ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
GradingJun 12, 2014
GIA, Forevermark eye Surat for new labs
De Beers diamond brand Forevermark and the Gemological Institute of America soon might be diamond-grading neighbors in India.
New York--De Beers diamond brand Forevermark and the Gemological Institute of America soon might be diamond-grading neighbors in India.
At a presentation during the recent Las Vegas jewelry shows, London-based Forevermark CEO Stephen Lussier revealed that the brand, which currently grades diamonds at a single facility in Antwerp, was building a second Forevermark grading facility in Surat, a major diamond cutting and polishing center in India.
Also in Las Vegas, the Gemological Institute of America announced that its board of governors directed GIA management to examine opening a grading facility in Surat. This comes in addition to the Carlsbad, Calif.-based lab’s plans to hire more graders and expand facilities in Bangkok, Hong Kong and Mumbai in an attempt to keep up with sharply increasing demand.
The board said there are three reasons for the exceptionally high demand: many banks requesting grading reports to substantiate loans; concerns about undisclosed synthetics making effective screening more important, particularly for smaller goods; and an increase in consumer demand in developing markets for smaller stones with GIA grading reports.
The GIA admittedly has not been able to keep up with the rising demand for its grading services and gets 25 percent more stones than it can process every day. In early May, the lab announced it was replacing “turnaround time” on its reports with “return date.”
Turnaround time did not take holidays or weekends into account and didn’t state the exact date a stone would be ready for pickup or shipped.
Return date does both, and is meant to give clients a clearer picture of when to expect their stones back. The return dates also are classified by weight ranges, which expedites the grading of larger stones by giving them priority.
RELATED CONTENT: GIA now giving ‘return date’ for stones
Lussier’s statement came as part of a speech called “Nurturing the Diamond Dream,” given in a special presentation from De Beers executives at JCK Las Vegas. His speech was preceded by a presentation from De Beers Group CEO Philippe Mellier.
During his talk, Lussier also revealed the results of a recent poll De Beers did of 18,500 U.S. women between the ages of 18 and 75, noting that “America’s going to be the place that makes the world diamond market tick.”
Among the survey’s findings:
--Today’s brides are older and, therefore, more affluent.
--Spending on diamond engagement rings is up 40
percent since 2011 while carat content is up 60 percent, somewhat due to a decrease in quality. Today’s brides are willing to sacrifice color and clarity for a larger stone.
--Online sales accounted for 18 percent of diamond jewelry pieces purchased in 2013, up from 14 percent in 2011. However, a total of 34 percent of women went online to at least do research before purchasing.
--Couples today remain engaged for five times longer than they did in the 1980s.
--Online sales accounted for 18 percent of diamond jewelry pieces purchased in 2013, up from 14 percent in 2011. However, a total of 34 percent of women went online to at least do research before purchasing.
--Couples today remain engaged for five times longer than they did in the 1980s.
More on Grading
The Latest
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
SourcingApr 23, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
