The diamond industry needs to rethink how it communicates value, according to Italian jewellery designer and entrepreneur Roberto Coin, who used the opening of CIBJO’s Centenary Congress in Vicenza to deliver a pointed message on the challenges facing the natural diamond market.
Coin said the industry was “losing out” and highlighted the growing difficulty of communicating the value and credibility of natural diamonds to consumers.
His concern was particularly evident in the way diamonds are increasingly discussed in the marketplace. Referring to his experience in the US, Coin said the conversation often comes down to one question: “How much per carat?”
For Coin, that focus risks reducing one of luxury’s most emotionally charged products to a commodity.
Coin also highlighted the commercial pressures confronting jewellery companies working with diamonds. The more stones a piece incorporates, the greater the challenge of maintaining profitability in a highly competitive market.
“The less diamonds I put, the more profit I make,” he said, describing the paradox as something that “doesn't make any sense” but reflects the realities of the market.
He pointed to the sheer level of competition within the diamond trade, questioning whether the industry is dealing with too many dealers or simply too much supply.
Yet his own business demonstrates that diamonds remain central to fine jewellery. Coin noted that more than three million diamonds were set into jewellery by his company last year.
For Coin, the answer lies in reconnecting diamonds with aspiration and creativity rather than allowing price to dominate the conversation.“I love diamonds,” he said, while stressing the importance of believing in the beauty of one's own dreams.
That sentiment goes to the heart of the challenge facing the natural diamond industry: creating desire rather than simply presenting a price.
The industry, he suggested, has an opportunity to strengthen its proposition by communicating why diamonds matter within jewellery—not simply what they cost as individual stones.
Coin also acknowledged the importance of CIBJO's work and specifically praised the organisation's Blue Books, which provide internationally harmonised standards and terminology for the jewellery, gemstone and precious-metal sectors.
That credibility becomes increasingly important as the industry navigates a marketplace where consumers are confronted with different diamond categories and competing value propositions.
For Coin, establishing clarity and credibility is essential to ensuring that consumers can make informed choices and understand what they are buying.
His vision for the future extended beyond the diamond itself to the jewellery industry and its creative centres.
Coin urged greater attention to Italy's jewellery districts, including Vicenza, Arezzo and Valenza, pointing to the country's long history of craftsmanship and its continuing ability to innovate.
“Creativity is endless,” he said, noting that his own company produces hundreds of new models each year.
His message was clear: the future of jewellery will depend on continuing to create products that consumers want—not simply products that contain valuable materials.
Coin ended with a challenge to the industry itself.
“We think we are good,” he said. “I'm saying probably we are not good enough. We can be much better.”
For the diamond trade, his comments offer a pointed takeaway. At a time when pricing, supply and competition dominate industry conversations, the bigger question is whether the trade can move the conversation back towards desire, differentiation and value.
The next phase of growth, Coin's remarks suggest, may not simply be about selling more diamonds. It may be about giving consumers a stronger reason to want them.
