Sourcing

Diamond Jewelry Demand at a ‘Record High,’ Alrosa Says

SourcingOct 21, 2021

Diamond Jewelry Demand at a ‘Record High,’ Alrosa Says

Both Alrosa and De Beers continue to report robust rough diamond sales fueled by strong consumer demand.

In their most recent results, Alrosa and De Beers Group reported strong rough diamond sales once again, fueled by end-consumer demand that Alrosa described as “record high.” (Photo courtesy of De Beers Group)
New York—Consumers’ current, and seemingly insatiable, appetite for diamond jewelry has pushed demand to record levels, Alrosa said, and continues to fuel midstream demand. 

Alrosa reported earlier this month that sales of rough and polished diamonds totaled $298 million in September—$289 million in rough and $9 million in polished. 

That is 11 percent below the $336 million it generated in rough and polished sales in September 2020—which is right around the time diamond demand began to recover—but remains ahead of September 2019 sales of $258.7 million. 

And Alrosa is still posting significant year-over-year gains.  

The mining company’s rough and polished diamonds sales have totaled $3.27 billion through the first nine months of 2021, more than double the $1.58 billion it had generated at the same point last year, and up 35 percent from $2.42 million in 2019. 

“According to our preliminary estimates, end consumer demand for diamond jewelry is record high,” Deputy CEO Evgeny Agureev said, noting both the United States and China are up double-digits compared to 2019 and jewelry sales in Europe are gaining momentum.

This is fueling strong demand in the midstream and pushing up rough prices. Agureev said the rough diamond price index has returned to 2018 levels, and polished diamond prices are surpassing the 2018 average.  

“Our clients are mostly optimistic about the upcoming festive season, and we expect the positive trend to continue into 2022,” he concluded.  

 Related stories will be right here … 

On Wednesday, De Beers Group reported rough diamond sales of $490 million for the period Oct. 4-19, its eighth sales cycle of the year.

That is up 5 percent from $467 million in cycle 8 2020 and well ahead of $297 million in cycle 8 2019. 

Year-to-date, the company’s diamond sales have totaled approximately $4 billion, double the $1.9 billion it had sold at this point last year (though, De Beers noted, it had one less sales cycle in 2020 due to COVID-19) and up from $3.2 billion in 2019.  

De Beers CEO Bruce Cleaver also noted continued strong demand for diamond jewelry in the U.S., and said the company experienced “robust” demand for rough diamonds ahead of Diwali, when many polishing factories in India will close to celebrate the days-long festival.  

The Latest

IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Weekly QuizSep 22, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New Collection

The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad

The Gemological Institute of America also announced plans for events in New York and London in 2023.

CollectionsSep 23, 2022
Piece of the Week: Emily Weld Collins’ Amulet

Inspired by antique coins, it depicts a “hippocamp” from Greek mythology.

EditorsSep 22, 2022
4 Things Seen and Heard at the 2022 HardRock Summit

Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.

TrendsSep 22, 2022
There’s a New Book on Tiffany & Co.

Written by historian Vivienne Becker, it accompanies this summer’s Tiffany jewelry exhibition at London’s Saatchi Gallery.

Supplier BulletinSep 22, 2022
Using Commerce Data to Outshine the Competition in the Jewelry Industry

Sponsored by Bloomreach

Events & AwardsSep 22, 2022
JCK Industry Fund Now Accepting Applications

Organizations with a project or initiative aimed at bettering the jewelry industry are encouraged to apply.

Lab-GrownSep 21, 2022
An Updated Look at the Lab-Grown Diamond Market: Size, Pricing, and More

As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.

TrendsSep 21, 2022
These Are the Diamond Jewels to Stock for the Holidays

These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.

SourcingSep 21, 2022
A Day in the Life: Daniel Namdar, Fancy Color Diamond Specialist

Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.

Lab-GrownSep 21, 2022
Looking Ahead: 4 Factors That Could Shape Lab-Grown Diamonds’ Future

Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.

AuctionsSep 21, 2022
Egyptomania at Sotheby’s: See the Egyptian Revival Jewels Heading to Auction

The auction house is celebrating 100 years since the discovery of King Tut’s tomb.

MajorsSep 21, 2022
Claire’s Expands Walmart Partnership

The chain’s jewelry and accessories are now available in 2,500 Walmart locations.

Events & AwardsSep 21, 2022
Ethical Gem Fair Heads to NYC for the First Time

The event is slated for Oct. 20-22 at Brooklyn Metal Works.

MajorsSep 21, 2022
Hearts On Fire Announces Sales Teams Changes

Jacqueline Raffi has been promoted to vice president, sales, North America.

CrimeSep 20, 2022
Customs Seizes More Than 700 Counterfeit Cartier ‘Love’ Bracelets

Agents in Cincinnati intercepted three shipments of fake brand-name jewels that would be worth more than $10 million if genuine.

ColumnistsSep 20, 2022
The Smart Lab: 5 Holiday Shopping Predictions for 2022

From free shipping to early shopping, Emmanuel Raheb outlines a handful of factors expected to shape the holiday season this year.

Events & AwardsSep 20, 2022
Harwell Godfrey Nabs CFDA Fashion Award Nomination

The sole fine jewelry nominee, the brand is up for an award in the emerging designer category.

MajorsSep 20, 2022
Signet Expands Loyalty Program, Adds Personal Jewelry Insurance

Customers earn one “gem” for every dollar spent as part of the “Vault Rewards” program, unlocking discounts and special member-only offers.

TechnologySep 19, 2022
Signet Enters the Metaverse With Banter, DressX Partnership

See how it looked when our editor tried on virtual jewelry via the DressX app.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy