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The Indian diamond industry is facing an uncertain future with multiple challenges to tackle simultaneously. When diamond mining major De Beers reported the sale of $545 mln worth of rough diamonds in the first sales cycle of this year after a difficult 2019, it was an indication that the industry is on a recovery path.
De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system.
Edward Asscher has retired as president of Royal Asscher, marking his 50th anniversary with the family-run jeweler. His daughter, Lita Asscher and son, Mike Asscher, will take his place as copresidents of the company.
Sales climbed 9 percent in 2019 for Lucara Diamond Corp. and it again recovered more than 30 stones weighing more than 100 carats from its Karowe mine in Botswana.
Baselworld has called off this year’s fair after Swiss authorities banned large-scale events because of the coronavirus.
US retail sales will grow 3.5% to 4.1% this year, despite trade tensions and the spreading coronavirus epidemic, according to the National Retail Federation (NRF).
De Beers has allowed clients to forgo buying certain rough diamonds at the week’s of 24 February sight, as the coronavirus outbreak has raised concerns about a polished glut.
Women are being urged to treat themselves to a piece of jewelry.
Press release – ALROSA met in Antwerp with its long-term clients and representatives of the Antwerp World Diamond Center (AWDC) to discuss the current market situation and potential scenarios, as well as the needs of rough diamond buyers – the key issue for whom was to receive assurances of purchasing flexibility.
One well-known sustainability champion recently visited the diamond communities in Botswana and documented her journey.
Gemological Science International (GSI) is urging extra diligence after receiving a lab-grown diamond bearing a treatment generally only found in natural stones.
One could see the “green” trend had truly blossomed in the jewelry industry at the Inhorgenta Munich show, which ran Feb. 14–17. Booth after booth boasted of their socially responsible bona fides. A Future of Retail pavilion included a series of sessions devoted solely to sustainability.
