loader image
Connect with us

DiamondBuzz

Okavango fails  to sell a single stone in an unprecedented “emergency” tender of 1m carats 

Published

on

1,916 Views

What was meant to be a lifeline for Botswana’s treasury turned into a sobering signal for the global diamond market. Okavango Diamond Company (ODC), the state-owned marketer of rough gems, put a million carats on the table in a rare “emergency” sale last Thursday — and walked away without a single bid crossing the reserve line.

The failed auction underscores just how sharply sentiment around natural diamonds has deteriorated. Buyers balked at the price floor, leaving the government without the hoped-for revenue infusion. The outcome also raises doubts over ODC’s plan to stage additional off-calendar tenders before year-end.

Ordinarily, ODC runs a predictable rhythm of about ten digital spot auctions annually, offering select parcels from Debswana — the 50:50 joint venture between Botswana and De Beers. The surprise tender was a calculated break from tradition, but instead of relief, it exposed the depth of demand weakness.

Market watchers note this isn’t an isolated stumble. ODC has been scrapping tenders since late 2024, signaling a market that continues to sag under oversupply, slowing luxury spending, and a cautious midstream. Ahead of the failed sale, company spokesman Dennis Tlaang emphasized that ODC would not “sell at levels that destabilize the market.” That stance may have preserved long-term pricing discipline, but at the cost of short-term cash flow.

For Botswana — whose economy leans heavily on diamonds — the no-sale result is a stark reminder: even in resource-rich nations, market cycles can rewrite the rules overnight.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

DiamondBuzz

Raw Mango makes its debut at London Fashion Week Presented by De Beers Group featuring Forevermark Diamond Jewellery

Published

on

1,270 Views

The Fall Winter 2026 collection It’s Not About The Flower reinterprets the cultural symbolism of the garland on a global stage, presented by De Beers Group with Forevermark Diamond Jewellery celebrating heritage, provenance and contemporary craftsmanship.

At its inaugural show on an international stage, Raw Mango debuted their Fall Winter 2026 collection It’s Not About The Flower at London Fashion Week. Drawing inspiration from the ubiquitous garland—which is a humble, albeit important part of everyday life in South Asia—the collection blurs the line between decoration and that which is decorated. The focus with this collection shifts from the individual motif to the arrangement, from surface-level engagements to a deeper interrogation of value and beauty, from the flower to the garland.

Talking about the inspiration and emotional core behind the collection, designer and founder of Raw Mango Sanjay Garg says, “Flowers remain an important part of South-East Asia and South Asia. But we don’t really have a culture of giving one individual flower to someone, like, say, a rose on Valentine’s Day.” He continues, “As a culture, we are a country of garlands. Whether it’s a death, a birth, a wedding or a religious ritual, you see garlands, irrespective of the religion. It’s not about one individual flower; it’s about the plurality.”

With the show in London, the brand presents an indigenous idea of fashion that challenges convention and seeks to break away from stereotypes. “There is still a strong association between Indian fashion and a certain kind of aesthetic — heavy gold embroidery, and maximalist ensembles that overwhelm the eye and the body with ‘bling’,” says Sanjay.“Indian fashion is too often quantified – it’s not seen for its innate aesthetic value, but the number of hours it took a weaver to create a garment. It’s a surface-level engagement that sometimes drowns out the beauty of the weave itself.”

The garments and silhouettes offered interpretations of how a garland sits on the body. The flowers themselves were constructed in various non-traditional and silk-like fabrics, assembled or rolled by hand—each placed in delicate arrangements on lightly embroidered brocades, rib-knit cottons, quilted rayon and wool felt. Presented to an audience comprising influential voices across the worlds of fashion, business, entertainment and culture including artist Anoushka Shankar, former first lady of the UK Akshita Murthy, Film Director Gurinder Chadha, Actor Saim Ali, artist Cyrill Ibrahim, artist Lubna Chowdhary, Rahi Chadda, Founder of Openended Design – Suhair Khan, Art Collector and Philanthropist Aarti Lohia, Curator Tarini Malik, Creative Director Nikhil Mansata and Creative & Cultural Strategist Arooj Aftab, It’s Not About The Flower asked to be appreciated on its own terms.

Speaking to the significance of Raw Mango showing at London Fashion Week, Sanjay Garg responds, “Presenting here is as good as presenting in Kanpur for me.  At the end of the day, it is the work being presented that matters. And that doesn’t change according to who is viewing it, or where. I’m less interested in defining my audience and more interested in further exploring and articulating my design language that can cater to different audiences that transcends borders and seasons.”

This laser-sharp focus on the work, rather than the accoutrements and requirements of fashion calendars, is what has defined Raw Mango’s approach to textile and culture over the past eighteen years. The brand builds on century-old skills to shape a new aesthetic vocabulary that is both contemporary and deeply rooted in local histories.

For its London Fashion Week presentation of It’s Not About The Flower, Raw Mango was presented by De Beers Group, with Forevermark Diamond Jewellery as the jewellery partner. United by a shared respect for provenance and craftsmanship, the collaboration underscores adornment as an expression of individuality, culture, and personal style.

Commenting on the partnership, Shweta Harit, Global Senior Vice President at De Beers Group and CEO of Forevermark, said: “As the jewellery partner, Forevermark Diamond Jewellery came together with Raw Mango through a shared commitment to authenticity, craftsmanship, and personal expression. Natural diamonds – rare creations of the earth, each inherently unique – reflected the same sense of individuality expressed through Raw Mango’s design language.

Presented by De Beers Group, the collaboration came together as a meeting of heritage, provenance, and contemporary creativity, where adornment felt like a true extension of identity.”

In a season dominated by conversations around conscious luxury and material honesty, the alignment was clear. Heritage is not a trend. Craft is not a spectacle. And like the enduring belief that a diamond is forever, true value lies in what time cannot erode.

 

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x