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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

In Focus
Diamond industry at odds over funding its global lobbying and advertising

The Natural Diamond Council, set up to counter the growing threat posed by lab-grown stones, is short of cash. It wants to impose a levy on rough diamonds to pay for its expensive advertising campaigns, but disagreements over who should foot the bill are delaying implementation.

De Beers has pledged to stump up $8m to help the Natural Diamond Council lobby against lab-grown stones.
LogoSubscribers only Europe, United States Entourage 22.01.2026
De Beers has pledged to stump up $8m to help the Natural Diamond Council lobby against lab-grown stones.

Why lab-grown diamonds no longer cut it for Vever

For more than a decade, the French company had eschewed natural stones entirely on ethical and ecological grounds. But market forces have now led to a U-turn.

LogoSubscribers only France Houses 23.09.2025

@Databutmakeitfashion joins forces with natural diamond lobby

A leading Instagram account in the fashion world put out a post reproducing point by point arguments developed by defenders of mined diamonds.

Screen captures on 20/05/2025 of Databutmakeitfashion’s Instagram account.
LogoSubscribers only United States Entourage 22.05.2025
Screen captures on 20/05/2025 of Databutmakeitfashion’s Instagram account.

Front Row
The double-faceted game of the Parikh diamond dynasty

Although the natural diamond giant De Beers recently announced it is discontinuing its Lightbox synthetic jewellery range, several diamond merchants are continuing to invest in the production of artificial stones. They include the Parikh family, who in various guises have a foot in both camps, trading in natural gems while also producing synthetic diamonds.

The Parikh natural diamond dynasty is increasingly investing in the synthetic stones market.
LogoSubscribers only Belgium, India Families 15.05.2025
The Parikh natural diamond dynasty is increasingly investing in the synthetic stones market.

Tasaki pearls to get showcase on Rue de la Paix

The Japanese jewellery maker, which was bought by Asian equity funds last December and is in the select circle of jewellers supplied by De Beers, is preparing to open its first own-brand boutique in Paris.

LogoSubscribers only France, Japan Houses 27.03.2025

Tiffany & Co plans entire floor of private rooms on the Champs-Élysées

The jeweller's future flagship store on the iconic Paris avenue will feature no fewer than five dedicated rooms designed to cater to its high-spending clients.

LogoSubscribers only France Houses 13.02.2025

Brown diamonds behind Diam Concept lab closure

France's one and only manufacturer of laboratory diamonds shut up shop on 11 December. The firm's failure highlights the challenges of meeting jewellers' strict requirements for flawless synthetic stones.

LogoSubscribers only France Entourage 23.01.2025

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 France Entourage 19.12.2024

Spotlight
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 France 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.

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 France Entourage 18.07.2024

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 United States Houses 30.05.2024

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 Europe, United States Entourage 30.05.2024

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 France, UAE Houses 23.05.2024

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 Russia, Ukraine, United States Entourage 07.12.2023

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 France, Russia, United States Entourage 21.09.2023

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 Africa, Belgium, China Entourage 27.07.2023

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 Russia Houses 29.06.2023

Document
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 Russia, United States Houses 08.06.2023

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 Russia, United States Houses 25.05.2023

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 Russia, United States Entourage 18.05.2023

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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.

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