Vol. 49 No.1 INDIA 300

DiamonD on the Sky Industry revelling in diamonds’ performance

Midstream divided on escalating polished prices

Take trend cues from 2021’s defining pop culture moments +JJS 2021, Harwell Godfrey, Cartier’s latest & more

FOunDER: Late Vidya Vinod Kala

Vol. 49 No.1 INDIA 300

Alok Kala Editor and Publisher Arpit Kala Associate Publisher Vijetha Rangabashyam Senior Editor Suneeta Kaul Feature Editor

DiamonD on the Sky Industry revelling in diamonds’ performance

Midstream divided on escalating polished prices

Take trend cues from 2021’s defining pop culture moments , +JJS 2021, Harwell Godfrey Cartier’s latest & more

Gunjan Jain Business & Marketing Dhananjay Kokate Graphic Designer Subscription: India: Annual: Rs. 1500.00 Single Copy: Rs. 300.00

Vol. 49 # 1 • November-December 2021

Overseas: Annual Airmail: US$ 150.00 Administrative & Editorial Office : ‘Journal House’, A-95, Janta Colony, Jaipur-302 004 (India) Ph.: (91-141) 2614398, 2610906, 2602900 E-mail: [email protected] Website: http://www.diamondworld.net Mumbai Office : Unit No 19, Ground floor, Vasan Udyog Bhavan, opposite Phoenix Mills, Sun Mills Compound, Lower Parel (West), Mumbai - 400013 Phone- (022) 26756055/66 E-mail : [email protected]

36 | Cover Story Owner : International Journal House Publisher and Printer: Alok Kala Printed at : Thomson Press India Ltd. Faridabad Published from : Journal House, A-95, Janta Colony, Jaipur

INDUSTRY ON A ROLLERCOASTER RIDE Diamond industry decoded: From supply to price to demand, everything you need to know With decreasing supply and increasing demand, diamond prices, particularly the roughs, are exhibiting an upward trajectory, impacting all stakeholders of the industry, including the end customer, discovers Suneeta Kaul

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HEADLINES OF 2021 A year of many firsts – Trendsetters of 2021

68 68 DeSIGN STUDIo |

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SIXIEME SENS CARTIER Bliss for the senses

LAUREN HARWELL GODFREY Only good vibes

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66 66 | TRaDe FaIR

JAIPUR JEWELLERY SHOW JJS dazzles the industry with big turnout!

JEWELLERY TRENDS FROM POP CULTURE 2021’s iconic pop culture moments

74 | The Rock Talk

Amethysts, diamond bar necklaces and sleek diamond-studded bracelets

editorial

Bye, Bye, 2021, hello 2022!

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s the year draws to a close, we reflect on the important developments of 2021. It has been an eventful year, with plenty of action and drama. However, if one were to choose the single most relevant development, it would be the supply-

price-demand mismatch. Production of roughs dropped considerably, miners faced COVID-related problems, supply was interrupted, while demand soared. This peculiar situation was bound to pose challenges, and the industry has no choice but to grapple with the problems. The silver lining is that demand is high in all major consumer markets – US, India and China. We take an in-depth look at the demand-supply angle in this issue. Besides, we also examine the trends that 2021 exhibited in terms of what was hot and what kind of diamond jewellery was flaunted by celebrities. We also recap the important milestones of the year gone by. Looking ahead, the diamond industry seems all set for a bright, shiny future. Regardless of the on-going problems of supply shortage and rising rough and polished prices, the end consumer’s appetite for the shiny stones remains as strong as ever. In fact, demand is growing everywhere. This augurs well for the industry, and we hope for a bright year ahead. Editor Alok Kala

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Rough & Mining

Rough prices increase by 10 per cent due to new Covid variant

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iamond exporters in Mumbai and Surat are already in a fix due to acute shortage of goods, which is resulting to be detrimental to their business considering they have a surplus of orders to fulfil. The holiday season has boosted demand from US, China and Europe but supply crunch has left diamond exporters in a fix. Add to this an increase in rough pricing by 10 per cent because of the new Covid variant has really made the situation more difficult. As a result, exporters are holding back on their stock, because they don't want to replenish their current

stock with new inventory, which they might have to buy at a premium. An extended Diwali break was proffered as a solution to keep the supply-demand balance in check, however, diamond rough prices have continued to go up, while polished prices have remained the same. The consequences of the Omnicron on mining in the South African countries, where most diamond mines operate are yet to be clear. If mines shut down, then it will have a great impact on the trade, which is currently basking in robust demand.

First female President appointed for Diavik Diamond mine

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io Tinto has appointed Angela Bigg president and chief operating officer of the Diavik Diamond Mine. Angela, previously general manager, Operations at Diavik, will be the first female to lead the mine and its 1,100 employees. Angela joined the Diavik team in November of 2017 as vice president, Finance. She began her career with Rio Tinto in 2005 and has worked in Mozambique, South Africa and Australia, where she is from. She succeeds Richard Storrie, who has decided to leave the company to pursue other opportunities.

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Rough & Mining

Kunming Diamond buys Argyle's once in a Blue Moon Tender collection comprising 41 lots

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unming Diamonds’ history making global bid for the 24.88 carats of final “beyond rare” blue jewels from the East Kimberley region of Western Australia is a significant moment in the history of the Argyle mine and the coloured diamond industry. Harsh Maheshwari, Executive Director of Kunming Diamonds said "We are delighted to be part of Argyle's legacy in this historical moment, acquiring the Once in a Blue Moon collection. We cherish

diamonds in a beautiful array of shades and with the closure of Argyle it is extremely unlikely that there will ever be another collective offering of iconic gems in this colour spectrum from a single mine,'' Sinead Kaufman, Chief Executive of Rio Tinto Minerals said ''The rarity and beauty of becoming the custodians of the final Australian treasures from this iconic the Once in a Blue Moon diamonds and industry-defining mine, and look speaks volumes. They are highly forward to unearthing the incredible coveted, the ultimate limited edition and we congratulate Kunming possibilities in the years to come." The Argyle mine sporadically Diamonds on their global bid.” produced small blue and violet

ALROSA reports rough and polished diamonds in November worth $334 mn

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LROSA sales of rough and polished diamonds in November totaled $334 million, including proceeds from rough diamond sales of $310 million, and polished diamond sales of $24 million. For eleven months of 2021, total rough and polished diamond sales accounted for $3,915 million, including $3,736 million of rough diamond sales and $179 million of polished. “End demand for diamond jewelry in the key markets keeps growing at a double-digit rate in

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Q4 driven by the unleashing of pent-up spending and higher confidence among the main consumer groups. Market players see increased demand for wedding jewelry and expect this trend to continue unabated in 2022. Midstream inventories are currently at low levels due to the limited availability of raw materials supplied by mining companies and continuously strong consumer demand,” said EvgenyAgureev, Deputy CEO of ALROSA.

Rough & Mining indian government mandates self-regulation for importexport of rough diamonds

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n line with the current government’s focus on “minimum Government and maximum governance,” by easing the procedures of doing business in India, the Govt. of India has mandated membership of The Gem & Jewellery Export Promotion Council (GJEPC) for getting the Kimberley Process Certificate for import and export of rough diamonds into India. This effectively means that GJEPC, the apex body of gem & jewellery trade and promotion of exports in India will regulate its members in terms of complying with the Kimberley Process certification norms. This aligns with the recent liberalization of Govt. policies in way of making self-declaration by trade as compliance instead of vetting by Govt. departments. The Directorate General of Foreign Trade (DGFT), Govt. of India through a notification no. 43 /2015-2020 dated 22nd November, 2021 has announced that import or export of rough diamonds will be permitted only to members registered with the Gem & Jewellery Export Promotion Council (GJEPC) , which is the designated importing and exporting authority of India for the Kimberley Process Certification Scheme (KPCS). Through this notification, the Central Government has revised the policy conditions governing import and export of rough diamonds falling under chapter-71 of Schedule (I) of ITC(HS) 2017 and Schedule (II) of ITC(HS) 2018.

Round & About

Rough & Mining

Rio Tinto becomes sole owner of Diavik Diamond Mine

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transaction has been completed for Rio Tinto’s acquisition of the 40 per cent share held by Dominion Diamond Mines in Diavik, following the Court of Queen’s Bench of Alberta’s approval. With production at Diavik expected to end in 2025, its high-end, predominantly white gem quality diamonds with Canadian provenance continue to be in strong demand in all established and emerging consumer markets.

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Creditors Arrangement Act. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash collateral held as security for Diavik’s future closure costs. In The transaction comes after a return, Rio Tinto has 19-month process triggered in April released Dominion and its lenders 2020 by Dominion Diamond Mines from all outstanding liabilities and ULC filing for insolvency protection obligations to fund the operations or under the Canadian Companies’ closure of the joint venture.

De Beers reports $332 million in sales

e Beers reported sales of $332 million for the 10th and final sales cycle of 2021 compared with sales of $438 million for the preceding 9th cycle and $452 million in the 10th cycle of 2020. Bruce Cleaver, CEO, De Beers Group, said: “Rough diamond demand and midstream sentiment continued to be positive in the final sales cycle of 2021, although as anticipated we saw some impact on

ongoing challenges of Covid-19, our rough diamond sales for the year are higher than what we saw in 2019 before the onset of the pandemic, and much higher than our sales in 2020. Consumer demand for diamond jewellery is continuing to perform very well over the key holiday period, so we head towards the new year sales ahead of the seasonal closure with positive trading conditions of polishing factories in southern and industry sentiment.” Africa over the Christmas period. “Nonetheless, despite the

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Polished diamonds

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a pair of blue diamond earrings sold for $7 million at Christie's hong Kong

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he autumn sale has pushed the annual auction total for the category in Asia to HK$1.15 billion/ U 148 million, affirming Christie’s continued market leadership in the region in offering the finest jewellery and gemstones at auction.A noteworthy lot of the sale was lot 1974 - a set of Jadeite, Ruby and Diamond Necklace and Bracelet by Cartier, which sparked a 10-minute competition between two determined

bidders on the phone, and eventually sold for HK$8,050,000/ US$1,037,275, 8 times the pre-sale low estimate of HK$1,000,000/ US$128,866. Vickie Sek, Chairman, Department of Jewellery, Christie’s Asia Pacific, commented, “We are very thankful to wrap up this year with a remarkable total of HK$1.15 billion/ US$148 million in auction sales. The exceptional results and solid sell-through rates across our

live and online-only sales in 2021 reflect a rapidly reviving market with robust demand, that began with our record-breaking sale of ‘The Sakura’ pink diamond this Spring which sold for HK$226 million/ US$29 million, and continued tonight with a pair of Fancy Vivid Blue Diamond Earrings of 3.06 and 2.61 Carats which achieved HK$58 million/ US$7.5 million. We look forward to continued momentum at our upcoming Magnificent Jewels auction in New York on 8 December.”

Gem Report Antwerp is a Gemological Laboratory based in the heart of the Diamond District in Antwerp. Our Certificates are known worldwide.

Gem Report Antwerp,

Hoveniersstraat 35-2018 Antwerp | November-December 2021 | 21 DiamonD WorlD Tel : +32 3 2315163 | Website: www.gemreportantwerp.com

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Polished diamonds

sRK empire is now the World’s number 1 Green Building

he building has successfully achieved the score of 95/100 points. The score has been calculated against various parameters as Monthly Average Arc Performance Score. The score was computed on a continuous and real-time basis, and the average of Energy Consumption, Water Consumption, Waste Management System, Transportation System, and Human Experience index. This milestone comes close on the heels of the October 2021 announcement when SRK Empire was listed amongst world’s Top 6

green buildings. Since then, the crafting facility was consistently ranked amongst Top 5 green buildings. “Sustainably crafting diamonds has always been our motto, and we ensure to cause minimum environment impact through our operations. We can proudly claim that all our diamonds are crafted only in our environment-friendly green buildings. Reaching milestones like ranking on Arc leaders and performers platform is a testament to our promise for a sustainable tomorrow,” said Arjanbhai Dholakia, EntrepreneurAdministration.

Diacore buys 3ct 2.32 pink diamond for USD 13.8 million

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iacore, specialist in the design and craftsmanship of rare coloured diamonds, has added this incredible gem to its portfolio of exceptional diamonds. The rare pink diamond will be analysed, designed and cut by the company's highly experienced team to unlock its magnificent

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hidden beauty. Nir Livnat, Chairman of Diacore, commented, "This rare masterpiece of nature is a natural fit to our unique offering as cutters and marketeers of special diamonds. Looking forward to work with the team on a stellar one-of-a-kind gem."

Lab & TechnoLogy

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Instappraise announces new diamond grading certificate database integration with gcaL

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ast-growing technology startup Instappraise -- developer of the innovative and easy-touse jewelry appraisal creation and management solution -- is pleased to announce a new partnership with GCAL (Gem Certification & Assurance Lab). Thanks to this latest collaboration, the platform now seamlessly integrates with GCAL's Diamond Grading Certificate Database.Jewelry professionals who work with GCAL already know the organization for its well-regarded reputation within the appraisal and retail jewelry space. As part of its comprehensive roster of services,

GCAL issues diamond Grading Certificates, guaranteeing its 4C’s grading in writing.Instappraise aligns with GCAL's values of uncompromising integrity and unparalleled customer care. Now, the power of GCAL's Diamond Grading Certificate Database is directly integrated into the jewelry appraisal creation process, allowing the user to search for any GCAL Certificate number and immediately gain access to all pertinent information from

GCAL's proprietary database. Best of all, Instappraise makes this step a seamless part of the appraisal creation workflow through automation. With this powerful new integration, jewelry professionals can confirm that an item matches the information from its GCAL Certificate and then easily add that information to the appraisal. This solution minimizes clicks and greatly reduces the amount of data entry required on the appraisal document.

VDB launches VDB Online auction house

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irtual Diamond Boutique (VDB), the jewelry industry’s leading technology partner and largest virtual marketplace, announces the launch of its all-new app for B2B industry auctions entitled theVDB Online Auction House.To launch the new app, VDB will host the first-ever lab grown diamond directauction, with no middleman, as part of a series of inaugural auctions with lab grown supplier Mercury Ring (a division of Unique Designs Inc. and a member of The Plumb Club).The first grouping of

1,000 high-end, loose, 1 carat and higher, IGI certified, lab grown diamonds, as well as lab grown diamond jewelry, will be auctioned from November 8 – 10, 2021 with all final bids dueby 5:00 pm ET on November 10th. The auction promises significant savings for industry buyers and a chance to acquire top quality lab grown diamonds for deeper discounts than normal distribution channels. “VDB is always looking for ways to connect buyers and sellers in a

trustworthy environment, using our cutting-edge technology for ease and efficiency,” says Tanya Nisguretsky, President & CEO of Virtual Diamond Boutique. “VDB previously launched a successful virtual auction app for the Jewelers for Children charity during the pandemic. Now, we have created an independent platform with no middleman that will facilitate relationships, strengthen the supply chain, and create more business for all involved.”

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Lab & TeChnoLoGy

Sarine Celebrates 30th million stone being scanned this year through Galaxy® Systems Worldwide

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ince its release into the market in late 2009, the Sarine’s internal inclusion mapping technology, as embodied in the Galaxy® family of systems, has clearly revolutionised planning and production processes by maximising polished diamond yield, while expediting the manufacturing cycle and reducing human error. Six years passed from the introduction of the Galaxy® technology before reaching the milestone of having cumulatively scanned 10 million stones worldwide and, just two years later, 2017 was the first year in which 10 million stones were scanned in a single year. This year's milestone

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of scanning 30 million stones in a single year is not only significant in itself, but doubly so as an indication of the accelerating adoption of the

was a 35.50ct rough diamond scanned in Dubai by the Choron Group, who just recently joined the rapidly growing group of producers and rough tender houses who use the Galaxy® technology as part of their digital sales and outreach strategy. To date, the largest diamond scanned worldwide on a Galaxy® system was a 286 carat rough stone, the smallest being a mere 0.013 carat in weight (1.3 points!). Kiran Gems leads all other manufacturers with the most rough diamonds scanned paradigm, given that in 2019 and (accumulatively) at their facilities, 2020 only 18 and 19 million stones having processed over 20 million were scanned, respectively. diamonds since they first adopted The 30th millionth stone scanned the Galaxy® technology.

GIA board meets to set priorities; welcomes new governors

he GIA (Gemological Institute of America) Board of Governors held their first in-person meeting in two years, Nov. 5 – 8, in Carlsbad, California. The Board reviewed the Institute’s strategic plans and priorities to ensure GIA will continue to advance its consumer protection mission. Before the Board meeting, the GIA global research team, including several Governors, convened for the Institute’s 15th

annual research meeting to review and discuss the extensive research and discoveries that underpin GIA’s education programs, laboratory services and instrument development, all in support of the Institute’s mission to ensure the public trust in gems and jewelry. The Board welcomed two new Governors – Dave Bindra, vice president of operations and head of

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acquisitions at B&B Fine Gems, and Marcus terHaar, an experienced diamond industry executive. Lisa Locklear, senior vice president and chief financial officer at Avanir Pharmaceuticals, was named Chair-Elect, succeeding Dione D. Kenyon, previous president and CEO of The Jewelers Board of Trade. The board also bid farewell to Governor Amit Dhamani, CEO and managing director of Dhamani Jewels Group, who completed his nine-year term.

Lab & TechnoLogy

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opsydia collaborates with emerald supplier Myne London

eading gemstone security specialist, Opsydia, has collaborated withethical and sustainable emerald supplier, Myne London, to permanently place its brand logo beneath the surface of its traceable emerald melee supply from Pakistan. The Opsydia team worked with Myne London Founders Fiona Wellington and Kate Murray Gordos, and their in-house gemmologist Charles EvansBsc (Hons) FGA DGA, to create a procedure for placing the business’ unique ‘M’ logo beneath the surface of its emeralds, which are ethically sourced from the

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Round & About

Swat Valley, Pakistan. The presence Charles Evans, says: “Myne London of this brand logo represents the has invested heavily in securing authenticity of each emerald, the Swat Valley emeralds that meet their strict ethical trade criteria. Being a fresh, young business that specialises in melee sizes, Myne London has chosen to be innovative and partner with Opsydia. Its recent strides in placing identifiers beneath the surface of melee diamonds inspired us to pursue the same traceable journey it has taken from treatment for Myne London melee Pakistan, and the wider efforts that emeralds (under 2mm). Anyone Myne London undertakes to support who is serious about authenticating local women and their access to coloured gemstones and reassuring skills, education and training. their customers can do the same.” Myne London Gemmologist,

SSEF adds free online gemstone courses in Japanese & traditional Chinese

wiss Gemmological Institute SSEF has added courses in Japanese and traditional Chinese to its free-of-charge online educational programme, entitled “Understanding Gemstones.” The courses, which cover diamonds, emeralds, pearls, rubies and sapphires, are now available in five languages – English, French, simplified Chinese, traditional Chinese and Japanese. The free online Understanding Gemstones programme was first launched by SSEF in April 2021.

To date, there have been more than 6,000 sign-ups and active students participating on the teaching platform. Indeed, it was in response to greater demand for such gemmological education and knowledge in Asia that SSEF has decided to roll out courses in two additional languages. “We are impressed at the demand and positive feedback we are receiving for our free online

courses,” said Dr. Michael S. Krzemnicki, director of SSEF. “Making gem-learning resources available at no cost to the trade and consumers remains a priority for us. We are pleased to be able to make them even more widely available, and to further connect with the gem and jewellery community in Asia.”

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Round & About

Lab & TechnoLogy gSI becomes first gemological Laboratory to join The Plumb club

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gSI is thrilled to become a member of The Plumb Club," says Debbie Azar, President and Co-Founder of GSI. “We are honored to join thisprestigiousorganizationthat is recognized for its leadershipand positive impact on the diamond and jewelry industry.”Since its inception in 1983, The Plumb Club has been an organization of responsible jewelry and watch suppliers committed to ethics and to observing the highest standards of business and personal

conduct. All members annually sign The Plumb Club Code of Responsibility and seek to enhance retailer and consumer confidence in the club and its members. Recently, the board decided to allow respectable and fully vetted service suppliers to join the organization. "The Plumb Club is thrilled to welcome GSI to our membership roster,” said Lawrence Hess, executive director of The Plumb Club. “With our Board’s recent decision to open membership to service providers, GSI will become the very first gem

lab to join our membership.” GSI is a globally renowned gemological organization that offers a myriad of services to the diamond and jewelry industry including gradingreports and services for diamonds (both natural and labgrown), colored gemstones, and jewelry. GSI is the leader in the testing and detection of undisclosed labgrown diamonds in finished jewelry. The company also offers a variety of educational programs to the trade and has a dedicated internationally recognized team of researchers, scientists, and professionals committed to advancing gemological research in the industry.

GIA grades the most important diamonds in the world – including yours

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he joy diamonds bring to people’s lives and the confidence inspired by a diamond grading report from the experts at GIA (Gemological Institute of America) are at the center of GIA’s first new global consumer marketing campaign in more than a decade. The Institute, which pioneered mission-driven consumer marketing about diamond quality, launched a

new multi-media effort that focuses on the special moments diamonds represent in people’s lives and the deep knowledge that goes into every GIA grading report. “This exciting new campaign marks a significant evolution in how every GIA grading report demonstrates our dedication to protecting consumers,” said GIA President and CEO Susan Jacques. “GIA brings the same

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passion and independent, researchbased diamond grading expertise to every gem, whether it is the worldfamous Hope Diamond or the special diamonds which people choose to celebrate the most important events in their lives.”Featuring 12 diverse couples and seven self-purchasers, the global campaign will run in both consumer and trade channels. The campaign is designed to reach consumers early in their diamond purchase journey with a highlytargeted multi-channel rollout.

Round & About

AssociAtion & trAde Bodies Antwerp welcomes drc minister of mines

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he delegation was welcomed first by the AWDC leadership, before embarking on an extensive tour of the district. The minister and her entourage witnessed the import and export procedures at the pinnacle of the world’s largest trade hub, the Diamond Office, visited the HRD Antwerp grading lab and received an extensive tour behind the scenes of HB Antwerp. During a meet and greet with several stakeholders active in the DRC, AWDC renewed its Memorandum of Understanding with the CEEC, the Centre for Expertise and Evaluation of Precious Minerals

of the DRC. “After the visit of DRC President, Felix Tshisekedi, in 2019, direct imports of DRC rough in Antwerp jumped from 27% of DRC’s total exported volume in

2019, to 51,5% in 2020. Renewing this MoU will allow us to continue this collaboration, including capacity building in the DRC, and facilitating sales of the country’s rough diamonds via Antwerp”, AWDC President Chaim Pluczenik

commented, during a closing dinner attended by Antwerp Governor, Mrs Cathy Berx and Alderman for diamonds, Peter Wouters. A second MoU, concluded between the AWDC, the CEEC and SAEMAPE, the governmental institute charged with streamlining the DRC’s Artisanal and Small-scale Mining operations (ASM), outlines the fundamentals of a “mine-to-market” pilot program, to set up a blueprint for a digitally enabled, fully transparent value chain for smallscale and artisanal, responsibly mined diamonds, to be developed over the course of the next years in the DRC.

WDC President urges industry to expand definition of conflict diamonds

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sscher noted that the The five-day KP Plenary Plenary was taking meeting began today as place at a time a hybrid event, with inwhen young consumers are person meetings taking increasingly expressing their place in Moscow, joined in demands for assurance about videoconference by delegates the social and environmental from around the world. The credentials of the products meeting is being hosted by the consumers’ expectations. But they buy, and highlighted Government of the Russian that the diamond industry has Kimberley Process members must Federation, which currently is the the ability to deliver on these act to expand the definition. KP Chair.

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ASSoCiAtion & tRAdE BodiES

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Piyush Goyal lays foundation stone for Mega CFC at SEEPZ

nion Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles Piyush Goyal laid the foundation stone for a Mega Common Facility Centre at Santacruz Electronic Export Processing Zone Special Economic Zone (SEEPZ) on Saturday in the presence of Colin Shah, Chairman, GJEPC, and Shyam Jagannathan, Zonal Development Commissioner SEEPZ, SEZ, along with others. The stone laying ceremony marked the onset of the Mega CFC, Mumbai Project which is a dream project worth Rs. 70 crore, and which will be an epicentre of skill training and an important business facilitation centre situated in the heart of the

country’s significant manufacturing centre for gems and jewellery. Commenting on this occasion Goyal said, “I have rarely seen a faster execution of any project like the Mega CFC. Today’s stone laying ceremony should culminate in the inauguration of Mega CFC on 1st

May 2023, which is an important date – Labour Day, Maharashtra Day and the 50th anniversary of SEEPZ. However, do not compromise on quality and purchase the best equipment. The CFC building should be an iconic design. We need to have much bigger ambitions.”

The Indian Diamond & Colorstone Association appoints Rajeev Pandya as president

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ajeev Pandya is a partner at Ashi Diamonds and the former vice-president of the group. He was voted in as president of IDCA at the New York election on December 2. Members chose Shailesh Jhalani of Prompt Gem Importers as vice-president. The board’s executive committee will also include Rutali Gandhi of Sagar Star Corp. as secretary SaileshLakhi of Sparkles and and Aniket Parikh from Terra Colors USA will be treasurer. Cor Diamonds as joint secretary.

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IDCA members also reelected the following directors: Navneet Chordia of Galaxy USA; Kailash Rawat of Rawat Gems; Vibhor Saraf of Trillion Emerald; Anshal Shah of Suraj Impex; Vipul Shah of Glory Gems.The following people were newly elected as directors: Manoj Bhandari of RMC Gems; Vinit Jobanputra of Sanghvi Diamonds; Nimish Mehta of Atit Diamond Corp.

Round & About

AssociAtion & trAde Bodies AWdc and ALrosA renew cooperation agreement

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he objective of this new cooperation agreement is to improve the scope and efficiency of the ties between ALROSA and AWDC, and to commit to supporting the diamond industry across a broad spectrum of topics, from the open exchange of information to the promotion of joint marketing initiatives. It also seals mutual commitment to protect the integrity and transparency of the diamond value chain by supporting the work of the World Diamond Council and the Kimberley Process and reaffirms the efforts to improve consumer confidence in diamonds

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as a product. Furthermore, both AWDC and ALROSA emphasize the importance of diamond tracing on the international markets and of joint contribution to the sustainability agenda within a wider context of the UN SDGs. The new cooperation agreement was signed

by Sergey Ivanov, CEO of ALROSA, and Ari Epstein, CEO of AWDC. “AWDC is committed to ensure Antwerp remains the world’s leading diamond trade center, and to defend the interests of the more than 1,600 companies it represents”, said AWDC CEO Ari Epstein. “The Russian Federation is the largest producer of rough diamonds worldwide and ALROSA the world’s leading diamond mining company. 86% of all rough diamonds mined worldwide are traded in Antwerp, making the city the most important gateway to the world for Russian diamonds.”

IDI launches Rock en’ Roll campaign

he Israel Diamond Institute (IDI) is launching a campaign today that offers discounts of up to $200 to buyers of Israeli diamonds from qualified sellers. Titled Rock en’Roll, the campaign is intended to boost the already robust Israeli diamond sales during the holiday period. The program offers buyers up to $100 towards the shipping cost of a diamond purchase of $5,000, and an additional $100 towards the actual cost of the second diamond purchase. No minimum is required on the second buy, which may be from the same or from a different qualified Israeli

seller. All licensed Israeli diamond sellers and all diamond shipping companies from Israel are participating in the program. The

seeking creative ways to support the members of the Israeli Diamond Industry, especially the smaller and medium sized companies. We believe that the discount program will provide real incentives for diamond buyers and real benefits for Israeli diamantaires.”IDI Chairman Arnon Juwal said, “Diamond sales from Israel during the runup to the holiday season have discounts can be used multiple been extremely robust. We are times. The campaign will run launching the Rock en’Roll until the end of December or until campaign to offer yet an additional supplies last. boost to holiday sales and we look IDI Managing Director Aviel forward to excellent results this Elia said, “IDI is continually season.”.

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Retail & ecommeRce

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De Beers unveils new london flagship store with sustainability at its core

he new design pays tribute to the values of De Beers by offering a welcoming and inclusive atmosphere that blends open space with intimate areas, and features contemporary visuals that convey how the diamonds we discover create a lasting positive impact for the people and places where they are found. The transparent store front and open window displays are an open invitation to enter the Home of Diamonds and discover the latest high and fine jewellery collections featuring some of the most beautiful diamonds in the world. De Beers first opened a store on Old Bond Street in 2002, reflecting the sophistication and creativity

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synonymous with the city. The new flagship is located at 45 – 50 Old Bond Street, next to the previous location, and its redesign has been inspired by Building Forever, De

putting it in the unique position of being involved in the discovery of diamonds through to the creation of exquisite pieces of jewellery. Set over two floors, the 250 square meter store captures the different facets of De Beers’ rich heritage and showcases in a contemporary setting its iconic designs – from intricate high jewellery pieces featuring some of the world’s most exceptional diamonds, to diamond engagement rings and timeless signature fine jewellery collections, including Beers’ commitment to create a Enchanted Lotus and Talisman, positive long-term impact that will which pioneered blending rough endure well beyond the discovery and polished diamonds. of its last diamond. De Beers has a direct connection to nature,

De Beers Forevermark launches its first exclusive diamond boutique in Mumbai

e Beers Forevermark, graced the opening. the diamond brand De Beers from the De Beers Forevermark holds the Group, launched its very first promise of transparency, exclusive diamond boutique in trust and a high level Mumbai (Bandra) with trusted of confidence with retail partner Om Jewellers, responsibly sourced, that will exclusively retail the natural diamonds. The brand’s diamonds collection. brand provides the This marks the opening of the world’s most carefully 13th De Beers Forevermark selected diamonds, Boutique in the country. India’s legendary each with its unique inscription number to guarantee sportswoman Sania Mirza, who has proved her the most beautiful, rare and responsibly sourced dedicated commitment towards tennis for decades, diamonds.

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Retail & ecommeRce

Pandora tests new store concept in italy and UK

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andora opened doors to its first stores under the new store concept Evoke in Milan, Italy and London, UK. The new concept, which is still in its test phase, aims to make shopping more intuitive and will improve speed of service, enabling customers to easily explore, find and try on products. From the moment customers enter the store, the simplified layout allows them to navigate through different product categories and view the jewelry in newly designed displays.

Two-thirds of Pandora’s revenue “Pandora is built on the concept comes from gifting, and the new of personalization and the idea stores will have a dedicated ‘gifting that you can tell your story through zone’ with inspirational displays. your jewelry. We now want to bring personalization to all customer touch points and create a unique shopping experience. Evoke is one of the key components of our personalization journey, and we have received very positive initial reactions from our customers. We look forward to seeing our customers as they explore the new store concept As a further way to personalize the together with us” says Martino jewelry, the stores will also offer Pessina, Chief Commercial Officer, engraving service to customers. Pandora.

Âme boutique interior declared best in the world in 2021

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he New York boutique of Âme Jewelry was Architects and Âme creative director Elinor Avni. awarded the World Special Prize for the best The Âme New York flagship store showcases interior in the Shops & Stores category by its exquisite collection of lab-grown diamond Prix Versailles 2021. The organization’s secretariat jewelry pieces. It takes customers through rolled announced the winners of stainless steel curtained walls this year’s World Prizes on and suspended vertical rods. December 15.Located on The Âme boutique concept is 132 Spring St. in the trendy the consolidation of the past, Soho neighborhood, the Âme present, and future, merging boutique interior results from the historic architecture of New the collaboration between York City with a cutting-edge Baranowitz + Kronenberg contemporary design.

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Round & About

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Christie's achieves USD 205 million in watch sales in 2021

hristie’s Watches concludes an exceptional year. The resilience shown has been remarkable, while the appetite for the rare, exceptional and desirable timepieces continues to grow and propel a market that Christie’s is uniquely positioned to serve. Of the 6’402 registrants from 88 countries in 2021, more than 20% were new buyers/bidders. “The Christie’s Watches dashboard as we close 2021 shows a solid progression on pre-Covid levels. Who knows how we will look back at this year, but one thing is certain: Our ability to meet its many challenges and continue to achieve

strong results, even set new records, comes down to our focus on making Christie’s synonymous with the most exciting and rewarding auction

come true is the one true measure for success for all of us at Christie’s,” said François Curiel, Chairman of Christie’s Europe & Asia, and Chairman of the Luxury Division. “It explains how our network of Watch Specialists consistently attracts spectacular lots and achieves the highest prices, and how we as a team contribute to a positive dynamic through innovation and agility. It is at the core of our ability to shift gears between live and online – and deliver an exceptional 360-degree experience on parallel tracks. This is also true for Asia and the Middleexperience for buyers and sellers. East where we are maintaining Both have dreams, and making them strong growth momentum.”

Reena Ahluwalia launches Diamond Art NFTS

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iamond artist and jewelry designer, Reena Ahluwalia announced her first-ever Diamond Art NFTs on OpenSea Marketplace. Reena’s ‘DIAMOND-VERSE’ NFTsare ultra-rare Edition 1/1, along with limited Editions,10/10. Reena's NFTs extend her widely known diamond paintings into a 3D digital realm, expanding her distinct vision and imagination as an immersive luxury experience. “I have been working very hard on creating my Diamond Art NFTs since the past year,” says Reena. “The NFT digital revolution has exploded, it’s like an artistic renaissance on a scale we have never seen before.” If you’ve been looking to dive into and expand your NFT portfolio with Diamonds, Reena Ahluwaliahas

just the thing – her breakthrough NFT digital artworks. Non-fungible tokens, or NFTs transform digital works of art and other collectibles into unique, one-of-a-kind, verifiable assets that exist on blockchain. NFTs are usually bought with cryptocurrencies (like Ethereum) and the blockchain keeps a record of transactions.The blockchain serves as a public ledger, allowing anyone to verify the NFT’s. While anyone can view the NFT, only the buyer has the status of being the official owner – a kind of digital bragging rights. Joining Reena’s Diamond Art NFTs initiative is Erik A. Jens, a widely regarded diamond industry expert, founder of LuxuryFintech and former head of ABN Amro’s diamond and jewelry client division. DiamonD WorlD | November-December 2021 | 33

THE JOURNEY OF WINNING 510 MILLION HEARTS IN INDIA A product of our passion, the Natural Diamond Council (NDC) was established as a medium to dive deeper into the world of natural diamonds. From educating our consumers about the world’s most famous natural diamonds to becoming the destination for diamond trends and styles, we have come a long way in the span of a year. And our retail partners and collaborators provided us the light of support to make this journey memorable.

Spectacular Moments of 2021: The year started on a monumental note for us, as we put a spotlight on 2021’s diamond trends at the Lakmé Fashion Week with our first ever Trend Report. Our style collective featuring editors, stylists, designers, celebrities, and industry insiders, added extra spark to the report with their precious insights.

When August came by, we presented to the world the first-of-its-kind virtual diamond festival in collaboration with Vogue India. Experts, industry insiders, and connoisseurs united to revel in the brilliant knowledge of real diamonds.

Our love for diamonds did not just stop there. We featured our global ambassador, the Bond Girl, Ana de Armas in a campaign that celebrated the joy of reconnecting with loved ones and living each moment to the fullest. She adorned natural diamond jewellery, inspired by the latest trends, and exclusively crafted by EDDI winner and designer Malyia McNaughton. As we set the stage with these one-of-a-kind initiatives, we also took the opportunity to collaborate with ace designers like Sabyasachi Mukherjee, Viren Bhagat, Bibhu Mohapatra, Gaurav Gupta, and Raghavendra Rathore to highlight their inspiring journey with natural diamonds.

COMING UP IN 2022: Our Industry Initiatives An ode to the Diamond Industry The diamond industry is actively working towards making the world a better place with its philanthropic initiatives. So, when you buy a natural diamond, you contribute towards this cause. We launched Thank You, By The Way with the Gem & Jewellery Export Promotion Council, an initiative to celebrate your natural diamond purchases that benefit millions of people around the world.

Quality, ASSURED In order to ensure that the diamonds you purchase are exactly what they claim to be, we launched ASSURE, a certification program to test diamond verification instruments. Through this program, we conduct a third party, unbiased evaluation of diamond testing machines to check their accuracy in differentiating lab-grown diamonds from natural diamonds.

2021 was a glorious year for us. We look forward to making 2022 and the years to come ever more so. All our innovations and initiatives paid off when we saw the immense love and appreciation that you showered on us.

45 Mn Website visits

306+Mn 210 Mn Social impression

Youtube views

For more diamond inspiration visit www.onlynaturaldiamonds.in. For collaborations and to become an NDC Official Partner, write to us at [email protected].

464 Brand Collaborations

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Industry on a rollercoaster ride

Diamond industry decoded: From supply to price to demand, everything you need to know 36 | November-December 2021 | DiamonD WorlD

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With decreasing supply and increasing demand, diamond prices, particularly the roughs, are exhibiting an upward trajectory, impacting all stakeholders of the industry, including the end customer, discovers Suneeta Kaul

Rough diamond production has been impacted by practical issues of working safely in the COVID world and ensuring that we continue to operate safely and responsibly. In addition to this, global supply volumes have been impacted by some mines coming to the end of their operational lives, such as Rio Tinto’s Argyle mine in Australia. Rough supply has also been impacted by natural issues such as high rainfall preventing normal mine operations.” De Beers Group

DiamonD WorlD | November-December 2021 | 37

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“India’s gem and jewellery export performance through 2021 has been far ahead of our expectations this time last year. The good news is that the world’s biggest jewellery consuming nation, the USA, has increased purchases from India this year. We expect to achieve the export target of USD 41.65 billion this fiscal year. And we have recommended to the Government a few policy reforms to consider in the Union Budget 2022-23.” Colin Shah, Chairman, GJEPC

s the year draws to a close, the diamond industry finds itself in a unique situation – high consumer demand, sharp rise in rough prices, steady increase in polished prices, and a marked fall in supply of both roughs and polished stones. Add to this the onslaught of Omicron, the latest COVID variant, and the scenario becomes even more volatile. However, it is not an all-negative mix – there are many opportunities for all stakeholders and the industry as a whole. But the problems are very real, starting with the very pronounced demand-supply mismatch. The pandemic caused huge disruptions in mining operations, resulting in severe supply problems. The curtailed supply, in turn, has led to a sudden increase in rough prices, and an appreciable rise in polished prices as well.

Sharp spurt in rough prices Historical data reveals that prices, particularly of polished stones, have been more or less stagnant for the past 8-10 years, and a rise was always around the corner. But what has upset the apple cart is the sudden sharp

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increase. The industry would have been more comfortable with a gradual upward trajectory, but it now has to face a three-pronged situation – fall in supply, rise in prices, rise in demand. According to a spokesperson of the De Beers Group, “Rough diamond production has been impacted by practical issues of working safely in the COVID world and ensuring that we continue to operate safely and responsibly. In addition to this, global supply volumes have been impacted by some mines coming to the end of their operational lives, such as Rio Tinto’s Argyle mine in Australia. Rough supply has also been impacted by natural

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issues such as high rainfall preventing normal mine operations. “Rough diamond sales have been influenced by positive consumer demand, resulting in positive recovery in downstream demand and pipeline inventory levels, which are lower, following the midstream de-stocking that took place in 2020, when limited amounts of fresh supply were entering the pipeline.” A point to note is that miners have not announced any new mine expansions, and the inventory of rough diamonds held by them is at historical lows. Midstream stocks are also at record low levels. With roughs becoming expensive, manufacturers are holding back their stock because of concerns about the prices they will have to pay for new rough supplies.Retailers are not getting a good margin as the hike in prices is making it difficult for them to re-stock. Everything put together, the fundamentals are supportive of a further upward swing in prices.

Manufacturers adopting wait-and-watch policy The increase in rough prices is making sourcing difficult for manufacturers. Most of them are waiting for clear trends to emerge. Says Sandeep Kothari of KGK Group, “The increase in rough prices is corresponding to polished prices going up. So, there is some speculation going on, where people are paying more on tenders and outside market purchases to gain market share. That is something that will impact profit margins. But in general, if you are buying responsibly, and if you have direct supplies coming in from the miners, then your profit margins are relatively intact. “There is a shortage of all kinds of categories of polished diamonds. The rough supply has been low. In India, production, because of Diwali, has been at a low level. It is a challenge to bridge the requirements of those wanting polished stones, but we are communicating with them on a regular

“While it may seem, at first glance, that the diamond industry is experiencing exponential demand, there is more to the story than appears to be the case. If we compare pre-COVID data with the data available today, and check whether sales numbers are much bigger than before, or actually smaller, we might be surprised. Presently, the industry feels there is good demand, but that could be because of supply constraints. In the preCOVID era, there was a continuous supply of diamonds and jewellers had a lot of stock. Things have changed drastically, manufacturers don’t have stock now, they don’t have supply of diamonds, so even if five customers come in, they feel demand is good.” Dheeraj Menda, Studio Rêves

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“The prices of polished diamonds have remained stagnant for many years. With the consumer demand being at record levels, we can safely conclude that a there is ample scope for an upward price correction.” Dinesh Lakhani, Director, Kiran Gems

basis. It is, indeed, a challenge right now to fulfil all the orders. There is too much happening at the same time, be it the Omicron virus or the supply issues or the manufacturing issues. So, one has to be very, very careful and keep a sharp eye on what someone is booking, and how they will be able to supply the orders eventually.” Commenting on the market situation, Kothari adds, “All shapes and sizes are doing well. This is for the first time in

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the past 10 years we have seen a huge bandwidth of goods that are moving across the entire category. Fancy shapes are doing fantastically well in the US, India has opened up to a very strong season, the North and the South are doing extremely well, the East and the West are also picking up, we are in a very good zone, where everything is doing well. “China is a tricky one, the fundamentals are strong, but it is not as buoyant as US and India, so we are seeing a stable, stagnant growth in China. And pricing is something where all the economies of the world are doing well, the stock markets are doing well, there is an influx of so much of stimulus money, which has created a lot of liquidity in the market. All luxury items are going up.” With the overall industry situation being rather fluid, most manufacturersand processors are wary, and in a wait-and-watch mode. Some of them don’t even believe that the much-

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talked-about high demand is borne out by ground realities. “While it may seem, at first glance, that the diamond industry is experiencing exponential demand, there is more to the story than appears to be the case. If we compare pre-COVID data with the data available today, and check whether sales numbers are much bigger than before, or actually smaller, we might be surprised,” says Dheeraj Menda of Mumbai-based manufacturing house, Studio Rêves. “Presently, the industry feels there is good demand, but that could be because of supply constraints. In the pre-COVID era, there was a continuous supply of diamonds and jewellers had a lot of stock. Things have changed drastically, manufacturers don’t have stock now, they don’t have supply of diamonds, so even if five customers come in, they feel demand is good. “The number of suppliers of diamonds, small manufacturers, processors (who convert roughs into

polished stones), factories -- everything has shrunk. It is really more of an illusion that the diamond market has grown exponentially. In my mind, retail has suffered in a very big way all over the world. Stores were shut for a long time all over the world, and the Internet took over. “But the percentage of Internet sales that happened versus the on-ground sales is really insignificant. Internet sales grew by 4%, but the overall retail sales that got stuck was a much bigger number. What the industry is really experiencing is demand because of shortage, not because of more customers, especially in India,” he adds, painting a rather grim picture. The demand debate notwithstanding, the fact remains that there has been an unprecedented increase in factor costs – rough prices going up and wage inflation also exhibiting an upward curve. This has resulted in a substantial upward shift in the prices of polished goods as well.

“Right now, the rough and polished prices are very strong. There is tremendous demand for both. Even after the opening of factories post the Diwali break, not much production was happening till December. But the demand for polished stones is strong in the US as well as India. So, in the coming few months, price is going to be very strong, and I think it will stay that way. This year, you will see good polished price changes.” Piyush Patel, Partner, Dharmanandan Diamonds Pvt Ltd.

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“Since September, China has become slower than what it was in the first half of 2021. But the retailers there are also very confident that the on-going season and the Chinese New Year will be a good period for sales, and they also see the first-half of 2022 as a good time to do business. India is doing well since July, and we will continue to see the economy improve. Exports have been amazing this year.” Ankit Shah, Director, Ankit Gems

Dinesh Lakhani of Mumbai-based Kiran Gems believes that polished prices are poised to go up further. “The prices of polished diamonds have remained stagnant for many years,” he says, adding, “With the consumer demand being at record levels, we can safely conclude that a there is ample scope for an upward price correction.”

Retailers, exporters agree polished prices will go up further The rough supply having been low for a while has resulted in shortage of all categories of polished diamonds.

Retailers and exporters have been feeling the pinch, and from the look of it, the situation is not going to ease out any time soon. Says Piyush Patel of Dharmanandan Diamonds Pvt Ltd., “Right now, the rough and polished prices are very strong. There is tremendous demand for both. Even after the opening of factories post the Diwali break, not much production was happening till December. But the demand for polished stones is strong in the US as well as India. So, in the coming few months, price is going to be very strong, and I think it will stay that way. This year, you

There has been an increase in rough prices, and that is going to impact profit margins, and it is going to be very hard for diamond manufacturers. But we are very positive about how the market is moving, and we believe that if you are making the right mix, the right cuts, especially the fancy shapes, the consumption pattern is going to be great. Hopefully, the price incremental will be absorbed by the retailers and wholesalers across the globe.” Nilesh Chhabria,COO, Finestar Jewellery and Diamonds

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will see good polished price changes.” While the US and India are leading the demand, countries such as China and Hong Kong are not too far behind. “Since September, China has become slower than what it was in the first half of 2021. But the retailers there are also very confident that the on-going season and the Chinese New Year will be a good period for sales, and they also see the first-half of 2022 as a good time to do business. India is doing well since July, and we will continue to see the economy improve. Exports have been amazing this year,” explains Ankit

Shah of Ankit Gems. “Currently, the markets are doing very well. Polished prices have gone up in the past two to three weeks, post Diwali, and we have seen a rise in demand in the US markets as well. In November, the US had amazing sales, and retailers are stocking up again for Christmas, mainly solitaires. “Overall, prices have gone up a lot in a very short period of time. Polished prices went up steeply in the last threefour weeks in a short period of time. But rough prices have been going up since the last six months. So, considering this, there is still a gap in the rough price and polished price. There are fewer chances of rough prices remaining stable, but polished prices may stay stable. Or they will go up; going down is not going to happen. Until the first half of 2022, we will see either stable polished prices, or rising prices,” he adds. Manufacturers are of the opinion that the hike in rough prices is going

“The increase in rough prices is corresponding to polished prices going up. So, there is some speculation going on, where people are paying more on tenders and outside market purchases to gain market share. That is something that will impact profit margins. But in general, if you are buying responsibly, and if you have direct supplies coming in from the miners, then your profit margins are relatively intact.There is a shortage of all kinds of categories of polished diamonds. The rough supply has been low.” Sandeep Kothari, Group Managing Director, KGK Group

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“Demand is not becoming less, but, in fact, figures from the largest consumer market, the US, indicate that this holiday season is likely to outperform previous years significantly. We believe this trend will continue in the short- to mid-term. Predicting prices in the diamond industry is a dangerous game. It’s often hard to say, and much depends on how production develops and how the economy will grow in a post-pandemic situation. In the near future, we can say that 2022 will be a good year. It’s clear that the prices for rough diamonds today are historically on the high side, it remains to be seen if they stay on that level. On the other hand, production will be decreasing steadily as it has done over the past decade.” Ari epstein, CEO, Antwerp World Diamond Centre

to compress their profit margins. Says Nilesh Chhabria of Finestar Jewellery and Diamonds, “Yes, there has been an increase in rough prices, and that is going to impact profit margins, and it is going to be very hard for diamond manufacturers. But we are very, very positive about how the market is moving, and we believe that if you are making the right mix, the right cuts, especially the fancy shapes, the consumption pattern is going to be great. Hopefully, the price incremental will be absorbed by the retailers and wholesalers across the globe. Thankfully, the Omicron variant has not had much of an impact on the diamond market. Looking at what we have been hearing from South Africa and other places, this is not as detrimental as the previous variants. We feel there is going to be a surge in the business of natural diamonds in the coming few months.” Opines Dhawal Jain of Unialmaz, the Jaipur-based diamond manufacturing,

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retailing and exporting house, “If the current scenario continues, the prices will increase no doubt to a certain limit, and it might impact loose and studded sales. But there is a limit to the extent to which rising prices will be accepted. The situation of polished diamonds we are witnessing at the moment has never been seen before -- a sharp rise in prices might shake the confidence of the consumer, as no one can predict if the increased prices will sustain. Diamond prices have been pretty much stagnant in the last seven to eight years, plus-minus 5%. The increase in price was due, but it should have been steady and over a period of time. Due to the current situation, prices have increased suddenly, which shakes the confidence of both the manufacturer and the consumer. This has made a major impact on ongoing orders for which diamond prices have already been fixed with buyers.” Globally, a beneficial side-effect of

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the pandemic has been that inventory levels have reached a healthy level and are much more aligned with actual demand. Says Ari Epstein, CEO, Antwerp World Diamond Centre (AWDC), “Demand is not becoming less, but, in fact, figures from the largest consumer market, the US, indicate that this holiday season is likely to outperform previous years significantly. We believe this trend will continue in the short- to mid-term. Predicting prices in the diamond industry is a dangerous game. It’s often hard to say,

and much depends on how production develops and how the economy will grow in a post-pandemic situation. In the near future, we can say that 2022 will be a good year. Does that mean that we can expect rising prices for the next decade? We can’t say. It’s clear that the prices for rough diamonds today are historically on the high side, it remains to be seen if they stay on that level. On the other hand, production will be decreasing steadily as it has done over the past decade.” Summing up the India situation, Colin Shah, Chairman, GJEPC says, “India’s gem and jewellery export performance through 2021 has been far ahead of our expectations this time last year. The good news is that the world’s biggest jewellery consuming nation, the USA, has increased purchases from India this year. We expect to achieve the export target of USD 41.65 billion this fiscal year. And we have recommended to the Government a few policy reforms to consider in the Union Budget 2022-23. These include the reduction of import duty on cut & polished diamonds, gold and other precious metals, and an amendment in taxation provisions to allow the sale of rough diamonds in the Special Notified Zones in Mumbai and Surat – this would help the industry to achieve its export target of USD 70 billion in the next few years.” In the end, the picture will be clearer only by the middle of next year. But one may safely conclude that the days of low/stagnant prices are well and truly over. With supply being short, and end-customer demand going up, it is a simple matter of economics.

“If the current scenario continues, the prices will increase no doubt to a certain limit, and it might impact loose and studded sales. But there is a limit to the extent to which rising prices will be accepted. The situation of polished diamonds we are witnessing at the moment has never been seen before -- a sharp rise in prices might shake the confidence of the consumer, as no one can predict if the increased prices will sustain. Diamond prices have been pretty much stagnant in the last seven to eight years, plus-minus 5%. The increase in price was due, but it should have been steady and over a period of time.” Dhawal Jain, Unialmaz

DiamonD WorlD | November-December 2021 | 45

Special Feature

Headlines of 2021

A yeAr of mAny firsts – trendSetterS oF 2021

2021 has been a very memorable year for the diamond industry, with many firsts --Suneeta Kaul takes a look at some of the moments that stood out

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hew, what a year 2021 has been for the diamond industry globally! Just when you thought the pandemic would play spoilsport, and consumer appetite for the world’s favourite stone would ebb, it sprang a surprise. Global statistics reveal that the connect of people with diamonds remains fundamentally unshaken, and demand is stronger than ever.

All three major markets of diamonds, US, India and China, have done exceedingly well. In the US, the world’s largest consumer of polished diamonds, appetite for diamonds has been robust, with data revealing that in 2021, the top imported commodity into the country was diamonds, as against pharmaceuticals in 2020. Demand remained buoyant in India as well,

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and China’s diamond imports have also sustained growth momentum. Overall, the year was marked by many developments and interesting stories that are likely to have a major impact on all aspects of the trade in 2022. We take a look at some of the milestones.

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recOvery Of retaiL sectOr DrOve prices up

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y the middle of 2021, it was clear that sentiment in the global diamond market was pretty upbeat, despite a seasonal slowdown and high rough prices. Additionally, demand for roughs was strong, even as miners depleted inventories. Production volumes fell, while prices were high all around, thanks to robust retail sales and shortages in supply. Data shows that retail demand and polished trading was as good as it used to be before the pandemic struck.

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De Beers anD aLrOsa raiseD rOugh prices

ight in the beginning of 2021, De Beers and Alrosa increased the prices of rough diamonds on the back of improvement in demand resulting from post-holiday restocking and strong trading ahead of the Chinese New Year. De Beers raised prices by an average of 4% to 5% at its first sight of 2021, while

Alrosa went a step ahead, increasing them by around 6% to 7%. The price hikes were sharper in larger categories than smaller ones. It may be recalled that both the miners had made price cuts in the second half of 2020, and then steadily reversed them.

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NDC partNereD with GJepC for a CampaiGN

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he Natural Diamond Council (NDC) partnered with the Gem Jewellery Export Promotion Council (GJEPC) for its global campaign -- ‘Thank You, By the Way’. The campaign reaches out to consumers who, now more than ever before, want to know where their products come from and the impact their purchases have on producing countries and local communities. It thanks consumers and industry alike for being a part of the natural diamond journey by highlighting the ‘do good’ approach adopted by the sector. The omnichannel campaign features a variety of engaging sustainability facts about the natural diamond industry, highlighting both the socioeconomic and community benefits. The series of multiple creative executions will debut across NDC’s social media channels, with a dedicated page on Only Natural Diamonds.

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Luxury braNDs saiD No to burmese rubies

urmese rubies have become something of a ‘phenonmenon’ over the years. Their rich, ‘pigeon blood’ hue has made them sought after amidst jewellers, gemstone connoisseurs and collectors alike. Any jewellery that comes with the Burmese pigeon-blood tag has been associated with luxury and lumpsum sales at auction houses. It is a matter of pride for both luxury brands who are selling them and people who are buying them. Shortly after Global Witness, a non-profit organization, released a report on the Burmese ruby industry, Harry Winston decided to not source Burmese rubies anymore for its collections. The report

stated that ‘there is no such thing as an ethically sourced Burmese ruby. These gemstones are sold as symbols of human connection and affection, yet the supply chain is steeped in corruption and horrific human rights abuses.’ Ethical standards of large pockets of the colour gemstone mining sector are still questionable and the Burmese mining industry is one big example.Given how important it is to sell and market jewellery that has ethically sourced raw materials and the direct impact it has on brands, will other brands follow suit in ostracising the Burmese ruby mining industry? Well, this is a start.

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Israel fostered transparency by lowerIng Industry’s rIsk takIng

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his came in the wake of measures implemented by the industry over the past several years to improve transparency and compliance with international financial guidelines. It is seen as a vote of confidence by the industry.The risk rating, which was published in November in a comprehensive review of Israel’s AML risks, was lowered from 3.7 to 2.7.The

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government’s decision came after many years of hard work on the part of all organizations within the industry – the Israel Diamond Institute (IDI), the Israel Diamond Exchange (IDE) and the Israel Diamond Manufacturers Association (IsDMA) -- to bring the industry up to full transparency and compliance with AML guidelines.

nfts made theIr way Into the hIghend jewellery space

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o celebrate the sale of Chipembele, Gemfields’ largest high-quality emerald to date, the company partnered with Gübelin’s Provenance Proof to raise funds for conservation whilst enhancing transparency and trust in charitable donations through the Proof of Donation initiative. The Gemfields NFT series, called “the Chipembele Crash”, comprises six unique rhinocerosavatars (a “crash” being the collective term for a group of rhinos). Each avatar features the characteristic emerald inclusions photographed inside Chipembele; and each one has been inspired by a real-life rhino at the North Luangwa Conservation Programme (NLCP) in Zambia, even carrying the individual ear-notch of the animal, as well as accessories that give a glimpse into its distinctive personality. An exclusive photo of each rhino is provided as unlockable content to the NFT.

Similarly, diamond artist and jewellery designer Reena Ahluwalia announced her first-ever Diamond Art NFTs on OpenSea Marketplace. Ahluwalia’s ‘DIAMOND-VERSE’ NFTs are ultrarare Edition 1/1, along with limited

Editions,10/10. Her NFTs extend her widely known diamond paintings into a 3D digital realm, expanding her distinct vision and imagination as an immersive luxury experience

DiamonD WorlD | November-December 2021 | 49

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A big yeAr for Auction houses

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he major auction houses hit a record $15 billion in sales in 2021, as an increase in global wealth and a wave of young, firsttime collectors drove sales of everything from jewellery to art. Sotheby’s, in a statement, said 44% of its bidders this year were new to the auction house, while Phillips stated that half of its buyers were new. At Christie’s, 35% of all buyers were new, with two-thirds entering through online sales. A third of their new buyers were millennials.A

boom in global wealth during the pandemic, rolling out of government stimulus packages, central bank easing, increase in asset prices and a rebound in consumer demand led to a massive surge in liquidity amidst consumers, who ultimately wanted to invest their money in something meaningful and timeless. The surge in online stock trading and crypto also led these young, affluent collectors to invest in luxury goods like art, diamonds and watches.

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Prices of lAb-grown diAmonds fell

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ab-grown diamonds (LGDs) witnessed a fall in prices in 2021, owing to advancements in synthesis technology and increased production. The fall in prices led to greater availability, giving them a bigger share in the fashion jewellery market. In the past couple of years, production of LGDs has seen doubledigit growth, with the retail pricesbeing far less than those of polished natural diamonds with the same attributes. It is expected that the downtrend in prices will help LGDs expand into the mass fashion jewellery segment; the category is already being promoted by established players as an alternative to natural diamonds. Additional price drops are likely to make them accessible to price-sensitive consumers, enabling them to make further inroads into the fashion category.

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IndIa experIenced acute shortage of roughs

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y the middle of 2021, it was evident that India was experiencing a pronounced shortage of roughs. Traders struggled to source roughs amidst rising prices, which made it hard to meet strong demand for polished diamonds from the US and China. De Beers and Alrosa depleted their rough inventories in the first quarter of 2021, and this resulted in unusually low availability in the second quarter. Additionally, De Beers also faced operational challenges at some of its mines.

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IndIan govt. ordered traders to joIn gjepc to be elIgIble for rough Imports

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owards the end of the year, the Indian government passed an order, mandating all traders to become members of the Gem & Jewellery Export Promotion Council (GJEPC) for importing and exporting rough diamonds under the Kimberley Process (KP). GJEPC said it will regulate its members to make sure they comply with KP terms. According to GJEPC, the move comes as the government aims to remove itself from the oversight process. It gives GJEPC and its members power to self regulate. The new notification expressly forbids any import or export of rough by anyone not registered with the GJEPC.

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Special Feature

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Brands launched new campaigns to have a stronger connect with consumers

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e Beers announced a new global campaign centered on commitments to ourselves, to one another and the wider world. It marked a fresh, purpose-led brand strategy and new chapter in the company’s 133-year-long history. The statement ‘I do.’ is one of the most significant and time-honoured expressions of intent. Deeply emotional and instantly lifechanging, it is an eternal promise between two individuals to a shared future. De Beers’s new campaign emphasises the importance of these powerful commitments, and takes these two iconic words into new territory, expanding their meaning

to stand for personal pledges of all kinds: to love, friendship, family, society, nature and more. Likewise, GIA’s new advertising campaign empowers consumers with GIA’s expertise. Featuring 12 diverse couples and seven self-purchasers, the global campaign will run in both consumer and trade channels. The campaign is designed to reach consumers early in their diamond purchase journey with a highlytargeted multi-channel rollout.The campaign’s print, video, online and radio elements link consumers to customized content tailored for the top-three global diamond markets – the US, India and China.

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12

industry marked crypto milestones

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n July,Sotheby’s set the highest price achieved for any jewellery or gemstone purchased with cryptocurrency. The exceptional 101.38-carat pear-shaped D Flawless sold for HK$95.1 million / US$12.3 million to an anonymous private collector in a landmark single-lot auction. Named “The Key 10138”, the diamond - the second largest pearshaped diamond ever to appear on the public market – came from the worldleading diamond company Diacore. Many companies have also started accepting Bitcoin as payment for some of their rarest offerings.

Special Feature

How Indian retailers react to surge in diamond pricing

Will the diamond price bubble burst?

The increase in polished diamond prices has been monumental, something the industry hasn’t witnessed in the last decade. The increase is driven by both shortage of goods as well as robust demand. In India, the ongoing wedding season poses a unique problem – consumers may be willing to pay a premium for the diamond jewellery they desire, but they may not get their orders on time considering the acute shortage of goods, finds out Vijetha Rangabashyam 54 | November-December 2021 | DiamonD WorlD

Special Feature

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o say that the diamond industry has been through a rollercoaster ride in the last couple of years would be an understatement. From the industry coming to a grinding halt, mass layoffs, store shutdowns, declining marriages, decrease in rough prices, the industry has rebounded in the last six months from a robust demand for diamond jewellery across the world. The Indian consumers’ appetite for diamond jewellery has catapulted. When stores started reopening after the second lockdown in June 2021, retailers had a chock-a-block schedule. Demand for diamond jewellery, especially in the range of Rs. 1,50,0002,00,000 has been exceptionally high. No amount of cheaper alternatives will replace the desire for natural diamonds, especially to mark important, special occasions and consumers understand this. But, there have been a couple of unprecedented issues that could take the industry back to where it was – acute supply crunch and a surge in polished diamond prices.

retailers not making profits In November, price per carat for HI, SI quality star and melee diamonds increased by Rs. 1,500 within a span of a week. As soon as retailers were able to adjust the pricing, the price shot up again by another 10 per cent within a couple of weeks. “The situation is very worrisome. It is not just the fact that the price is high, but the availability is also very low. We are facing major issues in finishing and fulfilling bridal orders. We are not able to pass on the increase in price to the consumer ,” says Anand Prakash of Abhushan Jewellers, Agra. Consumers have placed orders after Diwali without realizing the increment in pricing and retailers are forced to deliver goods at the same price, whereas diamond jewellery manufacturers are informing retailers that polished prices are fluctuating every 15 days. “I have not seen this kind of supply crunch in the last 25-30 years,” informs Prakash.

The situation is very worrisome. It is not just the fact that the price is high, but the availability is also very low. We are facing major issues in finishing and fulfilling bridal orders. We are not able to pass on the increase in price to the consumer anand prakash, Abhushan Jewellers, Agra

The prices could’ve gone up say by 3-5 per cent every year. And unlike gold, none of the diamond prices is published, so there is no reference point for consumers. So, consumers tend to think that this is all a move by a caucus of jewellers who are trying to fleece money out of the consumers Shreyansh Kapoor, Kashi Jewellers, Kanpur

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Special Feature

With the rapid increase in price, we have to redesign the entire stock, so that we can fit their jewellery into their budget. We are trying to reduce the diamond weight slightly so that we can offer jewellery at the price consumers are comfortable with Vaibhav Saraf, Aisshpra Gems and Jewellery, Gorakhpur

If you look at the older generation, they didn’t like investing in diamonds as they believed that there was no return on investment. But now, we are able to explain to the customers that there has been a 10-20 per cent increase in pricing and they are happy to know that they are making a good investment choice Kailash Kabra, KK Jewels, Ahmedabad

a sudden surge in price will dampen consumer confidence In India, when people buy diamond jewellery, they want a proper break up of the pricing. They also want the per carat price and a certain figure is always embedded in their heads. Some retailers stick to Rs 35,000 per carat while some go as high as Rs 80,000 per carat. and a few stick to the middle range of Rs. 50,000-55,000 per carat. A 10 per cent increase in these prices is difficult to digest. “We keep the same quality, clarity and colour and we are giving the same certificates, but if the price suddenly goes up, it is difficult to justify it. No one expected the prices of rough going up by such a huge margin. This really spoils all our dynamics. We are an exporting company as well for the last 40 years. We have clients across the globe and none of them are comfortable to accept the high prices,” says Shreyansh Kapoor of Kashi

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Jewellers, Kanpur. It is not just the fact that the polished diamond prices have increased, it is the way in which they have suddenly surged. Had it been incremental like petrol or gold prices, consumers would have been more accepting of the price rise. “The prices could’ve gone up by 3-5 per cent every year. And unlike gold, none of the diamond prices is published, so there is no reference point for consumers. So, consumers tend to think that this is all a move by a caucus of jewellers who are trying to fleece money out of the consumers ,” opines Kapoor. redesigning stock & facing supply-crunch The consumer is okay with the pricing as long as it falls within their budget. They are willing to spend 5-10 per cent more due to the price increase, but they still want bang for their buck and this poses a unique problem for retailers.

Special Feature

“With the rapid increase in price, we have to redesign the entire stock, so that we can fit their jewellery into their budget. We are trying to reduce the diamond weight slightly so that we can offer jewellery at the price consumers are comfortable with ,” says Vaibhav Saraf of Aisshpra Gems and Jewellery, Gorakhpur. Aisshpra has a strong merchandise and back office team,

hence the supply crunch has not hit them yet, but there is no saying that it won’t affect them soon. “Going forward, there could be an issue and we are in talks with our vendors as to how we can manage the issue,” adds Saraf. Shortage of goods is a real issue what usually would take up to a month is now taking 45 days to produce. Manufacturers are in a fix as well. Even if consumers have resigned to the fact that there has been an increase in diamond pricing, delayed orders might affect sales. In India, this is the peak season and retailers orders are not getting delivered on time and hence timely delivery to the consumers is not happening. And with the increase in pricing, replenishing stock in the current pricing also becomes an issue. “There is no retailer in the world who can just live on old stock. One has to keep buying to stay in business and we have to buy newer stock at the new prices,” adds Kapoor.

This is good news for the industry. Yes, as retailers we may not make profits for the first couple of months but we need to understand that the consumers will eventually come around. Even if prices were to decrease in the future after the initial fluctuation, it still won’t go back to what it used to be and this is good for all stakeholders pankaj Seth, Durgadas Seth Jewellers, Amritsar

looking at the larger picture The midstream hasn’t seen an exponential jump in pricing since 2011. More than a decade has gone by for the diamond manufacturers as well retailers without any monumental shift in pricing, so a correction was indeed long overdue. The increase in price bodes well not just for the industry but also the consumers. “If you look at the older generation, they didn’t like investing in diamonds as they believed that there was no return on investment. But now, we are able to explain to the customers that there has been a 10-20 per cent increase in pricing and they are happy to know

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Special Feature Finding the middle ground Most of the large retailers source loose diamonds and diamond studded jewellery from select manufacturers in India. “I think it would be ideal to find a middle ground to ensure that the pressure doesn’t fall on just retailers. We understand that there is a reason why prices have gone up and a price correction has been long overdue. But only retailers taking the burden of increase in price has a direct impact on consumers – but if the price increase is split between retailers and manufacturers then I think we have got a solution at hand ,” reasons Pratap Kamath of Abaran Timeless, Bengaluru.

It would be ideal to find a middle ground to ensure that the pressure doesn’t fall on just retailers. We understand that there is a reason why prices have gone up and a price correction has been long overdue. But only retailers taking the burden of increase in price has a direct impact on consumers – but if the price increase is split between retailers and manufacturers then I think we have got a solution at hand pratap Kamath, Abaran Timeless, Bengaluru

that they are making a good investment choice ,” says Kailash Kabra of KK Jewels, Ahmedabad. When it comes to gold, the prices shot up by 40-50 per cent during the pandemic. There was initial reluctance but people eventually became comfortable with the price. This will be the situation for diamonds too. Many retailers are also stoked by this situation because they have invested a lot in diamond jewellery and an increase in price also means that they are sitting on good capital. “I think this is good news for the industry. Yes, as retailers we may not make profits for the first couple of months but we need to understand that the consumers will eventually come around. Even if prices were to decrease in the future after the initial fluctuation, it still won’t go back to what it used to be and this is good for all stakeholders ,” says Pankaj Seth of Durgadas Seth Jewellers, Amritsar.

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educate the consumer The midstream has to tide through this crisis together but the more important solution at hand would be to educate the consumer, which in turn will also instill a sense of trust in their minds. “They need to understand that diamond is a natural product and comes from the earth. As major mines have been exhausted and production of diamond roughs are becoming lower and lower, availability of good quality roughs will become low and the prices will increase,” adds Kapoor. It is important to note that to sustain the increase in price, the industry has to work together – cut and polished manufacturers have to replenish roughs responsibly and retailers have to think of innovative ways in which they can sell diamond jewellery at a premium while ensuring that the consumers are getting their money’s worth.

Special Feature

Jewellery Trends from Pop Culture

TreNDs TO TAke AwAy FrOm 2021’S iconic pop culture momentS From Lady Gaga’s emboldening pieces in House of Gucci to Bond Girl Ana De Armas’ diamond jewellery in No Time to Die, this is what popular culture has taught us about jewellery this year, says Vijetha Rangabashyam

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Special Feature

And Just like thAt – Layer it Up!

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e couldn’t do much in 2021. Most of us were sitting in our homes, binge watching one TV show after the other and some of the blockbuster films that premiered on OTT platforms. For jewellery aficionados, it was a golden opportunity to vicariously live a life of luxury, dolloped with beautiful jewellery. We take a look at jewels that played as much a role as the characters themselves, breathing life into the scenes with their shimmer and sparkle.

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e patiently waited for HBO’s Sex and the City’s reboot. It went down in history as one of the most popular shows on television at that time – four beautiful girls, New York, finding love, beautiful clothes, shoes and wait for it, jewellery of course! So when And Just like That premiered, we all wanted to know how Carrie’s fashion choices have changed or should we say evolved? Sarah Jessica Parker who plays Carrie, is seen wearing plenty of

colour gemstone studded jewellery like malachite beaded necklace, a beautiful cabochon green onyx necklace and a necklace with orange center stone surrounded by rose cut diamonds in rose gold on an oxidized sterling silver chain. We also noticed that pearls and jewellery with a lot of symbolic motifs and charms are a constant in the show, and most of all, Carrie doesn’t stop with one – she is always seen layering multiple necklaces in varying lengths.

trend takeaways: Bright and beautifully hued jewellery, stacking, pearls, charms and motifs that generate positivity

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Special Feature

House of Gucci – ClassiC always wins

Taylor swifT’s HearT rinG – Offbeat GemstOnes

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or her directorial debut, Blake Lively ensured that she got involved herself in the jewellery that appeared in Taylor Swift’s video “I Bet You Think About Me”. Amidst an all-white cast at a wedding, Swift looks effulgent in red outfits and in one part where she takes a chunk of the red velvet wedding cake, she is seen wearing Lively’s heart ring. The ring was commissioned by Lively from Retrouvaí – a beautiful 8ct heart shaped rubellite flanked by 2.5ct of diamonds - demand for offbeat, unconventional engagement rings is already on the rise and we bet after this video, there are brides out there who are hunting for heart shaped engagement rings studded with scarlet hued stones!

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wo hours and thirty eight minutes of unadulterated jewellery love, if not anything else. The film may not have been power-packed in terms of its storytelling but we conjured up many a powerful story in our minds through Gaga’s (who plays Patrizia Reggiani) jewellery choices. Most of her jewellery came from Bvlgari’s High Jewelry and Heritage collections. Her audaciously over-the-top looks are finished off with emboldening pieces from the Italian jewellery maison. One of the masterpieces is from their Heritage Collection with beautiful triangular patterns, redolent with amethysts, citrines, pink tourmalines and a gorgeous cabochon emerald at the center. The other stunning piece she is seen wearing with a gorgeous red outfit is from Bvlgari’s Le Magnifiche collection – the necklace is set with 11 oval rubies weighing 24.92-carats and 77 round brilliant cut diamonds.

trend takeaways: big and bold pieces, 80s jewellery styles, Vintage jewels and over-the-top

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trend takeaways: Heart shape, engagement rings with offbeat stones

Special Feature

Shiv roy’S UnderStated pieceS in SUcceSSion – the uber rich like MiNiMalisM

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f you want to know how the ultra rich wear jewellery, look no further than HBO’s Succession. Shiv Roy, the power-hungry, relentless and coldblooded daughter of media Mogul Logan Roy is often seen pairing her sharply, tailored pantsuits and turtle necks with classic, simple, yet timeless pieces of jewellery. The jewellery choices of Shiv, though understated, make a powerful statement – she doesn’t have to prove to anybody that she is wealthy. Shiv is seen wearing delicate gold chains with small pendants, minimalist ear studs and even her slightly bold looks are subtle in nature like the Noreis gold collar statement necklace by Bonheur she pairs with a peach satin blouse in one of the episodes.

trend takeaways: sleek gold chains with small diamond pendants, high quality and well made pieces which are subtle

Spencer – NothiNg spells luxury like pearls

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here have been several tales about Lady Diana that have been told and retold – twenty three years after her passing, people still don’t tire of the stories that center around Di, her charisma, her carefully put together looks and of course, jewellery. Mouwad was the official jewellery partner for the film. Mouwad recreated Diana’s blue sapphire engagement ring – featuring 1.82 carats of diamond and 7.25 carats of sapphire that came close to the original ring that Diana picked out herself. From pearl button earrings to classic pearl strands that she wore around her neck, the Princess loved her pearls. From pearl drop earrings with a smattering of diamonds to lavish tiaras and diamond encrusted necklaces, the film takes us into the world of the Princess’s sophisticated jewellery choices.

trend takeaways: classic pearls, diamond statement necklaces

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Special Feature

No Time To Die – DiamonDs Do it!

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here were a lot of lost opportunities for jewellery in the previous Bond films - but No Time to Die more than makes up for it. Ana de Armas, the new Bond Girl, who also happens to be the brand ambassador of the Natural Diamond Council, sizzles in diamond jewellery created by Chopard. It is quite amazing how she performs action packed sequences with so much ease wearing diamond jewellery like the necklace set with pear-shape diamonds weighing 43cts, a beautiful fringe bracelet set with pear-shape and brilliant cut diamonds weighing a total of 82cts and finally a pair of diamond hoop earrings with 14cts of diamonds. If there is one thing we learnt from this film it is the fact that fierce women make bold choices and that includes diamond jewellery!

trend takeaways: Diamonds, diamonds and more diamonds

HeleN mirreN’s BooDles Necklace iN F9 – EvEryonE likEs a bit of Drama!

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e love all the drama and action that the Fast & Furious franchise brings with it but this time, we loved it a little more, thanks to the absolutely ravishing necklace worn by Helen Mirren, who plays criminal mastermind Queenie in the film. The Greenfire necklace is from Boodels’s High Jewellery collection. According to Rebecca Hawkins, head of design at Boodles, the necklace, which is worth approximately $1.3 million, is inspired by sunbeams piercing through trees in a forest. The piece is set with seven large cushion-cut emeralds mined from Muzo mines in Colombia, along with 17.38 carats of round brilliant-cut diamonds, crafted in platinum.

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trend takeaways: Gemstones that have a story to tell, provenance

Special Feature

#Bennifer – Of LOve, HOpe and StOryteLLing

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lo and Ben Affleck’s getting back together has got to be one of history’s most famous couple reunions. They literally broke the internet with their news of becoming #Bennifer again. A lot has changed since 2002, when Affleck gave Lopez a pink diamond engagement ring. For her 50th birthday, Affleck wanted to gift Lopez something out-of-the-ordinary, to seal their reunion, a token of eternal love or should we say several tokens of eternal love? Jlo posted a sweltering picture

of herself wearing multiple gold link chains and charms, all from Foundrae. Affleck wanted the jewels to narrate their love story – the jewels were full of hearts, internal compass, Karma and more. The golden key charm, also known as the Bowen’s Knot, is a heraldic knot representing the connectivity of true love. Surrounded by pave diamond letters, the oversized love token celebrates the seven classic types of love as defined thousands of years ago. The baby medallion she wore

represents protection – what their love story teaches us about jewellery. More than preciousness, women appreciate deep, mindful choices that come with meanings that they can resonate with.

trend takeaways: Jewels that express love, gratitude, protection and trust, medallions and link chains

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Trade Fair

Jaipur Jewellery Show

JJS dazzles the industry with big turnout! The 17th edition acted as the perfect platform for buyers and exhibitors alike amidst the ongoing wedding season, with over 25,000 visitors across four days. The show also witnessed buyers from 1000+ brands

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he Jaipur Jewellery Show was back in action after two years with the 17th edition that witnessed robust business and heavy footfalls. The show marked a milestone, with the highest footfall ever over the last 19 years -- a whopping 25,000+ visitors across all four days. Timed well, the event acted as the perfect platform for retailers who were looking to stock up on jadau inventory, in light of the ongoing wedding season. The show was inaugurated in the presence of Chief Guest Amit Yadav, IAS, Director General, DGFT, and

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Additional Secretary, Department of Commerce and Industry; Ashish Pethe, Chairman GJC; Nirmal Kumar Bardiya, Regional Chairman, Rajasthan GJEPC; and other dignitaries from JJS like Vimal Chand Surana, Chairman; Rajiv Jain, Secretary; Nawal Agarwal, Director; and Ajay Kala, Joint Secretary; and others. Both the halls were packed on all days, and interestingly, the last day also witnessed many trade visitors. Considering the rising cases of Covid in India, the show happened with a lot of trepidation regarding buyer

Trade Fair

Courtesy of Sparsh Jewellers

turnout, but both the committee and the exhibitors were pleasantly surprised. “We are absolutely thrilled that we were able to put together the show amidst the ongoing pandemic. All the exhibitors are happy with the outcome. Serious business was happening at the show and the exhibitors have requested for more space in the next edition,” said Rajiv Jain. The show is a high-end platform for jewellery designers, manufacturers and retailers to showcase the latest trends in the domain of gems and jewellery and expand their reach in the industry. Over the years, JJS has evolved into a superlative event and is India’s largest B2B and B2C jewellery

show. With a humble beginning of only 67 stalls in 2003, the show has shown phenomenal growth over the years, both in the number of participants as well as visitors. This year, more than 1000+ top retail brands participated in the event. The major highlights included the JJS IJ Jewellers Choice Design Awards powered by GIA that attracted over 500 visitors, as well as the Women Achievers Award, with Diya Kumari, MP, Rajsamand, felicitating women achievers in the jewellery industry. Nirupa Bhatt, Sunita Shekhawat, Advaeita Mathur and Suhani Pitte were some of the women achievers who were recognised for their work.

17th Edition of JJS Highlights

• The show saw 25000+ visitors across all four days, both trade buyers and consumers • The first three days were exceptionally good, B2B strong performer • Big, bold jadau pieces were star performers, in light of the ongoing wedding season • Most jewellery manufacturers faced issues regarding sourcing diamond polki and precious gemstones, due to shortage and price hike • Retailers were more keen on ready stock and immediate delivery, instead of placing orders • Many manufacturers were doubtful about immediate delivery • JJS IJ Designers Choice Jewellery Awards powered by GIA was an added attraction for jewellers, with 100 finalists and 22 winners across India, and an audience of 500 jewellers • The Women Achievers Award was a welcome addition to the whole event, a great way to encourage women folk in the jewellery industry

Courtesy of Ghatiwala

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Design stuDio

Lauren Harwell Godfrey, Founder and Designer of Harwell Godfrey

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good Vibes With a background in advertising and culinary arts, Harwell Godfrey is an unintentional business begun by founder and designer Lauren Harwell Godfrey. In a very short span of time, the brand has gone on to gain strong recognition, thanks to its pieces that all have a story to tell, says Vijetha Rangabashyam 68 | November-December 2021 | DiamonD WorlD

Design stuDio

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t’s not very often that you find someone who has worked in advertising branch out to the culinary arts and then plunge themselves into the world of jewellery. Lauren Harwell Godfrey is heralding the black-designer movement with utterly beautiful jewels that are steeped in stories, colourful gemstones and exquisite designs. After burning out

in advertising, she decided to go to culinary school. At that time creating jewellery became an outlet for her, where she could make funky jewels for herself to wear. ‘I realized I wanted to be a jewellery designer after a few other creative careers. I enjoyed working for other brands for over 15 years as an advertising art director and creative director. I then shifted my creative sights to the culinary world where I worked on recipe development, food styling and helped open a vegan restaurant. I didn’t feel like I was adding much to the food world and started making jewellery for myself because I was tired of making food,’ says Godfrey. People started to notice the jewellery she was making and wearing, so Godfrey began making it for people other than herself. In the beginning the pieces were made from leather and crystal and

I am very inspired by the art and culture of the African diaspora. As a black designer with African heritage, I take a lot of pride in creating fine jewellery that takes this inspiration into the luxury goods world. I’m also very inspired by the people around me and how they wear jewellery. I think a lot about my friends when I am working on pieces. And of course, travel is the ultimate inspiration - especially when it comes to colour and pattern. Two places I love Marrakech and Jaipur!

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Design stuDio she made everything from scratch. “I realized I had a vision for the work and wanted to scale so I decided to focus on design and have skilled artisans do the making. That’s when I shifted to fine jewellery,” adds Godfrey. The jewellery industry in the U.S. is mostly dominated by white, familyowned establishments and to carve a niche for herself was not an easy feat. But thanks to her solid design ethos and brand voice, with the help of a brand development agency, Godfrey was able to find a space for herself. “I was lucky in that I sought the help of For Future Reference, at the very beginning of my shift into fine jewellery. They mentored me and helped me learn how to take my ideas from theory to reality. They also got me in front of amazing retailers and editors. I really owe them a lot and could have never established my brand as quickly without them,” says Godfrey. Godfrey’s jewellery is full of colour, whimsical patterns and meanings. They are brimming with hope and vigour. Motifs like the evil eye, moon and heart are a mainstay, while the juxtaposition of geometric patterns with softer, fluid shapes like that of a moon is extremely inspired. “I am very inspired by the art

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and culture of the African diaspora. As a black designer with African heritage, I take a lot of pride in creating fine jewellery that takes this inspiration into the luxury goods world. I’m also very inspired by the people around me and how they wear jewellery. I think a lot of my friends when I am working

Design stuDio

on pieces. And of course, travel is the ultimate inspiration - especially when it comes to colour and pattern. Two places I love - Marrakech and Jaipur,” she quips. Godfrey’s Rainbow Heart Talisman pendant is something of a phenomenon. Bursting with every shade of sapphire

with a smattering of tsavorites, amethysts and diamonds, hundred percent of profits from every piece sold is donated to the Human Rights Campaign, the leading foundation in the fight for LGBTQ rights. The pendant, envisioned as a healing talisman, has a rainbow heart at its core. As Godfrey

sketched the design, she realized that her signature triangle motif placed over the heart in repetition created what looks like a broken heart that has been put back together. The rainbow motif is meant to encompass all gender identities, and is now the most widely recognized symbol for LGBTQ+ pride. The other popular piece is her “Major Moon” pendant from the collection “Valley on the Moon”, inspired by the birth of her son, after the Super Moon of November 2016, and her home in Sonoma, California. A beautiful crescent motif comes alive with triangles, a recurring pattern in most of her creations. Her generous use of gemstones like lapis and malachite also have an association with the energy and healing properties they carry. Godfrey’s pieces are for women who feel strongly about their opinions, who feel that they could do with some good juju and more importantly those who feel the need to make this world a better place to live in. “It’s all about good vibes, color and pattern with a maximalist aesthetic,” signs off Godfrey.

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The Rock Talk

Colore 18K yellow gold multistone bracelet, Carolina Neves 18 karat yellow gold rosecut diamond cuff bracelet, Karsandas Lakhman Jhaveri

Diamond pave 18k white gold cuff bangle bracelet, Sarossi by Timeless Jewels Geode 18K yellow gold diamond cuff, Emily P.Wheeler

Frosted ice 18K white gold diamond bracelet cuff, Mishaara Elixir 18K white and rose gold diamond bracelet, Alessa

Promise Alyada 18K yellow gold diamond cuff, MKS Jewellery

Sleek Bracelets

Sleek Beauty These cuffs with a smattering of diamonds are an epitome of elegance and edginess at the same time

Yellow gold cuff bracelet with diamonds, Chatila

Voyage 14K gold diamond cuff, ONDYN

Florentine 18K gold diamond cuff, Ashley McCormick

18 karat yellow gold and diamond double cable cuff bracelet, David Yurman

Handcrafted yellow gold cuff bracelet, I.Reiss

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The Rock Talk

Lucia bar tag chain necklace, Sara Weinstock

Blue sapphire and diamond double bar necklace, Ri Noor

18K gold, aquamarine, emerald and sapphire bar necklace, Yi Collection

Diamond-bar pendant platinum necklace, Mini Mond

Bar Necklaces

Raising the Bar

Redolent with gemstones, sometimes engraved and sometimes aligned with diamonds, bar necklaces are all the rage right now

Diamond bar necklace, 14 Karat yellow gold beaded chevron, Gabriel & Co

Disco 18K rose gold tourmaline, diamond bar necklace, M.Spalten

1.85 ct sapphire diamond bar chain necklace 14kt white gold, Roshe Jewels

Multi-shape emerald and diamond bar necklace, Ruchi New York

Yellow gold bar necklace with champagne diamonds, Syna

Old mine diamond Victorian style gold bar necklace, Mindi Mond

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Victorial gold necklace set with amethyst, Toni + Chloë Goutal

The Rock Talk

Pink and purple, amethyst, sapphire, siamonds, 18 Karat white gold necklace, Jewels by Viggi

Divina amethyst pendant, Noor Fares

Amethyst

Purple haze

Bring in the new year with a dose of pizzazz and passion with these beautiful pieces set with gorgeous amethysts

Amethyst & gold cannetille pendant Earrings, Fred Leighton

18 Karat Gold, Amethyst and Kunzite Pendant-Necklace, Tony Duquette

18K yellow gold amesthyst awe bracelet, Aletto Brothers

18K yellow gold amesthyst awe bracelet, Aletto Brothers

Joker amethyst earrings, Avakian

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Cinderella 18K yellow gold amethyst, diamond ring, Anabela Chan

The Rock Talk London 18K gold and amethyst necklace, Katey Walker

Amethyst diamond yellow gold 18 Karat necklace, Natkina

18K gold amethyst earrings, Renee Lewis

18K yellow gold amethyst necklace, Goshwara

Amethyst cabochon and leather ring, Fabio Salini

Amethyst and Mother of Pearl chandelier earrings, Naeem Khan

Vintage 1980’s 15ct cushion cut amethyst ring Antique amethyst necklace, Simon Teakle

Natural purple amethyst in 18k yellow gold Art Deco style earrings, Ferrucci

Amethyst tourmaline and kunzite pendant earrings, Sabbadini

Verdura Byzantine Riviere amethyst necklace Platform ring, Nicholas Varney

Shirley 18K yellow gold amethyst ring, Sarah Hendler

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Haute Joaillerie

Sixième Sens - Cartier

Bliss for The senses

The collection comprises seven necklaces and rings that present optical illusions, graphic design themes and geometric ornamentations that literally speak to you

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Haute Joaillerie

The collection also has an all-diamond piece -- the Coruscant Necklace, which sports D- and E-coloured internally flawless diamonds. Each cut and arrangement in the long necklace is designed to reflect light at a different angle. It has three standout stones -- a 3-carat kite, a 1.62-carat octagon, and a 1.54-carat emerald-shaped diamond

T

he new Sixième Sens par Cartier (Sixth Sense by Cartier) High Jewellery collection is not just a sight to behold, it is also an intense experience to be felt and internalized. It combines textures, colours and materials in myriad ways, with the end result being nothing short of hypnotic. The collection comprises seven necklaces and rings that present optical illusions, graphic design themesand geometric ornamentations that literally speak to you. The standout piece is the Meride necklace, which mesmerises you with its latticework of black onyx, mirror polished metal, rock crystal and colourless diamonds, all coming together to form a checkerboard pattern

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Haute Joaillerie

that looks like a 3D graphic. It is a mischievous piece that plays tricks on your mind – if you stare at it for too long, the stones appear to multiply and move. This illusion is created by the relief of the piece and the layered elements that are mounted at different levels, all designed to challenge your depth perception. The pattern of black and white is reversed on the back of the necklace, giving it extra pizzazz. Then there is the Pixelage necklace,

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which is described by Cartier as a “stylized play on the feline’s coat”. It evokes the famous Cartier Panther, which has been the go-to motif of Cartier, used in its jewels and watches, for more than a hundred years. As the name itself suggests, it can be conceived as a pixilated image of the iconic cat image. The irregular rectangles and quadrilaterals of polished onyx, and white, yellow and orange diamondsbring to mind a feline’s coat.The diamonds represent the thickness of the pelt, and the golden reflections are highlighted by three gold topazes totalling 27.34 carats, which run down the centre line of the necklace. The Phaan ring is an architectural tiered creation, which features an 8.20-carat ruby that sits directly above a 4.01 carat rose-cut diamond,which intensifies the hue of the ruby when light passes through. This optical trick is enhanced by the triangular diamonds and smooth beaded ruby cabochons that have a subtle openwork pattern to allow more light into the heart of the ring. The shank of the ring features a

Haute Joaillerie

number of diamonds. Moving on, the Parhelia ring has a 21.51-carat sapphire cabochon in the middle, and has five semi-circles of radiant diamonds that fan out from each side of the centre stone. It covers three fingers with a silhouette that’s part Art Deco and part bowtie-inspired, and is replete with diamonds, emeralds and black lacquer. A 21.51 carat sapphire cabochon sits in the middle, with the colour combination of the emerald and the sapphire being reminiscent of the

famed Cartier peacock motif. Shadow effects are created by a touch of black lacquer, which reinforces the impression of movement in the ring. The ring is transformative, as the extensions are detachable and can be worn as brooches. The collection also has an all-diamond piece -- the Coruscant Necklace, which sports D- and E-coloured internally flawless diamonds. Each cut and arrangement in the long necklace is designed to reflect light at a different angle. It has three standout stones -- a 3-carat kite, a 1.62-carat octagon, and a 1.54-carat emerald-shaped diamond. The Art Deco motif extends right up the neckline in a repeated motif.The chain looks like a braid of gemstones, with round brilliant-cut stones and baguette-cuts. The Sharkara necklace reminds one of futurism in the Art Deco movement. It has a geometric pattern, featuring straight lines, curves, squares and spheres. The structure of this creation is visually very appealing, and comes with a colour palette of pink, orange and grey tourmalines, sapphires, garnets and diamonds. Lastly, there is the Alaxoa necklace, which is an ode to emeralds, with a

seamless colour palette of green gems in faceted, cabochon and beaded form. It sports a curve of diamonds that descends down the chest. The necklace has tiny metal bridges woven into it to maintain its fan shape. At the same time, the individual emerald fringes sway, as the wearer moves. The hint of white diamonds adds allure to the piece. Incidentally, the Coruscant, Sharkara and Alaxoa necklaces come with matching pair of earrings. As Cartier puts it, the collection is said to “illustrate the soulfulness particular to High Jewellery, an art form with unique emotional power, caught between surprise and wonder.” And if you like surprises, then this collection will work very well for you.

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GIA AdvertorIAl

Stone Talk

Emerald Once prized by Inca kings, pharaohs, Spanish

The ancients believed that emerald was imbued with

conquistadors and the Mughal rulers, emerald remains

magical powers: it offered protection against evil spells,

coveted by enthusiasts around the world. Emerald is

and was a cure for cholera and malaria. Wearing an

the strong bluish green to green variety of beryl. Trace

emerald had other virtues - it exposed lovers who made

elements that cause emerald’s colour are chromium

false promises and endowed speakers with eloquence.

and sometimes vanadium. Cleopatra was reputed to have a passion for emerald Emerald’s name comes from the ancient Greek word

and used emeralds from the historic Egyptian mines

for green (smargdos). Pliny the Elder (AD 23–79),

in her royal adornments. The Spanish settlers in

author, philosopher and naturalist of ancient Rome,

South America traded emeralds, and appreciated their

described the gem in his book, Natural History, as “…

beauty. Their admiration for it sparkles in the legendary

nothing greens greener.” He also noted that its beneficial

Crown of the Andes, which was assembled and kept

properties were ideal for lapidaries, who “have no

in Popayán, Colombia in the mid-1600s. It has 442

better method of restoring their eyes than by looking

emeralds, including a 24 carat emerald purportedly

at the emerald, its soft, green colour … removing their

confiscated from the Inca emperor Atahuallpa.

weariness and lassitude.”

©2018 GIA. GIA® is a registered trademark of Gemological Institute of America, Inc.

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ADT180050_Emerald_Advertorial_India_v10.indd All Pages

About Emerald

GIA AdvertorIAl

Emerald’s green is unique among gemstones.

Emerald Sources and Production

The most desirable colours are bluish green to pure

Colombia, Brazil and Zambia supply the majority of

green with strong to vivid colour saturation and medium

emeralds. Colombia has been the source of the finest

to medium-dark tone. The relative strength of an

emeralds for more than 500 years. Muzo, Chivor and

emerald’s hue, tone and saturation are the principal

Coscuez are three of its noteworthy mining sites.

determinants of value. Jaipur is one of the world’s largest cutting centers for Emeralds are known to generally have more growth

emerald. Indian appreciation for emeralds is ancient,

characteristics than most other gemstones, and these

as the Mughal rulers coveted the vivid green colours.

inclusions are often referred to as “jardin,” from the

India became one of the principal destinations for the

French term, meaning garden. Peering through a

gems following their discovery in Colombia by the

microscope, such scenes are indeed reminiscent of

Spanish conquistadors.

a lush green garden. Eye-clean stones are very rare. The most prized emeralds are highly transparent with

To learn more about emeralds and other popular

even colour distribution and no eye-visible colour zoning.

gemstones visit GIA.edu/gem-encyclopedia

Treatments Surface-reaching fractures or fissures in emeralds are often filled with oils, or oil-like substances, that can make the fissures appear less noticeable. The treatment increases the transparency of the gem. Since oil treatments can leak or oxidize over time, more stable fillers like paraffins and resins are sometimes used.

This article is provided by GIA (Gemological Institute of America).

GIA.edu

Images Courtesy of: Necklace, Private Collector; Emerald Crystal, Ismael Daoud

Learn More About GIA Education Programmes and Laboratory Services in India GIAindia.in Email: [email protected] Email: [email protected] DiamonD WorlD | November-December 2021 | 85

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