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De Beers is considering a range of possibilities as it ponders the future of its Forevermark diamond brand, chief financial officer Sarah Kuijlaars tells JCK following the release of the company’s 2022 financial results.
The bridal sector hopes the momentum will last following the busiest year for nuptials in almost four decades.
Sarine Technologies’ sales fell last year as the diamond market’s global slowdown led to a reduction in polished manufacturing at Indian factories.
Experts and Editor-in-Chief Michelle Graff share views on natural diamond prices, lab-grown supply, and diamond jewelry sales in 2023.
In part 2 of our exit interview with De Beers CEO Bruce Cleaver, he reviews the big events of his tenure, from Nirav Modi’s implosion to the COVID-19 pandemic to De Beers’ still-controversial introduction of lab-grown brand Lightbox.
The diamond market has yet to feel the full effect of the war in Ukraine. Initial predictions pointed to a potential supply shortage that would result from having Alrosa, with its large share of global rough production, off the market. However, those scarcities have not emerged significantly.
In two weeks [February 20], Bruce Cleaver will step down as De Beers CEO, after six years in the role. His replacement will be energy executive Al Cook.
The bloc is considering a quota or other restrictions on Russian diamonds. Industry members and politicians claim only a global effort will have an impact.
US retail sales saw slower-than-expected growth during the recent holiday season amid inflation and high interest rates, according to the National Retail Federation (NRF).
De Beers has made sharp price changes at this week’s sight, implementing deep reductions in larger goods and increases for smaller stones.
Industry insiders share their New Year predictions and plans for the new year.
The luxury market could grow by up to 8% this year as the industry is well positioned to weather difficult economic conditions, Bain & Company said.
