Is it appropriate for the diamond industry to offer mass quantities of loose one-carat diamonds at these events? What is the message we are sending to the high-end consumers who frequent trade fairs, if they see high-end diamond jewelry pieces at one booth, and then loose diamonds in large quantities offered at wholesale prices at another booth? Does this help us promote diamonds as a rare creation of earth or harm those efforts? Isn’t it clear that we are hurting our own business with these actions?
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.
For the past three days a delegation of leading jewelers and diamond traders from the United States have been getting acquainted with their counterparts in Antwerp, enjoying a behind-the-scenes look at the diamond capital and doing business at high-level networking events.
For the last few years, banks have been running away from the diamond and jewelry industry. But now, a trio of trade veterans has come up with a plan to bring liquidity back to the business. Excelsior Capital Ventures (ECV)—managed and owned by Gitanjali USA nonexecutive chairman Nehal Modi, former Samuels Jewelers chairman David Barr, and Aston Luxury Group president Jon Mitchell—will conduct asset-based lending for the industry, but with a twist: It will take custody of every asset it loans against and have a marketing arm that can sell those assets.
Industry analyst Edahn Golan shares his impressions from last week's JCK trade fair in Las Vegas. Price consciousness throughout the retail chain and bloated inventory were common themes consistent with slower market demand. More notable was his perception of a real need for a consistent and transparent way to measure the enduring value - read, resale value - of diamonds, without too rigidly commodifying them, and the strong movement of high-end items and original, particularly handmade designs.
Lapland is increasingly a destination for mining companies, with the rush starting two years ago and accelerating. Recent studies show that the Artic region holds significant reserves of diamonds, rare earth, coal, uranium, gold, diamonds, zinc, platinum and nickel.