Vladimir Zboykov: New times have come for jewelers

How a personal collection of minerals was thrown on the scrap-heap, who is behind the destruction of gemstone consumption culture in Russia and why jewelers will soon have to choose between business and prison – all this was told to Rough & Polished...

Yesterday

Changing preconceptions in the diamond and financial markets

Eli Avidar is a man on the move…literally. In April, the former Israeli diplomat stepped away from the CEO’s office at the Israel Diamond Exchange, a position he had held for more than two years, and from the Israel Diamond Institute, where he had been...

13 august 2018

Chasing a dream…

Elina Chan, MD of Shenzhen Shi Qing Yu Zhubao Ltd completed her higher education from Xiamen University and Master’s degree from Hong Kong University. To achieve her dream to start a business, Elina gave up numerous job opportunities in Hong Kong and...

06 august 2018

Pangolin Diamonds using termites to find kimberlite indicators in Botswana

It is not a secret that the rate of kimberlite discovery in Botswana has dropped considerably and research has shown that termites can help diamond explorers have an understanding of the transport mechanism of kimberlite indicator minerals from the kimberlite...

30 july 2018

In another fifty years, we’ll have a different scale of valuation, and all those items of natural origin – including diamonds – will sharply increase in price

Within the framework of the Qatar-Russia 2018 Year of Culture, the World Diamond Museum hosts an exhibition of the Qatar Museums at the State Historical Museum in Moscow – "Pearls: Treasures of the Seas and the Rivers," that opened on 11 July...

24 july 2018

Global consumer demand for diamond jewellery jumps 2% to $82 bln – De Beers

18 may 2018
De Beers said global consumer demand for diamond jewellery reached a new all-time high in 2017, rising two percent to $82 billion from the previous year’s $80 billion.

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Image credit: De Beers


The group said in its latest diamond insight report that the US was the main driver of growth for the fourth consecutive year demand for diamond jewellery increased four percent to $43 billion due to positive macroeconomics and strong consumer confidence.
It said a rise in self-purchase of diamond jewellery also lifted demand, representing 33 per cent of total US diamond jewellery pieces acquired in 2017.
Consumer demand in Mainland China, the world’s second largest consumer market for diamond jewellery, rose one percent in US dollars to $10 billion.
“People around the world are spending more on diamond jewellery than ever before and it’s encouraging to see consumers in the US, the world’s largest and most mature market, leading the way,” said De Beers chief executive Bruce Cleaver.
“While new designs and brand concepts played a key role in catching the consumer’s eye, it’s the timeless natural beauty, uniqueness and enduring value of diamonds that continues to resonate with people when looking to celebrate life’s special moments.”
However, demand for diamond jewellery in India, Japan and the Gulf registered single digit declines due to macro-economic factors, regulatory and exchange rate impacts.
De Beers said the outlook for 2018 demand growth remained positive in most of the main diamond consuming countries as a result of firm world economic prospects, positive consumer sentiment and continued investment from the diamond industry in category marketing.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished