Author: Ruchi Singla

Jewellers and valuers in the UK and other European markets can now access Instappraise’s jewellery valuation solution, aimed at streamlining business operations.Official UK Market EntryInstappraise, a leading digital solution for jewellery valuations and appraisals, has announced its official entry into the UK market, marking the occasion by sponsoring the National Association of Jewellers (NAJ) Summit, which will take place from June 22-24 at the Park Regis Hotel in Birmingham.Sponsorship and Event DetailsThe NAJ Summit is a significant event that gathers professionals from across the jewellery industry. It includes the Valuers’ Conference, hosted by the Institute of Registered Valuers (IRV), and…

Gemfields has launched a new book, titled No Stone Unturned: The Hunt for African Gems, authored by Richa Goyal Sikri. This publication explores the journey of gemstone discoveries across Africa over the past six decades, capturing the essence of the coloured gemstone industry.A Collection of Real-Life AdventuresThe book, No Stone Unturned, comprises 24 true stories that depict the dynamic and often perilous world of the gemstone trade. Sikri’s narrative takes readers through the process of gemstone discovery, from the mines to the markets, providing insights into significant historical moments linked to Africa’s gem deposits.Voices from the IndustrySean Gilbertson, CEO of Gemfields, praised…

The Goldsmiths’ Centre in London has announced the first round of recipients for its 2024 Business Catalyst (Small) Grants. Five emerging jewellery and silversmithing businesses have each been awarded £1,000. The recipients are Scarlett Cohen French, Ozlem Gunes, Megan Brown, Emma Wilson, and Alice Fry.Selection and PurposeThe grants were awarded by the Goldsmiths’ Centre team in collaboration with guest judges Bettina Boerner, Head of Manufacturing at DeBeers Jewellers, and Darren Sherwood of Sherwood Jewellery. All recipients have completed or participated in formal mentoring programmes, business consultancy, or business diagnostic programmes, including those offered by the Goldsmiths’ Centre. The grants, funded by…

Signet Jewelers has identified fashion jewellery as the primary avenue for growth in the synthetic-diamond segment, according to CEO Gina Drosos.During an investor call following the release of Signet’s fiscal first-quarter earnings, Drosos highlighted that revenue from fashion jewellery featuring synthetic diamonds surged by 14% year on year. This growth occurred as the company expanded its offerings in this category. In contrast, total sales of fashion jewellery saw a 6% decline, totalling $552 million.Cost Efficiency and Consumer AppealThe production of synthetic diamonds has become more efficient over the past five years, significantly reducing costs. This efficiency has allowed Signet to…

The National Association of Jewellers (NAJ) has launched a new educational course, JET Management and Leadership, aimed at equipping assistant managers and managers in the jewellery industry with essential leadership and management skills. This new qualification is part of the JET programme, known for its professional development courses within the sector.Expanding the JET ProgrammeBuilding on the JET Essentials, JET1, and JET2 courses, the JET Management and Leadership qualification advances career development for jewellery professionals. It integrates training from the existing JET Management and JET Business Development courses, providing a comprehensive approach to management education.Marie Garnett, Head of Education at NAJ, highlights…

Petra Diamonds and South Africa’s National Union of Mineworkers (NUM) have finalised a five-year wage agreement, effective from 1 July 2024 until 30 June 2029, applicable to Petra’s South African operations, including the Cullinan and Finsch mines.Details of the AgreementThe wage deal ensures annual salary increases for employees in the A and B Paterson bands. Specifically, the agreement stipulates:Petra CEO Richard Duffy commented, “We thank our partners in the NUM for their positive and constructive engagement in concluding this agreement against the backdrop of a challenging period for the industry. This allows for continued certainty on fixed labour costs at…

The Goldsmiths’ Centre in London has announced the selection of eight emerging jewellers and silversmiths for its free training programme, Spotlighting Getting Started. Now in its fourth year, the programme features Huimin Zhang, Sarah Louise McQuarrie, Alice Biolo, Rachael Plassard, Sarah Wilmott, Wenyin Jiang, Niamh Wright, and Aril Jewels (Chloë Woodmansterne and Kayla Rimmon), each of whom will receive training designed to help them apply fundamental business skills in their practices.Programme OverviewSpotlighting Getting Started is a follow-on training programme from Getting Started Online, aimed at early career makers in the UK’s jewellery and silversmithing industry. The programme provides participants with skills such…

JCK 2024 has concluded successfully, drawing approximately 30,000 industry professionals to The Venetian and The Venetian Expo in Las Vegas. Running from May 31 to June 3, with pre-show sessions starting on May 29, JCK featured over 1,900 exhibitors and 17,300 attendees, with various pavilions and educational tracks enhancing the experience.Educational ProgramsThe JCK Talks education program, which commenced a day before the main show, included new tracks such as Your Development, Business Management, and Sales. The “Social Stage” returned, focusing on content creation, data utilisation, and practical implementation. Notable keynotes featured Kyle Scheele, Henry Winkler, and Sugar Ray Leonard.Events and ActivationsThemed…

Diamonds Do Good (DDG) recently honoured key figures in the jewellery industry at their 2024 awards ceremony, held during the JCK show in Las Vegas from May 31 to June 3. Recipients were acknowledged for their significant contributions to the industry, particularly in demonstrating the interplay between business success and social responsibility.Award Recipients and Their ContributionsShiona Turini, Beyoncé’s stylist, received the Diamond Influence Award for her role in integrating diamonds into contemporary fashion. Turini’s influence in fashion has brought diamonds to the forefront of modern style, highlighting their relevance across different audiences.Other honourees included the Gemological Institute of America (GIA), luxury…

Sotheby’s has announced key leadership changes within its Watch Division, with Sam Hines and Geoff Hess appointed to new roles to guide the division’s future growth.Sam Hines Returns as ChairmanSam Hines is rejoining Sotheby’s as the chairman of the Watch Division. Hines, who began his career at Sotheby’s in 1997, has previously held positions at Phillips and Christie’s, and most recently served as managing director at Loupe This, an online watch auctioneer. His track record includes notable watch sales over the past 15 years, such as the sale of a stainless steel Patek Philippe Ref. 1518 for $11 million in…

De Beers Group has announced its support for the G7 sanctions on Russian diamonds, emphasizing the need for practical, industry-wide, and enforceable measures. The company has provided a detailed response to the requests from G7 governments, highlighting key areas for consideration.Timing and Adaptation PeriodThe proposed import restrictions on Russian diamonds, specifically those of 0.5 carats and above, are set to be implemented on 1 September 2024. However, De Beers advocates for a 12-month extension of the ‘sunrise period’ to September 2025. This extension is intended to give the diamond industry adequate time to adapt to the new certification and import requirements.Certification…

Innovative jeweller Shaun Leane has entered administration and is currently seeking buyers for its business and assets. Insolvency practitioners from Begbies Traynor have taken charge of the company’s affairs, with specialist auction house PDS Auctioneers & Valuers managing the sale process. Interested trade buyers have until 5 pm on Wednesday, 19th June to submit their offers.Business and Assets for SaleThe assets up for sale include approximately £800,000 worth of jewellery, a trademarked portfolio, a website and domain, a workshop and office facility, and showroom fixtures and fittings. The company, known for its innovative pieces and contemporary classic designs, generated around £3 million…

Signet Jewelers Ltd. faced a challenging first fiscal quarter, reflecting ongoing market conditions in the US. Despite this, the company remains resilient, with plans for future growth and strategic adjustments. The company, which owns major brands including Zales, Jared, and Kay Jewelers, released detailed financial results and future expectations in its recent press announcements.First Quarter Financial ResultsFor the 13 weeks ending May 4, Signet reported a 9% year-on-year decrease in revenue, totalling $1.51 billion. Same-store sales, measuring performance at locations open for at least a year, also fell by 9%. Net profit for the quarter dropped significantly by 47%, amounting to…

The Natural Diamond Council (NDC) has unveiled its latest campaign, “Real. Rare. Responsible,” featuring Emmy-nominated actress Lily James as the global ambassador, aiming to highlight sustainable practices within the natural diamond industry. The campaign is set to launch in late summer and will include a series of films, videos, and images showcasing the journey of natural diamonds.“Formed deep within the Earth billions of years ago, it was important that we capture natural diamonds in their natural element for our new campaign,” said David Kellie, NDC’s CEO. “Canada plays an integral role within the natural diamond industry. While people tend to more…

De Beers has announced it will stop producing synthetic diamonds for its Lightbox consumer brand as part of a strategic reorientation. Instead, the company will focus on manufacturing and selling natural polished diamonds.“We believe the value of lab-grown diamonds lies in technology rather than in jewellery,” stated Al Cook, De Beers CEO, during the company’s JCK Las Vegas breakfast event on Friday.Element Six ReorganisationThe company’s Element Six division will consolidate its three chemical vapour deposition (CVD) plants into a single $94 million facility in Portland, Oregon. This facility will become a technology hub dedicated to producing diamonds for industrial applications.“This starts…

Indian Lab Grown specialist Ethereal Green Diamond LLP  has announced the display of two significant lab-grown diamonds at the upcoming JCK Show in Las Vegas.The “Celebration of India,” a 75.33 carat square-emerald cut diamond, and the “Infinity Ring,” a unique 30.69 carat ring-shaped diamond, are both certified by the International Gemological Institute (IGI).Largest Lab-Grown Diamond to DateThe “Celebration of India” diamond, weighing 75.33 carats, has been identified as the world’s largest lab-grown diamond to date. The IGI graded the diamond as type IIa, noting its excellent polish and symmetry. The diamond’s creation process involved approximately 270 days of growth to…

The London Diamond Bourse (LDB) held its Annual General Meeting (AGM) on May 23rd, which marked a significant reshuffle within its leadership structure. The AGM saw the election of two new members to the Council of Management, alongside the departure of three long-serving members of the Executive Committee.Leadership ChangesAfter multiple terms as President, Alan Cohen has stepped down. David Troostwyk, who has served as co-president with Cohen for the past six months, will assume the presidency. Additionally, long-time Treasurer David Joffe, who dedicated thirty years to the role, and Trevor Sigsworth, a decade-long committee member, also stepped down.LDB President David Troostwyk…

The Natural Diamond Council (NDC) has announced a strategic partnership with Aurostar, a globally recognised diamond manufacturer. This collaboration is part of NDC’s Industry Partnership Program (IPP), which aims to promote responsible sourcing and community empowerment within the diamond industry.About AurostarAurostar, founded in 1966 and led by third-generation diamantaires, operates in multiple global locations including Dubai, Botswana, the USA, and Hong Kong. The company aims to integrate high social, ethical, and environmental standards into its operations to ensure the responsible sourcing of diamonds, including implementing initiatives in Botswana to support local talent and entrepreneurs, ensuring that the benefits of the diamond supply…

The Antwerp World Diamond Centre (AWDC) has issued a statement supporting the G7’s decision to ban Russian diamonds from entering the G7 and EU markets. In line with this, AWDC is advocating for a robust and traceable verification system to ensure ethical standards in the diamond industry. However, the organisation emphasises the need for additional verification points outside the G7 to ensure the smooth trade of non-sanctioned goods. Advocacy for African ProducersAWDC is actively participating in discussions with G7 and EU representatives to implement these measures. They propose the establishment of one or more rough diamond verification points outside the G7. This…

A new trade body aimed at promoting lab-grown diamonds has been launched: The Grown Diamond Trade Organization (GDTO).With a purview of supporting and transforming the lab-grown diamond sector, GTFO aims to address key industry concerns and offer new resources for stakeholders.“It’s time for lab-grown diamonds to have its own ecosystem,” stated Marty Hurwitz, GDTO’s executive director. “The consumer’s voice is loud and clear; we must organize to meet the growing demand and proudly differentiate from the traditional mined diamond institutions.”Addressing Certification CostsThe GDTO is responding to industry-wide concerns about the high costs associated with traditional diamond reports, which are particularly…

The Gemmological Association of Great Britain (Gem-A) has announced the resignation of Alan Hart as Chief Executive Officer. The Board of Directors has accepted Hart’s decision to step down after eight years in the role.Leadership TransitionThe Board and Trustees of Gem-A expressed gratitude for Hart’s contributions to the organisation. During his tenure, Hart provided leadership and expanded the organisation’s network. The Board extended their best wishes to Hart for his future endeavours.Continuing the MissionGem-A has reassured its members and students that its mission remains unchanged. The association will continue to focus on providing education and publications while fostering a strong…

The National Association of Jewellers (NAJ) has announced the opening of nominations for the 2024 NAJ Awards, aiming to honour talent within the UK jewellery industry by recognising individuals, teams, and businesses that show commitment to their trade and customers.Expanded Categories for 2024The NAJ has introduced five new categories for the 2024 awards: Community Engagement of the Year, Innovation of the Year, Collection of the Year, Unsung Hero of the Year, and Bespoke Retailer of the Year. Additionally, the Supplier of the Year category has been divided into two separate awards for product and service suppliers.Thematic PillarsThis year’s 15 categories…

The British Academy of Jewellery (BAJ) has announced the launch of a new Pearl Threading and Hanging Short Course, set to commence in June 2024. This one-day course aims to equip students with essential skills in pearl jewellery making, covering both theoretical and practical aspects.Course OverviewThe Pearl Threading and Hanging Short Course is designed to provide students with a comprehensive understanding of pearls, including the various types and their characteristics. Participants will learn to select suitable pearls for different designs and gain hands-on experience with the tools and materials used in pearl jewellery making.Skills DevelopmentUnder the guidance of jeweller Collette Waudby, students…

According to a report from Reuters, The United States is currently re-evaluating the stringent aspects of a Group of Seven (G7) ban on Russian diamonds, following significant resistance from African countries, Indian gem polishers, and jewelers in New York.This reconsideration comes after the December sanctions package aimed at reducing a revenue stream for Russia amidst its ongoing conflict with Ukraine.Background and Industry Impact Since March, diamond importers to G7 countries have been required to self-certify that their diamonds do not originate from Russia, the world’s largest producer of rough diamonds. Direct imports of Russian gems were banned earlier in January.A critical…

Richemont has announced the appointment of Nicolas Bos as the new Chief Executive Officer, effective 1 June 2024. Mr Bos, who is currently the CEO of Van Cleef & Arpels, will assume a re-established role, reporting to Johann Rupert, Chairman of Richemont. In his new position, Mr Bos will oversee all Maisons, functions, and regions within the group, including key areas such as Jewellery Maisons, Finance, and Human Resources.Johann Rupert, Chairman of Richemont, commented on the appointment: “I am truly delighted that Nicolas has accepted to assume the re-established role of Chief Executive Officer of Richemont. His vision and ability to uphold…

The World Federation of Diamond Bourses (WFDB) and the Shanghai Diamond Exchange (SDE) have signed a Memorandum of Understanding (MoU) aimed at promoting the natural diamond market in China. This agreement follows meetings held during the WFDB Presidents’ Meeting in Shanghai in March, where WFDB leaders and Chinese government officials discussed initiatives to invigorate the Chinese diamond marketObjectives of the MoUThe MoU aims to enhance collaboration through joint events, marketing campaigns, and bilateral visits. The WFDB will open a representative office within the China Diamond Center, while the SDE will work on advancing the local diamond industry.WFDB President Yoram Dvash highlighted…

The Goldsmiths’ Company has announced the appointment of Richard Reid as its 697th Prime Warden, succeeding Charles Mackworth-Young CVO. Reid, a seasoned professional with a strong background in finance and community engagement, brings extensive experience to his new role.Professional BackgroundReid’s career began with vocational training in accountancy at Dixon Wilson, later moving to Peat Marwick in 1980 before its merger with KPMG. Rising to the position of partner in 1991, he eventually became Chairman of KPMG London, a role he held from 2007 until his retirement in 2015. Throughout his tenure, Reid was involved in various community-focused initiatives, including serving as…

Michael Donaldson, JET Business Network Facilitator and host of the upcoming Retail Jewellers’ Congress, emphasises the urgent need for jewellery retailers to adopt new strategies in order to thrive in an evolving retail environment. The Congress will be held on June 24, 2024, during the NAJ Summit in Birmingham.Adapting to a Changing Retail LandscapeAhead of the conference, Donaldson highlights the stark realities facing the jewellery retail sector. He notes that traditional business models and strategies are increasingly ineffective in the current market. “Our thinking must change if we are to survive and thrive in the changing world of jewellery retailing!”…

The British Academy of Jewellery (BAJ) is partnering with JewelleryMaker to organise what could become the world’s largest jewellery making session via Zoom. The event is scheduled for Friday, 31st May at 10:00 AM and aims to connect jewellery makers of varying experience levels from around the globe.Event Details and ParticipationParticipants are required to register in advance, selecting their preferred location for crafting. Prior to the event, a Zoom link will be sent to all registered attendees. BAJ is also offering on-site participation at its London workshops, where attendees can enhance their craft under professional guidance.”Jewellery Making is an incredibly passionate,…

Anglo American, the UK-based mining giant, has outlined plans to divest significant parts of its business, including business De Beers and its platinum arm, Anglo American Platinum (Amplats). This decision follows the rejection of a £34 billion takeover bid from BHP and aims to streamline the company’s operations to focus on core assets such as copper, iron ore, and crop nutrients.Comprehensive Breakdown of the Divestiture PlanThe restructuring plan includes the divestiture of De Beers and Amplats, alongside Anglo American’s steelmaking coal assets. These sales are part of a broader strategy to concentrate on commodities with strong growth prospects and higher profit…