Pandora’s second quarter revenue rose 4% to DKK 7.1 billion ($1.11 billion), led by 8% growth in the US. Net profit inched up 0.5% to DKK 803 million ($126 million). Sales of lab-grown diamonds jumped 39% to DKK 85 million ($13.3 million), though at a lower margin, while tariffs weighed on profitability, the Danish jeweler said.
India’s polished-diamond exports rose 18% year on year to $1.07 billion in July, the GJEPC reported. Shipment volumes grew 9% and the average price advanced 8%. Rough imports climbed 26% to $1.15 billion, supported by a 28% increase in volume.
Dubai-based Gaston International DMCC, part of Dubai’s Jemora Group, agreed to acquire Lucapa Diamond Company, including the Lulo mine in Angola, Mothae in Lesotho, and Australia’s Merlin project. Merlin, held via subsidiary Brooking Diamonds, is also being transferred under a separate creditor-approved rescue deal. Both transactions await court and regulatory clearance.
Mumbai-based diamond and jewelry manufacturer Asian Star saw first-quarter revenue drop 5% to INR 7.28 billion ($87.7 million) for the period ending June 30. Jewelry sales rose 19% to INR 20.13 billion ($24.3 million), partly offsetting a 13% decline in loose diamond sales to INR 54.7 billion ($65.9 million). Net profit increased 11% to INR 183.4 million ($2.2 million).
De Beers and Angola’s state miner Endiama have found a new kimberlite field — the company’s first in over 30 years — from initial drilling at a high-priority site. Further tests will gauge its diamond potential, building on recent agreements to expand responsible exploration in Angola.
Mountain Province Diamonds’ second-quarter sales fell 51% to CAD 36.8 million ($26.9 million), with its net loss widening to $37.7 million ($27.5 million) as higher costs deepened the impact of weaker revenue. The company owns 49% of Canada’s Gahcho Kué mine, operated by majority shareholder De Beers.
Berkshire Hathaway is merging Ben Bridge Jeweler with Helzberg Diamonds into a new BH Jewelry Group, led by Helzberg CEO Brad Hampton, JCK Online reported. Both brands will operate under their existing names, while the move aims to streamline operations and strengthen Berkshire’s position in the US jewelry market. Ben Bridge CEO Lisa Bridge announced she is stepping down from her role she’s held since 2019.
Berkshire Hathaway’s “other retailing businesses” — which include jewelers Borsheims, Helzberg, and Ben Bridge — saw revenue grow 2.9% in the second quarter but fall 1.1% in the first half of 2025 amid softer demand, the company reported.
Gemfields will sell its luxury brand Fabergé to investment firm SMG Capital for $50 million, comprising $45 million on completion, expected August 28, and $5 million in royalties equal to 8% of Fabergé’s revenue. The move is part of Gemfields’ strategy to focus on its core ruby and emerald mining operations in Mozambique and Zambia.
Titan Company’s first-quarter revenue rose 21% to INR 146.71 billion ($1.69 billion), driven by a 21% increase in jewelry sales to INR 130 billion ($1.48 billion) with a 16% jump in average ticket size in India. Net profit climbed 34% to INR 1.03 billion ($124.1 million).
Lucara Diamond Corp. reported second-quarter revenue rose 6% to $43.7 million, boosted by a $12 million partial sale of the 1,094-carat Seriti diamond to HB Antwerp. Net income climbed 10% to $12.5 million. In July, the company recovered a 2,036-carat near-gem from its Karowe mine, claiming it is the third-largest rough diamond ever found.
Sarine Technologies’ revenue fell 30% year on year to $15.3 million in the first half of 2025, as diamond manufacturers deferred equipment purchases amid weaker global consumer demand for diamonds. The company posted a net loss of $150 million, compared with a $994 million profit a year earlier.
Petra Diamonds reported rough sales dropped 33% to $206 million in the fiscal year ended June 30, with fourth-quarter sales down 49%. Prices at its June tender rose 3% from the prior quarter, hinting at a mild recovery in coarse goods, though like-for-like prices fell 17% for the year. Group production edged up 1% to 2.43 million carats, with fiscal 2026 output guided at 2.4–2.8 million carats.
Alrosa will begin testing a new universal high-performance diamond separator in September. The equipment aims to boost kimberlite ore processing capacity to 300 tons per hour — four times that of current X-ray fluorescence models, the Russian mining company said. Developed in-house, the prototype has passed pilot tests and is now in commissioning, with serial production planned if trials succeed.
Brilliant Earth’s second quarter sales rose 3.3% year on year to $108.9 million, as a strong bridal segment drove an 18.3% increase in total orders. This offset a 13% drop in average order value to $2,074. The company posted a net loss of $1.1 million, compared to a $1.3 million profit last year, mainly due to higher costs and operating expenses.
The US will impose an additional 25% tariff on Indian imports starting August 27, under a new executive order by President Trump. The move, linked to India’s continued oil imports from Russia, comes on top of the 25% duty already in effect since August 7 as part of a broader round of reciprocal tariffs.
The new 50% US tariff on Indian imports threatens thousands of jobs and billions in gems and jewelry trade, according to GJEPC Chairman Kirit Bhansali. The U.S. is India’s largest market, making up nearly 30% of exports, with SEEPZ SEZ and diamond shipments especially exposed. The GJEPC is calling for government relief through tariff reimbursements, market diversification, and liquidity support.
New US reciprocal tariffs took effect on August 7, impacting key diamond and jewelry centers. Producing countries like Angola, Botswana, Namibia, Lesotho, and Zimbabwe, along with trading hubs like Belgium and Israel, now face a 15% rate. The UAE and UK received the base rate of 10%, while higher tariffs apply to South Africa (30%), Switzerland (39%), and India (25%).
Belgium’s rough diamond imports jumped 60% year on year to $414.2 million in July, according to AWDC data. Rough exports dipped 2%, while polished exports and imports fell 21% and 28% respectively. Polished exports to the US, Belgium’s largest market, dropped 48% in value and 44% in volume in the first seven months of 2025.
Australia-based jeweler Michael Hill reported a 1% rise in group sales to AUD 278.6 million ($181.8M) for the fiscal year ending June 29. Same-store sales rose 2.4%, with gains in Australia (+2%) and Canada (+6.5%) offsetting a 2.4% decline in New Zealand. The group expects EBIT of AUD 14 million to 16 million ($9.1M to $10.4), compared to AUD 15.9 million ($10.3M) a year earlier, when it reports on August 25.
William Clark has joined Harry Winston as director of manufacturing, he announced on LinkedIn. He previously served as VP, global head of design development for jewelry at Swarovski and has held roles at HRA Group, Signet Jewelers, Frederick Goldman, and David Yurman.
Lucapa Diamond Company reported second quarter rough sales from its Lulo project in Angola fell 7% to $16.5 million, as the average price dropped 35% to $2,323 per carat. Sales volume rose 42% to 7,124 carats, while production more than doubled to 9,325 carats. The number of special stones over 10.8 carats jumped 65% to 76.
Indian jeweler Tanishq has launched its Diamonds Expertise Centre in partnership with De Beers, offering in-store evaluation to verify diamond quality and origin in real time. The initiative aims to boost transparency and consumer trust in the buying experience, parent company Titan Company said.
Alrosa reported a 24% year-on-year drop in first-half sales to RUB 116.04 billion ($1.45 billion), citing ongoing sanctions as a continued drag on performance. Net profit rose 12% to RUB 39.03 billion ($488 million), driven by improved margins, an 82% cut in selling expenses, and gains from asset sales, mainly stakes in subsidiaries. (Brief based on Alrosa RAS interim report translated via ChatGPT)
Burgundy Diamond Mines reported a 51% year-on-year drop in second-quarter sales to $52 million. The average price fell 44% to $58 per carat, with volume down 13% to 900,000 carats. Production at its Ekati mine in Canada declined 34% to 810,000 carats.
Signet Jewelers has named Julie Yoakum, former president and chief brand merchant at Helzberg Jewelers, as president of Kay Jewelers and Peoples Jewellers. She succeeds Stacee Johnson Williams, who held the role on an interim basis and has been appointed Signet’s chief merchandise operations and sourcing officer. Lisa Loch, formerly with Crocs and Heydude, joins as chief marketing officer.