The third episode of the monthly Diamond Dudes podcast, bringing together three leading industry experts—Avi Krawitz, Edahn Golan and Rob Bates—has just been released, offering an insightful analysis of JCK Las Vegas, the annual flagship event for the jewellery and gemstone industry.
What are the key takeaways? In the podcast (link below), the three experts examine the ongoing transformation of the diamond industry. Major producing countries represented at the show, including Botswana, Angola and Namibia, are seeking to play a broader role in the sector, one that extends beyond mining alone. Their ambitions include bids to acquire De Beers, the development of social programmes, the establishment of local manufacturing facilities and deeper engagement with manufacturers and retailers.
The ability to combine and leverage complementary expertise, as reflected in the ambitions of these countries, has become increasingly strategic in a market undergoing profound change. The same applies to mining groups, as highlighted in our article on Dali Diamond Co, which was recently reconfirmed as a De Beers sightholder.
The K-Shaped Economy
The 2026 edition of JCK Las Vegas is widely regarded as one of the strongest in recent years. The atmosphere was marked by optimism, with high attendance levels and a significant number of buyers actively placing orders. Overall, results were viewed positively. The three experts noted that when a product is well positioned, supported by a clear value proposition and a compelling narrative aligned with customer expectations, demand follows.
A central theme of the discussion was the changing consumer landscape, evolving purchasing behaviours and the gradual erosion of the middle market. Consumers are spending more, yet purchasing lower volumes, illustrating the much-discussed K-shaped economy. Affluent consumers continue to spend on larger diamonds, exceptional pieces and designer jewellery, while middle-income households face mounting pressure from housing costs, debt repayments, inflation and broader economic uncertainty.
These challenges are affecting entry-level and mid-market segments and extend well beyond competition from synthetic diamonds alone. As a result, the market is becoming increasingly polarized between luxury and accessible offerings.
Signet’s recent positioning strategy illustrates this trend. On the one hand, the group acquired The Clear Cut for its credibility and strong reputation among discerning diamond buyers; on the other, it continues to maintain a synthetic diamond offering. The experts nevertheless questioned the long-term viability of this approach. Time will tell whether major retail chains can successfully sustain a dual strategy spanning both natural diamonds and synthetic diamonds.
The full discussion is available HERE.
Source : Edahn Golan