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The middle of the diamond distribution chain is struggling to align itself with new, lower levels of wholesale demand. The result is that manufacturers and polished diamond dealers continue to be squeezed despite growth in consumer demand.
Last week, De Beers released a survey of the global diamond market that showed that U.S. diamond sales increased some 7 percent in 2014.
Wedding resource site The Knot published its annual Real Weddings Study this week and it makes for some fascinating reading, as well as providing some good news for jewelers.
Graff Diamonds once again made a splash at Baselworld, introducing a $40 million watch topped with a 38 ct. D Flawless that can be converted to a bracelet or ring.
In 2009, the leading diamond producers convened in St. Petersburg, Russia, at the behest of the then-president of Alrosa, to discuss a joint promotional effort called the International Diamond Board.
Press release – The Dubai Diamond Exchange (DDE), a Dubai Multi-Commodities Centre (DMCC)platform, announced that leading mining executives will be presenting at the second Dubai Diamond Conference.
Is the industry at long last getting its act together and creating an effective organization that will promote the diamond sector and act as a unified body?
The diamond mining companies need to play their part to ensure profitability throughout the distribution chain. Therefore, the trade should be encouraged that a meeting of the top eight miners took place this month to discuss some of the industry’s most pressing challenges.
The World Federation of Diamond Bourses (WFDB) completed a two-day meeting of the executive committee and Asia-Pacific presidents’ summit in Shanghai, having addressed a range of “crucial issues affecting the global diamond industry,” according to WFDB’s president, Ernie Blom.
Executives from eight of the largest diamond mining companies met recently to explore the establishment of an association that will promote diamonds as a consumer product.
The March Hong Kong show that took place this week was not a game changer for the diamond industry. If anything, the show signaled business as usual, which lately, hasn’t been great, and trading just about met dealers’ low expectations.
Varda Shine, the former CEO of the DTC, has joined platinum company Lonmin Plc as a non-executive director.