CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
SourcingDec 13, 2017
2017 Global Diamond Report Key Takeaways
The Antwerp World Diamond Centre and Bain & Company said global diamond sales are expected to grow.
Antwerp--The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their seventh annual global diamond report, covering 2016 and the first half of 2017.
The report examines all parts of the diamond pipeline: rough diamond sales and production; the cutting and polishing midstream sector and polished prices; retail sales; and the overall industry outlook for the next decade-plus, including the challenges it faces.
Here are seven key takeaways from the report.
1. Rough diamond sales were up in 2016.
After a tough 2015 in which rough diamond producers accumulated surplus inventories, they were able to sell off a lot of the excess inventory in 2016 to cutters and polishers, increasing revenues by 20 percent.
Overall, rough diamond prices increased in 2017 after decreasing the previous two years.
2. Rough diamond production was flat.
In 2016, miners produced 127 million carats of rough, a number that is in line with the past eight years of production.
Production increased in Canada, as the Gahcho Kué mine officially opened in September 2016 and the Ekati mine increased production, as well as in South Africa, where the Kimberley mine saw increased underground mining.
Russia saw a decline in production due to the closure of the Udachnaya open-pit mine and Zimbabwe stopped production in seven of its nine deposits as the sector consolidated surplus product.
3. The cutting and polishing sector saw profits slip.
Cutters and polishers experienced a slight decrease in year-over-year profits in 2016.
As mentioned previously, the rough diamond industry benefited from the cutting and polishing sector’s increased purchase of surplus rough in 2016; overall, cutters and polishers bought about 20 percent more diamonds (in value terms) than in 2015.
India now accounts for approximately 90 percent of the polished diamond industry by value.
4. Diamond jewelry retail sales stabilized in 2016 and are headed upward.
Global retail sales figures for diamond jewelry in 2016 were stable after a poor 2015.
Retail sales in the United States increased, though not for several major jewelry retailers, which experienced a sales decrease.
In the first quarter of 2017, many major jewelry retailers experienced a sales decline but saw revenues pick up in the second quarter.
The AWDC and Bain & Co. concluded that some retailers are losing sales to online competition. The global diamond report noted that Signet Jewelers’ purchase of JamesAllen.com and private equity groups’ acquisition of Blue Nile highlight the
importance of an omnichannel approach to diamond retail sales.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
More on Sourcing
The Latest
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Policies & IssuesDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
MajorsDec 02, 2025
Lee Krombholz Takes Over as Chair of MJSA Education FoundationIn addition, a slate of new officers and trustees were appointed to the board.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
