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Jewellery sector's quest for clarity
Russia is one of the world's leading diamond producers. Amid the war in Ukraine, the jewellery industry has been struggling to find alternatives to Russian stones. © Studio Pachamama

Running story
Jewellery sector's quest for clarity

With Russia a leading producer, diamonds have seen their prices plummet since the start of the war in Ukraine. The industry, highly concentrated around a few major players, has been experimenting with synthetic stones and other gems, but is struggling to find a clear-cut solution. The real issue is traceability, which is currently impossible to implement.

Jewellery sector's quest for clarity
Russia is one of the world's leading diamond producers. Amid the war in Ukraine, the jewellery industry has been struggling to find alternatives to Russian stones. © Studio Pachamama

France
Without Chanel support, France's only diamond laboratory disappears

The Diam Concept synthetic diamond company, faced with international competition and prevarication by jewellery houses, has just been wound up. Chanel had backed it for a while but in the end pulled the plug on the struggling firm.

LogoSubscribers only Entourage 19.12.2024

Spotlight | France
Money laundering: French finance ministry puts luxury sector under surveillance

After focusing first on the watch trade, French authorities are now cracking down on the luxury sector as a whole. They are taking aim at everything from jewellery to leather and second-hand goods, with in-depth investigations and heavy sanctions.

France's consumer affairs and fraud watchdog, the DGCCRF, conducted a survey of the luxury goods sector between October 2022 and June 2023.
LogoSubscribers only Entourage 12.09.2024
France's consumer affairs and fraud watchdog, the DGCCRF, conducted a survey of the luxury goods sector between October 2022 and June 2023.

France
Chanel calls quits on French lab-grown diamond producer

Parisian synthetic diamond producer Diam Concept went into receivership in May and is currently on the hunt for investors. Chanel, which invested in the company in 2020, has decided to jump ship.

LogoSubscribers only Entourage 18.07.2024

United States
Ralph Lauren CFO lands golden parachute before moving on to pastures new

Jane Nielsen, a key management figure at Ralph Lauren, negotiated a particularly generous exit package before announcing her departure from the company on 24

LogoSubscribers only Houses 30.05.2024

Europe, United States
Diamond industry goes all out in campaign to crush synthetic stones

Laboratory stones, seen by the diamond industry as a huge threat, are being quietly kept out of the major trade fairs. The move is part of a wider lobbying campaign by diamond producers against their lab-grown rivals.

Free access Entourage 30.05.2024

France, UAE
Europe's stolen gems: The Dubai connection

The difficulty of tracing the provenance of precious stones comes back to haunt jewellers when they get robbed, as was the case just days ago for Harry Winston and back in 2021 for Chaumet.

LogoSubscribers only Houses 23.05.2024

Russia, Ukraine, United States
Is Ukraine a gateway for Russian stones?

The Ukrainian jewellery market is riding high on its position as an alternative to Russia's dominance in the sector, fast-tracking its access to global trading hubs. But the provenance of Ukraine's raw materials, especially diamonds, remains opaque.

LogoSubscribers only Entourage 07.12.2023

France, Russia, United States
Spectre of Russian sanctions looms over synthetic gem sector

Demand is raging for synthetic diamonds, with every luxury house leaping on the bandwagon. But the artificial stones industry fears that sanctions against Russia - one of the sector's leading producers - could disrupt its momentum.

LogoSubscribers only Entourage 21.09.2023

Africa, Belgium, China
Antwerp diamond traders cut fresh deals to bypass EU sanctions

In search of an alternative to Russian diamonds, whose trade the EU has been trying to sanction for a year, Antwerp, one of the world's three stone-trading centres, is trying to bring back Zimbabwean diamonds, which have long been under sanctions.

Free access Entourage 27.07.2023

Russia
Luxury jewellers seek alternative solutions now that Russian diamonds are off limits

Unable to buy Russian diamonds due to US and EU sanctions, jewellery companies are looking for other options to help them play by the rules and polish up their reputations with clients.

LogoSubscribers only Houses 29.06.2023

Document | Russia, United States
De Beers and Russian diamonds: Following up on our revelations

Since Glitz.paris disclosed that De Beers sold Russian stones in the United States in 2022, the diamond giant has fiercely denied it - letting slip some revealing information in the process.

LogoSubscribers only Houses 08.06.2023

Russia, United States
De Beers sold Russian diamonds in US despite sanctions after Ukraine invasion

De Beers claims to source its diamonds only from Africa and Canada, but last year it sold stones of Russian origin in the United States. The firm also bought diamonds in 2022 from the Russian firm Alrosa via an Israeli company.

LogoSubscribers only Houses 25.05.2023

Russia, United States
Looming Russian diamonds' embargo fails to take shine off sales of its coloured stones

US diplomacy has been pushing to get the G7, which is about to meet in Japan, to discuss a sanctions plan on Russian diamonds. Whatever the outcome of these talks, one thing is certain: emeralds mined for Moscow will continue to be sold freely.

Free access Entourage 18.05.2023

Spotlight | France, Switzerland
Madagascar sapphire mine exposes jewellery firms' hollow 'ethical' claims

All the luxury groups, from Richemont to LVMH, have made traceability commitments for their coloured stone jewellery. But the realities of a market concentrated in a handful of countries make credible certification impossible. Glitz.paris looks into the situation in Madagascar, the epicentre of the sapphire business.

In the absence of a proper traceability system, jewellers have come up with charters of good conduct to try to respond to their customers' concerns.
LogoSubscribers only Houses 11.05.2023
In the absence of a proper traceability system, jewellers have come up with charters of good conduct to try to respond to their customers' concerns.

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Russia is one of the world's leading diamond producers. Amid the war in Ukraine, the jewellery industry has been struggling to find alternatives to Russian stones.

Running story
Jewellery sector's quest for clarity

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