Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
MajorsApr 18, 2018
De Beers Will No Longer Sell Diamonds to Gitanjali
The diamond miner and marketer has dropped the company as a sightholder.
London--De Beers will no longer sell diamonds to Gitanjali Gems, the retailer and manufacturer headed by Mehul Choksi, who is implicated alongside his nephew Nirav Modi in defrauding an Indian bank out of billions.
A De Beers spokesperson confirmed to National Jeweler Tuesday that Gitanjali’s sightholder status was dropped in February.
The company declined to say why, stating only: “While we don’t comment on individual businesses, De Beers requires all sightholders to meet rigorous financial and ethical compliance criteria.”
Both Choksi and Modi have denied being involved in obtaining fraudulent loans totaling $1.8 billion from Punjab National Bank and never paying them back. They are currently wanted in India.
Both also have U.S. ties.
Modi, through a complicated web of companies, is the owner of Firestar Diamond/Fantasy Inc. and diamond jewelry brand A. Jaffe, both of which are in Chapter 11 bankruptcy right now.
Choksi’s Gitanjali owns a sizable jewelry store chain in the United States that’s based in Austin, Texas, and operates under the corporate name Samuels Jewelers Inc.
RELATED CONTENT: Nirav Modi Case is ‘Another Nail in the Coffin’Samuels did not respond to calls and emails asking how Gitanjali’s loss of sightholder status will impact its business.
In an interview published in early March, CEO Farhad Wadia told JCKOnline.com that it was “business as usual” and that the company has an “arm’s length” relationship with parent firm Gitanjali.
Wadia’s claim seems to contradict earlier interviews given by both Wadia himself and Gitanjali executives touting the benefits of being a “vertically integrated” company, meaning the retailer has a direct line of supply for diamonds and jewelry manufacturing via their ownership by Gitanjali.
Samuels Jewelers Inc. operates Samuels Jewelers, Samuels Diamonds, Rogers Jewelers, Andrews Jewelers and Schubach Jewelers stores.
In National Jeweler’s latest State of the Majors report, the retailer ranked No. 32 on the list of $100 Million Supersellers, with an estimated $156 million in jewelry and watch sales in 2016.
The retailer tied with Tiffany & Co. at No. 7 on the list of largest specialty jewelers in North America (by store count) with a total of 119 stores as of the end of 2016, though recent reports indicate its store count is now at 108.
Editors' Picks
Sponsored by
More on Majors
The Latest
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
