Exports of Swiss watches in July rebounded, up 6.9 per cent to CHF 2.4bn (USD 2.98bn) after two months of decline.
The growth was largely driven by front-loading of shipments ahead of 39 per cent US tariffs.
The Federation of the Swiss Watch Industry Exports (FHS) acknowledged that without the tariff-related increase in US sales, overall exports for the month would have fallen by 0.9 per cent.
“In reality, this was a move to build up local stocks and provides little insight into the actual state of the market,” it said.
The US started charging a 39 per cent tariff on all Swiss watch imports, as of 7 August. Manufacturers responded by building up their US stocks ahead of that deadline as a short-term fix.
Swatch Group CEO Nick Hayek told Reuters: “We shipped much more product to the United States, so this means there is not an immediate impact on us.”
Sales to China were down 6.5 per cent after a 6.1 per cent increase in June. And Hong Kong was up 4.6 per cent after a 10.6 per cent drop in June.
The U.S. Open may be best known for its high-intensity rallies and dramatic tiebreaks, but this year, Tiffany & Co. has ensured the spotlight also falls on sparkle. At the 2025 tournament, the jeweller unveiled an exclusive pop-up installation at the USTA Billie Jean King National Tennis Center, highlighted by a diamond-encrusted tennis racket.
Positioned at Fountain Plaza, the immersive Tiffany space is unmistakable, marked by a striking oversized Tiffany Blue tennis ball. Inside, visitors are met with the U.S. Open Championship Trophies—the Men’s and Women’s Singles Cups—each meticulously handcrafted in Tiffany’s Rhode Island workshop. These sterling silver pieces, produced by master silversmiths since 1987, require approximately six months of labour, with more than 60 hours dedicated to precision engraving and finishing.
The Diamond Showpiece
The centrepiece of this year’s display is the Tiffany HardWear tennis racket, adorned with nearly five carats of diamonds across its face. It is accompanied by a 24-karat gold vermeil tennis ball, embellished with a further seven carats of diamonds. While hardly designed for a match on Arthur Ashe Stadium, the pairing reflects Tiffany’s blend of craftsmanship, innovation, and luxury—an exercise in artistry rather than athletics.
Heritage Meets Modern Spectacle
Tiffany & Co.’s long-standing association with sporting excellence is well established. Beyond its near four-decade legacy of producing the U.S. Open trophies, the house also crafts other icons of American sport, including the NFL’s Vince Lombardi Trophy and the NBA Finals’ Larry O’Brien Championship Trophy.
Yet this year’s U.S. Open activation goes beyond tradition. In collaboration with Meta, Tiffany has introduced an AI-powered digital experience, allowing fans to virtually place themselves at centre court, holding a championship trophy for a keepsake “trophy selfie.”
Diamonds in the Spotlight
The Tiffany pop-up runs throughout the tournament until 7 September, giving both tennis enthusiasts and jewellery aficionados an opportunity to step into Tiffany’s world of diamonds and silverware. The installation serves as a reminder that while the U.S. Open celebrates grit and athletic achievement, glamour and craftsmanship continue to share the stage.
In the diamond trade, we often speak of a laser inscription as if it is an unbreakable bond between a diamond and its grading certificate. However, anyone with real-world experience whether on the manufacturing floor or in the secondary market knows the truth: inscriptions can be removed, altered, or forged.
Polish the girdle and the inscription disappears. Re-cut the stone and it’s gone entirely. Worse still, an inscription can be duplicated onto a different diamond to mimic an existing report number. This is not speculation; it has happened, and more often than many in the trade care to admit.
Another serious vulnerability occurs after grading. Once a diamond is set into jewellery, nothing prevents a switch from taking place during setting, repair, or even in transit. This risk is not confined to smaller stones high-value diamonds have been switched in exactly this way.
Verification presents its own challenges. Even if the diamond is the original stone graded by the laboratory, the inscription is frequently obscured by the jewellery setting. Accessing it often requires removing the stone a delicate procedure that carries risk to both the stone and the setting. Most grading laboratories, including DCLA, will not remove diamonds from their mountings, and many jewellers are reluctant to attempt it due to the potential for irreversible damage.
Digital records, blockchain entries, and grading reports track the details, but they do not track the actual physical stone. If the diamond is switched but the paperwork remains unchanged, the system still appears to validate it as authentic. This is precisely how sophisticated fraud can go undetected.
Until the industry bridges the gap between the physical diamond and its digital record, laser inscriptions will remain a weak link in the chain of security.
At DCLA, we believe the next step in true physical traceability lies in combining advanced identification technology with secure, tamper-proof verification processes ensuring that a diamond’s identity is as enduring as the stone itself.
Petra Diamonds has announced plans for a major refinancing program – together with a 33 per cent slide in revenue for FY2025.
The UK-based miner, which has recently sold off two of its four diamond mines, is facing substantial financial and operational challenges.
It is proposing an extension of senior secured bank debt and notes due early next year to 2029 and 2030 respectively, together with a $25m rights issue.
The moves are designed to preserve cash, extend debt repayment timelines, and ensure Petra can continue investing in its two remaining core mines – Cullinan and Finsch, both in South Africa.
Petra’s latest sales results, published on the same day (8 August) as its refinancing package, show some positive momentum in the market with like-for-like rough diamond prices from its latest tender, but revenue for Q4 was down 49 per cent year-on-year to $50m.
Revenue for FY2025 was $206m, down 33 per cent year-on-year from $309m and net debt increased to $264m.
“We would once again like to acknowledge the resilience shown by our employees in navigating a very difficult period for the company and the diamond sector as whole,” the company said in its Q4 and FY 2025 Operating Update.
Meanwhile, in its refinancing proposal Petra said: “Petra has, over the past 18 months, been focused on an internal restructuring that has resulted in a simpler and more streamlined business and operating model.
“This has included the sale of the Koffiefontein and Williamson mines, multiple labour restructuring initiatives and an optimisation and smoothing of the group’s capital development profiles.”
Indian jewelry retailer Tanishq is introducing in-store diamond evaluation some of its 500-plus outlets, as part of an ongoing partnership with de Beers.
Customers will be able to see proof that the diamond they’re buying is natural rather than lab grown, thanks to the De Beers SynthDetect machine, which works with loose and mounted stones.
They can also have diamonds tested with Lightscope, which measures light performance, and with other equipment for performance, inclusions, and laser markings.
Tanishq, part of the Titan group, says the launch of its Diamonds Expertise Centres is designed to give customers greater peace of mind by presenting complex gemological data as simple, visual insights. It says the centers are a “first of a kind initiative”.
The first three are in Bengaluru, but the company plans to expand them to 200 stores this year and eventually to all its outlets.
Ajoy Chawla, CEO at Tanishq, said: “Our aim is to set a new standard in natural diamond retail — one that goes beyond traditional display and transforms the buying journey into a transparent, educational, and truly immersive experience.”
Last August Tanishq and De Beers jointly announced that they’d be working together to promote natural diamonds in India, now the world’s second biggest diamond market.
The partnership leverages Tanishq’s retail presence and De Beers’ expertise and proprietary diamond verification technology.
US President Donald Trump today (6 August) doubled the tariff on all imports from India to 50 per cent, as a punishment for its oil purchases from Russia.
India’s diamond industry, already reeling from confirmation last week of a 25 per cent reciprocal tariff, is in shock that their goods will be subject to a second 25 per cent surcharge.
“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” Trump said in an executive order.
“Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent.”
The first 25 per cent tariff comes into force tomorrow (Thursday 7 August) and the new, punitive tariff is applicable three weeks from now, on 27 August.
The US is the single largest destination for Indian diamonds and gems, accounting for nearly $10bn or about 30 per cent of India’s annual gems and jewelry exports.
Industry leaders were already warning of the dire consequences of a 25 per cent tariff. Now they are facing an unprecedented body blow with the introduction of a 50 per cent double-tariff.
India’s Ministry of External Affairs said in a statement today that the tariffs were “unfair, unjustified and unreasonable”.
It defended its Russian oil purchases, saying they were “based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India”.
The US imposition of an extra tariff was, it said, “extremely unfortunate”.
Watch and jewelry sales in the US slipped into negative growth during June – down 1.7 per cent – after 19 months of almost uninterrupted increases.
The decline, after such a prolonged positive period, reflects growing concern over the impact of US reciprocal tariffs which came into force on 1 August, along with broader economic uncertainty in the market and higher gold prices.
Meanwhile the US Department of Commerce has made significant changes to figures published last month. Sales for May have been revised down from +2.8 per cent to +0.7 per cent, based on actual transactions rather than estimates, and April is down from +2.3 per cent to +1.8 per cent.
The original figures indicated that things were better than they actually were, especially after a number of months when monthly sales increases were hovering just above zero. The June dip appears to signal a downturn ahead of the 1 August implementation of tariffs.
A “quiet tech” diamond ring flashes different colors to alert the wearer to smartphone activity.
The 1.5-ct emerald-cut CVD lab grown stone is set in a white gold bezel, and will be available for pre-order in the third quarter of 2025 at around $3,000, with products expected to be delivered in mid-2026.
French startup Spktrl, which developed the Bluetooth-enabled, AI-powered device, says it’s the first of its kind. There are other smart rings on the market, but they function as health and fitness trackers.
The sole function of Light Ring is to discreetly signal priority smartphone notifications, helping reduce digital distractions.
Built-in artificial intelligence learns user habits over time to refine which alerts activate the ring.
Spktrl was founded by Katia de Lasteyrie, a former innovation lead for LVMH’s watches and jewelry division.
“Our technology isn’t designed to replace phones or make you faster but to give you back control,” she said.
“The stone is the interface, and the color is the language. Personalized to each user, our ring communicates important messages in a novel way that is truly mindful of their time and attention,”
When choosing a precious metal for a custom-made ring, the two most popular options are 18-carat gold andWhen choosing a precious metal for a custom-made ring, the two most popular options are 18-carat gold and platinum. Both metals are prized for their beauty, durability, and prestige, but they differ significantly in terms of cost, weight, and long-term maintenance. Whether you’re designing a bespoke engagement ring, a wedding band, or a statement piece, understanding the key differences between 18K gold and platinum will help you make an informed decision.
Material Comparison: 18K Gold vs. Platinum
1. Purity and Composition
18K Gold is made up of 75% pure gold and 25% alloy metals (such as copper, silver, or palladium), which influence its colour and strength. It is available in yellow, white, or rose tones.
Platinum is typically 95% pure, making it denser and more hypoallergenic than gold. It retains its naturally white colour over time without the need for rhodium plating.
2. Weight
Platinum is approximately 60% heavier than gold. For example, a ring that weighs 5 grams in 18K gold would weigh about 8 grams if made in platinum. This weight difference gives platinum rings a more substantial feel but also impacts the price.
Cost Breakdown: Gold vs. Platinum Ring
Example: Classic Solitaire Ring Design
Feature
18K Gold (5g)
Platinum (8g)
Metal Cost per Gram
AUD $123-145
AUD $73 -85
Total Metal Cost
AUD $615–725
AUD $584–680
Crafting Charges
AUD $300–500
AUD $400–600
Total Estimated Cost
AUD $915–1125
AUD $984–1280
Note: These figures are approximations and vary based on ring design complexity, jeweller’s rates, and daily bullion prices.
Why Choose 18K Gold?
Affordable luxury: Gold offers the prestige of a precious metal at a more accessible price.
Colour variety: Choose from yellow, white, or rose tones to suit your personal style.
Classic and timeless: 18K is the standard for luxury jewellery, combining durability with rich colour.
Why Choose Platinum?
Exceptional durability: Platinum is more resistant to wear and ideal for heirloom pieces.
Hypoallergenic: A top choice for sensitive skin.
Low-maintenance: Maintains its natural white lustre without plating.
Choosing between 18K gold and platinum comes down to your budget, lifestyle, and personal preferences. If you’re looking for a lighter, more affordable option with colour flexibility, 18K gold is a great choice. If you value longevity, weight, and purity, platinum may be worth the higher investment.
Either way, a well-crafted ring in either metal will provide a lifetime of beauty and meaning. Always consult with a reputable jeweller to discuss your design and get an accurate quote based on current metal prices.
Richemont reported another increase in jewelry sales in the three months to 30 June, but saw its watch revenue dip again.
The Swiss luxury goods conglomerate said its jewelry maisons – including Cartier, Van Cleef & Arpels, Buccellati, Piaget and Vhernier – saw sales increase by 11 per cent at constant exchange rates during Q1 FY2026 to EUR 2.914bn (USD 3.359bn).
It marks the third consecutive quarter of double-digit growth. In Q4 2025 the increase was 8 per cent.
Richemont said sales had been boosted in Europe, Americas, and Middle East & Africa by a robust recovery in tourism local spending. All regions posted increases, except for Japan.
But watch sales declined by 7 per cent to EUR 824m (USD 950m), mainly due to downturns in China and Japan, but offset by double-digit growth in the Americas.
Consumers were cautious, switching from high-end to mid-range watches from Richemont’s brands – A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.
Watches and jewelry account for almost 90 per cent of Richemont’s total revenue (the rest is fashion and accessories).
Across the entire group sales increased 6 per cent to EUR 5.4bn (USD 6.23bn) despite macroeconomic volatility.
