Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Global Diamond Jewelry Demand Up in 2017, Led by US
Early indications are that the increase in consumer marketing aided the U.S., China and India.
London--Early indications are that diamond jewelry demand rose globally in 2017, aided by the consumer marketing campaigns put in place for the fourth quarter, De Beers’ parent company Anglo American said Thursday.
In releasing its annual results, Anglo said that the United States was once again the main contributor to the growth in demand for diamond jewelry, while demand in other markets, like India, the Gulf States and Japan, was flat or fell.
De Beers invested more than $140 million in marketing in 2017, a 19 percent increase from 2016. That money went both to promoting the Forevermark Tribute collection and to the “Real Is Rare” campaign from the Diamond Producers Association.
While global demand for diamond jewelry rose, De Beers saw sales slip 4 percent, with the company noting it was up against difficult comps from the first half of 2016.
Total revenue was $5.84 billion, compared with $6.07 billion in 2016, though underlying EBITA (earnings before interest, taxes and amortization) was up slightly. This was due to improved margins; a strong performance in Canada, where Gahcho Kué came online and Snap Lake was shut down; and Element Six, which manufactures diamonds for industrial purposes and benefited from the recovery in oil and gas markets.
EBITA rose 2 percent from $1.41 billion in 2016 to $1.44 billion in 2017.
De Beers’ production was up 22 percent year-over-year, leading all of Anglo American’s divisions, and sales volume rose from 30 million carats to 32.5 million carats.
The company mined 33.5 million carats of rough diamonds in 2017, compared with 27.3 in 2016.
Anglo said the increase in diamond production was the result of stronger trading conditions and the contribution from Gahcho Kué, the mine in Canada that went into commercial production in March 2017.
De Beers’ top-producing mines were those in Botswana (operated in partnership with the government of Botswana as Debswana), followed by South Africa, Canada and Namibia (operated in partnership with the government as Namdeb Holdings).
The average realized price De Beers got for its diamonds dropped 13 percent, from $187 per carat to $162 per carat.
This was due to stronger demand for lower-value goods in the first sight of the year, which came from Indian diamantaires restocking after recovering from the country’s demonetization program, and the ramp-up in production at mines that produce lower-quality diamonds, including Orapa and Gahcho Kué.
In
Diamond production is forecast to increase to 34-36 million carats.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.