There is a lot of discussion about responsibility, honesty and the big issues ahead in this first Lettre of March!
Let’s start with the article by Michelle Graff of the National Jeweler, which endeavors to provide reliable predictions for the diamond industry. She sheds light on the demand for natural diamonds, which could increase further this year, with new pressure expected on both procurement and prices.
The article also confirms the growing importance of brands and the justified environmental concerns for Gen Z and this ever-increasing trend among female – and male consumers – to “buy for themselves.”
At a time when new sanctions and restrictions on Russian diamonds are almost certainly expected, Rapaport’s in-depth feature takes us back to the history and operations of ALROSA and the impact of this never-ending war on global diamond procurement.
We all know that traceability is and will remain central to our concerns*…
We also talk a lot about lab-grown diamonds in this Lettre! Firstly, in the second part of the interview with Bruce Cleaver, who explains why De Beers, whose importance to the natural diamond industry is well known, embarked on the Lightbox adventure, which almost made its CEO break into a cold sweat.
But the issue of lab-grown – and natural – diamonds is also addressed through the lens of liability and terminology. What are your thoughts? Are lab-grown diamonds mining-free?
Finally, we welcome the launch of the WJI 2030 SDG 2030 Solutions Lab Small Medium Enterprise (SME) project, in collaboration with the UN Global Compact. This is a key, fundamental project, when you realize that the global jewelry and watchmaking sector is mainly composed of SMEs and they are in dire need of a concrete toolkit, with practical solutions and qualitative information on innovation, technology, inclusions and due diligence to launch their sustainable development programs and efforts.
Happy reading and enjoy your week
Source Rubel & Ménasché
* If you have some time, I would like to suggest that you also reread this article from April 2021, reposted on our site and which already asked the right questions: The importance of inclusiveness in diamond traceability