The R&M “Lettre”

Geneva – Richemont reported strong sales growth among its jewelry brands in the first half of the year, noting that jewelry now accounts for one-third of its total sales.

De Beers recorded one of its smallest ever contract sales in November as last week’s sight closed with an estimated value of $70 million. The rough diamond supplier kept prices stable and enabled extra flexibility due to the slump in sightholder demand.

Third quarter prices for blue diamonds were up 2 percent, with fancy vivid blue prices up 6 percent.

Milan, Italy – The global luxury industry has surpassed $1 trillion in retail sales value this year, with the category that includes jewelry and watches seeing slight but positive real growth.

Even today, with all the hype about e-commerce, most jewelry is still purchased in brick-and-mortar stores. In a 2014 Deloitte survey, 52 percent of consumer said they preferred to purchase jewelry at stores, 8 percent said online, but 40 percent were undecided.

Last week, I attended an event held by De Beers/Forevermark here in New York City called (and hash-tagged, naturally) #TheOne, which references the diamond brand’s new holiday commercial (It’s a Long Journey to Become the One) and, with it, the return of “A Diamond is Forever.”

New York – Ahead of its annual fashion show, Victoria’s Secret has unveiled its annual “Fantasy Bra,” again created in collaboration with jeweler Mouawad.

Expects manufacturing recovery in 2H 2016. Rough diamond prices need to come down by 15 percent but the market needs to stabilize first, Maxim Shkadov, president of the International Diamond Manufacturers Association (IDMA) told Rapaport News.

A quick note before Sight 9 – it’s going to be small, but it will take place. De Beers is adapting to the market, or as some may say, they are playing it by ear. The company is trying to meet the changing needs of its clients. Sadly, these changing needs seem mostly like detrition.

Black Friday, the day after Thanksgiving, is anticipated to be the busiest shopping day in 2015 both in terms of shopper numbers and total sales, according to analytics company ShopperTrak.

Everyone agrees: The diamond market, and the way diamonds are sold, is a mess. The system has broken down. While producers continue to post strong profits, manufacturers’ margins have been whittled down to nothing, and the middle market’s woes have brought the industry to a crisis point.

In September 2015, the House of Chaumet opened its Pop-up Museum. The museum sits alongside the brand’s store in Place Vendôme, Paris, and invites us to wander both through their rural creations and their history.