Diamond Jewellery News

By Ken Gassman for IDEX Online

New York–Total U.S. jewelry and watch sales were a record $68.3 billion in 2011, a gain of 11 percent over 2010, based on preliminary data from the U.S. government.

This was well ahead of 2010’s $61.5 billion and substantially ahead of the prior record year–2007–when U.S. jewelry and watch sales were $65.3 billion.

In the 2007-2009 period, the U.S. economy was in a recession. While many jewelers claimed hardship, the recession actually had only a modest impact on retail jewelry sales. Peak-to-valley–2007 through 2009–jewelry and watch sales dropped by only 11 percent in the U.S. market before posting a solid recovery in 2010 and 2011.

Total jewelry sales rose by 10.8 percent to $59.2 billion in 2011, while total watch sales rose by 12.1 percent to $9.1 billion. Watch sales were 13 percent of total industry sales, stable with the prior couple of years.

The total industry sales gain was the first double-digit increase since the mid-1980s, when the industry posted several years of sales gains in the low-to-mid teen range.

Most of the sales gain in 2011 was due to inflation related to higher costs of precious metals and polished diamonds. Retail jewelry prices were up by about 8.4 percent during the year. So “real” jewelry sales rose by about 2.6 percent.

This article was first published on IDEX Online on Feb. 1.

Antwerp–The three-year-old Antwerp Diamond Trade Fair (ADTF) recorded its largest show last month, bringing in approximately 350 buyers and 70 booths.

The event, held Jan. 29-31 here, was organized by Antwerp’s two largest diamond exchanges, the Antwerp Diamond Bourse and the Diamond Club of Antwerp. Visitors from Europe, the Middle East, Thailand and Turkey were in attendance.

“The fair’s performance exceeded that of the two previous editions, in particular due to the high quality of the buyers who attended this year’s fair,” exhibitor Joris Vets of Emiel Vets & Zonen in Antwerp said. “We were very happy with the format and focus of this fair, and we’re looking forward to next year’s event.”

Exhibitor Bert Jan Schatz of Benelux Diamond LV, also in Antwerp, said he was impressed with the show’s smooth and solid organization.

“It was very well organized, and the buyers were highly motivated and keen on doing business,” Schatz said. “We saw buyers from Spain and Italy, in spite of the economic difficulties in those countries, who did not want to miss out on this exclusive opportunity to source diamonds in Antwerp.”

Additional information on the fair can be found on the ADTF website here.

London–De Beers mined an estimated 31.3 million carats in 2011, a 5.2 percent decrease from 2010, based on figures released by Anglo American.

Diamond production by De Beers in the fourth quarter decreased 24 percent to 6.5 million carats. The reduction mainly reflects De Beers’ focus on increasing waste stripping and maintenance work at the Debswana operations in Botswana and DBCM operations in South Africa.

The work was “in recognition of short-term global macro-economic volatility,” 45 percent stakeholder Anglo American stated in a production report.

Compared to the 9.3 million carats mined in the third quarter of 2011, production in the fourth quarter decline 30 percent.

Last November, the Oppenheimer family accepted Anglo American’s offer to buy the Oppenheimer’s 40 percent stake in De Beers for $5.1 billion.

De Beers is expected to release 2011 figures in the first week of February.

This article was first published on IDEX Online on Jan. 26.

Designer Collections debut featuring Forevermark Diamonds to celebrate the start of the Awards Season

Forevermark diamond designer collections debuted on the red carpet of the 69^th Annual Golden Globe Awards, with Golden Globe Winner Michelle Williams dazzling in Fred Leighton jewellery featuringForevermark diamonds.“Forevermark diamonds are responsibly sourced. I like that I know where they come from and that I can feel confident wearing them.On occasions like this, I get to play dress up, but it’s nice to feel good about what you’re wearing.” –Michelle Williams explains.

Classic diamond jewelry trends in the form of diamond cuffs and bangle bracelets, diamond studs, drops and chandelier earrings, right hand rings and diamond broaches emerged as top picks on the red carpet.Whether a nominee or simply part of the Golden Globe Awards excitement, stars looked to Forevermark diamonds, the world’s most carefully selected diamonds from the DeBeers group of companies, to complete their red carpet looks.

My Week With MarilynBest Actress Golden Globe WinnerMichelle Williams chose a Fred Leighton for Forevermark Diamond Garland Headband, Fred Leighton for Forevermark Diamond Stud Earrings and a Fred Leighton for Forevermark Diamond Snake Ring

Earlier in the week, a strong gathering of Hollywood talent came out to support the debut of Forevermark Designer Collections in an InStyleMagazine and Forevermark co-hosted cocktail event.  The event showcased a presentation of designer capsule collections featuring Forevermark diamonds at Beverly Hills Hotel. Golden Globe Winner Michelle Williams sparkled in Forevermark diamond bracelet and ring, along with Miss Golden Globe 2012 Rainey Qualley, Rebecca Romijn, Ashley Madekwe, Julianne Hough, Jessica Szohr, Leven Rambin, Aasha Davis, Julia Jones, Jessica Joffe and AzitaGhanizada who all donned pieces from the Forevermark designer collections at the event.

Among the featured Forevermark designers are Hoorsenbuhs, Fred Leighton, Kimberly McDonald, Me and Ro, Stephen Webster, Martin Katz, Mimi So and Neiman Marcus Private Collections. Other stars came out to support the showcase including Golden Globe presenterJessica Alba, Mary J. Blige, Forrest Whittaker, Busy Phillips, Rosanna Arquette, Alexandra Breckenridge, Sophia Bush and Nina Dobrev.

Dr. Rajeshree Gokhale, along with 2 Faculty Members and 29 students from B.M. College of Commerce, Pune, visited IIGJ on 23rd January 2012. They were received by Dr. Vikram Mehta, Director, IIGJ Mumbai, and Alumni of B.M.College of Commerce, Pune, Col. S.K.Arora (Retd), Head of the Institute, IIGJ Mumbai., Dr. R.K.Avasia, Technical Training Incharge & Mr. Uttam Das- Manufacturing Faculty  of IIGJ Mumbai.

The purpose of their visit was to understand the infrastructure and facilities of IIGJ Mumbai. They saw some of the latest equipment for the Jewellery Manufacturing, such as the CAM Machine and Laser Soldering Unit, which are available for teaching purpose only at this Institute.  Students interacted with the Faculty regarding the various types of courses conducted at both the Institutes.

After going around the Institute, Dr. Rajeshree Gokhale commented in the Visitors Book “An amazing institute to understand the importance of the Diamond Industry & to feel proud that India is a leading player. Inspirational for students to join the courses”

The inaugural GIA (Gemological Institute of America) Jewellery Career Fair in Bengaluru was held Sunday, Jan. 22 at Vijaya College in Bengaluru. The event, which attracted more than 400 job seekers and 30 recruiters, was held in association with the Jewellers’ Association, Bengaluru.

GIA Career Fair, recognized as the gem and jewellery industry’s preeminent recruiting event, provides employers and job seekers the opportunity to meet and explore the possibility of working with one another.

“The success of this program in India – Mumbai, Delhi and now Bengaluru – is a testimony to the promise of our industry and the variety of career opportunities available,” said Nirupa Bhatt, Managing Director of GIA in India and the Middle East. “GIA Career Fair is more than just a recruiting event; it is aimed at the professional development of new talent who want to join the industry. I thank all of the recruiters and trade members for supporting this event whole heartedly.”

The jewellery market in Bengaluru has experienced significant growth due to its progress as an IT hub. This has created an increase in demand for a skilled workforce, according to Bhatt. Successful retailers want to hire sales associates with gemological knowledge who can confidently address the concerns of the customer.

“Bengaluru is an ideal city for this event due to the significant consumer market, which is driven by the large number of retail businesses present,” said Mr. S V Babu, president of the Jewellers’ Association. “We are proud to collaborate with GIA on its Career Fair because it is a valuable platform for the industry as a whole. Job seekers have the opportunity to demonstrate their skill sets, while the recruiters introduce the scale of their businesses and the value they offer.”

Renowned panelists included industry stalwarts like Mr. Vinod Hayagriv of CKC, Mr. Pratap Kamath of Abaran, Mr. Mahesh Rao of Peakok Jewellery and celebrity jewellery designer Ms. Pallavi Foley. The roster of recruiters included a mix of large and small companies from throughout Bengaluru. Participating employers included Tanishq, Abaran Jewellers, Aparanje Jewellers, Davanam Jewellers, Reliance Jewels and more.

For more information about GIA Career Fair in India, contact Sunayna Ullal at +91 22 40851500 or visit www.giaindia.in.

About GIA

An independent organization, GIA (Gemological Institute of America) is recognized as the world’s foremost authority in gemology. Established in 1931, GIA has translated its expert knowledge into the most respected gemological education available. Early in the 1950s, GIA invented the famous Four Cs of Color, Cut, Clarity and Carat Weight. In 1953, the Institute created the International Diamond Grading System™ which, today, is recognized by virtually every professional jeweler in the world.

Through research, education, gemological laboratory services, and instrument development, the Institute is dedicated to ensuring the public trust in gems and jewellery by upholding the highest standards of integrity, academics, science, and professionalism. GIA can be found on the web atwww.gia.edu.

About JAB

The Jewellers’ Association, Bengaluru was founded in 1941 and organises educational seminars and trade shows, offers jewellery designing and diamond grading courses, and appraises gold and silver exports. To better serve its members, the association also educates on the latest information related to trade.

The Responsible Jewellery Council (RJC) announced that eleven members have achieved certification meeting the ethical, human rights, social and environmental standards as established by the RJC’s Member Certification System.

The eleven firms are:
Allgemeine Gold-und Silberscheideanstalt AG
Boite d’or Gioielli
Cristofol
De Beers Diamond Jewellers Ltd
Dharm Diam BVBA
Exelco
Gemasia Bvba
I.D.R.P. BVBA
InterJewel (Thailand) Co. Ltd
M/S D. Navinchandra Exports Pvt Ltd
Samir Gems NV

Diamond production by De Beers in the fourth quarter decreased 24 percent to 6.5 million carats. The reduction mainly reflects De Beers’ focus on increasing waste stripping a nd maintenance work at the Debswana operations in Botswana and DBCM operations in South Africa.

The work was “in recognition of short-term global macro-economic volatility,” 45 percent stakeholder Anglo American stated in a production report.

Compared to the 9.3 million carats mined in the third quarter of 2011, production in the fourth quarter decline 30 percent.

Last November, the Oppenheimer family accepted Anglo American’s offer to buy the Oppenheimer’s 40 percent stake in De Beers for $5.1 billion.

De Beers is expected to release 2011 figures in the first week of February.