Author: Abidemi Fadekemi

Private equity funds managed by Blackstone have acquired the International Gemological Institute (IGI) from Shanghai Yuyuan Tourist Mart (Group) Co., Ltd, a subsidiary of Fosun, and Roland Lorie of the founding family. Sources indicate that the sale price approximately $530 million, although this is yet to be confirmed. IGI’s Impact on the Jewellery Industry IGI, founded in 1975 in Antwerp, holds the title of the world’s first gemological laboratory to hold ISO accreditation in both natural and lab-grown diamonds. With a global presence of 29 laboratories and 18 schools of gemology across 10 countries, it has emerged as a leader in…

In response to Russia’s ongoing conflict with Ukraine, Prime Minister Rishi Sunak has declared a ban on the import of Russian diamonds into the UK. This move was announced at the recent G7 summit in Hiroshima, Japan, with the Prime Minister stating that he wants to ensure “Russia pays a price” for its actions in Ukraine. Russia is the world’s largest diamond producer, with an output of 35,958kct for 2022, albeit an 8.08% decline from 2021. Russia’s diamond industry was worth approximately $4bn (£3.2bn) in exports in 2021. The Size of The Impact in the UK Russia is not directly…

What if every diamond, gemstone, or piece of gold you wore could tell a story? A story of fairness, sustainability, and respect for our planet. That’s the beauty of ethical jewellery. As we become more conscious about our choices and their impact on the world, ethical jewellery represents a shift towards sustainable practices within the jewellery industry. In this guide, we’ll explore what ethical jewellery is and why it’s more important now than ever before. We’ll take you on a journey from the mines to the market, highlighting the process behind creating such pieces. You’ll learn about the positive impact…

London jeweller Queensmith has made an undisclosed acquisition of the web domain of Vashi.com, following Vashi’s recent liquidation. In addition to obtaining the domain, Queensmith has also employed a number of former Vashi staff members who were left redundant in the aftermath of the company’s collapse. Vashi.com’s Domain Purchased by London Jeweller Queensmith Vashi, previously known for its focus on bespoke jewellery and engagement rings, experienced a setback despite its impressive sales of £100 million in 2021 and a valuation of £250 million just a few months earlier. The company failed to secure further investment from backers, leading to its…

Luxury watch and jewellery retailer, Goldsmiths, is gearing up for a significant expansion at Liverpool ONE. Part of the Watches of Switzerland Group, the brand is planning to double the size of its current store and introduce its new ‘Goldsmiths Luxury’ concept. Goldsmiths Luxury The Goldsmiths Luxury concept is the brand’s latest initiative to enhance the customer experience – the remodeled store will include a hospitality bar and lounge area, providing a relaxing environment for shoppers. The inclusion of VIP consultation rooms and trusted service and repair specialists aims to further underscore Goldsmiths’ commitment to customer service. With an eye-catching…

The coronation of King Charles was a splendid event filled with heritage jewellery choices by the royal family. Although there weren’t any tiaras worn, apparently due to the King’s wish for a pared back ceremony, there was still plenty of sparkle on display. Queen Camilla Queen Camilla, wore the iconic Coronation Necklace, featuring 25 graduated brilliant diamonds and the remarkable 22.48-carat Lahore Diamond, originally created for Queen Victoria in 1858, by the British Crown Jeweller Garrard. This is also the same necklace that Queen Elizabeth II, wore for her coronation in 1953. Kate Middleton Princess Kate, paying homage to her…

Watches of Switzerland, one of the UK’s leading luxury watch retailers, has announced a change in its financial leadership. Current CFO Bill Floydd is set to step down from his role on 12 May 2023, by mutual agreement with the group. The transition will mark the return of former CFO Anders Romberg to the position, adding another chapter to his already extensive history with the company. The Experienced Successor Romberg previously held the CFO title at Watches of Switzerland from 2014 to 2021. His deep knowledge of the group, combined with his proven track record of financial leadership, make him…

While yellow gold is now firmly back in fashion, white gold continues to be a popular choice for all types of jewellery. White gold is a compound of gold and at least one white metal, usually nickel, manganese, or palladium, plus a protective covering of rhodium. While the make-up of white gold may be slightly different to yellow gold, the way its purity is measured is the same – through karats, with ’24 karat gold’ being 100% pure. Pure gold is too soft to use in jewellery that will be worn every day, which is why it is mixed with…

Importing jewellery into the UK involves more than just looking at the topline price. Here’s what to think about when deciding whether it’s right for you.