Chandler started his jewelry career at Michelson Jewelers, joining the Diamond Council of America as president and CEO in 2001.
The 2016 Global Diamond Report Is Out
While diamond consumption globally is in a “moderation phase,” the overall outlook for the future is positive, the report says.
Antwerp--The Antwerp World Diamond Centre and consulting firm Bain & Company have released their sixth annual global diamond jewelry report.
Examining 2015 and early 2016, the report states that diamond consumption is in a “moderation phase” after growing from 2012 to 2014.
Demand is highest among U.S. consumers, and this was reflected in the improvement of same-store revenues from mainstream jewelry retailers in 2015 like Signet Jewelers Ltd., which owns and operates Kay Jewelers, Jared the Galleria of Jewelry and Zales stores.
Worldwide, retail sales of diamond jewelry increased by 3 percent in 2015 at constant exchange rates, but declined by 2 percent in U.S. dollars. This is due in part to Chinese sales; mainland sales were strong but Hong Kong and Macao experienced a decline in tourist spending.
According to the report, rough diamond sales fell 24 percent in 2015 as suppliers reduced output to match decreased customer demand, increased inventory, and cut rough diamond prices.
Profit margins were some of the lowest in recent years as demand slowed and polished diamond prices decreased. This was coupled with high inventory levels, culminating in cutters and polishers unloading approximately $5 billion in inventory to improve liquidity.
After a difficult 2015, midstream operators restocked in the first half of 2016, and rough diamond sales grew by 20 percent.
This isn’t necessarily positive, however, the report notes, as retail demand must now increase to meet the supply.
In the first half of 2016, sales declined at major jewelry retailers--like Signet--indicating the midstream sector likely will be oversaturated.
Remarking on retail’s hottest topic--millennials--the global diamond jewelry report states that the generation totaled 900 million across India, China and the United States in 2015, with a total income of about $8 trillion. The report advised that the jewelry industry invest in appropriate marketing and brand building that is millennial targeted.
Overall, the outlook for the diamond market is good, with supply of rough diamonds expected to stay in sync with demand over the next three years.
The recent decrease in rough demand is expected to reverse, instead growing probably about 2 to 5 percent annually, with rough production expected to dwindle by about 1 to 2 percent through 2030. This should even out the supply-demand relationship, the report states.
A key factor in this, however, is the growth of the Chinese and Indian middle classes.
Threats to the industry include lab-grown diamonds, possible U.S. recessions,
Also, the midstream category of diamond players should “secure access to financing and continue to improve its business model to sustain profitability amid potential price volatility.”
To read the entire 2016 Global Diamond Report, visit Bain.com.
The Latest

Scottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.

Ahead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.


The annual star-studded campaign for International Women’s Day encourages collective action against domestic violence.

The statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.

Emergencies can happen anytime, anywhere , and Jewelers of America has what you need to be prepared for it all.

Longtime employee Kyle Slosson has been promoted to the role.

First-generation jewelers Dan and Hope Wixon are retiring and will close their Minneapolis-area jewelry store in May.

The limited-edition collection, a nod to the Year of the Snake, is Ukrainian brand Guzema’s first partnership with a U.S. brand.

After more than 50 years, Jeff Roberts is handing over ownership of the organization to IJO President Stephen Barnes.

Senior Jeweler Jay Wolff was named employee of the year.

The 111-year-old store will close following a dispute among Saks Global, a landlord, and the City of Dallas over a small piece of land.

The upcoming “Area_51” watch sale is a collaboration with heist-out, featuring vintage and modern timepieces with futuristic designs.

The trade organization, which will mark 120 years of service next year, has a refined focus and a new mission statement.

The application period is now open for established and emerging jewelers and metalsmiths to apply to the month-long residency program.

Uc Thí Vo, who co-owned Kim Tin Jewelry in Sacramento with her husband of 40 years, was killed during the November 2024 robbery.

Manashe Sezanayev pleaded guilty to grand larceny and is expected to receive five years’ probation when he’s sentenced in May.

The March birthstone pairs perfectly with hues of Mocha Mousse, Pantone’s Color of the Year for 2025.

Emmanuel Raheb shares strategies to prepare for, publicize, and engage the audience during events on platforms like TikTok and Zoom.

From Doja Cat to Mikey Madison and Selena Gomez, many of this year’s Academy Awards attendees donned drop necklaces.

Originally slated to take effect in April, official U.S. Customs and Border Protection documents now show the implementation date as “TBD.”

The application period for the program is now open for aspiring gemologists around the world.

The work of Indigenous designer Joe Big Mountain, these earrings are similar to the pair Lily Gladstone just wore to the SAG Awards.

A metal detectorist uncovered the ring created in memory of Sir Richard Rainsford, who presided over some of England’s last witch trials.

Fine jewelry consultant and publicist Francesca Simons joins Amanda Gizzi and Natalie Francisco to discuss the trends set to rise this year.