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BAIN-AWDC: AFTER BRILLIANT RECOVERY FROM COVID CRISIS, DIAMOND INDUSTRY POISED FOR FURTHER GROWTH

Following a rollercoaster 2020, during which the diamond industry proved its resiliency, a “brilliant recovery” was staged in 2021, with every sector of the industry performing well, noted Bain & Company and the Antwerp World Diamond Center, in the 11th of their annual reports on the diamond industry. The market is expected to remain strong through the first half of 2022, the research paper added.

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ISRAELI DIAMOND INDUSTRY RECOVERS AFTER STRUGGLING IN 2020, LOOKING TO RAISE PROFILE IN UAE, BAHRAIN AND QATAR

Israel’s diamond industry recovered strongly in 2021, following an extremely tough 2020, when weighed down by the crisis brought on the by the COVID-19 pandemic, exports and imports had crashed. Indeed, reported the Diamond Controller at Israel’s Ministry of Economy and Industry, figures registered over the past 12 months surpassed not only those from one year previously, but also those reported in 2019, the year before the onset of the crisis.

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ON THE EDGE OF SCIENCE’S FRONTIER
DIAMONDS FROM A DIFFERENT PERSPECTIVE: ON THE EDGE OF SCIENCE’S FRONTIER

With the holiday season drawing to a close and the end-of-year shopping season soon to be in the rear mirror, it may be time to change gears and consider the world’s most popular gemstone from a different perspective. For while the diamond primarily fascinates jewelry consumers, it’s a mineral of interest to many others, and particularly those in the scientific community, for a variety of reasons.

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JEWELLERY TRADE NEEDS TO CONSIDER RESALE MARKET, SUGGESTS IN-DEPTH MCKINSEY REPORT ON LUXURY SECTOR

Second-hand, or even third and fourth-hand diamond jewelry could represent a treasure trove over coming years suggests a recently published report released by McKinsey & Company, which has estimated that the resale luxury market already was worth between $25 billion and $30 billion in 2020, and is likely to grow at an annual rate of between 10 percent and 15 percent over the coming decade.

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2021 Israel Diamond Industry Dignitary Award recipient and founder of MID House of Diamonds, Benny Meirov
MID HOUSE OF DIAMOND CO-FOUNDER NAMED RECIPIENT OF 2021 ISRAEL DIAMOND INDUSTRY DIGNITARY AWARD

Benny Meirov, an owner and founder of MID House of Diamonds, has been named by the Israel Diamond Manufacturers Association as a 2021 Israel Diamond Industry Dignitary Award recipient, They are granted to worthy individuals in recognition of their contribution to the development of the diamond sector in Israel, and are considered to be the highest honor that can be bestowed by the industry on its own members.

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Alrosa Diamonds
TAKING A CUE FROM DE BEERS, ALROSA REVISES ITS ROUGH ALLOCATION SYSTEM

Alrosa, Russia’s state-controlled diamond producer, has announced that it will be copying a page from De Beers’ playbook, taking into account the specifics of a client’s business when preparing parcels for its Alrosa Alliance members, the exclusive list of companies that are eligible for a regular supply of rough goods from the company.

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