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Interview with Stephen Lussier and David Prager. The diamond industry will need to tweak its messaging to emphasize the values its product and brands represent, De Beers executives stressed in the Rapaport Diamond Podcast.
De Beers has reduced its full-year production guidance by 7 million carats, putting the miner on course for its lowest output since 2009.
India’s leading diamond-trade organizations have called on members to stop importing rough for at least a month to prevent an oversupply and ensure banks maintain their credit to the sector.
Stuart Brown, the ex-joint managing director of De Beers, and current CEO of Canadian miner Mountain Province Diamonds, made an amazing statement in a Financial Times article, stating the very obvious: “We need India to open up. Until the manufacturing opens up there, there will be no demand for rough diamonds.”
A rough diamond changes hands at least five times before it reaches the cutting wheel, an industry veteran explained to my amazement when I first started writing about the market. A polished stone is traded even more often before being set into a piece of jewelry, he continued.
Due to the COVID-19 pandemic, for the first time since its inception in 2015, the Fancy Color Research Foundation (FCRF) will not publish the Fancy Color Diamond Index (FCDI) for Q1 2020.
The World Federation of Diamond Bourses (WFDB) has named Yoram Dvash as acting president following Ernie Blom’s decision to stand down temporarily.
The Hong Kong Trade Development Council (HKTDC) has rescheduled its trade shows for the second time as coronavirus-related restrictions continue.
Chow Tai Fook’s sales slid in the fourth fiscal quarter amid sluggish consumer demand and store closures brought on by the coronavirus pandemic.
In the coming weeks, MCH Group will decide whether Baselworld—once the annual event for the global watch industry—has a future, or if it is out of time.
At the end of March, when most of the world was going into coronavirus lockdown, China was slowly emerging from it.
We have now been in lockdown in France for more than a month. It is more or less the same for everybody in the diamond industry. Although work and life may have been organized, there are still lots of questions about how to do things on day-to-day basis, how to hold out, and how to […]
