GJ Town India

1.08 carat diamond and 0.25 carat Type IIa diamond recovered from L071 sample   Lucapa Diamond Company provides an update on kimberlite exploration at the Lulo diamond project in Angola. The kimberlite exploration program is designed to discover the primary hard-rock source(s) of the exceptional alluvial diamonds being mined in the greater Cacuilo valley.   The kimberlite bulk samples from L071, which is located in the Canguige catchment area, have now been treated. The sample totalling 2,380 bulked m3 was positive for diamonds, recovering two diamonds for a total weight of 1.33 carats. The largest is a 1.08 carat diamond and the second is a 0.25 carat Type IIa diamond.   The excavation and extraction of bulk samples from the remaining priority kimberlites and testing of anomalies of interest continues within the Canguige catchment area in our efforts to process as many bulk samples as possible this dry season and to identify the source of the diamonds recovered in the Cangui

  ASEAN-India Business Council virtual meet! $300 bn trade target set at India & ASEAN!   Commerce and Industry Minister Shri Piyush Goyal said that 3Cs- Cooperation, Collaboration and Commitment, will guide the strategic partnership between India and ASEAN countries. Addressing the ASEAN-India Business Council virtual meet, Shri Goyal said the Covid-19 pandemic period provided a unique opportunity to India to demonstrate itself as the trusted partner to the world, particularly in times of stress. Shri Goyal extended a hand of friendship to the ASEAN region, which he described as deep and valuable partners, and partners in the progress. The Minister said that Atmanirbhar Bharat connotes a self-reliant country which is ready to engage with the world from the position of strength and confidence, and on equal and fair terms.   He said that India and ASEAN have not been able to harness the full trade potential, for various reasons, but now is the time to open matrix to expand trad

  Tiffany Reports Significant Improvement in Sales Trajectory and Profitability!   Tiffany & Co reported its financial results for the three months that is 2Q & 1H ended July 31, 2020. The Company returned to profitability during the second quarter of 2020 behind meaningful sequential improvements in monthly worldwide net sales from May to July.   Worldwide net sales for the quarter were 29% below the second quarter of the prior year, after having been down 45% during the three months ended April 30, 2020 (“first quarter”) as compared to the prior year, on an as reported basis, with a similar improvement on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars (see “Non-GAAP Measures”).   Worldwide net sales in the first half were 37% below the first half of the prior year. These declines, a result of the continui quarter, namely, increased sales in Mainland China and global e-commerce, accelerated

  Recently Platinum Guild International (PGI) reported Platinum Jewellery Business Review (PJBR) for the 2Q 2020. The report says China’s GDP grew in Q2 showing an impressive post COVID-19 recovery. The decline of jewellery sales eased after lockdown measures were lifted in most cities. Platinum fabrication returned to positive growth in Q2, thanks to new product launches, promotions and PGI’s Reboot against a backdrop of positive metal pricing.   India’s store traffic and consumer demand dropped significantly as the majority of the jewellery business was closed. Once business resumes, platinum jewellery is likely to benefit from retailers’ focus on high margin categories and a conversion of gold customers to optimise return.   COVID-19’s economic impact is severe in Japan, but the government's cash hand-outs and an easing of the State of Emergency in late May supported a consumption recovery in June. Jewellery sales were dismal; however platinum was still performing best amon

  NDC to debut new campaign on 14th September week!   David Kellie, CEO, Natural Diamond Council inks, As we approach our three-month anniversary as the Natural Diamond Council I wanted to give you, our stakeholders, an update on our progress and a preview of our new Q4 2020 advertising campaign that we’ll be announcing in three weeks.   In the eight months since I took over in this role, the world and our industry has lived through unprecedented challenges. Never before has our generation faced such threats to our health, the economy and the way of life that we are used to. I have been incredibly impressed by how our industry has come together to support each other amid this crisis. More optimistically, it has also made me realize just how close we are to creating a new generation of consumers with a passion for diamond jewelry and the potential for our industry to grow significantly over the next five years. Since launching the Natural Diamond Council on 1st June we’ve seen con

  MCA maiden success from USA   Punjab National Bank Ltd. (PNB) has informed the Ministry of Corporate Affairs (MCA) which spearheaded the corporate governance litigation in a foreign jurisdictional Court, that it has received $ 3.25 million (equivalent of Rs. 24.33 crore) as the first tranche of recoveries. Upon liquidation of the debtors’ assets by the US Chapter 11 Trustee, a sum of $ 11.04 million (equivalent of Rs. 82.66 crore) is available for distribution to unsecured creditors including PNB. Further recovery therefrom is subject to other expenses and settlement of claims of other claimants.   The maiden repatriation of $ 3.25 million is an unprecedented achievement of the Government of India, Ministry of Corporate Affairs in its fight against corporate fraud in overseas territory. The Ministry also has initiated proceedings for disgorgement of monies from the perpetrators, i.e., the entities promoted and/or controlled by Nirav Modi/ Mehul Choksi. Punjab National Bank Ltd.in

  Center stage with a new collection   Bernhard Lederer, inceptor of numerous breakthroughs in watchmaking and creator of extraordinary tourbillons, returns to center stage with a new collection entitled ‘Tribute to the Masters of Escapements,’ a limited series of precision chronometers designed and developed to honor those who set true milestones in the advancement of an horological invention that remains as crucial and fascinating as ever.   After years of research, the watchmaker, incidentally one of the first members of the AHCI (Académie Horlogère des Créateurs Indépendants, an association with the mission to perpetuate the art of independent watch and clockmaking), brings to fruition the principle of the natural escapement with two 10-second constant-force mechanisms as conceived by John Harrison in 1756.   The Central Impulse Chronometer by Bernhard Lederer: a sleek watch with a movement of exceptional complexity, the result of unimagined development efforts and a testamen

  SPS on stimulating demand for silver jewelry   The Silver Institute’s Silver Promotion Service (SPS), which is focused on stimulating demand for silver jewelry in major international markets, announced today the launch of its all-new Virtual Silver Pavilion leading silver designers and gain access to information and trends, all from the safety and comfort of their own homes, inspired by reon the SPS website. Members of the jewelry trade can browse the latest designs from cent consumer research identifying pent-up demand for jewelry, as well as robust purchase intention for silver jewelry specifically; this digital platform will showcase “must-have” new silver styles available for purchase.   The pandemic related cancellations of 2020 trade shows, coupled with recent “Silver Linings” research confirming consumer purchase intention for silver jewelry, inspired the SPS to create a digital platform for Savor Silver brands to showcase their newest designs to retailers and the press.  B

Endeavours to stabilize polished prices   India being the global leader in diamonds, it produces 14 out of 15 diamonds set in jewellery worldwide and polishes one billion stones each year. In FY 2019, India’s major export markets for cut & polished diamonds were USA ($6,960.09 million), Hong Kong ($6,381.97 million), Middle East ($2113.63 million), Europe ($1,534.50 million).   Although the year 2020 is reminiscent of the recession period of 2008-09 when the Indian diamond industry collectively and voluntarily decided to halt imports of rough for a month or so to ease pressure on the overburdened pipeline.   This time though, multiple calls were taken month on month starting in April, to review the  spread of the pandemic and the danger it posed to lives, before taking a call to restart the units, which had come to a grinding halt in March following the nationwide lockdown.   In a true spirit of solidarity, the industry, led by the Gem & Jewellery Export Promotion Counc

  Forevermark unveils its Trend Report for 2020. Developed at Forevermark’s Design and Innovation Centre in Milan, four key themes have been identified to inspire and shape desire for diamonds in 2020.   “From finding personal fulfilment, and creating meaningful design, to protecting our precious planet, and the value of empowerment and acceptance, the Forevermark 2020 Trend Book speaks to important truths about the choices we make as we live our lives and the legacy we wish to leave.” says Federica Imperiali, Head of New Product Development at Forevermark. “Across four inspiring trends, these essential concepts are translated into a rich array of design solutions at the very heart of which sit beautiful, rare and responsibly sourced Forevermark diamonds.”  Spring/Summer 2020 Trends:  Urban Nature: The challenges our planet currently faces have opened a space for design that addresses important topics such as climate change, sustainability and the protection of endangered habitats an

  Céline Assimon to the business on 1 September   De Beers Group announced that Céline Assimon will succeed François Delage as Chief Executive Officer of De Beers Jewellers. After a decade at the helm of De Beers Jewellers, François will step down as CEO at the end of September, with Céline joining the business on 1 September to ensure a seamless transition of leadership.   Céline has a strong track record as a creative and inspirational leader with extensive global experience across marketing, sales and merchandising in the high-end jewellery and luxury sector. As Worldwide Head of High Jewellery and High Watchmaking Sales at Louis Vuitton, and later on with Piaget as their High Jewellery and Exceptional Pieces Director, Céline has successfully led the commercial development of these brands’ global footprints, with a focus on the most discerning clients. Céline was most recently CEO at luxury brand de Grisogono. Stephen Lussier, Chairman of De Beers Jewellers and Executive Vice Pr

  MHA asks States to allow..!                 MHA asks States to allow unhindered movement of persons and goods and services during Unlock-3! The Centre has asked the States that there should be no restrictions imposed on inter-State and intra-State movement of persons and goods and services during the present prevailing Unlock-3 guidelines. In a communication to Chief Secretaries of all States today, the Union Ministry of Home Affairs (MHA) has stated that it has been reported that local level restrictions on movement are being imposed by various districts/States.  Such restrictions are creating problems in inter-State movement of goods and services and are impacting the supply chain, resulting in disruption of economic activities and employment, besides affecting supply of goods and services.   The MHA has said such restrictions at local level imposed by District Administrations or by States, amount to violation of the guidelines issued by the MHA under the provisions of the Disast