feature in the Exceptional Jewels & Objects of Elegance: A Connoisseur’s Collection sale, alongside jewelry by Van Cleef & Arpels, Graff, Cartier and Bulgari.
Christie’s Hong Kong will offer an 8.41-carat fancy vivid purple-pink diamond ring as the leading lot at its Magnificent Jewels sale on November 24. Other highlights include a Cartier ruby and diamond brooch featuring a 10.10-carat pigeon’s-blood Burmese ruby.
Sotheby’s Hong Kong High Jewelry sale achieved HKD 267.5 million ($34.1 million). The top lot was a 1930s Art Deco ruby and diamond necklace, which sold for HKD 16 million ($2 million) and featured tumbled rubies, ruby beads, and old European-cut, square and baguette diamonds.
Industry Alliances
The Shanghai Diamond Exchange and government representatives from Botswana, Namibia and South Africa signed the Beijing Declaration on Natural Diamonds and Sustainable Development. The agreement aims to strengthen links between African producers and Chinese consumers. It promotes consumer education on natural diamond provenance and socioeconomic impact, while supporting local value creation, skills development and closer China-Africa cooperation across the supply chain.
The Plumb Club and the Jewelers Vigilance Committee (JVC) formed a strategic alliance to promote ethical business practices, education and regulatory compliance across the jewelry trade. The Plumb Club will also participate in JVC’s government advocacy efforts, including its work with the Federal Trade Commission and consumer-affairs agencies.
The Plumb Club also formed a strategic partnership with Jewelers of America aiming to strengthen the industry’s advocacy efforts through the Jewelers of America Political Action Committee. The Plumb Club’s Steven Lerche and Roger Forman have joined the JAPAC board, while the organizations said they will also collaborate on education and events to support jewelry businesses.
The Qatar Diamond Exchange and Borsa Diamanti d’Italia signed a memorandum of understanding establishing a partnership between the two bourses. The agreement will encourage commercial links between their members through mutual introductions, reciprocal visits and invitations to industry events, tenders, auctions and viewings.
Lab Expansion
GCAL by Sarine opened a jewelry certification and quality-assurance lab in Mumbai’s SEEPZ export zone. The facility expands the company’s Indian presence beyond its Surat diamond-grading lab, serving jewelry manufacturers and exporters ahead of the peak season.
HRD Antwerp expanded its Mumbai laboratory, increasing its daily diamond-grading capacity by 30% to 2,000 stones and adding 40 full-time employees. Belgian Prime Minister Bart De Wever inaugurated the facility during a visit to India, as the laboratory seeks to meet rising demand for grading services in the country’s diamond and jewelry market.
Education Initiatives
The Foundation Haute Horlogerie partnered with the Gemological Institute of America to offer FHH Academy watchmaking courses to GIA students worldwide, beginning in early 2027. The program will start with the entry-level Watch Advisor certification and tutor-led sessions, expanding access to horological education through GIA’s campuses and online network.
The International Fine Jewellery Academy will launch in Milan to offer courses in craftsmanship, research and development, sustainability, international standards and emerging technologies. Founded by Milan vocational education institution CAPAC, jewelry craft and innovation foundation Fondazione Mani Intelligenti, and CIBJO, the academy aims to help preserve craft expertise while strengthening the jewelry industry’s competitiveness in a rapidly changing market.
Executive Moves
Gaetano Cavalieri was re-elected unopposed as Cibjo president at the close of the organization’s Centenary Congress in Vicenza, extending his leadership of the World Jewellery Confederation. The General Assembly also re-elected vice-presidents Jonathan Kendall, Kenneth Scarratt and Pramod Agrawal, while approving a new Board of Directors representing key jewellery markets worldwide.
Kering has appointed Charlotte Fournet as CEO of Pomellato and Krizia Cucurachi as CEO of DoDo, effective September 15. Both executives will report to Kering Jewelry CEO Jean-Marc Duplaix as the luxury group seeks to strengthen the brands’ growth, distribution and international positioning.
Christie’s appointed Remi Guillemin as global head of watches, based in Geneva, placing him in charge of the auction house’s worldwide watch auctions and private sales. The appointment follows a 39% year-on-year rise in Christie’s global watch sales in the first half, reflecting continued demand for rare and important timepieces.
Frederik Degryse will step down as CEO of iTraceiT at the end of September. Chief Technology Officer Guy De Smet will succeed him, while Degryse will remain involved in an advisory capacity on key projects during the transition.
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