LVMH announced that it is backing out of its agreement to buy Tiffany & Co., and the retailer is not happy about it.
Press release – ALROSA reports its diamond sales results for August and eight months of 2020.
The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.
Global diamond production sank 6.9% in 2019, the deepest plunge in a decade. By value, production dropped 6.2%. There were good reasons for this, and our updated production forecast calls for an even more significant slide in 2020.
The diamond business has continued to absorb the repercussions of the global pandemic. Polished diamond wholesale prices, after a small improvement in June, continued to mostly slide in July. This coincides with an ongoing decline in jewelry share of wallet.
This week, Eira Thomas, CEO of Lucara Diamond, owner of the Karowe mine in Botswana, sent an open letter to the diamond industry promoting Clara, the sales perform that Lucara purchased two years ago.
Tiffany & Co. continued to feel the fallout from COVID-19, as its sales in mainland China rose dramatically during its second quarter (ended July 31), while sales in the Americas region continued to fall.
Diamonds will be getting some advertising love this fall.
The Gemological Institute of America is expanding its now four-year-old Melee Analysis Service to include small fancy-shaped diamonds.
Press release – De Beers Group’s third Diamond Insight ‘Flash’ report explores opportunities for diamonds as consumers reallocate discretionary spend.
Gem Diamonds has unearthed a 442-carat Type II stone, reckoned to be worth $18m, at its Letšeng mine, in Lesotho.
Press release – Almazy Anabara (Diamonds of Anabar), a part of ALROSA Group, found a 236-ct rough diamond of intense yellow-brown color. The diamond was extracted from the Ebelyakh mine in Yakutia, Russia. This is the largest natural color rough diamond ever found in Russia.