According to a report by Agence France-Presse, De Beers predicts the polished diamond sales to have a 4.5 per cent rise this year. De Beers CEO Philippe Mellier told AFP that the growth is due to India and China improving their markets and the U.S. economy recovering. China, along with Hong Kong and Macau, makes up 13 per cent of the global market, according to AFP.
“The largest global market for diamond jewellery is the United States and everyone knows they are taking off again,” Mellier told AFP. “More and more Chinese are achieving the buying powerto acquire jewellery and diamonds, especially when they get married.”
He also cited India as a growing market for diamonds and the Prime Minister Narendra Modi as a defender of the diamond industry. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
