Idex Magazine May 2011 issue

8/6/2019 Idex Magazine May 2011 issue

1/60

May 11

INDIA RETAIL

EVENTS

Indian Diamond Demand

Grew Faster Than ChinaIn 2010: Varda Shine

SPOTLIGHT

Gemfields BoostsEmeralds From MineTo Market

DRB LAUNCH

IDEX & GJF LaunchConsumer-AssuringRupee DRB In India

DIAMOND RETA

BENCHMARKA price list to assure

your customers

An Extra Promise

In A World Short

Of Diamonds

Adding ethics and

the environment tothe value proposition


2/60


4/604 IDEX MAGAZINE INDIA RETAIL | NO

Contentsmagazine india retailMAY

05 FROM THE EDITORS DESKA Diamond Is Only As Good As Its Promise

06MUMBAI DIAMOND MARKET REPORTMarket In Search Of Price Stability

10 SPOTLIGHTGemfields Boosts Emeralds From Mine To Market

16 EVENTSIndian Diamond Demand Grew Faster Than China In

2010: Varda Shine

Indian Gem & Jewellery Exports Hit $43.14 Billion

21 RETAIL ET CETERA

24 INDIA DRB LAUNCHIDEX & GJF Launch Consumer-Assuring Rupee DRB In India

27DIAMOND RETAIL BENCHMARKA diamond price list to assure your customers

34COVER STORYAn Extra Promise In A World Short Of Diamonds

Adding ethics & the environment to the value proposition

54POLISHED DIAMOND PRICES

56U.S. MARKET WINDOW

08_w~B hram ~mOma H$s [anmoQ>_y` Wm{`d H$s Vbme _| ~mOma

13

IXmZ go ~mOma VH$ no H$mo {_bm Oo_{\$Sg H$m g_WZ_ {hb m {d {e >Vm na H |${V {d k mnZ A { `mZ

44AmdaU H$WmX{Z`m ^a _| hram| H$s H$_r Ho$ ~mdOyX EH$ A{V[a$ Amem

www . i d e x o n l i n e . c o m

MAY 20 11VOL. 1 No. 06

EDITORIAL DEPARTMENT

EDITOR-IN-CHIEFVinod Kuriyan

EDITORS Edahn Golan, Danielle Max

IDEX ONLINE RESEARCH Ken Gassman

INTERNATIONAL CORRESPONDENT

Tamar Katzav

ADMINISTRATION & MARKETING

MANAGING DIRECTOR Yaron Barzilay

MARKETING MANAGER Kuldip Bedi

SALES MANAGERSAnish Kuriakose, Osnat Davidov, Tali Kozik, Yaron Barzilay

PRODUCTION & CIRCULATION Helena Dorsht, Vera PodolnyACCOUNT MANAGER Shuly Dori

ART DEPARTMENT

GRAPHIC DESIGNERS

Boris Mandelis(Red Designer Studio)

Ilana Akselrod (Red Designer Studio)

Liran Brener (Red Designer Studio)

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ISSN 0334-68382003 IDEX ONLINE S.A.


5/60IDEX MagazInE InDIa REtaIl | nO 06: EDItOR

From the

Editors Desk

After all is said and done about cut, clarity, colour

and carat weight, the value of a diamond in

the end comes down to the promise it makes

to the recipient. To date, the diamond has done well

by promising buyers and intended recipients that it is

the ultimate symbol of love. That it somehow defines

the relationship between men and women. That it is

imbued with a timelessness much in the way emotions

like love are timeless. That it is something greater than

all other manufactured human symbols because it will

stride from one generation to the next.

All these promises are a result of a carefully crafted

promotional strategy developed by mining major De

Beers, which reali sed that unless it added value to the

finished product, the rough d iamonds it sold wouldnt

be worth all that much. The promise of the diamond

wasnt always what it is today.

It may come as a surprise to many that diamond

engagement rings came into fashion only around

the 1930s. Before that, towards the end of the 19th

century, a woman was more likely to receive a sewing

thimble as a symbol of her engagement! Diamonds

were only for the very rich. The first well-documented

use of a diamond ring to signify engagement wasby the Archduke Maximilian of Austria in imperial

court of Vienna in 1477, upon his betrothal to Mary

of Burgundy.

Before that, diamonds were about power and most of

the wearers were men. Even Indias famous Kohinoor

was strictly the preserve of the male power elite,

starting with Babur, until it finally found its way into

the possession of a woman, Queen Victoria, through

a web of political intrigue.

Today, when it controls just 38 percent of the worlds

diamonds, De Beers has withdrawn from actively

promoting the promise of the diamond in general. And

the world today has seen doubts cast on the promise

of the diamond with horrific stories of how civilians

including women and children have been brutalised in

order to obtain them so that they could then go on to

fund equally horrific conflicts. Of how they have been

used to launder money for terror groups and how their

mining might be affecting the environment.

De Beers has, therefore, wisely realised that though

demand now has begun to outstrip the supply of

diamonds a new mine hasnt been found in 15 years

without a promise of something extra, the value of the

diamonds that it does control could easily be eroded .

Thus the Forevermark brand imbuing much of the

older promise of timelessness and of symbolising

relationships is a step in the right dire]ction.

If the brand captures the imaginations of consumers,

it could also act as an impeller for generic diamonds,

which could bask in the afterglow of the new promise.This might be just what is needed in a consumer that

is devoid of an active promotion of the the diamond

promise and ringing with the aggressive noises of

a dozen other luxury products clamouring for the

consumers attention.

A Diamond Is Only As Good

As Its Promise

Vinod KuriyanEditor


6/60

By Vinay Parekh

6 ideX Magazine india Retail | nO 06: MUMBai diaMOnd MaRKet ReP

MumbaidiaMOnd MaRKet RePORt

Polished diamond prices in the Mumbai market

have such huge variations in small goods,

the differences in asking prices are as much as

between 15- and 20 percent that even veteran dealers

are no longer sure about how much they should pay for

something they want. Dealers have now turned cautious,

preferring to hold on a bit rather than venturing to acquire

inventory at the high prices now ruling the market.

The extremely high prices of VS+ goods have resulted

in a slowing down of their otherwise very brisk

movement.

Still, asking prices remain high as do the chronic

shortages of goods. Prices had begun showing signs

of softening at the beginning of April , but after the

DTC sight, at which prices in some Indian goods

went up by as much as 30 percent, people have been

holding firm on prices. The market is waiting to see

what will happen at the next sight which is only

now in June.

Overall, the fir st half of April saw brisk activity in the

Mumbai market, while the second half witnessed a

marked slowdown.

Market In Search Of Price Stability


7/60Magazine india Retail | nO 05: MUMBai diaMOnd MaRKet RePORt

Size in Ct. (Sieve) Comments Forward Call

-0.01 (-2 ) Very oo emn for VS-Si/J+ oos.

goo emn for pqu oos. Overll very oo

emn cross he bor. Very ho ceory.

Shores wll no ese. acves n VS+ clry

s lkely o reuce s skn prce oes no mch

wh offer prce. Some sofness n emn for

VVS oos wll be seen.

-0.02 (+2-6.5) Very oo emn for VS-Si/J+ oos.

goo emn for pqu oos. Hoes ceory.

Prces for VS+ oos re pek level.

Severe shores wll connue. trnscons

will be difcult to make as gap between asking

prce & offer prce ncreses. Some sofness n

emn for VVS oos wll be seen.

0.03-0.07

(+6.5-11)

Very oo emn for VS-Si/J+ oos.

goo emn for pqu & lower pqu oos.

Mos requre seve s -8.

Sey cvy s expece. Melees no s ho s

srs. demn for pqu oos wll mprove.

0.08-0.14 (+11-14) Very oo emn for Si+ oos.

goo emn for pqu oos.

acvy wll mprove s hs sze s comprvely

cheper hn srs & melees.

0.15-0.17

(+14-15.5)

Very oo emn for Si+ oos.

goo emn for pqu oos.

acvy wll remn sble wh shores of

oos.

0.18-0.22 (1/5) goo emn for Si1+ oos. Overll low cvy excep VS+ oos wll be

seen n hs ceory. demn for pqu oos

wll mprove.

0.23-0.29 (1/4) goo emn for VS+ & pqu oos. demn & prces for pqu oos wll o up.

0.30 (1/3) goo emn for VS+ & pqu oos.

g-J col. s n more emn.

demn & prces for pqu oos wll o up.

0.40 (3/8) goo emn for VS+/g-J col. demn & prces for pqu oos wll o up.

0.50 (1/2) Very oo emn for Si+/J+ col.

goo emn for i1/i2.

demn & cvy wll be hher. Beer emn

cn be seen for d-F col.

0.75 (3/4) Very oo emn for +0.90 cr VS+/J+.

goo emn for i1/i2 & VS+/g-J col.+0.90 cr wll become ho ceory.

demn for d-F col. wll mprove.

1.00 (4/4) Overll very oo emn cross he bor.

Sron emn for VS & Si oos. improve

emn for d-F colors.

Shortages will be seen for certied SI Clarity. It

will be Difcult to nd premium sizes.

+3.00 Very oo emn for Si1+/H-K colors.

demn ncreses for VS/i-K colors n +5 cr

szes.

Shores wll be seen n +5cr szes.

Shores my rve prces upwr.

M U M B a i d i a M O n d t R a d i n g i n a P R i l


8/608 MAGAZINE INDIA RETAIL | NO 06: MUMBAI DIAMOND MARKET REP

_w~B hram~mOma H$s [anmoQ>

_w~B_mH}$Q> _| V`ma hram| H$s H$s_V _| ~S>m AVa h- `m{Z N>moQ>o _mb

Ho$ _mJ _y` _| 15 go 20% H$m AVa h, gmW hr AZw dr S>rbam| H$mo

A~ BgH$m amogm Zht ahm {H$ Ch| AnZr IarX Ho$ {bE {H$VZm wJVmZ

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H$s_Vm| _| Bd|Q>ar m H$aZo H$s ~OmE hmoS> H$aZm `mXm ngX H$a aho h&

VS+ _mb H$s H$m\$s D$Mr H$s_V go CZH$s Xgar VoO J{V{d{Y`m|_| H$_r AmBh&

Hw$b {_bmH$a Ab Ho$ W_mY _| _w~B ~mOma Zo VoO J{V{d{Y{XImB, Ohm Bgr _mh Ho$ Xgao {hgo _| _Xr N>mBahr& BgHo$ ~mX^r _mJ _y` D$Mr ahr Ogm {H$ _mb H$s XrKH$m{bH$ H$_r ahr&Ab H$s ewAmV _| H$s_Vm| _| Z_u {XIZr ew hB na S>rQ>rgrgmBQ> Ho$ ~mX, {Ogna {H$ Hw$N> ^maVr` _mb H$s H$s_V 30% VH$D$na JB, bmoJ H$s_Vm| na `mXm {Q>Ho$ aho& A~ ~mOma Bg BVOma_| h {H$ AmZo dmbo d$ _| `m hmoJm, Omo {H$ OyZ Ho$ _hrZo _| hrn> hmo gHo$Jm&

_y` Wm{`d H$s Vbme _| ~mOma{dZ` nmaoI mam


9/60MAGAZINE INDIA RETAIL | NO 06: MUMBAI DIAMOND MARKET REPORT

H$aoQ> gmBO

(grd)

{Q>n{U`m ^mdr X`

-0.01

(-2)

VS-SI/J+ _mb Ho$ {bE H$m\$s AN>r _mJ&nrHo$ _mb H$s AN>r _mJ ~moS> ^a _| Hw$b {_bmH$aAN>r _mJ& H$m\$s hmQ> H$Q>Jar&

H$_r _| BOm\$m Zht hmoJm& VS+ b[aQ>r _| J{V{d{Y`mH$_ hmoZo H$s g mdZm hmoJr `m|{H$ _mJ _y` Vm{dV_y` go _ob Zht ImVm h VVS _mb H$s _mJ _| WmoS>r

Z_u {XImBnS>oJr&

-0.02

(+2-6.5)

VS-SI/J+ _mb Ho$ {bE H$m\$s AN>r _mJ&nrHo$ _mb H$s AN>r _mJ& gdm{YH$ hmQ> H$Q>JarVS+ _mb H$s H$s_V Ma_ Va na&

^mar H$_r Omar ahoJr& Q>mOeZ H$aZm _wpH$b hmoJm,`m|{H$ _mJ _y` Ama Vm{dV _y` Ho$ ~rM H$m AVa~T>oJm& VVS _mb H$s _mJ _| WmoS>r Z_u {XIoJr&

0.03-0.07

(+6.5-11)

nrHo$ _mb H$s AN>r _mJ& nrHo$ _mb/bmoAa nrHo$ _mb

H$s AN>r _mJ& gdm{YH$ _mJ dmbr 8 h&

EH$ g_mZ J{V{d{Y ahZo H$s Anojm h&

_obrO Q>mg{OVZr hmQ> Zht ahoJr& {nH$ _mb H$s _mJ_| gwYma hmoJm&

0.08-0.14

(+11-14)

SI+ _mb Ho$ {bE A`V AN>r _mJ&

nrHo$ _mb H$s AN>r _mJ&

My{H$ `h gmBO VwbZm_H$ $n go Q>mg VWm _obrO go

gVr h, J{V{d{Y _| gwYma hmoJm&

0.15-0.17

(+14-15.5)

SI+ _mb H$s AN>r _mJ&nrHo$ _mb H$s AN>r _mJ&

_mb H$s H$_r Ho$ gmW hr J{V{d{Y Wm`r ahoJr&

0.18-0.22

(1/5)

SI1+ _mb Ho$ {bE AN>r _mJ& Bg H$Q>Jar _| VS+ _mb Ho$ Abmdm Hw$b (1/5)J{V{d{e _| H$_r ahoJr& nrHo$ _mb H$s _mJ _| gwYma hmoJm&

0.23-0.29

(1/4)

VS+ VWm nrHo$ _mb H$s AN>r _mJ nrHo$ _mb H$s _mJ VWm H$s_V D$Mr hmoJr&

0.30

(1/3)

VS+ VWm nrHo$ _mb H$s AN>r _mJ G-J aJm| H$sAm^m H$s A{YH$ _mJ h&

nrHo$ _mb H$s _mJ VWm H$s_V D$Mr OmEJr&

0.40 (3/8) VS+G-J aJm| H$s Am^m H$s AN>r _mJ h& nrHo$ _mb Ho$ {bE _mJ VWm H$s_V D$na OmEJr&

0.50

(1/2)

Sl+/J+ aJm| H$s Am^m H$s H$m\$s AN>r _mJ h&

l1/12. H$s AN>r _mJ&

_mJ Ama J{V{d{Y D$Mr ahoJr D-F aJm| H$s Am^m Ho$

{bE (1/2) ~ohVa _mJ XoIr Om gH$Vr h&

0.75

(3/4)

+0.90 H$aQ> VS+/J+ H$s AN>r _mJ&l1/12 VWm VS+G-J aJm| H$s Am^m H$s H$m\$sAN>r _mJ&

+0.90 H$aQ> hmQ> H$Q>Jar ahoJm&D-F aJm| H$s Am^m H$s _mJ _| gwYma hmoJr&

1.00

(4/4)

gm_m`V: g^r dJm] Ama lo{U`m| _| H$m\$s AN>r _mJ&VS VWm Sl _mb H$s H$m\$s _mJ&D-F aJm| H$s Am^m H$s _mJ ~T>r h&

g{Q>\$mBS> SI _mb _| H$_r ahoJr&r{_`_ gmBO m H$aZm H${R>Z ahoJm&

+3.00 Sl1+/H-K aJm| H$s Am^m H$s H$m\$s AN>r _mJ&

+5 H$aQ> gmBO _| VS/I-K H$s _mJ ~T>r h&

+5 H$aQ> gmBO _| H$_r XoIr OmEJr&

H$_r Ho$ H$maU H$s_V D$na Om gH$Vr h&

_w~B {ham ~mOma H$m H$mamo~ma


10/60

Spotlight

10 IDEX MagazInE InDIa REtaIl | nO 06: spOtlIg

Gemfields has brought

about something of

a revolution in the

global emerald industry. As the

worlds first integrated emerald

mining and marketing company,

it has brought about a cohesion

in the emerald process pipeline

and collaborative marketing and

promotion efforts, much the way

De Beers has done for diamonds.

Jaipurs emerald dealers have long

had to scour different corners of

the earth to secure the rough

they need to feed their cutting

and polishing units. Gemfieldsbrought about a sea change last

year, when it first held an acution

for lower-grade emerald rough

mined from its Zambian mine in Jaipur itself. Lower-

grade rough is sold in large lots and produces polished

for the mass market.

Rupak Sen is Gemfields regional marketing director

for Asia. He has long been associated with diamonds,

jewellery and gemstones. It began when he joined the

De Beers India team in January 1998 and was part of

the effort to prod latent demand for diamonds from

the Indian consumer. He then did successive stints with

the Longines brand of the Swatch Group and De Beers

Diamond Trading Company (DTC) sightholder D. Nav-

inchandra & Co.

Sen responded to questions from IDEX Magazine In-

dia Retail by email shortly after Gemfields concluded an-

other auction of . Excerpts:

How many rough emerald auc-

tions have you held in India

so far. How have they evolved

since you first started?

This is the second lower grade

auction that Gemfields has con-

ducted in Jaipur. There has been

an overwhelming response to our

auctions from manufacturers and

dealers. There has been robust

growth in demand and prices for

rough emeralds in general and

Gemfields ethically mined emer-

alds in particular have gone up.

This year 48 companies tenderedbids at the auction as against 25

companies in 2010.

How many carats did you bring into India for your

first auction and how many were there in the one

just concluded? What has the evolution been in

value terms?

The March 2011 auction offered a total of 16.82 million

carats as compared to the 28.90 million carats that were

offered in 2010. In value terms, if we compare the twoauctions, there has been a 148 percent increase in the

per carat price from $0.31 in 2010 to $0.77 this year.

How much of your total rough emerald output do

you sell in India?

Jaipur is the largest emerald cutting and polishing centre

in the world as well as being the largest trading market.

Processing expertise has been passed down and devel-

Gemfields Boosts Emeralds

From Mine To MarketPROMOTION CAMPAIGN AIMS AT A WOMANS INDIVIDUALITY

By Vinod Kuriyan

RUpaK sEn


11/60IDEX MagazInE InDIa REtaIl | nO 06: spOtlIght

oped over generations in the city. The vast majority of

Gemfields emeralds will be cut and polished in Jaipur.

Do you have long long-term sales contracts? Howmuch do you sell to regular Indian clients other

than the auctions in India, as a percentage of your

total sales?

Gemfields is committed to bringing its ethically mined

rough emeralds to market through the closed tender

auction system. The only time rough might be sold out

of auction is if a schedule has not reached the reserve

price set on more than one occasion.

As Gemfields is the first really cohesive emeraldmining operation of scale, do you see yourselves

in the role De Beers played for diamonds pro-

moting the finished product and enhancing the

value of emeralds in general? Do you have any

global promotional plans? Any in India?

In an initiative to rebrand Zambian emeralds worldwide,

Gemfields is debuting the worlds first emerald advertis-

ing campaign across India Uniquely You.

India is the fastest growing jewellery market in the world

and gemstones are an integral part of the culture. The

countrys rich emerald history is a perfect launch site for

our definitive message on Gemfields emeralds, includingthe innate characteristics of the gems itself, our ethical

mining concerns and the significant value they present

to the market.

The tagline, Uniquely You references both the gemstone

and the woman who wears it. Each precious gems dis -

tinct, regal quality ensures that it is Uniquely You and

adds an element of individuality and elegance to each

wearer. The campaign will reintroduce affluent women

to the defining and alluring characteristics of the fabled

green gemstone; gems that have been prized and valuedby women of substance throughout the ages.

Emeralds often incorporate jardins or fissures, that

prove each gem to be one-of-a-kind masterpieces. Gem-

fields asserts that each and every emerald consumer is

also a standout individual. Women who choose emeralds

including Angelina Jolie, Cate Blanchett and Julianne

Moore dare to be different, embracing both the rarity

and beauty of such a rare and distinctive gem.


12/6012 IDEX MagazInE InDIa REtaIl | nO 06: spOtlIg

Adverts will appear in leading Indian fashion and life-

style publications throughout 2011.

What do you think can be done specifically in

India, where a disproportionately high percent-

age of emeralds (indeed all coloured gemstones)

are sold for astrological purposes? How can theindustry break out of this segment, which has a

tendency to keep prices down?

Over the past few years we have seen more and more

consumers buying emeralds to set in jewellery and not

just for astrological purposes . But gemstones have been

a part of Indian culture for a very long time and so have

they been a part of astrological belief for very long as

well. Most gemstones used for astrological purposes are

that of the low and commercial quality.

We at Gemfields are working with leading jewellers to

create unique pieces of emerald jewellery which would

be trend setters and ensure that more and more con-

sumers emeralds set in jewellery. We are also working

with retailers and their sales staff and training them on

emeralds. This would ensure that sales staff have proper

product knowledge and they are able to handle consum-

er questions better.

We are also developing point of sale material which

would help us position emeralds better.

Tell us something of your future plans for the

global emerald industry.

Gemfields current marketing focus is directed at the In-

dian and Asian markets, where it will be launching a mar-

keting, promotions and retailer training program aimed

at educating the Indian retail community on Gemfieldsand Zambian emeralds. Since the initatives launch, the

sales staff of over 35 large Indian retailers in Western In-

dia have been trained.

Gemfields is moving forward with plans to recreate the

successful Emeralds for Elephants project in India in

2011. We have also appointed a public relations firm in In-

dia and the UAE to grow the emerald category and create

aspiration for Gemfields Zambian emeralds in these two

growing markets through product placement, media cov-

erage, celebrity endorsement and industry collaborations.

Gemfields has been working on initiating ongoing part-

nerships between our distribution partners and leading

Indian jewellery manufacturers to create Zambian emer-

ald collections for the US mass retailer market. We have

also been working with a number of US-based jewellery

television companies who have visited the mine to under-

stand how emeralds are mined, taking footage to air on

their TV channels, including the mining, sorting and grad-

ing process, our community and environmental initiatives

and interviews with key individuals in the Company.


13/60


14/6014 IDEX MAGAZINE INDIA RETAIL | NO 06: SPOTLIG

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15/60IDEX MAGAZINE INDIA RETAIL | NO 06: SPOTLIGHT

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Events

16 IDEX MagazInE InDIa REtaIl | nO 06: EV

Indian diamond jewellery consumption is

growing faster than Chinas, according to De

Beers Diamond Trading Company (DTC)

managing director Varda Shine. Speaking to the media

in Mumbai on April 11th, she noted that in 2010,

diamond jewellery demand in China grew 25 percent,

while Indian demand grew 31 percent. In the last five

years, she said, diamond jewellery demand in India

had grown 50 percent. And this year, she said, Indian

diamond demand is expected to grow at least 20

percent. Shine and a DTC team are currently in India

conducting their annual business review of the Indian

industry.

She said that on a tour of jewellery retailers in Delhi,

Bangalore and Mumbai, she had found that there

had been a strong migration to diamond jewellery in

what was on offer at these outlets. Indian

diamond consumption

was currently between 10- and 11 percent of global

consumption. It was worth noting, she observed, that the

growth in Indian demand was based on the consumption

of small diamonds in large volumes 80 percent ofthe carats consumed in India are small diamonds. In

contrast, she went on, 80 percent of the carats consumed

in China were accounted for by diamonds that were

0.5 carat and larger.

Together with the demand growth in India and China, she

said, the US market, which still accounted for 38 percent

of global diamond consumption, was experiencing a

strong bounce back. According to her, the US market

Indian Diamond Demand Grew FasterThan China In 2010: Varda Shine

DIaMOnD tRaDIng cOMPany

ManagIng DIREctOR VaRDa ShInE

InDIanS aRE wEaRIng MORE DIaMOnD jEwEllERy than bEfORE


17/60IDEX MagazInE InDIa REtaIl | nO 06: EVEntS

DIaMOnD jEwEllERy IS hOt On thE InDIan catwalk nOw

was expected to grow in the high single digits this

year. Juxtaposed with the fact that no new diamond

mine had been found in the last decade, she observed,

it indicated that demand was set to outstrip supply in

the near future, resulting in a strong upward pressure

on polished prices.

All these factors put together she said, had led De Beers

to dub this the diamond decade.

Shine observed that De Beers own mine production was

almost back up to full output mine production this

year is projected at 38 million carats as a result of the

strong demand. In response to a question she said that

demand was so strong that even if the current impasse

over the export of diamonds from Zimbabwe were to

be resolved soon and rough from that country came

onto the market, it wouldnt change the fundamentals

of the market and there would still be a gap between

demand and supply.

On the subject of Zimbabwe, she said that De Beers

wanted a resolution of the problem as soon as possible

and hoped that the Kimberley Process (KP) meeting

called specifically for this would be able to come up

with a solution. In the absence of a solution and a clear

KP mandate, she said, De Beers stipulation to clients

that they maintain best practice principles (BPP) meant

that they should not trade in or process these goods.

She said that though it didnt make this public, De Beers

had initiated strong action against those clients who

had violated BPP norms.

Visit www.idexonline.com for liVe news updates


18/6018 IDEX MagazInE InDIa REtaIl | nO 06: EV

T

he Gem & Jewellery Export Promotion

Council (GJEPC) announced on April 19th

that the country had exported gems and

jewellery worth $43.14 billion during the fiscal year

ended March 31, 2011. This is a growth of 46.89%

over the previous year. Gems and jewellery accounted

for 16.67% of Indians total merchandised exports.

Indicating that the good news wasnt over yet, GJEPC

chairman Rajiv Jain announced that gem and jewellery

exports are expected to grow between 35% and 40% in

fiscal 2011-12.

Net exports of cut and polished diamonds for the same

period accounted for $28.25 billion, a growth of 54.91%over the $18.24 billion recorded in fiscal 2009-10. Jain

announced that exports of gems and jewellery to the

United States had grown 50.5% over fiscal 2009-10,

signalling a strong bounce-back by Indias single largest

gem and jewellery export market.

Interestingly, the single largest export market for Indian

gem and jewellery products in fiscal 2010-11 was the

United Arab Emirates, which accounted for 47% of the

total. Hong Kong accounted for 22% of the total, while

the US recorded 11%. Explaining this, Jain and GJEPC

vice chairman Sanjay Kothari noted that Dubai had

become a major trading hub for gem and jewellery

products, particularly acting as a staging centre for

exports to emerging markets like Russia, Ukraine and

a range of other markets that had high tariff barriers.

The exports to Hong Kong were indicative of the Indian

industrys greater penetration of the mainland Chinese

market, they said.

Jain noted, however, that the GJEPC wanted to increase

direct exports to both Russia and mainland China.

Towards this, it planned buyer-seller meets over the

course of the current year that would target Russia,

China, the US and Europe. The GJEPC also planned

Indian Gem & Jewellery ExportsHit $43.14 Billion

UAE is biggEst Export dEstinAtion

gjEPc tEaM annOuncES fInancIal RESultS. fROM lEft, wORkIng cOMMIttEE MEMbER nIRMal baRMEcha, gjEPc EXEcutIVE DIREctOR

SabyaSachI Ray, chaIRMan RajIV jaIn, VIcE chaIRMan Sanjay kOthaRI anD DIaMOnD PanEl cOMMIttEE cOnVEnER bakul MEhta


19/60IDEX MagazInE InDIa REtaIl | nO 06: EVEntS

to address the Latin American market by sending a

trade delegation during the year.

That the Indian industry was moving downstream in its

product offerings for export was indicated by the fact

that gold jewellery (both plain and set with diamonds and

coloured gemstones) accountedfor 29.86% by value of total gem

and jewellery exports. Cut and

polished diamonds, however,

at 65.49%, still accounted for

by far the largest share of total

exports.

Jain also unveiled a promotion

campaign that is set to run over

the year, with the object of

developing the Made in Indiabrand for gem and jewellery

products. One of the GJEPCs

current goals is to make India

a preferred destination for

jewellery design.

In answer to a question, vice

chairman Kothari said that

the strong growth in diamond

consumption in India had led the GJEPC to do away

with any plans for generic diamond promotion within

the country. Last year, with De Beers having withdrawn

from generic advertising, the GJEPCs Anant umbrella

campaign for diamond jewellery had been the only

one of its kind in the world.

thE InDIan InDuStRy nOw PROcESSES EVERy SIzE, cOlOuR anD claRIty Of DIaMOnDS

DIaMOnD SawIng unIt huMMIng tO caPacIty


20/60


21/60

SAY IT WITH FLOWERS

When it comes to inspiration, jewelry designersseem to have a never-ending fascination with

the world of nature, especially flowers. At IDEXMagazine, we also love to fawn over fauna.Although we cant promise you a rose garden,

we can promise you some stunning styles withthe latest floral jewelry and watch designs.

BLOOMING BEAUTY

Harry Winston has created the versatile

Rosebud, which can be worn as a watch, a brooch

or a pendant. The watch case, which is made of

white gold, features 16 baguette-cut diamonds

(1.8 carats), 26 pear-cut diamonds (2.9 carats)

and 126 brilliant-cut diamonds (2 carats) while

the dial is constructed of mother of pearl. Thesnap link of the white gold chain includes 12

brilliant-cut diamonds. Finally, the strap buckle is

set with 29 brilliant-cut diamonds, giving a total

diamond weight of 6.9 carats.

JEWELRY BY HARRY

WINSTON

IDEX MAGAZINE INDIA RETAIL | NO 06: RETAIL ET CETERA

RetailEtCetera


22/60

MON AMOUR

How can you not just fall in

love with this beautiful jewelry

by Eurocatene for Gold

Expressions? The Rosa Mon Amour

collection is a wildly romantic yellow and

pink gold bouquet. Roses bloom in delight,

with petals bursting open to reveal a golden

pink hue.

JEWELRY BY TRE SPIGHE

FOR GOLD EXPRESSIONS

A ROSE BY ANY

OTHER NAME

Tre Spighe for Gold Expressionshas

taken the rose as inspiration for itsSentiero

collection. The jewelry, a take on the most romantic

of flowers, is at the same time glamorous

and simply stunning, and just perfect for

a modern-day style goddess!

JEWELRY BY EUROCATENE

FOR GOLD EXPRESSIONS

22 IDEX MAGAZINE INDIA RETAIL | NO 06: RETAIL ET CETE


23/60

JEWELRY BY CYNTHIA GALE

TREE OF LIFE

Designer Cynthia Gale has teamed up oneagain with the Jewish Museum in New York

to produce 11 new jewelry pieces incorporating

sterling silver, white pearl, sterling and brass, mother

of pearl and onyx. The pieces are inspired by the

museum's Judaica collection. These Tree of Life

pieces, are based on the delicate filigree scrollwork

of a Hanukkah lamp.

BELL OF THE BALLBritish jeweler Shaun Leane has captured the

delicate beauty of woodland flowers with his new

Maybellcollection. The line is executed in white gold

and features graceful racemes that gently bow with

diamond-set flowers. Glamorous earrings shimmer

with bell-shaped blossoms while a single bow falls

softly over a chain to form a necklace of trembling

diamond buds. Stems of maybells trace the finger,

while a dramatic cuff of fine gold branches shivers

with their load of diamond flowers.

JEWELRY BY SHAUN LEANE

IDEX MAGAZINE INDIA RETAIL | NO 06: RETAIL ET CETERA


24/60

India DRB Launch

24 IDEX MAGAZINE INDIA RETAIL | N

GJF IMMEDIATE PAST PRESIDENT VINOD HAYAGRIV, GJF PRESIDENT BACHHRAJ BAMALWA AND PAST PRESIDENT ASHOK MINAWALLA DEMONSTRATE THE

TABLET COMPUTER VERSION OF THE IDEX RUPEE DRB SYSTEM AS IDEX ONLINE INDIA MANAGING DIRECTOR YARON BARZILAY EXPLAINS ITS WORKING.

LOOKING ON AT LEFT IS GJF DIRECTOR HARISH SONI.

India got its first ever diamond price referencing

system for consumers when IDEX Online

formally launched its proprietary Diamond

Retail Benchmark (DRB) computed in rupees in

conjunction with the All-India Gem & Jewellery Trade

Federation (GJF) on April 21 in Bangalore.

GJF Chairman Bachhraj Bamalwa said, The release of

the benchmark highlights the GJFs commitment to

the industry as it will address a long-standing need

of jewellers and consumers. Bamalwa observe that

the timing of this release was most appropriate as the

industry is currently grappling with rapidly escalating

IDEX & GJF

Launch Consumer-AssuringRupee DRB In India


25/60IDEX MAGAZINE INDIA RETAIL | NO 06

prices. IDEX India managing director noted that a third-

party referencing system like the DRB would bring about

greater consumer confidence in diamonds.

Even modern, urban Indian consumers, whose jewellery

purchases are now driven by fashion and style, are known

to seek value in the product. This is what drives the heavy

buying of gold and gold jewellery that is legendary. For

this, a reference price is a vital ingredient. Purchase goes

ahead regardless of the price as long as the consumer

is clearly aware that the quoted value of the product is

in sync with some global referencing system.

To ensure that on the one hand, consumer confidence

was kept up and that on the other, retailers didnt

spiral downward into a cut-throat discount war, the

GJF, some time ago, initiated a countrywide gold price

benchmarking system. The system is voluntary, but has

been adopted by over 80 percent of the jewellery retailerswho have access to it. Today, twice a day, every single

day, the GJF sends out the benchmarked gold price for

the day to 50,000 retailers directly by text message to

their mobile phones.

The results have been extremely positive. There are no cut-

throat discounts and consumers all around the country

know that the retailer is charging them a fair price when

they are shown the GJF benchmarking message. This

has led to a tremendous boost in consumer confidence.

Diamonds, however, have been at a disadvantage hitherto

as there has been no corresponding price benchmarking

system for them.

Realising that IDEX, with its already developed

global DRB system in US dollars had the necessary

expertise to help them bring about a standardisation

in the price of diamonds among retailers across the

country, the GJF sought a collaboration some time ago.

Since then, IDEX and the GJF have worked steadily

toward perfecting a DRB for India that would be

quoted in rupees. IDEX launched the rupee DRB in its

IDEX Magazine India Retail monthly journal. The

magazine goes out to over 5,000 retailers across India

and the feedback from the rupee DRB was extremely

positive.

The encouraging response spurred IDEX to workon developing an electronic system to distribute

the benchmark prices. With the deep penetration

of mobile phones into even the remotest rural areas

in India provided the most obvious vehicle for the

system. The development of the tablet computer and

the adoption of 3G networks by all the major network

providers in India led to the stage the development

of the www.drbindia.com website. This website, part

of www.idexindiaretail.com, went active and was

formally launched at a press conference

in Bangalore by the GJF.

The website, in conjunction with the

accelerated use of tablet computers,

has opened an exciting new door for

Indian jewellery retailers. At any time

in any place in India, a diamond price

benchmark is available for the retailer

to immediately access and reassure a

consumer with. Coupled with the over

450,000 diamonds listed for sale on

the IDEX Online system, the retailer

has the really powerful ability to bothassure his customer on prices and

guarantee the delivery of any specific

diamond of choice. EASY ACCESS TO DIAMONDS AND THEIR PRICES ONLINE

VISIT WWW.IDEXONLINE.COM FOR LIVE NEWS UPDATES


26/60


27/60

For the first time ever, Indian diamond jewellery retailershave a retail benchmark for diamond prices, enabling

them to assure their consumers about the retail prices

being charged for diamonds. The endorsement of the All

India Gems & Jewellery Trade Federation (GJF) makes

the benchmark prices accepted countrywide, giving the

consumer further confidence to buy diamonds.

The Diamond Retail Benchmark (DRB) is derived from up-

to-date market data using an objective and fully transparent

system. Standard retail mark-ups across the country have

been factored in to ensure that the norms of every geographic

market in the country are accounted for.

The diamond category is one of the few retail sectors that

up to now has not had a credible retail price benchmark

for consumers. For consumers, many of them first-

time diamond buyers, the purchase of a diamond may

sometimes prove to be a confusing experience. As a

luxury product that is bought to celebrate major lifeevents and which will accompany them everywhere,

confidence is essential. Consumers should be able to

buy a diamond with the confidence of knowing they

paid a fair price.

The DRB presents a retail price benchmark for a diamond

based on each of the 4Cs Cut, Carat, Colour and Clarity.

The DRB should be used as background information

only. Actual prices are determined by the sellers.

Your input will only make the system better. We urge

you to contact us at anytime with your comments,

suggestions and questions.

IDEX Online

Call us at (022) 6633 2187

Fax us at (022) 6633 2186

Email us at [email protected]

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AmBSo>g AmZcmBZ(022) 6633 2187 na gnH$ H$a|&(022) 6633 2186 \$g na gnH$ H$a|&[email protected] na B_oc H$a|

AmBSo>g AmZcmBZ hram [aQ>oc ~|M_mH$-EH$

OmZH$mar

ABOUT THE IDEX ONLINE DIAMOND RETAIL BENCHMARK

IDEX Magazine India Retail | NO 06: DRB


28/60


29/60

This price list reflects sugges ted retail prices for polished diamonds. Diamonds may, and should, sell at discounts compared to this list. For moreeducation on prices and discounts please visit www.diamondSRP.com. Copyright 2009 by WFDB and IDEX Online S.A. All rights reserved

D R A F T J A N U A R Y 1st 2 0 10

IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3

D 195709 160916 139171 121774 113076 86982 73934 65236 56538 43491 30444

E 165265 147869 126123 113076 104378 82633 69585 65236 52189 39142 26095

F 156567 143520 117425 104378 95680 78284 65236 60887 47840 34793 26095

G 143520 126123 108727 95680 82633 69585 60887 56538 43491 34793 21745

H 126123 113076 100029 86982 73934 65236 56538 52189 39142 30444 21745

I 104378 91331 86982 78284 65236 60887 52189 47840 39142 30444 21745

J 78284 73934 69585 60887 56538 52189 47840 43491 34793 30444 17396

K 69585 65236 60887 52189 47840 43491 39142 39142 34793 26095 17396

L 56538 52189 52189 47840 47840 43491 39142 30444 26095 21745 13047

M 47840 47840 43491 39142 39142 34793 30444 26095 21745 17396 13047

N 39142 43491 34793 30444 30444 26095 21745 21745 17396 13047 13047Round

1/5

(0.18-

0.22)


D 227750 187261 161955 141711 131589 101222 86039 75917 65794 50611 35428

E 192322 172078 146772 131589 121467 96161 80978 75917 60733 45550 30367

F 182200 167016 136650 121467 111344 91100 75917 70855 55672 40489 30367

G 167016 146772 126528 111344 96161 80978 70855 65794 50611 40489 25306

H 146772 131589 116405 101222 86039 75917 65794 60733 45550 35428 25306

I 121467 106283 101222 91100 75917 70855 60733 55672 45550 35428 25306

J 91100 86039 80978 70855 65794 60733 55672 50611 40489 35428 20244

K 80978 75917 70855 60733 55672 50611 45550 45550 40489 30367 20244

L 65794 60733 60733 55672 55672 50611 45550 35428 30367 25306 15183

M 55672 55672 50611 45550 45550 40489 35428 30367 25306 20244 15183

N 45550 50611 40489 35428 35428 30367 25306 25306 20244 15183 15183

/

Round

-1/2

(0.45-0

.49)

/


D 324061 274205 236814 211886 174494 137103 124639 112175 87247 68551 49856

E 274205 243046 211886 199422 168262 130871 112175 105943 81015 62319 43624

F 261741 236814 205654 186958 155798 124639 105943 99711 81015 62319 43624

G 236814 205654 180726 162030 137103 118407 99711 93479 74783 56087 37392

H 211886 186958 162030 143335 124639 112175 93479 87247 68551 56087 37392

I 180726 155798 143335 124639 112175 99711 87247 81015 62319 49856 37392

J 143335 130871 124639 105943 93479 87247 81015 74783 56087 49856 31160

K 130871 118407 112175 93479 87247 74783 68551 62319 49856 43624 31160

L 112175 105943 99711 87247 81015 68551 62319 56087 43624 37392 24928

M 93479 87247 81015 74783 68551 62319 56087 49856 37392 31160 24928

N 74783 68551 62319 62319 56087 56087 49856 43624 31160 24928 24928


D 509650 391560 341838 273471 254825 211318 167812 155381 124305 99444 68368

E 379130 341838 316977 261040 229964 192673 155381 142951 118090 93229 62152

F 341838 316977 292116 248610 217534 174027 142951 130520 111874 87013 62152

G 304547 279686 261040 229964 192673 155381 124305 118090 105659 80798 55937

H 273471 248610 223749 198888 167812 142951 118090 111874 99444 74583 55937

I 223749 205103 186457 161596 142951 124305 111874 105659 93229 74583 55937

J 174027 161596 149166 130520 124305 111874 99444 93229 87013 74583 49722

K 149166 142951 136735 118090 111874 99444 93229 87013 80798 68368 49722

L 130520 124305 118090 111874 105659 93229 87013 80798 68368 62152 43507

M 111874 105659 99444 93229 93229 80798 74583 68368 62152 55937 37291

N 93229 87013 80798 74583 80798 68368 62152 55937 55937 49722 31076


D 258059 212182 183508 160570 149101 114693 97489 86020 74550 57346 40142

E 217916 194978 166304 149101 137631 108958 91754 86020 68816 51612 34408

F 206447 189243 154835 137631 126162 103223 86020 80285 63081 45877 34408

G 189243 166304 143366 126162 108958 91754 80285 74550 57346 45877 28673

H 166304 149101 131897 114693 97489 86020 74550 68816 51612 40142 28673

I 137631 120427 114693 103223 86020 80285 68816 63081 51612 40142 28673

J 103223 97489 91754 80285 74550 68816 63081 57346 45877 40142 22939

K 91754 86020 80285 68816 63081 57346 51612 51612 45877 34408 22939

L 74550 68816 68816 63081 63081 57346 51612 40142 34408 28673 17204

M 63081 63081 57346 51612 51612 45877 40142 34408 28673 22939 17204

N 51612 57346 45877 40142 40142 34408 28673 28673 22939 17204 17204Round

1/3

(0.29-

0.37)


D 297624 251836 217495 194601 160259 125918 114471 103024 80130 62959 45788

E 251836 223218 194601 183153 154536 120194 103024 97300 74406 57235 40065

F 240389 217495 188877 171706 143089 114471 97300 91577 74406 57235 40065

G 217495 188877 165983 148812 125918 108747 91577 85853 68683 51512 34341

H 194601 171706 148812 131642 114471 103024 85853 80130 62959 51512 34341

I 165983 143089 131642 114471 103024 91577 80130 74406 57235 45788 34341

J 131642 120194 114471 97300 85853 80130 74406 68683 51512 45788 28618

K 120194 108747 103024 85853 80130 68683 62959 57235 45877 40065 28618

L 103024 97300 91577 80130 74406 62959 57235 51512 40065 34341 22894

M 85853 80130 74406 68683 62959 57235 51512 45788 34341 28618 22894

N 68683 62959 57235 57235 51512 51512 45788 40065 28618 22894 22894

/


D 623453 476758 409523 360625 330063 281165 250604 207818 177256 116133 73347

E 458421 409523 366737 342288 305614 268940 238379 195593 171144 110021 73347

F 409523 372849 342288 317839 287277 250604 220042 189481 165032 103909 67235

G 366737 330063 305614 281165 256716 226154 201705 183368 158919 103909 61123

H 330063 299502 275053 250604 232267 207818 189481 171144 146695 97796 61123

I 275053 256716 244491 226154 207818 189481 165032 152807 140582 91684 61123

J 207818 201705 195593 177256 171144 165032 152807 134470 128358 85572 55011

K 183368 177256 171144 152807 146695 134470 122246 116133 103909 79460 55011

L 152807 146695 140582 134470 128358 122246 110021 103909 79460 67235 48898

M 140582 134470 128358 122246 116133 110021 103909 97796 73347 61123 42786

N 128358 122246 116133 110021 103909 97796 97796 91684 67235 55011 36674Round

3/4

(0.70-0.89)


D 759184 633649 549960 436381 394536 370625 316825 245091 197268 137490 83690

E 627671 591805 502137 400514 376603 346714 304869 233135 191290 131512 77712

F 591805 561915 466270 382581 358669 328780 292913 227157 185313 125534 77712

G 502137 460292 394536 352692 328780 304869 269002 215202 179335 119556 71734

H 406492 382581 358669 334758 310847 280958 257046 203246 167379 113579 71734

I 340736 322802 298891 286936 263024 251069 227157 185313 155423 107601 65756

J 280958 269002 257046 245091 227157 221179 203246 167379 143468 101623 65756

K 233135 227157 215202 203246 191290 185313 167379 143468 113579 89667 59778

L 197268 191290 185313 173357 167379 161401 149446 131512 107601 83690 53800

M 179335 173357 167379 161401 155423 149446 137490 119556 101623 77712 53800

N 161401 155423 149446 149446 143468 137490 125534 107601 95645 71734 53800

Prices are in Rupees Per Carat Powered by www.idexonline.c

DRAFT MAY 1st 2011

THE DIAMOND RETAIL BENCHMARK - INDIA

DIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS

DRAFT MAY 1st 2011

Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is basemarket data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Fedeof Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transasource of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by T

India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consum


30/60


DRAFT MAY 1st 2011


D 1500994 1104628 942182 714759 558812 474340 396366 311895 266410 181939 103965

E 1026654 968174 818724 656279 526323 441851 376873 292401 253415 175441 97467

F 929187 844715 747248 597798 500331 422358 357380 279406 240419 168943 90969

G 656279 630287 604296 526323 467842 396366 344384 266410 233921 162445 84472

H 545816 519825 487336 441851 402864 376873 331388 259912 220926 155947 84472

I 467842 454847 422358 376873 357380 337886298899 240419 201432 142952 77974

J 389869 376873 363877 344384 311895 298899 279406 214428 175441 129956 77974

K 350882 337886 324890 311895 266410 259912 233921 194934 162445 116961 71476

L 311895 298899 292401 279406 246917 233921 207930 181939 149450 103965 64978

M 259912 253415 240419 227423 201432 188436 168943 142952 129956 97467 64978

N 207930 207930 188436 175441 155947 142952 129956 107601 110463 90969 64978Round

4/4

(1.0

0-1.4

9)


D 1676944 1357824 1251451 957360 769642 619468 506838 387950 306605 193975 112631

E 1326538 1270223 1063733 901045 732099 594439 481809 369178 294091 187718 106373

F 1151335 1051219 1001161 825958 700813 563153 450522 356664 281576 181460 100116

G 807186 788414 750871 682041 613211 513095 419236 331635 269062 175203 93859

H 650755 631983 613211 556896 519352 475551 400464 306605 256547 168946 93859

I 575667 569410 550638 488066 450522 419236 356664 281576 244033 156431 87602

J 475551 469294 450522 406722 369178 356664 312863 250290 206489 143917 87602

K 387950 375435 362921 356664 319120 294091 269062 225261 187718 131402 81344

L 350406 337892 325377 306605 281576 269062 244033 206489 168946 125145 75087

M 294091 287834 275319 269062 237776 225261 206489 175203 150174 112631 75087

N 237776 237776 225261 209596 193975 181460 168946 143917 131402 100116 75087

Round

3.0

0

(3.0

0-3.4

9)


D 42062493259505 2894332 2238374 1771764 1169905 865595 568046 486897 256973 142012

E 3191880 29010942434485 1947588 1629752 1102281 818257 540997 453085 250211 135249

F 2752320 2535922 2136937 1771764 1514791 1034656 784445 513947 426035 236686 128487

G 2204561 1981400 1785289 1589178 1332204 933219 743870 486897 405747 229924 121724

H 1670327 1602703 1487741 1298392 1115806 804732 710058 459847 385460 223161 121724

I 1190193 1156380 1115806 1000844 852070 703296 615384 419272 358410 209636 114962

J 967031 953507 919694 831782 750633 608621 540997 385460 317836 189349 108199

K 892644 852070 818257 743870 669483 520709 453085 351648 284023 175824 108199

L 669483 635671 601859 574809 520709 392223 331360 290786 223161 169061 101437

M 554522 540997 520709 486897 446322 351648 297548 263736 196111 155537 101437

N 439560 446322 439560 398985 371935 311073 263736 236686 169061 142012 101437


D 4492712 34814903091448 2390816 1892428 1249581 924545 606733 520057 274474 151683

E 3409260 3098671 2600283 2080227 1740745 1177351 873984 577841 483942 267251 144460

F 2939765 27086282282471 1892428 1617954 1105120 837869 548949 455050 252805 137237

G 2354701 2116342 1906874 1697407 1422933 996775 794531 520057 433381 245582 130014

H 1784083 1711853 1589062 1386818 1191797 859538 758416 491165 411712 238359 130014

I 1271250 1235135 1191797 1069005 910099 751193 657294 447827 382819 223913 122791

J 1032890 1018444 982329 888430 801754 650071 577841 411712 339481 202244 115568

K 953437 910099 873984 794531 715078 556172 483942 375596 303366 187798 115568

L 715078 678963 642848 613956 556172 418935 353927 310589 238359 180575 108345

M 592287 577841 556172 520057 476719 375596 317812 281697 209467 166129 108345

N 469496 476719 469496 426158 397266 332258 281697 252805 180575 151683 108345


D 2379914 1921781 1731387 1416049 1029313 785372 642577 440284 345088 202293 113046

E 1862283 1743287 1487446 1267304 987664 767522 624727 428385 333188 196343 107096

F 1636191 1475547 1326802 1118560 946016 725874 583079 410535 321288 190393 101146

G 1178057 1082861 987664 904367 827020 678275 559280 386736 303439 184443 101146

H 916267 856769 797271 755623 702075 606878 523581 356987 285590 178494 95197

I 743723 719924 678275 624727 577129 523581 475983 327238 273690 166594 89247

J 594978 571179 547380 511682 475983 434334 404585 297489 249891 148745 89247

K 535481 517631 499782 464083 434334 392686 362937 285590 214192 142795 83297

L 416485 404585 392686 374836 339138 309389 279640 237991 184443 136845 77347

M 356987 351037 345088 339138 291539 261791 237991 208242 154694 124945 77347

N 297489 297489 297489 270684 243941 214192 196343 178494 131402 113046 77347Round

2.0

0

(2.0

0-

2.4

9)


D 2727027 2202074 1983912 1622581 1179439 899919 736297 504500 395419 231797 129534

E 2133899 1997547 1704392 1452142 1131716 879466 715845 490865 381784 224980 122716

F 1874831 1690757 1520318 1281703 1083993 831743 668122 470412 368149 218162 115899

G 1349878 1240797 1131716 1036270 947642 777203 640851 443142 347696 211345 115899

H 1049905 981730 913554 865831 804473 695392 599946 409054 327243 204527 109081

I 852196 824926 777203 715845 661304 599946 545405 374966 313608 190892 102264

J 681757 654487 627216 586311 545405 497682 463595 340878 286338 170439 102264

K 613581 593128 572676 531770 497682 449959 415872 327243 245432 163622 95446

L 477230 463595 449959 429507 388601 354514 320426 272703 211345 156804 88628

M 409054 402237 395419 388601 334061 299973 272703 238615 177257 143169 88628

N 340878 340878 340878 310163 279520 245432 224980 204527 143169 129534 88628

Round

4.0

0

(4.0

0-4

.99)


D 5013767 3984413 3643222 2937709 2307374 1405243 1012006 606733 520057 274474 151683

E 3972847 3625873 3134327 2625433 2180150 1353197 983092 577841 483942 267251 144460

F 3585393 3128545 2822051 2428815 1995098 1283802 959960 548949 455050 252805 137237

G 2706393 2428815 2278459 2145453 1752216 1139230 884782 520057 433381 245582 130014

H 2058710 1954618 1821611 1694387 1422591 1017789 815388 491165 411712 238359 130014

I 1486203 1411026 1353197 1249105 1092967 850085 722862 447827 382819 223913 122791

J 1197059 1139230 1104532 1017789 902131 745993 630335 411712 339481 202244 115568

K 1017789 954177 919480 855868 763342 607204 537809 375596 303366 187798 115568

L 715078 678963 642848 613956 556172 433717 375888 310589 238359 180575 108345

M 601421 578289 560941 526243 479980 387454 335408 281697 209467 166129 108345

N 503112 491546 485763 445283 422151 341191 294927 252805 180575 151683 108345


D 7031636 5324366 4791929 4033786 3067298 1869315 1267431 636609 520057 274474 151683

E 5272280 4745631 4178470 3617097 2893677 1730419 1226919 601885 483942 267251 144460

F 46298844166895 3819654 33856022488562 1579948 1174833 578735 455050 252805 137237

G 3472413 3125171 2876315 2644821 2199195 1458413 1111172 555586 433381 245582 130014

H 2777930 2517499 23149422083448 1741994 1267431 1001212 497712 411712 238359 130014

I 2002425 1875103 1811442 1620459 1458413 1070661 868103 447827 382819 223913 122791

J 1504712 1429477 1331092 1273218 1215344 954913 769718 411712 339481 208345 115568

K 1174833 1088023 1035936 978063 920189 752356 636609 375596 303366 190983 115568

L 862316 827592 787080 752356 694483 578735 439839 318304 248856 180575 108345

M 746569 711845 682908 653971 625034 520862 393540 283580 214132 166129 108345

N 630822 596098 578735 555586 555586 462988 347241 252805 180575 151683 108345



DRAFT MAY 1st 2011

Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is basmarket data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Fedof Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transsource of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by

India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consu

30


31/60


D 117413 109838 98476 90901 75751 68176 56813 53025 45450 34088 22725

E 109838 102263 90901 75751 64388 60600 53025 53025 41663 30300 22725

F 102263 94688 79538 68176 60600 56813 49238 49238 37875 26513 18938

G 94688 83326 71963 64388 56813 53025 45450 45450 34088 26513 18938

H 75751 71963 64388 60600 53025 49238 41663 41663 30300 22725 18938

I 60600 56813 53025 53025 49238 45450 37875 37875 30300 22725 15150

J 49238 45450 45450 41663 41663 37875 34088 34088 26513 18938 15150

K 41663 37875 34088 34088 34088 30300 26513 26513 22725 18938 15150

L 37875 34088 34088 30300 30300 30300 26513 22725 15150 15150 11363

M 34088 34088 34088 30300 30300 30300 26513 22725 15150 11363 11363

N 34088 34088 34088 30300 30300 30300 26513 22725 15150 11363 11363Fancy

1/5

(0.1

8-

0.2

2)


D 131623 123131 110393 101901 84918 76426 63688 59443 50951 38213 25475

E 123131 114639 101901 84918 72180 67934 59443 59443 46705 33967 25475

F 114639 106147 89164 76426 67934 63688 55197 55197 42459 29721 21229

G 106147 93410 80672 72180 63688 59443 50951 50951 38213 29721 21229

H 84918 80672 72180 67934 59443 55197 46705 46705 33967 25475 21229

I 67934 63688 59443 59443 55197 50951 42459 42459 33967 25475 16984

J 55197 50951 50951 46705 46705 42459 38213 38213 29721 21229 16984

K 46705 42459 38213 38213 38213 33967 29721 29721 25475 21229 16984

L 42459 38213 38213 33967 33967 33967 29721 25475 16984 16984 12738

M 38213 38213 38213 33967 33967 33967 29721 25475 16984 12738 12738

N 38213 38213 38213 33967 33967 33967 29721 25475 16984 12738 12738


D 175497 161268 147038 137552 118579 104350 94863 85377 65136 48852 37945

E 161268 151781 137552 128066 113836 94863 85377 80634 59708 43424 33202

F151781 142295128066 118579 109093 90120 80634 75891 54280 37996 28459

G 142295 128066 118579 109093 99607 85377 71148 71148 48852 37996 28459

H 123322 113836 104350 99607 90120 80634 66404 66404 43424 33202 28459

I 99607 94863 90120 85377 75891 71148 61661 61661 43424 33202 23716

J 80634 75891 75891 71148 61661 56918 52175 52175 37996 28459 23716

K 71148 61661 56918 52175 52175 47432 37996 37996 32568 27140 23716

L 61661 56918 52175 47432 47432 43424 37996 33202 28459 23716 18973

M 52175 48852 48852 43424 43424 43424 37996 32568 23716 18973 18973

N 48852 48852 48852 43424 43424 43424 37996 32568 21712 18975 18973Fancy

-1/2

(0.4

5-0.4

9)


D 259616220429200835 181242 166546 137156 117562 107765 93070 73476 53883

E 225327200835186140 161648 146953 122461 97968 97968 88172 68578 48984

F200835 186140166546 151851 137156 117562 93070 93070 83273 63679 48984

G 186140166546 151851 137156 122461 107765 88172 88172 73476 58781 44086

H 166546 151851 142054 127359 117562 93070 83273 83273 68578 53883 44086

I 142054 127359 122461 112664 102867 93070 83273 78375 63679 53883 39187

J 112664 102867 97968 93070 88172 83273 78375 68578 58781 53883 39187

K 88172 78375 78375 73476 73476 68578 63679 63679 53883 48984 34289

L 73476 68578 68578 63679 63679 63679 58781 58781 48984 44086 34289

M 58781 58781 58781 53883 53883 53883 48984 48984 44086 39187 29391

N 48984 48984 48984 44086 44086 44086 39187 39187 39187 34289 24492


D 168268 157412 141128 130272 108560 97704 81420 75992 65136 48852 32568

E 157412 146556 130272108560 92276 86848 75992 75992 59708 43424 32568

F 146556 135700 113988 97704 86848 81420 70564 70564 54280 37996 27140

G 135700 119416 103132 92276 81420 75992 65136 65136 48852 37996 27140

H 108560 103132 92276 86848 75992 70564 59708 59708 43424 32568 27140

I 86848 81420 75992 75992 70564 65136 54280 54280 43424 32568 21712

J 70564 65136 65136 59708 59708 54280 48852 48852 37996 27140 21712

K 59708 54280 48852 48852 48852 43424 37996 37996 32568 27140 21712

L 54280 48852 48852 43424 43424 43424 37996 32568 21712 21712 16284

M 48852 48852 48852 43424 43424 43424 37996 32568 21712 16284 16284

N 48852 48852 48852 43424 43424 43424 37996 32568 21712 16284 16284Fancy

1/3

(0.2

9-

0.3

7)


D 169537 157412 142044 132880 114552 100806 91642 82477 65136 48852 36657

E 157412 146627 132880 123716 109970 91642 82477 77895 59708 43424 32568

F 146627 137462 123716 114552 105388 87060 77895 73313 54280 37996 27492

G 137462 123716 114552 105388 96224 82477 68731 68731 48852 37996 27492

H 119134 109970100806 96224 87060 77895 64149 64149 43424 32568 27492

I 96224 91642 87060 82477 73313 68731 59567 59567 43424 32568 22910

J 77895 73313 73313 68731 59708 54985 50403 50403 37996 27492 22910

K 68731 59567 54985 50403 50403 45821 37996 37996 32568 27140 22910

L 59567 54985 50403 45821 45821 43424 37996 32568 27492 22910 18328

M 50403 48852 48852 43424 43424 43424 37996 32568 22910 18328 18328

N 48852 48852 48852 43424 43424 43424 37996 32568 21712 18331 18328

Fancy

3/4

(0.7

0-0.8

9)


D 347597 271411 257126 242842228557204749 176179 161894 123802 85709 57139

E 276173 257126247603228557209510 180941 157133 147610 119040 80947 52378

F 261888247603238080219034195226 171418 147610 138086 114278 76186 52378

G 247603 233318219034199987 180941 152371 138086 133325 109517 76186 47616

H 223795204749 199987 185702 161894138086128563 123802 99994 71424 47616

I 190464 176179 171418 157133 133325 119040 109517 104755 90470 66662 42854

J 152371 142848138086 128563 123802 114278 95232 90470 76186 61901 42854

K 128563 119040 114278 109517 104755 95232 85709 80947 66662 57139 38093

L 104755 99994 95232 90470 90470 85709 80947 71424 57139 47616 38093

M 80947 80947 80947 76186 76186 76186 71424 71424 47616 42854 33331

N 66659 66659 66662 61901 61901 61900 61901 39187 39187 38093 28570


D 394571 311986 302810284458266106252342220226 178933 133053 96349 59644

E 311986 302810284458270694256930238578206461 169757 128465 91761 55056

F 302810284458266106256930243166229402201873 165169 128465 87173 55056

G 284458266106256930247754229402 211050 188109 160581 123877 82585 50468

H 247754229402220226 211050 197285 188109 165169 151405 114701 82585 50468

I 220226206461201873 192697 178933 174345 151405 133053 110113 77997 45880

J 188109 183521 178933 169757 165169 155993 137641 119289 96349 68820 45880

K 151405 146817 142229 137641 137641 128465 119289 105525 82585 59644 41292

L 119289 114701 110113 105525 105525 100937 96349 87173 64232 50468 38093

M 91761 91761 91761 87173 87173 87173 82585 77997 50468 45880 36704

N 73409 73409 73409 68820 68820 68820 68820 68820 39187 38093 36704


Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is basemarket data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Fedeof Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transasource of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by T

India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consum

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DRAFT MAY 1st 2011


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E 416562 373959 359758345557 317155 274552 231949 194080 146743 99407 61538

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4/4

(1.0

0-1.4

9)


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N 169865 164556 148631 143323 138015 126714 126738 121228 104697 100857 58391Fancy

3.0

0

(3.0

0-3

.49)


D 2301689 1860118 1633813 1341272 1148085 822426 563003 452610 386375 204227 115912

E 1793883 1650372 1517901 12639971076330 794828 535405 430532 358777 193187 110393

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G 1379910 1286076 1214321 1015614 888662 656837 502287 391894 325659 171109 99353

H 1142565 1087369 988015 850024 728592 551964 463650 358777 298060 160070 99353

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D 1198410 871133 803753 731559 683430 553482404283 303212 235832 139574 86632

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F 803753 731559 683430 616050 567921 505353 385031 283961 221393 129948 81819

G 712308 664179 616050 567921 543857 457225 370593 269522 211767 125135 77006

H 572734 524605 476476 452412 428347 385031 317651 240645 192516 120322 72193

I 452412 428347 404283 380218 356154 336902 288773 226206 178077 115509 72193

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0-

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E 997376 920231 837575 782471 705326 606140 451850 336132 264497 154290 93676

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L 242456 231435 220414 203883 198373 192863 181842 154290 126738 104697 66124

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Fancy

4.0

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D 30285292444076219966819446341689600 1020136 701343 510068 414430 223155 127517

E 2375004219966820562121785238 1567396982944 674777 483502 387864 212528 122204

F 2146536 2056212 189681516364681392061 919185 653525 456936 366611 201902 116891

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H 1482385 1397374 1280483 1190159 1004196 743849 563200 393177 324106 180649 106264

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N 374262 368990 342634 316277 284650 253022 231937 158139 116891 115968 73798

Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is basmarket data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Fedof Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transsource of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by

India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consu



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32


33/60

Fully automated online TRADING service for polished diamonds *

GUARANTEED AVAILABILITYand door-to-door delivery to buyers * Guaranteedimmediate CASHpayment to sellers *AUTHENTICATION against grading

lab certificate* IncrediblyLOW FIXED transaction feeTo learn more please go to www.idexonline.com

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[email protected]


34/60

An Extra PromiseIn A World Short

Of Diamonds

Adding ethics &the environment tothe value proposition

By Vinod Kuriyan

34 IDEX MAGAZINE INDIA RETAIL | NO 06: COVER ST


35/60

Itisntthefirstattemptatbrandingdiamonds,butDeBeersForevermarkhasaglobalvisionandthepromiseofcertaintyinaworldmarketthatisalreadyseeingashortfallbetweenproductionandburgeoningdemand.Asitis,thereissomeworrythattheincreasingscarcitycouldpushdiamondsup,outofthereachofthemass-market,whereithasbecomepartofthefabricofsocietyintheformofthediamondengagementring.Whatimpactcouldthebrandhaveonthefutureofdiamondsingeneral?VinodKuriyanlooksatthepossibilities.

IDEX MAGAZINE INDIA RETAIL | NO 06: COVER STORY


36/60

W

hile consumer demand for dia-

monds grows exponentially,

especially in emerging mar-

kets like India and China, the

worlds major diamond mines have all long

since hit peak production and are now in

decline. An increasing number of people

want to buy diamonds today, says Ste-

phen Lussier, but the supply of diamonds

is drying up. Everybodys looking for new

mines all over the world, not to increase

production, but simply in order to be able

to maintain current production levels. Lus-

sier is the CEO of Forevermark, the diamond

brand from mining major De Beers, that waslaunched in India earlier this year, after hav-

ing successfully been launched in China. He

is also executive director for De Beers, ex-

ternal and corporate affairs and sits on the

De Beers main group executive committee.

Having been the face of all diamonds in

the world for well over half a century, De

Beers, decided a few years ago to exit its

global umbrella promotional campaigns fordiamonds when the share of global rough

diamond production that it controlled,

dropped below 50 percent. Having actively

promoted and increased the value of all

diamonds for decades, De Beers is now

focussed on promoting and increasing

the value of a small, exclusive selection

of diamonds that it does control, with the

Forevermark brand. Its efforts come at a

time that the world is seeing major changes

in the supply and demand equation for the

worlds hardest gemstone.

With the newest mines being at least 15

years old, diamond industry watchers areForevermark diamonds carry an

inscription that can only be seen

through a special viewer

Forevermark CEO Stephen Lussier

36 IDEX MAGAZINE INDIA RETAIL | NO 06: COVER ST


37/60

Idontthinkwell seesuchan extreme change,

says Lussier, diamondswill certainly become moreexpensive andthatmuchrarer, buttheres stillenoughin the diamond

pipeline to keep thingsgoingthe way they are now.The demand for smalldiamonds has been very

strongin volume terms andwithincreasingscarcity,well see adaptations."

all agreed that the gap between supply and

demand is going to widen in the future

and all over the world, diamonds are set to

become that much rarer and definitely

more expensive. But will this increasing

rarity result in an upheaval in the diamond

market as we know it today?

Just over 50 years ago, diamonds were indeed

very rare and affordable only by the well-to-

do. Then, in the 1960s, the Indian diamond

industry began to cut and polish the small,

misshapen stones that were previously

ground into powder to use as industrial

abrasives. Suddenly, a vastly greater volume

of small, inexpensive stones came onto the worlds consuming markets and almost

overnight, almost anyone could afford a

diamond.

Consumers need reassurance that diamonds have been mined responsibly

IDEX MAGAZINE INDIA RETAIL | NO 06: COVER STORY


38/60

India had democratised diamonds and

together with De Beers

Idex Magazine May 2011 issue

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Transcript of Idex Magazine May 2011 issue