What is the current state of the diamond market? Polished market improving, with suppliers selling at lower prices to generate liquidity. Rough trading cautious as high rough prices and weak polished continue to squeeze midstream profits. Shortages of top-make goods due to reduced manufacturing, but large inventory of leftover lower-quality diamonds. Chinese government reports retail sales +9% during 7-day Lunar New Year holiday. High-end luxury robust as Boucheron owner Kering sees strong growth in US and Asia. NRF (National Retail federation) expects jewelry to top list of Valentine’s Day gifts. Alrosa January sales -44% to $282M. Belgium January polished exports -4% to $777M, rough imports -33% to $727M.
Lightbox, De Beers’ much-talked-about lab-grown diamond brand, is continuing to make its presence felt in the non-digital world—with a trunk show this week on a cruise ship and a pop-up store next month in Los Angeles.
Claims against Omega Diamonds by customs dismissed
LVMH, the world’s luxury titan, announced strong results over the full year. The sale of LVMH watches and jewelry grew by a double-digit percentage.
US consumers plan to spend more than $20 billion on gifts this Valentine’s Day, with jewelry topping the list at nearly $4 billion, according to the National Retail Federation (NRF).
The Alpha and Omega of the diamond business history and some savvy expertise
image: Lucapa Diamond Company Lucapa Diamond Company sold $16.7 million worth of rough stones from its Lulo mine at the first diamond tender under Angola’s new sales rules.
The diamond industry has moved from a relatively stable environment to a highly uncertain environment, with 2019 and the years ahead seeing lab-grown diamonds for jewelry entering a growth phase, said ABN AMRO Bank in a report.
ALROSA, the world leader in diamond production, announces the results of its rough and polished sales for December and its preliminary results for 2018. ALROSA’s rough and polished sales in December increased by 38% annually, $ 328.7 million. Rough sales reached $ 323.7 million, polished sales $ 5 million.
Some large diamond producers (miners) have been trying to conquer manufacturing and retail, but will independent businesses pay the price?