WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
SourcingDec 13, 2017
2017 Global Diamond Report Key Takeaways
The Antwerp World Diamond Centre and Bain & Company said global diamond sales are expected to grow.
Antwerp--The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their seventh annual global diamond report, covering 2016 and the first half of 2017.
The report examines all parts of the diamond pipeline: rough diamond sales and production; the cutting and polishing midstream sector and polished prices; retail sales; and the overall industry outlook for the next decade-plus, including the challenges it faces.
Here are seven key takeaways from the report.
1. Rough diamond sales were up in 2016.
After a tough 2015 in which rough diamond producers accumulated surplus inventories, they were able to sell off a lot of the excess inventory in 2016 to cutters and polishers, increasing revenues by 20 percent.
Overall, rough diamond prices increased in 2017 after decreasing the previous two years.
2. Rough diamond production was flat.
In 2016, miners produced 127 million carats of rough, a number that is in line with the past eight years of production.
Production increased in Canada, as the Gahcho Kué mine officially opened in September 2016 and the Ekati mine increased production, as well as in South Africa, where the Kimberley mine saw increased underground mining.
Russia saw a decline in production due to the closure of the Udachnaya open-pit mine and Zimbabwe stopped production in seven of its nine deposits as the sector consolidated surplus product.
3. The cutting and polishing sector saw profits slip.
Cutters and polishers experienced a slight decrease in year-over-year profits in 2016.
As mentioned previously, the rough diamond industry benefited from the cutting and polishing sector’s increased purchase of surplus rough in 2016; overall, cutters and polishers bought about 20 percent more diamonds (in value terms) than in 2015.
India now accounts for approximately 90 percent of the polished diamond industry by value.
4. Diamond jewelry retail sales stabilized in 2016 and are headed upward.
Global retail sales figures for diamond jewelry in 2016 were stable after a poor 2015.
Retail sales in the United States increased, though not for several major jewelry retailers, which experienced a sales decrease.
In the first quarter of 2017, many major jewelry retailers experienced a sales decline but saw revenues pick up in the second quarter.
The AWDC and Bain & Co. concluded that some retailers are losing sales to online competition. The global diamond report noted that Signet Jewelers’ purchase of JamesAllen.com and private equity groups’ acquisition of Blue Nile highlight the
importance of an omnichannel approach to diamond retail sales.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
Elsewhere, China’s lowest yuan values in a decade led to sales decreases in 2016, though as the currency stabilized in 2017 sales increased. India likewise rebounded in the first half of 2017 after the demonetization crisis of 2016.
Overall, diamond jewelry sales are expected to grow in 2017.
5. Lab-grown diamonds remain a key challenge for the natural diamond industry, but it’s likely the industries can live in harmony.
In the same way the colored gemstone market exists alongside the diamond market, the global diamond report asserted that demand for lab-grown diamonds need not significantly affect the natural diamond industry.
However, it’s important to develop cheaper and more effective detection tools to protect the integrity of the natural diamond supply, the report noted.
6. The diamond industry must step up its marketing efforts to increase consumer demand.
The diamond industry isn’t experiencing the same growth now that it did in the 20th century when “A Diamond is Forever” became one of the most successful marketing slogans of all time.
This century, generic diamond marketing from rough diamond producers has decreased, and retailers and stores are focused on marketing their own private brands.
However, 2017 will see a big increase in marketing budgets to address this issue, with rough diamond companies planning to invest 50 percent more both in generic diamond marketing and marketing for their own brands.
7. Sales are expected to continue to grow beyond 2017.
In the future, disposable income increases of between 1.5 percent and 2.5 percent a year will continue to drive modest diamond sales growth in the U.S.
China is expected to resume growth in 2017 and this should continue in the future due to a rising middle class.
India has the potential to be the fastest-growing diamond jewelry market in the next decade-plus due to an expansion of bridal diamond jewelry and, like China, an increase in the middle-class population.
On the rough side, rough diamond demand should increase at a rate of about 1 to 4 percent each year through 2030. Supply will be flat or increase 1 percent, based on current and planned mining. This includes the reopening of distressed mines and tailing from older mines, if the demand requires it.
More on Sourcing
The Latest
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsOct 29, 2026
Amanda Seyfried Stars In Tiffany & Co.’s Holiday CampaignTiffany & Co.’s latest ambassador makes her debut in its “Love Is a Gift” holiday campaign.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
