The situation in the diamond markets is serious. The real diamond market is shrinking.
This webinar, presented by Martin Rapaport will analyze the future for real diamonds. What should a jeweler, dealer, manufacturer and miner do to prosper in the years ahead? What long term impact will synthetics have on real diamonds?
We expect De Beers revenue to fall by $1.9 Billion (-29%) from the peak of $6.6 Billion in 2022 to $4.7 Billion in 2024. Prices since March 2022 have been in steady decline with one caraters falling by an average of 35% (range -26% to -47%). It is likely the downward trend will continue.
The decline in real diamond revenue will be industry wide and significantly impact the generic non-branded B2B diamond markets. It is primarily the result of competition from synthetic diamonds. The move by consumers to synthetics will be consistent and long term, not like economic conditions which come and go. Furthermore, synthetic diamond prices are crashing to the point where their sales revenue even at higher margins will be insufficient for traditional jewelers.
The implementation of sanctions is also highly problematic with continuous U.S. importation of Russian source diamonds. The refusal of OFAC to clarify sanction regulations related to Alrosa rough diamonds that are cut outside of Russia creates unacceptable risk for the US diamond market. The US diamond trade does not know what diamonds they can legally buy.
Don't miss this opportunity to prepare yourself strategically for the great challenges and opportunities that lay ahead. Registration is required to attend the webinar. Register here.
Martin Rapaport Chairman
RAPAPORT
Rapaport USA Inc., 133 East Warm Springs, Las Vegas, Nevada 89119, USA, 702-893-9400
We offer a wide range of diamond and gemstone related products. We have a wide range of jewelry information from vendors and manufacturers. present to buyers
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