In our Lettre this week, we take our fill of the news and hot topics currently affecting our industry: ethics and CSR with BIPOC designers; the latest news from the major institutions such as the RJC; marketing or jewelry trends from the NDC to Tiffany & Co.; innovations in the GIA’s certification methods, etc.
And, of course, we talk about two key issues for the diamond industry: rough and polished prices; and the boom in lab-grown diamonds!
We still have plenty of questions about prices, this is a major trend which will undoubtedly continue to concern us in 2022. Everyone is looking closely at them, speculating and wondering how to adjust their supply or needs to the market.
For example, De Beers has raised its prices for small rough diamonds by around 10% to adjust its current market supply and, out of the fear of shortage, the demand for small polished diamonds is increasing. The demand for diamond jewelry is still strong, even if unsurprisingly, in its analysis, Edahn Golan announced the start of a decline on the American market in May.
So, what of lab-grown diamonds? Do we really still need to talk about them?! It would seem so. They are in the process of turning a corner that we did not expect to happen so soon, as they are now popular or at least their market share is still growing. Does this mean that they will outsell natural diamonds in certain categories? We’ll have to wait and see… But they are becoming more attractive, the budget devoted to them is growing and they have become a tempting option for engagement rings.
Whatever the case, while there is nothing to worry about, it would be good to keep it in mind and be prepared, by always thinking about the added value of natural diamonds and adapting our sales arguments. We should remember that two major players, De Beers and LVMH*, already have “one foot in the door…”
Happy reading and enjoy your week
Source Rubel & Ménasché
* Via its joint venture, LVMH invested in Lusix.Dear readers,