Global Changes, Local Insights, and Future Opportunities
Vladimír Kondratěnko
Brief overview of the diamond industry in 2024 including key themes and objectives of this analysis
Overview of market corrections, supply chain evolution, and changing consumer preferences shaping the global diamond sector
Impact of Lab-Grown Diamonds
Examining the rapid rise of laboratory-created diamonds, their sustainability, and challenges they present to the natural diamond market
Fancy Color Diamonds in 2024
Year-round price development review from the Fancy Color Research Foundation focusing on yellow, pink, and blue diamonds
Focus on European markets
Closer look at regional trends, including G7 sanctions, consumer behavior, and digital transformation in Europe and the Czech Republic
Global Luxury Goods Market
Overview of luxury sector developments and their impact on the diamond industry during a turbulent year
Growth & Innovation at Arete
Overview of major milestones, new tools, and international initiatives by Arete to support its wholesale clients
Strategic Outlook 2025
Forward-looking analysis of tightening sanctions, online marketing strategies, and best practices for success in 2025
Key insights from market developments in 2024, emphasizing how jewelers can remain resilient in turbulent times and leverage new Arete projects for business growth
The global diamond industry experienced a transformative year in 2024, characterized by significant market corrections and structural changes that impacted all participants. Natural diamond prices reached multi-year lows following the post-pandemic surge, with certified polished diamond prices declining approximately 15-20% throughout the year The fourth quarter, however, showed signs of price stabilization.
Most significantly, as reported in December 2024, De Beers Group has accumulated its largest diamond stockpile since the 2008 financial crisis, valued at approximately $2 billion This substantial inventory buildup, which has persisted throughout much of the year, reflects deeper challenges in the market, including weakened Chinese demand and increased competition from lab-grown alternatives
Strategic Production Control
In response to these challenges, major producers implemented strategic production controls, with total production reaching approximately 105 million carats - marking the lowest production volume since 1995 De Beers' decision to reduce rough diamond prices by 1015% in December signaled a shift in market dynamics and acknowledged the need to align rough diamond prices with polished market realities
The lab-grown diamond segment continued its evolution, achieving roughly a 25% market share by value compared to natural diamonds This segment experienced significant price corrections at wholesale and retail levels in developed markets, while in the Czech Republic, retail price changes are expected to follow with a characteristic 12-18 month delay.
Changing Consumer Behavior
2024Diamond IndustryAnnual Review
A Year of Transformation
Consumer behavior showed marked changes throughout 2024 While the U S market demonstrated resilience (jewelry sales increased by 2.5% in November), China recorded a dramatic decline, with diamond jewelry demand decreasing by up to 50% This regional variability shifted global market dynamics, with India emerging as the second-largest consumer market.
Digital transformation became increasingly crucial as approximately 18-21% of jewelry transactions moved online, often driven by omnichannel marketing strategies focused on Instagram, combining visual appeal with educational insights about topics such as labgrown diamond identification Retailers have found that excessive promotion of lab-grown diamonds as entirely ethical and sustainable can backfire once consumers learn about the facts of their production
Arete in 2024
The year 2024 marked important milestones in our dynamic journey:
Successful launch of Arete Tools, expanding to more than 16 countries with specialized gemological equipment
Strengthened international presence through strategic trade show participation
Continued emphasis on industry leadership position in the Czech Republic through advanced workshops
Development of next-generation digital infrastructure with the upcoming AreteApp Diamond Marketplace section
Looking Ahead to 2025
Several factors are expected to shape the industry:
Tightening of sanctions against Russian diamonds from March 2025 (affecting more diamond sizes than before)
Further retail price corrections for lab-grown diamonds in emerging markets
Growing importance of digital presentation and marketing investments, especially through Instagram and other social channels
Emphasis on supply chain transparency and sustainability
For jewelers to succeed in this evolving environment, careful attention to inventory management, clear differentiation of natural and lab-grown diamond values, and strong digital capabilities are essential The coming year brings both challenges and opportunities, particularly for those who combine traditional expertise with modern retail approaches
The diamond industry reached an inflection point in 2024, with prices of natural certified polished diamonds (0.30 ct and above) declining by 15-20% as part of a broader market restructuring While challenging, this correction began to support more sustainable market conditions Data from the fourth quarter indicates emerging price stability, particularly in specific categories such as 1-carat natural polished diamonds Fancy natural diamonds demonstrated resilience to market fluctuations, with price increases of up to 2.1% in certain segments
Market Dynamics and Price Trends
The strategic management of rough diamond supply became paramount, with global production falling to 105 million carats Major producers, led by De Beers, took decisive steps to align rough diamond prices with market reality through a 1015% price reduction in December This adjustment came as average consumer spending on finished jewelry showed encouraging signs, rising by 6.5% despite the challenging economic environment
The retail environment exhibits increasingly complex segmentation While lab-grown diamonds have gained up to a 25% market share by value in sales according to some analyses, their impact varies significantly across markets In developed Western markets, retail prices for lab-grown diamonds have seen considerable corrections Jewelry sales revenue for lab-grown diamonds in the USA decreased by 10.6% while the number of pieces sold increased by 35% year-over-year Many jewelers in the USA are beginning to return to natural diamonds.
Strategické dopady na trh
Traditional market patterns are rapidly evolving Natural diamond retailers have largely pivoted towards higher-value pieces in the luxury segment They have abandoned the entry-level jewelry segment, which has been captured by laboratorygrown diamonds, now widely available due to significant price compression. The diamond jewelry market is experiencing pronounced polarization. This trend is already evident in the US market and is expected to reach other markets with the typical lag time This strategic shift comes at a time when fancy colored diamonds are showing remarkable strength. Pink diamonds have appreciated by nearly 400% since 2005, demonstrating sustained demand for unique and rare stones
GlobalDiamond MarketAnalysis 2024
Market Corrections and Structural Changes
Digital transformation has become imperative, with online jewelry sales accounting for 18-21% of transactions. However, the true impact of digital technologies extends beyond direct salesNovember data indicates that even traditional brick-and-mortar purchases are increasingly influenced by online research and social media engagement, particularly through visual platforms like Instagram.
Forward-Looking Indicators
The industry faces additional regulatory constraints in 2025 with expanded Russian sanctions affecting diamonds from 0.50 to 1.00 carat This regulatory development, combined with reported shifts in consumer behavior towards higher clarity grades (VS and above) in natural diamonds, indicates an increasing market focus on quality and provenance.
Recent data from US retailers suggests a growing bifurcation in consumer preferences. While the overall jewelry market demonstrated resilience with a 2 5% revenue increase in November, gains were not uniform across segments High-quality natural diamonds and affordable laboratory-grown pieces showed particular strength, while mid-market offerings faced more challenging conditions
The retail environment underwent a significant transformation in 2024, shaped by changing consumer preferences and rapid technological advancement Digital channels have become vital, with online transactions representing an increasingly significant share of total revenue Omnichannel marketing, particularly on Instagram, has emerged as the primary strategy, combining engaging visual elements with educational content about natural and laboratorygrown diamonds.
For jewelers today, building a strong and credible brand is essential. Long-term success in the diamond industry doesn't come from short-term gains achieved through misleading sustainability claims, but from building strong customer relationships based on trust and transparency.
While misleading advertising and false claims may boost sales in the short term, they ultimately damage brand reputation and diminish consumer trust
Conversely, an honest and transparent approach to sustainability and ethical business practices builds customer trust and loyalty, which is crucial for long-term growth and prosperity
Regional Insights
North America
Demonstrated resilience during the holiday season, with average jewelry spending in November showing a yearover-year increase of 4 6%
India
Emerged as the secondlargest consumer market, helping to offset slower demand in other regions.
China
Experienced a significant slowdown, with diamond jewelry demand declining by up to 50% This sharp decrease reflects both economic challenges and the government's recent crackdown on luxury lifestyle content and "wealth-flaunting" on social media, fundamentally altering how luxury goods, including diamond jewelry, are promoted and perceived in the Chinese market
The laboratory-grown diamond segment expanded rapidly in 2024, reaching up to 25% market share by value compared to natural diamonds The price differential between natural and laboratory-grown diamonds has increased to 80-90% for comparable carat weights, clarity grades, and color grades This has resulted in the creation of two distinct consumer segments. While the unit sales of laboratory-grown diamonds recorded a 50% increase in November, average expenditure decreased by approximately 10 6% due to continued price compression
Laboratory-grown diamonds, also referred to as synthetic diamonds, are produced using advanced technological processes that replicate either high pressure, high temperature (HPHT) conditions under which natural diamonds form, or through chemical vapor deposition (CVD). While they share similar physical, optical, and chemical properties with natural diamonds, they can be distinguished through specialized gemological testing
Laboratory-Grown Diamonds: Challenging the Environmental Sustainability Myth
Laboratory-grown diamonds largely dominate the "eco-friendly" narrative in media and marketing, which is often misleading. Despite certain claims, only a fraction of laboratory-grown diamonds can be genuinely considered low-emission or sustainably produced, particularly considering the high energy requirements for production in regions like China and India. Many manufacturers face criticism for greenwashing, presenting their products as entirely ethical and carbon-neutral while their actual carbon footprint may be substantial
From an ethical perspective, there exists a broader social issue: If laboratory-grown diamonds significantly cannibalize the natural diamond market, millions of jobs could be at risk in African countries where natural diamond mining forms the foundation of economic growth Botswana serves as the prime example At the Facets 2024 conference in Antwerp, Botswana's president emphasized how diamond exports have transformed the local economy and warned of potential impacts if demand for natural diamonds drastically declines
Ethical Concerns with Laboratory-Grown Diamonds
Laboratory-grown diamonds, though often promoted as a sustainable and ethical alternative, have significant socioeconomic impacts that are frequently overlooked in public discourse. A primary concern is the potential job losses in diamond-mining regions, particularly in African countries such as Botswana, Angola, and Namibia, where diamond mining plays a central role in national economies and local livelihoods
Key Points:
1 Economic Dependence: Countries like Botswana have developed robust and ethical mining practices and heavily rely on diamond revenues to fund public services such as education, healthcare, and infrastructure development
2 Modern Mining Standards: Today's diamond mining industry operates under strict ethical standards ensuring fair wages, safe working conditions, and environmental oversight, far removed from colonial-era exploitative practices.
3 Negative Ripple Effects: Reduced demand for natural diamonds could directly lead to mine closures and job losses, further deepening poverty and inequality in these regions. This impact could destabilize local economies and impede development
Throughout 2024, the Fancy Color Diamond Index (FCDI) exhibited overall stability, underscoring the enduring appeal of fancy color diamonds even during broader market uncertainties. By the end of the third quarter, the FCDI recorded a cumulative year-over-year decline of approximately 1 0%, representing a relatively modest adjustment compared to fluctuations in other sectors
FancyColor Diamondsin2024
Demonstrated Overall Price Stability
Key Insights
Overall Performance:
Modest price decreases across all colors and sizes, with declines generally remaining below 1% per quarter
Long-term data since 2005 shows continued resilience, with overall growth exceeding 200% for fancy color diamonds
Concluded the period with a year-over-year decline of approximately 3 5%, reflecting the weakest performance among the three main color categories
Certain segments, such as Fancy Vivid Yellow in lower carat weights, recorded modest gains, highlighting selective demand for stones with higher color intensity
Blue Diamonds:
The Fancy Vivid Pink subcategory (particularly in sizes 3 carats and above) occasionally showed increases exceeding 2 0%, offsetting minor declines elsewhere
Overall Market Impact
Despite quarterly fluctuations, the fancy color diamond market demonstrated remarkable resilience in 2024 Some pink and vivid yellow segments performed exceptionally well, indicating sustained demand for stones with higher color intensity Meanwhile, yellow diamonds generally declined while blue diamonds showed mixed results According to FCRF analysts, these patterns reflect a combination of economic factors, changing consumer preferences, and the inherent rarity of vivid fancy color diamonds.
Recorded a -1 7% change over the last 12 months, with variations depending on size and color intensity
Certain segments, such as 8-carat blue and 8carat Fancy Vivid Blue diamonds, showed slight improvement, emphasizing selective buyer interest
The European luxury market, including the diamond segment, is undergoing significant transformation in 2024. Despite global slowdown, some European markets show surprising resilience, primarily due to strong domestic demand.
FocusonEuropean Markets
Resilience of Local Markets During Global Slowdown
European Context
The European luxury goods market is adapting to new conditions throughout 2024 Customer demographics have changed significantly - while the number of Russian clients has markedly decreased, tourists from Asia, particularly China, are gradually returning, albeit in smaller numbers than pre-pandemic.
A key factor is the growing importance of local clientele European consumers, especially in premium segments, demonstrate stable interest in luxury goods, including fine jewelry. This trend is particularly evident in traditional luxury destinations such as Paris, Milan, and London, where local customers partially compensate for decreased tourism revenue
Czech Market
The Czech luxury brand market, concentrated in Prague's Pařížská Street, is characterized by the dominance of multinational companies. In jewelry and diamond retail, only a few Czech companies operate alongside international brands, primarily ALO diamonds with two boutiques
Despite economic slowdown, this segment shows remarkable stability Louis Vuitton Czech Republic achieved record net profits of nearly 300 million crowns in 2023, with revenues exceeding one billion crowns In fine jewelry and diamond sales, branded retailers maintain stable interest, mainly due to strengthened domestic clientele A fundamental shift is the reorientation toward domestic customers According to current data, Czech clients now represent up to 85% of luxury brand revenues, marking a significant departure from previous dependence on foreign tourists.
Differing Dynamics Between Branded and Non-Branded Retailers
In 2024, the Czech market shows a growing performance gap between branded and nonbranded jewelry and diamond retailers While established luxury brands maintain stable revenues, traditional jewelry companies without strong branding and marketing strategies face declining sales.
This trend is particularly evident in the diamond jewelry segment Non-branded jewelers, who previously relied primarily on personal recommendations and long-term market presence, are now losing market share to branded stores. This is mainly due to changing consumer behavior, with customers increasingly considering brand prestige, digital presence, and overall shopping experience when selecting luxury goods
Brand building and digital presence play crucial roles. Jewelry stores and luxury brands that consistently invest in brand development and online visibility demonstrate more stable sales than those lagging in these areas. In the jewelry and watch segment, for example, Carollinum expects to exceed one billion crowns in revenue in 2024.
Growing Gap Between Branded and Non-Branded Jewelry Retailers
The lag behind global trends provides retailers time for adaptation. This is particularly evident in the laboratory-grown diamond segment, where the Czech market has not yet experienced the dramatic price decline observed in Western markets While the global market in 2024 witnessed several significant bankruptcies of companies specializing exclusively in laboratorygrown diamonds due to sharp price declines, the Czech retail market still maintains significantly higher price levels. However, this time lag may pose a risk for Czech retailers who hold substantial inventory of laboratory-grown diamonds purchased at higher prices or have based their business strategy on this segment The expected price correction, likely to impact the Czech market within 12-18 months, could be financially challenging for these retailers
The Czech luxury goods market demonstrates surprising resilience in 2024. The key to success lies in adapting to the changed customer structure with greater emphasis on local clientele, investing in digital transformation, and building strong brands Czech market specifics include a high proportion of domestic customers and certain lag behind global trends, providing space for strategic adaptation
A particularly significant trend is the growing gap between the success of branded and nonbranded jewelry and diamond retailers While branded retailers benefit from investments in marketing and brand building, non-branded jewelers face challenges related to changing consumer preferences This development suggests that investing in brand building and modern sales channels is no longer optional but a necessary prerequisite for success in the current market.
The Facets 2024 conference in represented far more than just an ann for the global diamond industry It platform where industry leader acknowledged strategic shortcomings decades and presented concret correction. With over 500 delega the world, the conference fo challenges facing the industry, strategies to geopolitical changes.
Marketing Strategy Transf
One of the conference's mo moments was the frank acknowle industry's marketing failure. David Natural Diamond Council, em "nobody sees value in marketing un it " These words resonated with th past 15 years, where the absen marketing after De Beers ended its campaigns in the 1990s created a vacuum in communicating natural diamonds' value
Facets2024
To address this situation, an ambitious plan was presented to increase the NDC's marketing budget by $65 million, which would restore the total annual budget to $100 million The innovative aspect is primarily the funding mechanism - introducing a 0 05% fee on rough diamond imports, to be implemented in cooperation with major diamond centers in Antwerp, Dubai, and India
Structural Changes in Supply Chain
De Beers announced significant changes to its distribution strategy for 2025 The company is reducing the number of Sightholders and decreasing total allocations by 20-30% in value. New rules require more balanced purchase distribution between half-years (50/50) and establish a minimum annual purchase of $15 million These changes signal efforts to consolidate and strengthen supply chain stability.
Al Cook, CEO of De Beers, emphasized the need for collective responsibility in promoting natural diamonds during his presentation "We cannot leave marketing solely to De Beers and Botswana," Cook stated. "We need everyone to engage in promoting natural diamonds " A significant breakthrough was Botswana's announcement of creating its own certification node for diamonds destined for G7 markets This move represents a departure from the original plan of a single control point in Antwerp and opens the way for similar initiatives in Namibia and Angola. Botswana's President Duma Boko emphasized his country's commitment to transparency and responsible mining practices
Growing Laboratory Diamonds
One of the most compelling sessions at Facets 2024 addressed the growing influence of laboratory-grown diamonds and misconceptions about their social and environmental benefits. Panel participants challenged claims that synthetic diamonds are inherently more ethical or sustainable. They emphasized the considerable energy requirements for their production and socioeconomic damage caused by reduced demand for natural diamonds, particularly in African countries dependent on diamond mining for employment and development
Charting a Sustainable Path Forward
Facets 2024 clearly showed that the diamond industry stands at the threshold of significant transformation. Success will depend on individual players' ability to adapt to new conditions and actively participate in rebuilding natural diamonds' image. For wholesale clients, this means the necessity of a strategic approach to purchasing, active participation in marketing initiatives, and readiness for greater supply chain transparency This transformative period brings both challenges and opportunities Those who can quickly adapt to new conditions and actively engage in collective efforts to strengthen the natural diamond sector will have the best prerequisites for success in the coming period
Asthenaturaldiamondindustrymovesinan ever-evolvingenvironment,insightsfromFacets 2024providearoadmapformaintainingits authenticity,relevance,andpositiveimpactonthe world
2024 marks a significant turning point for the luxury sector. After years of exceptional growth during and post-Covid-19 pandemic, the industry faces its first decline since 2008 According to Bain & Company analysis, global personal luxury goods sales decreased by 2% to EUR 363 billion in 2024 This decline stems from several factors, including weakened demand for "accessible luxury," geopolitical uncertainty, and reduced consumer confidence, particularly among aspirational customers.
In previous years, operational profitability in the sector increased from 21% in 2019 to 26% in 2022, enabled by significant price increases of key products. However, this trend shifted in 2024, as elevated prices and economic uncertainty led to sales decline and disruption of the sector's previous growth.
Market Overview and Key Insights
The year's most prominent trend is unprecedented market polarization. While the ultra-wealthy customer segment remains stable and even grows in some categories (particularly in super-luxury automobiles +4% and luxury accommodations +3%), regular customers are significantly reducing their spending. Bain & Company estimates that the market has lost approximately 50 million consumers from this category over the past two years.
Geographic diversification presents a mix of challenges and opportunities. The Chinese market, a long-standing growth driver in the luxury segment, faces significant slowdown with demand declining up to 50% in some categories. This downturn is partially offset by an unexpected boom in Japan, where a weak Yen attracts wealthy Chinese tourists, leading to 12% growth in that market The American market shows remarkable resilience with 2.5% growth in the jewelry segment, while the European market adjusts to sanctions' impact on Russian clientele
The aggressive pricing policy of luxury brands from 2020-2023 is now hitting its limits. Some brands increased prices by up to 66% (Dior), while others like Hermès took a more conservative approach with a 20% increase This significant price escalation is beginning to affect purchasing behavior even among the most loyal customers
The industry's digital transformation continues at an unprecedented pace: 18-21% of transactions now occur online, and 70% of the purchasing process begins with digital research Social media, particularly Instagram and rapidly growing TikTok, are becoming primary channels for luxury goods discovery
GlobalLuxury GoodsMarket
Market Polarization and Digital Evolution
Sustainability and ESG are becoming key success factors 85% of luxury brands now report their emissions, and 60% have established science-based reduction targets. The circular economy and second-hand market are growing in importance, recording 15% year-over-year growth. Brands are investing in supply chain transparency and implementing ESG metrics in executive bonuses.
2024 marked a pivotal year in Arete's development, driven by strategic expansion into new markets and technological advancement Our initiatives focused on streamlining operations for jewelers in a complex and rapidly changing market environment
Growthand InnovationatArete
A Transformative Year of Technological Growth
Launch of Arete.Tools
The launch of Arete.Tools in January 2024 responded to growing demand for reliable gemological equipment, particularly for diamond verification and screening. The platform, now serving clients in more than 16 countries, has helped jewelers gain easier access to specialized equipment - including gemological microscopes, UV lamps, and laboratory-grown diamond screening instruments.
Clients value our deep gemological expertise. We have successfully supplied equipment to major Swiss watch brands, Indian diamond cutting facilities, and European gemological laboratories These customers appreciate our practical approach to selecting the right toolsunlike many other vendors, we use these instruments daily, enabling us to offer informed recommendations.
Leading in Education
Our commitment to industry education remained strong throughout 2024. The advanced workshop conducted by Branko Deljanin in January was fully booked, highlighting the need for professional insight into laboratory-grown diamond identification Ongoing discussions about a second meeting in Prague in the latter half of 2025 underscore our commitment to professional education in this region
International Market Expansion
Arete expanded its international presence by participating in three major trade shows in 2024. These events helped establish new relationships and broaden our knowledge of global market trends. We plan to strengthen our trade show presence in 2025, as we consider it key to further growth
DigitalInnovation:TheNewAreteApp
Perhaps our most ambitious effort was the comprehensive redesign of our B2B portal AreteApp The platform, scheduled for launch in the first quarter of 2025, brings revolutionary features:
The Diamond Marketplace
Offers real-time access to an inventory of over 600,000 diamonds worldwide, reducing the need for multiple quotations
Enhanced B2B Features
Online ordering of certified diamonds will streamline order placement and improve efficiency
The Diamond Studio
An application enabling jewelers to present diamonds under their own brand with fully customizable margins and presentation tools without Arete branding
Mobile Access
Native iOS and Android applications ensure mobile device access for managing all transactions
As we enter 2025, the diamond industry stands on the threshold of another transformation. While sanctions against Russian diamonds have been in effect since March 2022, their enhanced enforcement from March 2025 - applying to diamonds below 1 carat and above 0 50 caratswill further impact supply dynamics. Consumer preferences continue to shift toward online research and purchasing The natural diamond market may experience renewed stability, supported by ongoing strategic controls in rough diamond production
Lab-Grown Diamonds
Laboratory-grown diamonds are likely to maintain their rapid growth trajectory, and markets like the Czech Republic are expected to experience significant retail price corrections Jewelers who balance their offering of natural and laboratorygrown diamonds - while maintaining transparency in sustainability claims - can benefit from this sector's expansion
Positive Trends
Emerging Markets: Growing Indian and other regional markets offer new revenue sources
New Consumer Demographics: Younger buyers emphasize brand authenticity, whether natural or laboratory-grown, provided the narrative is clear and accurate
IndustryCollaboration andEducation
MarketDevelopment andOpportunitiesin 2025
Action Points for Jewelers
Conduct quarterly audits of your digital presence: Strengthen omnichannel marketing, particularly on Instagram, where visual appeal meets educational content
Monitor price positions of laboratory-grown and natural diamonds monthly: Keep pace with rapidly changing price shifts, especially considering sanctions and market corrections
Track marketing ROI: Data-driven approaches justify and optimize marketing budgets in today's inflationary environment
Maintain responsible branding: Overstating laboratory-grown diamonds as entirely sustainable can backfire, so remain honest and emphasize trust
Continuing professional education and collaboration will be crucial in 2025 as market complexity intensifies Retailers who invest in staff training and build strong networks are better prepared for adaptation, whether dealing with sanctions, new technologies, or changing consumer demands.
Conclusion
The industry's transformation in 2024 has laid the groundwork for a potentially dynamic 2025 Businesses that adapt to changes, technologies, and ethical transparency are positioned to capitalize on evolving consumer tastes and global supply changes Both natural and laboratory-grown diamonds possess strong emotional appeal; success depends on effectively communicating their respective values.
At Arete, we remain committed to guiding our partners through these changes Through a combination of innovative technology (Arete Tools, AreteApp), practical gemological expertise, and ongoing educational initiatives, we strive to equip jewelers with resources to overcome challenges and capitalize on emerging opportunities Looking ahead, we focus on transparent solutions, informed strategy, and genuine partnership, enabling us to help clients thrive in an ever-evolving diamond market.
Sources used:
Rapaport- Rapaport News & Market Comments - Martin Rapaport and Joshua Freedman
Tenoris bi -Edahn Golan (proprietary diamond data analytics)
McKinsey & Company -The Diamond Industry Is at an Inflection Point (Article, November 26, 2024) By Nathan Flesher, Sebastian Reiter, and James Whitecross - Link to article
State of the Diamond Market Monthly Report - By Paul Zimnisky, CFA - www paulzimnisky com
Diamond FACTS Report -Natural Diamond Council - https://www naturaldiamonds com/diamond-reports/
The Fancy Color Research Foundation - www.fcresearch.orgFinancial Times:
"Tough luxury market dims Dior's shine", Financial Times, October 18, 2024, Adrienne Klasa, Thomas Hale and Wang Xueqiao
"Golden Goose shows how not to generate a luxury buzz", Financial Times, June 19, 2024
"What to expect in luxury in 2025", Financial Times, Kati Chitrakorn, December 23, 2024
"What luxury is telling us", Financial Times, Rana Foroohar, December 23, 2024
"How luxury priced itself out of the market", Financial Times, October 8, 2024
"Luxury brands bank on their own American dream", Financial Times, November 19, 2024
Hospodářské noviny:
"Český trh s luxusem roste i když svět zažívá ochlazení. Pařížská může pokořit další rekordy",
Hospodářské noviny, Vladan Gallistl, 23 10 2024
IInternal company data
Internal sales, supplier and market analyses were used in this report
