RZM Murowa diamond output dips as high-grade resources deplete

RZM Murowa produced 579 000 carats in 2020 from its operations in Midlands, Zimbabwe compared with 685 000 carats produced, a year earlier. Its parent company RioZim attributed the lower production to the processing of the low-grade K2 resources after...

Today

India’s gem and jewellery exports decline by 28.46% in FY ’20 – ‘21

A decline of 28.46% to $ 25.31 bn is seen in the overall exports of gem and jewellery in FY 2020-21 compared to $ 35.37 bn in the fiscal year 2019-20 as per the data issued by The Gem and Jewellery Export Promotion Council (GJEPC).

Today

GSI opens new laboratory in Jaipur India

Gemological Science International (GSI) has announced the opening of its newest laboratory in Jaipur, India. The Jaipur laboratory will offer all GSI’s core services.

Today

Forevermark brand introduces ‘Forevermark Icon™ Collection’

Forevermark, the diamond brand from De Beers Group, introduces the Forevermark Icon™ collection, a celebration of the brand’s distinctive ‘icon’ motif, which has been intrinsic to its DNA since its inception, says a press release from the company.

Today

Tanzania takes leadership of African Diamonds Producers Association

Tanzania has assumed the leadership of the African Diamonds Producers Association (ADPA) from Namibia. The country’s minerals minister Dotto Biteko will chair the association for a year.

Yesterday

Why No Other Luxury Company Compares To LVMH

06 april 2021

(jingdaily.com) - Most people are astonished by the size and dynamics of the luxury market. Intuitively, they assume luxury is a niche business — even people who work for luxury brands. But what many underestimate is a luxury brand’s enormous value creation potential. This year marks a historic moment for the luxury industry. All brands are hoping for better performances than last year and a speedy recovery for the European and North American luxury markets. Both regions fared poorly during the pandemic, with some categories losing 50 percent or more of their market in these areas that many of the world’s most admired luxury brands call home. With the pandemic still raging across the first quarter of 2021, and most key European markets in strict lockdowns, the news that LVMH just became Europe’s most valuable company might be surprising. According to data analyzed by Finaria, the French luxury house reached a staggering $319.4 billion (264.6 billion euros) as of February 26, 2021, surpassing Nestlé, the Swiss food giant. What’s driving this all-time-high valuation is how the luxury group used 2020 better than other luxury houses and put itself in the pole position for when the markets come back. In short, their strategy execution is a masterpiece of extreme value creation from which other brands can learn.