‘Innovation’ is the Mantra of the Hour
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Friday,January 25 2019 [ Issue 4 January/ 2019 ]
‘Innovation’ is the Mantra of the Hour
Everybody in the diamond value chain, from the miner to the retailer is trying to think outside the box. Out of the box thinking is not an option anymore, it is mandatory if you want to stay ahead of the curve. Globally, diamond jewellery sales have dropped. Well-known chain stores in the U.S. have not particularly fared well over the holidays. The situation in India too is not really great. From Diwali through New Year and the wedding season, retailers are not seeing a good demand for diamond jewellery. The drop in diamond sales could be because of a number of factors – people losing confidence in diamonds, a general apathy towards diamonds amidst millenials, an interest in lab-grown diamond jewellery, people spending money on other forms of luxury and more. We need to make diamonds a priority and bring back its sparkle amidst consumers and this is the ground reality. We need to speak the language of the millennials to engage them and make them fall in love with diamonds. We need to think of new ways of making customer experience rich and memorable. We need to think of new ways to promote this miracle of a stone, that is a billion years old. We need to innovate, period.
 
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Highlights

The famous Argyle Mine, Rio Tinto’s flagship diamond mine in Australia, produced 14.07 million carats in 2018 – an 18% drop compared to its production in 2017, according to Gem Konnect. The miner’s Diavik mine in Canada prod

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After stunning the world by becoming the single largest shareholder in one of the world's best-known mining groups, mining mogul Anil Agarwal, is keen to bring South Africa-based Anglo American to India for prospecting of coal, iron ore, copper and o
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Almost every conference, seminar or talk show that focuses on diamonds and their inimitable rarity concentrate on how the industry can promote diamonds amidst millennials. The issue is spoken about so often that even the mention of the word millen

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Sarine Technologies is inaugurating its newly branded, advanced and fully automated diamond grading lab, the only such facility based on artificial intelligence (AI), during the Internationa
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Members of the Gem & Jewellery Export Promotion Council & Board of Directors of Indian Institute of Gems & Jewellery Mumbai gathered with students, faculty & esteemed guests to celebrate another milestone of IIGJ Mumbai’s acc

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  • In Q4 2018, diamond production decreased by 2% q-o-q (up 2% y-o-y) to 10.3 m carats driven by seasonal suspension of production at alluvial deposits, which was almost fully offset by incr
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CIBJO's new Responsible Sourcing Blue Book highlighted a well-attended seminar at the VICENZAORO January jewellery trade show in Vicenza, Italy, on January 19, which also featured the precious coral sector as a case study for sustainability.

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The 63rd edition of the Bangkok Gems and Jewelry Fair (BGJF), which will take place from 20-24 February, 2019, is set to present an extraordinary array of gold and silver jewelry, fine jewelry, gem-set jewelry and polished precious and semi-precious
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 It’s a rare moment when an
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The Gem & Jewellery Export Promotion Council, organized an India Pavilion at the Vicenzaoro Winter 2019 held from 18 th – 23 rd January 2019. Covering a total area of 355 sqm, this year India Pavilion has 19 exhibitors, showcasing thei
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The International Gemological Institute, IGI, conducted an integrated session for the sales team and clientele of Patel Jewellers in Mehsana. The Retail Support Program is a specialized session, designed to help retail sales professional refine their
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After a successful inaugural show, GemGenève prepares for its second year, building on its success as an innovative jewellery marketplace offering top-grade gemstones, pearls, jewels, objet

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Canadian mining giant Lucara, through its mining operations in Botswana has achieved another significant success: the discovery of a massive top-white diamond, with carats measuring in the low triple digits, IDEX Online reports. At the Karowe

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Tiffany & Co reported its sales results for the two months (“holiday period”) ended December 31, 2018. Worldwide net sales declined 1% to $1.04 billion and comparable sales declined 2%. However, on a constant-exchang

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Jason will be the third exec to leave his position in the company after its acquisition in 2017. Bain Capital’s Eric Anderson will be serving as the interim CEO – Bain was one of the three firms that acquired Blue Nile in 2017.

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