Author: Ruchi Singla

The European Union has confirmed that polished diamonds will not be subject to retaliatory import tariffs in response to new US trade duties, following concerns raised by the Antwerp World Diamond Centre (AWDC) about the potential impact on Belgium’s diamond sector.Context of the Tariff DisputeThe EU’s announcement comes amid broader trade tensions, as the United States moves forward with a revised tariff policy. As of 9 April, the US administration introduced a 90-day tariff pause for most countries, excluding China, while raising tariffs on Chinese goods to 125%. Although the EU had considered reciprocal measures, polished diamonds have been excluded…

Russia and Belarus have announced plans to launch a joint platform for jewellery exports, focusing on markets including China, the UAE, Vietnam, and Southeast Asia. The plan was confirmed after a meeting between Russia’s Deputy Finance Minister Alexei Moiseyev and Belarus’s Finance Minister Yuri Seliverstov in Minsk on 4 April.Marketplace Development and ScopeThe project, due to launch in test mode later in 2025, will offer a shared online platform for exporting jewellery from both countries. The Eurasian Development Bank, co-founded by Russia and Kazakhstan, is supporting the initiative.”A marketplace for the sale of Belarusian and Russian jewelry on foreign markets…

The Gemological Institute of America (GIA) has broadened the scope of services offered at its Hong Kong and Dubai laboratories in response to new U.S. tariffs and the associated logistical challenges. The changes affect where larger and fancy colour diamonds can be submitted for grading, in light of new U.S. import duties.Expanded Carat Limits in Hong Kong and DubaiEffective immediately, GIA’s Hong Kong and Dubai labs will accept D-Z colour, rough or polished diamonds weighing up to 9.99 carats. This is a significant increase from the previous maximum submission weight of 3.99 carats for both locations. In addition, Hong Kong…

De Beers Group has announced plans to allocate its highest level of category marketing spend in 10 years to support natural diamond promotion. The company has stated it will match financial contributions from national marketing initiatives during 2025 and is inviting proposals from stakeholders across the industry.Joint Efforts with Industry OrganisationsDe Beers is working with a number of trade bodies, including the Antwerp World Diamond Centre (AWDC), the Gem and Jewellery Export Promotion Council (GJEPC), and the Dubai Multi Commodities Centre (DMCC), to support marketing campaigns for natural diamonds in various regions.The company has confirmed that strategic campaigns have already…

The United States’ recent decision to impose sweeping import tariff increases—part of a broader strategy dubbed “Make America Wealthy Again”—is poised to trigger substantial shifts across the global gem and jewellery supply chain. With new tariff rates varying by country, and India facing a 26% import duty on jewellery, industry leaders are warning of rising costs, disrupted trade flows, and potential relocation of manufacturing operations to mitigate the impact.Overview of the New Tariff PolicyAnnounced in April 2025, the new US tariff structure affects jewellery imports from a range of key suppliers. Rates differ by trading partner, with the European Union…

The National Association of Jewellers (NAJ) has confirmed the keynote speakers and opened registration for the 2025 Valuers’ Conference, which will take place on 7–8 June at the Edgbaston Park Hotel in Birmingham. Bonhams is the headline sponsor.The event will include a programme of presentations, workshops and masterclasses aimed at professionals across the jewellery sector, including valuers, retailers, designers, students and sales professionals seeking to update or broaden their expertise.Keynote Speakers Announced for 7 JuneThe opening day will feature six keynote presentations from professionals covering areas including auction trends, gemmological research, cultural valuation and market analysis:Workshops and Masterclasses on Day…

Jewellery and watch retailers reported an increase in sales volumes in February 2025, according to new data from the Office for National Statistics (ONS). The sub-sector was identified within the ‘other non-food stores’ category as having contributed to monthly growth, with retailers attributing the rise to increased consumer demand for gold during a period of economic uncertainty.This performance formed part of a wider 3.1% increase in non-food store sales volumes, which includes department stores, clothing, household goods, and other non-food retailers. Monthly retail sales volumes in February were at their highest level since July 2022, following a 1.4% increase in…

Jewellery dating from the medieval and early modern periods, discovered by metal detectorists, featured in the Jewellery, Watches, and Objects of Vertu auction held by Noonans Mayfair on 27 March in London. The sale included items of historical significance, such as a 17th-century memorial ring linked to a judge involved in England’s final witch trials, a medieval bishop’s sapphire ring, and a 13th–14th century gold posy ring.Memorial Ring Linked to Witch Trial Judge Fails to SellA late 17th-century memorial ring, found by detectorist Steve Pulley in January 2020, was among the more historically significant lots. The piece, crafted in gold and…

Anglo American has entered preliminary discussions with banks regarding a potential initial public offering (IPO) of its diamond unit, De Beers. The move forms part of a broader restructuring initiative announced last year by Anglo American CEO Duncan Wanblad, as the company seeks to divest from non-core assets and focus on higher-growth sectors. Alongside the IPO preparations, Anglo is simultaneously exploring the possibility of an outright sale of De Beers.De Beers: Final Step in Anglo’s Asset DivestmentDe Beers is the last major business unit in Anglo American’s planned exit from several commodity sectors. Since announcing its restructuring, the company has divested…

The International Colored Gemstone Association (ICA) has confirmed a lineup of speakers for its upcoming Congress, to be held in Brasília, Brazil, from 19–22 May 2025. Susan Jacques, President and CEO of the Gemological Institute of America (GIA), and Dr Gaetano Cavalieri, President of CIBJO, the World Jewellery Confederation, are confirmed speakers for the event. The Congress will be hosted by IBGM Brazil at the Royal Tulip Brasília Alvorada, a venue located in one of the world’s leading gemstone-producing regions.Seminar Focus: “Gems for Generations”The theme of the 2025 ICA Congress is “Gems for Generations”, reflecting a focus on long-term sustainability and…

India’s gem sector is preparing for potential US tariffs on exports of polished diamonds and jewellery, which could come into effect on 2 April 2025. The move forms part of wider reciprocal trade measures under consideration by the US government, with India’s Gem & Jewellery Export Promotion Council (GJEPC) currently in contact with industry stakeholders and government officials to assess the likely impact and seek possible solutions.Export Concerns Amid UncertaintyThe United States is India’s largest market for polished diamonds, with gross exports totalling $6.69 billion in 2024, according to data from the United States International Trade Commission. Currently, loose polished diamonds…

Jewellery company Ethica Diamonds has partnered with the Born Free Foundation and its ambassador Joanna Lumley to create a bespoke pendant that raised £10,000 at a charity auction in London.The pendant was designed by Ethica Diamonds’ in-house designer Laura Basham, with input from Joanna Lumley. It features 3.65 carats of green lab-grown diamonds and 2.04 carats of light blue lab-grown sapphires, set in recycled yellow gold. The piece was developed in line with both organisations’ environmental themes, using materials selected for their lower environmental impact.Supporting Wildlife ConservationThe Born Free Foundation is an international wildlife charity focused on conservation, rescue, and…

The Natural Diamond Council (NDC) has published a new report, Diamonds of Botswana, providing an overview of the diamond industry’s role in Botswana’s national development. The report follows previous NDC publications examining the role of natural diamonds in producing countries.It outlines developments in Botswana since the discovery of diamonds in the 1960s, focusing on how diamond revenues have contributed to infrastructure, education, healthcare and environmental programmes.Economic Impact and Revenue DistributionNatural diamonds represent a significant portion of Botswana’s economy, accounting for around 25% of the country’s GDP, 80% of its exports, and approximately one-third of its fiscal revenue. The report states…

The National Association of Jewellers (NAJ) has announced the first confirmed speakers for its 2025 Retail Congress, which will take place on Tuesday, 3 June at Drayton Manor Resort. Organised by the NAJ’s JET Business Network (JBN), the one-day event will follow the theme “Lessons from the Best in Class.”Retail Congress is positioned as a platform for independent jewellers to gain insight from peers and professionals across the wider business landscape, focusing on practical approaches to core commercial functions. Areas to be covered this year include sales, marketing, leadership, differentiation, and customer experience.First Speakers ConfirmedThe initial line-up features several JBN…

The World Jewellery Confederation (CIBJO) has released a recommended definition of “recycled gold” for use in the jewellery and watch sectors – an initiative that seeks to bring greater consistency to terminology used in the industry and in the market more broadly.The new definition, which will be included in CIBJO’s guidance documents, distinguishes between pre-consumer and post-consumer recycled gold. It excludes gold in the form of investment products such as bullion bars and investment coins, unless that gold is entirely produced from qualifying recycled sources.Clarifying Terminology and CriteriaThe definition was developed through discussions with industry experts and with input from the…

Signet Jewelers has announced a multi-year restructuring strategy under the name “Grow Brand Love,” which includes store closures, operational consolidation, brand realignment, and leadership changes. The plan follows a period of declining sales and profitability for the company, which operates brands including Kay Jewelers, Zales, Jared, Blue Nile, and James Allen.Store Network Under ReviewSignet plans to evaluate approximately 150 underperforming stores for potential closure over the next two years. In addition, the company has identified close to 200 locations that, while currently performing well, are situated in what it considers declining retail environments. These stores may be relocated to off-mall…

Watches of Switzerland Group (WoSG) has announced the commencement of a share buyback programme worth up to £25 million. The buyback, conducted in partnership with Barclays Bank PLC, will reduce the number of shares in circulation.The move follows the group’s December 2024 refinancing, which provided an additional £50 million in liquidity headroom, bringing the total available facility to £150 million. WoSG stated that its investment strategy, including showroom upgrades, new projects, and acquisitions, remains unchanged.Strategic Approach to Capital AllocationIn a statement to the London Stock Exchange, WoSG reiterated its approach to capital allocation, prioritising investment in business growth before returning…

Frédéric Arnault, son of LVMH chairman Bernard Arnault, has been appointed CEO of Italian luxury brand Loro Piana. His appointment is part of a series of leadership changes at LVMH as the company adjusts its management structure. Arnault previously served as CEO of TAG Heuer from 2020 before being promoted to head LVMH’s watch division in early 2024.His departure from the watches segment follows a 2% decline in revenue and a 28% drop in profit from recurring operations in 2024. While no successor has been announced for his previous role, Stéphane Bianchi remains CEO of LVMH Watches & Jewellery, overseeing brands…

Luxury jeweller Boodles has partnered with specialist insurer Stanhope to provide customers with 14 days of complimentary worldwide insurance coverage on jewellery purchases. Comprehensive Coverage from Day OneUnder the scheme, Boodles customers receive automatic insurance for jewellery purchases valued at up to £500,000. The cover includes protection against loss, theft, accidental damage, and fire. Unlike many home contents insurance policies, which may exclude high-value jewellery or require additional policy adjustments, this initiative provides immediate protection without delays.Expansion Following Successful TrialThe insurance offering was first trialled at a Boodles flagship boutique. Following positive customer feedback, it has now been rolled out across…

The National Association of Jewellers (NAJ) has confirmed that the 2025 Valuers’ Conference, hosted by the Institute of Registered Valuers (IRV), will take place on 7th and 8th June at Edgbaston Park Hotel, Birmingham. Auction house Bonhams has been named as the headline sponsor for the event.Conference Structure and Key FeaturesThe Valuers’ Conference is designed for jewellery valuers and gemmologists, featuring a mix of keynote talks, workshops, and networking opportunities.A gala dinner will follow Saturday’s presentations, where the recipient of the David Wilkins Award will be announced. The dinner will provide an opportunity for networking among attendees.Bonhams’ Role as Headline…

The National Association of Jewellers (NAJ) has announced that the JET Business Network (JBN) will host its 16th Annual Retail Congress on Tuesday, 3rd June 2025. This year, the event will be held at Drayton Manor Resort in Tamworth, with the theme “Lessons from the Best in Class.”The congress will feature business owners from both within and outside the jewellery industry, sharing insights on key commercial topics such as sales, marketing, leadership, differentiation, and retail as a destination.Networking OpportunitiesA pre-Congress networking dinner will take place on the evening of Monday, 2nd June, offering attendees the opportunity to connect ahead of the…

A man has been arrested in Florida for stealing and swallowing more than $700,000 worth of jewellery from Tiffany & Co. in Orlando. Jaythan Gilder, 32, allegedly posed as a representative for an NBA player to gain access to high-value pieces before attempting to escape with them.Incident DetailsOn 26 February, Gilder entered the store at a shopping mall in Orlando and was taken to a private room to view two pairs of diamond earrings and a diamond ring, with a combined value exceeding $1 million. He told store staff he was negotiating on behalf of a player from the Orlando Magic.During…

LAPADA Berkeley Square Fair has announced a new partnership with Haute Jewels, marking the high jewellery collective’s first dedicated presence in London. The collaboration will bring a curated selection of international haute joaillerie to the fair, which runs from 29 October – 2 November 2025, with a preview on 28 October. The annual LAPADA Berkeley Square Fair, held in Mayfair, is a key event for fine art, antiques, and design. It features over 100 specialist dealers presenting a range of works, from antiquities and jewellery to contemporary art and furniture. The addition of Haute Jewels introduces a high jewellery segment to the…

Bristol jewellery studio Silver & Steel has been named a finalist in the Green Growth Awards, a national competition recognising small businesses that have integrated sustainability into their operations to support business growth.Launched by Small Business Britain in partnership with BT, the awards will provide two £5,000 sustainability grants to businesses that have successfully boosted their bottom line by implementing environmentally responsible initiatives.Sustainable Practices in Jewellery MakingSilver & Steel, founded in 2023 by Bethany Morton, was selected for its approach to sustainability in jewellery production. The studio uses recycled metals, promotes designers working with post-consumer and ethically sourced materials, reduces…

A shipment of earrings containing illegal levels of cadmium and nickel has been seized at London Stansted Airport during a routine inspection. Essex Trading Standards reported that one design exceeded the legal cadmium limit by more than 7,000 times.Health Risks of Cadmium and Nickel in JewelleryCadmium is a toxic heavy metal that can be used in jewellery as a coating, alloying agent, or pigment. Long-term exposure is associated with kidney damage, lung damage, and an increased risk of cancer. Nickel, which was also present in the seized jewellery, is a common cause of allergic reactions, including skin rashes, redness, and…

Sightholders at De Beers’ February sales cycle reported a reduced supply of rough diamonds over five carats, citing production declines and De Beers’ inventory management strategy. Prices remained stable across most categories as the company continued its approach of regulating supply.Market observers noted that this shortage contrasts with De Beers’ reported inventory levels, estimated at around $2 billion—its highest since 2008. However, much of this stock is believed to consist of smaller-sized goods rather than the larger diamonds currently in short supply.Production Declines and Supply ManagementDe Beers’ total rough diamond production fell by 22% in 2024 to 24.7 million carats. The…

The British Retail Consortium (BRC) has raised concerns over the potential loss of up to 160,000 part-time jobs in the retail sector over the next three years. The industry body attributes this risk to increasing employment costs stemming from recent Budget measures and proposed regulatory changes.Retail currently employs over 1.5 million part-time workers, more than half of the sector’s total workforce. Many of these roles are filled by students, parents, and seasonal workers. The BRC warns that rising employment costs could lead to a reduction in these jobs over the coming years.Changes to Employer NICs and Their Effect on EmploymentOne…

Platinum Guild International Hong Kong Limited (PGI) has joined the Watch and Jewellery Initiative 2030 (WJI 2030) as an affiliate member. WJI 2030, based in Geneva, was founded in 2022 by luxury groups Kering and Cartier, with delegation from Richemont. The initiative aims to promote sustainability in the watch and jewellery industry through collaboration across the supply chain.PGI’s Chief Executive Officer, Tim Schlick, noted that the affiliation aligns with the organisation’s ongoing efforts in sustainability, stating:“WJI 2030 brings together businesses across the watch and jewellery supply chain to navigate evolving regulations. Their objectives align with those of PGI and its retail…

Beaverbrooks has announced the closure of seven stores across the UK, citing commercial viability concerns. The closures will take place between March and April 2025, following a business performance review.Store Closures and TimelineBeaverbrooks, which operates 89 stores across the UK, will reduce its store count to 82. The affected stores include five in England and two in Scotland.The scheduled closure dates are as follows:Scotland:England:Company Performance and Strategic DecisionsBeaverbrooks reported a turnover of £228.6 million for the financial year ending February 2024, with operating profit declining to £10.5 million due to increased costs and ongoing investment.Managing Director Anna Blackburn commented on…

Sarine Technologies Ltd and De Beers Group subsidiary Tracr have signed a collaboration agreement to enhance technology-driven diamond traceability. The partnership will integrate Tracr’s blockchain-based tracking system with Sarine’s scanning and identification technology to provide an unbroken chain of verification from rough diamond registration to polished stone.Blockchain Integration for Verifiable ProvenanceSarine’s Diamond Journey traceability system will now incorporate rough diamond origin data recorded on Tracr, which logs stones at the source. The integration is intended to enhance supply chain transparency by using an automated verification process rather than relying solely on company declarations.A key aspect of this initiative is the availability…