Difficult Year: Gemfields Revenue Down 32%
March 26, 26
Gemfields reported a 32% drop in FY2025 revenue after a "difficult year," with disruptions to both its emerald and ruby mining operations. The UK-based miner said total annual revenue from continuing operations was down from $199.4 million... Read More...
Swarovski's Pop Luxury Plan Pays Off Again
March 26, 26Swarovski delivered 6% year‑on‑year organic growth in 2025 as its turnaround and repositioning plan continued to pay dividends. The family‑controlled Austrian company reported EUR1.97 billion ($2.26 billion) in revenue for the year, generated across... Read More...
"Dirty Cash" Rolex Dealer Jailed for Drugs Operation
March 25, 26A drug dealer who ran a Rolex watch business as a front for his criminal activities has been jailed for 15 years by a court in the UK. Bertie Payne, aged 30, led a group of seven men who supplied and distributed 24kg of cocaine, 10kg of ketamine... Read More...
Alrosa says Diamond Prices are Increasing
March 25, 26Alrosa says prices for its higher-value diamonds are rising, as supply shortages begin to reverse a long-term decline in both rough and polished goods. Russia's state-controlled miner says prices for investment grade goods (2cts to 10cts) increased by... Read More...
US Surge Bumps Swiss Watch Exports
March 24, 26Swiss watch exports showed signs of recovery in February, increasing by 9.2% year‑on‑year after a 3.6% drop in January. Total sales reached CHF 2.2 bn (USD 2.77 bn), up from CHF 1.9 bn (USD 2.41 bn) the previous month, according to the Federation... Read More...
Memo by John Jeffay
March 26Signet and De Beers, titans of the diamond world, both revealed plans in recent days to consolidate their operations. It's survival of the fittest. The phrase dates back to Charles Darwin and his evolutionary theory, although it was actually coined by another ... Read More...