Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Diamond Sales Down 33% in De Beers’ Latest Cycle
The diamond miner and marketer sold $390 million in rough to sightholders and via auction, compared with $581 million in the same period last year.
Gaborone, Botswana—De Beers sold $390 million in rough diamonds in its latest sales cycle, a 33 percent decline.
In a news release, CEO Bruce Cleaver blamed the double-digit drop on a “more challenging” retail environment in China and oversupply in the midstream while noting that demand in the United States remains “solid.”
But industry analyst Edahn Golan tweeted Tuesday that the decline in demand for diamonds was “global.”
De Beers as a bellwether for diamond jewelry sales: Not only that rough diamond sales by De Beers declined 33% last week, sales since the start of the year have fallen 18% in H1. This highlights a major decline in global diamond jewelry sales. pic.twitter.com/37Sy2kfYKP
— Edahn Golan (@edahn) June 25, 2019
De Beers’ most recent sales cycle was its fifth of the year, marking the halfway point of 2019.
To date, the diamond miner and marketer’s rough diamond sales have totaled $2.38 billion, down 18 percent year-over-year.
Here is a chart outlining De Beers’ sales so far in 2019.
2018 2019 First cycle $672 million $500 million Second $563 million $496 million Third $524 million $581 million Fourth $554 million $416 million Fifth $581 million $390 million (provisional) Sixth $533 million Seventh $503 million Eighth $482 million Ninth $442 million Tenth $544 million
Also this week, De Beers confirmed that it has changed the name of its grading lab from the International Institute of Diamond Grading & Research, or IIDGR, to the simpler De Beers Group Industry Services.
In an email to National Jeweler Wednesday, De Beers’ David Johnson said the renaming makes things “clearer and simpler” for customers and makes it obvious that IIDGR is part of De Beers.
It will provide the following products and services: diamond grading (natural, untreated diamonds only); proprietary lab-grown diamond detection equipment under De Beers Group Technology; melee, parcel and set diamond verification services; and a range of diamond education courses under De Beers Group Institute of Diamonds.
De Beers Group Institute of Diamonds has three campuses, in Maidenhead in the United Kingdom; in Antwerp, Belgium; and Surat, India.
De Beers Group Industry Services has offices at each campus, while De Beers Group Technology develops its detection equipment at the Maidenhead campus only.
The renaming of IIDGR is part of a broader rebranding the company mentioned when discussing “DTC diamonds” earlier this year.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.