The Diamond Market : Between Transformation and Resilience

Isabelle Hossenlopp

Dear readers,
In this new issue, we’re inviting you to dig into Rubel & Ménasché’s recently published 2023 CSR Report. Responsibility and transparency remain the watchwords of the solid strategy to which Rubel & Ménasché, its teams and its external partners have committed.

De Beers has published an in-depth analytical report of the Chinese diamond market – the world’s second largest after the US – using graphs, figures and analyses to examine the expectations of Gen Z and UHNWI, scrutinize different styles and diamond desirability, while assessing ethical concerns.
The diamond market is experiencing turbulence, with the price of diamonds continuing to fall and production outstripping demand. Against this backdrop, mining company ALROSA has decided to suspend its exports of rough diamonds in September and October, officially with a view to cleaning up the market.
The ineffectiveness of sanctions against Russian diamonds has reignited the debate on traceability and responsibility, prompting the RJC to review its procedures and the World Diamond Council to reiterate its position in a speech delivered by its new President Feriel Zerouki. The WDC has also put forward proposals to better control the access to market of Russian diamonds.
Synthetic diamonds are being given a major publicity boost with the launch of FRED luxury jewelry pieces featuring blue synthetic diamonds. LVMH has consequently crossed what the Place Vendôme brands still consider a red line.
Conversely, De Beers is discontinuing its synthetic diamond bridal collections, an initiative it had always presented as a simple trial. The mining group has also announced it is investing $20 million in campaigns to promote natural diamonds.
Written by his own son, Harry Winston’s biography has just been published, as we take the opportunity to look back on the life of a diamond legend through an interview with the author.
Is stone-cutting an art ? This is the question Kate Matthams asks on behalf of magazine Rapaport.
What are the future trends?
Should we be adopting a new ‘quiet’ diamond’ style? It’s a trend that’s inspiring ever more collections.
What are the major trends shaping the luxury industry of the near future? In a study by Bain & Company, Mathilde Haemmerlé assesses the outlook for the luxury goods market, including her thoughts on AI as a potential “game changer”. 

We hope you enjoy reading !