If You’ve Got it, Flaunt it… or Not?

“People have long bought flashy items because they made them feel good. Now some say those same items make them feel icky,” wrote JCK’s Rob Bates. According to a recent New York Times article a percentage of affluent consumers are moving away from the ‘If you’ve got it, flaunt it’ stereotype. Some even consider their wealth a burden, going as far as hiding the price tag of their recent purchases.

Retail and Consumer Confidence

De Beers Insight Report 2017: Changing Role of Women Creating New Diamond Jewelry Demand

According to industry insight data published today by De Beers Group, the shifting dynamic of women’s expanding roles in society and changing perceptions of femininity are creating new motivations of diamond jewelry acquisition. Social and economic changes have expanded the symbolism of diamond jewelry, women are now more empowered which has led to record levels of self-purchase, as well as the establishment of a new consumer type.

Retail and Consumer Confidence

Alrosa’s President Joins Diamond Producers Association Board

Alrosa’s President, Sergey Ivanov, has joined the board of the Diamond Producers Association (DPA), the Russian miner announced on Monday. Ivanov will replace the position vacated by the former Alrosa VP, Andrey Polyakov, before he left the company.

Retail and Consumer Confidence

Lab-created Diamonds: Where to Go from Here

Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article on the current state of lab-created diamonds and where the industry goes from here. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

Retail and Consumer Confidence

Tiffany & Co. Beats Q2 Expectations Despite Same Store Slump

An increase in wholesale sales of diamonds, strong growth in e-commerce sales and new store openings help Tiffany & Co. beat earnings estimates despite the fact that same-store sales declined for the seventh straight quarter. For the second quarter (ended July 31, 2017), the renowned luxury retailer reported a 9% rise in net income to $115 million, up from $105.7 million during the same period a year earlier, on net sales of $960 million. Analysts had expected the company to earn revenue of $930.3 million.

Retail and Consumer ConfidenceJewelry

Signet's Sales Up 2% in Q2 2018, To Acquire Online Retailer James Allen

Signet's total sales for the Second Quarter of fiscal 2018 were $1.4 billion, up $26.2 million or 1.9%, compared to a decrease of 2.6% in the 13 weeks ended July 30, 2016 (Q2 2017). However, the jeweler’s first-half sales fell 5% to $2.8 billion, with profit sliding 25% to $171.9 million. The company also announced that it has agreed to acquire R2Net for $328 million in an all cash transaction.

JewelryRetail and Consumer Confidence

Swiss Watch Exports Continue Fragile Recovery in July

Driven by strong increases in exports to Hong Kong and China, and even modest 1.4% growth for the U.S., July marked the third straight month of growth for Swiss watch industry exports, according to the Federation of the Swiss Watch Industry FH.

Retail and Consumer Confidence

Signet Jewelers Recognized for Corporate Social Responsibility Efforts

Signet Jewelers Limited has been recognized for its corporate social responsibility and sustainability efforts by being named as a component of the FTSE4Good US and Global Indices in 2017. Signet joins this group of other publicly traded companies with strong environmental, social and governance (ESG) practices. “Signet is proud of our commitment to reducing our energy consumption and raising our efficiency levels across our business.

JewelryRetail and Consumer ConfidenceSustainability

Industry Sets Up Internat'l Diamond Monitoring Committee to Keep Natural, Synthetic Apart

From the India International Jewellery Show (IIJS) in Mumbai, GemKonnect reports on the formation of the International Diamond Monitoring Committee (IDMC), an initiative intended to ensure the separation of natural diamonds from synthetics as they pass through the diamond pipeline to the retail counter.

Origin TrackingRetail and Consumer Confidence

The State of the Diamond Industry in the Second Half of 2017

Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article on the current state of the diamond industry as it heads into the second half of 2017. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

PolishedMining and ExplorationMarket AnalysisRough MarketRetail and Consumer Confidence

Closures of North American Jewelry Companies Slow in Q2

Statistics from the jewelers Board of Trade (JBT) show that the trend of increasing of business closures in the North American jewelry industry continued in the second quarter of 2017, but at a slower pace than previously, reports JCK's Rob Bates. In fact, there were 48% fewer closures in Q2 2017 than Q2 2016, from 475 to to 245 closures in the period. As Bates clarifes though, "the consolidation trend hasn’t totally reversed itself: The number of jewelry companies is still shrinking. In June, the JBT recorded 27,706 businesses.

JewelryRetail and Consumer Confidence

Polished Diamond Prices Continue Steady Decline (Reflecting Demand?)

While their methodologies and results vary to some extent, even a cursory glance at the major diamond price indexes (RapNet, IDEX, Mercury, PolishedPrices) reveal an undeniable trend of continuing and sustained polished price declines.

PolishedRetail and Consumer Confidence

Are Miners Undermining the Diamond Pipeline? Melvin Moss Weighs In

Diamond trader and brick & mortar crusader Melvin Moss is back at his provocative best in his most recent diatribe, "The #Diamond Family is Dysfunctional". He argues that major diamond miners producing too much rough at prices unsustainable for the rest of the industry (which deals with underpriced polished) and are extending their reach across the pipeline at the expense of everyone else - particularly retailers. "The diamond pipeline is dysfunctional", he writes. "Miners have a primary obligation to their shareholders.

Opinion pieceRetail and Consumer ConfidenceManufacturing

Chow Tai Fook Solidifies Q4 Gains, Sales Up in Q1 2017

Chow Tai Fook continued its upward sales trend during Q1 2017 (three months ended June 30), as retail sales increased 17% in value in Mainland China and 7% in Hong Kong and Macau. After 12 consecutive quarters (3 years) of same store sales decline in Hong Kong and Macau, dating back to Q4 2014, the Hong Kong-based jeweler has now experienced growth for the second quarter in a row. Same-store sales growth in the two regions amounted to 11% and 5%, respectively.

JewelryRetail and Consumer Confidence

Tiffany & Co Taps Luxury Vet Bogliolo as New CEO

Tiffany & Co. announcd Thursday that it has named veteran luxury industry executive Alessandro Bogliolo as its next chief executive officer. Bogliolo most recently served four years as the chief executive of apparel and accessories company Diesel, and his resume includes 16 years at luxury jeweler, Bulgari, including in the roles of chief operating officer and executive VP of Jewelry, Watches & Accessories.

JewelryRetail and Consumer Confidence

Swiss Watch Exports See Strong Rise in May

Swiss watch industry exports rose strongly in May, according to figures from the Federation of the Swiss Watch Industry. They were worth $1.77 (1.7 billion francs), 9.0% more than in May 2016. This was the second positive month after March, confirming the recovery which has been under way since the start of the year. Several important markets posted very strong growth. Hong Kong (+18.1%) and China (+34.4%) led the Asian continent while the situation in Japan (-3.2%) continued to deteriorate.

Retail and Consumer Confidence

ABN AMRO Analyst: Diamond Market Recovery "Grinds to a halt"

In ABN AMRO's lastest iteration of the biannual Diamond Market Outlook, Coordinator FX & Precious Metals Strategy Georgette Boele writes, "The recovery in the diamond trade has grinded to a halt at the start of 2017", as US consumer spending has been disappointing in Q1, lower consumption in Hong Kong and Macau has negatively affected demand (according to company reports from main jewelers in the region) and Chinese retail sales were weaker in January and February.

Rough MarketPolishedRetail and Consumer Confidence

Rob Bates on What Jewelers Can Learn from Independent Bookstores

JCK news director Rob Bates takes a look at the resurgence of independent bookstores in the U.S. and sees parallels with independent jewelry retailers: "It’s clear the jewelry industry - and in particular the number of independent jewelers - is shrinking. But that’s true of retail overall. And, until recently, it was true of independent bookstores. If you compare today versus decades ago, the number of brick-and-mortar booksellers has fallen. But the independent segment has reversed that trajectory. The number has risen for the last eight years.

Retail and Consumer ConfidenceOpinion piece

Bricks & Mortar Still Rules Among Millennial Shoppers (after Internet search)

Online coupon search site and retail trend analyst CouponFollow recently released The Millennial Shopping Report, tracking the behavior of those born between 1982 and 1996, who now constitute "the largest generation in human history", with over 80 million members in the U.S. alone. CouponFollow claims that Millennials spend $600 billion annually and are, "poised to inherit $30 trillion from their Baby Boomer parents"; they already account for 28% of all daily per-person consumer spending, and it is suggested that could rise to 35% by 2030.

Retail and Consumer Confidence

Antwerp’s Most Brilliant: Transforming Antwerp’s Diamond Jewelry Experience

Arriving at Antwerp’s splendid 19th century Central Station, with its marble staircases, iron and glass vaulted ceiling and gilded details, shoppers visiting Antwerp are filled with high expectations about the jewelry boutiques awaiting them in the world’s diamond capital. For years these expectations were quickly dashed, as consumers were confronted with myriad uninviting and less-than-reputable jewelry shops once they left the station. Where to turn?

JewelryIn-depthCompliancePolishedRetail and Consumer Confidence

Forevermark's Q4 Campaign to Focus on (Self-Purchasing) Women

In their recent addition to the Diamond Insight reports focusing on diamond jewelry demand and emerging trends, De Beers said it expected single women's acquisitions and spend to increase in 2017, leading to an increase in self-purchasing in non-bridal, discretionary jewelry categories, driving incremental demand above and beyond the fundamental driver of demand, namely, bridal diamond jewelry.

Retail and Consumer ConfidenceJewelry

Luxury Jewelers and Watchmakers E-commerce Evolution

Luxury houses such as Cartier, Piaget and Chanel have launched collections on Net-a-Porter and are doing well, despite critics of the format. Cartier made a relatively risky move by placing Panthère de Cartier, a white gold diamond watch retailing for US$77,000 (HK$600,000) on the online platform Net-a-Porter. Within two weeks of the collection’s launch, the watch was sold. Of course some ‘purists’ believe that luxury products must be felt to create an emotional engagement, which is hard to replicate online.

Retail and Consumer Confidence

Diamond Producers Association To Increase Budget to $57 Million

The Diamond Producers Association (DPA) announced on Sunday at the JCK Las Vegas show that their 2017 full-year marketing investment will increase to $57 million from approximately $12 million following the success of the 2016 campaign. This will enable the diamond marketing body to expand its multichannel advertising, PR and digital campaigns as well as continue rolling out the campaign to India.

Retail and Consumer Confidence

Latest Online Diamond Platform Cuts Out Retailers Entirely

The lastest disruptive online diamond sales platform, a "reverse auction site" startup called Legemdary, purports to serve the interests of diamond buyers and wholesalers by cutting out retailers altogether, writes Rachelle Bergstein for Forbes, introducing the company to a global audience. Legemdary calls itself the only straight to wholesale online diamond marketplace, connecting prospective engagement ring buyers directly with wholesalers who bid to supply the consumers' needs.

PolishedJewelryRetail and Consumer Confidence

New Business Models for Luxury Brands

Everlane’s founder, Michael Preysman, who sells classic designs over the internet by promising “radical transparency”, believes he has identified the issues Millennials have regarding provenance and price. He pledges low-cost, high-quality goods made in factories used by designer brands, thus making them more appealing to their consumers. Everlane has a studio in Soho, New York, where shoppers are encouraged to try on the products and then return home and purchase their goods online, an inventive way of combining retail and ecommerce.

Retail and Consumer Confidence

Diamond Industry's 'Holy Grail' Within Reach: A Tracking 'Fingerprint'

The diamond industry has a sort of 'Holy Grail' when it comes to consumer confidence and putting to rest an issue that critics rely on to deride the trade as unethical and still awash with 'conflict diamonds': guaranteed provenance. Acoording to an interview last week, Andrey Polyakov, president of the World Diamond Council (WDC) and a vice-president of Russian diamond giant ALROSA, believes one key to obtaining that grail is close at hand in the form of a physical 'fingerprint' that would enable diamonds to be tracked to their origin.

Retail and Consumer ConfidenceRough Market

Signet Resolves Equal Opportunity Case Without Liability

Signet Jewelers Limited has announced that it had reached an agreement with the Equal Employment Opportunity Commission (EEOC) to resolve all claims related to the pay and promotion of female retail sales employees at the company in EEOC v. Sterling Jewelers Inc. The Consent Decree states there were “no findings of liability or

Retail and Consumer ConfidenceJewelryLegal

Luxury Group Kering Reports Excellent Performance in Q1

The French luxury group Kering reported a strong first quarter, with group revenue rising by 31% y-o-y basis to $3.89 billion. Sales from its luxury activities for the same period totaled $2.63 billion, up by a steep 34%. The sales growth in the group’s directly operated store network increased significantly to 36.6%, as a direct result of the remarkable performance in Western Europe and the Asia Pacific area, which reported sales increases of 49.9% and 46.7% respectively.

JewelryRetail and Consumer Confidence

De Beers To Offer Synthetic Diamond Detection Training through IIDGR

The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, today announced the launch of a world-first Synthetic Diamond Detection training course. It is the first in a series of education services to be rolled out during 2017, according to a press release. The two-day lab-based course will be unveiled in the U.S. towards the end of the JCK Jewelry show in Las Vegas on 8 and 9 June, and in India at the IIDGR Facility in Surat on 15 and 16 May.

TechnologyLaboratoriesRetail and Consumer Confidence

Chow Tai Fook Goes Surfing in U.S. with DFS Group

Chow Tai Fook has partnered with luxury travel retailer DFS Group, a subsidiary of LVMH, to open its second boutique in the United States on the Hawaiian island of Oahu. The Hong Kong-based jeweler’s branded store will launch in T Galleria by DFS in the heart of Honolulu and close to the iconic Waikiki Beach. T Galleria by DFS is a prime shopping destination for travellers seeking leading international luxury brands; Hawaii is a popular wedding and honeymoon destination, with jewelry fast becoming a key retail category for travellers to the islands.

JewelryRetail and Consumer Confidence

Diamond Producers Association’s Real is Rare to be Launched in India

The Diamond Producers Association (DPA) announced their intention to spur demand in the third largest diamond market, India, by launching their “Real is Rare” slogan in September. The DPA - an international alliance of the world’s leading diamond mining companies whose mission is to protect and promote the integrity and reputation of diamonds, and the diamond industry - initially launched its “Real is Rare” campaign in the U.S. in 2016.

Retail and Consumer Confidence

GIA Unveils Diamond Tester Prototype, Bonas Says Synthetic Production on Rise

Some interesting industry developments took shape at last week's Diamond Detection Expo and Symposium sponsored by India's Gem and Jewellery Export Promotion Council (GJEPC).

LaboratoriesRetail and Consumer ConfidenceTechnology

Chow Tai Fook Posts Solid Retail Sales Growth in Q4

The world’s largest jeweler, Hong-Kong based Chow Tai Fook, reports strong retail sales growth in the fiscal fourth quarter, reversing 12 consecutive quarters (3 years) of same store sales decline in Hong Kong and Macau, dating back to Q4 2014. The uptick was strongest in Mainland China, where overall retail sales value increased 16% while same store sales rose 12%. Overall and same store sales in Hong Kong and Macau rose by 1% and 4% respectively.

JewelryRetail and Consumer Confidence

De Beers Reclaims Its Name; Can It Revive Its Brand?

The De Beers Group made headlines last month when it announced the end of its joint venture with LVMH with the aquisition of their 50% share in De Beers Diamond Jewellers (DBDJ), a move that Chaim Even-Zohar characterizes as, "brilliant and long overdue." He writes, "With De Beers at the helm, the venture will get a realistic chance to succeed.

JewelryIn-depthRetail and Consumer Confidence

Luxury Group LVMH's Q1 Sales Up 13% Vs. Weak Comps

LVMH Moët Hennessy Louis Vuitton, the world's largest luxury producs group, recorded revenue of 9.9 billion Euros ($10.51 billion) for the first quarter 2017, an increase of 15%. Organic revenue (with comparable structure and constant exchange rates) growth was 13% compared to the same period of 2016, an increase attributable to all business groups.

JewelryRetail and Consumer Confidence

Cartier to Embrace WeChat for Chinese Ecommerce

With 850 million active users monthly, western luxury brands have been quick to embrace China’s “most important platform for luxury brands”, WeChat. Local and international brands have realised the potential of the platform to make them key players in China’s $103 billion jewelry market. Western companies have used it for flash sales as well as marketing and customer interaction. While these flash events have spurred sales, China’s online sales remain limited, says Antoine Pin, managing director of Bulgari in greater China.

Retail and Consumer ConfidenceJewelryTechnology
Twitter

Consumer Confidence in US Highest since 2000

American’s have a positive view of the current economic condition leading consumer confidence to reportedly reach the highest level in over 16 years. The Conference Board’s consumer confidence index jumped by more than 100 since February, indicating an improvement for the second consecutive month. It also eclipsed economists’ estimates of 114.

Retail and Consumer Confidence

Brad Brooks-Rubin, the "Enough Project" on a New KP

“It is time for the international community and the diamond industry to put the process into the Kimberley Process and enable the initiative to move into a new chapter. Or it will really become ‘bull—,’” said Brad Brooks-Rubin of the Enough Project.

Retail and Consumer Confidence

In Defence of Kimberley Process, An Open Challenge To Detractors

"The Kimberley Process (KP) is one of the key institutions that the diamond industry depends on to deliver the assurance that not only are rough diamonds responsibly sourced," writes Vinod Kuriyan, chief editor of GEMKonnect and a veteran analyst of the diamond industry, "but that they deliver fair value to artisanal miners and the local communities in the sourcing area." His defence of the KP was prompted by Martin Rapaport's statement on stage last week at the

Retail and Consumer ConfidenceSustainabilityOpinion piece

Edahn Golan Delivers US Retail Market Insights at AWDC Café

Speaking at the Antwerp World Diamond Centre (AWDC) Café - a monthly guest lecture series at AWDC - diamond industry analyst Edahn Golan addressed the latest trends in the U.S. retail jewelry market. Drawing on actual point-of-sale data gathered by NPD Group from thousands of retail doors in the U.S., including major jewelry chains and hundreds of independent jewelers, Golan notes that the industries tracked by NPD in the U.S.

JewelryRetail and Consumer Confidence

See-Now, Buy-Now Shopping Trend

Fashion and jewelry houses are stunned by the latest shopping trend: See-now, Buy-Now. Consumers nowadays desire instant gratification and no longer wish to wait between seeing an outfit on the runway and being able to purchase the look. This trend is likely due to the increase in women who are buying jewelry and designer clothes for themselves. “They buy jewelry like they buy fashion, so are more spontaneous now,” said Nicolas Bos, chief executive of Van Cleef & Arpels.

JewelryRetail and Consumer Confidence

Signet Jewelers Seeks to Standardize Diamond Screening Machines

Signet Jewelers, as part of its effort to support and reinforce its Responsible Sourcing Protocol for Diamonds (D-SRSP), has been working on a project with product-testing firm United Laboratories and the Diamond Producers Association to create a facility for testing synthetic diamond screening equipment, writes Rapaport News.** The intention is to create an industry standard for such equipment so that, "su

PolishedTechnologyRetail and Consumer Confidence

The Neglected Demographic: the Midult

Every marketeer has spent countless hours strategizing on how to target millennials, which has led them to neglect an important audience: introducing the Midult. Paula De Luca, creative director of trend forecasting company Trendvision, defines the midult as a women between the ages of 35 and 55 who has spending power – in other words, a Generation X female, born between 1960 and 1980. Following millennials and baby boomers, Gen X is the third largest generation in America, making up 25% of the 60 million adults in the U.S. 

Retail and Consumer Confidence

Stéphane Fischler on Road Ahead for India’s Diamond Industry

Stéphane Fischler, President of the International Diamond Council, founding member of the European Council of Diamond Manufacturers, Vice President of the World Diamond Council and President of the Antwerp World Diamond Centre talks to Manisha Gupta on India's CNBC-TV18. He shared his view of the Indian diamond industry and the road ahead for its diamond market. An abbreviated version:

CNBC: How do you see diamond consumption growth in India?

Finance and TradeMarket AnalysisManufacturingRetail and Consumer Confidence

European Parliament Approves 'Conflict Minerals' Law for Importers

The European Parliament last week approved a draft regulation intended to prevent the minerals trade from funding conflict and human rights violations in Africa. If adopted, this “conflict minerals” law will oblige all but the smallest EU importers of tin, tungsten, tantalum, gold and their ores from conflict and high-risk areas to do "due diligence" checks on their suppliers, and big manufacturers will also have to disclose how they plan to monitor their sources to comply with the rules. Authorities in EU member states will be responsible for ensuring compliance by companies.

Retail and Consumer ConfidenceSustainabilityComplianceLegal

City of Antwerp, AWDC Introduce “Diamond Year” To Celebrate 570th Anniversary

The Antwerp diamond industry this year is celebrating its 570th anniversary. A document recently discovered in the City Archive identifies the first signs of a diamond trade in the city dating back to 1447.

EconomySustainabilityRetail and Consumer Confidence

Tiffany's Sees Global Net Sales Decline 3% in 2016, Rise 1% in Q4

Tiffany & Co. today (March 17) reported its financial results for the full year and the three months (fourth quarter) ended January 31, 2017, which were consistent with its previously issued guidance for the 2016 fiscal year. Worldwide net sales declined 3% in the year and rose 1% in the fourth quarter, while in both periods higher gross margins countered growth in operating expenses. Net earnings per diluted share declined 1% in the full year and 2% in the fourth quarter. The company generated more than $700 million of cash flow from operating activities in the full year. 

JewelryRetail and Consumer Confidence

CARAT+ Diamond Trade Show Antwerp Teams with Bond Girl & Rapaport

Organizers of the CARAT+ "Diamond Event" trade show to be held in Antwerp from May 7 - 9 have announced an agreement with "Bond Girl" Caterina Murino (Casino Royale, 2006) to be a guest of honor, and has announced an exclusive media partnership with The Rapaport Group. Murino, playing the sultry Solange Dimitrios, became the 71st member of one of the most celebrated and exclusive clubs in movie history, known as "the Bond Girls".

JewelryRetail and Consumer Confidence

GJEPC Hosting International Diamond Conference 2017

The Gem and Jewelry Export Promotion Council (GJEPC) will host the International Diamond Conference, "Mines to Market 2017", to be held on March 19 and 20, 2017 in Mumbai. It will gather leading miners, diamantaires, retailers, bankers and analysts from across the globe on a single platform to discuss issues faced by the global diamond industry, such as supply and demand, marketing and financing, and will cover all aspects of the diamond pipeline including mining, midstream, marketing & retail, international finance, valuation with KP and diamond certification.
 

Mining and ExplorationRetail and Consumer Confidence

Paul Zimnisky's Overview of Diamond Industry, 2016 Through Early 2017

Diamond industry analyst and author of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky, takes us on, "A Trip Through the Diamond Industry in March 2017." If there is one trip you make this weekend, we recommend this one.

Mining and ExplorationRough MarketManufacturingRetail and Consumer ConfidencePolished

U.S. Jewelry Store Sales Increase by 3.8% in 2016

Sales at specialty jewelry stores in the U.S. grew 3.8 percent to $31.43 billion in 2016 following a sharp rise in December, according to data from the the U.S. Census Bureau. December sales jumped 7 percent to $6.21 billion from $5.81 billion in December 2015, the provisional figures showed. To give an indication of the impact of December sales on overall jewelry sales, the monthly sales average for the 11 months before December was $2.29 billion, meaning that December sales represented a 170% rise over the 11 months prior.

Retail and Consumer ConfidenceJewelry

Signet Jewelers Sales Fall 4.5% in "Challenging" Q4

Signet Jewelers, recently making unfortunate headlines with the reemergence of allegations for sexual harassment, has reported falling sales nearly across the board in the fourth quarter (the 13 weeks ended January 28, 2017), as overall same-stores sales fell 4.5% in the quarter, and 1.9% for fiscal year 2017. The 4.5% fall in Q4 sales compares unfavorably to a 4.9% increase in Q4 2016.

JewelryRetail and Consumer Confidence
Bloomberg

Hong Kong Consumer Spending on Jewelry, Luxury Items Slips in January

Retail sales in Hong Kong across all categories resigtered an 0.9% drop in value terms and a 1.4% fall in volume terms year-on-year, according to statistics released last week by the HK government.

Retail and Consumer ConfidenceJewelry

Jewelers Vigilance Committee Appoints New CEO and President

The Jewelers Vigilance Committee (JVC), a committee dedicated to educating and regulating the ethics and integrity of the jewelry industry, has appointed Tiffany Stevens as its new president and CEO, reports JCK. She succeeds Cecilia Gardner, who held this post for 18 years, was general counsel of the World Diamond Council for 15 years and was involved in the Kimberley Process from the time of its inception in 2000.

JewelrySustainabilityRetail and Consumer ConfidenceLegal

Chinese Millennials Wearing Diamonds Daily

As the Hong Kong Trade Fairs get under way, all eyes are on the Chinese retail market and their largest contingent of diamond consumers – the Millennials. Since 2015 luxury jewelers have noticed a growing demand for diamonds by Chinese millennials, aged 18 to 34, who are altering the perception that diamonds are only a symbol of love to be received when getting engaged, married or for an anniversary.

Retail and Consumer Confidence

Diamond Producers Association Goes Prime Time at Oscars

The Academy Awards taking place tonight are not only Hollywood cinema's biggest night of the year, but are also one of the most pivotal annual events for fashion, brands and iconic jewelry.

Retail and Consumer ConfidenceWorld News