10 Questions with De Beers CEO Bruce Cleaver
Late last month, leaders of the gem and jewelry industry in India called on their members to pause rough diamond imports for 30 days, starting today, as the world continues to grapple with COVID-19.
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Richemont’s jewelry sales resilient in a rough Q4
Richemont posted a double-digit drop in fourth-quarter sales as the COVID-19 pandemic took its toll, but said better days may lie ahead as it notes strong demand at its reopened boutiques in China.
Luxury market to contract up to 35% in 2020 – Bain
Sales of luxury goods will fall by 20% to 35% this year as the coronavirus-related slowdown is set to continue, Bain & Company predicted.
Lucapa unearths 171ct. rough at Lulo
Lucapa Diamond Company has recovered a 171-carat, gem-quality diamond from its Lulo alluvial mine in Angola.
De Beers launches online rough-sales platform
De Beers has launched an e-commerce site that lets clients buy rough on demand, creating an opportunity for sales during the weak market.
Baselworld cancels 2021 show, adjusts refunds for 2020
MCH Group, organizer of the Baselworld watch and jewelry trade show, announced two developments concerning the 2020 and 2021 shows.
De Beers suspends applications for sight contracts
De Beers has paused the application process for its new sightholder contract due to the impact of COVID-19 on its clients’ business operations.
Tiffany launches new collection during quarantine
While all Tiffany & Co. stores in North America may be closed due to the global coronavirus pandemic, that doesn’t mean an end to new jewelry.
Extraordinary times require courage
The diamond industry, from mine to retail, is facing new challenges that are rocking it to its core. Retail stores around the world are closed and that reverberated up the diamond pipeline, bringing wholesaling activity, jewelry manufacturing, diamond polishing, and diamond mining to a complete standstill.
Don’t ban rough buying, De Beers urges
De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market.
Cartier ‘Tutti Frutti’ bracelet sets online jewelry auction record
If one recent auction is any indication, the desire for luxury jewelry items is alive and well.
Rough market faces its toughest year yet
As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium on rough buying. Ultimately, it helped the local trade realign inventory and gain market share while other manufacturing […]
