Russian sanctions impact Indian diamond workers

An estimated 250,000 members of India’s diamond cutting and polishing industry have been placed on unpaid leave for two weeks. The work moratorium was the result of a major supply disruption in Surat, the Indian center of the diamond trade. The ongoing economic sanctions against the Russian Mining company Alrosa, installed by the US, EU … Read more

Jeweller’s conference a raging success

Nationwide Jewelers’ celebrated 30 years of business with a three-day conference which has received rave reviews from attendees. This year’s conference was titled ‘Time Out-Time to Shine’ and ran from 13-15 May in Brisbane. More than 140 members representing 88 stores attended while a record 49 suppliers attended the buying conference with exhibitions spread across … Read more

New blockchain digital provenance platform launched

De Beers Group has launched a blockchain-backed diamond sourcing platform. The program is named Tracr and aims to offer improved trust in diamond provenance for consumers and traders, and will also be used to identify potential inefficiencies within the value chain. The term ‘blockchain’ is used to describe a distributed database that is shared among … Read more

Pandora anticipates continued growth following Q1

Following the release of 2022’s first quarter data, the Pandora Group has revised its forecast and is now predicting sales growth of between 4-6 per cent for the year. Pandora reported record revenue in Q1, rising 21 per cent on a year-on-year ‘organic basis’, a similar metric to total store sales. The company generated total … Read more

Nationwide Jewellers’ conference booked out

The upcoming Nationwide Jewelers annual conference is officially booked out, with the theme of this year’s event ‘Time Out – Time to Shine’. The conference is running across three days in Brisbane, beginning on 13 May and concluding on 15 May. Nationwide Jewelers membership manager Erin Keller received industry feedback in the lead-up to the … Read more

Fresh charges for disgraced Indian jeweller

India’s Central Bureau of Investigation (CBI) has confirmed additional charges of fraud have been laid against fugitive businessman Mehul Choksi. The 62-year-old Choksi is the former chairman of the now-defunct jewelery retail chain Gitanjali Group, the leadership of which he took over in 1985 from his father. Choksi, along with his Nephew Nirav Modi, is … Read more

Gemfields, Fabergé and Responsible Jewellery Council

It’s no secret that the Responsible Jewelery Council (RJC) has faced a barrage of Criticism since the beginning of the Russia-Ukraine war. The uproar emanated from the RJC’s perceived lack of action on Alrosa, one of its high-profile members and which is 33 per cent owned by the Russian government. Russia’s Invasion of Ukraine began … Read more

US imposes crippling sanctions on Alrosa

In what could be a significant Blow to Russia, the US has designated a state-run Mining company Alrosa in its Specially Designated Nationals (SDN) roster, which increases sanctions that carry substantial economic impacts on Russian companies. The order, issued by the Department of the Treasury’s Office for Assets Control, came on top of prevailing sanctions … Read more

Major members continue to abandon RJC

The Responsible Jewelery Council (RJC) is suffering a continued Exodus of major members with luxury watchmaker Watches of Switzerland and diamond Mining company Alrosa exiting the organization. On Thursday, Watches of Switzerland released a statement expressing dismay over the RJC’s inaction following the Russian Invasion of Ukraine in late February. “The Watches of Switzerland Group … Read more

Is This The Era Of Social Entertainment For Sales? Experts Tell All

Over the last few years, the world of social media has undergone a drastic Transformation. This … [+] Evolution is not just about the content itself, but fundamentally about how it is delivered. Getty Over the last few years, the world of social media has undergone a drastic Transformation. This Evolution is not just about … Read more