International News
U.S. specialty jewellery retailers recorded a 5.7% y-o-y revenue increase in Sept 2026:Tenoris
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
U.S. specialty jewelry retailers recorded a 5.7% year-over-year revenue increase in September 2026, extending nearly two years of continuous monthly growth despite broader economic headwinds, according to new data from industry analytics firm Tenoris. Year-to-date jewelry revenues are now up 8.5%.
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
Key insights from the September report include:
- Diamond Market Dynamics: Sales of finished diamond jewelry dipped slightly by 0.6%, though average spending per stone rose 11%.
- Lab-Grown Segment: Demand for lab-grown diamond jewelry surged nearly 26% year-over-year. However, revenue for loose lab-grown diamonds fell for a fifth straight month due to declining prices.
- Outperforming Broader Luxury: While overall U.S. luxury spending fell 6% in September—according to recent Citi credit card data—jewelry sales remained comparatively resilient, driven by affluent buyers.
When overall revenue increases even as the number of individual items sold drops, it creates a optical illusion of growth. On paper, top-line financial performance looks strong, but underneath, the business is relying on fewer transactions at much higher prices.Heading into the high-volume fourth quarter—driven by holiday shopping—this dynamic presents specific operational challenges and strategic risks for jewelry retailers.
International News
Panjshir emerald industry surges, demand drives record $6.1m in gemstone sales
For a country impoverished by years of war and burdened by international sanctions, the trade in precious minerals is a valuable resource, especially in the remote corner of northeastern Afghanistan.
The Panjshir Provincial Directorate of Mines in Afghanistan today announced record-breaking growth in its gemstone sector, driven by strong international buyer demand and increased regional extraction activities.
Following its 23rd successful public commercial auction of the year, cumulative emerald sales in Panjshir have reached nearly 400 million Afghanis ($6.12 million USD), marking a steep year-over-year increase in trade revenue. The latest auction saw close to 3,000 carats of high-grade emeralds awarded to competitive regional and international bidders.
Strong Market Fundamentals & Regional Economic Impact
The Panjshir gemstone sector continues to serve as a pivotal economic engine for the region:
- Workforce Expansion: Over 15,000 workers are currently employed across artisanal and small-scale operations throughout the Panjshir Valley.
- Uncapped Resource Potential: Provincial authorities have identified more than 2,000 prospective mining sites suitable for immediate modern development and investment.
- Macroeconomic Contribution: Boosted by mining rights auctions and natural resource commercialization, total state revenue saw a 22 percent year-on-year surge entering Q2 2026, according to World Bank metrics.
“Panjshir emeralds are globally recognized for their exceptional purity and cut quality, securing a premium valuation across international markets,” said Ghulam Mustafa Habibi, a prominent regional gem merchant.
Strategic Strategic Partnership & Infrastructure Opportunities
To further modernize extraction and capture downstream value, local leadership is actively courting foreign direct investment and technical partnerships. Recent regulatory agreements have attracted venture capital and technical stakeholders across Asia and the Middle East to develop Afghanistan’s broader mineral portfolio.
Strategic priorities for the sector include:
- In-Country Processing Infrastructure: Establishing a centralized processing and standardization hub in Kabul to refine raw gemstones prior to export.
- Modernization & Modern Equipment Deployment: Transitioning operations from traditional manual extraction to industrial-grade technology to maximize yield and operational safety.
- Global Market Integration: Developing direct supply pipelines to major international gem-cutting and retail hubs.
U.S. specialty jewellery retailers recorded a 5.7% y-o-y revenue increase in Sept 2026:Tenoris
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