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On February 3, 2020, the shareholders of Tiffany & Co. made official what had already been announced on November 24 last year, as they voted in favor of a takeover by the luxury giant LVMH Moët Hennessy-Louis Vuitton for $16.2 billion, or $135 per share in cash. And so, America’s most iconic diamond jewelry brand came under the umbrella of a group that already owns names like Louis Vuitton, Givenchy, Celine and Bulgari.
The coranavirus, the epidemic which at time of writing is largely contained to China but has already traveled to a number countries on all five continents, is rattling the luxury product markets. Comparable to the SARS epidemic that first struck in the same part of the world in 2003 and 2004, its global economic effects are likely to be larger because China’s share of the global economy is considerably bigger today, and also because economies are much more interlinked than they were 17 years ago.
Within the most exclusive echelons of diamond jewelry collectors the name De Grisogono was something of an enigma. A Geneva-based jewelry house, it had been founded in 1993 by former Bulgari executive, Fawaz Gruosi, an Italian of Lebanese origin. At the time he promised customers an offering of exclusive works of art and black-diamond jewelry. The company’s name, which is rooted in both the Latin word “Chrysogonus” and the and Greek word “Chrysogonos,” means “begotten of gold”.
The second largest rough diamond ever discovered, the Sewelo, has been acquired by Louis Vuitton, the French fashion house and luxury retail company owned by the world’s largest luxury product brand, LVMH.
For 35 years Australia has been considered a major diamond producer, albeit in terms of volume rather than the value. This status is almost entirely due to one single mine, Argyle. Producing more than 90 percent of the country’s rough diamonds, at the peak of its production, in 1994, it was putting into the market some 42 million carats, about 40 percent of total world output. But all this is scheduled to end in the fourth quarter of 2020.
The second largest rough diamond ever discovered, the Sewelo, has been acquired by Louis Vuitton, the French fashion house and luxury retail company owned by the world’s largest luxury product brand, LVMH.
A lawsuit just filed in a federal courtroom in the Southern District of New York has underscored how different the laboratory-grown diamond business is from the natural diamond industry.
As it does it each year, through the end of January and the first two weeks of February the Arizona desert will attract gemstone and jewelry buyers from around the world.
A watershed moment for the diamond industry occurred on May 29, 2018, the day before the start of the JCK Show in Las Vegas. In a move that few expected, the world’s most well know rough diamond mining company announced that it was launching a fashion jewelry brand with laboratory-grown diamonds called Lightbox Jewelry. They would begin selling online that September at a fixed price of $800 per carat, which at the time was about 75 percent lower than those being charged by existing lab-grown diamond producers.
A watershed moment for the diamond industry occurred on May 29, 2018, the day before the start of the JCK Show in Las Vegas. In a move that few expected, the world’s most well know rough diamond mining company announced that it was launching a fashion jewelry brand with laboratory-grown diamonds called Lightbox Jewelry. They would begin selling online that September at a fixed price of $800 per carat, which at the time was about 75 percent lower than those being charged by existing lab-grown diamond producers.
The massive growth of the diamond market that occurred largely during the second half of the 20th Century, in the years following World War !!, was led by three generations of Western buyers, which today are known largely as the Great Generation, comprising individuals who fought or were married to soldiers who were involved in the Second World War; the Baby Boomers, who born during the economic boom period of 1950 and 1960s, and Generation X, which came into its own during the 1970s and 1980s.
Christmas 2019 has come and gone and New Year Eve is soon upon us. Gifts have been given, unwrapped and even returned. Official data will be not be out until mid-January, but in the United States jewelry retailers have already begun summing up the holiday season that has just past, and initial reports seem pretty positive.
With the last of its ten rough diamond sales cycles wrapping up December, De Beers has ended the year on a little more of an upbeat note, but nonetheless down on what it reported in 2018.
With the last of its ten rough diamond sales cycles wrapping up December, De Beers has ended the year on a little more of an upbeat note, but nonetheless down on what it reported in 2018.
Technological developments are changing the nature of the laboratory-grown diamond market, and in particular those stones that are synthesized using CVD techniques, states Bain and Co., in its recent report on the diamond industry produced together with the Antwerp World Diamond Center (AWDC).
The 2019 end-of-the-year shopping season began powerfully in the United States, the world’s largest market, with a record 189.6 million U.S. shopped from Thanksgiving Day, November 28, through Cyber Monday, five days later, an increase of 14 percent over last year’s 165.8 million, reported the National Retail Federation and Prosper Insights & Analytics.
In early December, the Pantone Color Institute named “Classic Blue” as its color of the year for 2020. It was the second time that a bluish hue had been chosen, following the selection of Cerulean in 2000.
In early December, the Pantone Color Institute named “Classic Blue” as its color of the year for 2020. It was the second time that a bluish hue had been chosen, following the selection of Cerulean in 2000.
Despite geopolitical turbulence and fears of recession, the overall luxury market – encompassing both luxury goods and experiences – grew by 4 percent in 2019 to an estimated $1.44 trillion globally. The core personal luxury goods segment, which includes jewelry, followed a similar path, achieving 4 percent growth and reaching €312 billion.
Thieves got away with a collection of jewelry at museum in the historic German city of Dresden in what local police are describing as the largest such theft since World War II. But the museum’s most famous showpiece, the 41-carat Dresden Green Diamond was not taken, because it currently is on loan at the Metropolitan Museum of Art in New York City.
Some are calling it the jewelry deal of the millennium. That’s difficult to say, but less than 20 years in, it almost certainly will register as the jewelry deal of the 21st Century.
After five days of deliberations in New Delhi, with the deadline for the end of the Kimbreley Process’ three-year review and reform cycle fast approaching, delegates made a last-minute attempt to reach consensus over a broadening of the definition of what constitutes a “conflict diamond.” But they ultimately failed to reach agreement.
For possibly the first time in a formal industry setting, representatives of both the natural and laboratory-grown diamond sectors have come together with the intention of establishing a set of mutually agreed-to principles that will regulate thee relations between the product categories.
JMA Hong Kong, the final major Asian trade show of 2019, which takes place for the 27th
time right at the start of the traditional Western holiday shopping season and about three
weeks before the beginning of the Chinese New Year, has become the focus of a great deal
of attention this year, in part because of the political turmoil currently bubbling in the Asian
business capital.
Representative of the tripartite coalition that makes up the Kimberley Process will assemble
in New Delhi, India, on November 18, for a five-day Plenary Meeting at which the fate of the
organization’s three-year review and reform cycle will be decided.