DIAMOND
Malabar Gold & Diamonds strengthens its presence in the UK
Malabar Gold & Diamonds has inaugurated its second UK store in Leicester on Belgrave Road's Golden Mile. The 2,000 sq. ft showroom features over 20,000 jewellery designs catering to various needs. Chairman M P Ahammed lauded customer trust during their UK expansion, with future stores planned for Southall, Wembley, Birmingham, and Manchester. Vice Chairman Abdul Salam K.P emphasized sustainability, using LBMA-certified bullion and conflict-free diamonds.
Malabar Gold opens 2nd store in UK, eyes further expansion
Malabar Gold & Diamonds, the world's sixth-largest jewellery retailer, opened its second UK showroom in Leicester on Thursday. This new 2,000-square-foot store is on Belgrave Road's Golden Mile. The inauguration was done by Leicester City Mayor Peter Soulsby. The store features over 20,000 jewellery designs from 20 countries. It caters to various wear categories, including bridal and office, the company said in a statement.
Neeraj Chopra: Indian farmer's son who made Olympic history
Neeraj Chopra, India's Olympic javelin gold medalist, returns to defend his title in Paris after making history in Tokyo 2021. Hailing from a farming background, Chopra's success inspired youth across rural India to take up javelin. With multiple accolades including a world championship, Asian Games, and Commonwealth Games golds, Chopra remains humble and driven. His personal best is 89.94m, aiming for over 90m amidst tough competition like Germany's Max Dehning. Despite fame, Chopra stays grounded, embodying the spirit of a "man of the people."
Neeraj Chopra opts out of Paris Diamond League: Report
Olympic and world champion javelin throw star Neeraj Chopra has opted out of this Sunday's Paris Diamond League, citing the adductor niggle that has been troubling him for the past couple of months, according to a report. Speaking to 'ESPN', Chopra said he is focussing on training and strengthening his blocking leg.
Are diamonds a good investment option?
Falling prices and an unhealthy secondary market do not make it a good investment.
'Customer' vanishes with rare Rs 4.5 crore diamond after replacing it with lab-grown one
The thief, after checking the diamond, left on the pretext of withdrawing money for the transaction. After he left, the owner's son found out that the thief had replaced the original diamond with a lab-made one.
- Go To Page 1
87 stocks turn multibaggers in resilient Indian market during H1. What's the second half looking like?
Indian market showcases resilience with 87 stocks turning multibaggers in H1. Top performers include Marsons and Tinna Trade. IT and capital goods sectors witness significant growth. Analysts predict positive market trajectory post-Union Budget and US Fed's decisions.
Up to 84,000% returns! 15 multibaggers that turned Rs 1 lakh into at least Rs 50 lakh in 3 years
15 companies show over 5,000% growth, turning Rs 1 lakh into Rs 50 lakh in 3 years. Diamond Power Infrastructure and Dhruva Capital Services lead with up to 84,000% returns. Expert advice urges caution and sector-specific focus for investors eyeing multibagger stocks.
EU defers ban on Russian diamonds by six months
A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would give a further breather to the local diamantaires which constitute the world's largest importer of rough diamonds. According to a statement issued by the Commission on Monday, the ban on import of Russian diamonds would not extend to either rough or polished stones which were there in the EU and other countries (like India) before the beginning of the sanctions in March 2024.
Are lab-grown diamonds forever? Examining their impact on the natural gems business
It’s 2024, and that carefully crafted chain of the diamond business is now being disrupted. Enter lab-grown diamonds (LGD). A lab-grown diamond, priced a fifth of a stone coming from a De Beers mine in Africa or from the Russian giant Alrosa, looks indistinguishable from a mined diamond. That alone has kindled consumer demand.
Make India key node to verify origin of diamonds, Indian officials tell EU
At a meeting in Brussels last month, the Indian trade body, senior government officials and Indian customs officials have told the European Union authorities that India, which imports about 90% of rough stones mined in the world, should be a key nodal checkpoint to verify whether diamonds mined in Russia are sneaking into the affluent markets whose governments are backing the sanctions.
Four lakh workers face salary delays as lab diamond prices fall
Nearly four lakh workers in Surat's LGD industry face wage delays and job uncertainties due to falling prices of lab-grown diamonds, impacting revenue of units. Export demand is not as expected, leading to concerns of job losses. Export volume growth has slowed down, and the value of lab-grown diamonds has fallen significantly.
Gems, jewellery exports fall 5% to Rs 20,713.37 crore in May: GJEPC
However, the total export of gold jewellery saw 13.1 per cent growth at Rs 5,507.71 crore in May 2024 as compared to Rs 4,807.71 crore in the same period a year ago.
Rising gold prices drive Indian consumers towards lab-grown diamonds
The recent rise in gold prices has shifted consumer interest towards lab-grown diamond (LGD) studded jewellery due to its affordability. Major metropolitan areas are witnessing a surge in demand, with growth rates exceeding 15%, particularly in tech-populated cities like Pune. Consumers appreciate the value proposition of LGD jewellery, which offers more gold proportion within the same budget compared to natural diamonds.
India restricts certain studded gold jewellery imports
In a notification, the Directorate General of Foreign Trade (DGFT) brought gold jewellery studded with pearls, diamonds and precious & semi-precious stones in the ‘restricted’ category from ‘free’ with immediate effect which means their import will require a government permit.
Global glut takes shine off Indian lab-grown diamonds
Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
Plain gold jewellery exports increases as overall gems and jewellery exports decline 11.3% in April 2024
The export of plain gold jewellery increased by 27.45% to USD 342.27 million in April 2024. Studded jewellery exports are positive, but cut & polished diamond exports declined. Anticipated growth in diamond and silver jewellery exports is expected post FTAs with UAE, Australia, and EFTA.
Lightbox Jewelry permanently reduces prices for lab-grown diamonds, starting at $500 per carat
De Beers Group's lab-grown diamond jewellery brand, Lightbox Jewelry, has announced a price reduction to $500 per carat for its Standard range of lab-grown diamonds. The move follows months of research and testing. The brand now offers three linear price points: $500 per carat for IJ colour stones, $600 per carat for GH colour stones, and $900 per carat for the highest quality DEF colour stones. All stones have a guaranteed minimum'very good' cut and VS clarity, with DEF stones featuring 'excellent' cut.
Akshay Tritiya: Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers report strong sales
Jewellers from South India such as Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers saw strong demand during this year's Akshay Tritiya. Malabar Gold and Diamonds reported a 39% increase in sales, totaling Rs. 1361 crore. Kalyan Jewellers also noted robust revenue growth, with Bhima Gold experiencing over 50% sales growth compared to last year.
Akshaya Tritiya buyers see the bright side; Q-comm coin deliveries see a hit
Industry executives in Kolkata predict a 20% year-on-year increase in Akshaya Tritiya sales value due to higher gold prices. Lightweight jewellery, including gold and silver coins, accounted for the bulk of demand, with gold trading at ₹72,633 per 10 gm on the auspicious day. Quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart also contributed to the surge in demand, delivering gold and silver coins within 10 minutes.
Gold prices soften ahead of Akshaya Tritiya, boosting jewellers' expectations
Jewellers anticipate rising Akshaya Tritiya sales with lower gold prices. Demand increasing for everyday diamond jewellery and solitaires. Shift in consumer buying pattern towards high quality solitaire diamonds. Silver price growth surpassing gold as dependable asset classes.
Lab-grown diamond exports expected to grow by 7-9% in FY25: Report
The Lab-grown Diamonds (LGDs) exports are set to rebound in FY25, with an expected growth of 7-9% to reach around US$1500-1530 million, as per CareEdge Advisory. Despite recent declines due to falling prices, LGD demand is poised to increase due to factors like cost-effectiveness and environmental sustainability, with India emerging as a key player in the global LGD market.
Indian diamond jewellery market to grow to US$ 17 bn by 2031
Nirav Bhansali, Convener of National Exhibitions at GJEPC, said, “In the gems and jewellery industry, we are not merely purveyors of luxury; we are guardians of tradition, custodians of culture, and champions of craftsmanship. But in order to honor our rich heritage, we must also embrace the winds of change. Today, we are surrounded by the brightest minds and the most promising talents of our industry."
India's polished diamond exports drop 27.5% as key markets falter
The fall in exports forced the world's biggest diamond polisher to reduce imports of rough diamonds by 18% from a year ago to $14.27 billion in the financial year ended March 31, the Gem and Jewellery Export Promotion Council (GJEPC) said.
Indian jewellery bigwigs spread their wings in the US betting on the diaspora
Prominent Indian jewellery brands are expanding in the US despite challenging economic and geopolitical conditions. Luxury brands are capitalizing on the growing market and significant purchases by affluent members of the Indian diaspora. Tanishq, Kalyan Jewellers, and Vummidi Bangaru Jewellers are among those expanding their presence, with Tanishq leading aggressive expansion plans.
Gold price record run pushes Indian jewellers to offer diamond in lower cartage yellow metal
Gold price surge in India has affected diamond jewellery demand in India. Jewellers have switched to 14-carat gold in a bid to cut selling prices and thus not lose out on revenues. The industry has seen a rise in 14-carat options due to gold price increase.
US, European buyers begin asking for source of Indian diamond exports
Indian diamond exporters struggle with rising demands for source declarations from US and Europe, impacting market and exports. Geopolitical tensions add complexity, urging government intervention for resolution and overcoming payment delays from US banks.
Limelight Lab Grown Diamonds receives $1 million investment from two top jewellery houses
Limelight Lab Grown Diamonds received a US$1 million strategic investment to expand brand presence in India, driven by positive customer response and significant sales growth. The company aims for global expansion with a focus on scaling operations.
Top jewellery chains shy away from lab-grown diamonds amid lack of consumer interest
Top jewellery chains like Kalyan Jewellers and Tanishq are hesitant to adopt lab-grown diamonds due to low demand. Despite the growing popularity globally, Indian retailers like Joyalukkas remain cautious about integrating LGDs into their stores.
Load More
