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Towards provenance of luxury goods   Younger generations more interested in ethics and sustainability as  the new status in luxury and are prepared to pay a premium for this   New research published in De Beers Group’s latest Diamond Insight Flash Report highlights that consumer attitudes towards provenance are changing as younger generations value ethics and sustainability assurances beyond simply knowing where a product originated. [Read: latest Diamond Insight Flash Report: https://gjtownindia.blogspot.com/2021/11/latest-diamond-insight-flash-report_20.html ]      Based on research conducted among 1,000 US consumers, the report found that while consumers aged 50 and above cited quality factors as being their most important considerations relating to provenance of luxury goods (for example, French champagne, Italian cashmere), the 18 to 34 age cohort over-indexed on factors such as ‘human rights,’ ‘environmental impact’ and ‘from a company whose va...

Diamond insight Flash report #7 November 2021 Why where and how matter and what gen z has to do with it: Since luxury items have existed, where they came from has been an essential part of their stories: from Persian rugs to Russian caviar, place of origin has suggested something about the innate value and superiority of materials. Luxury brands, particularly the storied European houses, have made provenance coupled with artisanship the overarching narrative explaining the value of their goods. Slowly and then quickly, however, provenance has grown in dimension as well as salience. Previously, provenance was a shorthand for quality and authenticity. Today, people might prefer rugs made in facilities ensuring no child labor or choose caviar sustainably sourced in America.  Provenance has added meaning-the safety and integrity of sourcing, the ecological and ethical implications of its supply chain, the care with which the people who touch or craft a product are treated. No matter th...

  Reports with 4Cs color & clarity specifications   As consumer interest in laboratory-grown diamonds increases, GIA (Gemological Institute of America) is driving its consumer-protection mission forward by introducing LGDR by GIA, a family of four new digital-only reports for laboratory-grown diamonds with 4Cs color and clarity specifications replacing the descriptive terms and grade ranges previously used on GIA reports for laboratory-grown diamonds.   “The evolution of GIA’s reports for laboratory-grown diamonds is fully aligned with our mission to protect all consumers,” said Susan Jacques, GIA president and CEO. “Everyone who purchases gemstone jewelry- whether natural or laboratory-grown, expects and deserves the information, confidence and protection that come with a GIA report.”   Available today, Oct. 13, the four LGDR by GIA reports feature a distinct new look and updated format fully differentiated from GIA’s well-known grading reports for natural...

AWDC publishes 8 th diamond report LGD to shrink diamond Demand over 5% by 2030 The eighth annual report on the global diamond industry is prepared by the Antwerp World Diamond Centre (AWDC) and Bain & Company. This year’s edition covers industry developments in 2017 and the first half of 2018 and takes a close look at key industry trends.   The report begin with important developments along the value chain. In subsequent sections, we review factors that influenced rough diamond production and sales, midstream performance and global diamond jewelry demand in major markets. It also provides an update on the long-term outlook for the diamond industry through 2030. The 2030 supply-demand forecast considers announced production plans, recent changes in mining operations, potential additional sources of supply, expected changes in global and regional macroeconomic parameters, and potential effects of lab-grown diamonds. Readers looking for a brief overview...

LMHC makes progress on harmonisation of Colour description and new treatment issues Significant achievements in the harmonisation of wording on laboratory reports and the reporting of new treatments have been chalked up during the 29th meeting of the Laboratory Manual Harmonisation Committee (LMHC), which was hosted by the Gübelin Gem Lab in Lucerne, Switzerland, on November 14, and 15, 2018. The LMHC is currently comprised of representatives from the Central Gem Laboratory (CGL), CISGEM Laboratory, DSEF German Gem Lab, Gübelin Gem Lab, GIA Gem Laboratory, the Gem and Jewelry Institute of Thailand (GIT) and the Swiss Gemmological Institute SSEF. The organisation is not formally connected to any trade organisation. During the meeting, the LMHC members agreed to modify info sheet No. 4, concerning the use of the term "padparadscha." The info sheet now specifies that the term is not applicable if the colour of the stone is unstable and shifts to pink when ex...

GSI, one of the largest gemological organizations in the world, has opened a new laboratory in Hong Kong. The new facility will serve its international customer base and will offer easy and complete access to GSI’s numerous laboratory services. GSI's Hong Kong office will offer a variety of services from grading loose diamonds and jewelry to screening and testing jewelry for undisclosed lab grown diamonds. "Hong Kong is a major hub for the international diamond and jewelry Industry. With the opening of GSI Hong Kong, GSI has its laboratories in every major diamond and jewelry center across the globe.” said Debbie Azar, GSI President & Co-Founder. GSI’s new facility is located at Kaiser Estate Phase 1, 37-45 Man Yue Street Hunghom KL Hong Kong Ste. A3 (5th floor), +852-21229378.

Gen Z and Millennials now account for two-thirds of Global diamond jewellery demands as sales reach record high   Millennials already represent majority of Global demand while Gen Z is set to be even bigger De Beers publishes The Diamond Insight Report 2018! The Millennial and Gen Z generations combined accounted for two-thirds of global diamond jewellery sales in 2017, as diamond jewellery demand reached a new record high of US$82 billion, according to data published today by De Beers Group in its latest Diamond Insight Report. Millennials, those people currently aged 21 to 39, represent 29 per cent of the world’s population and are the current largest group of diamond consumers. They accounted for almost 60 per cent of diamond jewellery demand in the US in 2017 and nearly 80 per cent in China. Gen Z, those currently aged up to 20, is an even larger consumer generation - representing 35 per cent of the world’s population and will come of age as diamond...