News from the Gem & Jewelry Industry
Reena Ahluwalia paints Mouawad diamond -
Designer and diamond painter Reena Ahluwalia has painted the Mouawad - Miss Universe Power of Unity Crown. The diamond painting was commissioned by Mouawad co-guardian Fred Mouawad, and will be auctioned to make a positive societal contribution and impact. In the past Ahluwalia has painted a series of historic Mouawad diamonds, including the Mouawad Dragon and the Mouawad Dynasty. “I paint diamonds to celebrate nature, our shining human spirit and humanity. I believe we all are like diamonds—we come in all colors, we are brilliant and full of potential,” said the designer.
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Designer and diamond painter Reena Ahluwalia has painted the Mouawad - Miss Universe Power of Unity Crown. The diamond painting was commissioned by Mouawad co-guardian Fred Mouawad, and will be auctioned to make a positive societal contribution and impact. In the past Ahluwalia has painted a series of historic Mouawad diamonds, including the Mouawad Dragon and the Mouawad Dynasty. “I paint diamonds to celebrate nature, our shining human spirit and humanity. I believe we all are like diamonds—we come in all colors, we are brilliant and full of potential,” said the designer.
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Exploring the evolution of jewelry -
The history of jewelry traces back to some of the world’s most remote civilizations. From shells, pebbles and fishbones to precious metals, jewelry was utilized to decorate the body during a variety of rituals and ceremonies. Over the decades, the materials and designs of jewelry have evolved. While some styles are fleeting – changing as new fashion trends emerge – other items, such as pearls have preserved their timeless elegance.
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The history of jewelry traces back to some of the world’s most remote civilizations. From shells, pebbles and fishbones to precious metals, jewelry was utilized to decorate the body during a variety of rituals and ceremonies. Over the decades, the materials and designs of jewelry have evolved. While some styles are fleeting – changing as new fashion trends emerge – other items, such as pearls have preserved their timeless elegance.
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"Uber-rare" Patek Phillippe watch sells for record $7.8m -
One of the world's rarest watches, a Patek Philippe Reference 2523 with Eurasian Dial, sold at auction for a record $7.8m. Nine telephone bidders battled it out for the newly-discovered timepiece, one of just three known to exist globally. The buyer remains anonymous. The watch fetched more than double its $3.7m estimate at the Geneva Watch Auction.
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One of the world's rarest watches, a Patek Philippe Reference 2523 with Eurasian Dial, sold at auction for a record $7.8m. Nine telephone bidders battled it out for the newly-discovered timepiece, one of just three known to exist globally. The buyer remains anonymous. The watch fetched more than double its $3.7m estimate at the Geneva Watch Auction.
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Sotheby's scores with royal tiara in Geneva -
A royal tiara “tried on” over 22,000 times on Instagram sold for more than $1 million at Sotheby’s, making it one of the top-grossing lots at the Geneva auction. The headpiece, which became Sotheby’s most popular augmented-reality filter on social media, brought in $1.6 million — just over its high estimate — at the May 11 Magnificent Jewels and Noble Jewels sale. That price is one of the highest paid at auction for a tiara in recent years said Sotheby’s. In total, the auction garnered $56 million. Read More
A royal tiara “tried on” over 22,000 times on Instagram sold for more than $1 million at Sotheby’s, making it one of the top-grossing lots at the Geneva auction. The headpiece, which became Sotheby’s most popular augmented-reality filter on social media, brought in $1.6 million — just over its high estimate — at the May 11 Magnificent Jewels and Noble Jewels sale. That price is one of the highest paid at auction for a tiara in recent years said Sotheby’s. In total, the auction garnered $56 million. Read More
Open-pit operations begin at Morila gold mine in Mali - Firefinch has announced that open-pit mining operations have commenced at the Morila gold mine in Mali. Mining is underway at Morila Pit 5, a mining area located on the western margin of the Morila Super Pit. Malian-owned and operated contractor EGTF has mobilised a new 100 tonne class fleet, completed all mining preparatory works including re-establishment of the haul road to the crushers, and commenced mining and haulage to the crusher run of mine (RoM) stockpiles.
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All things bright and beautiful -
The popularity of coloured gemstones continues to offer jewellers a spectrum of possibilities and new innovations in supply chain transparency are making the sector more desirable. There is no denying the appeal of coloured gemstones. From the high jewellery of Paris Couture Fashion Week to Tiffany & Co.’s annual Blue Book Collection – the centrepiece of its annual design calendar – the spotlight in 2021 has been firmly focused on vibrant, vivid gemstones in every colour of the rainbow. Read More
The popularity of coloured gemstones continues to offer jewellers a spectrum of possibilities and new innovations in supply chain transparency are making the sector more desirable. There is no denying the appeal of coloured gemstones. From the high jewellery of Paris Couture Fashion Week to Tiffany & Co.’s annual Blue Book Collection – the centrepiece of its annual design calendar – the spotlight in 2021 has been firmly focused on vibrant, vivid gemstones in every colour of the rainbow. Read More
Big name jewelers sign up to gemstone traceability - A host of top-flight jewelers have signed a pledge to improve the traceability of colored gemstones. The Gemstones and Jewellery Community Platform has been launched by industry body Coloured Gemstones Working Group (CGWG) to unite brands. It will provide practical help and guidance on responsible sourcing, which can be difficult because many colored gemstones are mined in remote areas by artisanal workers. Read More
Largest diamond cut in Russia could fetch $20m -
The largest diamond ever cut in Russia is expected to fetch up to $20m at auction. The 100.94 carat emerald cut diamond, called the Alrosa Spectacle, has been graded by GIA as Type IIa, D color, IF. It was cut from a 207.29-carat rough stone unearthed in 2016 at the Zarnitsa kimberlite pipe in the Sakha Republic (Yakutia) - Russia's first ever diamond mine. The Diamonds of Alrosa factory, Moscow, spent a year and eight months preparing and cutting the stone. Read More
The largest diamond ever cut in Russia is expected to fetch up to $20m at auction. The 100.94 carat emerald cut diamond, called the Alrosa Spectacle, has been graded by GIA as Type IIa, D color, IF. It was cut from a 207.29-carat rough stone unearthed in 2016 at the Zarnitsa kimberlite pipe in the Sakha Republic (Yakutia) - Russia's first ever diamond mine. The Diamonds of Alrosa factory, Moscow, spent a year and eight months preparing and cutting the stone. Read More
Jewellery sales rise more than 250 per cent -
The latest jewellery sales report compiled by Retail Edge Consultants revealed that sales in dollars for April 2021 increased 252 per cent compared with the same time last year and 40 per cent when compared with 2019. Michael Dyer, sales manager at Retail Edge, said the figures were "heartening". He attributed the results partially to the "redirection of where money is being spent".
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The latest jewellery sales report compiled by Retail Edge Consultants revealed that sales in dollars for April 2021 increased 252 per cent compared with the same time last year and 40 per cent when compared with 2019. Michael Dyer, sales manager at Retail Edge, said the figures were "heartening". He attributed the results partially to the "redirection of where money is being spent".
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Let's talk jewelry store design: 5 quick waiting area ideas - My clients always ask me during the initial consultation: “What is the importance of the waiting area for my jewelry store?" My advice is that creating this space needs to make the customer feel relaxed, comfortable, and warm. By creating a proper waiting area, it allows customers and their significant others to experience a stress-free and enjoyable environment. Here are five quick ideas to think about prior to developing or remodeling your waiting area:
- Pay close attention to the traffic flow for optimizing its location.
- Choose comfortable furniture along with upholstery and finishes
that coordinate with the entire store.
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- Pay close attention to the traffic flow for optimizing its location.
- Choose comfortable furniture along with upholstery and finishes
that coordinate with the entire store.
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Hermes is proof that Gen Z is turbocharging the luxury recovery - The biggest and most successful luxury brands are feeling good. Hermès just posted their Q1 results, which defied expectations with revenue growth of 33 percent compared to the first quarter of 2019 — the period a year before the pandemic forced many countries into lockdown. The brand even eclipsed LVMH’s growth of eight percent and Kering’s of 5.5 percent, both home to major brands like Louis Vuitton and Gucci, respectively. Read More
New funding to help jewelers study sustainability -
The Women’s Jewelry Association (WJA) Foundation has launched a fund enabling members to gain an education in issues related to responsible sourcing. “Now is the time to develop sustainability champions at every level of our industry to help create positive impacts on people, to protect the planet, and to move our businesses and industry forward,” said Brandee Dallow, WJA Foundation president.
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The Women’s Jewelry Association (WJA) Foundation has launched a fund enabling members to gain an education in issues related to responsible sourcing. “Now is the time to develop sustainability champions at every level of our industry to help create positive impacts on people, to protect the planet, and to move our businesses and industry forward,” said Brandee Dallow, WJA Foundation president.
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Responsible Jewellery Council launches SDG taskforce -
Responsible Jewellery Council (RJC), the leading standard-setting organisation for the jewellery and watch supply chain, announced the launch of an SDG Taskforce. The UN SDGs are a call to action for all countries, organisations and people to come together in partnership to achieve a more sustainable and fairer future for all. The SDG Taskforce includes 26 leaders of the global jewellery industry together with the representatives of NGOs, other trade organisations and academia who will convene on a regular basis to drive change and track progress throughout the supply chain – from mining to retail. Read More
Responsible Jewellery Council (RJC), the leading standard-setting organisation for the jewellery and watch supply chain, announced the launch of an SDG Taskforce. The UN SDGs are a call to action for all countries, organisations and people to come together in partnership to achieve a more sustainable and fairer future for all. The SDG Taskforce includes 26 leaders of the global jewellery industry together with the representatives of NGOs, other trade organisations and academia who will convene on a regular basis to drive change and track progress throughout the supply chain – from mining to retail. Read More
5 insights on how luxury brands can win over singles in China - Single-person households were the fastest-growing household type globally between 2010 and 2019, and this growth was most pronounced in the Asia Pacific, where nearly one in every five Chinese households is classified as single-person. The average consumer expenditure in single Chinese households will increase threefold between 2019 and 2040.
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Indian jeweler wins praise for transgender ad -
A ground-breaking jewelry ad that follows a young Indian boy as he transitions to a woman, with his family's support, has been widely praised. Milestones in her journey are accompanied by gifts of jewelry from the anklets and earrings she receives as a child to a joyous wedding ceremony. The one minute 40 second video, entitled Pure as Love, is a marked departure from traditional heterosexual wedding narratives. Read More
A ground-breaking jewelry ad that follows a young Indian boy as he transitions to a woman, with his family's support, has been widely praised. Milestones in her journey are accompanied by gifts of jewelry from the anklets and earrings she receives as a child to a joyous wedding ceremony. The one minute 40 second video, entitled Pure as Love, is a marked departure from traditional heterosexual wedding narratives. Read More
Can 40 years of Michael Kors still woo China? -
A stalwart of American fashion, Michael Kors launched his Fall 2021 Collection today digitally. Celebrating its 40th anniversary, the brand pulled out all the stops for a glitzy collection that was shot in New York’s Theater District. A lifelong theater lover, Kors used the opportunity to highlight the difficulties faced by the performing arts and entertainment professionals at this time.
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A stalwart of American fashion, Michael Kors launched his Fall 2021 Collection today digitally. Celebrating its 40th anniversary, the brand pulled out all the stops for a glitzy collection that was shot in New York’s Theater District. A lifelong theater lover, Kors used the opportunity to highlight the difficulties faced by the performing arts and entertainment professionals at this time.
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China's economy bounced back - or did it? -
The Chinese economy bounced back strongly, growing 18.3 percent in the first quarter of the year, according to China’s National Bureau of Statistics. Retail sales grew 34.2 percent in March, topping expectations of 28-percent growth, despite harsh weather. Industrial production increased by a staggering 14.1 percent in March compared to 1.4. percent in the US.
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The Chinese economy bounced back strongly, growing 18.3 percent in the first quarter of the year, according to China’s National Bureau of Statistics. Retail sales grew 34.2 percent in March, topping expectations of 28-percent growth, despite harsh weather. Industrial production increased by a staggering 14.1 percent in March compared to 1.4. percent in the US.
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Struggling to stay open? -
How do you make a difficult decision, like staying in business or closing shop? How do you wrangle with a tough decidion? Experts share their insights on facing a tough business decision. This isn’t pleasant to admit, but at times I’ve thought “That’s it, I’m done. I can’t keep my business going anymore.” Each time, I opted for a swan song and created a few last pieces of jewelry. I made pieces that were as fabulous as I could afford, purely because they made me happy. And each time, a surprise ensued: the pieces sold, my clients’ feedback put a spring in my step, and the doors stayed open.
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How do you make a difficult decision, like staying in business or closing shop? How do you wrangle with a tough decidion? Experts share their insights on facing a tough business decision. This isn’t pleasant to admit, but at times I’ve thought “That’s it, I’m done. I can’t keep my business going anymore.” Each time, I opted for a swan song and created a few last pieces of jewelry. I made pieces that were as fabulous as I could afford, purely because they made me happy. And each time, a surprise ensued: the pieces sold, my clients’ feedback put a spring in my step, and the doors stayed open.
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Kate Middleton wears the queen's pearl necklace... -
The Duchess of Cambridge paid a subtle tribute to the queen today while attending the funeral of the monarch's husband, Prince Philip. Kate Middleton wore pieces of the queen's jewelry with her solemn, all-black attire: dangling pearl earrings and a four-row pearl choker that was also once worn by her late mother-in-law, Princess Diana. The necklace stood out against the duchess's dark Roland Mouret dress. Featuring four strands of pearls and a diamond clasp, the piece was reportedly a gift to the queen from the Japanese government and made by Garrard. Duchess Kate has previously borrowed the choker, wearing it to the queen and Prince Philip's 70th anniversary celebration in 2017. Read More
The Duchess of Cambridge paid a subtle tribute to the queen today while attending the funeral of the monarch's husband, Prince Philip. Kate Middleton wore pieces of the queen's jewelry with her solemn, all-black attire: dangling pearl earrings and a four-row pearl choker that was also once worn by her late mother-in-law, Princess Diana. The necklace stood out against the duchess's dark Roland Mouret dress. Featuring four strands of pearls and a diamond clasp, the piece was reportedly a gift to the queen from the Japanese government and made by Garrard. Duchess Kate has previously borrowed the choker, wearing it to the queen and Prince Philip's 70th anniversary celebration in 2017. Read More
Hannah Carnegie: Unified with nature -
Hannah Carnegie, creates jewelry that is interchangeable, ethically sourced, and inspired by nature. Growing up on an island, she developed a strong bond and appreciation for nature. As an advocate for conservation, Carnegie’s jewelry endows a percentage of sales to nature conservation foundations and initiatives. Hannah shared her story with Pietra Communications: "Growing up on a remote island, or in any remote area, you learn to live closer in harmony with your natural surroundings. The rhythm of your life is generally set to these nuances vs. those, of say , the morning traffic rush that you find in the city. You think more about when the tide is high, or when to not be on the beach at night with a car or a flashlight, which could interrupt a nesting sea turtle. In this sense, I think life is simpler, or allows more freedom and space for the mind and spirit to find unison."
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Hannah Carnegie, creates jewelry that is interchangeable, ethically sourced, and inspired by nature. Growing up on an island, she developed a strong bond and appreciation for nature. As an advocate for conservation, Carnegie’s jewelry endows a percentage of sales to nature conservation foundations and initiatives. Hannah shared her story with Pietra Communications: "Growing up on a remote island, or in any remote area, you learn to live closer in harmony with your natural surroundings. The rhythm of your life is generally set to these nuances vs. those, of say , the morning traffic rush that you find in the city. You think more about when the tide is high, or when to not be on the beach at night with a car or a flashlight, which could interrupt a nesting sea turtle. In this sense, I think life is simpler, or allows more freedom and space for the mind and spirit to find unison."
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Colored diamond trio fetches $8M at Christie's -
Three rings featuring diamonds with fancy-vivid color stole the show at the Christie’s Magnificent Jewels auction, selling for more than $8 million combined. The trio of jewels, called the Perfect Palette, achieved a total of $8.4 million at the New York sale. A 2.17-carat, fancy-vivid-purplish-pink diamond ring brought in $3.5 million, beating its $2.5 million high estimate, while a 2.13-carat, fancy-vivid-blue diamond ring sold for $2.7 million, toward the upper end of its valuation. The third--a 2.34-carat, fancy-vivid-orange diamond ring--went for $2.2 million, just under its top estimate. Read More
Three rings featuring diamonds with fancy-vivid color stole the show at the Christie’s Magnificent Jewels auction, selling for more than $8 million combined. The trio of jewels, called the Perfect Palette, achieved a total of $8.4 million at the New York sale. A 2.17-carat, fancy-vivid-purplish-pink diamond ring brought in $3.5 million, beating its $2.5 million high estimate, while a 2.13-carat, fancy-vivid-blue diamond ring sold for $2.7 million, toward the upper end of its valuation. The third--a 2.34-carat, fancy-vivid-orange diamond ring--went for $2.2 million, just under its top estimate. Read More
Sustainable jewelry and the 'Meghan Markle' effect - Meghan Markle only wears sustainable and ethical jewelry, including an Ecksand 6-ct rose cut pink sapphire set into a 100% recycled rose gold band. Not just any celebrity can turn a niche activist concern into a pop culture affair. It takes the likes of Leonardo DiCaprio who, with the 2006 film Blood Diamond, brought the concept of ‘conflict diamonds’ into the mainstream. The international diamond lobby was so concerned with the blockbuster’s depiction of diamond fields in Sierra Leone, they urged director Edward Zwick to add a disclaimer touting the industry’s progress. Read More
Think sustainability doesn't matter? Think again -
Every luxury brand on Earth is talking about sustainability, touching on it one way or another, regardless of the category. If you go on any luxury website, you will find a sustainability report, corporate social responsibility measures, and a commitment to do better over time.This development is incredibly important, given that just a few years ago, sustainability was not atop of the list of priorities for many companies. Read More
Every luxury brand on Earth is talking about sustainability, touching on it one way or another, regardless of the category. If you go on any luxury website, you will find a sustainability report, corporate social responsibility measures, and a commitment to do better over time.This development is incredibly important, given that just a few years ago, sustainability was not atop of the list of priorities for many companies. Read More
Let's talk jewelry store design -
From Leslie McGwire: "My clients often ask me in the initial consultation: “How important is lighting throughout my store and in my cases, and do I need to put a certain budget aside?” LED light technology is rapidly changing. It is changing how we light our world in a brighter and more economical way. Therefore, proper placement of lighting is essential to keep your consumers highly interested and increase sales in the jewelry store. No matter how carefully you plan your jewelry store displays and merchandise, your hard work could all be lost in window glare and shadows.
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From Leslie McGwire: "My clients often ask me in the initial consultation: “How important is lighting throughout my store and in my cases, and do I need to put a certain budget aside?” LED light technology is rapidly changing. It is changing how we light our world in a brighter and more economical way. Therefore, proper placement of lighting is essential to keep your consumers highly interested and increase sales in the jewelry store. No matter how carefully you plan your jewelry store displays and merchandise, your hard work could all be lost in window glare and shadows.
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Jewellery, Gem & Technology Dubai to debut in 2022 - Get ready for one of the jewellery world’s most powerful marketplaces for product discovery, meaningful connections and inspired thinking – Jewellery, Gem & Technology Dubai. Envisioned as a high-impact jewellery sourcing experience, JGT Dubai will have its inaugural edition on 22 – 24 February 2022 at the Dubai World Trade Centre.
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Signet targets younger market with Rocksbox acquisition - Rocksbox, the pioneering jewelry rental company, has been acquired by Signet, the world's largest retailer of diamond jewelry. Signet says the move should help it reach new customers, primarily young women, following the success of its three-year Path to Brilliance recovery program. Rocksbox, founded by Meaghan Rose, provides subscribers with three rented pieces of fashion jewelry for $21 a month, based on their preferences, with free shipping and the option to buy any item outright. Read More
How China is changing the definition of luxury -
A monumental shift is taking place in luxury because of China. Luxury, which is a culture’s most premium form of expression, has always been associated with opulence and classical styles in the West. But that is beginning to change. China’s economic development has meant that, for many luxury consumers, high-end fashion has only been an option over the past few decades. As such, they don’t have legacy expectations or long-standing brand loyalties. So what do China’s luxury consumers want? Read More
A monumental shift is taking place in luxury because of China. Luxury, which is a culture’s most premium form of expression, has always been associated with opulence and classical styles in the West. But that is beginning to change. China’s economic development has meant that, for many luxury consumers, high-end fashion has only been an option over the past few decades. As such, they don’t have legacy expectations or long-standing brand loyalties. So what do China’s luxury consumers want? Read More
Are fancy color diamonds a good investment vehicle? -
Longtime members of the diamond industry remember the investment boom of the late 1970s and early 1980s. Since then, the idea of diamonds as an investment vehicle has periodically reared its head, but has never taken off. And, say most experts, for good reason. While diamonds do hold their value better than other luxury products—a key selling point for jewelers—there are compelling arguments against using them as an investment vehicle.
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Longtime members of the diamond industry remember the investment boom of the late 1970s and early 1980s. Since then, the idea of diamonds as an investment vehicle has periodically reared its head, but has never taken off. And, say most experts, for good reason. While diamonds do hold their value better than other luxury products—a key selling point for jewelers—there are compelling arguments against using them as an investment vehicle.
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15.81ct pink could could fetch $38m at Christie's -
A purple-pink diamond weighing nearly 16 carats will take center stage at the Christie’s Magnificent Jewels sale in Hong Kong, the largest of its kind ever to be offered at an auction. The 15.81-carat, fancy-vivid-purple-pink, internally flawless, type IIa stone, known as the Sakura Diamond, is set in a ring and bracketed by white diamonds. The piece is expected to sell for $25 million to $38 million when it goes under the hammer on May 23, Christie’s estimated.
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A purple-pink diamond weighing nearly 16 carats will take center stage at the Christie’s Magnificent Jewels sale in Hong Kong, the largest of its kind ever to be offered at an auction. The 15.81-carat, fancy-vivid-purple-pink, internally flawless, type IIa stone, known as the Sakura Diamond, is set in a ring and bracketed by white diamonds. The piece is expected to sell for $25 million to $38 million when it goes under the hammer on May 23, Christie’s estimated.
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Sotheby's to offer 15.19ct Kashmir sapphire -
Sotheby’s will sell a 55.19-carat Kashmir sapphire at its Geneva sale, the largest gem of its kind ever to appear at auction. The oval-cut stone, set in a brooch with a cushion-shaped Kashmir sapphire weighing 25.97 carats, surrounded by circular-cut and baguette diamonds, is from the 1930s. Previously in the collection of Maureen Constance Guinness, marchioness of Dufferin and Ava, it is expected to fetch up to $3 million at the Magnificent Jewels and Noble Jewels sale on May 11.
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Sotheby’s will sell a 55.19-carat Kashmir sapphire at its Geneva sale, the largest gem of its kind ever to appear at auction. The oval-cut stone, set in a brooch with a cushion-shaped Kashmir sapphire weighing 25.97 carats, surrounded by circular-cut and baguette diamonds, is from the 1930s. Previously in the collection of Maureen Constance Guinness, marchioness of Dufferin and Ava, it is expected to fetch up to $3 million at the Magnificent Jewels and Noble Jewels sale on May 11.
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How luxury took over memes - Even the most affluent luxury consumer might question spending $3,400 on an inflatable vest, yet that item was the most memorable and accessible piece from Louis Vuitton’s Spring/Summer 2021 collection. First spotted on a street-style account on Chinese short-video platform Kuaishou, DIY versions of the futuristic vest soon spread across social media, with users sharing their takes on the latest viral instance of luxury fashion turning into a meme. Read More
HRD Antwerp launches report for polki jewelry -
HRD Antwerp has unveiled a report identifying the natural origin of uncut diamonds used to create polki jewelry. The Authenticity Jewellery Report will verify traditional Indian polki jewelry, which has become more popular in international markets, the Antwerp lab said. HRD already has a report that covers polished diamonds, but polki jewelry contains mounted, uncut stones, which are not generally graded using the regular 4Cs.
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HRD Antwerp has unveiled a report identifying the natural origin of uncut diamonds used to create polki jewelry. The Authenticity Jewellery Report will verify traditional Indian polki jewelry, which has become more popular in international markets, the Antwerp lab said. HRD already has a report that covers polished diamonds, but polki jewelry contains mounted, uncut stones, which are not generally graded using the regular 4Cs.
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Turning the economy we have into the just and inclusive economy we want -
As COVID-19 spread across the United States last year, meatpackers, farmworkers, grocery clerks and warehouse employees were among the hardest hit. Many were pressured to stay on the job, if not by their employers or the government, then by the need for a paycheck. The pandemic forced us all to confront the disparities between the haves and the have-nots.
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As COVID-19 spread across the United States last year, meatpackers, farmworkers, grocery clerks and warehouse employees were among the hardest hit. Many were pressured to stay on the job, if not by their employers or the government, then by the need for a paycheck. The pandemic forced us all to confront the disparities between the haves and the have-nots.
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Christie's online jewelry auction sells out -
Christie’s garnered $799,125 from its online sale of jewelry by designer Michele della Valle, with 100% of items finding buyers. The top lot at the auction was a pair of yellow sapphire, tsavorite garnet and diamond lemon earrings, which went for $75,000, smashing its $10,000 high estimate. Another set of earrings — containing 52 round and 12 baguette-cut diamonds weighing a total of 1.55 carats, tsavorite garnets, and red agate beads — also soared past its upper valuation. The pair, designed to look like cherries, brought in $37,500. Read More
Christie’s garnered $799,125 from its online sale of jewelry by designer Michele della Valle, with 100% of items finding buyers. The top lot at the auction was a pair of yellow sapphire, tsavorite garnet and diamond lemon earrings, which went for $75,000, smashing its $10,000 high estimate. Another set of earrings — containing 52 round and 12 baguette-cut diamonds weighing a total of 1.55 carats, tsavorite garnets, and red agate beads — also soared past its upper valuation. The pair, designed to look like cherries, brought in $37,500. Read More
Asian shoppers snap up gold bangles to bars -
Gold price’s slump to near a nine-month low is drawing jewelry shoppers in Asia to hunt for bargains. After a year of demand being in the doldrums, retailers are buying more of the precious metal to cater to people like Seema B, a 35-year-old housewife who ventured to Mumbai’s Zaveri Bazaar to get new bangles after months of putting it off. “The prices have come down a bit and the general worries about the virus have also eased,” she said.
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Gold price’s slump to near a nine-month low is drawing jewelry shoppers in Asia to hunt for bargains. After a year of demand being in the doldrums, retailers are buying more of the precious metal to cater to people like Seema B, a 35-year-old housewife who ventured to Mumbai’s Zaveri Bazaar to get new bangles after months of putting it off. “The prices have come down a bit and the general worries about the virus have also eased,” she said.
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'Jewelry Masterpiece Awards' to present $100K to jewelry designers and journalists - Entries are now being accepted for the inaugural Jewellery Masterpiece Awards, which honors excellence and artistry in the jewelry world. Jewelry companies, artists, designers and writers are all invited to participate in the one-of-a-kind awards program. The Jewelry Masterpiece Awards is one of the few truly international awards programs and most likely the only one offering significant cash prizes.
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The future of jewelry is bright: How COVID-19 is changing the face of jewelry manufacturing for
good -
With the spread of the coronavirus, came a whirlwind of unanticipated implications for small and independent businesses. Along with the economic disruption, safety protocols designed to thwart the spread of the virus led to furloughs, mandatory business shutdowns, social distancing and quarantine protocols, border closings and travel restrictions. Like other industries, small and independent jewelry designers are feeling the disruption caused by the pandemic – especially with businesses shifting to online selling. While the transition to direct-to-consumer selling is new territory for many, it’s heartwarming to see the industry come together in a show of unity and solidarity amid these unprecedented times.
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good -
With the spread of the coronavirus, came a whirlwind of unanticipated implications for small and independent businesses. Along with the economic disruption, safety protocols designed to thwart the spread of the virus led to furloughs, mandatory business shutdowns, social distancing and quarantine protocols, border closings and travel restrictions. Like other industries, small and independent jewelry designers are feeling the disruption caused by the pandemic – especially with businesses shifting to online selling. While the transition to direct-to-consumer selling is new territory for many, it’s heartwarming to see the industry come together in a show of unity and solidarity amid these unprecedented times.
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Meet the brand that made $3mil in digital sneakers - From flying cars to AI robots, sci-fi novels have grappled with what the future might look like for decades. And as outrageous as those predictions seemed, they are all coming true to some degree. COVID-19’s ability to upend trends over the last year has helped accelerate more supposed impossibilities. But few could have predicted the recent, dramatic rise of NFTs — otherwise known as non-fungible tokens. Read More
Mastoloni honored with two awards -
Mastoloni has received two awards in the 11th annual Cultured Pearl Association of America's international design competition. Mastoloni was one of 11 winners across eight categories in the United States division, which drew 66 submissions. Final judges were Jean Francois Bibet, workshop and production director at Cartier; and Patricia Faber, co-owner of Aaron Faber Gallery in Manhattan, who inspected 19 live U.S. division finalist pieces via Zoom. The Fashion Category award, evocative of high fashion and a creative mix of materials, went to Mastoloni’s Eclisse cocktail ring featuring a rich, black 12–12.5 mm Tahitian Pearl in 18k rose gold. Retail, $6,050.
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Mastoloni has received two awards in the 11th annual Cultured Pearl Association of America's international design competition. Mastoloni was one of 11 winners across eight categories in the United States division, which drew 66 submissions. Final judges were Jean Francois Bibet, workshop and production director at Cartier; and Patricia Faber, co-owner of Aaron Faber Gallery in Manhattan, who inspected 19 live U.S. division finalist pieces via Zoom. The Fashion Category award, evocative of high fashion and a creative mix of materials, went to Mastoloni’s Eclisse cocktail ring featuring a rich, black 12–12.5 mm Tahitian Pearl in 18k rose gold. Retail, $6,050.
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Gay-friendly jeweler ditches the word "bridal" -
A Hatton Garden jeweler has ditched the term "bridal" from all its literature. It also says it no longer uses the word "her" when referring to ring sizes. Queensmith Master Jewellers, in the heart of London's traditional diamond area, describes itself as "Gay-Friendly" on its website. "We moved away from the term 'bridal' and made a conscious decision not to write gender specific copy in our branding and advertising," said brand director Sam Nobles. "Whether you identify as gay, lesbian, transgender, straight or anywhere in between, we create a welcoming experience for all couples looking for beautifully handcrafted engagement rings and all fine jewelry." Read More
A Hatton Garden jeweler has ditched the term "bridal" from all its literature. It also says it no longer uses the word "her" when referring to ring sizes. Queensmith Master Jewellers, in the heart of London's traditional diamond area, describes itself as "Gay-Friendly" on its website. "We moved away from the term 'bridal' and made a conscious decision not to write gender specific copy in our branding and advertising," said brand director Sam Nobles. "Whether you identify as gay, lesbian, transgender, straight or anywhere in between, we create a welcoming experience for all couples looking for beautifully handcrafted engagement rings and all fine jewelry." Read More
The Beyonce Knowles-Carter x Lorraine Schwartz GIA scholarship -
Renowned jewelry designer Lorraine Schwartz has teamed up with GIA to create a scholarship dedicated to her long-time friend and client - the multi-talented performer, record producer and philanthropist, Beyonce Knowles-Carter. The Beyonce Knowles-Carter x Lorraine Schwartz GIA Scholarship will award two members of the Black community the opportunity to earn the esteemed GIA Graduate Gemologist diploma. The recipients of the scholarship will be selected by Beyonce herself and will be awarded the full tuition and paid expenses for the duration of the program, which will be studied primarily online through distance education. Applications for the scholaship will be accepted March 1st through March 16, 2021.
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Renowned jewelry designer Lorraine Schwartz has teamed up with GIA to create a scholarship dedicated to her long-time friend and client - the multi-talented performer, record producer and philanthropist, Beyonce Knowles-Carter. The Beyonce Knowles-Carter x Lorraine Schwartz GIA Scholarship will award two members of the Black community the opportunity to earn the esteemed GIA Graduate Gemologist diploma. The recipients of the scholarship will be selected by Beyonce herself and will be awarded the full tuition and paid expenses for the duration of the program, which will be studied primarily online through distance education. Applications for the scholaship will be accepted March 1st through March 16, 2021.
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Retail hacks luxury stores must know for 2021 -
Since 2020 began, most brick-and-mortar stores have spent more time closed than open. Now, China is set to hit a milestone as the first country in history to carry out most of its retail sales online instead of through physical retail stores. So now, the question retailers need to ask is: What is the point of a store post-pandemic? Retail is now considered a journey, whether metaphysical or geographical. Read More
Since 2020 began, most brick-and-mortar stores have spent more time closed than open. Now, China is set to hit a milestone as the first country in history to carry out most of its retail sales online instead of through physical retail stores. So now, the question retailers need to ask is: What is the point of a store post-pandemic? Retail is now considered a journey, whether metaphysical or geographical. Read More
De Beers posts first loss since 2009 -
De Beers recorded its first annual loss since the aftermath of the global financial crisis as rough sales and prices slumped during the Covid-19 pandemic. The miner’s loss came to $102 million in 2020, compared with a profit of $45 million in 2019. De Beers had not been in the red since 2009. “The onset of the Covid-19 pandemic had an impact on global diamond supply and demand,” the group explained. “Much of the industry was unable to operate, with up to 90% of jewelry stores closed at the peak of lockdowns, first in China, then in Europe and the US.” Read More
De Beers recorded its first annual loss since the aftermath of the global financial crisis as rough sales and prices slumped during the Covid-19 pandemic. The miner’s loss came to $102 million in 2020, compared with a profit of $45 million in 2019. De Beers had not been in the red since 2009. “The onset of the Covid-19 pandemic had an impact on global diamond supply and demand,” the group explained. “Much of the industry was unable to operate, with up to 90% of jewelry stores closed at the peak of lockdowns, first in China, then in Europe and the US.” Read More
US polished imports down almost 40% in 2020 -
US polished-diamond imports fell 39% to $11.82 billion last year, reflecting heavy declines in the second quarter, according to data from the US Commerce Department. The slowdown eased in the latter part of the year, with December shipments slipping by just 2% year on year.
December 2020 Year-on-year change
Net polished imports $212M -10%
Net rough imports -$1M2019: Surplus of $12M
Net diamond account $211M -15%
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US polished-diamond imports fell 39% to $11.82 billion last year, reflecting heavy declines in the second quarter, according to data from the US Commerce Department. The slowdown eased in the latter part of the year, with December shipments slipping by just 2% year on year.
December 2020 Year-on-year change
Net polished imports $212M -10%
Net rough imports -$1M2019: Surplus of $12M
Net diamond account $211M -15%
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New Miami jewelry mall receives $24m boost -
The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project. The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building’s retail and wholesale space, which spans the basement, ground, mezzanine and second floors, Time Century Holdings said.
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The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project. The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building’s retail and wholesale space, which spans the basement, ground, mezzanine and second floors, Time Century Holdings said.
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Harry Winston unveils the 'Winston Pink Legacy' - To bring attention to Harry Winston’s 125th birthday, the luxury jewelry house that bears his name unveiled the “Winston Pink Legacy” ring. The ring features an extremely rare 18.96-carat rectangular-cut fancy vivid pink diamond center stone. The pink diamond is flanked by two shield-cut diamonds weighing 3.55 carats. The stones are set in 18k rose gold and platinum. The Swatch Group, which acquired the New York-based high jewelry house in 2013, purchased the fancy vivid pink diamond at Christie’s Geneva Magnificent Jewels in 2018 for more than $50.3 million, setting a world record at the time.
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CIBJO releases pearl guide as consumer resource - CIBJO'S Pearl Commission has released the first edition of the CIBJO Guide for Classifying Natural Pearls and Cultured Pearls. The 62-page illustrated document provides an overarching view of natural and cultured pearls from both seawater and freshwater sources and highlights the important parameters by which their appearance can be described and assessed.
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Sapphire comes out top in gemstone survey -
Sapphires are the most desired colored gemstone among US consumers, followed by rubies, emeralds and amethysts, according to a recent survey by MVI Marketing. Some 46% bought fine jewelry featuring sapphire in the past two years, the study found. Ruby and emerald each attracted 41%, with 35% buying amethyst. Overall, 93% said they “loved” or “liked” all precious colored gemstones. MVI carried out the survey in the fall of 2020 in conjunction with gemstone miner Fura Gems. Read More
Sapphires are the most desired colored gemstone among US consumers, followed by rubies, emeralds and amethysts, according to a recent survey by MVI Marketing. Some 46% bought fine jewelry featuring sapphire in the past two years, the study found. Ruby and emerald each attracted 41%, with 35% buying amethyst. Overall, 93% said they “loved” or “liked” all precious colored gemstones. MVI carried out the survey in the fall of 2020 in conjunction with gemstone miner Fura Gems. Read More
Fancy yellow diamond ring fetches $325,000 -
A 23.58-ct fancy yellow diamond, set in a platinum and gold ring fetched $325,000 in an online auction by Christie's New York. The price was above the high estimate of $300,000 in the Christie's Jewels Online that closed yesterday and achieved a total of $2,703,750. The top lot featured a cut-cornered rectangular modified brilliant-cut diamond natural color yellow diamond, of SI1 clarity, with a pair of triangular-cut white diamonds with a combined weight of 2.50 to 2.75 carats. Read More
A 23.58-ct fancy yellow diamond, set in a platinum and gold ring fetched $325,000 in an online auction by Christie's New York. The price was above the high estimate of $300,000 in the Christie's Jewels Online that closed yesterday and achieved a total of $2,703,750. The top lot featured a cut-cornered rectangular modified brilliant-cut diamond natural color yellow diamond, of SI1 clarity, with a pair of triangular-cut white diamonds with a combined weight of 2.50 to 2.75 carats. Read More
Van Cleef & Arpels high jewellery collection is worth the wait - Like a rare comet sighting, the Van Cleef & Arpels 'Sous les Étoiles, heavenly dreams' high jewellery is worth the wait. The 150 one-of-a-kind jewels are inspired by the mystery of the cosmos that has transfixed astronomers and awed stargazers throughout history. In their approach, the designers at Van Cleef & Arpels looked at different interpretations of the night sky. The team was inspired by texts are diverse as classical Greek writings, to the early C17th work of Johannes Kepler ‘Lunar Astronomy’ and Camille Flammarion’s 1880 Astronomie Populaire with its quaint views on the cosmos to the mind-blowing images captured by NASA.
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Illuminators: conversation with Stuart Pool -
Stuart Pool runs gem trading company Nineteen48, named after Sri Lanka’s year of independence, with business partner Gary Seneviratne. He’s also a co-founder of Fair Luxury and a partner in the Moyo Gems collaboration in Tanzania. Fair Luxury is a UK-based independent collective of jewelry industry changemakers with a shared vision for a responsible and sustainable future for people and planet. From the interview: "When we started Nineteen48, we were naïvely amazed at how little people knew about gemstone sourcing, and we quickly became aware that we greatly cared to know exactly where our gems were coming from and how they were being mined."
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Stuart Pool runs gem trading company Nineteen48, named after Sri Lanka’s year of independence, with business partner Gary Seneviratne. He’s also a co-founder of Fair Luxury and a partner in the Moyo Gems collaboration in Tanzania. Fair Luxury is a UK-based independent collective of jewelry industry changemakers with a shared vision for a responsible and sustainable future for people and planet. From the interview: "When we started Nineteen48, we were naïvely amazed at how little people knew about gemstone sourcing, and we quickly became aware that we greatly cared to know exactly where our gems were coming from and how they were being mined."
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Rapper has $24m pink diamond embedded in his forehead - An American rapper is to have a huge natural pink diamond, valued at $24m, embedded in his forehead. Lil Uzi Vert, 26, told fans he'd been paying for the gem - which he describes as "10 almost 11 carats" since 2017. It cost more than his Bugatti, other cars and house, he said. Vert - real name Symere Bysil Woods, from Philadelphia - explained why he hadn't chosen a more traditional setting for the diamond: "If I lose the ring, you will make fun of me more than putting it in my forehead, ha ha joke's on you." Read More
New magazine: Mission: Sales online now -
It has been a labor of love and today a new magazine for the jewelry industry with a total focus on sales has been born! MISSION: SALES Magazine, published by The Centurion, is geared to salespeople, managers and management of all jewelry industry companies driven to grow sales.
It has been a labor of love and today a new magazine for the jewelry industry with a total focus on sales has been born! MISSION: SALES Magazine, published by The Centurion, is geared to salespeople, managers and management of all jewelry industry companies driven to grow sales.
- Fascinating intro Editorial by our industry's own famed sales writer Peter Smith on the need for a Learning Mindset
- BIG PICTURE Feature Articles on Establishing Trust, Trendspotting for Better Sales and Engagement Ring Research Read More
Record recoveries at USA's only active diamond mine - Visitors to the USA's only active diamond mine recovered over 80 carats last year.
The Crater of Diamonds State Park, near Murfreesboro, in Arkansas, charges day trippers $10 a day to sift the soil - and lets them keep any gems they find.
It says 2020 was a record-breaking year, despite an enforced closure from March to May because of the coronavirus.
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The Crater of Diamonds State Park, near Murfreesboro, in Arkansas, charges day trippers $10 a day to sift the soil - and lets them keep any gems they find.
It says 2020 was a record-breaking year, despite an enforced closure from March to May because of the coronavirus.
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Lucara finds second large diamond this year - Lucara Diamond Corp. has unearthed a white diamond weighing 378 carats at its Karowe mine in Botswana, the second over 300 carats the deposit has produced since the start of the year. The miner recovered the “magnificent,” gem-quality, unbroken, type IIa stone from the site’s south lobe M/PK(S) area, known for its large, high-quality rough. Earlier, Lucara retrieved a 341-carat, high-quality diamond at the site. Including this newest find, the company has unearthed 55 diamonds over 200 carats since 2015. Read More
LMVH unveils high-end hopes for Tiffany -
Tiffany is poised to expand its offering to include more gold, precious gems and watches, after LVMH's $15.8bn buyout was finally completed earlier this month. The French luxury conglomerate also has its sights set on revamping many of its 320 US stores and expanding its operations in Europe and Asia. The new owners outlining their vision to 14,000 Tiffany employees, said the emphasis would shift further towards high-end jewelry.
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Tiffany is poised to expand its offering to include more gold, precious gems and watches, after LVMH's $15.8bn buyout was finally completed earlier this month. The French luxury conglomerate also has its sights set on revamping many of its 320 US stores and expanding its operations in Europe and Asia. The new owners outlining their vision to 14,000 Tiffany employees, said the emphasis would shift further towards high-end jewelry.
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HourUniverse, successor to BaselWorld is postponed - The show that was due to replace the ill-fated Baselworld has been postponed because of the coronavirus pandemic. HourUniverse had been scheduled for 8 to 12 April In Basel, Switzerland, but a notice on the organizers' website simply says: "Due to the prevailing COVID-19 pandemic, we are assessing new dates to hold a live HourUniverse show in Basel in 2021."
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NY clam chowder with a side of pearl -
Recently, GIA’s laboratory in New York had the opportunity to examine a fascinating find and hear about an even more fascinating story. According to Bryan Gosman, co-owner of Gosman’s Fish Market in Long Island, one of his staff was shucking clams in the kitchen while preparing to cook New England chowder when he discovered a pearl the size of a gumball. “It didn’t look real,” said Gosman.
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Recently, GIA’s laboratory in New York had the opportunity to examine a fascinating find and hear about an even more fascinating story. According to Bryan Gosman, co-owner of Gosman’s Fish Market in Long Island, one of his staff was shucking clams in the kitchen while preparing to cook New England chowder when he discovered a pearl the size of a gumball. “It didn’t look real,” said Gosman.
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The engagement ring trends set to take over in 2021 - The knock-on effects of weddings and engagement parties cancelled due to the pandemic are myriad: from distraught brides and grooms putting their dream outfits into storage to florists going out of business, 2020 has hit the wedding industry hard.
But if there’s one silver lining in the clouds of the ongoing storm as we sail into 2021, it’s engagement rings. Surprisingly, for many jewellers, engagement rings have been much in demand as a symbol of hope and romance since the first lockdown in March, and continue to be so.
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But if there’s one silver lining in the clouds of the ongoing storm as we sail into 2021, it’s engagement rings. Surprisingly, for many jewellers, engagement rings have been much in demand as a symbol of hope and romance since the first lockdown in March, and continue to be so.
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Jewelry industry fares well overall on racial justice - Members of the US jewelry industry are happy overall with the level of racial justice and equality found across the trade, according to a diversity survey Jewelers of America and National Jeweler conducted. Nearly three quarters of employers polled in the jewelry sector, and more than half of employees, reported their companies ranked very well. In fact, 73% of employers said the trade ranked as well as, or better than, other industries in supporting Black employees, while 66% of employees said the same. Read More
Piece of the week: Ilaria Lanzoni's 'Look of Love' - During lockdown last year, Ilaria Lanzoni did what so many of us spent our days doing—she reminisced about happier times. She turned those reveries into inspiration for a new collection centered on the meaning of true love. The Italian-born, NY-based designer recalled the nickname her grandmother used for her and her sister: “voglus,” which means “eyes." Read More
Independent jewelers report strong bridal sales - Independent jewelry retailers in the US noted solid sales over the holiday period, as consumers had more disposable income and more couples got engaged. “Sales were fantastic,” said Eva-Michelle Spicer, owner of Spicer Greene Jewelers in Asheville, North Carolina. “In December alone they were up 45% year on year, and last year was our best December ever. We are not only having more sales than usual, but those sales are also higher value than usual.”
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Argyle pinks break record after mine closure - Rio Tinto achieved record value at its 2020 Argyle Pink Diamonds Tender, with bidders raising their offers for the stones following the mine’s closure. There were 62 pink, red, blue and violet stones up for sale, weighing a total 57.23 carats. It allowed participants to view the goods using livestreaming and a virtual portal at locations in Antwerp, Singapore and Perth, Australia, due to travel restrictions associated with the coronavirus pandemic.
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Can other Asian markets besides China boost luxury brands? - In 2019, mainland Chinese consumers accounted for around 40 percent of global luxury sales and the bulk of growth. So the question is: Who are the next Chinese? The answer is more Chinese. The Japanese market looks fully mature, even though there is a “silver consumer lining.” Meanwhile, the South Korean market did well in 2020, but can only do so much. Read More
Harry Winston wins top item at Christie's New York - Christie’s sold a Kashmir sapphire and diamond bracelet to Harry Winston for $6 million on Tuesday, kicking off the December New York Magnificent Jewels season. The piece, which led the auction house’s New York sale, featured a 43.10-carat sapphire surrounded by 67.90 carats of D-color, internally flawless diamonds. The final price fell within the estimate of $5 million to $7 million that Christie’s had given ahead of the sale.
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Kashmir sapphire beats estimate at Bonhams - Bonhams sold a Kashmir sapphire and diamond brooch for $1.1 million at its New York Jewels auction, bringing in more than double its low valuation and surpassing its high estimate. The cushion-shaped mixed-cut, 17.21-carat sapphire, flanked by marquise- and pear-shaped table-cut diamonds, was created in 1910. It led the December 7 sale, which achieved a total of $3.8 million, Bonhams said.
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Why branded jewelry could be the next decade's fastest growing luxury subsegment - In luxury, the future is female, and the jewelry subsegment should see a shift to self-purchasing and impulse purchasing that can more than compensate the slowdown in bridal. A quartet of specialists and a trio of generalists should capture a lot of the attention and market share in the years ahead. Read More
Mine's largest ever pink rough delivers 15.2-ct heart-shaped diamond - The largest gem-quality colored rough diamond ever recovered at Lulo, Angola, has been cut and polished into a 15.2-carat heart shape and two smaller stones. Trading reforms brought in by the country's government last year will allow mine operator Sociedade Mineira Do Lulo to seek higher prices than it would previously achieve at mine gate. The main delivery, a 15.2 carat heart-shaped diamond has been graded by the GIA as fancy intense orangy pink, VVS1, with excellent polish and symmetry. Read More
Gem auction aims to raise awareness of ethics - Columbia Gem House will hold an auction of pieces by 25 designers to raise awareness of human exploitation across the gem and jewelry industry.
The company launched an invitational design challenge among the designers to create jewelry using stones it provided as part of its Ethical in Action initiative. Columbia Gem House, which deals in fair trade and responsibly sourced colored gemstones and jewelry, partnered with Susan Fauman, of Susan Fauman Jewelry, and Sabrina Hoffman, designer and owner of jewelry brand Dally+Toil. Read More
The company launched an invitational design challenge among the designers to create jewelry using stones it provided as part of its Ethical in Action initiative. Columbia Gem House, which deals in fair trade and responsibly sourced colored gemstones and jewelry, partnered with Susan Fauman, of Susan Fauman Jewelry, and Sabrina Hoffman, designer and owner of jewelry brand Dally+Toil. Read More
Christie's sell emerald and diamond necklace for 7m - A necklace with over 117 carats of emeralds and diamonds sold at auction for almost $7m. Edmond Chin, the Singapore-born jewelry designer, created the one-of-a-kind piece for the Geneva-based Maison Boghossian, and it was sold at Christie's Hong Kong - where he started his career working in the jewelry and jadeite department. It sold for $6.99m, a fraction below the estimate of $7.09m to $10.32m (converted from HKD). Read More
De Beers aims for full traceability by 2030 - De Beers has pledged to provide the origin and impact of all its diamonds by 2030 as part of a plethora of sustainability goals it has set out for the coming decade. By 2025, it will “scale” programs that help identify the provenance of De Beers-mined diamonds at retail. By 2030, it will record most of its annual production — by value — on its Tracr blockchain platform, which tracks stones through the supply chain. Read More
How the jewelry industry is mobilizing to stamp out racism -
In the wake of the global social justice movement, black jewelry designers have found themselves thrust front and center as consumers look for ways to show their support. Like other luxury industries, jewelry lacks diversity and while round-ups of black-owned jewelry businesses are a step in the right direction, barriers remain to people of color accessing the industry at all. Budding initiatives on both sides of the Atlantic are aiming to drive change, opening up the industry to more diversity, more creativity and more innovation. New York-based designer Angely Martinez is leading the way in the US, with a new representation organization for BIPOC jewelry designers, the Jewelry Industry Task Force. “Our skill set and contribution remain valid and equitable to our peers and contemporaries.
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In the wake of the global social justice movement, black jewelry designers have found themselves thrust front and center as consumers look for ways to show their support. Like other luxury industries, jewelry lacks diversity and while round-ups of black-owned jewelry businesses are a step in the right direction, barriers remain to people of color accessing the industry at all. Budding initiatives on both sides of the Atlantic are aiming to drive change, opening up the industry to more diversity, more creativity and more innovation. New York-based designer Angely Martinez is leading the way in the US, with a new representation organization for BIPOC jewelry designers, the Jewelry Industry Task Force. “Our skill set and contribution remain valid and equitable to our peers and contemporaries.
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5.43 tonnes of ruby-in-zoisite unearthed in Mundarara, Tanzanaia -
Tanzania has a way of pleasing the gemstone industry with record-breaking finds. A 41-year-old ASM miner, Gabriel Sendeu Laizer, has struck fortune by unearthing a record 5.43 tonnes of ruby-in-zoisite on his 8-hectare, gem-rich mine located in Mundarara village in Longido District, Arusha Region. The gems were unearthed 19 November 2020 and were valued by officials from the Ministry of Mines at US$75,121.
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Tanzania has a way of pleasing the gemstone industry with record-breaking finds. A 41-year-old ASM miner, Gabriel Sendeu Laizer, has struck fortune by unearthing a record 5.43 tonnes of ruby-in-zoisite on his 8-hectare, gem-rich mine located in Mundarara village in Longido District, Arusha Region. The gems were unearthed 19 November 2020 and were valued by officials from the Ministry of Mines at US$75,121.
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Rio Tinto faces threat of legal action - Rio Tinto Ltd said on Tuesday that it would not offer any comment in response to a threat of legal action from the largest minority shareholder in its Mongolian copper project Oyu Tolgoi. Rio Tinto operates what is slated to become the world’s third-largest copper mine which is jointly owned by the Mongolian government and Canada’s Turquoise Hill Resources Ltd, in which Rio owns a 50.8% stake. Read More
Why brand sustainability is critical in China - China Daily states that packaging made up 0.85 percent of China’s total household waste in 2018, so it makes sense that Alibaba’s Cainiao would initiate celebrating November 20 as “National Cardboard Box Recycling Day. ”In 2019, Alibaba transformed its 75,000 delivery outlets into recycling stations. Alibaba customers who participated in the program could scan QR codes via various apps and win bonus “green energy” points. Read More
Colored gemstones new ratings system - Switzerland’s Gübelin Gem Lab has launched a scoring system for colored gemstones based on wine ratings, claiming that the industry lacked a common method of describing quality and uniqueness. The numerical scale takes into account three factors: quality, rarity and salience — referring to the stone’s ability to “stand out from the crowd.” Stones will receive a score out of 100, with only those achieving 75 receiving a formal rating.
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How she's managing: Peggy Jo Donahue -
From JCK Online:
Every Thursday during the pandemic, we’re checking in on members of the jewelry trade in an attempt to glean shareable tips and tricks for doing business—and living as well as possible—during the COVID-19 crisis. Today we hear from veteran jewelry writer (and former JCK editor) Peggy Jo Donahue, who pens communications for Greenland Ruby, Women’s Jewelry Association, and Gem Legacy, among others.
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From JCK Online:
Every Thursday during the pandemic, we’re checking in on members of the jewelry trade in an attempt to glean shareable tips and tricks for doing business—and living as well as possible—during the COVID-19 crisis. Today we hear from veteran jewelry writer (and former JCK editor) Peggy Jo Donahue, who pens communications for Greenland Ruby, Women’s Jewelry Association, and Gem Legacy, among others.
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The $1.5m face mask with 3,608 diamonds - A team of jewelers has completed the world's most expensive fully-functioning face mask, set with 210 carats of black and white diamonds. Yvel, the luxury Israeli brand, was commissioned by an anonymous Los Angeles-based businessman and art collector, who was keen to help keep the production center open during difficult times. The COVID-19 mask is made of 250 grams of pure 18k gold, set with 3,608 natural diamonds and costs $1.5m.
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GemCloud launches 1st curated gemstones marketplace -
GemCloud – the tech company developing products for the colored gemstone industry – has launched - Gemolith - the first curated B2B colored gemstones marketplace from a live stream directly from the source. GemCloud supports the colored gemstone industry by introducing a standardized ecosystem that includes a grading system for colored gemstone and digital tools that connect different players of the industry. Read More
GemCloud – the tech company developing products for the colored gemstone industry – has launched - Gemolith - the first curated B2B colored gemstones marketplace from a live stream directly from the source. GemCloud supports the colored gemstone industry by introducing a standardized ecosystem that includes a grading system for colored gemstone and digital tools that connect different players of the industry. Read More
Greenland Ruby's Hayley Henning on what's coming in 2021 - Even though the pandemic has barely grazed Greenland - the country has had just 17 cases of COVID-19 and no deaths - its most important gemstone miner, Greenland Ruby, was forced to pull back on its expansion plans for 2020 like many other gem and jewelry businesses around the world. One of the company's biggest initiatives for the year, however, continued, more or less on schedule: As of this month, the miner's stock of cut and polished rubies is available online through a virtual showroom known as Ruby Cloud, a proprietary version of inventory management software developed by Bangkok-based GemCloud.
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Muzo Emerald's new designer collaboration is its best yet -
Colombian emerald mine Muzo is renowned for producing some of the world's highest quality gemstones, but its recent designer collaborations have made the fabled mineral source feel fashion-forward and accessible. Launching on Moda Operandi, the new collaboration features an entirely female design roster. Read More
Colombian emerald mine Muzo is renowned for producing some of the world's highest quality gemstones, but its recent designer collaborations have made the fabled mineral source feel fashion-forward and accessible. Launching on Moda Operandi, the new collaboration features an entirely female design roster. Read More
Alibaba sales soar during 11/11 season -
The pandemic didn’t stop Alibaba from recording sales growth this Singles’ Day, with the Chinese e-commerce giant enjoying a sharp rise in activity on its platforms during the week and a half running up to the shopping bonanza. Gross merchandise volume rose 26% to CNY 498.2 billion ($74.1 billion) during an 11-day campaign compared with the same period in 2019. Its digital platforms handled 583,000 orders per second during the peak of activity.
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The pandemic didn’t stop Alibaba from recording sales growth this Singles’ Day, with the Chinese e-commerce giant enjoying a sharp rise in activity on its platforms during the week and a half running up to the shopping bonanza. Gross merchandise volume rose 26% to CNY 498.2 billion ($74.1 billion) during an 11-day campaign compared with the same period in 2019. Its digital platforms handled 583,000 orders per second during the peak of activity.
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COVID-19 could shutter 18,000 stores permanently, UK report shows -
18,000 more retail stores face permanent closure in 2020 as Covid-19 restrictions continue to damage the UK highstreet. According to the Guardian, a report published by the Local Data Company (LDC) has revealed that it predicts nearly 15,000 more outlets will be left empty in 2020. Read More
18,000 more retail stores face permanent closure in 2020 as Covid-19 restrictions continue to damage the UK highstreet. According to the Guardian, a report published by the Local Data Company (LDC) has revealed that it predicts nearly 15,000 more outlets will be left empty in 2020. Read More
Tiffany promises more transparency for diamonds -
Forbes notes that Tiffany 'will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.' As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. The 183-year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin.
(Image courtesy of TIffany.)
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Forbes notes that Tiffany 'will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility.' As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict diamond and sustainability concerns which have long plagued the diamond industry. The 183-year old jeweler will provide a Tiffany Diamond Certificate with the diamond’s region or countries of origin.
(Image courtesy of TIffany.)
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Jeweler loses 40 yr old engagement ring & wedding band during routine inspection -
A diamond is forever. At least that's the hope, especially when it comes to your engagement ring and wedding band from your special day. When you take those rings to a jeweler for repair or inspection, you trust nothing will happen to your rings. However, for Peggy Bell that was not the case after the jeweler lost her rings. "These rings are special rings. 40 years!"
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A diamond is forever. At least that's the hope, especially when it comes to your engagement ring and wedding band from your special day. When you take those rings to a jeweler for repair or inspection, you trust nothing will happen to your rings. However, for Peggy Bell that was not the case after the jeweler lost her rings. "These rings are special rings. 40 years!"
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Natural all-diamond rind is a GIA first -
A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation. The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal. A customer recently submitted the piece to the organization’s New York laboratory. Read More
A ring made entirely of natural diamond has become the first of its type to reach the Gemological Institute of America (GIA) for evaluation. The 13.15-carat, fancy-dark-grey diamond originated from a rough stone weighing around 20 carats, the GIA said in the spring issue of its Gems & Gemology journal. A customer recently submitted the piece to the organization’s New York laboratory. Read More
Brace yourself: It's Ambani vs Amazon now -
Jeff Bezos regards India as a key frontier for Amazon, particularly after failing to break into China. Now he faces a homegrown champion backed by some of his fiercest U.S. rivals. Amazon.com Inc. has begun making forays into everything from grocery delivery and insurance to drugs in India, setting up a monumental clash with Mukesh Ambani’s hard-charging Jio Platforms.
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Jeff Bezos regards India as a key frontier for Amazon, particularly after failing to break into China. Now he faces a homegrown champion backed by some of his fiercest U.S. rivals. Amazon.com Inc. has begun making forays into everything from grocery delivery and insurance to drugs in India, setting up a monumental clash with Mukesh Ambani’s hard-charging Jio Platforms.
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Sotheby"s worldwide chairman exits -
Two senior jewelry executives have recently stepped down from their roles. David Bennett, the company's chief auctioneer and worldwide jewelry chairman, retired earlier this summer following a 42-year career. During his time with the auction house, Bennett was named among the top 10 most powerful people in the art world by Art & Auction magazine. As auctioneeer for Sotheby's, he presided over several record-breaking sales. Read More
Two senior jewelry executives have recently stepped down from their roles. David Bennett, the company's chief auctioneer and worldwide jewelry chairman, retired earlier this summer following a 42-year career. During his time with the auction house, Bennett was named among the top 10 most powerful people in the art world by Art & Auction magazine. As auctioneeer for Sotheby's, he presided over several record-breaking sales. Read More
Something new: $6,000 diamond face masks for bride & groom - Diamond-studded face masks are becoming the latest fashion craze in Covid-hit India. They're popular with wedding couples, who will pay up to $6,000 for a washable N95 mask encrusted with real diamonds. Masks with lab-grown diamonds start at around $800. Lockdown means the number of guests is limited, so there's more money available to add some coronavirus-inspired sparkle, and the novelty factor is a creative way for jewelers to create extra demand in a depressed market. Read More
Updated bible of lab-grown diamonds -
The "bible" of lab-grown diamonds is being republished to update jewelers, traders and consumers. Authors Dusan Simic and Branko Deljanin have revised existing content and added 50 pages since the last edition and aim to present complex technical information in an easy-to-understand format. "This book is unique in our industry. To the best of our knowledge, nobody else has written on these subjects. We are able to present often complicated terminology and technical details in simple terms that jewelers, traders and consumers can easily understand." Read More
The "bible" of lab-grown diamonds is being republished to update jewelers, traders and consumers. Authors Dusan Simic and Branko Deljanin have revised existing content and added 50 pages since the last edition and aim to present complex technical information in an easy-to-understand format. "This book is unique in our industry. To the best of our knowledge, nobody else has written on these subjects. We are able to present often complicated terminology and technical details in simple terms that jewelers, traders and consumers can easily understand." Read More
Call to slash India's import duty on polished diamonds -
India's ailing diamond industry is calling for a huge cut in the duty charged on its polished imports. It's also requesting "direct" rough purchases to reduce costs, rather than being forced to buy through middlemen in Antwerp, and a package of other measures relating to e-commerce and gold monetization. The Gem and Jewellery Export Promotion Council (GJEPC) says the import duty on polished diamonds should be slashed from 7.5 per cent to 2.5 per cent, to kickstart the industry after COVID-19. Read More
India's ailing diamond industry is calling for a huge cut in the duty charged on its polished imports. It's also requesting "direct" rough purchases to reduce costs, rather than being forced to buy through middlemen in Antwerp, and a package of other measures relating to e-commerce and gold monetization. The Gem and Jewellery Export Promotion Council (GJEPC) says the import duty on polished diamonds should be slashed from 7.5 per cent to 2.5 per cent, to kickstart the industry after COVID-19. Read More
Coronavirus updates: impact on the diamond trade -
Timeline of Covid-19 related news affecting the industry: The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. In this Rapaport News article, they present a one-stop, running news feed on industry events impacted by the virus.
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Timeline of Covid-19 related news affecting the industry: The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. In this Rapaport News article, they present a one-stop, running news feed on industry events impacted by the virus.
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Dubai boost for lab-grown diamonds -
Dubai is expanding its lab-grown sector by welcoming Lumex to its diamond hub. Lumex was founded in 2018 by the Mehta family, owners of the Rosy Blue empire, and produces diamonds up to two carats. The Dubai Multi Commodities Centre (DMCC) is keen to grow both its mined and lab-grown sectors, with safeguards to ensure the stones remain separate.
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Dubai is expanding its lab-grown sector by welcoming Lumex to its diamond hub. Lumex was founded in 2018 by the Mehta family, owners of the Rosy Blue empire, and produces diamonds up to two carats. The Dubai Multi Commodities Centre (DMCC) is keen to grow both its mined and lab-grown sectors, with safeguards to ensure the stones remain separate.
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Interview with Mr. Lieou, the man putting cool back into jewels -
Meet Mr. Lieou, the accomplished young designer who left his creative role at Tiffany & Co to concentrate on his own brand. Nicholas Lieou founded his brand Mr Lieou in 2019 and from the word go, it was clear that the designer had already immersed himself in the best the world of jewellery has to offer. Born in Hong Kong, Nicholas’ international education at the German Swiss School spurred him to look further afield to jewellery studies first at Central Saint Martin’s and the Royal College of Art in London and then at the Fashion Institute of Technology and the GIA in New York.
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Meet Mr. Lieou, the accomplished young designer who left his creative role at Tiffany & Co to concentrate on his own brand. Nicholas Lieou founded his brand Mr Lieou in 2019 and from the word go, it was clear that the designer had already immersed himself in the best the world of jewellery has to offer. Born in Hong Kong, Nicholas’ international education at the German Swiss School spurred him to look further afield to jewellery studies first at Central Saint Martin’s and the Royal College of Art in London and then at the Fashion Institute of Technology and the GIA in New York.
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Why now is the best time to invest in luxury -
Daniel Langer of Jing Daily writes: The massive disruption shaking up the luxury sector right now calls for unprecedented action. "I’ve taken a moment to reflect on the lessons luxury brands must take away from the past calendar year, and what they might mean for them in the future."
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Daniel Langer of Jing Daily writes: The massive disruption shaking up the luxury sector right now calls for unprecedented action. "I’ve taken a moment to reflect on the lessons luxury brands must take away from the past calendar year, and what they might mean for them in the future."
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Jewelers see positive signs as business restarts -
As US retailers struggle to pick up the pieces after the coronavirus shutdowns, many are hopeful that a recovery is on its way. Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis the virus has left in its wake.
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As US retailers struggle to pick up the pieces after the coronavirus shutdowns, many are hopeful that a recovery is on its way. Times are hard for luxury in general, and jewelry in particular. In a recent survey by McKinsey & Company, jewelry was one of the luxury products consumers were most willing to forgo post-Covid-19, considering the financial crisis the virus has left in its wake.
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Diamond giant develops low-cost COVID-19 ventilator -
Subsidiaries of the Indian diamond giant Dharmanandan have developed a low-cost ventilator to save the lives of COVID-19 patients. The device costs under $3,500. Dharmanandan, with a $1bn annual turnover, developed the Respiwin device in just five months through its Dharmanandan Research Centre (DRC) Techno and InnovSeed company.
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Subsidiaries of the Indian diamond giant Dharmanandan have developed a low-cost ventilator to save the lives of COVID-19 patients. The device costs under $3,500. Dharmanandan, with a $1bn annual turnover, developed the Respiwin device in just five months through its Dharmanandan Research Centre (DRC) Techno and InnovSeed company.
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Day-trip mom finds 2.23-ct brown diamond -
A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone. Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day. She unearthed the biggest diamond this year and is allowed to keep it under rules of the state-owned park. Read More
A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone. Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day. She unearthed the biggest diamond this year and is allowed to keep it under rules of the state-owned park. Read More
India's economic recovery more likely to be 'U' or 'W' shaped, not 'V': analysts -
India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of COVID-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said. "Before the onset of COVID, Indian economy had slowed down to 4.5 per cent GDP growth, not participating in the global resurgence of 2018 and 2019," Centrum Institutional Research said in a report. Read More
India's economic recovery is more likely to be a 'U' or 'W' shaped rather than 'V' as the impact of COVID-19 will be profound on a nation that was already struggling for growth prior to the pandemic, analysts said. "Before the onset of COVID, Indian economy had slowed down to 4.5 per cent GDP growth, not participating in the global resurgence of 2018 and 2019," Centrum Institutional Research said in a report. Read More
Where do we go from here? -
The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The world is a different place than it was pre-pandemic, and the changes are likely to remain after things return to some version of normalcy, however long that takes.
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The coronavirus pandemic has impacted every part of the diamond supply chain. As markets reopen with the virus still lingering, there is a consensus that a new normal has been established, even as it continues to evolve. The world is a different place than it was pre-pandemic, and the changes are likely to remain after things return to some version of normalcy, however long that takes.
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A look at protective jewelry -
Native American children were given turtle amulets to protect themselves from illness and promote longevity. It is one of four examples of protective jewelry NJ Associate Editor Lenore Fedow explores: For as long as we’ve believed in bad luck and curses, we’ve also believed there were ways to protect ourselves, and those included wearing jewelry. Read More
Native American children were given turtle amulets to protect themselves from illness and promote longevity. It is one of four examples of protective jewelry NJ Associate Editor Lenore Fedow explores: For as long as we’ve believed in bad luck and curses, we’ve also believed there were ways to protect ourselves, and those included wearing jewelry. Read More
RJC marks 15 years strengthening consumer confidence & welcomes new members at 2020 AGM -
The Responsible Jewellery Council (RJC) marked its 15- year milestone strengthening consumer confidence for the global jewellery industry at its virtual Annual General Meeting (AGM) this week. The world’s leading standard setting organisation for the entire jewellery and watch supply chain celebrated its 15-year anniversary by launching a new website, and publishing its Progress Report for May 2020 to coincide with the virtual AGM held on 20 May. Read More
The Responsible Jewellery Council (RJC) marked its 15- year milestone strengthening consumer confidence for the global jewellery industry at its virtual Annual General Meeting (AGM) this week. The world’s leading standard setting organisation for the entire jewellery and watch supply chain celebrated its 15-year anniversary by launching a new website, and publishing its Progress Report for May 2020 to coincide with the virtual AGM held on 20 May. Read More
What does the new security law mean for Hong Kong retail? - China’s largest political event of the year, known as Two Sessions, took place in Beijing after a two-month delay due to the COVID-19 crisis. Beyond measures to deal with the economic destruction left by the virus, the government also introduced a new security law targeting terrorist activity in Hong Kong, which prohibits acts of sedition, subversion, and secession, as well as foreign interference in Hong Kong’s affairs. Read More
Alrosa cuts 2020 production plan -
Alrosa is set for its lowest annual rough-diamond production in at least a decade, after the Russian miner reduced its outlook by up to 6 million carats due to the weak market. The company now expects to produce 28 million to 31 million carats this year, compared with an earlier plan of around 34 million carats. It will achieve this by shutting mines containing lower-priced diamonds that offer thin profit margins, thereby avoiding an inventory buildup in categories for which there is currently weak demand. Read More
Alrosa is set for its lowest annual rough-diamond production in at least a decade, after the Russian miner reduced its outlook by up to 6 million carats due to the weak market. The company now expects to produce 28 million to 31 million carats this year, compared with an earlier plan of around 34 million carats. It will achieve this by shutting mines containing lower-priced diamonds that offer thin profit margins, thereby avoiding an inventory buildup in categories for which there is currently weak demand. Read More
JBT appoints new chairman -
The Jewelers Board of Trade has chosen Ann Arnold, chief strategy officer for Buyers Intelligence Group, to head its board of directors. Arnold, who was appointed at the company’s April board meeting, has volunteered with the JBT for nearly 12 years, and previously served as vice chairman. She will succeed outgoing chair Mike Kaplan. Arnold has also been chairman and treasurer of Manufacturing Jewelers & Suppliers of America, treasurer of the New York 24 Karat Club, and president of the Women’s Jewelry Association. Read More
The Jewelers Board of Trade has chosen Ann Arnold, chief strategy officer for Buyers Intelligence Group, to head its board of directors. Arnold, who was appointed at the company’s April board meeting, has volunteered with the JBT for nearly 12 years, and previously served as vice chairman. She will succeed outgoing chair Mike Kaplan. Arnold has also been chairman and treasurer of Manufacturing Jewelers & Suppliers of America, treasurer of the New York 24 Karat Club, and president of the Women’s Jewelry Association. Read More
Christie's most valuable ever online lot -
Christie's is auctioning its most valuable ever lot online - a spectacular type IIa 28.86-carat diamond with a guide price of up to $2m. The incredibly rare, near-flawless, emerald-cut stone is VVS1 clarity, and the largest D-color stone Christie's has ever offered in an online-only sale. The auctioneers say increased online interest has encouraged them to offer more valuable items in their monthly sales. "Year-over-year, we have seen an increase in online participation and the value threshold for transacting online," said Rahul Kadakia, international head of jewelry. Read More
Christie's is auctioning its most valuable ever lot online - a spectacular type IIa 28.86-carat diamond with a guide price of up to $2m. The incredibly rare, near-flawless, emerald-cut stone is VVS1 clarity, and the largest D-color stone Christie's has ever offered in an online-only sale. The auctioneers say increased online interest has encouraged them to offer more valuable items in their monthly sales. "Year-over-year, we have seen an increase in online participation and the value threshold for transacting online," said Rahul Kadakia, international head of jewelry. Read More
The un-masking of Beatrice Matiash -
From starting out making beads as a young teen, to establishing her own successful jewelry and apparel company, to now making face masks to help out in this time of pandemic crisis, the remarkable journey of Beatrice Matiash has been both innovative and colorful. “I have always loved color and jewelry,” says Beatrice Matiash, founder of Tashka by Beatrice. “As a young teen, I made beads which I sold to a bead store in Soho, New York City. In high school, I created a ‘bead company,’ which won the competition for an economics class project.”
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From starting out making beads as a young teen, to establishing her own successful jewelry and apparel company, to now making face masks to help out in this time of pandemic crisis, the remarkable journey of Beatrice Matiash has been both innovative and colorful. “I have always loved color and jewelry,” says Beatrice Matiash, founder of Tashka by Beatrice. “As a young teen, I made beads which I sold to a bead store in Soho, New York City. In high school, I created a ‘bead company,’ which won the competition for an economics class project.”
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India's cutting sector faces decades-low sales -
India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned. Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated. This compares to approximately $19 billion in the fiscal year that just ended, it added.
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India’s polishing revenues will plummet to their lowest in a decade this year, as prices have dropped and inventory has built up, a credit agency has warned. Diamond sales will decline up to 32%, to $13 billion to $15 billion, in the current fiscal year ending March 31, 2021, India-based Crisil Ratings estimated. This compares to approximately $19 billion in the fiscal year that just ended, it added.
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Gem carving: getting into the groove -
The ancient technique of gem carving is alive and well today, creating valuable jewels that stand out. Like all rare art forms, gemstone carving has a rich history — beginning in ancient China, it came into its own during Mughal rule in South Asia, and its appeal continues today. Every season, the stories of carved gems are chronicled by auction houses, museums, high-jewelry brands and designers.
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The ancient technique of gem carving is alive and well today, creating valuable jewels that stand out. Like all rare art forms, gemstone carving has a rich history — beginning in ancient China, it came into its own during Mughal rule in South Asia, and its appeal continues today. Every season, the stories of carved gems are chronicled by auction houses, museums, high-jewelry brands and designers.
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Alrosa boss sells half his shares to fight coronavirus -
The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus. The sale of Sergey Ivanov’s shares raised RUB18.5m ($240,000) and will help counter the spread of Covid-19 in the Siberian town of Mirny.
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The CEO of Russian mining giant Alrosa has sold half his stake in the company and donated the proceeds to fighting coronavirus. The sale of Sergey Ivanov’s shares raised RUB18.5m ($240,000) and will help counter the spread of Covid-19 in the Siberian town of Mirny.
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HKTDC's Spring Virtual Expo -
The COVID-19 outbreak has impacted business activity across the globe with exhibitions being postponed or even cancelled. Adapting to this new reality, the Hong Kong Trade Development Council is deploying technology and online platforms to connect businesses around the world with a Spring Virtual Expo. Read More
The COVID-19 outbreak has impacted business activity across the globe with exhibitions being postponed or even cancelled. Adapting to this new reality, the Hong Kong Trade Development Council is deploying technology and online platforms to connect businesses around the world with a Spring Virtual Expo. Read More
Don't expect a crisis to be good for gold -
Central banks have a shrinking appetite for the metal. If they turn net sellers, the recent rally could come to a halt. Russia’s central bank, one of the world’s largest gold buyers in recent years, is halting all purchases of the metal. It’s not alone: Uzbekistan and Kazakhstan, whose central banks have also been reliable consumers of late, have also slowed down.
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Central banks have a shrinking appetite for the metal. If they turn net sellers, the recent rally could come to a halt. Russia’s central bank, one of the world’s largest gold buyers in recent years, is halting all purchases of the metal. It’s not alone: Uzbekistan and Kazakhstan, whose central banks have also been reliable consumers of late, have also slowed down.
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Analysis: ASM, responsible sourcing & COVID-19 -
On 7th January officials in China announced that a new virus, COVID-19, had been identified. Since then the world has changed more than we could have dared to imagine. Whilst more developed countries have so far witnessed the fastest spread and highest mortality, an intensification of the crisis in less developed countries appears to be unavoidable. Most countries are therefore putting in place measures to “flatten the curve.” Read More
On 7th January officials in China announced that a new virus, COVID-19, had been identified. Since then the world has changed more than we could have dared to imagine. Whilst more developed countries have so far witnessed the fastest spread and highest mortality, an intensification of the crisis in less developed countries appears to be unavoidable. Most countries are therefore putting in place measures to “flatten the curve.” Read More
Govt. allows mining at Argyle to continue -
Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic. The company has received full approval from the Western Australian state government to continue its production operations prior to the mine’s expected end of life later this year. Operations are also in full swing at Diavik, the Canadian site Rio Tinto owns together with Dominion Diamond Mines.
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Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic. The company has received full approval from the Western Australian state government to continue its production operations prior to the mine’s expected end of life later this year. Operations are also in full swing at Diavik, the Canadian site Rio Tinto owns together with Dominion Diamond Mines.
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Kimberley Process plans to digitize its certificates - The Kimberley Process (KP) is trialing the use of digital certificates for rough-diamond shipments, claiming the method will increase efficiency and reduce fraud. Russia, which is chairing the global certification scheme this year, will test the idea with exports to select countries. Participating nations will identify officials whose electronic signatures will be valid for confirming a KP certificate’s legitimacy. Read More
Sotheby's online sale exceeds expectations - Sotheby’s garnered $739,375 from its Jewels Online sale, beating its high estimate of $671,600 for the auction. “In this unprecedented moment, collectors were determined to compete for beautiful jewels in Wednesday’s sale, which earned our best sell-through rate to date for any online jewelry auction,” Kendall Reed, Sotheby’s head of online jewels, said.
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Pandora bolsters marketing team amid reorganization - Copenhagen, Denmark—Pandora added three new faces to its marketing team as part of its multi-pronged strategic reorganization, announced earlier this month. The reorganization plans included closing its regional offices, bolstering retail skills, strengthening tech and data analytics capabilities and separating old business from newer ventures.
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Interview with Martin Rapaport -
Martin Rapaport (pictured) lowered prices on the March 20 edition of his widely watched price list by an average of 7%, leading some companies to pull their inventory from RapNet, his online listing service. Afterward, following a vote of RapNet members, he agreed to suspend publication of his price list until May 1. In a candid interview from his home in Israel, Rapaport discusses whether the boycott has hurt his business, his view of his list’s role, and if he agrees he has too much power.
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Martin Rapaport (pictured) lowered prices on the March 20 edition of his widely watched price list by an average of 7%, leading some companies to pull their inventory from RapNet, his online listing service. Afterward, following a vote of RapNet members, he agreed to suspend publication of his price list until May 1. In a candid interview from his home in Israel, Rapaport discusses whether the boycott has hurt his business, his view of his list’s role, and if he agrees he has too much power.
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How retailers can stay successful when face-to-face marketing is affected -
As coronavirus spreads, companies are taking preventive measures to try to keep their employees safe. But with these measures, day-to-day business processes – including manufacturing, marketing, and selling – are being put to the test. Read More
As coronavirus spreads, companies are taking preventive measures to try to keep their employees safe. But with these measures, day-to-day business processes – including manufacturing, marketing, and selling – are being put to the test. Read More
Costco sells $600,000 engagement ring -
Someone bought a diamond ring from Costco for $600,000. Richard Galanti, chief financial officer for the company, talked about the purchase in an earnings call last week, explaining that “we recently sold another high-value large-carat diamond for a little over $600,000.” He then added: “If anyone is interested, please give me a call.”
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Someone bought a diamond ring from Costco for $600,000. Richard Galanti, chief financial officer for the company, talked about the purchase in an earnings call last week, explaining that “we recently sold another high-value large-carat diamond for a little over $600,000.” He then added: “If anyone is interested, please give me a call.”
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Jewelers in quarantine: designers send out messages of love and support -
Quarantine is nothing if not personal. For weeks (or maybe months) most of us will be surrounded by little else save our furniture, personal effects and—for those of us who live with family or friends—loved ones. As jewelry designers, like the rest of us, have quarantined themselves to help combat the spread of the coronavirus, many have sent out sweet, supportive, and often wistful letters to their fans, followers, and friends—updating them on their plans, personal lives, and state of their businesses. Click to see messages sent out by jewelry brands and designers. Read More
Quarantine is nothing if not personal. For weeks (or maybe months) most of us will be surrounded by little else save our furniture, personal effects and—for those of us who live with family or friends—loved ones. As jewelry designers, like the rest of us, have quarantined themselves to help combat the spread of the coronavirus, many have sent out sweet, supportive, and often wistful letters to their fans, followers, and friends—updating them on their plans, personal lives, and state of their businesses. Click to see messages sent out by jewelry brands and designers. Read More
Coronavirus: AGS halts all diamond grading -
AGS Laboratories has suspended all diamond grading for a month, because of coronavirus. The facility in Las Vegas, Nevada, has been forced to close in a bid by the state governor to halt the spread of Covid-19. All "non-essential businesses" are included in the closure order, which became effective yesterday and which will remain in place for at least a month. The American Gem Society (AGS) headquarters will still function during normal office hours, staffed remotely. Read More
AGS Laboratories has suspended all diamond grading for a month, because of coronavirus. The facility in Las Vegas, Nevada, has been forced to close in a bid by the state governor to halt the spread of Covid-19. All "non-essential businesses" are included in the closure order, which became effective yesterday and which will remain in place for at least a month. The American Gem Society (AGS) headquarters will still function during normal office hours, staffed remotely. Read More
2020 JCK Las Vegas , Luxury shows will be postponed -
The 2020 edition of JCK Las Vegas, America’s largest jewelry trade show, as well as sister show Luxury, will be postponed until later in the year, according to show organizer Reed Exhibitions and the Reed Jewelry Group. Reed said it was still working out new dates for the show and hopes to have news on that “shortly.” The move was made as a precautionary measure to prevent the spread of the new coronavirus (COVID-19). Reed’s complete statement can be read by following the link to JCK Online:
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The 2020 edition of JCK Las Vegas, America’s largest jewelry trade show, as well as sister show Luxury, will be postponed until later in the year, according to show organizer Reed Exhibitions and the Reed Jewelry Group. Reed said it was still working out new dates for the show and hopes to have news on that “shortly.” The move was made as a precautionary measure to prevent the spread of the new coronavirus (COVID-19). Reed’s complete statement can be read by following the link to JCK Online:
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Italy's coronavirus lock down is set to rock the luxury retail industry - The luxury fashion industry is still seeing the impact of COVID-19. Although Vogue Business reports that more than 80% of shopping malls and supermarkets have reopened in major Chinese cities including Beijing, Shanghai, and Guangzhou, Italy is now bracing for the impact the coronavirus will have on its economy and 60 million inhabitants.
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Coronavirus pummels Chow Tai Fook's sales -
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42% in mainland China in the first two months of the year as stores shut for much of the period. “In response to the measures of local governments [to contain] the spread of [the] COVID-19 virus, the majority of our points of sale in mainland China were temporarily closed since late January 2020, and Hong Kong and Macau from early February,” the jeweler said. “Businesses in both markets were inevitably affected during the period.” Read More
Sales at Chow Tai Fook dropped 60% in Hong Kong and Macau and 42% in mainland China in the first two months of the year as stores shut for much of the period. “In response to the measures of local governments [to contain] the spread of [the] COVID-19 virus, the majority of our points of sale in mainland China were temporarily closed since late January 2020, and Hong Kong and Macau from early February,” the jeweler said. “Businesses in both markets were inevitably affected during the period.” Read More
His and hers: gender fluid jewels for a new decade -
When Harry Styles stepped out on the red carpet at the BRIT awards in February 2020, he summed up the prevailing fashion mood perfectly. Dressed in a plum-coloured suit, lilac jumper (with coordinating nail polish) and scalloped poplin-collared shirt, his head-to-toe Gucci look was accessorised with a simple pearl necklace. Gasp – a man wearing pearls? He’s not the only one, either. At this year’s Grammys, Shawn Mendes and Jonas brothers Joe and Nick also opted for strings of pearls in what has to be the most unexpected jewellery trend of the year so far. The concept of gender-free jewellery is not new, but 2020 has seen a subtle shift from trend to something more permanent. Read More
When Harry Styles stepped out on the red carpet at the BRIT awards in February 2020, he summed up the prevailing fashion mood perfectly. Dressed in a plum-coloured suit, lilac jumper (with coordinating nail polish) and scalloped poplin-collared shirt, his head-to-toe Gucci look was accessorised with a simple pearl necklace. Gasp – a man wearing pearls? He’s not the only one, either. At this year’s Grammys, Shawn Mendes and Jonas brothers Joe and Nick also opted for strings of pearls in what has to be the most unexpected jewellery trend of the year so far. The concept of gender-free jewellery is not new, but 2020 has seen a subtle shift from trend to something more permanent. Read More
India's diamond exports may fall 20% as China battles coronavirus -
India’s diamond exports may decline by 20 per cent this financial year as global demand weakens because of travel and trade restrictions to prevent the spread of Coronavirus. Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) showed cut and polished diamonds worth $16.32 billion were exported between April 2019 and January 2020: a 17 per-cent fall compared to $19.61 billion between April 2018 and January 2019. Read More
India’s diamond exports may decline by 20 per cent this financial year as global demand weakens because of travel and trade restrictions to prevent the spread of Coronavirus. Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) showed cut and polished diamonds worth $16.32 billion were exported between April 2019 and January 2020: a 17 per-cent fall compared to $19.61 billion between April 2018 and January 2019. Read More
Mining under the spotlight to transition to renewable energy -
The impact of the energy transmission of the mining industry has been profound. It is one of the most energy-intensive industries in the world. It has also historically been a disproportionately large contributor to global warming, through the intensive use of fossil fuels to power operations. Read More
The impact of the energy transmission of the mining industry has been profound. It is one of the most energy-intensive industries in the world. It has also historically been a disproportionately large contributor to global warming, through the intensive use of fossil fuels to power operations. Read More
Study reveals the secret of magmatic rocks consisting of only one mineral -
Geologists from Wits University, in Johannesburg, South Africa, have come up with an original explanation of how nature may produce an intriguing class of magmatic rocks that are made up of only one type of mineral. The magmatic minerals are stored at great depth in the Earth and are delivered from there into the shallow intrusions close to the planet’s surface in the form of magmas. On cooling, these magmas crystallise to form rocks that are commonly composed of several types of minerals.
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Geologists from Wits University, in Johannesburg, South Africa, have come up with an original explanation of how nature may produce an intriguing class of magmatic rocks that are made up of only one type of mineral. The magmatic minerals are stored at great depth in the Earth and are delivered from there into the shallow intrusions close to the planet’s surface in the form of magmas. On cooling, these magmas crystallise to form rocks that are commonly composed of several types of minerals.
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Baselworld cancelled due to coronavirus -
Baselworld has called off this year’s fair after Swiss authorities banned large-scale events because of the coronavirus. Show organizer MCH Group has postponed the event — which had been scheduled to take place April 30 to May 5 in Basel, Switzerland — to January 28 to February 2, 2021. From then on, the fair will take place at the beginning of each year, in accordance with many participants’ requests, a Baselworld source told Rapaport News Sunday. Read More
Baselworld has called off this year’s fair after Swiss authorities banned large-scale events because of the coronavirus. Show organizer MCH Group has postponed the event — which had been scheduled to take place April 30 to May 5 in Basel, Switzerland — to January 28 to February 2, 2021. From then on, the fair will take place at the beginning of each year, in accordance with many participants’ requests, a Baselworld source told Rapaport News Sunday. Read More
China's diamond trade weighs virus effect -
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away, but for now, all they can do is manage a difficult situation. “There is always demand for diamonds in China, but currently consumers can’t go shopping, [as] hardly any shopping malls [are open],” said Lin Qiang, president of the Shanghai Diamond Exchange. Read More
Chinese retail is almost dead, the country’s bourses are quiet, and even importing rough goods has been fraught with obstacles. Diamond dealers expect a release of pent-up demand when the coronavirus goes away, but for now, all they can do is manage a difficult situation. “There is always demand for diamonds in China, but currently consumers can’t go shopping, [as] hardly any shopping malls [are open],” said Lin Qiang, president of the Shanghai Diamond Exchange. Read More
Warning over laser treatment to lab-grown diamond -
Experts were surprised to find a lab-grown diamond that had been laser-treated to enhance clarity. It is believed to be the first reported case of an LGD having undergone a treatment associated only with mined stones. Researchers at the Gemological Science International laboratory in Mumbai, India, found the 4.5-ct stone had been drilled to clean out a black inclusion.
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Experts were surprised to find a lab-grown diamond that had been laser-treated to enhance clarity. It is believed to be the first reported case of an LGD having undergone a treatment associated only with mined stones. Researchers at the Gemological Science International laboratory in Mumbai, India, found the 4.5-ct stone had been drilled to clean out a black inclusion.
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Coronavirus forces another Hong Kong event to postpone -
Another Hong Kong event has been forced to re-schedule because of the coronavirus outbreak. The 9th AEC Gems & Jewelry Presidents' Summit, originally scheduled for 3 March, will now take place on 19 May. It will form a part of two other Hong Kong shows, which have both been postponed amid health fears.
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Another Hong Kong event has been forced to re-schedule because of the coronavirus outbreak. The 9th AEC Gems & Jewelry Presidents' Summit, originally scheduled for 3 March, will now take place on 19 May. It will form a part of two other Hong Kong shows, which have both been postponed amid health fears.
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Star Rays aims for carbon neutrality -
Diamond exporter Star Rays has set a goal to become India’s first carbon-neutral diamond company. Mumbai-based Star Rays will take part in CIBJO, The World Jewellery Confederation’s Greenhouse Gas Measuring and Offsetting Initiative, which holds carbon emissions and removals up to international standards. Read More
Diamond exporter Star Rays has set a goal to become India’s first carbon-neutral diamond company. Mumbai-based Star Rays will take part in CIBJO, The World Jewellery Confederation’s Greenhouse Gas Measuring and Offsetting Initiative, which holds carbon emissions and removals up to international standards. Read More
The guilt-free engagement ring is here -
When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced. After researching the jewelry industry, he decided to quit his job and start the brand Do Amore, which means “I give with love” in Latin. His girlfriend’s ring—structured with recycled rose gold and an oval diamond from Botswana—was one of the first Do Amore created. Read More
When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced. After researching the jewelry industry, he decided to quit his job and start the brand Do Amore, which means “I give with love” in Latin. His girlfriend’s ring—structured with recycled rose gold and an oval diamond from Botswana—was one of the first Do Amore created. Read More
List of jewelry industry trade events for 2020 -
Need to keep track of the jewelry industry’s many, many trade events? Here’s your resource: See INSTORE's list of more than 60 industry trade shows, including links to each event website. This list will be updated throughout the year, so check in frequently.
Does your event need to be added?
Email Barbara Moss at barbara@smartworkmedia.com
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Need to keep track of the jewelry industry’s many, many trade events? Here’s your resource: See INSTORE's list of more than 60 industry trade shows, including links to each event website. This list will be updated throughout the year, so check in frequently.
Does your event need to be added?
Email Barbara Moss at barbara@smartworkmedia.com
Read More
Larry West buys unique 6.21ct pink purple diamond
Collector Larry West has added a unique Siberian stone to his famed array of pink diamonds. He is now proud owner of a 6.21-carat cushion cut fancy intense pink purple diamond that was unearthed and polished by Alrosa. The stone, from Yakutia, a region in northeastern Siberia, came with an electronic passport that included a detailed visual history of its extraction and production. Read More
Collector Larry West has added a unique Siberian stone to his famed array of pink diamonds. He is now proud owner of a 6.21-carat cushion cut fancy intense pink purple diamond that was unearthed and polished by Alrosa. The stone, from Yakutia, a region in northeastern Siberia, came with an electronic passport that included a detailed visual history of its extraction and production. Read More
How the coronavirus is impacting the jewelry industry - Global health officials estimate the coronavirus outbreak is responsible for [more than] 1,300 deaths worldwide, and its effects are rippling through the global economy. The current outbreak originated in the Wuhan province of China with symptoms similar to the common cold. The disease is impacting industries worldwide, including luxury brands, which depend heavily on Chinese consumers today. Read More
RJC signs UN Gender Responsive Standards Declaration -
Responsible Jewellery Council – the global standard setting organisation for the jewellery supply chain - has strengthened its ongoing commitment to gender equality by signing the United Nations Economic Commission for Europe (UNECE) ‘Declaration on Gender Responsive Standards and Standard Development’. The UNECE’s Declaration is intended to help achieve gender equality, empower women and girls throughout jewellery supply chains. Read More
Responsible Jewellery Council – the global standard setting organisation for the jewellery supply chain - has strengthened its ongoing commitment to gender equality by signing the United Nations Economic Commission for Europe (UNECE) ‘Declaration on Gender Responsive Standards and Standard Development’. The UNECE’s Declaration is intended to help achieve gender equality, empower women and girls throughout jewellery supply chains. Read More
5 women's watches for the month of love -
It’s the awards season, a time when celebrities compete for attention with their eye-catching fashion and jewels. As more female stars are bringing timepieces onto the red carpet, here are our five favourite luxury watches that pay tribute to love, gemstones and the universe.
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It’s the awards season, a time when celebrities compete for attention with their eye-catching fashion and jewels. As more female stars are bringing timepieces onto the red carpet, here are our five favourite luxury watches that pay tribute to love, gemstones and the universe.
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Renee Newman launches revised Diamond Ring Buying Guide
A revised and updated 8th Edition of Renee Newman's Diamond Ring Buying Guide is now available. The revised and updated 8th edition, with 131 new photographs, has added chapters on silver and alternative metals, new information on lab-grown diamonds and diamond treatments, and updated information throughout the book. Unlike the Diamond Handbook which is geared to trade professionals, the Diamond Ring Buying Guide is directed to consumers and new jewelry salespeople. A book signing event was held in Tucson in early February at the booth of the National Association of Jewelry Appraisers (NAJA) at the AGTA GemFair.
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A revised and updated 8th Edition of Renee Newman's Diamond Ring Buying Guide is now available. The revised and updated 8th edition, with 131 new photographs, has added chapters on silver and alternative metals, new information on lab-grown diamonds and diamond treatments, and updated information throughout the book. Unlike the Diamond Handbook which is geared to trade professionals, the Diamond Ring Buying Guide is directed to consumers and new jewelry salespeople. A book signing event was held in Tucson in early February at the booth of the National Association of Jewelry Appraisers (NAJA) at the AGTA GemFair.
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Pandora vows to be carbon-neutral by 2025 -
Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers. From this year, the jeweler will use 100% renewable energy at its two manufacturing facilities in Thailand, which currently account for 52% of its emissions. Over time, it will source more of its own solar power and buy green energy for its stores, while purchasing carbon offsets to deal with the remaining 5% of unavoidable emissions. Read More
Pandora has committed to being carbon-neutral in its own operations by 2025 as part of a plan to reduce the environmental impact of the company and its suppliers. From this year, the jeweler will use 100% renewable energy at its two manufacturing facilities in Thailand, which currently account for 52% of its emissions. Over time, it will source more of its own solar power and buy green energy for its stores, while purchasing carbon offsets to deal with the remaining 5% of unavoidable emissions. Read More
Gold jewelry demand hits eight-year low -
Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported. Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand from rural sectors also led to the drop. Consumer sales were weaker during the important jewelry-buying Diwali holiday. Read More
Global gold-jewelry demand dropped 10% year on year in the fourth quarter to its lowest level since 2011 due to economic slowdowns in India and China, the World Gold Council (WGC) reported. Appetite for gold jewelry in India fell 17% for the quarter, as prices of the yellow metal reached record levels in the second half of the year. The domestic slowdown in the country and lower demand from rural sectors also led to the drop. Consumer sales were weaker during the important jewelry-buying Diwali holiday. Read More
Gold sheen sapphires: revisiting this new species -
Discovered in a remote part of Kenya about a decade ago, a new species of sapphire first came onto the market in 2014. Realizing the potential of these rough gems when he first saw them, Tanzim Khan, a Bangkok-based gem dealer, purchased the mine's entire production. Because of their unusual bronze sheen that exhibits a shimmering gold effect, Khan named this new gem "Gold Sheen Sapphires." Now six years later, GemScene takes a look at the evolution of these unusual gemstones. Read More
Discovered in a remote part of Kenya about a decade ago, a new species of sapphire first came onto the market in 2014. Realizing the potential of these rough gems when he first saw them, Tanzim Khan, a Bangkok-based gem dealer, purchased the mine's entire production. Because of their unusual bronze sheen that exhibits a shimmering gold effect, Khan named this new gem "Gold Sheen Sapphires." Now six years later, GemScene takes a look at the evolution of these unusual gemstones. Read More
World Diamond Council appoints new executive director -
Elodie Daguzan is to become the new Executive Director of the World Diamond Council (WDC), following the approval of her appointment by the organization’s Board of Directors. A French native, Ms. Daguzan is a 19-year veteran of the diamond industry, having filled a variety of roles in various sectors of the value chain. Over this period, she held positions at several of the most prestigious high-end jewelry brands, and for the past eight years has been Head of Communications and Industry Relations at Rubel & Ménasché, a Paris-based diamond trading company. Ms. Daguzan has represented the company in the WDC, serving as an active member of the Kimberley Process Task Force, and also of the Communications, Membership and Strategic Planning committees. She will begin her new role at the WDC on February 1, 2020. Read More
Elodie Daguzan is to become the new Executive Director of the World Diamond Council (WDC), following the approval of her appointment by the organization’s Board of Directors. A French native, Ms. Daguzan is a 19-year veteran of the diamond industry, having filled a variety of roles in various sectors of the value chain. Over this period, she held positions at several of the most prestigious high-end jewelry brands, and for the past eight years has been Head of Communications and Industry Relations at Rubel & Ménasché, a Paris-based diamond trading company. Ms. Daguzan has represented the company in the WDC, serving as an active member of the Kimberley Process Task Force, and also of the Communications, Membership and Strategic Planning committees. She will begin her new role at the WDC on February 1, 2020. Read More
Chow Tai Fook purchases Chinese retailer Enzo Jewelry, Inc. -
Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China. Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Read More
Chow Tai Fook Jewellery Group Limited has acquired Enzo Jewelry Inc. The retailer, which specializes in colored gemstones, has 60 points of sale in Mainland China. Adrian Cheng, executive director of Chow Tai Fook Jewellery Group, said Enzo will continue its niche position as a natural coloured gem specialist, which will complement the group's multi-brand strategy. Read More
GIA examines Alrosa's Matryoshka diamond -
The Gemological Institute of America has proposed an explanation for how Alrosa's diamond-within-a-diamond came about. GIA’s team found that over a period of millions or billions of years, approximately 0.11 carats of diamond dissolved through two small channels that extended from the surface of the diamond to its inner cavity. The remaining diamond material created a 0.03-carat crystal that is entirely detached and moves freely within its outer diamond shell, the institute said. Read More
The Gemological Institute of America has proposed an explanation for how Alrosa's diamond-within-a-diamond came about. GIA’s team found that over a period of millions or billions of years, approximately 0.11 carats of diamond dissolved through two small channels that extended from the surface of the diamond to its inner cavity. The remaining diamond material created a 0.03-carat crystal that is entirely detached and moves freely within its outer diamond shell, the institute said. Read More
Phillip Gavriel shows new spring collection at Vicenzaoro -
At the Vicenzaoro jewelry trade show, Phillip Gavriel is debuting a new look. Bracelets in sterling silver with occasional pops of 18-karat or 14-karat yellow gold are the star of Phillip Gavriel’s spring 2020 ad campaign.
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At the Vicenzaoro jewelry trade show, Phillip Gavriel is debuting a new look. Bracelets in sterling silver with occasional pops of 18-karat or 14-karat yellow gold are the star of Phillip Gavriel’s spring 2020 ad campaign.
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How to sell to millennials -
Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That’s why it’s essential to understand what makes them tick, and how to capture their loyalty. Read More
Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That’s why it’s essential to understand what makes them tick, and how to capture their loyalty. Read More
JVC honors GIA CEO Susan Jacques -
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award. The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community’s reputation through their dedication, ethics and integrity. Jacques became head of the GIA in 2014, before which she was CEO of Borsheims for 20 years. Read More
The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award. The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community’s reputation through their dedication, ethics and integrity. Jacques became head of the GIA in 2014, before which she was CEO of Borsheims for 20 years. Read More
Luk Fook to reduce Hong Kong presence -
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending. The retailer expects a “single-digit” decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a “double-digit” drop the following year. That comes after sales slumped in the municipality amid mass street demonstrations and a decline in tourist arrivals. Read More
Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending. The retailer expects a “single-digit” decrease in the number of rental leases it renews in Hong Kong in the current financial year ending March 31, and a “double-digit” drop the following year. That comes after sales slumped in the municipality amid mass street demonstrations and a decline in tourist arrivals. Read More
US jewelry trade continues to downsize -
The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.
The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.
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The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.
The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.
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Second-biggest diamond ever will become Louis Vuitton jewelry - The second-biggest diamond in history will be cut, polished and turned into a collection of Louis Vuitton jewelry. Lucara Diamond Corp., which found the 1,758-carat Sewelo diamond at its Botswana mine last year, said it struck a deal with the luxury brand and Antwerp diamond manufacturer HB Company. It’s unclear how valuable the polished diamonds will be though, as Lucara said the Sewelo wasn’t a type of diamond that yields top jewelry standard gems. Read More
Chow Tai Fook China sales jump -
Sales at Chow Tai Fook’s mainland China stores grew in the third quarter amid a significant expansion of the jeweler’s network in the country. Total retail sales climbed 17% year on year in China for the three months ending December 31, while same-store sales — at locations open for more than a year — rose 2%. Chow Tai Fook added a net 279 points of sale in the country during the period, contributing to the growth.
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Sales at Chow Tai Fook’s mainland China stores grew in the third quarter amid a significant expansion of the jeweler’s network in the country. Total retail sales climbed 17% year on year in China for the three months ending December 31, while same-store sales — at locations open for more than a year — rose 2%. Chow Tai Fook added a net 279 points of sale in the country during the period, contributing to the growth.
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Bahrain looks to put natural pearls on the map -
World’s biggest producer of these nacreous treasures wants to boost their popularity among US and international consumers.
The archipelago nation, which lies between Saudi Arabia and Qatar on the southwestern coast of the Persian Gulf, comprises more than 30 islands. Diving for natural pearls and trading them internationally has been integral to its history for more than 4,000 years, according to Yaser Alsharifi, board chairman at the Bahrain Institute for Pearls & Gemstones (DANAT). Read More
World’s biggest producer of these nacreous treasures wants to boost their popularity among US and international consumers.
The archipelago nation, which lies between Saudi Arabia and Qatar on the southwestern coast of the Persian Gulf, comprises more than 30 islands. Diving for natural pearls and trading them internationally has been integral to its history for more than 4,000 years, according to Yaser Alsharifi, board chairman at the Bahrain Institute for Pearls & Gemstones (DANAT). Read More
Tiffany & Co. Shanghai store now largest in Asia -
Tiffany & Co. recently unveiled its newly redesigned Shanghai flagship store. At 10,000 square feet, the store has doubled in size and is the largest Tiffany outlet in Asia. The two-story store also houses the Chinese Mainland's first Tiffany Blue Box Cafe, which is located on the upper level. It carries high jewelry designs, classic collections, fashion accessories, to the newly launched men's collections and home & accessories lines. Read More
Tiffany & Co. recently unveiled its newly redesigned Shanghai flagship store. At 10,000 square feet, the store has doubled in size and is the largest Tiffany outlet in Asia. The two-story store also houses the Chinese Mainland's first Tiffany Blue Box Cafe, which is located on the upper level. It carries high jewelry designs, classic collections, fashion accessories, to the newly launched men's collections and home & accessories lines. Read More
Bonas announces colored stone tender 2020 - Bonas, one of the world’s leading diamond tender houses, will hold a gemstone tender at the February Bangkok Gems & Jewelry Fair for the first time at the IMPACT Challenger Center. Viewings will also take place during the March Hong Kong Jewellery & Gem Fair. The event is being organized with the support of the Asia Gem Center in Bangkok. Read More
Women aren't waiting around for jewelry -
The Women's Jewelry Association's (WJA) announcement that it is promoting women buying their own jewelry with its "March is Me Month" campaign looks like a great initiative. After all, women's spending power is huge. According to an article in entrepreneur.com, though, the business world is blasé about recognizing the "female economy," which Forbes put at $18 trillion in 2017 - and it's only grown since.
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The Women's Jewelry Association's (WJA) announcement that it is promoting women buying their own jewelry with its "March is Me Month" campaign looks like a great initiative. After all, women's spending power is huge. According to an article in entrepreneur.com, though, the business world is blasé about recognizing the "female economy," which Forbes put at $18 trillion in 2017 - and it's only grown since.
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Jaipur Lab to certify eBay India gemstones -
Gemstone sellers using eBay India can now get their goods certified by the Jaipur-based Gem Testing Laboratory (GTL) for a nominal fee. Under a new agreement between the lab and the trading giant, all gemstones sold through eBay will be accompanied by a GTL certificate. The move is designed to increase consumer confidence in gemstones sold online and to boost exports of gemstones and gemstone-studded jewelry from India. Read More
Gemstone sellers using eBay India can now get their goods certified by the Jaipur-based Gem Testing Laboratory (GTL) for a nominal fee. Under a new agreement between the lab and the trading giant, all gemstones sold through eBay will be accompanied by a GTL certificate. The move is designed to increase consumer confidence in gemstones sold online and to boost exports of gemstones and gemstone-studded jewelry from India. Read More
Five gemstone trends and topics to know before the Tucson gem shows -
Rather than predict how the gemstone trade will fare over the next decade, we decided to focus on the imminent future: According to our crystal ball, these are the five things every gem buyer should know in the run-up to next month’s Tucson gem shows.
Classic Blue, Pantone’s 2020 Color of the Year
The Up-and-Coming Gem Variety: Garnet
The Color Palette: Orangey-Reds
The Big Topic: Sustainability
The Other Big Topic: Country of Origin
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Rather than predict how the gemstone trade will fare over the next decade, we decided to focus on the imminent future: According to our crystal ball, these are the five things every gem buyer should know in the run-up to next month’s Tucson gem shows.
Classic Blue, Pantone’s 2020 Color of the Year
The Up-and-Coming Gem Variety: Garnet
The Color Palette: Orangey-Reds
The Big Topic: Sustainability
The Other Big Topic: Country of Origin
Read More
Dubai to celebrate 25 years of Dubai City of Gold with gold prizes -
In celebration of 25 years of Dubai City of Gold and Dubai Shopping festival, Dubai Gold and Jewellery Group (DGJG), the largest trade body for the jewellery industry in association with Dubai Festivals & Retail Establishment (DFRE) has revealed a special 'Dubai City of Gold' commemorative coin and also announced their latest jewellery campaign for Dubai Shopping Festival (DSF) 2020.
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In celebration of 25 years of Dubai City of Gold and Dubai Shopping festival, Dubai Gold and Jewellery Group (DGJG), the largest trade body for the jewellery industry in association with Dubai Festivals & Retail Establishment (DFRE) has revealed a special 'Dubai City of Gold' commemorative coin and also announced their latest jewellery campaign for Dubai Shopping Festival (DSF) 2020.
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Jewelry and watches among big sellers on eBay in 2019 -
Auction site eBay has released its annual "Most Interesting and Expensive Purchases" of the year list. While watches and jewelry couldn't compete with the biggest buy on the site - the 20th annual power lunch with Warren Buffett to benefit GLIDE, which sold for: $4.6 million, they put in a good show.
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Auction site eBay has released its annual "Most Interesting and Expensive Purchases" of the year list. While watches and jewelry couldn't compete with the biggest buy on the site - the 20th annual power lunch with Warren Buffett to benefit GLIDE, which sold for: $4.6 million, they put in a good show.
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The diamonds that created a buzz in 2019 -
It was another big year for big diamonds, with several stones that raked in big bucks, set records, or otherwise made headlines. These were the stones that caught our attention in 2019. See lists of: Biggest Money Makers, For the Record and Attention Seekers.
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It was another big year for big diamonds, with several stones that raked in big bucks, set records, or otherwise made headlines. These were the stones that caught our attention in 2019. See lists of: Biggest Money Makers, For the Record and Attention Seekers.
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Graff buys 21ct. polished yellow from Alrosa -
Alrosa has sold its celebrated Firebird diamond to Graff, achieving one of the highest per-carat prices for a stone of its type in recent years, the miner said. Alrosa did not disclose the final sale price of the Asscher-cut, 20.69-carat, fancy-vivid-yellow, VS1-clarity stone. However, the sale was significant as it was made without the involvement of other parties, the company said.
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Alrosa has sold its celebrated Firebird diamond to Graff, achieving one of the highest per-carat prices for a stone of its type in recent years, the miner said. Alrosa did not disclose the final sale price of the Asscher-cut, 20.69-carat, fancy-vivid-yellow, VS1-clarity stone. However, the sale was significant as it was made without the involvement of other parties, the company said.
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Chow Tai Fook launches jewelry academy partnership - Chow Tai Fook Jewellery Group Limited, in partnership with French jewelry school, Haute Ecole de Joaillerie (HEJ), has launched the Loupe Jewellery Academy. The company said academy will shape the future by "incubating and inspiring forthcoming generations in the jewelry industry." The academy, whose curriculum covers design, craftsmanship and sales and marketing, has already held its first high jewelry design course. Read More
IGI and WeSchool launch jewelry design and management program - The International Gemological Institute (IGI) has teamed up with S P Mandali's Principal L N Welingkar Institute of Management Development and Research (WeSchool) business school to launch a Jewelry Design and Business Management Program in Mumbai.
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Faberge welcomes the Chinese New Year with new rat locket - Jewelry and rats—they usually don’t mix. The Chinese New Year on Jan. 25 will usher in the Year of the Rat. Iconic Russian jeweler Fabergé has released a new locket in its series of Palais Tsarskoye Selo red lockets that, when opened, reveals a rat inside. The locket—called the Palais Tsarskoye Selo red locket with Rat Surprise—features red guilloche enamel and 15 round brilliant diamonds set in 18k yellow gold. The egg-shape locket opens to reveal the (very cute) solid 18k gold rat, which has diamonds for eyes!
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Why a few lab-grown diamonds temporarily change color -
Laura Sipe couldn’t believe her eyes. In February, the owner of J.C. Sipe Jewelers in Indianapolis was readying an I-color lab-grown diamond for a customer. She had always heard that lab-growns fluoresce differently under ultraviolet light, so she decided to take out her UV lamp and check for herself. When she removed the stone, it was no longer an I. It was gray. And she “freaked out.” She called up her vendor, who was just as surprised. “One person in the office said she had heard of something like this. She said the diamond turned purple and then it reverted back.” Read More
Laura Sipe couldn’t believe her eyes. In February, the owner of J.C. Sipe Jewelers in Indianapolis was readying an I-color lab-grown diamond for a customer. She had always heard that lab-growns fluoresce differently under ultraviolet light, so she decided to take out her UV lamp and check for herself. When she removed the stone, it was no longer an I. It was gray. And she “freaked out.” She called up her vendor, who was just as surprised. “One person in the office said she had heard of something like this. She said the diamond turned purple and then it reverted back.” Read More
Sotheby's hires new Asia jewelry head -
Sotheby’s has appointed Wenhao Yu as deputy chairman of jewelry for Asia, to help strengthen its expertise and sourcing capabilities and expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department. Prior to that role, he cofounded the jewels and watches department at Poly Auction Beijing. Read More
Sotheby’s has appointed Wenhao Yu as deputy chairman of jewelry for Asia, to help strengthen its expertise and sourcing capabilities and expand its business in the region. Yu was previously at Poly Auction Hong Kong, where he founded and headed its jewels and prestige collection department. Prior to that role, he cofounded the jewels and watches department at Poly Auction Beijing. Read More
Mouawad unveils $5 million Miss Universe diamond crown -
Sightholder Mouawad has unveiled the $5 million crown created for the Miss Universe competition. The 18-karat gold creation, called The Miss Universe Power of Unity Crown, is set with over 1,770 white diamonds. The headpiece also features three yellow diamonds from Botswana including a 62.83-carat shield-cut canary yellow stone at its center. Read More
Sightholder Mouawad has unveiled the $5 million crown created for the Miss Universe competition. The 18-karat gold creation, called The Miss Universe Power of Unity Crown, is set with over 1,770 white diamonds. The headpiece also features three yellow diamonds from Botswana including a 62.83-carat shield-cut canary yellow stone at its center. Read More
Colombia's artisanal gold miners now part of a global traceable supply chain -
A group of international organizations, led by Switzerland’s Better Gold Initiative (BGI), has extended their responsible mining initiative to hundreds of artisanal gold miners from El Chocó, Colombia, which are now part of a fully traceable and accountable international supply chain.
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A group of international organizations, led by Switzerland’s Better Gold Initiative (BGI), has extended their responsible mining initiative to hundreds of artisanal gold miners from El Chocó, Colombia, which are now part of a fully traceable and accountable international supply chain.
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Sarine joins race to buy HRD Antwerp -
Sarine Technologies has entered the running to acquire HRD Antwerp, according to two sources close to the sale process.
The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Potential buyers of HRD have until December 10th to submit a final bid with a proposed price, one of the sources added. Read More
Sarine Technologies has entered the running to acquire HRD Antwerp, according to two sources close to the sale process.
The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Potential buyers of HRD have until December 10th to submit a final bid with a proposed price, one of the sources added. Read More
Tiffany opens men's holiday pop-up shop in NY -
The Tiffany Men’s Pop-Up Shop popped up just in time for the holidays in New York City. It’s in the space that will be the jeweler’s home for the next two years. The pop-up shop is selling merchandise from the jeweler's recently launched men’s collection, including accessories, barware, home objects and games. Read More
The Tiffany Men’s Pop-Up Shop popped up just in time for the holidays in New York City. It’s in the space that will be the jeweler’s home for the next two years. The pop-up shop is selling merchandise from the jeweler's recently launched men’s collection, including accessories, barware, home objects and games. Read More
Celebrity News: Beyonce in Marco Bicego, Sandra Oh in Yoko London -
Beyoncé posted a collection of snapshots from her appearance at the premiere of her highly anticipated new release, Queen & Slim, rocking jewelry from Marco Bicego. Queen Bey wore the designer’s Lunaria yellow gold chandelier earrings with diamonds and yellow gold wide ring and his Masai yellow gold and diamond crossover ring to the November 14 event. Sandra Oh rocked a pair of Kaleidoscope South Sea pearl and pink sapphire earrings from jewelry designer Yoko London at the British Fashion Awards.
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Beyoncé posted a collection of snapshots from her appearance at the premiere of her highly anticipated new release, Queen & Slim, rocking jewelry from Marco Bicego. Queen Bey wore the designer’s Lunaria yellow gold chandelier earrings with diamonds and yellow gold wide ring and his Masai yellow gold and diamond crossover ring to the November 14 event. Sandra Oh rocked a pair of Kaleidoscope South Sea pearl and pink sapphire earrings from jewelry designer Yoko London at the British Fashion Awards.
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De Beers ends special supply measures -
Rough-diamond buyers are anticipating an improvement in sales at next week’s De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders’ ability to refuse or defer their supply allocations, sources in the rough market told Rapaport News.
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Rough-diamond buyers are anticipating an improvement in sales at next week’s De Beers sight, as the miner is withdrawing concessions that allowed clients to reject goods. De Beers will revert to its standard rules limiting sightholders’ ability to refuse or defer their supply allocations, sources in the rough market told Rapaport News.
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This woman sells diamonds via Instagram -
$70,000. That's how much money someone coughed up to buy a @TheClearCut engagement ring on Instagram. We talked to the company's CEO and founder @OliviaLandau about disrupting the male-dominated diamond industry #SheRoars
via Bloomberg News
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$70,000. That's how much money someone coughed up to buy a @TheClearCut engagement ring on Instagram. We talked to the company's CEO and founder @OliviaLandau about disrupting the male-dominated diamond industry #SheRoars
via Bloomberg News
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Why we're all going to be feeling blue in 2020 -
"We could all be seeing a lot more blue next year with the announcement by color experts that PANTONE 19-4052, Classic Blue, an indigo hue, is the Pantone Color of the Year for 2020," writes Danielle Max of IDEX. According to Leatrice Eiseman, executive director of the Pantone Color Institute, this color "encourages us to look beyond the obvious to expand our thinking; challenging us to think more deeply, increase our perspective and open the flow of communication" and is "imbued with a deep resonance [that] provides an anchoring foundation."
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"We could all be seeing a lot more blue next year with the announcement by color experts that PANTONE 19-4052, Classic Blue, an indigo hue, is the Pantone Color of the Year for 2020," writes Danielle Max of IDEX. According to Leatrice Eiseman, executive director of the Pantone Color Institute, this color "encourages us to look beyond the obvious to expand our thinking; challenging us to think more deeply, increase our perspective and open the flow of communication" and is "imbued with a deep resonance [that] provides an anchoring foundation."
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Tiffany sales hit by Hong Kong unrest -
Unrest in Hong Kong hit jewelry chain Tiffany & Co. hard in its third quarter. The company reported that worldwide net sales of $1 billion and comparable sales were unchanged from the prior year. Excluding Hong Kong, worldwide net sales and comparable sales increased by 4 percent and 3 percent, respectively.
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Unrest in Hong Kong hit jewelry chain Tiffany & Co. hard in its third quarter. The company reported that worldwide net sales of $1 billion and comparable sales were unchanged from the prior year. Excluding Hong Kong, worldwide net sales and comparable sales increased by 4 percent and 3 percent, respectively.
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GIA to shut down Dubai branch -
The Gemological Institute of America (GIA) will close its Dubai office by the end of the year, ending a decade-long presence in the city. The organization has offered education programs, including its Graduate Diamonds course and distance-education lab classes, in Dubai since 2008, and opened a take-in facility to ship stones for grading in 2010. Both services will close by December 31st.
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The Gemological Institute of America (GIA) will close its Dubai office by the end of the year, ending a decade-long presence in the city. The organization has offered education programs, including its Graduate Diamonds course and distance-education lab classes, in Dubai since 2008, and opened a take-in facility to ship stones for grading in 2010. Both services will close by December 31st.
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China growth rescues Chow Tai Fook sales -
Sales at Chow Tai Fook were down only slightly in the first fiscal half as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77 billion) in the six months ending September 30, the company. Total sales in mainland China rose 12% during the period, as the Hong Kong-based jeweler expanded its store network.
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Sales at Chow Tai Fook were down only slightly in the first fiscal half as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77 billion) in the six months ending September 30, the company. Total sales in mainland China rose 12% during the period, as the Hong Kong-based jeweler expanded its store network.
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Your 2020 guide to engagement ring trends that are in and out - Shopping for an engagement ring can be completely daunting if you don't know where to begin. With so many factors to consider like stone shape, gemstones, setting styles, vintage versus new, and more, the number of potential combinations approaches infinity. In other words, it's easy to get overwhelmed by all the choices you can make. So before you get in over your head, we're here to help guide you to (hopefully) finding your perfect match. Read More
Bain says luxury secondhand market is opportunity not threat - The secondhand market, which reached €26 billion ($28.8 billion) in 2019, is evidence of the evolving mentality of luxury goods buyers. That's just one finding of the latest Bain & Company Luxury Study. According to the study, the luxury sector grew by 4 percent in 2019 to an estimated €1.3 trillion ($1.4 trillion) globally. The personal luxury goods segment also grew 4 percent, reaching €281 billion ($311 billion). Read More
After $1B theft, German museum finds it has no insurance - A day after burglars made off with priceless jewels from a German museum, pressure is growing on police to find the culprits. One big reason: The diamond-encrusted dagger, pearl necklace, and dozens of other glittering artifacts—estimated to be worth more than $1 billion by the local press—were uninsured. Read More
JMA Hong Kong International Jewelry Show 2019 opens with fanfare -
The 27th edition of the JMA Hong Kong International Jewelry Show opened at the Hong Kong Convention and Exhibition Centre. The chairman of HKJMA presided over the opening ceremony, which was attended by many dignitaries and gem and jewelry industry leaders from around the world. Attendees were treated to the traditional lion dance highlighting the opening of the show. Read More
The 27th edition of the JMA Hong Kong International Jewelry Show opened at the Hong Kong Convention and Exhibition Centre. The chairman of HKJMA presided over the opening ceremony, which was attended by many dignitaries and gem and jewelry industry leaders from around the world. Attendees were treated to the traditional lion dance highlighting the opening of the show. Read More
Auriana finds evidence of highly sought-after lost gold city in Ecuador -
Canadian junior Aurania Resources (TSX-V: ARU) said it had found vestiges of an old road at the very centre of its flagship asset, The Lost Cities – Cutucu project, which it believes provides solid field evidence of its project being at one of Ecuador’s lost gold mining centres. The road, the company said, was discovered by its field teams while searching for “Sevilla de Oro,” which was one of two gold producing cities described in historic manuscripts from Ecuador, Peru, Spain and the Vatican. Read More
Canadian junior Aurania Resources (TSX-V: ARU) said it had found vestiges of an old road at the very centre of its flagship asset, The Lost Cities – Cutucu project, which it believes provides solid field evidence of its project being at one of Ecuador’s lost gold mining centres. The road, the company said, was discovered by its field teams while searching for “Sevilla de Oro,” which was one of two gold producing cities described in historic manuscripts from Ecuador, Peru, Spain and the Vatican. Read More
Provenance Proof delivers digital tracking for gemstones -
Provenance Proof has reached a significant moment in its move to provide transparency to the coloured gemstone market. It has successfully protected over 18kg of emeralds that were sold at the Gemfields November 2019 auction in Singapore. The emeralds all came from Gemfields mines in Zambia.
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Provenance Proof has reached a significant moment in its move to provide transparency to the coloured gemstone market. It has successfully protected over 18kg of emeralds that were sold at the Gemfields November 2019 auction in Singapore. The emeralds all came from Gemfields mines in Zambia.
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US jewelry and watch sales rise steadily - It may be too early for retailers to celebrate a strong end to the year, but with total US jewelry and watch sales up for the third month in a row, it's a good sign that 2019 will end much better than it started. Sales of fine jewelry and fine watches increased by 6 percent in the US market in September compared to September 2018. Following a scant 1- and 2-percent rise in July and August, this 6-percent increase marks the strongest results year-over-year in 13 months. Read More
Interviews with expats who call Thailand home -
An article by Cynthia Unninayar for InColor magazine highlights a few of the many talented and creative expatriates in the gem and jewelry industry who work and live in Thailand. The article features Jacques Prades, Alessio Boschi, Vibeke Lyssand Liervag, Anthony Brooke, Gonzague Zurstrassen, Eric Piat, Adam Komarnicki and more.
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An article by Cynthia Unninayar for InColor magazine highlights a few of the many talented and creative expatriates in the gem and jewelry industry who work and live in Thailand. The article features Jacques Prades, Alessio Boschi, Vibeke Lyssand Liervag, Anthony Brooke, Gonzague Zurstrassen, Eric Piat, Adam Komarnicki and more.
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Birthstone guide: topaz for those born in November -
Gem-A gemmology tutor Lily Faber FGA DGA EG takes a closer look at topaz, the birthstone of November, and explains why this gem should be high up on your Christmas wish list. For those born in the cold month of November, topaz is a well-known and hopefully well-loved gemstone. Read More
Gem-A gemmology tutor Lily Faber FGA DGA EG takes a closer look at topaz, the birthstone of November, and explains why this gem should be high up on your Christmas wish list. For those born in the cold month of November, topaz is a well-known and hopefully well-loved gemstone. Read More
Jadeite necklace nets of $9m at Christie's Hong Kong sale -
A jadeite bead and spinel necklace was the top lot at Christie’s Hong Kong sale, fetching HKD 73.6 million ($9.4 million). The necklace is named the Heavenly Harmony because its 68 jadeite beads are perfectly matched from two different rough stones. It was estimated at $7 million to $11 million at the Magnificent Jewels auction. The entire sale brought in HKD 396.5 million ($50.6 million). Read More
A jadeite bead and spinel necklace was the top lot at Christie’s Hong Kong sale, fetching HKD 73.6 million ($9.4 million). The necklace is named the Heavenly Harmony because its 68 jadeite beads are perfectly matched from two different rough stones. It was estimated at $7 million to $11 million at the Magnificent Jewels auction. The entire sale brought in HKD 396.5 million ($50.6 million). Read More
LMVH sees value in Tiffany's diamond sourcing -
A storied past and popularity as a brand might be the first things that would attract a potential suitor to Tiffany & Co. But LVMH has identified another key attribute that made the US jeweler a valuable target: its ability to source its own diamonds and track its supply chain.
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A storied past and popularity as a brand might be the first things that would attract a potential suitor to Tiffany & Co. But LVMH has identified another key attribute that made the US jeweler a valuable target: its ability to source its own diamonds and track its supply chain.
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Historic German museum looted of millions of dollars of valuables -
A historic museum in Germany has been looted of potentially millions of dollars worth of valuables in a brazen overnight heist in the city of Dresden. The State Art Collections located in the Green Vault were the target of the theft.
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A historic museum in Germany has been looted of potentially millions of dollars worth of valuables in a brazen overnight heist in the city of Dresden. The State Art Collections located in the Green Vault were the target of the theft.
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LMVH seals Tiffany deal for $16 billion -
LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’s position in the global jewelry market and increasing its US presence. The deal will transform LVMH’s watches and jewelry division.
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LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’s position in the global jewelry market and increasing its US presence. The deal will transform LVMH’s watches and jewelry division.
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Jewelry among top performers at major retailers -
Two of the top US department stores noted strong jewelry sales in the third fiscal quarter, even as their overall sales disappointed. “In terms of specific results, our top-performing merchandise categories in the quarter included fine jewelry, footwear, men’s and women’s apparel,” J.C. Penney chief financial officer Bill Wafford said last week on an analyst call transcribed by Seeking Alpha. Read More
Two of the top US department stores noted strong jewelry sales in the third fiscal quarter, even as their overall sales disappointed. “In terms of specific results, our top-performing merchandise categories in the quarter included fine jewelry, footwear, men’s and women’s apparel,” J.C. Penney chief financial officer Bill Wafford said last week on an analyst call transcribed by Seeking Alpha. Read More
Strong investment demand for platinum in 2019 & 2020 -
The platinum market is forecast to be in balance for 2019 as this year’s updated forecast now reflects a deficit of 30 koz compared to the prior estimate of a surplus of 345 koz. This is according to the World Platinum Investment Council’s (WPIC’s) Platinum Quarterly, for the third quarter of 2019, which includes a revision to the full-year 2019 forecast as well as an initial forecast for 2020.
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The platinum market is forecast to be in balance for 2019 as this year’s updated forecast now reflects a deficit of 30 koz compared to the prior estimate of a surplus of 345 koz. This is according to the World Platinum Investment Council’s (WPIC’s) Platinum Quarterly, for the third quarter of 2019, which includes a revision to the full-year 2019 forecast as well as an initial forecast for 2020.
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WDC urges government to act on KP reforms -
With the Kimberley Process three-year reform and review cycle about to end, governments alone hold the future of the KP’s much anticipated reform agenda in their hands, Stephane Fischler, President of the World Diamond Council said during his address to government representatives at the 2019 KP Plenary Meeting in New Delhi, India. Read More
With the Kimberley Process three-year reform and review cycle about to end, governments alone hold the future of the KP’s much anticipated reform agenda in their hands, Stephane Fischler, President of the World Diamond Council said during his address to government representatives at the 2019 KP Plenary Meeting in New Delhi, India. Read More
CIBJO Congress conducts Fei Cui special session - The development and deep significance of the market in Fei Cui, which is known as jade and jadeite in the West, was presented in a special session by Dr Edward Liu, Vice Chairman of the Gemmological Association of Hong Kong and Kent Wong, Managing Director of Chow Tai Fook Jewellery Group and chairman of the Hong Kong Jewellers & Goldsmiths Association. Read More
Tennis legend Serena Williams launches jewelry collaboration with K.P. Sanghvi -
Tennis icon Serena Williams has unveiled her first fine jewelry collection. Created in a collaboration with diamond manufacturer K.P. Sanghvi, Serena Williams Jewelry launched exclusively with Fred Meyer Jewelers online and at select stores and on Macys.com.
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Tennis icon Serena Williams has unveiled her first fine jewelry collection. Created in a collaboration with diamond manufacturer K.P. Sanghvi, Serena Williams Jewelry launched exclusively with Fred Meyer Jewelers online and at select stores and on Macys.com.
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Legacy of Bahrain's historic pearl industry highlighted at CIBJO Congress -
The 2019 CIBJO Congress kicked off at the Four Seasons Hotel in Manama, Bahrain under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa who is the country’s Prime Minister. The conference opening highlighted Bahrain’s historic pearl industry. Read More
The 2019 CIBJO Congress kicked off at the Four Seasons Hotel in Manama, Bahrain under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa who is the country’s Prime Minister. The conference opening highlighted Bahrain’s historic pearl industry. Read More
Rio Tinto's Argyle pink diamond tender delivers exceptional results -
The 2019 Argyle Pink Diamonds Tender collection titled “The Quest for the Absolute” comprises of six hero diamonds and is being showcased in Perth, Singapore, London and New York. Read More
The 2019 Argyle Pink Diamonds Tender collection titled “The Quest for the Absolute” comprises of six hero diamonds and is being showcased in Perth, Singapore, London and New York. Read More
Zimbabwe to take smaller cut of diamond sales -
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields. The government proposed a new royalty rate of 10% in the annual budget last week. Read More
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields. The government proposed a new royalty rate of 10% in the annual budget last week. Read More
Almost 6000 retail shops closed this year - British retailing may be in “crisis,” after new figures from the Centre of Retail Research revealed that large high street retailers have faced a total of 5,834 store closures so far this year. CRR said this marked a 77% increase from the closures in 2018, when 3,303 large retailers shut their doors. Read More
CIBJO Congress opens in Bahrain - The 2019 CIBJO Congress has opened in Bahrain, with a call on the jewellery industry by CIBJO President Gaetano Cavelieri to take action on climate change, which he said was not an issue specific to the sector, but it is the “most important story of our time. This year's Congress is hosted by DANAT. Read More
Petra sells 20ct. blue diamond for $15m - Petra Diamonds sold a 20-carat blue diamond from its Cullinan mine in South Africa for just under $15 million. “We are very pleased with this result, which is in line with our expectations and confirms the resilience in the value of very high-quality blue diamonds,” Petra CEO Richard Duffy. Read More
Art deco jewels lead Bonhams auction - An aquamarine and diamond necklace by Cartier will lead the sale of a selection of Art Deco jewels at Bonhams next month. The piece, dated from 1940, is set to go under the hammer estimated at GBP 100,000 to GBP 150,000 ($128,290 to $192,435), along with a pair of matching earrings created by the jeweler in 1935. Read More
Barrick Gold sells half of Kalgoorlie Consolidated Gold Mines for $750 million - Canada’s Barrick Gold (TSX:ABX)(NYSE:GOLD), the world’s second largest producer of the yellow metal, reached an agreement to sell its 50% interest in Kalgoorlie Consolidated Gold Mines in Western Australia to Saracen Mineral Holdings (ASX:SAR). Read More
11.11 Shopping festival generates $12 billion in opening hour - The 11.11 Global Shopping Festival kicked off at midnight in China and generated $1 billion in the first minute and eight seconds. By the first hour, that number had shot up to $12 billion, reports Alibaba Group Holding Limited. Read More
De Beers sightholders embracing synthetics - Few in the diamond industry were surprised by the news that Rosy Blue chief Dilip Mehta had launched an independent lab-grown business. It’s been an open secret for months that major manufacturers of natural diamonds have been exploring the sector, Rosy Blue being just one of them. Read More
Richemont weathers Hong Kong storm - Jewelry sales at Richemont increased 8% in the first fiscal half, even as the company faced a challenging market in Hong Kong. Jewelry proceeds at Cartier and Van Cleef & Arpels rose to EUR 3.74 billion ($4.12 billion) in the six months ending September 30, while watch sales grew 1% to EUR 1.57 billion ($1.73 billion). Read More
New species of mineral discovered in Myanmar - In the gem world, new discoveries are not that common. Recently, however, researchers from GIA, in collaboration with scientists from the California Institute of Technology, have confirmed a new mineral species, which they have named "johnkoivulaite." in honor of John Koivula. Read More
Gucci debuts high jewelry collection at Place Vendome - Gucci recently launched its first-ever line of high jewellery and it is a kaleidoscope of dazzling, colorful gemstones. Designed by the creative director Alessandro Michele, the Hortus Deliciarum collection comprises 200 pieces of jewelry, made in Italy.
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Brooching the Subject - The brooch has been enjoying renewed interest over the last few years. From its utilitarian roots in the Bronze Age to today’s beautiful designs in precious gems, the brooch has seen its popularity rise and fall. Today, though, we can definitely say it is worth brooching the subject of this form of adornment. Read More
Report on Thailand by Henry Ho - Thailand continues to rise as a leading international player in the world of colored gemstones. The recent announcement of various trade events in Bangkok certainly suggests demand for colored gemstones will rise over the coming months. For instance, we begin to see a growing demand from multinational companies looking to expand into the Asian market in Thailand. Read More
AIGS to organize a cultural trip to Mogok, Myanmar. After the ICA Congress in Bangkok, October 12-15, the AIGS is organizing a five-day cultural and mining tour of Mogok, home of the the famous Burmese rubies and sapphires. For more information or to register, Click Here.
"Mogok - The Valley of Precious Stones" is now on sale - Connoisseurs of gemstones and gemology know Mogok as the mythical valley of precious stones "lost in the mountain of the Shah country." A few years ago, as a tribute to the famous Burmese valley, Kennedy Ho, Chairman of the AIGS, began a project for this book with a team of renowned gemologists and scientists. To learn about purchasing a copy, Read More.
AIGS warns international trade about fake gem reports - The Asian Institute of Gemological Sciences (AIGS), one of the world's leading gemological laboratories, has identified gemstone reports bearing the AIGS logo. "We have found out that some people made fake reports with a working QR code," said AIGS Chairman, Kennedy Ho. Read More
