DiamondBuzz
Swarovski returns to profitability; LGD sales double

Swarovski, the renowned Austrian crystal manufacturer, has successfully returned to profitability after five years of financial struggles. The company reported a 6% revenue growth in 2024 and a remarkable doubling of sales in its lab-grown diamonds segment. This milestone marks a significant turnaround for the family-owned business, indicating the success of its strategic initiatives.
Financial Performance For the fiscal year ending December 31, 2024, Swarovski Crystal Business recorded revenue of EUR 1.9 billion ($2 billion). The company achieved record sales in the United States and Austria, despite operating in a challenging trading environment. While a detailed financial breakdown was not provided, Swarovski emphasized improvements in key financial metrics, including earnings before interest and taxes (EBIT) and cash flow.
Lab-Grown Diamonds Growth Swarovski’s lab-grown diamond division, Swarovski Created Diamonds, saw sales more than double in 2024. The company did not disclose specific figures but highlighted the segment’s rapid expansion as a testament to increasing consumer demand for sustainable and ethically sourced jewelry.
Strategic Vision: LUXignite CEO Alexis Nasard attributed the company’s resurgence to its LUXignite strategy, which aims to modernize the Swarovski brand while preserving its iconic heritage. This approach integrates contemporary cultural trends with Swarovski’s legacy, enhancing its appeal among modern luxury consumers.
Future Outlook Looking ahead to 2025, Swarovski acknowledges potential instability in the global economic environment. However, with the celebration of its 130th anniversary, the company remains committed to executing its strategy with a focus on creativity, strategic investments, and financial discipline. Nasard emphasized that the turnaround remains in full motion, driven by strong brand desirability, innovative product collections, and an immersive retail experience.
Conclusion Swarovski’s return to profitability and the exponential growth of its lab-grown diamond segment highlight the success of its strategic transformation. With a solid foundation in place, the company is poised for sustained growth, reinforcing its position as a leader in the luxury crystal and jewelry market.

DiamondBuzz
De Beers Unveils ‘Origin’: Blockchain-Backed Diamonds for a New Era of Transparency and Trust

De Beers Group has officially launched Origin, a pioneering initiative that brings blockchain technology to the heart of the natural diamond trade, offering consumers an unprecedented level of traceability, authenticity, and ethical assurance.
Each diamond in the Origin collection is individually verified and traceable, allowing customers to follow its journey from deep earth formation to expert craftsmanship and final retail presentation. The initiative is powered by tamper-proof blockchain technology, ensuring a secure and transparent record of each diamond’s provenance.
“As a brand, we understand that modern consumers value not just beauty, but also trust and purpose,” said De Beers during the launch. “Origin is our vision for a diamond industry that is transparent, ethical, and built on authenticity.”
The Origin platform not only affirms the diamond’s natural origin but also highlights its social and environmental impact—detailing the positive contributions made in the local communities where the stones are mined.
A Retailer-Ready Revolution
For retail partners, Origin offers more than just ethically sourced brilliance. It comes bundled with:
- Experiential merchandising solutions
- Custom marketing assets
- Retail staff training tools
These assets are designed to connect with today’s values-driven consumers, who seek deeper meaning and verified ethical sourcing in luxury purchases.
Origin also integrates seamlessly into retailers’ loose diamond portfolios, offering flexibility alongside elevated consumer confidence in the integrity and ethical story behind every stone.
The launch aligns with De Beers’ broader mission to lead the natural diamond industry toward a more responsible, transparent, and future-ready standard—where luxury is inseparable from accountability.
DiamondBuzz
Diamond Market Rebounds in 2025; India Emerges as Global Growth Engine

The global diamond industry is showing signs of revival in 2025, following two years of sluggish demand. According to Susan Jacques, President and CEO of the Gemological Institute of America (GIA), the gem and jewellery sector faced significant headwinds after a brief boom in 2021, which was fueled by pandemic-era shifts in consumer spending and travel behavior.
While 2022 saw strong pricing and demand, a downturn took hold through 2023 and 2024. Now, a renewed sense of optimism is emerging. “The recovery was expected, and we’re beginning to see positive momentum return,” Jacques noted.
A key driver of this rebound is India, whose cultural affinity for diamonds continues to underpin strong consumer interest. Over the past two decades, India’s share of global diamond demand has surged from just 2% to nearly 11%, positioning it as the world’s second-largest market for natural diamonds—trailing only the United States, which remains dominant with around 55% of total sales.
Pritesh Patel, Senior Vice President and Chief Operating Officer at GIA, remarked that the US market has remained stable in early 2025, and industry stakeholders are optimistic about sustained demand. In India, he observed a notable shift: interest in diamonds is expanding well beyond major metropolitan areas.

“Tier-2 and tier-3 cities are now driving growth, alongside established hubs,” Patel said. He added that demand is strong across India’s southern, northern, and western regions, signaling a broad-based recovery in diamond jewellery purchases.
The global industry is cautiously optimistic as it navigates 2025, buoyed by emerging markets and a renewed appetite for luxury adornments.
DiamondBuzz
WFDB Applauds Luanda Accord Backing Natural Diamond Promotion

The World Federation of Diamond Bourses (WFDB) has expressed strong support for the Luanda Accord, an agreement among major diamond-producing nations and trading hubs to bolster the global promotion of natural diamonds. Under the accord, all signatories will contribute 1% of their annual rough diamond revenue to the Natural Diamond Council’s marketing efforts.
Signed in Luanda, Angola, the accord brings together key industry players, including Botswana, Angola, Namibia, South Africa, Sierra Leone, the DRC, and organizations such as the Antwerp World Diamond Centre, Dubai Multi Commodities Centre (DMCC), India’s Gem & Jewellery Export Promotion Council (GJEPC), and the African Diamond Producers Association.
The agreement follows the WFDB Presidents’ Meeting in New York, where consensus was reached on the urgent need to unite in support of natural diamonds. Industry leaders such as Botswana President Duma Boko, Angolan Minister Diamantino Azevedo, De Beers CEO Al Cook, and DMCC Executive Chairman Ahmed Bin Sulayem were in attendance.

WFDB President Yoram Dvash commended the initiative and particularly praised signatories DMCC and GJEPC, stating, “I am very gratified to see the mobilization of the global diamond industry to promote natural diamonds. As I said at the Presidents’ Meeting, now is the time to lead with unity to protect the value and legacy of the natural diamond. United, we will remind the world why a natural diamond will always be forever.”
The WFDB also launched its own natural diamond video campaign, encouraging members to amplify the message through social media.
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