Richemont full-year profit doubles as jewelry sales climb
Luxury titan Richemont reported double-digit sales growth in the US and China in its annual results, buoyed by a strong performance from the jewelry sector.
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LVMH debuts Blockchain tracking system for luxury goods
Global luxury powerhouse LVMH is one of the guiding forces behind Aura, a new blockchain platform that will let luxury brands, as well as the people who buy them, track their products from raw materials to point of sale, even if they are sold secondhand.
GIA spots natural-synthetic hybrid diamond
The Gemological Institute of America (GIA) has discovered a synthetic layer that improved the weight and color of a natural diamond, and has warned that the phenomenon may be happening more often.
De Beers to build $468M diamond-mining ship
De Beers will increase production at Debmarine Namibia by 500,000 carats per year through the construction of a new diamond-recovery vessel, it said Thursday.
Jewelry likely to be hit with tariffs in Trump trade war
While in the past, jewelry products have, with few exceptions, not been subject to tariffs in President Trump’s rapidly escalating trade war with China, that may change.
LVMH teams with singer Rihanna for new luxury line
LVMH and singer Rhianna are launching a new luxury brand, Fenty, a rare new maison from the luxury giant.
So how much do we spend on jewelry and watches?
Here’s a question to ponder: How much does the average US household spend on jewelry and watches per year? Does this spending differ by age group and, if so, by how much? Knowing how much different demographic groups spend can be very valuable to a business.
Colored diamond prices fail to excite in first quarter
The Fancy Color Research Foundation (FCRF) concluded today the results of the Fancy Color Diamond Index’ first quarter of 2019.
Starting from 2022 synthetic diamonds are to be marked with special codes
Russia’s ministry of finance. To prevent the penetration of synthetic stones into the market of natural diamonds, the natural stones industry needs to support initiatives to classify synthetic diamond products for customs clearance under separate product codes.
De Beers scaling up Tracr ahead of formal launch
De Beers tracked 100 high-value diamonds along the value chain during the pilot of Tracr™, its industry blockchain platform, for the first time in May last year.
Do the 4Cs still make the grade?
Renée Newman, author of a guide for the diamond trade, proposes a fifth C and two Ts.
Diamond prices soften despite US stability
Polished-diamond prices declined in April due to continued oversupply and selective Far East demand. US jewelry sales remain firm, helping to support the global trade.