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The current malaise in the diamond industry is serious, but it will pass, De Beers Group chief executive officer Bruce Cleaver (pictured) tells JCKfollowing the recent release of the company’s financial results.
The Fancy Color Research Foundation (FCRF) reported that for the second quarter of the year the Fancy Color Diamond Index (FCDI) indicated a decrease of 0.1 percent in overall prices of fancy color diamonds.
Diamond exporters will be allowed to ship goods out of India for trade shows or consignment without paying goods and services (GST) tax, the government has announced.
De Beers Group just got a little help from the Canadian government in its quest to come up with a way to make diamond mining carbon neutral.
This week, Russian diamond miner Alrosa announced that it had signed a joint venture agreement to explore for diamonds in the Chimanimani area of Zimbabwe.
De Beers has lowered its production forecast for this year, noting that weakness in the diamond trade negatively affected its performance in the second quarter.
LVMH reported double-digit revenue growth in its first-half results, boosted in part by a strong performance from its watches and jewelry division.
Swatch Group reported a dip in sales in its half-year results Wednesday but said its crackdown on gray market sales should lead to an uptick in the second half of the year.
Luxury conglomerate Richemont reported strong sales growth in its first-quarter results, but a slowdown in watch sales somewhat dulled its shine.
Sales at Richemont’s jewelry brands increased 10% in the first fiscal quarter, as lower value-added tax and customs duties drove purchases in mainland China, the luxury retailer said Thursday.
LVMH has bought a minority stake in the Stella McCartney brand, a year after the designer’s split with rival luxury conglomerate Kering.
There’s a lot to like about the Los Angeles–based brand La Californienne, which recasts classic vintage Cartier and Rolex watches as something magnificently bright, colorful, and fun, each creation as whimsical, and richly detailed, as a carousel pony.