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Press Release – Stressing that consensus may take some time to achieve, Gilllian Milovanovic, the chair of the Kimberley Process (KP), says a new definition needs to bring the industry sustained improvement not destabilization.
The global diamond industry’s single biggest problem is that it is not growing consumer demand, according to speakers at the 35th World Diamond Congress convening in Mumbai this week. That is followed by the industry’s lack of profitability and the need to establish a regular supply of rough.
With their Diamond Trading Company (DTC) boxes in one hand and Philippe Mellier’s letter in the other, sightholders appeared more interested in their rough allocations at last week’s sight than what the De Beers chief executive had to say.
De Beers sold an estimated $750 million worth of rough diamonds at the Diamond Trading Company (DTC) October sight this past week, while maintaining prices relatively stable.
Diamonds are touted as the ultimate symbol of love – beautiful, everlasting and precious. A cynic may add rare to this list. From “A diamond is forever,” to “Every kiss begins with Kay,” the association with love has always been a key component of marketing diamonds. This association is so strong that diamond traders – […]
Generic (or industry-wide) advertising is one of the effective ways to increase the demand for and consumption of certain goods. The role of chief promoter in the diamond industry was played by De Beers Group whose slogan “A diamond is forever” can be called one of the most successful in history. Does the industry need […]
A local TV gossip program has a section called “So True/Totally Not.” In it, they confirm or refute gossip stories about celebrities. I was reminded of the segment because we keep getting questions about the report of a mega-diamond resource supposedly found in Russia’s frozen Siberia region. It is interesting, and occasionally sad, to see […]
After having been almost scrapped in 2007, De Beers’ secondary market seller Diamdel underwent profound renovation when the company decided to transform it in an online auction sale program.
Press release “Dear Sightholder, For an industry that historically evolved slowly, the past several years have seen unprecedented change at an extraordinary pace. A volatile global economy, shifting consumer demographics, new technological innovations, and increased challenges in accessing supply, are forcing all of us to adapt and evolve.
You can show a lot of things, but not buy them all. China is a rapidly growing consumer market with a huge desire to be involved at all levels of the diamond trade, willing to cooperate with everyone, and the Hong Kong Exhibition turned into a kind of indicator to determine the situation and mood […]
De Beers is talking up the market and downplaying its production, as one expects it needs to do in the current economic environment. And it is not alone, as other miners follow suit.
The September Hong Kong Jewellery & Gem Fair closed without providing the kind of high demands for loose diamonds that everyone had secretly hoped for. So what did happen at the show, and why was demand lower than anticipated? Traders arrived at the fair knowing exactly what they wanted to buy, with almost no one […]