News: Mixed expectations for the holiday season. US jewelry sales steady, but economic uncertainty affecting sentiment. IMF lowers 2023 global growth forecast due to China slowdown, Ukraine war and inflation pressure. Jewelry outpacing other luxury sectors, says Mastercard. LVMH 3Q jewelry and...
Distinguishing natural diamonds from laboratory-grown stones has been difficult for jewelers. Until now.
The Growing Popularity of Laboratory-Grown Diamonds
Laboratory-grown diamonds are increasingly available in greater quantities, higher quality and new colors at price points that...
US e-commerce is expected to grow at a slower pace this holiday season due to inflation and a challenging economic environment, according to Adobe Analytics.Sales will rise 2.5% year on year to $209.7 billion over the November-to-December period, Adobe predicted in its annual holiday shopping...
US jewelry sale increased in September even as other luxury categories lost steam, according to Mastercard SpendingPulse.Revenue for the category grew 7% year on year during the month, Mastercard reported last week. The rise comes despite the effects of inflation, which influenced a 5% decline...
The European Union (EU) has excluded diamonds in its latest round of sanctions against Russia.The new package, which the Council of the EU released last Thursday, extends certain trade bans and imposes restrictions on imports of “elements used in the jewelry industry, such as stones and...
Debmarine Namibia, De Beers’ joint venture with the government in the southern African nation, has promoted chief financial officer Willy Mertens to CEO.Mertens will take over on November 1 from Otto Shikongo, who is retiring from Debmarine Namibia at the end of this year after leading the...
The Williamson Pink Star diamond has become the second-most valuable jewel ever sold at auction, following a ‘bidding frenzy’ at Sotheby’s Hong Kong.After a 20-minute battle, which included 50 bids, the cushion-cut, 11.15-carat, fancy-vivid pink, internally flawless diamond ring sold for $57.7...
De Beers is set for a change in leadership as CEO Bruce Cleaver will step down from his role at the beginning of 2023. He will be replaced by Al Cook, who is currently executive vice president of international exploration and production at Norway-based energy company Equinor.“Al brings more...
RAPAPORT... De Beers’ rough-diamond sales were seasonally lower in September as Indian factories prepared for the Diwali shutdown, the miner reported Wednesday.Proceeds came to $500 million at the company’s eighth sales cycle of the year, which included the sight that ran from September 19...
Jewelers of America (JA) will present a posthumous honor to industry leader Steven Kaiser at its next GEM Awards.Kaiser, who died in May of this year, will receive JA’s Award for Lifetime Achievement at the event at New York’s Cipriani 42nd Street on March 17, 2023, the organization said...