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…
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
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…
Parisian jeweler FRED, a unit of luxury group LVMH, has introduced its first synthetic blue diamonds, named FRED Audacious Blue. Known for its elegant and exquisite creations, the brand has ventured into the realm of lab-grown diamonds, marking a significant shift in its product offerings. Limited-Edition Collection The brand has released a limited-edition collection consisting of just four jewelry pieces, each containing a 0.50-carat blue lab-grown diamond in the brand’s proprietary Fred Hero Cut. Additionally, a loose 8.88-carat synthetic diamond of the same colour and cut has been unveiled. All five stones are fancy-vivid greenish-blue, have VS clarity or higher,…
The Gemological Institute of America (GIA) has recently evaluated a 4.04-carat ring made entirely from a single lab-grown diamond. This significant milestone in the world of carved single-crystal diamond rings has implications for the UK jewellery industry, reflecting advancements in lab-grown diamond technology and potential shifts in consumer preferences. A Significant Milestone The Ring’s Characteristics The ring, fashioned from a single-crystal CVD (Chemical Vapor Deposition) laboratory-grown diamond, represents a significant development in the field of lab-grown diamonds. While not the first of its kind, it is the first time GIA has evaluated a ring carved from a single laboratory-grown diamond.…
De Beers Group has released its interim financial results for the first half of 2023. The report highlights key developments in production, sales, and market trends, providing insights into the current state of the diamond industry. Key Financial Highlights Production and Sales Regional Performance Market Insights The report highlights the high levels of polished diamond inventory coming into 2023 and the impact of macro-economic headwinds on rough diamond demand. The anticipated rebound in Chinese demand was affected by a large wave of COVID-19 infections, dampening consumer confidence. The softening in demand and higher financing costs have put profitability under strain.…
Gemological Science International (GSI) has announced the completion of its first advanced gemology program, the Colored Stone Professional Program. This 14-week diploma program, run at GSI’s Jaipur, India campus, welcomed students from across India. “It feels nostalgic to see students graduating from an institution like GSI, which provides a recent and detailed curriculum in an internationally made facility,” says Ms. Sunita Shekhawat, an accomplished Indian jewellery designer known for her intricate craftsmanship and revival of traditional meenakari techniques. Shekhawat adds, “The students using gemology as their base should showcase Indian culture and art when they design gemstone jewellery”. Dr K.L…
Jewellery designer Lucy Quartermaine is extending the reach of her brand into Ireland and Northern Ireland. This expansion reflects an effort to tap into new markets and engage a wider audience. Known for her modern and distinctive designs, Lucy Quartermaine is bringing a fresh perspective to the jewellery landscape in these regions. The brand has broadened its reach by partnering with several new stockists: Each of these outlets will carry Lucy Quartermaine’s best-selling sterling silver Drop collection. In addition, the brand has secured two more locations within the Ernest Jones portfolio, specifically in:
In the world of jewellery sales, understanding your customers is paramount to success. But who are your customers, really? As diverse as they are, most customers can be grouped into four basic types: This categorisation can offer invaluable insights into their buying behaviour and help you tailor your sales approach. This article delves into these customer types and provides tips for effectively selling to each. The Price Buyer: Competitive Cost is Key Price Buyers are customers driven primarily by cost. Their quest for the best deal often makes them less brand loyal; they’ll compare prices across different retailers to ensure…
Jewellery, especially high-value items, is rarely an impulse purchase. Customers often take time to consider their options, explore various designs, styles, and price points before making a decision. So, when a visitor comes to your website for the first time, it’s unlikely they will make a purchase straight away. This is where a digital sales funnel can come into play. What is a sales funnel? A sales funnel, in essence, represents the journey a potential customer takes from their first interaction with your brand to the final purchase. It’s called a ‘funnel’ because, much like a real-world funnel, the number…
Trade show season is coming up and, when done correctly, can play a crucial role in the success of businesses, providing a unique opportunity to interact with potential clients and industry peers. With shows like Pure, the Jewellery Show being one of the most highly anticipated events, standing out amidst a sea of competitors can be a challenging task. Participating in these events can significantly enhance brand visibility, generate sales, and forge strong customer relationships. However, to reap these benefits, it’s vital to set clear, realistic objectives. Whether it’s lead generation, enhancing brand awareness, or driving sales, defining your goals…