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10 Stories to Boost Your Understanding of the Diamond Market

Updated: 2 days ago

Diamond Gems Weekly - June 17


Here’s what you need to know from the diamond industry as we start a new week:

 

1. Where else to begin but with the Natural Diamond Council, which launched its Real. Rare. Responsible campaign in Vegas. Last week the NDC unveiled its headline film featuring the visit to Canada’s Northwestern Territories by brand ambassador Lily James. It is beautifully presented. Watch the film here and read more about it here.  

 

2. Boston Consulting Group, in collaboration with De Beers, published a report titled “The Future of the Natural Diamond Industry” outlining the short- and long-term fundamentals driving supply and demand. It’s an interesting read touching on inventory tensions across the supply chain and the desirability of diamonds in various markets.  

 

3. Signet Jewelers reported sales fell 9% and profit slumped 47% in the first fiscal quarter, although these measures were within its expectations. The company’s share price tumbled about 20% in the two days following the announcement, largely on a disappointing second quarter guidance. The trade news outlets focused on Signet’s changing attitude toward lab-grown diamonds, as highlighted by JCK Online.

 

4. Signet also published its Corporate Citizenship and Sustainability Report for fiscal 2024. In recent years, the company has played a leading role in formulating industry sourcing and sustainability practices. It’s worth being familiar with the company’s approach to sourcing as laid out from page 32 of the document.  

 

5. Chow Tai Fook reported revenue rose 15%, while profit increased 20% in the fiscal year that ended March 31. Gold jewelry sales improved 23% while gem-set, platinum and K-gold jewelry fell 13%. The company experienced growth in both China and Hong Kong-Macau in the second half.

 

6. Richemont published its annual report, providing some interesting insights to the company’s jewelry maisons – Buccelatti, Cartier, and Van Cleef & Arpels.

 

7. Brilliant Earth announced its new Signature Collections showcasing a range of engagement rings and bridal bands, giving customers a choice of natural diamonds, lab grown or gemstones (see image below).  

 

8. The Eden Rose, a ring set with a unique round brilliant, 10.20-carat, fancy-intense pink, internally flawless, type IIa center stone surrounded by eight pear-shape and two marquise diamonds, surpassed expectations selling at Christie’s New York for $13.3 million.  

 

9. Gemfields, an emerald and ruby miner and owner of the Fabergé high jewelry brand, appointed former De Beers CEO Bruce Cleaver as chairman of the board. Gemfields has in the past tried to position itself as the “De Beers of the color gemstone market.” While it may have moved away from that notion, it bears some similarities given its mining activity and branding. No doubt, Cleaver will draw from his experience in nurturing both segments at De Beers in his new role.  

 

10. Keep an eye out this week for the Hong Kong Jewellery & Gem Show taking place June 20 to 23 to gain greater insight to the market in greater China.


Image credit: Brilliant Earth.

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