In a recent event at the Rice Northwest Museum of Rocks & Minerals in Hillsboro, Oregon, a 703-carat tanzanite carving, named L’Heure Bleu by artist Naomi Sarna, has been officially recognised as the world’s largest cut tanzanite by GUINNESS WORLD RECORDS™ on March 9. Record-Breaking Achievement The declaration of the world record was witnessed by a large crowd, including gemstone experts Jessie English from J.S. English Appraisals and Madeline Saunders of Oregon Estate Jewelry, who served as the official witnesses. Michael Empric, a Guinness World Records adjudicator, verified and announced the achievement. The event was also attended by Gail Spann,…
Author: Steven Joseph
Steven Joseph
Steven aims to be first to bring the news on industry updates, while his finance background informs his insights on how broader economic trends affect the jewellery trade
Alrosa has announced a significant change in its sales approach for the year 2024 – it has committed to selling its entire diamond production for the year directly to the Russian government, a move that deviates markedly from its previous sales strategies. This decision comes amidst escalating sanctions pressure, with the G7, which accounts for 70% of the diamond market, tightening its restrictions on Russian diamonds. Government Procurement of Diamond Production The Finance Ministry’s Gokhran, Russia’s repository for precious metals and stones, acquired Alrosa’s entire diamond output for March 2024 and plans to maintain this purchasing pattern throughout the year.…
Ahmed Bin Sulayem, Chair of the Kimberley Process (KP), recently concluded a comprehensive fact-finding mission to West Africa, specifically Sierra Leone and Ghana, recognizing both countries for their exemplary adherence to KP standards and setting a benchmark for global practices. Strengthening Global Standards The mission, led by the UAE delegation, was geared towards reinforcing best practices within the Kimberley Process membership. As part of the UAE’s ambitious “Year of Delivery,” the visit aimed at ensuring the Kimberley Process’s stringent controls and regulations are effectively implemented, fostering a more ethical and transparent global diamond trade. Sierra Leone and Ghana’s commitment to…
The European Union and Belgian authorities have intensified their enforcement of sanctions against Russia, particularly targeting the importation and trade of Russian diamonds. This action includes the arrest of four individuals in Antwerp for allegedly violating EU sanctions, and the imposition of sanctions against Alrosa, Russia’s leading diamond mining company, along with its CEO, Pavel Marinychev. Antwerp Raids Yield Arrests and Seizures Following an investigation triggered by the seizure of diamonds in late February, the Belgian public prosecutor’s office reported that the Federal Judicial Police (FGP) Antwerp conducted six house searches, leading to four arrests. According to the public prosecutor’s…
The Botswana government-owned Okavango Diamond Company (ODC) has been announced as the latest member of the Natural Diamond Council (NDC). This marks a significant moment as ODC is recognised as the first non-mining entity to gain membership within the NDC. The collaboration underscores ODC’s crucial role in the distribution of natural diamonds and reflects Botswana’s strategy to enhance consumer demand as a key to the future prosperity of the natural diamond market. Strategic Membership The inclusion of ODC in the NDC represents a key milestone, uniting two influential entities within the diamond sector. ODC’s annual contribution of over 6 million…
As the retail industry increasingly adopts generative AI into its operations, the jewellery sector finds itself at an important moment, with the technology looking likely to be incorporated into many aspects of customer service, personalisation, and operations. A recent survey conducted by Salesforce and the Retail AI Council unveils a comprehensive overview of the current state of generative AI adoption across the retail landscape, providing critical insights that are particularly relevant for jewellers. Generative AI Adoption in Retail: A Primer for Jewellers The survey reveals that 36% of retail employees are currently utilising generative AI, with projections indicating an increase…
The Gemological Institute of America (GIA) has recently published “William Ruser: The Jeweler Who Charmed Hollywood”, exploring the career of William Ruser, famed for his figural jewellery with freshwater pearls. The book, by Judy Colbert and Peggy Tsiamis, aims to provide a thorough look at Ruser’s contribution to jewellery design and his enduring popularity in the market. From Humble Beginnings to Stardom Ruser’s journey from modest origins to the preferred jeweller of Hollywood’s elite in the mid-20th century is captured in the book. His clientele included names like Elizabeth Taylor and Frank Sinatra. On Ruser’s customer service, the book notes,…
The International Gemological Institute (IGI) has introduced a new technology aimed at accurately distinguishing between lab-grown and natural fancy-colored diamonds. Traditional methods for differentiating diamonds, primarily focused on colorless stones, have relied on photoluminescence to detect the source of the diamond. However, these techniques prove ineffective for fancy-colored diamonds, which may undergo treatments like irradiation, heat, and pressure, altering their fluorescence and phosphorescence. To address this, IGI has conducted extensive research to establish a set of procedures specific to each color category of diamonds. Advanced Identification Techniques Utilizing Fourier-transform infrared spectroscopy (FTIR) and photoluminescence spectroscopy, combined with magnification, IGI’s new…
Tiffany & Co. has introduced a new campaign, “With Love, Since 1837,” aimed at celebrating the brand’s origins and the histories of its iconic collections. The campaign draws inspiration from Gene Moore, a notable window designer for Tiffany, and seeks to reinterpret his creative vision for today’s audience. It focuses on the narratives that link each collection to the brand’s long-standing tradition of craftsmanship without the use of celebrity endorsements. Historical Context and Inspiration The initiative revisits the establishment of Tiffany & Co. in 1837 by Charles Lewis Tiffany in New York City and showcases several notable collections. These include…
The World Federation of Diamond Bourses (WFDB) recently hosted its annual Presidents’ Meeting in Shanghai, China, at the new Shangrila Hotel in Pudong. This event gathered leaders from the global diamond industry to deliberate on significant issues such as G7 restrictions, the emergence of synthetic diamonds, and the challenges within the Chinese market. The meeting, lasting over three days, aimed at fostering dialogue and strategies to navigate these challenges. Collaborative Efforts and Industry Unity A recurring theme of the meeting was the essential role of cooperation among organisations within the diamond industry. Under the guidance of WFDB President Yoram Dvash,…
Model Emily Ratajkowski has introduced her “divorce rings,” transforming her Toi et Moi engagement ring into two separate pieces. This step highlights a growing trend in jewellery customisation, where personal items are reimagined to reflect individual journeys and new beginnings. Trend Overview After separating from Sebastian Bear-McClard, Ratajkowski collaborated with Alison Lou, the original designer of her engagement ring, to create two new pieces from the original. These rings, one with a pear-shaped solitaire and another with a princess-cut diamond, demonstrate a creative approach to repurposing significant jewellery. This concept has gained traction, as more people look for ways to…
The Natural Diamond Council (NDC) has expanded its Education Program to include a new series of roleplay videos and a monthly subscription option, alongside the existing annual subscription. This initiative aims to equip sales advisors and jewellers with practical tools for engaging with consumers, addressing common queries and misconceptions about natural diamonds through realistic scenarios. Educational Expansion The newly unveiled component consists of 19 roleplay videos, each created to address common questions and misconceptions about diamonds. These educational materials are intended to aid sales advisors and jewellery professionals in navigating conversations with consumers, ranging from self-purchasers and gift shoppers to…
The Indian diamond industry, recognised as a global leader in cutting and polishing diamonds, is poised to experience a downturn in cut and polished diamond (CPD) exports, projected to fall to around $15-16 billion in the fiscal year 2023-24. This represents a significant decrease, marking a five-year low. The reduced demand from the primary markets, the United States and China, which collectively account for approximately 65% of India’s diamond exports, underpins this trend. Facing various challenges, including shifts in consumer spending, the rise of lab-grown diamonds, geopolitical unrest, and sanctions on Russian-origin diamonds, the sector’s outlook appears cautious. Demand Fluctuations…
The Gemological Institute of America (GIA) has taken a significant step towards sustainable gold mining practices by awarding a $93,000 grant for the deployment of the Goldrop technology across three Colombian artisanal and small-scale mining (ASM) communities. This collaboration between the Alliance for Responsible Mining (ARM) and Mercury Free Mining (MFM), aims to eliminate the need for mercury in gold extraction, presenting a major advancement in efforts to develop a more sustainable and ethical gold mining industry. Enhancing Miner Welfare and Environmental Protection The introduction of Goldrop technology is set to transform the working conditions of arASM miners, significantly reducing…
Natural Diamond Council (NDC) has introduced a new platform named “Real. Rare. Responsible.” which aim to highlight the inherent beauty, scarcity, and ethical sourcing of natural diamonds and shine a light on the moral obligations of the diamond industry worldwide. “Our mission is to inspire and educate consumers on the unique values of natural diamonds and the positive impact and commitments of the industry,” said Kristina Buckley Kayel, Managing Director & CMO, North America at NDC. “The new framework of Real. Rare. Responsible cohesively ties in our mission throughout NDC’s editorial destination (naturaldiamonds.com), celebrity ambassador and sustainability global advertising campaigns,…
The World Federation of Diamond Bourses (WFDB), along with key industry leaders, has initiated a concerted campaign to address the challenges posed by the proposed G7 restrictions on diamonds of Russian origin. A comprehensive letter, undersigned by Yoram Dvash, President of the WFDB; Feriel Zerouki, President of the World Diamond Council; Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council of India; and Ronnie Vanderlinden, President of the International Diamond Manufacturers Association, has been dispatched to G7 and EU representatives. This letter articulates the diamond and jewellery industry’s apprehensions regarding the “one import node” solution and its potential…
IGI has recently introduced a comprehensive set of procedures designed to distinguish between fancy-colored lab-grown diamonds and their natural counterparts. This development comes as a response to the growing challenge in the jewellery industry to identify synthetic stones, which are often treated to emulate the appearance of natural diamonds. IGI’s innovative approach involves the use of Fourier transform infrared spectroscopy (FTIR) and photoluminescence spectroscopy, supplemented by traditional magnification techniques. These methods aim to overcome the limitations faced by conventional screening devices that rely on photoluminescence for analyzing a diamond’s fluorescence and phosphorescence under ultraviolet light. According to IGI, such traditional…
In a significant move, De Beers announced a notable reduction in rough diamond prices during their recent sightholders meeting. This strategic adjustment involves cuts ranging from 10% to as much as 25% for certain diamond categories, signaling one of the most substantial pricing shifts in the company’s recent history. Breakdown of Price Adjustments The scale of the reductions varies across different segments of the diamond inventory. Diamonds under 0.75 carats are now priced 5% to 10% lower. The 0.75 to 2 carat diamonds have seen average reductions of 10% to 15%, while those over 2 carats are subject to a…
The Gem & Jewellery Export Promotion Council (GJEPC) recently acknowledged Mr. Tehmasp Printer, CEO of the International Gemological Institute (IGI), for his impactful contributions to the industry. With over 24 years at IGI, including his tenure as CEO since last year, Printer has been instrumental in advancing the institute’s global influence. IGI’s Global Influence and Services IGI, with its 30 laboratories and 19 educational facilities, has played a pivotal role in the global gem and jewellery landscape for over 45 years. The institute offers a range of services, including diamond grading, coloured stone grading, jewelry identification, and appraisal, catering to…
The International Gemological Institute (IGI) has recently revealed a significant case of diamond fraud. A 6.01 carat pear-cut diamond, initially believed to be natural due to its inscription, was identified as a lab-grown stone. This discovery highlights a growing concern in the jewellery industry regarding the differentiation and accurate representation of lab-grown and natural diamonds. The Discovery Process IGI’s analysis unveiled that the gemstone, inscribed with a grading report number matching a natural diamond, was in fact lab-created. The examination involved advanced techniques like photoluminescence spectroscopy, which exposed Silicone Vacancy (SiV) defects indicative of the Chemical Vapor Deposition (CVD) process…
The Gemological Institute of America (GIA) hosted its 16th annual research meeting at its global headquarters in Carlsbad, California, bringing together over 100 participants. This assembly included GIA researchers, esteemed academics, independent industry experts, and GIA Governors and executives. The three-day event, held from 1-3 November, focused on the latest gemological research and technological advancements Pioneering Research for Consumer Protection Tom Moses, GIA’s Executive Vice President and Chief Laboratory and Research Officer, emphasized the centrality of rigorous independent research to GIA’s mission. He stated, “Rigorous independent research is at the centre of GIA’s activities and is vital to our consumer…
Angola has officially commenced diamond mining at the Luele project, which represents a significant milestone for the country and adds to the world’s most substantial diamond resources. This mine is expected to be the largest diamond mining project to come online this decade, with an estimated resource of 628 million carats and a projected operational lifespan of 60 years. Located adjacent to the Catoca mine in northeastern Angola, Luele, previously known as Luaxe, is poised to enhance Angola’s status as a key player in the global diamond industry. Production Goals With an initial processing capacity of 4 million metric tons…
After prolonged discussions, the European Commission appears to be moving closer to implementing a significant ban on the import of diamonds from Russia. This measure, part of a wider series of sanctions that include an oil price cap, marks the 12th sanctions package aimed at Moscow. With discussions underway, this proposal seeks unanimous approval from all 27 EU member states and could be finalised in the coming weeks. Set to be effective from January 1, 2024, the ban specifically targets direct imports of Russian diamonds. A critical component of the sanctions includes the establishment of a traceability mechanism from March.…
In its ninth cycle of sales for 2023, the De Beers Group reported a provisional rough diamond sales value of $80 million. This figure, subject to final adjustments, compares with $200 million in actual sales for Cycle 8 of 2023 and a significantly higher $454 million in the corresponding cycle of the previous year. These numbers reflect the ongoing volatility in the diamond market. CEO’s Market Analysis Al Cook, CEO of De Beers Group, commented on the current economic climate’s impact on the diamond sector. “Macro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow.…
The UAE is set to chair the Kimberley Process in 2024, with the vice-chair role commencing in 2023. This decision, made at the Kimberley Process Plenary in Botswana, highlights the UAE’s growing role in the international diamond industry. Implications for Jewellers This role may provide stability and continuity during market uncertainties, as expressed by Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC: “The Kimberley Process is a global body that strives to enable trade to flourish in a safe and stable environment so that all participants and their dependent societies can benefit to the full… we are committed to…
Tiffany & Co. has announced the launch of its latest jewelry collection, Tiffany Forge. The collection, crafted from sterling silver, is inspired by the idea that every individual forges their own unique path in life, while an open-link design motif throughout the collection draws inspiration from designs found in the Tiffany Archives. This new collection pays homage to Tiffany & Co.’s longstanding tradition of crafting sterling silver pieces, a material deeply rooted in the brand’s history. Notably, over a hundred years ago, Tiffany & Co. established the U.S. standard for sterling silver purity. The signature open-link motif of the Tiffany…
The Responsible Jewellery Council (RJC), the Mineralogical & Geological Museum at Harvard (MGMH), and the Gemological Institute of America (GIA) have once again joined forces. Following their collaborative efforts at the State of the Art Summit in June 2023, these industry leaders have announced the launch of JewelryArts24 during Frieze Week 2023. The Call for Responsible Practices The State of the Art Summit, held at the Mineralogical and Geological Museum, Harvard University, highlighted the pressing need for responsible practices within the jewelry industry. A significant takeaway from the summit was the importance of involving the younger generation, promoting storytelling, and…
Irish jewellery brand Chupi has announced the opening of its new flagship store on Clarendon Street, Dublin, slated for October 18 – a significant expansion for the brand. The flagship will housed in the historic 250-year-old Powerscourt Townhouse, formerly occupied by French Connection.. Spread across a sprawling 4,500 sq ft, the ground floor dedicates 107.86 sqm to retail space featuring three street-facing windows. A golden arch window at the end of Diamond Alley showcases a jewel box exhibiting Chupi’s fine jewellery. The second floor, covering 345 sqm, is set to house studio and office space, with a customer-facing area for…
JCK has been honored with the title of the “Greatest Show of 2022” by Trade Show Executive’s Gold 100 at an event held in San Diego in September. The award is a recognition of JCK’s outstanding contributions to the trade show industry and its excellence in providing a platform to connect, engage and explore the latest trends and innovations in the jewellery sector. Organized by RX, JCK 2022 was a return to form – showcasing outstanding attendance, effective marketing strategies and robust sales – driving the event to beat budgets and exceed the attendance figures of 2019 pre-Covid. This remarkable…
De Beers Group has made the strategic decision to halt the production of lab-grown diamond engagement rings, which were previously sold through its Lightbox brand. This significant move reinforces De Beers’ focus on the enduring allure of natural diamonds amidst the rising popularity of synthetic alternatives. Abandoning The Synthetic Experiment De Beers ventured into the lab-grown diamond arena with the aim of capturing a share of the burgeoning market for ethically sourced and cost-effective alternatives to natural diamonds. However, the decision to discontinue this line marks a noticeable shift back to its longstanding tradition of natural diamond craftsmanship. Pricing Discrepancies…