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With the price of natural diamonds in free fall since the summer and luxury consumption sluggish in Europe and the United States, market leader De Beers is focusing on China to mitigate losses.
The lobbying battle that has been raging for several months between players in the natural diamond industry and manufacturers of laboratory stones will come to a head next week at New York City Jewelry Week.
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.
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.
The brand with the iconic crocodile logo denies that it still sells its products in Russia. But, to avoid a drastic decline in sales, one of its partners does so on its behalf.
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.
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.
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.
The Egyptian financier Rachid Mohamed Rachid manages Mayhoola, the Qatari royal investment fund that owns Valentino and Balmain. He also runs his own luxury-focused family office on the side, Alsara Investment Group, which has just lost two high-calibre associates.
As celebrities opt for sober, sustainable accessories during the economic slowdown, hard-hit luxury jewellers are scrambling to find stars willing to wear their most expensive necklaces on the red carpet.
When Paris Fashion Week shows drew to a close on 4 October, the fashion houses started counting their coffers. Equatorial Guinea's presidential family has long held a special place among the small group of those wealthy enough to purchase the clothes and accessories featured on the catwalks.
After Moscow annexed four Ukrainian regions last week, the European Union and the United States sought to tighten the grip of sanctions already in place against Russia, particularly over the trade in luxury goods. But at the eleventh hour, brands that have long prospered from their Russian clientele have managed once more to slip through the cracks in Europe.
The annual meeting of the international certification body was split on whether or not Russian diamonds should be considered as conflict diamonds. The stalemate prevented the organisation from appointing a new secretary general and setting up its secretariat in Gaborone.
Executives from the Russian mining group and the Zimbabwean president reached agreement during the recent Russia-Africa summit on a resumption of the group's mining operations in Zimbabwe. Both parties are under pressure from US sanctions.
Since the start of the war in Ukraine, the European Commission's Freeze and Seize Task Force has frozen over $58bn in assets from individuals and companies sanctioned by the EU. Intelligence Online lifts the lid on how this discreet task force operates.
The West's sanctions on the Russian mining colossus Alrosa, the world's largest diamond producer, are taking a huge toll on Angola, its main partner. That has left the field open for the world's second largest diamond producer, Botswana, to charge ahead.
As the mining industry struggles to take in the impact of the historic sanctions slapped on Russian banks and capital by Washington, Brussels and London, Russia's private and state-owned mining firms on the continent are preparing for when their funds run dry.