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.
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.
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.
It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.
Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.
The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.
The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.
While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.
Gemstones Editor Brecken Branstrator dishes on the latest color to trend, the show floor buzz, and more from Denver.
Sponsored by Bloomreach
As the end of 2022 draws near, National Jeweler offers another deep dive into lab-grown diamond market data.
These trending-yet-timeless pieces are no-brainers for customers in search of the perfect gift.
Namdar joins a long line of diamond experts, but his love of the trade was learned rather than inherited.
Growing supply and falling prices likely will make differentiation a necessity and a reality, according to analyst Paul Zimnisky.
The auction house is celebrating 100 years since the discovery of King Tut’s tomb.
Agents in Cincinnati intercepted three shipments of fake brand-name jewels that would be worth more than $10 million if genuine.
From free shipping to early shopping, Emmanuel Raheb outlines a handful of factors expected to shape the holiday season this year.
The sole fine jewelry nominee, the brand is up for an award in the emerging designer category.
Customers earn one “gem” for every dollar spent as part of the “Vault Rewards” program, unlocking discounts and special member-only offers.
See how it looked when our editor tried on virtual jewelry via the DressX app.