Author: Ruchi Singla

Wealthy Russian investors are increasingly purchasing investment-grade diamonds, with demand for polished stones rising by 60% in 2023, according to VTB, Russia’s second-largest bank. This follows the Russian government’s decision to abolish VAT on diamond purchases, making gemstones a more accessible investment option for high-net-worth individuals. Rising Demand for Diamonds as Alternative Investments Oksana Semenenko, vice president at VTB and head of its private banking division, stated that diamonds are attracting investors due to their rarity and ability to hold value. “The uniqueness and rarity of diamonds make them particularly appealing amid rising financial market volatility and restrictions on traditional…

Céline Assimon will leave her role as CEO of De Beers Jewellers at the end of the month, the company has confirmed. Assimon joined De Beers Jewellers in 2020 after leaving Swiss luxury jeweller De Grisogono. In 2021, she took on the additional role of CEO of Forevermark, a position she held until March 2024, when De Beers restructured the brand to focus on the Indian market. During her time with De Beers, the company focused on expanding its core collections and high jewellery range while increasing its presence in key markets. Future Direction for De Beers Jewellers A De…

Members association The Jewellery Collective has announced Shine Online, a free event taking place on 3 April in London’s Hatton Garden. The event will focus on practical strategies for jewellers to improve their digital marketing, covering topics such as social media engagement, online visibility, and sales growth. Kassandra Lauren Gordon, founder of The Jewellery Collective, highlighted the importance of digital marketing for jewellers, stating: “In today’s competitive landscape, taking the time to reflect and grow our social media presence is crucial. This event provides a space to do just that – to develop strategies and expand your brand.” Session highlights…

Pomellato has announced French-Italian actress Philippine Leroy-Beaulieu as its new global ambassador. Best known for her role as Sylvie Grateau in Emily in Paris, Leroy-Beaulieu has portrayed independent and complex female characters throughout her four-decade career. Pomellato stated that her appointment reflects the brand’s emphasis on authenticity, independence, and creativity. Pomellato and Leroy-Beaulieu Collaboration Leroy-Beaulieu’s French-Italian background aligns with Pomellato’s Milanese roots. In a statement, she said, “Joining the Pomellato family feels like a natural extension of my own story. As a French-Italian actress, I’ve always admired how Pomellato combines Italian craftsmanship with contemporary design. Their jewellery speaks to women…

A recent study has revealed that Early Iron Age jewellery discovered in southern Poland contains iron sourced from a meteorite. The artefacts, uncovered at the Częstochowa-Raków and Częstochowa-Mirów cemeteries, date back to approximately 750–600 BCE and belong to the Lusatian Culture. The research, published in the Journal of Archaeological Science: Reports, found that four of the 26 examined artefacts—three bracelets and a pin—were made of meteoric iron. This discovery makes southern Poland one of the most concentrated sites for meteoric iron artefacts, comparable to some sites in Egypt. Meteoric Iron and Its Cultural Use The analysis, conducted using portable X-ray…

A London High Court ruling has dismissed a legal claim by Sheikh Hamad bin Abdullah Al Thani, the chief executive of Qatar Investment & Projects Development Holding (QIPCO), to enforce the purchase of the 70.21-carat Idol’s Eye diamond. The case was brought against Elanus Holdings, a company representing the heirs of the late Sheikh Saud bin Mohammed Al Thani, a former Qatari culture minister and art collector. Legal Dispute Over Ownership The Idol’s Eye diamond, thought to have come from the Golconda mines in India, was purchased by Sheikh Saud in the early 2000s. Before his death in 2014, he…

Lucara Diamond Corp has sold two diamonds recovered from its Karowe mine in Botswana for a total of $54 million. The 549-carat Sethunya and the 1,080-carat Eva Star were extracted from the South Lobe of the Karowe kimberlite, an area known for producing large, high-value diamonds. Karowe’s Ongoing Production of Large Diamonds The sale highlights Karowe’s history of recovering sizeable stones. Lucara’s president and CEO, William Lamb, commented on the mine’s continued production of high-quality diamonds. “The sale of these two extraordinary diamonds further validates our investment in the Karowe underground project. The unique characteristics of Karowe’s kimberlite, particularly in…

A collection of jewellery from Nagaland, a region in Northeast India, will be auctioned by Woolley & Wallis on 19 February 2025. The sale is part of the Arts of Africa, Oceania and the Americas auction and includes handcrafted pieces reflecting the cultural traditions of the Naga people. A Collector’s Lifelong Interest The collection belongs to art publisher and artist Hansjörg Mayer, who has spent 50 years acquiring jewellery and artefacts from the region. His interest began when friends purchased a Naga artefact at auction, which he later acquired from them. This led to a long-term focus on Naga craftsmanship.…

The Royal Mint has submitted 6,432 coins for assessment at the Trial of the Pyx, the UK’s oldest judicial ceremony overseeing the quality and fineness of the nation’s coinage. The event, held annually at Goldsmiths’ Hall in London, dates back to 1248 and plays a critical role in ensuring the integrity of British coin production. A key feature of this year’s submission is a silver sixpence crafted from recycled silver recovered from expired medical and industrial X-ray films. This is the first official UK coin produced using silver recovered from X-ray films to be submitted to the Trial of the…

Community interest company PeaceGold has introduced a series of jewellery-making courses at its newly opened PeaceGold Ethical Jewellery House in Bishop Auckland’s historic Fore Bondgate. The workshops, led by resident goldsmith Kate Seow, cover key techniques for beginners and improvers. Course Details Two structured workshops are being offered: Each course is priced at £75 per person, covering tools, materials, and refreshments. Sessions will take place on Sundays (9th February and March) and Tuesdays (18th February and March), with additional dates to be announced. Class sizes are limited to six participants per session. Instructor and PeaceGold’s Work in Ethical Jewellery The…

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…