Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

De Beers ends Lightbox lab-grown diamond engagement ring trial

14 september 2023

De Beers has abandoned its Lightbox lab-grown diamond (LGD) engagement ring trial.

The test, it said, enabled the business to comprehend LGDs and evaluate their evolving landscape and consumer perspectives.

The engagement ring test found that many LGD engagement ring arrangements are unsustainable, with retailers already requiring a quadrupling of LGD carat sales every two years to maintain a flat absolute gross margin.

De Beers said Lightbox will also not sell LGD engagement rings and will instead focus on cheap fashion jewellery and loose stones.

The most recent US and Chinese consumer survey by De Beers places natural diamonds among the top three luxury purchases made by women.

In the US, four in five women see natural diamonds as important and the greatest way to recognise a relationship milestone, while pricing drives LGD sales.

Four times as many clients of luxury jewellery would choose genuine diamonds over LGDs for special occasions, and over three and a half times as many would be proud to wear them.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished