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Forevermark has launched a concept store in Shanghai tailored to millennial shopping habits, marking its 1,000th branch in China.
The opening of the store, named Libert’aime, also celebrates the brand’s 10th anniversary of entering the country. The De Beers-owned brand designed the branch’s diamond-jewelry line with a young, self-purchasing consumer in mind, it said Tuesday.
The store combines online and offline platforms, including a WeChat store. It also features digital experiences such as a 3D diamond wall, and a “magic mirror” that allows customers to share pieces with friends and family.
The store includes sections dedicated to different product types. The “diamond bar” will feature daily-wear diamond jewelry, while fancy-cut and multi-diamond pieces will be located in the “spectacular diamond” area.
“[Libert’aime] brings together an innovative in-store offering with online and social channels to provide customers with a highly engaging and personalized buying experience,” Forevermark CEO Stephen Lussier said. “We recognize that our consumer continues to evolve and, with Libert’aime by Forevermark, we are thrilled to be offering a diamond-jewelry range that has been designed with a younger, more fashion-forward consumer in mind, who might just be starting their diamond journey.”
The Shanghai store will also feature a new collection, LE LIGHT, designed by popular Chinese actor and musician Timmy Xu Weizhou.
In addition, De Beers Diamond Jewellers has opened a new store in the luxury SKP shopping mall in Xi’an, its sixth in mainland China. The new branch will feature three separate divisions: one for bridal jewelry, a second with collections such as the Talisman, Enchanted Lotus and Dewdrop lines, and a third showcasing high-jewelry pieces.
Source: diamonds.net
Credit: Matt Crabb/De Beers
Lucapa Diamond Company has recovered a 25 carat yellow diamond from its 70% owned Mothae mine in Lesotho during its first two days of trial processing at the project.
The yellow diamond was unearthed from the Neck zone of the Mothae kimberlite, which is not part of the current 1 million carat JORC resource.
Gem Diamonds announced the recovery of a 115 carat, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.
A Zimbabwe parliament committee has summoned former president Robert Mugabe to give evidence on Wednesday about diamond corruption alleged to have cost billions of dollars during his rule.
Mugabe, who was ousted from office in November after a brief military takeover, has not commented on whether he will appear before the committee.
A parliamentary notice for May 23 was released on Monday.
“Subject to confirmation, oral evidence from His Excellency, the former president of the Republic of Zimbabwe, comrade RG Mugabe, on diamond mining revenues,” it read.
Mugabe, 94, who is in frail health, was also called to give evidence last month but the meeting was postponed.
Lawmakers plan to question Mugabe over his 2016 claim that the country had lost $15 billion in revenue due to corruption and foreign exploitation in the diamond sector.
No one in Mugabe’s office was available to confirm whether he would appear.
The former president, whose own regime was accused of syphoning off diamond profits, has described his ousting as a coup.
He has not been seen in public since November, though he hosted a private birthday party in February at “Blue Roof” – the lavish mansion where he and his wife Grace, 52, have been living in apparent seclusion in recent months.
Mugabe was replaced by his former deputy Emmerson Mnangagwa, a veteran loyalist in the ruling ZANU-PF party who was backed by senior military officers.
Zimbabwe discovered alluvial diamonds in Chiadzwa, in the east of the country, over 10 years ago.
Rights groups have accused security forces of using brutal methods to control the scattered deposits.
The parliament committee, headed by independent MP Temba Mliswa, has already interviewed former ministers, police and intelligence chiefs on mining at Chiadzwa.
Zimbabwe is due to hold elections in July or August, the first since Mugabe was unseated, with the Zanu-PF widely predicted to retain power.
AFP
Meghan Markle’s engagement ring may be the pièce de résistance of her royal wedding jewelry but the rest of her accessories require notice.
The diamond bandeau tiara, made from diamonds and platinum, was made in 1932, with the centre brooch dating back to 1893.
The bandeau is formed as a flexible band of eleven sections, pierced with interlaced ovals and pavé set with large and small brilliant diamonds. The centre is set with a detachable brooch of 10 brilliant diamonds.
To complement her beautiful tiara, Markle kept the rest of her jewelry simple, opting for a pair of diamond stud earrings and a stunning bracelet.
No necklace here the Duchess kept the boatneck of her wedding gown clean and modern.
Markle is also wearing Galanterie de Cartier earrings and Reflection de Cartier bracelet made by French jeweller Cartier.
The royal pedigreed Farnese Blue as well as two jumbo size D flawless stones all zoomed past their estimates at Sotheby’s May 15 auction in Geneva, showing that life remains in the high end gem market.
The 6.16 ct. Farnese Blue nabbed $6.7 million ($1.09 million per ct.), a substantial improvement over its $3.6 million $5.2 million estimate. Its buyer was anonymous.
The pear shape blue gray Farnese’s price was undoubtedly boosted by its unique heritage: Originally given to Elisabeth Farnese, Queen of Spain, as a wedding present in 1715, it passed through four royal families, although its existence was a closely guarded secret until recently. The gem (pictured, below) is believed to have originated from India’s historic Golconda diamond mine, one of the world’s first gem producers and the source of the Hope and Wittelsbach diamonds.
Daniela Mascetti, senior director and deputy chairman of jewelry at Sotheby’s Europe, said in a statement: “The Farnese Blue is quite simply an unforgettable diamond, and everyone who set their eyes on it was mesmerized by its extraordinary color the rich blue of the deepest ocean.”
Also doing well were two Botswana mined D flawless type IIa diamonds a 51.71 ct. round (below, left) and a 50.39 ct. oval (below, right). Both topped their estimates as well as the price fetched by the Farnese Blue. The round sold for $9.3 million ($178,918 per ct.), and the oval fetched $8.1 million ($161,219 per ct.).
If all that weren’t enough, two purplish pink diamonds set auction records. A 9.7 ct. fancy light purplish pink (below, left) fetched $2.5 million ($267,290 per ct.), setting a new record price for a fancy light purplish pink as well as a new record price per ct. A 2.63 ct. fancy vivid purplish pink (below, right) fetched $2.4 million ($917,443 per ct.), which is a new record price for a fancy vivid purplish pink.
All in all, the auction set five world records and sold 80 percent of its lots, with 70 percent of the lots selling above their high estimates.
Top: Caroline Lang, chairman of Sotheby’s Switzerland, auctioning the Farnese Blue (all photos courtesy of Sotheby’s).
Fancy blue diamonds out performed other major color categories in price terms during the first quarter, the Fancy Color Research Foundation said.
Prices for fancy blues jumped 5% year on year for the three months ending March 31, according to the FCRF, which released its quarterly Fancy Color Diamond Index on Monday.
By contrast, prices of fancy pink diamonds declined 1.7%, while the index for yellows slipped 0.6%, the organization said. The overall index for fancy color diamonds edged up 0.1%.
Vivid blues and vivid pinks weighing 2 carats showed the best performance in their respective color categories during the quarter.
The Fancy Color Diamond Index tracks prices of fancy yellow, pink and blue diamonds in Hong Kong, New York and Tel Aviv.
Source: diamonds.net
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Two leading industry organizations launched a digital know your customer (KYC) platform at a major banking summit in Mumbai on Friday.
The summit titled “Diamond & Jewellery Financing 2018 Mitigating Risks Efficiently” addressed the financial industry’s concerns about the diamond sector in the wake of recent fraud cases. The new platform, released by the Antwerp World Diamond Centre (AWDC) and India’s Gem & Jewellery Export Promotion Council (GJEPC), will bring greater transparency to the diamond industry, and make regulatory compliance more efficient by helping with the due-diligence process, the Belgian organization said.
MyKYCBank is a global compliance platform for the diamond industry. Users can share KYC data with other companies located in Antwerp and India, as well as banks and other financial institutions, the AWDC explained.
“This initiative will improve confidence and boost lending to the sector, and…ensure better sharing of information and transparency and growth of this SME small and medium sized enterprise sector,” India’s Commerce Secretary Rita Teaotia said at the summit. “It is important for the banking sector to support the gems and jewelry industry, as it forms an integral part of the country’s gross domestic product.”
The new platform will lower compliance risks for banks, and improve confidence in the sector, said AWDC CEO Ari Epstein.
Source: diamonds.net