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...

Yesterday

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

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Gemfields report: The future is bright for coloured gemstones in China

22 july 2020
Gemfields has launched its first-ever China-centric consumer insight report, which is focused on coloured gemstones in China – a very fast-growing market. The report findings makes it clear that the future is full of exciting opportunities in China, says a report in gemfileds.com.
The report, entitled ‘Sustainability-The Future of Coloured Gemstones in China’, reveals that there is strong demand for both rubies and emeralds amongst Chinese jewellery owners, with 35% planning to purchase the former, and 25% the latter. The company undertook extensive research, delving into the tastes and habits of Chinese consumers across various demographics, regions, cities and wealth levels, to reveal their preferences.
Gemfields also discovered that 97% of jewellery owners surveyed say they are willing to pay a premium for gemstones that have been responsibly mined. All of those surveyed, particularly the younger shoppers said it was important that the brand acts in environmentally and socially responsible ways.
The study also discovered that Chinese jewellery owners rank clarity, carat, colour and cut in this order when it comes to selecting a gemstone, and that Chinese consumers care, overwhelmingly, more about the gemstone itself than they do about its price. 
The company said that a large number of respondents also indicated that they are interested in coloured gemstones set in modern, contemporary jewellery designs. The current vogue for coloured gemstones and rising interest in corporate responsibility make now a perfect time for Gemfields to seize the day in China.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished