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The De Beers Group has published its first results for 2024 and its outlook for 2025. Group sales in 2024 were $3.3 billion, down 23% on 2023. Volume sales were down 28% on 2023, despite a 3% increase in average prices, reflecting the resilience of higher-value stones. Value sales were down 25%. Diamond production in […]
The US jewelry market was on a roller coaster ride in 2024. While overall sales rose, key components underperformed. Natural diamonds lost some of their sparkle, but those that did opt for them were willing to dig deep into their pockets and pay more. That was not the only departure from Econ 101 mainstays. Demand […]
The pair will work together to support independent retailers in India with marketing assets, training materials, and other tools. De Beers Group and the Gem & Jewellery Export Promotion Council have partnered to promote natural diamonds in India. From left to right are Paul Rowley, executive vice president of diamond trading at De Beers Group; […]
Lab-grown diamond companies are marketing their products in ways that could damage consumer confidence in the overall industry, World Jewellery Confederation (CIBJO) president Gaetano Cavalieri said during a keynote address to the 2024 Global Gems & Jewelry Development Conference last month in Hainan, China. “The early decision to benchmark laboratory-grown diamond prices against the price of natural diamonds…proved […]
Revenue at Richemont’s jewelry brands grew in the third fiscal quarter amid a resurgence of demand in all regions, primarily the Americas and Europe. Sales at Cartier, Van Cleef & Arpels, Buccellati, and Vhernier climbed 14% year on year to EUR 4.5 billion ($4.63 billion) for the three months that ended December 31, the Swiss […]
These sleuths of the jewelry world play an important role in the trade. Experts in the field share their experiences and wisdom. Appraisers are the behind-the-scenes enforcers of responsible jewelry stewardship, from the intangible aspects like discretion and reputation, to the quantifiable ones like fair market value and retail replacement value assessments. These cool-headed sleuths […]
The outgoing year was clearly a particularly challenging one. It required diamond industry companies to reconsider their future and created an opportunity to pivot towards reinventing diamonds as a true luxury item. The coming year should be the year of realignment. in 2024, the diamond industry, from producing countries to retailers, was rattled in 2024. […]
“Beyond these chaotic rocks and ramparts that make up the citadel, and which silently descend all the way down, the outer wall of the city – the crenellated wall maintained by the Nizam – snakes off into the distance as it continues to draw the outlines of what was Golconda, Golconda of the marvelous diamonds.” […]
In a podcast released at the beginning of 2025, Rapaport Senior Analyst Joshua Freedman analyses the challenges and expectations of the diamond market. 2024 was a year of challenges for the diamond sector, with one of the main issues being inventory management. Despite the reduction in purchases following the 2023 crisis, stocks remain at far […]
With their slender, graceful shape, marquise-cut diamonds are distinguished by their discreet sophistication, while connoisseurs appreciate them for their elegance. In high jewelry, the marquise cut – often combined with the pear cut – adds an undeniably lightweight touch. It has left its mark on jewelry history, but the way it is worn has evolved […]
Environmental protection has become a major concern, but there is another equally essential one: the development, well-being and empowerment of the local populations who help create company wealth. In the diamond sector, GemFair ™ – an inclusive program set up by the De Beers Group in 2018 – is on this eco-responsible trajectory. Its aim […]
US jewelry sales experienced a 2.5% increase in November, driven by a 4.6% year-over-year rise in the average expenditure per item by consumers. This uptick in jewelry expenditure is part of a trend indicating a turnaround in US demand for fine jewelry. So far this year, sales have increased almost every month, as did consumers’ […]