Gemesis Creates Lab-Grown Colorless Diamonds

A 1.05-carat colorless round diamond from Gemesis with Very Good cut, J color and VVS2 clarity, certified by IGI.

A Florida-based diamond company has begun selling colorless, lab-created diamonds on its Internet site directly to consumers.

Gemesis Diamond Company has been producing lab-created fancy colored diamonds (primarily yellow diamonds) for some time, with limited acceptance by the

India’s Diamond Growth to Slow Due to Lack of Rough

Photo credit: De Beers Group

Exports of gems and jewelry from India are expected to rise 5 to 7 percent in 2012/13, a slower pace than the prior year than the estimated 9 percent growth in 2011/12 that ends in March, as sourcing of rough diamonds and color stones is the "biggest constraint," Rajiv Jain, chairman of Gems and Jewellery Export Promotion Council, reportedly said.

Jain expects

Blue Nile CEO Resigns; Q3 Sales Up 11%

Diane Irvine

Diane Irvine, Blue Nile CEO, president and director, who has been with the diamond and fine jewelry online retailer since the company was founded in 1999, has resigned, effective November 11. The announcement came just minutes before the Seattle-based company reported that third quarter sales increased 11.2 percent to $75 million. Operating income for the quarter totaled $2.9

Anglo American Buys 40% Stake in De Beers Group for $5.1 Billion

The Oppenheimer family, which has owned the the De Beers Group  for more than 80 years, announced Friday that it will sell its remaining stake in the company to Anglo American plc for $5.1 billion in cash.The move will boost Anglo American’s current 45 percent stake in De Beers to 85 percent. Nicky Oppenheimer will remain as chairman of De Beers and the recently hired CEO, Philippe Mellier, will

Zale Corp Q4 Sales Up 9.4%, Comp Sales Up Nearly 10%; Losses Also Rise

A Zales jewelry store worker in San Bruno, Calif. examines watch inventory.  Photo credit: Paul Sakuma / AP

Jewelry retailer Zale Corp. said Wednesday that fourth quarter sales rose 9.4 percent year-over-year to $377 million. Same store sales for the period, ended July 31, increased 9.8 percent, compared to a decrease of 2.1 percent during the same period last year. At constant exchange

Blue Nile Q2 Sales Up 5.1%, Net Income Up 1.3%

Online diamond and jewelry retailer, Blue Nile, Inc., reported Thursday that net sales increased 5.1 percent, year-over-year, to $80.5 million, a record second quarter sales level. Net income totaled $2.8 million, up 1.3 percent.
Despite the growth in revenue, increasing diamond and precious metals prices as well as weak consumer sentiment has had a negative impact on sales, particularly in its

De Beers Names French Transport Exec as New Group CEO

Philippe Mellier

The De Beers Group has gone outside the diamond industry to appoint Philippe Mellier as its new chief executive officer.

Mellier, currently the president of Alstom Transport and executive vice president of Alstom s.a., was selected after what the diamond giant described as “a wide-ranging search.” He will formally join De Beers in July and will chair the company’s executive

Blue Nile Sets First Quarter Sales Record

Blue Nile, Inc. reported Thursday that net sales for the first quarter of 2011 increased 8.3 percent to $80.2 million, a first quarter record for the diamond and fine jewelry online retailer. Operating income for the quarter totaled $3.5 million. Net income totaled $2.4 million."We delivered record first quarter sales reflecting the strength of our consumer proposition and our relentless focus

Golconda Diamond Ear Pendants to Lead Christie's Hong Kong Jewelry Sale

Imperial Cushions: Pair of 23.49 ct. and 23.11-ct. Golconda diamond ear pendants

A pair of ear-pendants with diamonds from the legendary Golconda mines will be offered at Christie's Hong Kong Magnificent Jewels Sale on May 31. Known as the Imperial Cushions, the 23.49 cts. and 23.11 cts. D potentially flawless Golconda type IIa diamond ear-pendants has a presale estimate of $7 million to $10

Law Firms Sued for Letting Diamond Patent Lapse

This comes from “the dog ate my homework” department.

GemEx, the makers of a device that measures the light-performance quality of gemstones have sued their former patent attorneys, contending they negligently let a critical patent lapse, allowing competitors to copy the technology, the Milwaukee Journal Sentinel reports.

The Mequon, Wisc.-based company uses a patented process that