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
JCK Virtual 2020: De Beers Probes the Mood of the COVID-19 Consumer
26 august 2020
(jckonline.com) - Consumers are looking for messages that provide “security” and “positivity” during these troubling times, De Beers chief executive officer Bruce Cleaver said in Monday’s opening keynote for the JCK Virtual 2020 Luxury show, “Time to Connect: Evolving Consumer Perceptions and the Unique Role of Diamonds in the New Normal.” He based his observation on “robust” consumer research, conducted by his company, which surveyed 2,800 U.S. men and women aged 20 to 65, with household incomes of at least $75,000, as well as a similar number in China and India. “COVID-19 has fundamentally changed our relationship with the notion of normality,” he said, noting that formerly routine things such as buying a carton of milk are now considered a health risk. “Things are difficult for people right now. They see themselves as being in a moment of change and unpredictability, and this has impacted consumer confidence.” However, he noted that people are adjusting to their new routine.
Diamond Business Absorbs Blows
25 august 2020
(edahngolan.com) - The diamond business has continued to absorb the repercussions of the global pandemic. Polished diamond wholesale prices, after a small improvement in June, continued to mostly slide in July. This coincides with an ongoing decline in jewelry share of wallet. The ensuing economic meltdown, caused mainly by a vicious drop in retail sales, is hurting the diamond industry from top to bottom.
To Speak Out, or Not to Speak Out?
24 august 2020
(diamonds.net) - Amid anti-racism protests, brands are increasingly taking a stand on social and political issues, but jewelers disagree on whether it’s worth voicing their opinions.
By Joshua Freedman.
On Data: Sales Show Continued Improvement in July
21 august 2020
(nationaljeweler.com) - By now most of our retailers have reopened for business, albeit with many restrictions and in an environment that is far removed from the pre-COVID-19 business climate. While we have no idea when things will change, it is reasonable to assume retailers will continue to face challenges for the remainder of the year. Despite the difficulties, we have seen retailers quickly adapt to circumstances beyond their control. They continue to be creative and to utilize less traditional methods to drive revenue.
De Beers CEO: How We Plan to Transform Our Business
20 august 2020
(jckonline.com) - On Thursday July 30, De Beers released financial results for the first half of the year, which show just how much it’s been battered by COVID-19—with total revenue coming in at $1.2 billion, a 54% drop from the year before, which itself was not a great period. In an interview with JCK, chief executive officer Bruce Cleaver talks about how the company plans to transform its business, the post-COVID-19 consumer, and when the diamond business will get out of its current doldrums.
