CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
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
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
Weekly QuizOct 02, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsOct 06, 2025
The ‘Rolex That Made Rolex’ Heads to Auction at Sotheby’s The “Mercedes Gleitze Rolex Oyster,” named for the British endurance swimmer who made it famous, will go up for sale next month.
GradingOct 06, 2025
GIA India Names Former De Beers Exec as New Managing DirectorAmit Pratihari was previously the managing director of De Beers India and Forevermark India.
TrendsOct 03, 2025
Selena Gomez, Benny Blanco Tie the Knot Wearing Diamonds, White MetalsGomez’s jewelry included Tiffany & Co. drop-style earrings while Blanco stacked diamonds from Jacob & Co. on his wrist.
GradingOct 03, 2025
Grading Lab HRD Antwerp Names New CEODiamond industry banking veteran Paul De Wachter will take on the role in January 2026.
TrendsOct 03, 2025
Piece of the Week: Kallati’s Pink Sapphire RingTaylor Swift flaunts an Elizabeth Taylor-esque gemstone in promo for her new album, “The Life of a Showgirl.”
CollectionsOct 02, 2025
Boucheron Debuts Cuffs Crafted With 3D-Printed SandIts “Quantre Sand” capsule was made using a 3D sand printing technique borrowed from the automotive and aeronautics industries.
CrimeOct 02, 2025
$1M in Jewelry Stolen in Northern California Smash and Grab Four individuals have been charged in the “takeover-style” robbery of Heller Jewelers last month, and additional charges are expected.
MajorsOct 02, 2025
Neil Lane Jewelry Exhibition Coming to Toledo Museum of Art“Radiance and Reverie” will showcase more than 150 jewels from Lane’s personal collection by Tiffany & Co., Cartier, and more.
TrendsOct 02, 2025
Amanda’s Style File: October’s Colorful ShowThe month’s birthstones, tourmaline and opal, complement the palette of autumn.
ColumnistsOct 01, 2025
Peter Smith: Why Vendor Success Starts With Self-ReflectionSmith shares the importance of looking at your company with openness and honesty to identify opportunities you may be missing.
EditorsOct 01, 2025
Playing Favorites: The Best Jewelry From VicenzaoroAssociate Editor Natalie Francisco visited Italy to spot jewelry trends at the September Vicenzaoro show and share her top finds.
SurveysOct 01, 2025
Consumer Confidence Hits 5-Month Low in September Respondents were concerned about job availability and rising prices.
SourcingOct 01, 2025
Gemfields’ H1 Revenue Falls 47%Its latest interim financials revealed a challenging first half due in part to production troubles at its mines.
MajorsSep 30, 2025
Pandora CEO to Retire in 2026, Hand Reins to CMO Alexander Lacik has led Pandora since 2019. Berta de Pablos-Barbier will succeed him, the first woman to head the company.
CrimeSep 30, 2025
2 Suspects Charged in $300K Sleight-of-Hand Jewelry Store ScamTwo men allegedly used counterfeit bills to purchase luxury watches and jewelry from a North Carolina jeweler.
CollectionsSep 30, 2025
Billie Eilish, Finneas Partner with John HardyThe “Lovestruck” collection, designed with the Academy and Grammy award-winning siblings, is the brand’s first lab-grown diamond offering.
IndependentsSep 30, 2025
Spinelli Kilcollin Announces Residency in DallasThe brand, celebrating its 15th anniversary, has popped up at Market, a luxury fashion destination in Highland Park Village.
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
TrendsSep 29, 2025
Amanda’s Style File: Ear FocusMove over neck mess, the ear story is the way to make a layering statement today.
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in CanadaThe New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.
MajorsSep 29, 2025
Overnight Releases New Bridal CatalogThe “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.
