Natural Diamond Council makes marketing push

The Diamond Producers’ Association (DPA), established only five years ago by a coalition of diamond miners including De Beers and Alrosa, has relaunched as the Natural Diamond Council.

In addition to continuing to advertise natural diamonds as the DPA did previously, the council is also hoping to reach younger consumers by producing catchy editorial content on trends and innovations in diamond jewelry and the heritage of natural diamonds.

The rebranding comes at a difficult time for the diamond sector, with the economic fallout from the coronavirus pandemic depressing demand and prices.

“The current economic climate creates unprecedented challenges for the luxury industry. But, as the climate improves, natural diamonds will connect stronger than ever before,” said Natural Diamond Council CEO, David Kellie in a release. “Consumers will have a greater respect for all things natural and seek brands that have an honest mission to be truly sustainable. They’ll be purchasing luxury goods with a greater meaning, particularly those celebrating connections between friends and loved ones. We need to speak to the younger audience in a different way and we’re delighted to have brought in a number of partners that will contribute to the new world of natural diamonds we’re creating.”

The website will offer coverage under six categories: Epic Diamonds, Hollywood & Pop Culture, Love & Diamonds, Style & Innovation, Diamonds 101 and Inside the Diamond World. The council has also started a new, biannual trend report written by style experts, forecasting diamond jewelry trends, and incorporating styling tips.

In addition, the DPA’s Real is Rare, Real is a Diamond campaign will be replaced with the council’s new branding: “Only Natural Diamonds” (OND).

“Our new digital platforms will inspire and inform consumers globally about the values and heritage of natural diamonds, as well as promoting the significant innovation happening throughout the world of diamond jewelry,” added NDC’s managing director, Kristina Buckley Kayel. “The younger audience is clearly engaged and inspired when we present ourselves with authority in the digital world. It’s our aim to be number one across all digital platforms in our industry and our ambitious plans reflect these goals.”

The Natural Diamond Council will also aim to educate consumers on the sustainability and ethical practices of diamond producers, as well as everything they need to know when buying diamond jewelry.

In a release, the organization said the relaunch reflects the collective commitment of its members, Alrosa, De Beers, Dominion Diamonds, Lucara Diamond, Petra Diamonds, Murowa Diamonds, and Rio Tinto, to the growth of the industry beyond the current economic crisis.

“Our mission is to educate consumers on the industry and positive social contribution diamonds make to the world today,” said Stephen Lussier, Chairman of the NDC. “Our members are committed to these goals and the launch of the NDC marks an exciting step on this path.”

Visit www.naturaldiamonds.com for more information.

Source: DCLA

Natural Diamond Council makes marketing push

The Diamond Producers’ Association (DPA), established only five years ago by a coalition of diamond miners including De Beers and Alrosa, has relaunched as the Natural Diamond Council.

In addition to continuing to advertise natural diamonds as the DPA did previously, the council is also hoping to reach younger consumers by producing catchy editorial content on trends and innovations in diamond jewelry and the heritage of natural diamonds.

The rebranding comes at a difficult time for the diamond sector, with the economic fallout from the coronavirus pandemic depressing demand and prices.

“The current economic climate creates unprecedented challenges for the luxury industry. But, as the climate improves, natural diamonds will connect stronger than ever before,” said Natural Diamond Council CEO, David Kellie in a release. “Consumers will have a greater respect for all things natural and seek brands that have an honest mission to be truly sustainable. They’ll be purchasing luxury goods with a greater meaning, particularly those celebrating connections between friends and loved ones. We need to speak to the younger audience in a different way and we’re delighted to have brought in a number of partners that will contribute to the new world of natural diamonds we’re creating.”

The website will offer coverage under six categories: Epic Diamonds, Hollywood & Pop Culture, Love & Diamonds, Style & Innovation, Diamonds 101 and Inside the Diamond World. The council has also started a new, biannual trend report written by style experts, forecasting diamond jewelry trends, and incorporating styling tips.

In addition, the DPA’s Real is Rare, Real is a Diamond campaign will be replaced with the council’s new branding: “Only Natural Diamonds” (OND).

“Our new digital platforms will inspire and inform consumers globally about the values and heritage of natural diamonds, as well as promoting the significant innovation happening throughout the world of diamond jewelry,” added NDC’s managing director, Kristina Buckley Kayel. “The younger audience is clearly engaged and inspired when we present ourselves with authority in the digital world. It’s our aim to be number one across all digital platforms in our industry and our ambitious plans reflect these goals.”

The Natural Diamond Council will also aim to educate consumers on the sustainability and ethical practices of diamond producers, as well as everything they need to know when buying diamond jewelry.

In a release, the organization said the relaunch reflects the collective commitment of its members, Alrosa, De Beers, Dominion Diamonds, Lucara Diamond, Petra Diamonds, Murowa Diamonds, and Rio Tinto, to the growth of the industry beyond the current economic crisis.

“Our mission is to educate consumers on the industry and positive social contribution diamonds make to the world today,” said Stephen Lussier, Chairman of the NDC. “Our members are committed to these goals and the launch of the NDC marks an exciting step on this path.”

Visit www.naturaldiamonds.com for more information.

Source: DCLA

Tiffany Reports Recovery in China Sales

Tiffany & Co said its jewelry business is rebounding in China after the coronavirus pandemic and its merger with French luxury retailer LVMH is clearing regulatory hurdles.

The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter as the pandemic shuttered shopping malls and stores across the globe. Yet CEO Alessandro Bogliolo pointed to China as “indicative that a robust recovery is underway.”

TIF swung to a net loss of $64.6 million, or 53 cents a share, from earnings of $125 million, or $1.03 a share, a year ago. Revenue fell 45% to $555.5 million.

Analysts were expecting Tiffany to earn three cents a share on sales of $701 million, but the coronavirus pandemic has made comparisons with estimates difficult to make.

The company has 324 stores worldwide. About 70% of the stores were closed as of April 30, when the fiscal first quarter ended.

Tiffany said its jewelry sales dropped off significantly in the three-month period. Engagement jewelry declined by nearly 50%, more than any other category.

The company said its focus on expanding business in China, investing in its websites and adding new jewelry products prior to the pandemic have made the company more resilient.

In China, same-store sales were down about 85% and 15% during the first and second months of the quarter, but have picked up again in April and May.

Shares galloped $2.53, or 2.1%, to $124.71 early Tuesday.

Source: DCLA

Tiffany Reports Recovery in China Sales

Tiffany & Co said its jewelry business is rebounding in China after the coronavirus pandemic and its merger with French luxury retailer LVMH is clearing regulatory hurdles.

The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter as the pandemic shuttered shopping malls and stores across the globe. Yet CEO Alessandro Bogliolo pointed to China as “indicative that a robust recovery is underway.”

TIF swung to a net loss of $64.6 million, or 53 cents a share, from earnings of $125 million, or $1.03 a share, a year ago. Revenue fell 45% to $555.5 million.

Analysts were expecting Tiffany to earn three cents a share on sales of $701 million, but the coronavirus pandemic has made comparisons with estimates difficult to make.

The company has 324 stores worldwide. About 70% of the stores were closed as of April 30, when the fiscal first quarter ended.

Tiffany said its jewelry sales dropped off significantly in the three-month period. Engagement jewelry declined by nearly 50%, more than any other category.

The company said its focus on expanding business in China, investing in its websites and adding new jewelry products prior to the pandemic have made the company more resilient.

In China, same-store sales were down about 85% and 15% during the first and second months of the quarter, but have picked up again in April and May.

Shares galloped $2.53, or 2.1%, to $124.71 early Tuesday.

Source: DCLA

WDC Elects Feriel Zerouki as President from 2022

De Beers executive Feriel Zerouki will succeed Edward Asscher as president of the World Diamond Council (WDC) in 2022, the organization said Monday.

Zerouki, De Beers’ senior vice president of international relations and ethical initiatives, will become the first woman to head the WDC, which works to keep conflict diamonds out of the supply chain. Its board confirmed her election as vice president during a virtual meeting on Friday; according to WDC rules, she will automatically become president when Asscher’s current term ends two years from now.

Asscher, president of the Amsterdam-based Royal Asscher Diamond Company, took over at the WDC on Friday, stepping up from his previous position as vice president. He replaces Stephane Fischler, and will be serving his second term at the helm, after holding the role from 2014 to 2016.

The WDC board also confirmed the reelection of Ronnie Vanderlinden, president of the International Diamond Manufacturers Association, as treasurer, and the appointment of Udi Sheintal as secretary.

Source: DCLA

WDC Elects Feriel Zerouki as President from 2022

De Beers executive Feriel Zerouki will succeed Edward Asscher as president of the World Diamond Council (WDC) in 2022, the organization said Monday.

Zerouki, De Beers’ senior vice president of international relations and ethical initiatives, will become the first woman to head the WDC, which works to keep conflict diamonds out of the supply chain. Its board confirmed her election as vice president during a virtual meeting on Friday; according to WDC rules, she will automatically become president when Asscher’s current term ends two years from now.

Asscher, president of the Amsterdam-based Royal Asscher Diamond Company, took over at the WDC on Friday, stepping up from his previous position as vice president. He replaces Stephane Fischler, and will be serving his second term at the helm, after holding the role from 2014 to 2016.

The WDC board also confirmed the reelection of Ronnie Vanderlinden, president of the International Diamond Manufacturers Association, as treasurer, and the appointment of Udi Sheintal as secretary.

Source: DCLA

Alrosa Sells 102 of 800 Rough Diamonds at Biggest Online Sale

Alrosa’s long-term clients bought 102 of more than 800 large rough diamonds offered in the company’s biggest ever digital tender.

The remaining stones will now be made available to other customers to select from 5-10 carats batches.
For the first time, the Russian state-owned miner sold diamonds online from boxes, piece by piece, in response to COVID-19 restrictions.
It provided prospective buyers with 3D-scans data detailing each stone’s external shape, internal inclusions, color and fluorescence during the first round of the online sale, from 15 to 29 May.
The remaining stones will now be offered in a second digital tender which starts today.
Evgeny Agureev, deputy CEO, said: “The results of the digital tender’s first round show that demand for rough diamonds persists at the market, and our clients are ready to buy diamonds through the online channel.
“To the second round of the digital tender, we have additionally invited our spot and auctions partner companies.”
It has been holding pilot digital tenders with a small number of stones since October 2019, but has responded to the COVID-19 pandemic by making many more diamonds available.making many more diamonds available.

Alrosa is allowing approved buyers to defer all purchases at its contract sale later this month. Profits slumped last year, the company has revised down its 2020 production forecasts and has suspended work at some of its less-profitable mines.

Source: DCLA