GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
SourcingAug 07, 2020
Diamond Industry Leader Sees ‘Light at the End of the Tunnel’
In a letter sent out Thursday, WFDB’s Yoram Dvash wrote there are multiple reasons to be optimistic about the state of the diamond industry.
Yoram Dvash, acting president of the World Federation of Diamond Bourses, penned a letter to the diamond industry declaring “there’s a light at the end of the tunnel” after months of declines in diamond trading and sales due to COVID-19.
Antwerp—The diamond market is seeing signs of improvement, giving stakeholders multiple reasons to be optimistic about the holiday season ahead, Yoram Dvash, acting president of the WFDB, wrote in a letter distributed Thursday.
First diagnosed in Wuhan, China in late December, COVID-19 spread worldwide in the first few months of 2020, forcing the closure of businesses and the cancellation of all the major jewelry trade shows as governments everywhere ordered people to stay home.
The first half of the year, Dvash said, was “almost a complete washout,” with diamond imports and exports declining 70-80 percent in some of the world’s major trading hubs.
The industry’s two largest miners, De Beers Group and Alrosa, recorded significant declines in both production and sales in the first half of the year.
RELATED CONTENT: 10 Questions with De Beers CEO Bruce CleaverBut as of early August, the diamond market is “seeing some signs of recovery,” Dvash said, noting the “responsible policy” of De Beers and Alrosa to limit production and allow customers to defer all purchases to later in the year helped, as did the slowdown of manufacturing in Surat.
Diamond prices are stable, mainly due to shortages in various categories.
Import and export levels remain down year-over-year—they were off about 50 percent in Q3—but it’s an upgrade when compared to the first two quarters of the year.
Dvash said he expects import/export figures to keep improving and diamonds to “deliver a strong holiday season.”
In addition, manufacturers’ profit margins have improved and are actually better than they were pre-pandemic, he said, as they are able to buy only the rough needed to meet demand.
On the retail side, diamond jewelry sales in China are “soaring” post-lockdown.
In the United States, Dvash said independent jewelers are reporting steady demand from customers looking to purchase jewelry for major life events, a claim supported by the latest data.
In a column published earlier this week, Sherry Smith shared data from The Edge Retail Academy that showed independents’ sales grew 2.3 percent over June 2019 and as of July 24, were up 10 percent over last July.
Diamond jewelry, she wrote, was the top performer for independents.
“Our industry has proven its resilience by moving to online trading,” Dvash said. “Consumers are also buying more diamonds through e-commerce, with some of the largest luxury brands selling more diamond jewelry online.”
He said the improvement
in retail sales, import/export figures and margins are reasons to be optimistic about the holiday season ahead, which “promises to be a busy one.”
More on Sourcing
The Latest
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
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.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
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.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
