GJ Town India

Conversations with Industry Leaders on March 28    IDMA Congress to be held during the afternoon of March 28 at the D-Mall, participants will be discussing, among other topics, the State of the Diamond Market, including the diamond and diamond jewelry retail markets in the U.S., and the relationship – or the lack thereof - between diamonds and LGDs.   One of the modules of the Conversations with Industry Leaders to be held during the 40th IDMA Congress in the afternoon of March 28 will revolve around, Financing and Technology in the Diamond industry.  Three conversation participants will share the stage: Pranay Narvekar of Pharos Beam Consulting, a renowned diamond industry analyst; Ophir Gore, Director of Diamonds, Precious Stones & Jewelry Administration at Ministry of Economy & Industry, Israel; and David Block, CEO of Sarine Technologies.    The three will discuss the industry's financial health, the changing landscape of the financial inst...

Appoints Jimmy Gove with immediate effect   Leading diamond and gemstone security specialist, Opsydia, has announced the appointment of Jimmy Gove to the position of Sales and Marketing Director, effective immediately.   Gove brings to Opsydia more than a decade of experience and knowledge in the diamond, gemstone and jewellery industries. He most recently served as Digital Projects Manager at Bonas Group in London, the world’s largest independent diamond and gemstone tender/auction house.   Before this he spent almost eight years in Antwerp where he developed and managed the Group’s digital transformation strategy, as well as its tender/auction sales and analytics platform used by international mining companies and private sellers. At Bonas he also worked closely with large diamond and jewellery companies throughout the value chain in Europe, USA, UAE and India as a Senior Consultant and De Beers Broker. He holds a master’s degree in Architecture from Emmanuel Coll...

Sarine revenue 52% to US$62.1 million   Update 1: Sarine Technologies Ltd announce its full year FY2021 results for the 12 months ended 31 December 2021. Its review of FY202 refers, the lockdowns following the onset of Covid-19 in H1 2020 disrupted diamond manufacturing activities in India and retailing activities throughout the world. With the gradual resumption of retailing activities in H2 2020, the diamond industry rebounded in late 2020 and this positive momentum carried over into 2021.   The pent up demand, continuing restrictions on international travel and fiscal stimulus by many governments contributed to strong consumer demand for diamond jewellery in 2021. With overall positive business conditions for most of FY2021 and the strong resurgence of diamond manufacturing activities, Group revenue rose 52% to US$62.1 million, benefiting from increased capital equipment sales and higher recurring revenues, primarily from Galaxy inclusion scanning revenues, which rose 4...

Scheduled on Thursday, January 14, 2021   Sarine Technologies Ltd announces that David Block, the Group’s Chief Executive Officer, will present virtually at the 23rd Annual Needham Growth Conference on Thursday, January 14, 2021 at 8:30 am EST. Mr. Block will be available for one-on-one investor meetings during the conference. The 23rd Annual Needham Growth Conference (NGC) will provide institutional, private equity and venture capital investors with access to growth companies from a broad range of industries including communications & enterprise infrastructure; healthcare; industrial technology; Internet, entertainment & consumer; semiconductors & semiconductor equipment; and software & services.   Established in 1988, Sarine Technologies Ltd is a worldwide leader in the development and manufacturing of advanced modeling, analysis, evaluation, planning, processing, finishing, grading and trading systems for diamonds.   Sarine products include the Galaxy...

3D Jewellery Imaging, With no capital investment! Sarine Technologies Ltd is now offering a new simple, automated and extremely cost-effective imaging and visualisation service with interactive personalisation functionality to jewellery suppliers and retailers. Verto, an Israeli start-up, has developed an innovative imaging solution that generates high quality interactive video displays, derived automatically from but a handful of images captured by any common smartphone. Verto’s solution enables jewellery manufacturers, wholesalers and retailers to provide their customers with exceptionally high-quality video visualisation of the jewellery pieces, along with interactive capabilities to view the piece from multiple perspectives and personalise the setting as well as the types, sizes, and colours of stones, etc, with no need for capital investment in high-end devices, expensive professional photographers or exhaustive manual finishing. The combination of the imagery...

Polished diamond retail contributes just under 3% of overall revenue! Books net loss of US$1.4 mn in Q1 Recently Sarine Technologies Ltd announced its financial results for the first quarter (Q1) ended 31 March 2019 that say, “a record deliveries of 33 Galaxy family systems to customers in India increased total installed base to 443 as of 31 March 2019.” In Q1 2019, the working capital issues experienced by midstream diamond manufacturers in India was exacerbated by the banks’ call for return of some of the already extended credit. Combined with negative sentiments arising from uncertainties surrounding lab-grown diamonds (LGD) and ongoing trade disputes between the U.S. and China, the midstream diamond industry saw a reduction in manufacturing activities and capital investment. Consequently, the Group recorded a 34% decline year over year (YoY) in Group revenue to US$10.9 million due to lower capital equipment sales and reduced recurring income from inclusio...

Diamond industry midstream Faces a reduction in manufacturing! Advent of LGD drives adverse! Halts capital equipment expenditures! By updating the Group’s revenues and profitability for Q1 2019, Sarine Technologies Ltd says, “In our FY2018, we noted that the prevailing negatives in the diamond industry midstream, which impaired our results in the latter part of 2018, were likely to continue into FY2019. Indeed, during Q1 2019 our midstream customers not only continued to experience working capital issues due to credit tightening policies implemented by Indian banks but also had to meet the latter’s call for return of some of the already extended credit by the Indian fiscal year’s end on 31 March 2019. In addition, the uncertainties caused by the advent of lab-grown diamonds (LGD) in the market, notwithstanding the U.S. Federal Trade Commission’s (FTC) latest criticism of certain players’ lax implementation of their directives on the full disclosure of the diamon...

Sarine Diamond Journey Japan! Sarine Technologies announces that New Art Cima Ltd. is introducing the Sarine Diamond Journey as a centrepiece of its new marketing campaign and consumer experience. The Sarine Diamond Journey focuses on the story of the diamond from its origin and rough structure until its final polished form. The provided graphic and video depictions provide today's consumers with a unique experience and the full transparency they seek from a respected brand in an intuitive format. The diamond's actual transition through its various stages of cutting, shaping and polishing is chronicled with actual visual imagery captured throughout the manufacturing process by Sarine's cutting edge systems. Sarine's provenance offering is unique in that only it is able to accurately and efficiently provide true high-quality information directly derived from the actual technology utilised during the various processes involved in the manufacture of the mo...

LGD market could grow between 10 to 17 mn cts by 2030 Lab-grown diamonds (LGD) have existed for more than 60 years, with limited effect on the natural gem-quality market. But advancements in technology have pushed the lab-grown market into a more competitive position. Most notably, new chemical vapor deposition (CVD) technology deeply cut the cost to produce larger, higher-quality diamonds. Today, it costs $300 to $500 per carat to produce a CVD lab-grown diamond, compared with $4,000 per carat in 2008.   As production costs have dropped, retail prices have followed. The retail price of gem-quality lab-grown diamonds have nearly halved in the past two years, while wholesale prices dropped threefold. Prices are expected to decrease even further as production efficiencies increase, new competitors enter the market and the segment commoditizes. Lab-grown diamond producers have two options:1: to pursue gem-quality production for retail jewelry sales or to produce diam...

Testing for pearls, gemstones and jewellery items at September HK Fair Danat is raring to introduce its services to the gemstone and jewellery (GJ) industry during the September Fair, “The June Fair was Danat’s first official participation in an international exhibition. We have set a personal benchmark, which is something the trade now expects from Danat in all future participations,” Danat CEO Kenneth Scarratt says. “For the September Fair, we will build upon that and provide on-site testing for pearls, gemstones and jewellery items. We will be hosting lectures presented by Danat’s Field Gemmologists highlighting recent gemmological expeditions, and we will also be showcasing items of jewellery, which we believe will be a big attraction.” Meanwhile, the Gemmological Association of Hong Kong (GAHK) says it is co-organising the “Launching of standard methods for testing Fei Cui for Hong Kong – Chinese Version and academic conference of GAHK 2018 – coloured gemsto...