Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Asset-backed cryptocurrency gains momentum in China

21 september 2021
Diamonds have not been a favourite with Chinese investors in the past because they tend to lose their resale value. But thanks to the emergence of cryptocurrency, this attitude towards diamonds as an unviable investment vehicle has changed, says a report in Jing Daily.
A study conducted by the research and advisory firm Forrester Consulting indicated that nearly 40 percent of clients who pay with crypto are new customers. Asset-backed cryptocurrencies are gaining momentum, according to analysts.
Additionally, young and socially-conscious consumers have expressed increasing concern over ‘blood diamonds.’ Ethical consumerism has begun trending in China. Therefore, diamond sellers know there is a strong need to build strategies that re-engage customers for better retention.
Not only do cryptocurrencies appeal to younger demographic groups that are more comfortable participating in the digital economy, but they also create a more transparent, secure, and fair diamond market.

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