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In our security-dominated lifestyle, where completing a simple transaction usually requires a username and password, facial recognition, or some other form of technology, it is almost refreshing to see that the memo — a practice nearly as old as the jewelry industry itself — is alive and well.
While De Beers—and the jewelry industry as a whole—have enjoyed a strong first half of 2022, the company feels a lot more cautious about the second half, CEO Bruce Cleaver told JCK in an interview Friday [July 29], a day after the release of De Beers’ first-half financial results.
Depending on which sales measurement service you consult, July’s jewelry sales either continued the industry’s unprecedented hot streak or showed that its amazing two-year run was cooling off.
Jewelry sales boasted an impressive performance in the first half of 2022. Sales rose nearly across the board – a particularly impressive act against the excellent performance of 2021. However, as the months went by, sales deteriorated until they fell behind in June.
The De Beers Group has appointed industry veteran Ivette Nersesyan-Stephanopoulos as the company’s vice president of code of origin and trade services for North America.
Retail has shifted since the start of Covid-19, and the drive toward digital has become more pronounced. Some 90% of jewelry retailers now have online platforms, according to Bain & Company’s Global Diamond Industry 2021–22 report. “The pandemic rapidly accelerated e-commerce, even for independent US retailers,” it states.
The European Union should ban Russian diamonds in its next sanctions package, German nonprofit Transparency International said the [week of July 4] in an open letter to officials.
The US, UK, Canada and Japan have placed sanctions on the import of Russian gold in an effort to eliminate revenue used to fund President Vladimir Putin’s war on Ukraine.
The Natural Diamond Council (NDC) is facing a massive budget cut in 2023 unless the industry steps in to compensate for the loss of Alrosa’s financial contribution, CEO David Kellie told Rapaport News.
It’s impossible for me to objectively review Nothing Lasts Forever, the flashy new diamond documentary that will air this fall on Showtime. It’s full of people I know, conferences I’ve been to, and subjects I’ve spent decades writing about. There’s even a brief shot of me at one event, looking bored.
In what’s considered a sign of a “new generation” taking over Antwerp’s leadership, David Gotlib has been appointed the new president of Antwerp World Diamond Centre (AWDC).
The diamond industry is undergoing fundamental disruption as political, economic and social forces break the supply chain, reduce demand, and shift consumer attitudes. We are heading into a perfect storm with new realities, challenges, and opportunities.
