Diamond prices have increased by about 30%, Alain Némarq, CEO of the French jewelry brand Mauboussin, said in an interview with FRANCE INFO TV channel.
He explains the reason for the price increase by the fact that the sources of supplies have become more limited as a result of anti-Russian sanctions, which is why "we have lost 40% of the world's diamond supplies."
Némarq admitted that his business also suffered due to "increased labor costs, especially because of energy carriers." Production costs increased by more than 20%, and as a result, the company had to increase selling prices for jewelry by about 15% in 18 months, Nemark said.
He expects a further rise in the price of jewelry this year.
Alex Shishlo for Rough&Polished
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