JEWELLERY ZONE

  The 40th HK Show to run from 29 February to 4 March   The 40th Hong Kong International Jewellery Show (HK Show) will run from 29 February to 4 March at the Hong Kong Convention and Exhibition Centre in Wan Chai, showcasing world-class jewellery masterpieces and craftmanship. Seminars on innovation and development will explore the use of AI and other digital technology applications in the industry.   The 10th Hong Kong International Diamond, Gem and Pearl Show launched for a five-day (27 February – 2 March) run at AsiaWorld-Expo, showcasing world-class raw materials for jewellers. The 10th Hong Kong International Diamond, Gem and Pearl Show, organised by the Hong Kong Trade Development Council (HKTDC), opened and showcasing a wide range of diamonds, gemstones and pearls – raw materials for jewellers.   At the opening ceremony this afternoon, Dr Bernard Chan, Hong Kong SAR Acting Secretary for Commerce and Economic Development, was the Guest of Honour. The 40th Hong Kong In

  Lighthouse invests in Kushal Fashion Jewellery   Lighthouse India Fund IV AIF has invested INR 284 crores in Kushal’s, India’s leading fashion and silver jewellery brand.   Kushal’s is the first investment by Lighthouse from its newly raised, fourth private equity fund. This round also includes a secondary buy-out providing part exit to its first institutional investor India SME Investments, which invested in 2019.   Founded in 2006 by the Gulechha family, Kushal’s offers a diverse range of fashion jewellery for weddings, festivals, occasions, and every day wear. The Company retails its products through its 75+ stores across 25+ cities in India and online channels.   Kushal’s relentless focus on design, quality and customer experience has enabled it to differentiate in a segment dominated by unorganised players and enjoy high brand salience. The Company has earlier raised funds from India SME Investments followed by MOPE. The current round of growth capital will be utiliz

  WFDB call for action regarding G7 diamond restrictions!   The World Federation of Diamond Bourses (WFDB) has launched a campaign to unite the industry in presenting its concerns regarding the proposed G7 restrictions on diamonds.   The WFDB has sent out a letter (attached) today to the G7 and EU government representatives, detailing the challenges that the “one import node” solution creates for the industry. In addition to the signature of Yoram Dvash, President of the WFDB, the letter has been signed by Feriel Zerouki, President of the World Diamond Council (WDC), Vipul Shah, Chairman of the Gem & Jewellery Export Promotion Council of India (GJEPC), and Ronnie Vanderlinden, President of the International Diamond Manufacturers Association (IDMA).   Presidents and members of the 27 diamond bourses within the WFDB and members from all sectors of the trade will also be invited to add their names.   The letter states: “We the undersigned, representing all segments of

  Lunch of IWD at AWDC on 8th of March   In commemoration of International Women's Day, a special invitation is extended to all women in Antwerp's Diamond, Jewellery & Watch industry to partake in a celebratory luncheon on Friday, March 8th.   Despite being historically male-dominated, with women gaining membership only in 1980, the industry recognizes the indispensable role played by women within its ranks. As the global event honoring women's achievements approaches, it serves as an opportune moment to acknowledge and celebrate their contributions.   Reflecting on the industry's evolution, one poignant anecdote shared was that of a seasoned trader describing his toughest client as a "short-but-mighty woman who could make any man quake in his boots while inspecting his diamonds." Even after three decades, she remains a figure of utmost respect for her unwavering principles and fairness in dealings.   Although many may not have had the cha

  Letšeng plants treated less rough diamonds in 2023   Recently, Gem Diamonds Limited announced their group’s operational and sales performance from 1 October 2023 to 31 December 2023 or say Q4 2023. In the context they reviewed the scenario of Diamond Market.   In the row Gem Diamonds gaze the diamond market scenario & said, the global rough diamond market continued to experience downward pressure in Q4 2023. This negatively impacted the average dollar per carat and revenue achieved during the Period.   Overall tonnes treated by the Letšeng plants in FY 2023 were comparable to 2022. The reduction from 5.5 million tonnes to 5.0 million tonnes was primarily due to the expiry of Alluvial Ventures’ processing contract on 30 June 2022, which contributed 0.4 million tonnes in that year.   Initiatives to stabilise plant performance during Q3 2023 by reducing throughput rates in the processing plants resulted in improved plant availability leading to an increase in tonnes

  De Beers produce 29–32 mn cts diamonds in 2024   De Beers prepared on a consolidated accounting basis, except for production, which is stated on a 100% basis except for the Gahcho Kué joint operation in Canada, which is on an attributable 51% basis. In the row DeBeers also announced their outlook for Market & Operations here!   Operational outlook: 2025 guidance was reduced at the December investor update, reflecting the ramp-up profile at Venetia underground as well as deferral of an expansion project at Gahcho Kué (Canada) into 2026.   Venetia is processing lower grade surface stockpiles while the operation transitions to underground. This will continue as the underground production slowly ramps up following the first production blast in mid-2023. It is expected to ramp up to steady-state levels of c.4 million carats per annum (Mctpa) production over the next few years.   Near term unit cost will be impacted by a low carat profile from Venetia as the underground

  Exogenous Factors Affecting Silver Prices!   Silver Market Trend Report, Factors that Determine the Silver Price by Silver institute said, over the last two decades, the daily silver price (basis the London fix) has risen from a low of $5.50 in 2004 to a high of $48.70 in 2011 before sliding to a bear market through five years later of $13.58. Since then, with the exception of a brief Covid-related spike downwards, silver has tended to recover strongly over the last three years, with several rallies driving the price into the upper $20s. This Market Trend Report seeks to identify and explain the factors behind the rise and fall in the silver price over recent decades. First, it assesses silver's supply/ demand fundamentals to ascertain to what extent changes in these may have affected the price. Second, it looks at various exogenous factors that could have been responsible for movements in the silver price. An analysis of the historical data and contemporary reports of wh

  Needed gender equality in the jewelry industry: ICA   In a recent statement, Damien Cody, the President of the International Colored Gemstone Association (ICA), underscored the pivotal role women play in driving jewelry demand globally. Despite their significant influence on fashion trends, preferences, and designs, women remain underrepresented in crucial sectors and leadership positions within the jewelry industry.   Cody highlighted disparities both downstream, where women are prominently represented in jewelry design and retail segments, and upstream, where they are notably lacking in mining, sourcing, cutting, dealing, manufacturing, and gemological research roles. He attributed this underrepresentation to various factors, including cultural and religious norms that discourage women from entering the workforce.   The ICA, Cody announced, will soon evaluate and adopt several of the United Nations Sustainability Development Goals (SDGs), particularly SDG 5 - Gender Equ

W JA announces Nikia Levesque as VP   The Women’s Jewelry Association (WJA) announces the appointment of Nikia Levesque as the Vice President of the WJA Foundation. With nearly a decade of experience in the jewelry industry, Nikia brings a profound dedication to advancing women’s careers and a proven track record of leadership and innovation.   Susan Chandler, President of the Women’s Jewelry Association and Chief Merchandising Officer for Citizen Watch America, expressed her enthusiasm about Nikia Levesque’s appointment, stating, “Nikia brings a dynamic blend of industry expertise and unwavering commitment to empowering women. Her leadership will undoubtedly propel the WJA Foundation’s mission forward, inspiring countless women to reach new heights in their jewelry careers.”   Nikia’s journey in the profession is marked by excellence in jewelry retail. In high school, Nikia began her jewelry journey at Day’s Jewelers in the service department. Her expertise spans marketing

  WGC appoints Sachin Jain as new CEO, India!   The World Gold Council (WGC) announces that it has appointed Sachin Jain as its new CEO, India, who will take up the role from March 2024.   Sachin joins from De Beers where he has held several senior roles for the past 13 years. As Managing Director of DeBeers India, he has led the De Beers Forevermark business in India and the Middle East. Sachin brings with him deep understanding of the Indian consumer and jewellery market, from strategic thinking to practical execution. He has over two decades of rich experience and understanding of the Indian consumer. Previously, Sachin has held senior positions for De Beers, Lladro, Swatch Group and Benetton.   David Tait, Global CEO, World Gold Council said: “I am delighted that Sachin is joining us at an important time for the Indian gold market. Sachin’s experience in the retail market, and jewellery industry is crucial to our efforts to enhance consumer’s trust in gold and in the I

  Starand Orion recover 66 mn cts diamonds   Star Diamond Corporation provides the technical update on the opportunity for Carbon capture using processed kimberlite from the Star Orion South Diamond Project. This process is known as Carbon mineralization and preliminary studies referenced below indicate that kimberlite waste rock from these kimberlites may indeed function as a significant sink of atmospheric CO2.   The most common mineral in kimberlite is Olivine, and its Serpentine Group weathering products, which, when exposed to the atmosphere at the Earth’s surface, react with carbon dioxide to form solid mineral carbonates and remove carbon from the atmosphere.   When exposed to the atmosphere at the Earth’s surface, Lizardite reacts with CO2 to form stable carbonates. Laboratory studies conducted at the universities show that, under specific conditions, these Lizardite containing kimberlite samples can react with significant quantities of CO2 and remove it from the at

  A challenging diamond market in 2023:   Lucara   Lucara Diamond Corp reports its results for the year and quarter ended December 31, 2023. They also expressed their view on Diamond Market outlook by Lucara Diamond at the yearend! The long-term outlook for natural diamond prices remains positive, anchored on improving fundamentals around supply and demand as many of the world's largest mines reach their end of life. Currently, slower than anticipated economic growth in China and a voluntary import ban on rough diamonds into India in Q4 2023 dampened the recovery of rough diamond prices towards the end of 2023.   Changes in global economic conditions, consumer demand, geopolitical events, and industry-specific dynamics resulted in a challenging market in 2023 with reduced demand and downward pressure on both polished and rough diamond pricing, especially in the smaller size classes.   Restricted supply by the largest producers towards the end of 2023, together with th

  The winners of the 2023-24 IGI Expressions announced   The International Gemological Institute (IGI), the world’s largest gemological organization, has announced the winners of the 2023-24 IGI Expressions Jewelry Design Competition. This year’s event enjoyed unprecedented response, attracting a total of 1,515 submissions from more than 1,100 artists and creatives around the world. From a total of 54 designs advanced as finalists, seven have been named the 2023-24 IGI Expressions™ Champions.   The theme of the competition was Abstract Design with Retro Motifs. Creatives were invited to submit in one of three categories: (1) Statement Piece, (2) Convertible Jewelry and (3) Perfume Bottle or Jewelry Box. The competition included separate segments for sketched versus digital submissions.   The international jury, which included Pradeep Jethani, Helen Mao, Tania Heikal, Punit Balana, Sonal Sawansukha, and Severine Ferrari, evaluated the submissions in three component areas - r

  2024 will benefit Sarine’s core businesses   Sarine Technologies Ltd, a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, announces its financial results for the twelve months ended 31 December 2023. Out of the full report, here are the key highlights!   1: Macro-economic challenges coupled with disruption by Lab Grown Diamonds (LGD) negatively impacted consumer demand for natural diamonds in FY2023. 2: With lower consumer demand, manufacturers reduced polishing activities impairing Sarine’s sale of equipment and recurring scanning revenues. 3: Although macro-economic headwinds persist (mainly in China), the disruption by LGD may be waning due to the sharp fall in LGD retail prices (lowering retailers' margins) and possible growing consumer recognition that LGD are not always substantially more environmentally friendly.  

  WGC launches new, You are Gold campaign!   World Gold Council (WGC) has launched new 'You are Gold' multimedia campaign to reinvigorate the relationship of millennials and Gen Z with gold in a meaningful way in India.   The campaign introduces a film that embraces a broader audience, presenting gold as an ally for youth, both women and men. The film focuses on highlighting stories of individuals that are getting past the doubts, insecurities and shining bright. Showing the world what they can truly achieve. Aiming to empower and uplift millennials and Gen Z by celebrating courage and perseverance amidst evolving perceptions and placing modern gold jewellery as powerful means of self-expression.   Arti Saxena, Head of Marketing, India, World Gold Council, commented, "In today’s cutthroat competitive times where social media broadcasts ones’ successes and failures for all to see, youngsters are constantly faced with self-doubts and insecurities. But it shouldn’

  Handover of plot boosts GJEPC initiative! In a significant advancement for the India Jewellery Park (IJP) Mumbai, a pioneering endeavor by the Gem & Jewellery Export Promotion Council (GJEPC) to fortify India's gems and jewellery sector, a crucial milestone was achieved on February 22, 2024. Media reports indicate that the Maharashtra Industrial Development Corporation (MIDC) handed over a sprawling 43,026.50 square meter plot, marking a pivotal moment in the project's progression. Handover Ceremony Marks Physical Possession: Sandeep Sharma, the Honorary Treasurer of IJP, was bestowed with the plot in a formal ceremony conducted at the Mahape Industrial Area. A.E. Shelke, Head Surveyor of MIDC, presided over the handover. This event signifies the physical acquisition of a segment of the total 86,053 square meter land earmarked for the IJP Mumbai project. However, it's noteworthy that while physical possession has been granted, the legal transfer of land title to