Elle Hill

Synthetics will dominate bridal in 2024 and the collapse in 2025 when brides figure out they have been ripped off. Synthetic diamonds will go the way of CZ. Retailers who sell synthetic diamond engagement rings for huge profits will have to answer to brides who see their thousand dollar engagement rings offered for sale at WalMart for hundreds or even tens of dollars. Real natural diamonds will return as the ultimate gift of commitment because they are valuable as is the marital relationship. Millennial women in their thirties are not interested in tinder experiences. They want stable long term relationships and the opportunity to have children with men they love. Men also want loyalty, love and commitment. The synthetic engagement ring trend will blow away as will the jewelers selling them. Marriage is not a one night stand. Engagement rings are not costume jewelry.

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US jewelry sales remained flat in August following a period of growth in July, according to Tenoris. Retailers have seen a surge in inventories recently, particularly in lab-grown jewelry, indicating potential challenges ahead. Natural diamond jewelry sales decreased by 3% year over year, while lab-grown jewelry sales saw a 10% increase despite a 17% decline in average price. This trend warrants attention as it may signify underlying market shifts. Read more: https://lnkd.in/dAPvmDZC

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“𝑰𝒕 𝒎𝒂𝒅𝒆 𝒎𝒆 𝒉𝒂𝒑𝒑𝒚 𝒕𝒐 𝒉𝒂𝒗𝒆 𝒔𝒐𝒎𝒆𝒐𝒏𝒆 𝒓𝒆𝒂𝒄𝒕 𝒍𝒊𝒌𝒆 𝒕𝒉𝒂𝒕 𝒕𝒐 𝒔𝒐𝒎𝒆𝒕𝒉𝒊𝒏𝒈 𝑰 𝒎𝒂𝒅𝒆.” - 𝑴𝒂𝒌𝒐𝒕𝒐 𝑺𝒉𝒊𝒏𝒌𝒂𝒊 The recent actions by Signet Jewelers and De Beers highlight a concerning trend in the diamond industry – a reactive approach that could stifle innovation and ultimately harm consumers. As a lab-grown diamond manufacturer, I believe the future of our industry lies in collaboration and a consumer-centric approach. LGDs offer undeniable benefits: they're sustainable, ethical, and more affordable. Rather than viewing them as a threat, we should embrace them as an opportunity. Let's focus on educating consumers about the unique qualities of both natural and lab-grown diamonds. Let's innovate new products that cater to a wider range of preferences and budgets. Let's foster an environment where both natural and lab-grown diamonds can thrive. The diamond industry is at a crossroads. We can choose a path of competition and fear or a path of collaboration and innovation. The latter will lead to a more vibrant and prosperous future for us all. #diamonds #labgrowndiamonds #sustainability #innovation #collaboration #consumercentric https://lnkd.in/d7YCfd7y

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China's luxury market appears to be facing new challenges as both inbound and outbound traffic recover. High taxes and logistics costs are just two reasons why pricing in the country often cannot compete with that in neighbouring markets such as Japan, or more widely in Europe. Hainan and its status as a tax-free haven helps to ease the taxation issue, but logistical challenges still remina for many brands - and this ongoing issue will only get worse are travel increases and the government works harder to keep spend in the country. This is not just an important moment for other key APAC luxury markets, but also for European markets looking to take advantage of the coming recovery in long-term traffic. So, I must ask once more, if price is an issue for this potentially high-spending shopper group, why is the UK government still not allowing visitors to shop tax-free? Throwing away an opportunity like this is criminal. Read my full thoughts on the situation in China's luxury market here: https://lnkd.in/e-fVYY_f #luxury #china #price

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Many thanks to Jake Garner for reposting the latest data from Edahn Golan. I am a bit confused but based on the presentation that was made by Edahn’s partner at the AGS enclave I got the impression that while demand for LGD may have slowed there is no data saying these natural diamonds are re-gaining lost market share. Perhaps Edahn Golan or Chris Casey can clarify what the numbers are showing. There is no disagreement that LGD prices continue to decline at the wholesale level but from anecdotal comments from retailers offering LGD, the margin is still good. Not surprisingly the anti-LGD contingent is sounding the death knoll for LGD but the early death of LGD may be over exaggerated. I believe that LGD constitute only about 10 % of Signets turnover whereas some independents have LGD make up over 50 percent of their turnover. I agree that LGD may not be growing as fast but I am not sure the bridal business is going back to natural - yet. It may happen. LGD domestic demand is very brisk in India from my sources. China may be slowing down on gold very recently but it is not buying naturals or LGD. Edahn Golan I am aware of your pessimism on where LGD is heading and I don’t disagree but can you share what the Tenoris data is showing ? Should we get a funeral home and find a Church to bury LGD ?

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As we move through 2024, the natural diamond industry continues to face significant challenges. The emergence of synthetic diamonds, heightened sustainability concerns, and global sanctions demand new approaches and fresh perspectives. 💎 Our latest eBook, "The Way Forward in 2024" webinar, offers valuable insights to help you navigate these uncertain times. Read this guide at: https://hubs.ly/Q02KcFX_0 📘✨ #DiamondIndustry #Sustainability #Innovation #Webinar #EbookRelease

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Yellow Gold Is Hot, Diamonds Are Not At Hong Kong Jewelry Trade Show I see this trend in the diamond industry every day. Lab-grown diamonds are reshaping the market. While the wider diamond sales have seen a dip in value due to lower price points, the volume of sales is on the rise, making diamonds more accessible than ever. I remain hopeful that natural diamonds will regain their footing in the high-end market as things stabilize. However, this won’t happen without strategic, targeted marketing. It’s crucial for natural diamond sellers to recognize that the lower and some mid-tier markets have shifted, and it’s unlikely they’ll return. It’s time to adapt and focus on the future rather than dwelling on the past.

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The latest data from Tenoris: US specialty jewelers experienced a 2.1% decrease in jewelry sales, with a 3.5% decline in units sold compared to the previous year, driven by weak demand for natural diamonds. Based on data from over 2,000 US jewelry retailers, the cost of goods sold decreased by 3.2% year over year, contributing to an increase in overall gross margins to 50% in the first half of 2024. Despite this, revenue from finished jewelry and diamond sales softened by 0.6% during the same period, while the average retail price of items sold saw a modest 0.7% increase. For a more detailed view of market trends and performance, check out the full report here: https://lnkd.in/dw-8Gtnf

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Engagement with lab-grown diamonds is a topic close to my heart lately! It's essential to acknowledge that consumer preferences drive the market, not the other way around, regardless of brands' resistance. Gen Z and young consumers are leading the charge towards sustainability and ethical practices. Personally, I cherish and proudly wear both natural and lab-grown diamonds. At the end of the day, they're both real diamonds, so let's embrace them wholeheartedly instead of engaging in unnecessary debate. 💎 #Sustainability #EthicalFashion #Diamonds #LabgrownDiamonds

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De Beers Unveils Retail Diamond Verification Device to Boost Consumer Confidence This User-Friendly Tool Helps Distinguish Natural Diamonds from Lab-Grown Diamonds At the JCK trade show in Las Vegas, the De Beers Group introduced its latest diamond verification instrument to enhance consumer confidence by differentiating natural diamonds from lab-grown diamonds (LGDs) at the retail counter. Innovative Screening Technology This new device, designed for rapid screening of both loose diamonds and those set in jewellery, boasts a zero percent false positive rate, ensuring that no LGD will be mistakenly identified as a natural diamond. Results are delivered within seconds, and the device is affordably priced to support retailers in maintaining their reputation and boosting sales. Consumer Awareness and Education Despite research indicating that nearly half of consumers are unaware that LGDs can be easily detected, this tool underscores De Beers Group's commitment to over two decades of leadership in synthetic diamond detection technology. The device is suitable for use at the retail counter to assist in the sales process or in the back office for inventory checks. A high-quality digital screen allows consumers to see real-time differences between natural diamonds and LGDs, and can also display promotional or educational videos to aid the sales process. Key Executive Insights Sandrine Conseiller, CEO of De Beers Brands, emphasized the emotional significance of diamond purchases and the necessity for consumers to be assured of the authenticity and value of their diamonds. Conseiller highlighted the increasing importance of consumer confidence as the price gap between natural diamonds and LGDs widens. Sarandos Gouvelis, Senior Vice President of Pricing, Product, and Technology Development, expressed excitement about the new device, following the earlier launch of the AMSMicro. He noted that this latest instrument is designed to help retail businesses build trust, reassure customers, and emphasize the unique value of natural diamonds, which are formed over billions of years. Availability and Support The first batch of these devices will be available later this year, with after-sales support and servicing provided within the US. Production will increase to meet the needs of US jewellery retailers. For more information, interested parties can email [email protected].

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Increased supply lowers price which increases competition which lowers price. Synthetic diamond prices will fall to cost plus added value. Adding value to synthetic diamonds is in the domain of fashion jewelry as merchandised by Swarovski. Pandora, and eventually WallMart, Amazon and other retailers that specialize in low cost adornments. Synthetic people that misposition synthetic diamonds as engagement rings will go bankrupt. The gift of commitment requires something of value. Marriage is not a one night stand and engagement rings are not costume jewelry, There is a relationship between real values, real value and real diamonds.

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According to the latest Tenoris data, there was a surge in US jewelry sales. In October, sales increased 7.4%, aligning with retailers' observations of a sales uptick. This growth is particularly crucial as we approach the holiday season, following a stagnant period. The rise in October suggests a potentially stronger business outlook for November and December. Additionally, the boost in October sales has pushed year-to-date sales up 0.9% compared to the previous year. This indicates a positive trend in the jewelry market despite earlier challenges. The increase in sales signifies a potential recovery and optimism for the industry moving forward.

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Now more than ever, consumers demand to know what they are buying when it comes to diamond jewellery. This demand goes well beyond the exquisitely finished final product, and deep into the history of every element in its make-up. As one of the world’s largest diamond companies, certifications are no longer a ‘nice to have’, but a defining benchmark of quality and ethical work practices at HK. · GIA Certification · IGI Certification · HRD Certification · Forevermark Certification Then there are the collaborations with: · iTraceit · Tracr · Natural Diamond Council · Canada Mark Our commitment to sustainable and ethical practices goes so far beyond a tick box on a checklist, and deep into the souls of everyone involved at HK. For us, it is a responsibility that spreads beyond us and our customers, to the entire industry and the positive future of natural diamonds. How are you ensuring best practices in everything you do?

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Mother’s Day sparked a promising trend in the jewelry industry this year. With sales surpassing last year's figures, US consumers are showing signs of increased demand. In May, jewelry sales rose by 1.8% year over year, with a 2% increase in average expenditure per item. The Jewelry Index reflects this positive shift, with a continuous upward trend since March. Notably, sales surged by 5% on May 10-11 compared to the same period in 2023. Retailers are also optimistic about the year ahead, as evidenced by the positive outcomes at recent trade shows in Las Vegas. Exhibitors reported heightened buyer demand, indicating a strong market outlook. However, the demand for loose lab-grown diamonds at JCK was subdued, resulting in notably reduced prices. Read more about the latest trends in jewelry sales from Tenoris: [Link to the article](https://lnkd.in/d7j-upjC) #JewelryIndustry #ConsumerDemand #RetailTrends

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