CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
MajorsApr 18, 2018
De Beers Will No Longer Sell Diamonds to Gitanjali
The diamond miner and marketer has dropped the company as a sightholder.
London--De Beers will no longer sell diamonds to Gitanjali Gems, the retailer and manufacturer headed by Mehul Choksi, who is implicated alongside his nephew Nirav Modi in defrauding an Indian bank out of billions.
A De Beers spokesperson confirmed to National Jeweler Tuesday that Gitanjali’s sightholder status was dropped in February.
The company declined to say why, stating only: “While we don’t comment on individual businesses, De Beers requires all sightholders to meet rigorous financial and ethical compliance criteria.”
Both Choksi and Modi have denied being involved in obtaining fraudulent loans totaling $1.8 billion from Punjab National Bank and never paying them back. They are currently wanted in India.
Both also have U.S. ties.
Modi, through a complicated web of companies, is the owner of Firestar Diamond/Fantasy Inc. and diamond jewelry brand A. Jaffe, both of which are in Chapter 11 bankruptcy right now.
Choksi’s Gitanjali owns a sizable jewelry store chain in the United States that’s based in Austin, Texas, and operates under the corporate name Samuels Jewelers Inc.
RELATED CONTENT: Nirav Modi Case is ‘Another Nail in the Coffin’Samuels did not respond to calls and emails asking how Gitanjali’s loss of sightholder status will impact its business.
In an interview published in early March, CEO Farhad Wadia told JCKOnline.com that it was “business as usual” and that the company has an “arm’s length” relationship with parent firm Gitanjali.
Wadia’s claim seems to contradict earlier interviews given by both Wadia himself and Gitanjali executives touting the benefits of being a “vertically integrated” company, meaning the retailer has a direct line of supply for diamonds and jewelry manufacturing via their ownership by Gitanjali.
Samuels Jewelers Inc. operates Samuels Jewelers, Samuels Diamonds, Rogers Jewelers, Andrews Jewelers and Schubach Jewelers stores.
In National Jeweler’s latest State of the Majors report, the retailer ranked No. 32 on the list of $100 Million Supersellers, with an estimated $156 million in jewelry and watch sales in 2016.
The retailer tied with Tiffany & Co. at No. 7 on the list of largest specialty jewelers in North America (by store count) with a total of 119 stores as of the end of 2016, though recent reports indicate its store count is now at 108.
More on Majors
The Latest
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
