06 Jun
Signet Jewelers Limited announced two executive appointments that it said rounded out its leadership team that would drive the company’s transformation under its Path to Brilliance plan. Mary Elizabeth Finn has been named Chief People Officer and Stephen E. Lovejoy has been named Chief Supply Chain Officer, effective immediately. Finn and Lovejoy will report directly to the Chief Executive Officer, Virginia Drosos. “Mary Liz and Steve are joining Signet at a very exciting time as we embark on our Path to Brilliance, and each will play a critical role in building our culture of agility and efficiency. Mary Liz will help us continue to foster diversity and inclusion, and to lead training and development for all team members, while Steve will leverage his retail expertise to drive greater...
06 Jun
Signet Jewelers Limited, the world's largest retailer of diamond jewellery, today announced its results for the 13 weeks ended May 5 — the first quarter of fiscal 2019 — reporting total sales of $1.48 billion, up 5.5 percent from the $1.4 billion reported in the first quarter of fiscal 2018. On a constant currency basis, this was an increase of 4.3 percent. Same store sales, however, remained flat when compared to the same quarter last year. Signet maintained its 2019 fiscal guidance of $5.9 billion to $6.1 billion in total sales and same store sales down by low-to-mid single digits. The company also continues to expect $475 million in share repurchases during this fiscal year, of which $60 million were repurchased in the first quarter. Company Chief Executive Virginia Drosos commented, “...
06 Jun
Coloured gemstone producer Fura Gems Inc. has begun drilling at its Coscuez emerald mine in Colombia to estimate its mineral resource and also get better control of its output grades. Company Chief Executive Dev Shetty commented, “Initial results have been very encouraging. This drill program is an important part of the aggressive growth strategy for the Coscuez mine and will help to establish our maiden mineral resource and provide better controls on grade as we move towards production. I am confident that every activity that we undertake in advancing the project to full production will generate value for the company and its shareholders, as well as for the emerald sector in Colombia. The diamond core drilling program commenced on May 28 in the mine’s La Paz tunnel and a total of 2,500...
06 Jun
The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review. The SoW review and reform process is part of the WDC strategic plan and is intended to help industry participants better implement and demonstrate commitment to responsible business conduct when buying or selling rough and polished diamonds.  The reforms establish a new level of adherence for members and call on users of SoW statements to ensure their trading activities maintain strict adherence of universally accepted principles on human and labor rights, anticorruption and anti-money laundering in support of the obligatory Kimberley Process Certification Scheme (KPCS) implementation.  The draft of the SoW Guidelines are available for review now...
06 Jun
The Gemological Institute of America (GIA) will offer its new Advanced Synthetic Diamond Seminars in August in Mumbai and London, and in October at its world headquarters in Carlsbad, California.  Held at GIA schools in each city, the seminars are scheduled around other industry events, including the GIA International Gemological Symposium in Carlsbad, California; the Hong Kong Gem and Mineral Show; the India International Fashion Jewellery & Accessories Show; and the International Jewellery London trade show. Taught by GIA research scientists and experienced classroom instructors, the seminars will combine lectures with practical lab instruction, including the latest GIA instrumentation for differentiating natural diamonds from CVD and HPHT synthetic diamonds and diamond simulants....
05 Jun
The Diamond Producers Association (DPA), said in a press statement that its inaugural paid media campaigns have garnered 1.5 billion media impressions among its target consumer audience — those aged 21 to 34 — during the first 12 months of advertising. The DPA said it had spent $40 million on the campaigns between June 2017 and June 2018. Television and digital video (43 percent) and digital and social media (42 percent) were a major focus of investment. Print (10 percent) and strategic out-of-home including cinema (5 percent) rounded out the mix. The media reached 98 percent of its core audience — on average 20 times over the course of the year. The DPA said that according to an independent, cross-media study by Kantar Millward Brown (KMB), each individual channel played a role in...
03 Jun
This year’s JCK Las Vegas show has 38 Indian firms in the India Pavilion organised by the Gem & Jewellery Export Promotion Council (GJEPC). With an across-the-board participation of loose-diamond, coloured gemstone and jewellery manufacturing firms, the pavilion, which is in its 15th edition, is spread across 63 booths. GJEPC Chairman Pramod Agrawal said, “India’s exports to the US accounted for a staggering $8.9 billion in 2017. In fact, around 16 percent of the gem and jewellery imports into the US are from India. The JCK Las Vegas show is an important platform for India to further strengthen its network and improve its exports to the US. It is also an opportunity for Indian exporters to understand the trends in the market, enabling them to come back every year with wide varieties...
01 Jun
Coloured gemstone producer Fura Gems Inc. unveiled a new brand identity along with an evolved logo and new tagline. Together with a strong social media presence, Fura said the changes were intended to strengthen its communication with key stakeholders and consumers.  The rendition of the new Fura logo, which is an evolution of Fura’s existing logo, is inspired by the Fura and Tena mountains of Colombia. The company said that the mystery and magic of the Fura and Tena mountains and its classic love story has been the inspiration behind the Fura brand name since it was launched in 2017. Fura said that the new tagline, ”We discover the gem", is meant to capture the core of its business. These gems, which are true miracles of nature were created millions of years ago and at Fura, we discover...
01 Jun
WDC Executive Director Marie-Chantal Kaninda
World Diamond Council (WDC) Executive Director Marie-Chantal Kaninda on Thursday urged the US government to participate in the WDC and to support meaningful change by exercising its voting rights in the Kimberley Process. Kaninda was addressing a gathering of US State Department officials and civil society members on the topic of responsible diamond sourcing and the Kimberley Process.  This is the first time that the WDC presented to the US State Department and is part of the WDC’s strategy to raise awareness for and encourage participation in efforts to combat conflict diamonds. The presentation was part of a series hosted by the US State Department Office of Threat Finance Countermeasures, which advances policies that...
31 May
ALROSA announced that it had $14.5 million worth of what it calls ‘special size’ (weighing over 10.8 carats) rough diamonds at its auction in Israel. The company said 112 lots weighing an aggregate 1,824 carats were sold, with over 100 firms from Israel, Belgium, India, the US and the UAE participating in the bidding. Evgeny Agureev, Director of ALROSA’s rough diamond sales arm, the United Selling Organisation (USO), commented that the auction, the third this year, had achieved prices significantly higher than the opening bids. There was high interest from Israeli firms, which traditionally have specialised in these goods, he added. ALROSA plans another three auctions in Israel before the end of the year, with one being held concurrently with the Joyella jewellery exhibition in June....
31 May
Example of a GIA report with proprietary cut name listed(the Centauri Cut is not an actual proprietary cut)
The Gemological Institute of America (GIA) announced that under its Proprietary Cut program, clients can now opt to have branded cut names listed on the report along with the diamond shape and cutting style description. GIA said that clients who want to participate participate in this program will be required to provide supporting documentation, including diamond facet arrangement. Only clients who have completed the documentation will be able to submit diamonds as part of this program. The service is offered at no additional charge.
31 May
After having opened its first diamond testing and grading laboratory in Ramat Gan, Israel earlier this year, Sarine Technologies Ltd. has just opened its second laboratory in Mumbai. The lab offers reports covering the broadest range of diamond information available in the market today, including AI-based automated 4Cs grading, diamond authentication, treatments verification, light performance, the Sarine Diamond Journey rough-to-polished documentation, advanced interactive diamond imaging, and more. Sarine CEO David Block said, “The Mumbai lab's opening is a critical step. It will enable us to provide an efficient, local solution for our high-volume retail customers, by certifying their diamonds immediately after they are polished. This will allow the majority of retailers, who buy...
30 May
Responding to the announcement of De Beers launching its own brand of synthetic diamond jewellery, the Gem & Jewellery Export Promotion Council (GJEPC) said it expects that with the introduction of branded, synthetic diamonds, De Beers will drive clear differentiation and categorisation in the diamond product category amongst the consumers. In a press statement, the GJEPC added that synthetic or laboratory-grown diamonds are a completely different product and can't be compared to natural diamonds which derive their value from being natural, precious and rare. A natural diamond stands for the most precious emotions and is a luxury product with a timeless appeal. The GJEPC said that the De Beers move would also position natural diamonds as being unique, premium and luxury. The GJEPC...
29 May
Stephen Lussier
The Diamond Producers Association (DPA) released a statement in response to the De Beers announcement that it was launching a synthetic diamond jewellery brand Lightbox. The DPA statement said: The Board of the Diamond Producers Association acknowledges the decision of the De Beers Group of companies to enter the synthetic diamond market through its subsidiary Element Six. The DPA’s objective is to promote long term demand for diamonds as unique miracles of nature. The DPA Board, its members and its team remain fully dedicated to this important mission. Stephen Lussier, Chairman of the DPA and Executive Vice President of Marketing for De Beers Group, commented, “De Beers Group’s commitment to the Diamond Producers Association is stronger than ever...
29 May
India’s Gem & Jewellery Export Promotion Council (GJEPC) today announced a major revamp and expansion of the 2018 edition of its flagship IIJS show, slated to run from August 9 to 13. At a presentation to industry media in Mumbai today, GJEPC National Exhibitions Convener Shailesh Sangani said the revamp also included internal show navigation via Google maps that would feature every exhibitor in the show, a mobile-phone App and a chip-loaded visitor-entry badge valid for three years — and six trade shows, as it included the IIJS Signature shows that run at the beginning of each year.  To begin with, the expansion is substantial. This year’s show will be situated on a 62,000 square metre show area, up 19 percent from last year’s 52,000 square metres. The expanded area will accommodate...
29 May
De Beers Group today announced the launch of a new company called Lightbox Jewelry that will begin marketing a new brand of laboratory-grown diamond jewellery under the Lightbox name in September, offering consumers high-quality, fashion jewellery designs at lower prices than existing lab-grown diamond offerings. Lightbox lab-grown diamonds will retail from $200 for a quarter-carat stone to $800 for a one-carat stone. The line will bring something new and innovative to the jewellery sector, featuring pink, blue and white lab-grown diamonds in a selection of accessibly-priced earring and necklace designs. “Lightbox will transform the lab-grown diamond sector by offering consumers a lab-grown product they have told us they want but aren’t getting — affordable fashion jewellery that may not...
28 May
Bhoopesh Kumar Jain
India’s Enforcement Directorate (ED), the state agency that deals with economic offences, arrested on May 25, Bhoopesh Kumar Jain, the Managing Director of Kanishk Gold Private Limited (KGPL) on charges of money laundering. The jewellery retailer stands accused of defrauding a consortium of 14 banks of ₹824.15 crore ($122 million). Jain and his wife Neeta, who are both promoters of KGPL, were questioned in March this year after the Central Bureau of Investigation (CBI) raided the firm after banks discovered that supposed stocks of gold for which loans were advanced to the company, were non-existent. The couple reportedly fled to Mauritius in April, when the company’s assets and fixed deposits worth cumulative  ₹191 crore were frozen or attached...
28 May
Workface at Koidu Holdings diamond mine in Sierra Leone
Sierra Leone’s new President Julius Maada Bio, who has vowed to fight a three-pronged war against indiscipline, corruption and poverty, has said he will follow through on his election promises to review mining contracts and change laws if necessary to ensure the country gets a bigger share of the proceeds from its mineral wealth. Mining, consisting mainly of diamonds, iron ore and mineral sands, constitutes 80 percent of Sierra Leone’s exports, but generates just 15 percent of the country’s revenue. President Bio last month denounced what he called a ‘lack of transparency’ in the sector and vowed to change things. He called for a review of the 2009 Mines and Minerals Act and the individual licenses of mining...

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