The R&M “Lettre”

2Q operations update. ALROSA sold 18 million carats of rough diamonds for $2.1 billion in the first half of 2015, representing a significant decline from a year earlier.

Of course, you cannot believe everything you read in the papers, and what you see on television is just as likely to be based on myth as reality, which is why I probably shouldn’t recommend that people turn to the British TV series Mr. Selfridge for retailing tips…but I am going to anyway.

The De Beers July sight closed with an estimated value of $200 million with the amount of goods left on the table estimated to have exceeded 65 percent of the initial sight value. De Beers reportedly kept overall diamond prices and assortment quality stable.

Hallmarking, long used in precious metals, is being promoted as a means to differentiate diamond production as plans for industry-wide chain of custody standards are on hold.

The closure of an Indian manufacturer and the large debts it left behind is probably the most important news of this week, followed by the trade show in Hong Kong. 

HRD Antwerp has added a report to its website about its discovery of (near-) colorless lab-grown diamonds featuring octahedral and other “natural” shapes.

The Kering Group appointed Hélène Poulit-Duquesne as the CEO of Boucheron, with an effective date of September 28. She will report to Albert Bensoussan, the CEO of Kering’s luxury, watches and jewelry division.

De Beers will allow sightholders to defer as much as 25 percent of their supply at next week’s sight as rough diamond sales continue to slide.

At the latest President’s Meeting in Tel Aviv, Israel, the trade once again cast a weary eye toward Martin Rapaport’s price list and the outsize influence it commands.

The diamond industry keeps facing hardships that call for a serious bailout plan, and diamond mining companies are starting to respond to the crisis with measures that will provide relief, albeit temporary.

It’s already a major offshore financial center, but the Cayman Islands could also become home to an important diamond exchange, according to World Federation of Diamond Bourses president Ernie Blom.

Rio Tinto launched an online portal for its “Diamonds with a Story” initiative, featuring information that is meant to help manufacturers, designers and retailers stay on top of marketplace trends.