SourcingMay 11, 2021
Lucara Secures $220M in Financing to Take Mine Underground SourcingMay 20, 2021
De Beers, Alrosa CEOs Say Diamond Jewelry Demand Remains ‘Robust’
But De Beers saw rough diamond sales stall as the COVID-19 crisis in India impacted manufacturing capacity.
An assortment of rough diamonds mined at De Beers’ Gahcho Kue mine in Canada. The company’s rough diamond sales declined in May when compared to April and May 2019. (Photo © De Beers Group, Credit: Ben Perry at Armoury Films)
New York—The heads of the world’s largest diamond mining companies said demand for diamond jewelry remains strong, though De Beers Group noted a decline in rough sales due to the COVID-19 crisis in India.
Preliminary results released by De Beers this week show rough diamond sales totaled $380 million during its fourth sales cycle of the year, May 3-18.
That is down from the third sales cycle of 2021 (revised total of $450 million) and the fourth sales cycle of 2019, when rough diamond sales totaled $415 million.
(The same period in 2020 is not an apt comparison because of COVID-19. With the entire world in lockdown, De Beers combined sales cycles four and five last year and sold only $56 million in rough.)
CEO Bruce Cleaver said demand for diamond jewelry remains “robust” in the United States and China.
However, the brutal second wave of COVID-19 raging in India—the world’s largest diamond manufacturing hub—has impacted manufacturing capacity and, in turn, rough diamond demand during what is typically a slower season anyway, he said.
“Our thoughts are with all those in India as the country navigates the current challenges presented by the pandemic, reminding us that the road ahead remains uncertain and that we must continue to adopt a watchful approach,” he said.
Related stories will be right here …
Preliminary results released by De Beers this week show rough diamond sales totaled $380 million during its fourth sales cycle of the year, May 3-18.
That is down from the third sales cycle of 2021 (revised total of $450 million) and the fourth sales cycle of 2019, when rough diamond sales totaled $415 million.
(The same period in 2020 is not an apt comparison because of COVID-19. With the entire world in lockdown, De Beers combined sales cycles four and five last year and sold only $56 million in rough.)
CEO Bruce Cleaver said demand for diamond jewelry remains “robust” in the United States and China.
However, the brutal second wave of COVID-19 raging in India—the world’s largest diamond manufacturing hub—has impacted manufacturing capacity and, in turn, rough diamond demand during what is typically a slower season anyway, he said.
“Our thoughts are with all those in India as the country navigates the current challenges presented by the pandemic, reminding us that the road ahead remains uncertain and that we must continue to adopt a watchful approach,” he said.
In the month of April, Alrosa’s diamond sales totaled $401 million, including rough sales of $383 million and polished sales of $18 million.
That is up from $357 million in March, including $345 million in rough and $12 million in polished.
And it is a 26 percent increase compared to diamond sales of $318.7 million in April 2019.
(April 2020 diamond sales, rough and polished, totaled only $15.6 million. Alrosa said then that it “virtually stopped selling rough and polished diamonds” due to COVID-19 lockdowns.)
Deputy CEO Evgeny Agureev also described diamond jewelry demand in key markets as “robust” and said stocks in the midstream remain “modest” while rough diamond supplies are low.
Commenting on Alrosa’s performance, he said, “Our April sales were well-supported by the successful results delivered by auctions of high-quality large rough, as well as by strong sales of polished diamonds.”
That is up from $357 million in March, including $345 million in rough and $12 million in polished.
And it is a 26 percent increase compared to diamond sales of $318.7 million in April 2019.
(April 2020 diamond sales, rough and polished, totaled only $15.6 million. Alrosa said then that it “virtually stopped selling rough and polished diamonds” due to COVID-19 lockdowns.)
Deputy CEO Evgeny Agureev also described diamond jewelry demand in key markets as “robust” and said stocks in the midstream remain “modest” while rough diamond supplies are low.
Commenting on Alrosa’s performance, he said, “Our April sales were well-supported by the successful results delivered by auctions of high-quality large rough, as well as by strong sales of polished diamonds.”
More on Sourcing
The Latest
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
FinancialsJun 02, 2026
Signet Jewelers’ Q1 Sales Up 2% As It Focuses on ‘Core Four’ The jewelry retailer is zeroing in on Zales, Jared, Kay Jewelers, and Blue Nile as it looks to create unique brand identities for each.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
