Blogs

De Beers Insight Report Shows Need For Honest Engagement With Younger Buyers

For diamond jewelry retailers looking for a guide to how to sell to Millennials – those people currently aged 21 to 39 – and members of the so-called Generation Z, currently in the 18-20 age range, the latest De Beers Diamond Insight Report is definitely an excellent start.

India Set To Continue Thriving As Economy Powers Ahead

It's impossible to visit India and not be struck – among other things – by the sheer economic vibrancy of the country. Just traveling between the hotel and the showgrounds of the India International Jewellery Show (IIJS) recently provided a myriad of views of India in action – from the extremely poor all the way up to the other end of the scale.

So reports today that the Indian economy is expected to grow by around 7.5% this year and next should come as no surprise.

Diamonds Are Doing Good – Not Just In Mining Communities

Recent developments shows that the diamond industry's heart is definitely in the right place.

The Diamond Empowerment Fund (D.E.F) recently donated $130,000 to the Botswana Top Achiever Program during a dinner reception with President Mokgweetsi E.K. Masisi of Botswana. This program recognizes students across Botswana, and provides them with the ability to study in leading universities around the world. Students then come back to Botswana and contribute towards its economic diversification. D.E.F. has been contributing to the Botswana Top Achievers program since 2011.

Good News as ALROSA Reports Rising Diamond Jewelry Sales

Russian diamond miner ALROSA reported that sales of jewelry increased in all of the world's key regions, except for India, in the second quarter. The average global growth rate, according to the miner, was 5% higher than during the same period last year.

Its report follows the publication last week of the De Beers Diamond Insight Report which stated that global diamond jewelry sales in 2017 reached a new record high of US$82 billion, with the Millennial and Gen Z generations combined accounting for two-thirds of diamond jewelry demand.

Good News as ALROSA Reports Rising Diamond Jewelry Sales

Russian diamond miner ALROSA reported that sales of jewelry increased in all of the world's key regions, except for India, in the second quarter. The average global growth rate, according to the miner, was 5% higher than during the same period last year.

Its report follows the publication last week of the De Beers Diamond Insight Report which stated that global diamond jewelry sales in 2017 reached a new record high of US$82 billion, with the Millennial and Gen Z generations combined accounting for two-thirds of diamond jewelry demand.

Political Rivalry Leads To US Dollar Reserve Currency Replacement Idea Being Raised Again

It's an idea that has been raised from time to time in the past. The last time that I recall it was suggested was following the 2008 financial crisis.

The idea is to use other currencies instead of the US dollar for the purchase/sale of diamonds – as well as a wide range of internationally traded commodities. Russia's ALROSA, the world's leading rough diamond miner by volume, announced that it has tested a payment mechanism with foreign clients using the Russian currency, the ruble.

IIJS Once Again Shows The Power And Strength Of the Indian Gem And Jewelry Sector

Attending the 35th edition of the India International Jewellery Show (IIJS) recently once again brought home a very clear fact: the extraordinary size, scale and strength of the Indian gem and jewelry industry.

No surprise there, of course. We all know the power of the Indian diamond, gemstone and jewelry trade. We are all familiar with the famous statistic that Indian polishes close to 90% of the world's diamonds, in volume terms. In value terms the figure is around 60-65%.