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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.
With banks still skittish about lending to the industry, ABN Amro’s diamond and jewelry division, generally considered the industry’s largest lender, has launched a “borrowing base verification program,”
U.S. online jewelry sales have increased rapidly in recent years, but observers note that thin profit margins and consumers’ reluctance to buy jewelry online have prevented the Internet from becoming a major sales channel for jewelers.
New York – The Diamond Empowerment Fund again will hold its Diamonds in the Sky Gala during Las Vegas market week this year, this time honoring Prime Minister Narendra Modi of India.
Okay, so I know you’ve heard about Lady Gaga’s heart-shape engagement ring designed by Lorraine Schwartz.
Sotheby’s calls it the Ultimate Emerald-Cut Diamond—and it’s hard to argue. The famed auctioneer will offer a 100.2 ct. D internally flawless emerald cut at its April 21 Magnificent Jewels sale in New York City.
De Beers announced its profits soared more than 33 percent over the past year — a number that may rankle its customers who complain they are losing money on their sight boxes.
Valentine’s Day exposes both the weaknesses and strengths of the diamond and jewelry market. For a product so driven by the idea of commitment and relationships, the holiday should be a coup for the industry, a second Christmas if you like.