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DIAMONDS
Gen Z and
millenials now
account for two-
thirds of global
diamond demand,
says De Beers
The millennial and Gen Z generations
combined accounted for two-thirds of
global diamond jewellery sales totalling
$82 £(£62.8bn) in 2017, according to
data published by De Beers Group.
De Beers’ latest Diamond Insight
Report found that millennials, those
currently aged 21 to 39, represent
29% of the world’s population and are
the current largest group of diamond
consumers. They accounted for almost
60% of diamond jewellery demand in
the US in 2017 and nearly 80% in China.
Gen Z, those currently aged up
to 20, is an even larger consumer
generation - representing 35% of the
world’s population and will come of age
as diamond consumers over the next
decades. Despite the generation being
a long way from financial maturity, Gen
Z is already found to be making its
presence felt in the diamond market,
with the oldest Gen Z consumers
(those currently aged 18 to 20)
acquiring 5% of all diamond jewellery
pieces in the US last year.
The report highlighted key similarities
and differences between millennials
and Gen Z including life experiences
which may have particular implications
for diamond brands and retailers. For
example, millennials are in general
more mistrusting, requiring brands to
earn their trust before they can pursue
growth, while Gen Z tend to be more
individualistic and optimistic, desiring
products that help build their own
personal brands.
It also found there are a number
of important similarities between the
generations, especially with regards
to valuing love, being digital natives,
being engaged with social issues
and desiring authenticity and self-
expression.
October 2018 | jewelleryfocus.co.uk
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ACQUISITION
De Beers Group
completes
acquisition
of Peregrine
Diamonds
De Beers Group has completed the
acquisition of Peregrine Diamonds for
a total cash consideration of C$107m
(£62.6m).
The transaction, which was
originally announced on 19 July
2018, was approved by Peregrine’s
securityholders on 31 August 2018
and by the Supreme Court of British
Columbia in its final order dated 10
September 2018.
The common shares of Peregrine
have been approved for delisting from
the Toronto Stock Exchange and will
be delisted at the end of trading on 14
September 2018.
Bruce Cleaver, CEO of the De
Beers Group, said: “We are very
pleased to complete the addition of
the Chidliak resource to De Beers
Group’s world-leading diamond
resource portfolio, and to extend our
presence in Canada. We look forward
to developing the resource further
and are excited about its potential for
contributing to our future diamond
production.”
Kim Truter, CEO, De Beers Canada,
said: “We are very excited about
the Chidliak cluster, an asset with
very strong development potential.
Having built and operated three
diamond mines in Arctic-like
conditions in the past 15 years, our
expertise in bringing projects of this
nature to fruition is unparalleled.
We look forward to accelerating our
understanding of this property and
how we can move it forward.”
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I think The Mayiet
Collective is a stunning
concept and I was
thrilled and honoured
to be invited to take part
in it
Helena Fine, Olivia Grace London’s
founder and designer
JEWELLERY BRANDS
Olivia Grace
London joins The
Maiyet Collective
pop-up
Fine jewellery brand Olivia Grace
London is to launch a new bracelet
called ‘Sunflower’ to mark being
chosen as one of the participating
brands in the new retail concept The
Maiyet Collective.
The Maiyet Collective concept
store, based at new private Members
Club The Conduit, Mayfair, will look
to bring together a collection of
the most exciting sustainable and
positive impact brands in the world
right now – all sharing a vision of
sustainable luxury. The fine jewellery
presented at The Conduit has been
curated for The Maiyet Collective by
La Maison Couture.
Olivia Grace London’s founder and
designer Helena Fine’s new range is
the latest edition of her ‘Flexi-bracelet’.
The bracelets feature a spring fitted
inside so the bracelet will fit any wrist
or arm and include 18ct recycled gold
and ethical diamonds.
There are three bracelets in the new
Sunflower collection. The white gold
has 0.40ct black diamond in the centre
with a halo of small white diamonds.
It contains over 9 grams of 18ct solid
gold. The 18ct yellow bangle has a
0.40ct white diamond with small white
diamonds surrounding it and contains
over 9 grams of 18ct solid gold. the 18ct
rose gold bangle has a 0.40ct white
diamond also featuring small white
diamonds and contains 10 grams of
18ct solid gold.
JEWELLERY FOCUS
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