SourcingJul 22, 2021
De Beers’ 2021 Production On Pace With 2019 SourcingAug 11, 2021
Demand for Diamond Jewelry Continues Into Summer Months
And it’s expected to stay that way for the remainder of 2021.
De Beers and Alrosa continue to see rough diamond sales top pre-pandemic levels, fueled by consumer demand for diamond jewelry.
New York—Consumer demand for diamond jewelry is continuing into the summer months, the latest results from the two largest diamond mining companies show.
Between July 12 and 27, De Beers Group’s sixth sales cycle of 2021, rough diamond sales totaled $510 million.
As is the case for most year-over-year comparisons in 2021, comps don’t paint an accurate picture of the market. De Beers’ total in its latest round of rough sales is nearly five times what the company sold at this time last year, $116 million.
Compared with 2019—when sights were their normal week-long duration and the market was in a slump, causing De Beers to allow clients to defer purchases—2021 Cycle 6 sales are up 104 percent, $510 million compared with $250 million.
Strong demand for diamond jewelry in the United States and China continues to fuel rough demand, and De Beers remains optimistic for the remainder of 2021, though it notes that COVID is not over.
CEO Bruce Cleaver said: “With the ongoing strength in consumer sales of diamond jewelry, the outlook remains positive for the second half of the year, subject to the risks that the pandemic continues to present across the globe.”
Related stories will be right here …
Between July 12 and 27, De Beers Group’s sixth sales cycle of 2021, rough diamond sales totaled $510 million.
As is the case for most year-over-year comparisons in 2021, comps don’t paint an accurate picture of the market. De Beers’ total in its latest round of rough sales is nearly five times what the company sold at this time last year, $116 million.
Compared with 2019—when sights were their normal week-long duration and the market was in a slump, causing De Beers to allow clients to defer purchases—2021 Cycle 6 sales are up 104 percent, $510 million compared with $250 million.
Strong demand for diamond jewelry in the United States and China continues to fuel rough demand, and De Beers remains optimistic for the remainder of 2021, though it notes that COVID is not over.
CEO Bruce Cleaver said: “With the ongoing strength in consumer sales of diamond jewelry, the outlook remains positive for the second half of the year, subject to the risks that the pandemic continues to present across the globe.”
Alrosa Deputy CEO Evgeny Agureev also noted that jewelry demand remained robust in July, following a first half of the year in which, according to Alrosa data, it rose an average of 35 percent in the U.S. compared with the first half of 2019 (pre-COVID).
Alrosa’s July sales totaled $334 million, $318 million in rough and $15 million polished. That is up from $35.8 million in July 2020, and $170.5 million in July 2019.
Year-to-date, the miner’s rough and polished sales have reached $2.67 billion, up from $1.03 billion in 2020 and $1.98 billion in 2019.
“Heading into the second half of the year, the retailers note continued optimism among consumers and their increased interest in diamond jewelry,” Agureev said.
“This continues to support strong demand for rough diamonds from the midstream, which faced supply shortages as early as May-June 2021, when miners saw their inventories drop to record-low levels.”
More on Sourcing
The Latest
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
Weekly QuizDec 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sThe nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo DriveGearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes The diamond cut grade is now available for marquise- and pear-shaped diamonds.
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award RecipientsDDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
SourcingDec 12, 2024
De Beers Announces 2024 ‘Shining Light’ Award WinnersThe competition awarded 12 designers, each from a country where De Beers recovers diamonds, with business support and tuition assistance.
CollectionsDec 12, 2024
The Jared Atelier x Vera Wang Collection Emphasizes EleganceThe high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.
