Diamond Industry Pioneer Louis Glick Passes Away at 102

 

Louis “Louie” Glick, one of New York’s most respected diamond dealers and a pioneering force behind the rise of yellow diamonds, passed away on 10 January at the age of 102.

Born in 1924, Glick entered the diamond trade at just 21 years old, founding the diamond company that would later bear his name. His firm went on to become a De Beers sightholder in 1976, cementing his position among the industry’s elite.

Glick was widely recognised for his visionary role in advancing yellow diamonds into the mainstream market. Together with his business partner Stanley Doppelt, he co-created the StarBurst cut — a modified radiant cut designed specifically to enhance yellow diamond colour. The innovation played a crucial role in increasing demand for fancy yellow diamonds, as documented in GIA’s Gems & Gemology.

Don Spak, who previously worked under Glick, credited him with reshaping industry attitudes toward coloured diamonds.

“Mr Glick believed in the yellow diamond market and helped develop it,” Spak wrote on LinkedIn. “Today, there is not a designer, manufacturer, or retailer who does not carry yellow diamonds in their collections or inventory. The place of yellow diamonds will forever be part of the industry thanks to people like Louis Glick.”

Among his many achievements, Glick was also part owner of one of the world’s most famous yellow diamonds — the extraordinary 407-carat Incomparable.

Former Stuller vice president Stanley Zale reflected fondly on his time working with Glick, describing him as both a brilliant businessman and a deeply principled individual.

“The word mensch doesn’t even begin to do justice to who he was,” Zale. “He was the smartest businessperson I’ve ever known. If you wanted to learn the diamond business, he was the person to learn it from. He led with humility, kindness and respect. It was an honour to have known and worked for him.”

Glick’s influence extended well beyond his own success. His nephew, diamond dealer Daniel Sklarin, noted that Glick’s greatest legacy was the people he helped along the way.

“He was a giant in the diamond business, and at his height there was no one even close,” Sklarin said. “His greatest successes were the many individuals he helped establish their own paths in the diamond trade.”

Louis Glick is survived by his son, Simon Glick, and his daughter, Esther Pluchenik. His legacy as a visionary, mentor and true gentleman of the diamond industry will endure for generations.

Source: DCLA

Angola Diamond Mines Generate $1.8 Billion in Revenue Despite Pricing Pressures

 

Angola’s diamond sector delivered a robust production and sales performance in 2025, generating approximately $1.8 billion in rough-diamond revenue, even as global trading conditions remained challenging.

According to Sodiam, Angola’s state-owned diamond marketing and sales authority, the country exported 17.2 million carats of rough diamonds during the year, representing a 69% increase compared with 2024. Total sales volume rose by 70% to 17.7 million carats, while overall sales value increased by 21% year-on-year, highlighting Angola’s growing capacity to bring rough supply to the international market.

Sodiam attributed the strong volume growth to improved sales management practices, including tighter inventory control and strategies aimed at preventing excess stock accumulation. These measures helped stabilise cash flow and improve market access at a time when demand across parts of the midstream remained under pressure.

Angola’s rough diamond output is sourced primarily from major mining operations, including the Catoca, Luele, and Lulo deposits. In particular, increased production at the Luele mine played a pivotal role in boosting export volumes and strengthening Angola’s position as one of Africa’s leading diamond producers.

“These figures reflect a significant expansion in the country’s capacity to place its diamonds on the international market,” Sodiam said, pointing to operational efficiencies and sustained investment in mining infrastructure.

Despite the strong gains in volume and revenue, average realised prices declined by 29% on a per-carat basis, underscoring ongoing pricing pressure in the global rough diamond market. The price contraction reflects softer demand in certain size and quality categories, as well as continued caution among manufacturers and traders.

For the wider diamond industry, Angola’s 2025 performance illustrates a clear divergence between volume-led growth and price dynamics, reinforcing the importance of disciplined production, transparent sales mechanisms, and accurate grading and valuation standards as market conditions continue to evolve.

Source: DCLA

Petra Recovers Huge 41.82-ct Blue Diamond

 

Petra Diamonds today announced the recovery of a huge 41.82-carat Type IIb blue diamond at its Cullinan Mine, in South Africa.

The UK-based miner described the stone as being of “seemingly exceptional quality in terms of both its colour and clarity”.

The iconic Cullinan mine is known for recovering high-value blue stones.

Last April it sold a 14.76ct blue stone, of “exceptional color and clarity” for $8.2m.

In July 2021 it sold a 39.34-carat blue diamond for $40.18m. The Letlapa Tala collection of five blue diamonds sold in November 2020 for $40.36m.

And a 29.60-carat rough that was cut into the Blue Moon sold for $25.6m in February 2014. It was subsequently auctioned in 2015 for $48.5m to Hong Kong billionaire Joseph Lau, who renamed it the Blue Moon of Josephine.

Petra says it is in the process of analyzing the stone and deciding on a preferred method of the sale.

In October Petra Diamonds announced details of a $25m rights issue to keep the company afloat as it battles falling prices and production, together with rising debt and cash flow difficulties.

Revenue for FY2025 was $206m, down 33 per cent year-on-year from $309m and net debt increased to $264m.

Source: DCLA

De Beer’s 1873 Diamond, Still in Kimberlite

 

An extremely rare relic from the earliest years of the Kimberley diamond rush – a rough stone, still embedded in kimberlite – sold at auction in London for £10,500 ($14,000).

It dates back to the New Rush at Colesberg Kopje (now better known as the Kimberley mine), in South Africa that began when diamonds were first discovered there in 1871.

Furlong Auction House, at the London Diamond Bourse, in Hatton Garden, included it in a collection of “rare and highly desirable items across jewellery history” in its Collectables & Memorabilia auction on 8 January.

“This hand specimen of kimberlite (“blue ground”) contains a visible natural diamond crystal embedded in the matrix and retains its original manuscript presentation label dated May 23rd, 1873,” it said in the lot notes.

“The handwritten note – both on the specimen itself and on a later transcribed slip – reads: “Rev’d W. Thompson – A token of esteem from the Cong’l Church, De Beers New Rush, May 23, 1873. M.M.S., Sec’y.”

It said surviving labelled geological specimens from this period – especially with an exposed diamond crystal – were exceptionally scarce.

Source: DCLA

Global Diamond Industry Shows Signs of Recovery: What Is Driving the Rebound?

 

After three challenging years marked by geopolitical disruption, shifting trade routes, and weakened consumer confidence, the global diamond industry is beginning to stabilise and recover. While price volatility persists in certain segments, demand is gradually rebuilding, particularly across the world’s primary luxury markets. Industry professionals broadly agree that the recovery remains uneven, but the direction is clear: a slow yet meaningful turnaround is underway.

Senior figures within the international jewellery trade point to improving economic sentiment as a key catalyst behind renewed interest in diamonds. Changing consumer behaviour is also playing a central role. Natural diamonds continue to dominate global engagement ring sales, retaining their status as the benchmark for long-term value and emotional significance. However, competition from lab-grown diamonds is intensifying, and the market share gap is narrowing.

In major Western markets, lab-grown diamonds are gaining traction, particularly among younger buyers who place greater emphasis on size, clarity, and price accessibility than on tradition. This generational shift is reshaping purchasing decisions and influencing how value is assessed at the point of sale.

Pricing dynamics underscore this transformation. Over the past year, prices for smaller natural diamondsespecially those under one carat have experienced notable declines. At the same time, lab-grown diamond prices have fallen even further, driven by rapid technological advancements and expanding production capacity. Together, these opposing movements have redefined the competitive landscape, prompting consumers to compare value propositions more closely than ever before.

While challenges remain, the combination of stabilising demand, evolving consumer preferences, and market-driven price realignment suggests the diamond industry has entered the early stages of recovery, with long-term implications for both natural and lab-grown sectors.

Source: DCLA

FOREVERMARK DIAMOND JEWELLERY CELEBRATES THE GRAND OPENING OF DE BEERS GROUP’S LARGEST FLAGSHIP STORE IN MUMBAI

 

Mumbai, 8th January 2026: Forevermark Diamond Jewellery marked a defining milestone in its India journey with the grand opening of the world’s largest flagship store by De Beers Group in Mumbai. Located at Crest Link, Khar West, at the heart of Linking Road, the nearly 5,000 sq. ft. store reflects the brand’s long-term commitment to Indian consumers seeking meaningful, design-led luxury.

The marquee launch was celebrated with an exclusive evening that brought together Mumbai’s most influential tastemakers, jewellery connoisseurs, creative voices, socialites, celebrities, and leading creators. Hosted within the flagship itself, the event offered guests a first glimpse into the brand’s stunning universe, featuring a fashion showcase and immersive experiences that seamlessly blended craftsmanship with contemporary style.

The evening unfolded with enthralling performances including live music and a spectacular fashion showcase, complemented by interactive installations and AI integrations around the Mine to Finger journey, branded photo moments, innovative tarot readings and displays of the new collection, creating an atmosphere of modern luxury and timeless elegance. Guests explored the store’s full portfolio, from refined everyday diamond jewellery to statement and high jewellery pieces, all designed to celebrate life’s most meaningful moments.

Every Forevermark Diamond Jewellery piece is crafted from some of the world’s most beautiful, rare, and responsibly sourced diamonds, each bearing a unique inscription, a promise of authenticity, integrity, and exceptional quality. This philosophy comes to life with the launch of the all-new Forevermark Icon Collection, inspired by the North Star as a symbol of clarity, direction, and confidence. It features versatile everyday diamond jewellery styles, striking statement pieces, and iconic designs across rings, earrings, necklaces, and bracelets.

This collection launch is also accompanied by the brand’s new campaign titled ‘My Guiding Light’ that celebrates four iconic women who represent modern Indian excellence across diverse fields. Manu Bhaker, professional shooter and double Olympic medallist; Diana Penty, actor; Masaba Gupta, designer, actor, and entrepreneur; and Princess Gauravi Kumari of Jaipur, social entrepreneur, each embody individuality, strength, and purpose, sharing their personal stories and perspectives through mini digital videos on Instagram. Together, they reflect the belief that confidence and direction come from within, perfectly aligning with the spirit of the Icon Collection.

All four of them were also in attendance at the event, bringing glamour and gravitas to the evening and reinforcing the store’s position as a landmark destination in Mumbai’s luxury retail landscape. The evening was further elevated by the presence of Mumbai Indian Cricketers Amelia Kerr, Milly Illingworth and Sajeevan Sajana, whose stories of resilience, precision and perseverance echo the enduring strength of natural diamonds.

Commenting on the launch, Sandrine Conseiller, CEO, Brands & Diamond Desirability, De Beers Group, said: “India is central to the future of the natural diamond category. The opening of our largest Forevermark store in Mumbai reflects both the strength of consumer response we are seeing and our long-term confidence in the market. As luxury consumption in India becomes more considered and value-driven, Forevermark is well positioned to build relevance through trust, craftsmanship, and enduring desirability.”

Shweta Harit, Senior Vice President, De Beers Group and CEO, Forevermark, added: “Mumbai marks an important next chapter in Forevermark’s India story. Following the encouraging response to our New Delhi store, this flagship reflects the scale of opportunity ahead. As our largest store globally, it brings together our brand vision, retail ambition, and commitment to the Indian consumer. This opening is also a key step toward our longer-term plan of building a network of 100 Forevermark stores in India by 2030.”

The new Mumbai flagship blends Forevermark’s contemporary international design with local sensibilities. The spacious store offers an immersive experience, showcasing everyday diamond jewellery, statement and high jewellery pieces, and iconic designs in a setting that reflects the brand’s commitment to thoughtful, experience-led luxury.

About Forevermark Diamond Jewellery

Forevermark Diamond Jewellery is the signature diamond jewellery brand from De Beers Group, the world’s leading diamond company, a name synonymous with more than 135 years of expertise and heritage in the world of diamonds. Every Forevermark Diamond Jewellery creation celebrates life’s most meaningful moments, featuring natural diamonds that are beautiful, rare and responsibly sourced. Every Forevermark diamond bears a unique inscription, ensuring authenticity and making each piece deeply personal.

Formed over billions of years deep within the Earth, Forevermark diamonds are hand-selected for their exceptional quality, graded beyond the 4Cs in the pursuit of absolute beauty. Responsibly sourced and carefully cared for along their journey, they reflect the brand’s commitment to creating a positive impact on the people and places its diamonds come from. Expertly crafted by master designers, Forevermark Diamond Jewellery combines modern artistry with timeless elegance. Each piece elevates the brilliance of its diamond while embodying the brand’s enduring values of beauty, rarity, and responsibility.

Holiday Season: Modest Uptick in US Jewelry Sales

Jewelry sales in the US grew by 1.6 per cent during the 2025 holiday period, outpacing last year’s 0.8 per cent rise as consumers showed renewed confidence.

Stable inflation also boosted discretionary spending, as shoppers gravitated toward meaningful gifts over short-lived trends.

But the modest uptick in jewelry sales was still well below the 3.9 per cent recorded by Mastercard SpendingPulse across all retail sectors (except automotive) from November 1 through December 21. The figure for 2024 was 3.1 per cent.

“Consumers demonstrated flexibility and confidence this season, shopping early, leveraging promotions, and investing in meaningful experiences and wish-list items,” said Michelle Meyer, chief economist, Mastercard Economics Institute.

“They also blended online and in-store shopping to find the best deals and maximize convenience.”

Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment, including cash, checks, and credit cards.

Source: DCLA