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Even as China’s luxury market growth re-emerges into positive territory after two years of recession, 2016 marks the first time in history that Chinese consumers contributed less to global luxury sales than they did the year before, according to Bain & Company’s annual industry “Bain Luxury Study” report.
What is the volume of diamonds American specialty jewelry retailers sell every year? Are there pockets of opportunity within items that are losing favor? And how many lab-grown goods are really selling? More importantly, what is the sales pattern and trend?
The participants of the Kimberley Process (KP) established in 2000 in Kimberley at the initiative of South Africa, Botswana and Namibia are diamond producing and diamond importing countries, which pursue the aim to prevent trading in the so-called “conflict diamonds“
The Hong Kong Jewellery & Gem Fair set an improved tone for the diamond market despite challenging conditions in the Far East.
The release in August by Tiffany & Co. of its sixth annual Sustainability Report outlining the company’s corporate social responsibility work, commitment to the environment, and contributions to the communities
Summer is the most boring time for a diamond journalist. There is virtually no news in our market at this time of the year. Especially now, as all major players have already said that they do not expect changes in the market before the end of the year.
Rough diamond trading was surprisingly buoyant in April given that polished demand is restrained and inventory levels continue to rise.
Trading on the world diamond market is slowing down after a very successful first quarter. However, this slowdown is not a reason for pessimism.
“We maintain a cautious view of this year. Although the first two months of 2016 were stronger, this was primarily due to the marketing policy pursued by the company, which we carried out in relation to customers and the market in the 2nd half of 2016.”
The Hong Kong show that ended March 7 revealed a diamond industry that is focused on the very short term. Dealers who spoke with Rapaport News were relatively upbeat about the exhibition, but uncertain of market developments in two-to-three months.
Fine jewelry sales in the US posted a rise in November, and there are signs that December was alright too. In the last couple of weeks of December, Mumbai diamond traders had a sudden rise in sales, both from the US and China, leading to a burst of optimism that drove demand for Sight goods.
The diamond industry has a lot riding on the Chinese New Year season and recent events in Shanghai have done little to inspire confidence. As stocks plummeted and the Renminbi depreciated against the dollar, fresh concerns rose about China’s growth prospects, its impact on the global economy and on the diamond and jewelry trade.