Deepak Nair

GSI Launches Minisite for Indian Jewelry Industry Gemological Science International (GSI) has launched its first minisite, http://www.gsiindia.net/, dedicated specifically to the Indian jewelry industry. GSI has been in India since 2006 and its business now serves both export and local sectors, according to CEO Mark Gershburg. "The minisite concept has been used by many non-jewelry companies. We believe this is its first application in the jewelry industry," says Mr. Gershburg. "This approach allows us to offer more Indian-directed services online without overcomplicating our main site. It also shows our dedication and strong belief in the future of the Indian jewelry industry." In support of the Indian industry, including those looking to enter it, the GSI-India minisite provides information and services that are unique for a gem lab. For example, it offers a list of Indian suppliers of equipment and services along with directories of Indian jewelry associati...

Women Regard Gold Jewellery Ideal Gift for Valentine's Day: WGC Survey - Represents something 'everlasting' say 76% of the correspondents The Israel Diamond Industry Portal reported that according to participants in the World Gold Council's (WGC) 2008 jewelry survey, women all the world – no less than 76% - agree unanimously that a key reason for buying gold jewelry as a gift is "because it is everlasting,” which makes it very apt for a Valentine's Day gift. The survey was conducted by the GfK independent research firm, in the central gold jewelry markets of India, China, Saudi Arabia, Italy, Turkey and the USA. 7,500 females aged between 15 and 65 were asked what their reasons for buying gold jewelry were and to name favorite occasions for receiving gold jewelry. Valentine's Day was named a key date. Philip Olden, Managing Director of the World Gold Council, noted: "Our survey shows that Valentine's Day is an important occasion for receiving ...

Diamond as an Investment History Diamonds have been cherished as gemstones since the ancient times. Popularity of diamonds has increased since the 19th century because of successful advertising in spite of an outrageously increased supply. Diamonds are not usually used as a mainline store of value during times of crisis, due to their lack of fungibility and low liquidity. Though, they may still be useful during times of hyperinflation. Roughly 20% of mined diamonds are used in jewelry and 80% for industrial uses (such as lasers, drill parts and surgical equipment). Chemical vapor deposition is now used to produce cultured diamonds which, different diamond simulants, require very close inspection to distinguish them from natural diamonds. Diamond price In olden times, the wholesale diamond price has been controlled by De Beers Group, which has an estimated 40% to 50% of the market. Botswana is presently the largest producer of diamonds with mines operated by Debswana, a joi...

Diamond Jewellery Gaining Popularity Down South - Registers a 25% positive growth Kerala market is known for its affinity for gold, diamond jewellery is becoming increasingly popular with customers in the state. Industry experts say that sale of diamond jewellery in the state has increased from Rs 400 cr in 2005 to nearly Rs 600 cr in 2008. The state has about 20 diamond dealers and over 50 retail outlets selling diamond jewellery. "Even though the economic slowdown has affected the consumer market in the state, the sale of gold and diamonds has been registering a positive growth in the last few months," they said. As per a report of De Beers Diamond Trading Company, the top city for retail diamond jewellery sale in the country is Hyderabad, followed by Kochi. "While the national sale figure of diamond jewellery has fallen nearly 70 percent from last year's sale figure in the last four to five months, in Kerala the sale figure shows a growth rat...

Diamond Retains Lustre Among Online Shoppers - Kundan sets too find prominent buyers Reports say that glittering even during the economic downturn, diamonds better known as a "girl's best friend", have emerged as one of the most popular buys among online shoppers. Diamonds were much sought after purchases by women as well as men in January, according to data available with online marketplace eBay India. Apart from loose diamonds, 'Kundan sets' and diamond rings were the most popular among jewellery shoppers. "Diamonds continue to be a girl's best friend. As more women shop online as well as most male shoppers gifting jewellery to their significant others, jewellery is the single most popular category on eBay India," an analysis report of 50 most popular trends by the company showed.

LVMH 2008 Sales Rises 4 percent - But a 2 percent decline at constant exchange rates Rapaport reports that LVMH Moët Hennessy Louis Vuitton reported that its 2008 sales rose 4 percent to EUR 17.2 billion ($22 billion). At comparable exchange rates, the company saw sales growth of 7 percent. Group profits, although nearly flat from 2007 at EUR 2 billion ($2.6 billion), set a new record for the luxury goods company. The watches and jewelry category rose 6 percent to EUR 879 million ($1.1 billion), but experienced a 2 percent decline at constant exchange rates. Operating profits fell 16 percent to EUR 118 million ($151 million), the steepest decline of all of the company's sales categories. LVMH reported a noticeable drop in jewelry sales during the fourth quarter due to weak sales in the U.S., but "good performance in Europe and Asia compensated in part for the slowdown in the American and Japanese markets." Bernard Arnault, chairman and chief executive officer...

Diamond Producers Plan Joint Marketing Campaign -Alrosa, De Beers, Harry Winston and BHP Billiton The Israel Diamond Portal Reported that Diamond producers Alrosa, De Beers, Harry Winston, BHP Billiton and Rio Tinto, which together control over 90% of the global diamond market, are planning a joint marketing campaign to promote demand for diamonds. The President of Alrosa, Sergei Vybornov, stated that part of the plan is to advertise diamonds as an investment vehicle in order to boost demand. De Beers spokesperson Lynette Gould said that the diamond producing companies will set up an SPV, SteerCom, to implement their common market strategy. Management consultants McKinsey & Co are reportedly working on the financial planning which will involve all of the production chain's links from diamond miners to cutters and jewelers. Vybornov and Gould did not specify the amount of money to be invested in the campaign. Sergei Goryainov estimates that an effective mark...