DiamondBuzz
Natural diamond prices stabilizing, recovering lies in the balance of macro-economic variables in major consumer markets
Through mid-February 2025, rough diamond prices are down a modest 1-2% year-to-date, according to the Zimnisky Global Rough Diamond Price Index. This follows an 18% decline in 2024 and a 15% decline in 2023. Rough prices are now down some 40% from the all-time high reached in the exuberant years of 2021 and 2022 where global diamond demand soared on the back of record economic stimulus in response to the pandemic.
The likelihood of natural diamond prices stabilising and subsequently recovering in 2025 and beyond lies in the balance of macro-economic variables in major consumer markets as well as more micro factors such as the magnitude and effectiveness of industry marketing and the trade’s ongoing efforts to positively differentiate its product from competing lab-grown diamonds.
Regarding the latter, potential catalysts include consumers’ (as well as jewellers’) dynamically changing perception of lab-grown versus natural diamonds at ever extreme price differentials and the industry’s aim to make easy-to-use consumer-facing natural diamond detection equipment ubiquitous in the consumer sphere
In the U.S., which represents over 50% of global consumer diamond jewellery demand, near-term macro drivers include the evolution of monetary policy, the impact of deglobalisation and the re-industrialisation of America under the new Trump administration.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
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