FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
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
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
