The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.
De Beers’ Diamond Sales Drop 53% as Customers Defer
The company sold $250 million in rough in its latest sales cycle, versus $533 million in the same period last year.
Gaborone, Botswana—De Beers Group recorded another precipitous drop in rough diamond sales as suppliers and manufacturers put off rough purchases.
The diamond miner and marketer said Tuesday that sales to sightholders and auction customers totaled $250 million in its most recent sales cycle, its sixth of the year. That’s less than half what it sold in the same period last year, $533 million.
De Beers CEO Bruce Cleaver said it allowed customers to defer some of their rough diamond allocations until later in the year due to the glut of supply in the midstream, the fact that retailers are keeping inventory levels low and the general “macroeconomic uncertainty.” And they clearly took advantage.
The 53 percent drop follows the 33 percent decline recorded in the last sales cycle.
De Beers’ rough diamond sales are down 23 percent in the year-to-date, from $3.43 billion to $2.63 billion.
Here is a chart outlining the company’s sales so far in 2019.
The Latest
He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.
The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Ho Brothers offers scalable solutions for the future of custom jewelry.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."