Diamond Jewelry Business

Diamond Jewelry Business

The diamond jewelry business has strengthened overall throughout the past two years. Over the past few months business have been comparable to that of a pendulum. With hot and cold moments. According to David Nazer, managing director of Haywards, a designer, and manufacturer specializing in custom-made diamond engagement rings as well as wedding rings for the expatriate market explains, "in the middle of 2013, everyone was saying that the market slow, but now we are starting to see movement stones." Nazer goes on to explain that business was good over the Christmas season. Also, that the Chinese New Year as well as with Easter holiday sales. Haywards uses memo goods from diamond vendors when showing diamond goods to his customers. Only six months ago he was told he could hold on to consignment goods for as long as he likes. However, in today's market, many vendors request that their clients return their diamonds within two weeks or less. He maintains, "there is a faster turnover of stock, in particular for rounds rather than fancy. There also has been a sudden surge in demand for 1 carat G-VS2 round stones. They are turning over so fast that they are hard to get a hold of and manufacturers are playing catch-up to meet demand."

China and the Diamond Jewelry Business

Thanks to China's new middle class the diamond jewelry business has strengthened considerably in this new market. Traditionally in China, the most popular diamonds have been higher clarity, colorless smaller diamonds. However, this emerging market is demanding a more diverse product with respect to diamonds. Nazer of Haywards explains that Chinese consumers are accepting that a diamond does not need to be high clarity in order to be considered good quality, "the demand is down trending toward eye clean." With regards to engagement ge style diamond engagement rings influenced by Georgian turn-of-the-century styles. This style of engagement ring requires smaller diamonds surrounding larger diamonds. Also popular are vintage With regards to engagement rings, Nazer explains that there has been an increase in requests for vintage style diamond engagement rings like the Georgian turn-of-the-century styles. This style of engagement ring requires smaller diamonds surrounding larger diamonds. Also popular are vintage a low style with fine micropavé and filigree settings. Nazer has also reported an increase in requests for yellow and rose gold rings, which now make up 10-15% of his business this last fiscal year.

Chai Tai Fook and the Diamond Jewelry Business

The diamond jewelry business has strengthened in China. Thanks in part to one significant contributing factor, the world's largest jewelry company, Chow Tai Fook Jewelry. However, while there are reports of increased trade and sale in the diamond jewelry business, Chow Tai Fook Jewelry has had declines in same-store sales growth in both Hong Kong and Macau respectively for the fourth quarter that ended March 31, 2014. One Chow Tai Fook staff member says the decline was in part, "due to the weaker customer traffic during the period." Sales at both the Hong Kong and Macau locations reported a 9 percent decline from the previous year. The group's sales rose 22 percent in the fourth quarter, slowing from a 26 percent increase. There is strong retail jewelry and diamond sales have from their mainland China headquarters. http://www.diamonds.net/News/Articles.aspx