30-12-2019
The Antwerp World Diamond Centre (AWDC) and Bain & Company have released their ninth annual global diamond study. The report pointed out the industry as a whole would still in a recession since the downward trend started in 2015.
According to lead author of the report Olya Linde, the industry has to weather some uncertainty in 2019 and 2020, due to continued geopolitical instability, strong signs of an impending recession and limited marketing support, especially for nonbranded and lower-end jewellery. On the other hand, the branded luxury diamond jewellery segment, which accounts for about 15 percent of the total diamond jewellery market, is expected to perform well, growing at high single digits – in line with the growth of personal luxury goods.
It is expected that diamond jewellery retail sales in the United States will fall two percent, in contrast to three percent growth in 2018. In last year, China (including Hong Kong) climbed four percent but dropped five percent in 2019. The Chinese market is expected to decrease by 5 percent in US dollars. India’s diamond jewellery retail sales are expected to rise three percent.
Click here to read the report.
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