Author: Ruchi Singla

The Watches of Switzerland Group has been announced as the headline sponsor for The King’s Trust 2025 Change a Girl’s Life campaign, as part of its wider charitable initiatives. The campaign, which coincides with International Women’s Day on 8th March 2025, aims to raise funds to provide young women with employment opportunities, training, and business development support. Throughout March, The King’s Trust will collaborate with corporate partners to increase engagement and fundraising efforts. Fundraising Events and Retailer Contributions On 6th March 2025, the Watches of Switzerland Group will support the initiative by hosting Brilliant Breakfast fundraising events across its UK…

A new digital platform, CiviGem, has been launched to facilitate networking, collaboration, and information-sharing among professionals in the diamond and jewellery industry. Originally developed for the London Diamond Bourse (LDB), the platform has been expanded to serve the wider trade. According to David Troostwyk, President of the LDB and founder of CiviGem, the initiative addresses longstanding challenges in industry connectivity. “As someone who has spent years working across different facets of the trade—from mining to manufacturing to retail—I’ve seen firsthand how disconnected the industry can be. CiviGem is about breaking down those barriers, making us all stronger, louder, and more…

The diamond market saw subdued trading in January, with mixed reports on holiday sales, according to Rapaport. While demand remained weak, there were signs of stability in certain categories, including 0.30- to 0.50-carat, D to F, IF to VVS2 diamonds. Larger fancy-shape diamonds of 3 carats and above also performed relatively better. Market Performance and Price Trends The RapNet Diamond Index (RAPI™) for 1-carat diamonds, covering round, D to H, IF to VS2 stones, fell by 2.3% in January. Smaller diamonds saw more modest declines, with the index for 0.30-carat and 0.50-carat diamonds down 0.4% and 0.6%, respectively. Prices for…

The Natural Diamond Council (NDC) has launched a series of reports on the natural diamond industry, covering market trends, origins, and sustainability. Consumer Trends in the U.S. Market The first report in the series, Natural Diamond Trends, A 2024 Overview, was developed in partnership with trend analytics firm Tenoris. It examines key trends in U.S. consumer preferences for natural diamonds. Key findings include: Diamond Facts Report Addresses Industry Misconceptions The NDC has also released an updated Diamond Facts report, which presents data from external sources to clarify common misconceptions about the diamond industry. It covers: Canada’s Role in the Natural…

Hockley Mint has secured a £53,000 grant to support sustainability initiatives as part of a broader £106,000 project. The funding will be used to install eco-friendly boilers and air-conditioning units at its facilities, aiming to reduce carbon emissions, lower energy consumption and improve working conditions. Ongoing Sustainability Measures This investment adds to Hockley Mint’s existing environmental initiatives. The company has previously installed 460 solar panels, a 60,000-litre rainwater harvesting system, and upgraded insulation to improve energy efficiency. It has also adopted digital operations, refined manufacturing processes to reduce waste, and transitioned its sales team to fully electric vehicles. Employee Ownership…

The Company of Master Jewellers (CMJ) has launched a new vodcast series, CMJ Presents…, designed to provide industry insights, data, and expert analysis for the jewellery and watch trade. The series is hosted on CMJ’s YouTube channel and aims to support independent jewellers by sharing best practices, trend analysis, and member perspectives. Key Themes and Initial Episodes Each episode of CMJ Presents… focuses on different aspects of the industry, including market trends, business strategies, and insights from CMJ members. The first two episodes are now available online. The debut episode, CMJ Presents… Christmas Retail Insights, features CMJ’s director of membership…

The International Gemological Institute (IGI) USA has introduced GemPass, a new bundled certification package for coloured gemstones, at the AGTA GemFair, GJX, and Out of the Jewel Box (OJB Experience) trade shows in Tucson, Arizona. The initiative is designed to offer wholesalers a structured way to obtain gemstone reports in bulk at a reduced cost. Flexible Bundles for Coloured Gem Certification GemPass allows clients to purchase 50 or 100 coloured gemstone reports at a set price per report, regardless of the stone’s carat weight or type. The pricing model provides savings compared to individual report purchases, and bundles remain valid…

India has become the world’s largest consumer of gold jewellery, surpassing China with total consumption of 563.4 tonnes in 2024. In comparison, China recorded 511.4 tonnes during the same period. According to the World Gold Council (WGC), India’s total gold demand, including both jewellery and investment purchases, rose by 5% year-on-year to 802.8 tonnes in 2024, up from 761 tonnes in 2023. The WGC projects that gold consumption in India for 2025 will range between 700 and 800 tonnes. Gold Demand and Price Trends The total value of gold demand in India increased by 31% in 2024, reaching ₹5,15,390 crore,…

A court has heard claims that the theft of £1.38 million worth of watches from London retailer 247 Kettles was staged, with all participants allegedly aware of the plan. Two men, Junior Kunu, 30, and Mannix Pedro, 37, deny charges of conspiracy to commit robbery in connection with the incident on 25 May 2024. The store manager, Oliver White, died by suicide the following day. Defendant Claims Robbery Was an Insurance Scam At Woolwich Crown Court, Kunu testified that he was offered £5,000 to take part in what he believed was a staged robbery. He said he was informed by…

Mastercard will remove the 16-digit card number from credit and debit cards by 2030, replacing it with tokenisation and biometric authentication to improve payment security. Tokenisation replaces a card number with a unique digital identifier stored on a user’s device, reducing the risk of sensitive data being exposed during transactions. Biometric authentication, such as fingerprint or facial recognition, will also be used to verify transactions. Addressing Payment Fraud The decision to eliminate card numbers follows rising fraud levels globally. Card-not-present fraud, where stolen card details are used for unauthorised online or phone transactions, accounts for a significant proportion of payment…

The British Academy of Jewellery (BAJ) Birmingham held its annual Graduate Exhibition and Awards Evening on 29 January at the Birmingham Assay Office. The event featured work from graduates of the Level 3 Jewellery Design and Manufacturing Diploma and the Jewellery Apprenticeship courses, with pieces including Mandala Domed Pendants, Stacking Rings, and Laser-Cut Acrylic projects. Recognising Student Achievement More than 70 attendees, including students, alumni, and industry professionals, gathered to view the graduates’ work and celebrate their accomplishments. BAJ alumna Tabitha Sullivan, founder of Tabi DSGN, addressed the audience, sharing insights into her career since graduating. She reflected on the…

The Indian government has removed import duties on seeds used in lab-grown diamond production and lowered tariffs on certain precious metals in a move intended to support the domestic gem and jewellery industry. Impact on Lab-Grown Diamond Manufacturing Importers were previously required to pay customs duties on seeds used to create rough synthetic diamonds. The removal of this requirement will remain in effect until March 2026, a move expected to benefit India’s lab-grown diamond sector. Vipul Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), commented on the decision, stating, “The removal of this condition until March 2026…

The Gemological Institute of America (GIA) has completed its 100th field gemmology expedition with the landmark trip taking GIA researchers to Kenya and Tanzania, where they collected tsavorite, spinel, and sapphire rough. The field gemmology programme contributes to GIA’s growing database on the chemical, geological, and gemmological properties of coloured stones. Expanding GIA’s Coloured Stone Database During the expedition, GIA field gemmologists collected over 15 kilograms of gem rough, including more than 10,000 carats of individual sapphires from Garba Tula, Kenya. Each sample’s origin was verified and recorded. “Our extensive field gemmology programme is the foundation of our coloured stone…

Swiss watch exports fell by 2.8% in 2024, with total shipments amounting to CHF 25.99 billion, primarily due to weaker demand in China and Hong Kong. According to the Federation of the Swiss Watch Industry, the downturn worsened in December, when exports dropped by 5% year-on-year to CHF 2.03 billion The four largest markets for Swiss watches—the United States, Hong Kong, China, and Japan— all recorded lower demand in December. Exports to China saw the sharpest decline, falling 19% to CHF 151.2 million, while shipments to Hong Kong dropped 6% to CHF 159.1 million. The US, the top export destination,…

The Responsible Jewellery Council (RJC) has announced that Executive Director Melanie Grant is stepping down after two years in the role. John Hall, who has been involved with the organisation since its inception in 2005, will serve as interim executive director while a search for Grant’s successor is conducted. Grant will remain temporarily as a consultant to assist with the transition. Leadership Transition at RJC Grant took over as executive director in January 2023, following a ten-month period without a permanent leader after the resignation of Iris Van der Veken. During her tenure, RJC membership grew from just under 1,700…

The United States will require diamond importers to declare the country of mining origin for all shipments entering the country, according to a notice from US Customs and Border Protection (CBP). This measure, intended to strengthen enforcement of sanctions on Russian goods, will take effect in April 2025. CBP outlined the requirement in a Trade User Information Notice dated January 14, 2025, which was distributed on January 23. The rule builds on existing restrictions that prohibit the import of Russian nonindustrial diamonds weighing 0.50 carats or more, in effect since September 1, 2024. Details of the New Import Declaration Rule…

De Beers Group and the Government of Botswana have concluded negotiations on a new 10-year sales agreement for rough diamonds from Debswana, their 50:50 joint venture. The deal, which also includes an extension of Debswana’s mining licences, follows a lengthy negotiation process that began in 2019 and saw multiple extensions of the previous agreement. Key Terms of the Agreement Under the new agreement, the Botswana government’s state-owned diamond trader, Okavango Diamond Company (ODC), will initially receive 30% of Debswana’s rough diamond production. This share will gradually increase to 50% by the end of the contract in 2035. Debswana, which operates…

The prices of fancy-colour diamonds fell by 2.2% in 2024, reflecting a slowdown in the luxury sector and broader economic challenges, according to the Fancy Color Research Foundation (FCRF). Yellow Diamonds See the Largest Price Drop Yellow fancy-colour diamonds saw the steepest decline, with prices dropping by 5.6% over the year. This category also accounted for all of the top five price decreases in the fourth quarter, with an overall quarterly drop of 2.2%. Among yellow diamonds, 2-carat fancy-intense stones saw the biggest decline, down 3.6% in the final quarter. Other decreases included a 3% drop in 3-carat fancy-vivid-yellow diamonds…

Danish fine jewellery brand Elhanati has announced a partnership with Botswanamark, a natural diamond provenance programme, for its latest collection, Octopus Diamond Temple. The collection, which includes three handcrafted designs in 18ct yellow gold, reflects the brand’s focus on ethical sourcing and supply chain transparency. Octopus Diamond Temple Collection The collection includes three handcrafted pieces designed by founder Orit Elhanati, featuring motifs inspired by an underwater theme. Each piece incorporates Botswanamark diamonds, ensuring traceability. Commitment to Ethical Sourcing The collaboration with Botswanamark aligns with Elhanati’s goal of ensuring that all diamonds used in its creations are responsibly sourced. Botswanamark offers…

Spring Fair, the UK’s largest retail trade event, is running a Golden Ticket competition for its 2025 edition. Taking place from February 2 to February 5 at NEC Birmingham, the show will bring together home, gift, and fashion retailers and suppliers. With the event approaching, visitors who pre-register can enter a draw to win one of five Golden Ticket VIP packages, each worth £750. Golden Ticket Package Details The Golden Ticket package includes: The competition closes on Thursday, January 30 at 11:59 pm. Spring Fair 2025 Overview Spring Fair hosts over 1,200 exhibitors across 12 buying destinations, presenting over one…

Jemora Gemhouse, a new auction house specialising in rare and high-value polished coloured gemstones, has been unveiled in Dubai. The platform is led by Dev Shetty, whose previous experience includes the sale of the 55.22-carat “Estrela de Fura Ruby” for $35 million, as well as leadership roles at Gemfields and Fura Gems. Upcoming Auction The inaugural auction is scheduled for 17–19 March 2025 at the Dubai Diamond Exchange (DDE), part of the Dubai Multi Commodities Centre (DMCC). The Dubai Diamond Exchange, which supports over 1,350 companies, has hosted significant gemstone tenders in recent years. The event will focus on sapphires…

The London Diamond Bourse (LDB) recently welcomed industry professionals, GIA students, and members for a presentation by Rosamond Clayton, a leading expert in jewellery valuation, to focus on the career path of becoming a Registered Valuer through the National Association of Jewellers’ (NAJ) Institute of Registered Valuers (IRV). Rosamond Clayton’s presentation covered critical aspects of the profession, including the NAJ IRV Code of Conduct, professional codes of practice, and the steps required to join the NAJ IRV. She emphasised the role of these standards in ensuring legal compliance and supporting profitability. Aspiring valuers gained insights into the diverse skills required,…

The British Academy of Jewellery (BAJ) remains unaffected by the administration of its parent company, Free To Learn (F2L). While F2L has ceased operations following the termination of its government-funded adult education contracts, BAJ continues to deliver its apprenticeships, diplomas, and degree programmes in jewellery design and manufacturing. The Background to F2L’s Administration Free To Learn was established in 2010 and grew rapidly, securing more than £20 million in public funding between 2019 and 2023 to deliver Adult Education Budget (AEB) courses. The organisation employed over 100 staff and worked on both direct contracts and subcontracted arrangements. Difficulties arose after…

The Rical Group, a Smethwick-based manufacturing business with nearly 200 years of history, has entered administration, placing 185 jobs at risk. The company operates across several industries, including jewellery, automotive, defence, construction, and catering, with its subsidiaries Priory Products and H.A. Light Findings serving as key suppliers to the jewellery sector. Evelyn Partners has been appointed as administrators for the group. A Legacy in Manufacturing Founded in 1824 by William Mitchell, the Rical Group began as a presswork company producing metal pen nibs. Over time, it expanded its operations to provide fine blanking, metal pressings, and component fabrication for a…

Pandora has been named one of the 100 most sustainable companies in the world by Corporate Knights at the World Economic Forum in Davos, Switzerland. The annual Global 100 ranking evaluates companies with over USD 1 billion in revenue based on 25 performance indicators across sustainability, resource management, and corporate governance. Pandora, ranked 48th overall and 2nd in the “Textiles, Apparel and Luxury Goods” category, was recognised for its sustainable business practices, including its use of recycled silver, gold, and lab-grown diamonds. Environmental and Sustainability Highlights Corporate Knights noted Pandora’s environmental efforts, including reductions in CO2 emissions and its use…

The Company of Master Jewellers (CMJ) has reported a 6.5% year-on-year increase in group sales during the “golden quarter” from September to December 2024, underscoring strong buyer confidence among its independent retail members ahead of the festive season. A survey conducted by CMJ among its retailer members revealed that 71% experienced higher sales over Christmas compared to the same period in 2023. Stock sell-through figures in early January 2025 further confirmed a robust Christmas trading period for members. Key Role of the CMJ Autumn Trade Event The CMJ Autumn Trade Event was instrumental in the quarter’s performance, particularly through the…

AG Group has officially opened its in-house Assay Office at its Hertfordshire headquarters, marking a significant milestone for the business. The facility, established in partnership with the Sheffield Assay Office, will allow the group to carry out hallmarking for fine jewellery, including wedding and engagement rings, at its headquarters. The inaugural event was attended by Ashley Carson, Assay Master and Chief Executive of the Sheffield Assay Office, along with other industry representatives. A Historic First Hallmark The first piece hallmarked at the new facility was a triple-row diamond-set band, handcrafted by Brown & Newirth for Wendy Laing, owner of Laings…

India’s polished diamond export sector showed some signs of stabilisation in December 2024, according to data from the Gems and Jewellery Export Promotion Council (GJEPC). Gross polished diamond exports for the month totalled $773 million, a year-on-year decline of 10.4 per cent compared to December 2023. However, this marked an improvement from November 2024, which saw a sharp 40 per cent year-on-year drop to $660 million. Export Performance Trends December’s figures indicated a partial recovery following months of volatility in 2024. In October, the sector experienced a year-on-year increase of 11.3 per cent, with export sales exceeding $1.4 billion. This…

Richemont, owner of brands such as Cartier, Van Cleef & Arpels, Buccellati and Vhernier, achieved record sales in the third quarter of the financial year ending 31 December 2024. Total revenue increased by 10% year-on-year to €6.15 billion (£5.23 billion), with its jewellery division driving much of the growth. Jewellery sales rose 14% to €4.5 billion, accounting for 71% of Richemont’s total revenue. Regional Sales Breakdown While global performance was positive, regional trends varied. Sales in the Americas grew by 22% to €1.6 billion, supported by improved consumer confidence and luxury market performance. In Europe, revenues increased by 19% to…

The British Academy of Jewellery (BAJ) and the London Contemporary Dance School (LCDS) partnered to host an exhibition on 9 December 2023 that combined jewellery design and contemporary dance. The event, held at BAJ’s higher education campus in Camden, showcased the results of a five-week collaboration between second-year BA (Hons) jewellery students and LCDS dance students. The jewellery students designed movable pieces inspired by the theme of ‘Connection’, which were brought to life through bespoke choreography performed by the dancers. The event, sponsored by Shandy Shack and Modern Love Gin, was attended by over 100 people, who witnessed the collaborative…