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UN climate change
ALTHOUGH NOT AMONG THE WORST SERIAL OFFENDERS DIAMOND INDUSTRY ALSO UNDER PRESSURE TO REDUCE CARBON FOOTPRINT

The diamond industry, although tangentially connected to fashion, is a minor offender in comparison. While its product is mined and is actually comprised of carbon, the process by which diamonds are extracted and processed have a relatively small environmental footprint. But small as it may be, it is not non-existent, meaning that it, too, is contributing to global warming and climate change.

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‘I DO’ CAMPAIGN diamond ring
DE BEERS CELEBRATES COMMITMENT ONCE AGAIN WITH ‘I DO’ CAMPAIGN, AND UNITES ITS TWO PRIMARY BRANDS UNDER ONE UMBRELLA

On November 1 the De Beers announced a new global campaign. It retains the spirit of a the original “A Diamond is Forever” promotion, but this time is more vague as what committed relationship is being honored. Centered around the expression “I do,” it clearly is designed to appeal to couples considering marriage, but De Beers also is reaching for a broader audience.

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6 classic diamonds
2020 WAS YEAR OF TWO HALVES, SAYS DE BEERS REPORT, BUT RECOVERY WAS GENERALLY SWIFT IN 2021

Almost a year later, the final results are in, with conclusive data about COVID-impacted 2020 being provided by De Beers in its recently released Insight Report. According to the document, global demand for diamond jewelry in 2020 declined by an estimated 14 percent year-on-year to $68 billion, mostly as a result of a sharp drop in sales during in the six months of the year, was followed by moderating second six months.

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SUSTAINABILITY CONSIDERATIONS RANK WITH PRICE AND DESIGN
SUSTAINABILITY CONSIDERATIONS RANK WITH PRICE AND DESIGN WHEN CONSUMERS CHOOSE DIAMONDS, SAYS DE BEERS REPORT

Sustainability considerations now rank on par with price and design for global consumers when purchasing diamonds, with fine jewelry ranking third, after only food and clothing, as the category most frequently purchased on the basis of sustainability considerations, and one in five consumers globally having bought jewelry in recent years specifically because of its sustainability credentials. This according to new research published by the De Beers Group in its eighth annual Diamond Insight Report.

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SPEAK TRUTH
LAB-GROWN AND IMITATION DIAMOND DEALERS LOCK ANTLERS, PROVING ONCE AGAIN THAT WORDS STILL MATTER

“Whether you choose a lab-grown diamond or a lab-grown stone …, you can be sure that our jewelry is kind to your bank and even kinder to our planet, says the tagline on the homepage of a British online jewelry retailer, the Cornwall-based Ethica Diamonds, which just become the subject of an official complaint by United Kingdom’s advertising watchdog organization, the Advertising Standards Authority (AS).

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NAMIBIAN MINES
SAVED ALMOST AT THE LAST MINUTE, DEAL WITH GOVERNMENT GRANTS NAMIBIAN MINES ANOTHER 20 YEARS OF LIFE

Some had believed that the end of Namibia’s long diamond history was in sight, but to paraphrase Mark Twain reports of its death were somewhat exaggerated. After lengthy negotiations the Namdeb Diamond Corporation, the equally-held joint venture between the De Beers Group and the government of Namibia it was announced that a new long-term business plan had been approved, which the company says will extend the current life-of-mine of its land-based operations by as much as two more decades, through to 2042.

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diamonds
WITH TWO STANDARDS PUBLISHED AND A THIRD IN THE WORKS, DIAMONDS TO BECOME FIRST GEMSTONE CATEGORY COVERED BY ISO

The COVID pandemic of the past year and a half has provided the public some insight as to how carefully the drug and pharmaceutical industry is regulated. With national authorities strictly monitoring how both vaccines and therapies are administered, even during times of crisis developers are required to traverse a labyrinth of obstacles before their product can be offered to patients. There is no central authority, but much of the world takes its lead from the vaunted Food and Drug Administration (FDA) in the United States, and only under exceptional circumstances is prepared to take an independent stand.

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A woman with shopping bags
HEADING INTO THE FALL TOWARDS THE HOLIDAY SEASON, U.S. DIAMOND MARKET REMAINS OPTIMISTIC

How much a difference a year makes. While at this time in 2020, with the second wave of the coronavirus crashing down in parts of the world, members of the diamond industry looked toward the final quarter of the year with a sense of nervousness and trepidation. While the greatly feared collapse of the market, along with the world economy, had not happened, there still was no certainty that consumers would have an appetite for diamonds during the all-important holiday season.

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AUCTION OF THREE-STRAND DIAMOND BRACELETS REVIVES THE MEMORY OF QUEEN MARIE-ANTOINETTE

Marie-Antoinette, the Austrian archduchess who became a dauphine of France in May 1770 when she married Louis-Auguste, heir apparent to the French throne, and later the French Queen, until the French Revolution, and ultimately her execution at age 37 by guillotine on October 16, 1793, continues to enjoy celebrity status akin to the late Princess Diana and the current Duchess of Sussex, Meghan Markle. A Magnificent Jewels sale sale at Christie’s in Geneva I,on November 9, 2021,s depending on her notoriety to ensure its success.

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EXPANDING THE DIAMOND’S RESPONSIBLE BUSINESS PARADIGM: DO NOT HARM, BUT MAKE THE WORLD A BETTER PLACE AS WELL

Generation Z consumers, it is widely believed, are more inclined to demand that the products they buy have social, as well as economic value. This, the market analysts say, is especially relevant where it comes to luxury products, which are generally non-essential and often are purchased to express an emotion, like love, or to enhance ones prestige or feeling of self-appreciation.

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