1. What are your current titles/functions in the diamond industry, both private and organisational?
I am a founding partner of JC Jewels Pty Ltd, where I served as CEO until 2024. During my tenure, I played a crucial role in establishing the company as a key player in the Australian diamond industry, focusing on wholesale distribution. I remain a shareholder.
I have left JC jewels to embark on an exciting new venture, Jewelco.com.au, a startup dedicated to bringing high-quality diamond jewellery directly to consumers. Jewelco leverages my extensive experience in the industry, offering both natural and lab-grown diamonds. The new company focuses on transparency, with an emphasis on utilising technology, data and AI.
I also hold the position of President of the Diamond Dealers Club of Australia (DDCA). In this capacity, I invest significant time in advocating for our local diamond industry, ensuring that our members operate under the highest ethical standards and fostering strong international trade relationships. My role as President allows me to actively contribute to the growth and sustainability of the diamond trade in Australia, representing the interests of our members on both local and global stages.
2. Tell us about your journey in the diamond industry, how you began and where you are now.
I am a second-generation diamantaire, my father Des Miller, was a sightholder in South Africa. Growing up surrounded by the diamond trade, I developed a deep appreciation and understanding of the industry from an early age. After university education, I began my career on the bench, cutting and polishing diamonds. This hands-on experience provided me with a solid foundation and a unique perspective on the craft, allowing me to understand the industry from the ground up.
In 1999, I immigrated to Australia, where I continued as a polished diamond dealer. Over the years, I have been fortunate to be involved in various aspects of the diamond trade, from sourcing to distribution, supplying retailers with high-quality diamonds and jewellery. This journey led me to co-found JC Jewels Pty Ltd, Australia’s first tech diamond merchant, who was at the forefront of wholesaling LGD in Australia whilst I was the CEO until 2024.
In 2024, I made the decision to pivot my focus towards a new venture, Jewelco.com.au. This startup represents the next chapter in my career, where I am excited to bring my expertise directly to consumers in our showroom and through a modern, direct-to-consumer platform.
My passion for diamonds and the industry has always gravitated me towards following in my father’s footsteps by contributing a significant portion of my time to the local trade. This passion is what led me to sitting on the organising committee of the Young Diamantaires Group and today in the role of President of the Diamond Dealers Club of Australia (DDCA). This position allows me to engage with the local trade in a meaningful way, where I can contribute to ensuring that the next generation can continue the legacy in a healthy and thriving trading environment.
3. Does your bourse mainly service the local diamond and jewellery trade, or does it supply to other countries as well?
Our bourse is a relatively small group of like-minded diamond dealers and diamond retailers supporting Australian jewellers, retailers, and diamond professionals. Australia has historically been a location that, in many ways, has remained in the background of the global diamond industry. Unlike other major diamond centres, we don’t have a significant cutting and polishing sector, aside from the Argyle manufacturing tender stones in Perth when the mine was active.
For the most part, Australia has exported rough diamonds over the years, primarily from the Ellendale, Argyle, and Merlin mines. These mines have contributed significantly to the global diamond market, particularly with the production of some exceptional coloured diamonds, including pink, blue, and yellow diamonds. The Argyle mine, in particular, was renowned for its production of rare pink diamonds, which have become some of the most sought-after gems in the world.
In recent years, we have seen an increase in the attendance of Australian jewellers at international trade shows. This trend is a positive sign for our industry’s development and growth, as it indicates a growing interest in expanding our market presence and forging new international connections.
While our primary focus at the DDCA is on servicing the local trade, we acknowledge the unique contributions of Australian diamonds to the global market. Our bourse provides a platform for local professionals to engage in fair and transparent transactions. Through our affiliation with the World Federation of Diamond Bourses (WFDB), we also maintain connections that facilitate international trade and collaboration, ensuring that Australian diamonds and craftsmanship continue to be recognised on a global stage.
4. What is the current situation in the Australian diamond industry? Is it experiencing a decline in demand similar to other countries?
The Australian diamond industry, much like the global market, has faced its share of challenges in recent years. Economic uncertainties, changing consumer behaviours, and the impact of global events have all influenced the demand for diamonds and luxury goods. While there has been some softening in demand, particularly for traditional retail channels, the situation in Australia is nuanced and reflects a blend of both challenges and opportunities.
Australia has a relatively stable market for diamonds, with consistent demand for high-quality products, especially in niche segments such as bespoke jewellery and coloured diamonds. The country’s rich history of producing rare, coloured diamonds, particularly from the Argyle mine, has helped maintain interest and value in these exceptional goods. Even after the closure of the Argyle mine, the legacy of its pink diamonds continues to resonate strongly in the market.
Like many other markets, the Australian industry is adapting to the rise of lab-grown diamond engagement rings (LGDs) and the evolving preferences of a younger, more environmentally conscious consumer base. This shift has required traditional retailers and diamond dealers to innovate and diversify their offerings to stay competitive.
Despite these challenges, the Australian diamond industry remains resilient. The growing trend of consumers seeking ethical and sustainable jewellery has created new avenues for growth. Additionally, the increased attendance of Australian jewellers at international trade shows, as mentioned earlier, signals a proactive approach to expanding market reach and staying connected with global trends.
5. Have LGDs taken off, and are they competing with the natural diamond trade?
LGD’s have gained significant traction in the Australian market, reflecting a broader global trend towards alternative diamond options. Much like in America, LGDs resonate strongly with today’s consumer in Australia. They offer a new value proposition and consumer choice that has clearly struck a chord with Australian buyers. This appeal is particularly evident among younger, budget-conscious consumers and those with a heightened awareness of environmental and ethical considerations. As a result, LGDs are becoming a mainstream option.
However, while LGDs are competing with natural diamonds in certain segments, they are not necessarily seen as a direct replacement. Many consumers still value the unique qualities and rarity of natural diamonds, especially those with a deep appreciation for the history, natural formation process, and traditional significance of these gems. Additionally, the strong legacy of Australian coloured diamonds, particularly those from the Argyle mine, continues to command a premium and maintain a strong market presence.
Interestingly, in recent months, feedback from the market has reflected an increase in natural diamond sales relative to the past year. This suggests a renewed interest in natural diamonds, driven by their timeless appeal and the growing recognition of their enduring value.
The growth of LGDs has also introduced a new dynamic into the market, pushing the industry to innovate and redefine the value proposition of both natural and lab-grown diamonds. For jewellers and diamond dealers, this has meant a shift towards offering more personalised and tailored services, educating consumers about the differences between LGDs and natural diamonds, and ensuring that both products meet high standards of quality and ethical sourcing.
6. What are the challenges and opportunities your bourse is facing?
The Diamond Dealers Club of Australia (DDCA) is navigating a dynamic landscape, marked by both significant challenges and promising opportunities. Lab grown diamonds have brought change, on one hand offering new avenues for consumer engagement, they also necessitate a rethinking of how natural diamonds are positioned and valued within the market. Balancing the promotion of both product categories, while maintaining the unique appeal of natural diamonds, requires strategic communication and education efforts.
The DDCA is focused on providing a strong education and networking environment for existing and new and upcoming jewellers in the diamond space. We have initiated a major program to help all diamond dealers and retailers acquire high quality diamond testing tools, as we have a huge concern on the industry being duped through careless behaviour, this was recently supported by the GIA which worked with the DDCA on providing the GIA ID100 diamond testing tool at a discounted price for our members. We at the DDCA decided that we would extend this offer to the whole Australia trade as we felt it was too important a issue.
The world today brings much change, and I have seen how the dynamics of diamond clubs around the world have evolved, particularly over the past decade. Finding the best fit for our members, and what that looks like moving forward, is one of my focus points. To address these challenges and seize the opportunities ahead, the DDCA will focus on several key areas: education, ensuring our members are informed and equipped with the latest knowledge; community networking, fostering strong connections and collaboration within our industry; trade support, offering resources and guidance to help our members succeed in an evolving market; technological advancements, keeping pace with innovations that can enhance our industry’s capabilities; industry connections, strengthening our relationships with international partners and stakeholders; and staying updated on new developments and the latest insightsto keep our members at the forefront of the industry.
In conclusion, the DDCA is committed to advancing the interests of the Australian diamond industry. I am honoured to succeed Rami Baron as president, and I recognise the significant legacy he leaves behind. While I have big shoes to fill, I am confident that with the support of our newly appointed strong board of advisors, we will continue to achieve success and growth for the DDCA. Together, we are dedicated to ensuring that our members and the broader industry thrive in this dynamic environment.
