Botswana’s Minister Moagi and De Beers’ CEO Bruce Cleaver in an interview speak of the challenges in renewing their contracts and the impact of lab grown. They debunk some sustainability claims and discuss the importance of empowering the people of Botswana, changes in KP, a flat production forecast, and what role smart mining may play in the future.
Insights Into the Diamond Industry
Our latest insights, expert analysis and thinking on the topics that matter most in the diamond industry.
2
De Beers and ALROSA Market Share 2021
The major diamond-mining companies increased their market share in 2021. The sole exception was Rio Tinto, which closed Argyle. This year, it is ALROSA that is expected to lose market share. Although rough diamond supply to the market decreased in volume compared to 2019, total value increased.
First Half of 2022: Jewelry Sales Rose, Average Value Soars
In the first half of 2022, US jewelry sales rose year over year. However, sales waned until they fell behind in June. And yet, spend per item is rising.
2
Global Diamond Production +12% in 2021 – But Really Declining
Global diamond production increased 12% to 120 million carats in 2021. And yet, last year’s production fell short compared to 2019 and was one of the lowest production levels in more than a decade. There are reliable reports of smuggling out of some diamond-mining countries.
10
Lab Grown: All Fears Materialized
In 2018, De Beers launched Lightbox Jewelry, a lab-grown-set jewelry collection with an unstated primary goal of disrupting the lab-grown market through devaluation and separation. Divide and conquer is an age-old battle strategy, but in this case, it didn’t work as well as hoped for. Surprisingly, not only is the natural diamond industry seeing its fears materialize. So also is the lab-grown industry. Following is the sum of all their fears.
2
Brace Yourself, The Decline is Here
After two very buoyant years, the softening everyone knew would hit has finally arrived. It’s not just the slowdown in China, the second largest consumer market, but the US is feeling it as well.
US Jewelry Sales Explosion Continues, Surges 50% in November
A jewelry sales explosion is taking place, and American consumers are buying jewelry like never before. These are the November figures, including the radical rise in engagement ring prices.
US Holiday Jewelry Sales Predicted to Rise 40%
Based on our market analysis, we predict US holiday jewelry sales to rise of 40-42% in the November-December holiday period. Annual jewelry sales are expected to total $94-$95.3 billion in 2021, rising 51%-53% year over year.
Spending on Jewelry: Almost All Spent More
In 2020, the average US household purchased $475 worth of jewelry, up 9.8%, an outstanding outcome of an otherwise very miserable year. This is how much Americans spend on jewelry during the COVID era.
6
The LGD Price Anomaly: Demand Rises, Prices Decline
There is an anomaly in lab-grown prices. Demand is high but prices are declining, especially for larger goods in demand for the bridal industry. Here are the dynamics, prices, retail details and changes in demand. Plus, what the actual price gap is between natural and LG: a diamond market analytics review.
