Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

De Beers providing its own clarity about natural and laboratory-grown diamonds

21 november 2019

de_beers_logo.pngThe De Beers Group has created a new booklet to clearly differentiate between two "entirely different" products, with two entirely different value propositions, which now form part of its product portfolio: natural and laboratory-grown diamonds. 
According to the Diamond Loupe, the booklet was distributed to 'sightholders' and stakeholders, and addresses the primary differences among the two products, such as; rarity, the types of jewelry for which they are appropriate, the environmental impact of the two products and the question of 'legacy'.
"This booklet equips diamond professionals with the facts to communicate accurately to consumers," De Beers Group says. According to it, natural diamonds are "inherently rare and precious", while laboratory-grown diamonds (LGDs) are "mass-produced in batches [and thus are] neither rare nor unique, so they don't possess the enduring value of natural diamonds." To illustrate, they note that LGD prices have declined by two-thirds inside a year, and will likely continue to fall as the technology improves. 
The difference between their inherent properties also makes them suitable for different types of jewelry, with diamonds appropriate for jewelry marking significant moments in life, enduring in value and serving as family treasures to be handed down to future generations, while LGDs are suitable for the low-price, non-precious jewelry segment. They are conceived for accessible fashion jewelry one wears for fun rather than for emotional significance.
De Beers' booklet also seeks to dispel the myth of the lower environmental impact of LGDs. "More than two-thirds of LGD supply are manufactured in China, Singapore or India and have a significantly larger carbon footprint," booklet says.

Alex Shishlo, Editor of the Rough&Polished European Bureau