The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
What’ll make millennials ‘walk away’ from jewelry
At a session held Sunday at JA New York Summer, the DCA’s Terry Chandler discussed how selling over-graded diamonds could turn off an entire generation.
New York--Diamond grading reports and millennials are among the two most-talked-about topics among jewelers today.
On Sunday at JA New York Summer, the Diamond Council of America’s Terry Chandler told attendees how the two were related in a talk titled “Diamond Grading Reports: The Jeweler’s Ticking Time Bomb.”
Chandler started his afternoon session by recapping the events that unfolded in Nashville, Tenn. last year.
In May a local NBC affiliate, WSMV, began airing a series of reports about local retailer Genesis Diamonds selling EGL International-graded diamonds that were found to be over-graded for both color and clarity.
The reports, which eventually were picked up by media outlets across the country, were the impetus for a number of changes in the jewelry industry around an issue that has been simmering for years: over-graded diamonds.
Martin Rapaport removed diamonds graded by any EGL laboratory from RapNet, grading reports are no longer being issued under the EGL International brand, and a group of key industry organizations drafted a new policy specifically to address color over-grading.
While helpful, these actions certainly don’t mean that every over-graded diamond suddenly has disappeared from the market and, Chandler pointed out, it doesn’t mean there aren’t people still trying to commit fraud.
He said jewelers need to “go back to being professionals”--they need to have the ability to look at a diamond and determine if indeed the color grade listed on the diamond’s grading report does not match the stone, and then relay that to their customers.
Otherwise they are going to lose customers, particularly millennial customers who come into the store armed with a wealth of knowledge. They expect the retailers from whom they are buying to be able to answer all their questions, and they expect all that information to be accurate.
“You will not pass their test if they find out you’re lying to them,” Chandler said. They will leave the store without making a purchase and, what’s worse, tell all their friends and social media followers about their experience.
And, he adds, it won’t just be diamonds they abandon but jewelry as a whole.
“If we continue to allow this to go on … the millennials will walk away,” he said.
The Latest
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.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.