International News
China’s jewellery market recovering faster than other luxury goods : Bain Report
Jewellery demand in China slowed its rate of decline in 2025, emerging as one of the most resilient segments in a personal luxury market that is still contracting but beginning to find its footing, according to Bain & Company.
China’s mainland personal luxury goods market contracted 3-5% in 2025, yet jewellery posted a far milder decline of just 0-5%, sharply improving from the 15-20% drop recorded a year earlier. The narrowing fall positions jewellery among the most resilient categories in the sector.
The recovery reflects steady consumer interest even amid cautious spending. Buyers increasingly prioritized enduring value and quality, traits closely associated with jewellery purchases, helping the segment hold ground while discretionary categories weakened.
Domestic buying trends further supported sales. About 65% of luxury purchases took place on the mainland, as overseas shopping softened due to smaller price gaps and reduced travel. This shift channeled spending back to local retailers and brands, benefiting jewellery counters in particular.
Other categories recorded mixed results. Beauty edged up, watches struggled, and second-hand luxury expanded 15-20%, though jewellery’s resale share remained modest.  Bain described the year as a recalibration phase, with jewellery leading the early signs of recovery and setting a steadier tone for the market heading into 2026.
Appointment
Maryam Al Hashemi appointed 2026 Chair of the Kimberley Process Committee on Participation and Chairmanship
The Kimberley Process (KP) has announced the appointment of Maryam Al Hashemi as the 2026 Chair of its Committee on Participation and Chairmanship (CPC). A highly respected industry leader and KP veteran, Al Hashemi brings extensive expertise to this critical role. India will chair the KP in 2026, the third time it has chaired the body overall, with commitments to building consumer confidence, accelerating digital traceability and advancing data-driven compliance.
Currently serving as the Senior Director of Precious Stones and Metals at DMCC and the UAE KP Director, Al Hashemi has been instrumental in positioning Dubai as the world’s leading diamond trading hub. Under her leadership, Dubai’s rough and polished diamond trade has exceeded one billion carats in rough and polished over the past five years. She also oversees the Dubai Diamond Exchange (DDE), the world’s largest diamond trading platform with over 1,365 members, and spearheads key industry events such as the Dubai Diamond Conference and the Dubai Precious Metals Conference.
With a deep background in diamond trade regulation, Al Hashemi leads the only ISO-certified KP Office globally and has played a pivotal role in managing the UAE’s sole entry and exit point for rough diamonds. Her contributions to the UAE’s KP Vice Chairmanship in 2015, Chairmanship in 2016 and 2024, and her previous tenure as CPC Chair in 2017 highlight her wealth of experience in KP governance.
The CPC is a vital body within the Kimberley Process, responsible for evaluating new participants, reviewing compliance matters, and assessing Vice-Chair candidates. Its recommendations are presented at the KP Plenary meeting, ensuring the integrity of the certification scheme. As per KP protocol, the previous year’s KP Chair assumes the role of CPC Chair the following year.
Al Hashemi’s appointment underscores her long-standing commitment to strengthening the KP framework. Her leadership is expected to further reinforce the KP’s mission in promoting responsible diamond trade practices worldwide.
source:DMCC
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