News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Today
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Today
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Today
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Today
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
Yesterday
More Retailers Selling Lab-Grown Diamonds, Survey Finds
18 november 2020
(jckonline.com) - About 38% of independent jewelers are now carrying lab-grown diamonds, according to a new survey by MVI Marketing for the International Grown Diamond Association and InStore magazine. Consumer awareness of man-made gems is also rising: The company’s MVEye survey of more than 1,000 jewelry consumers found that 80% were aware of lab-grown diamonds. By contrast, in 2018, 58% had heard of the category. A decade ago, less than 10% had. Some 8% said they owned jewelry with lab-grown diamonds, up from 6% in 2018.
Is Click-And-Mortar The Future Of China’s Luxury Retail?
17 november 2020
(jingdaily.com) - On a recent Thursday evening, the young professionals in Shanghai’s city center started rushing to the subway through the Kerry Center shopping mall. When a consumer walked into the cosmetics concept retailer Bonnie & Clyde, a beauty consultant quickly came to greet them and walk the customer through the spacious store and its stand-alone display tables and shelves chocked full of $400 face masks and $125 blushes. The cross-border retailer uses the store as a showroom to sell a range of niche foreign brands such as Natura Bisse from Spain and Chantecaille from France. It is a version of the “try offline, buy online” model that allows consumers to scan a QR code to place orders through a WeChat Mini-Program, which are then delivered in under four hours within Shanghai, and under 24 hours to the rest of China. “We have all of our stock within the free trade zone in Shanghai, and we invest a lot of support into our logistics,” said the concept store’s Founder and CEO, William Lau. Merging online and offline operations, click-and-mortar (also referred to as “clicks and bricks”) is an existing trend in omnichannel business models that has been accelerated by COVID-19. While the term refers to an innovative combination of physical and web store marketing in other countries, in China, the model could have a lot more manifestations as mobile-friendly consumers are used to shopping online.
The 2019 Pipeline
16 november 2020
(idexonline.com) - The 2019-2020 period is evolving as a dramatic game changer for the entire world. This is even more so for the diamond industry where a gradual pipeline restructuring process finally matured into an inevitable and, in fact, a most desirable conclusion for the midstream sector - the manufacturers of the rough and the traders of the polished. Finally, this quite squeezed sector from a profitability aspect, began to act purely in their own economic, financial, and commercial self-interest less burdened by producer pressures to “relieve” them of their stocks. Led by the massive Indian diamond sector, the manufacturers put four months break on their rough diamond purchases. In 2019 the producers were faced with considerable resistance to purchase their rough allocation which was met, to quote the CEO of De Beers, “with unprecedented flexibility in the way it sold its diamonds to sightholders because of the nature of the market”. In February 2020, well before the pandemic struck the world in full force, the heads of both De Beers and Anglo American announced that they would change their allocation system (sights) and that no buyer will be “unaffected” by the changes in the sight system. The Indian industry didn’t wait to find out what scheme the producer would introduce.
The marriage saving Tiffany
13 november 2020
After a turbulent ‘engagement‘ period with LVMH Moët Hennessy Louis Vuitton (LVMH), the world’s leading jewellery brand Tiffany & Co and the global luxury goods market leader, has agreed to lower the price for a merger of their businesses to save its ‘marriage’ with the French giant.
It’ll Be a ‘Do or Die’ Holiday for Retailers with Consumers Spending 7% Less
12 november 2020
(unitymarketingonline.com) - By this time each year, the National Retail Federation (NRF) would be out with its holiday retail forecast. But 2020 has been a year like no other, so NRF begged off making their prediction until November. Comparing the forecasting process to completing a jigsaw puzzle with some of the pieces missing, NRF’s chief economist Jack Kleinhenz said in a statement: “We are waiting for new data and are still assembling puzzle pieces for the 2020 holiday season. The test is whether consumer spending will be sustained amid wildcard puzzle pieces including policy surprises, the election and a resurgent virus.” While many macroeconomic factors, like unemployment, wage growth and savings rates, go into economists’ models, consumer sentiment is the north star for revealing how retail will fare this holiday season. And that doesn’t look promising.
