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Summary of our market study
The diamond market is an essential segment of the jewelry sector.
Despite the impact of the pandemic, which caused diamond prices to fall sharply in the first half of 2020, prices began to recover towards the end of the year. Industry giants such as De Beers and Alrosa lowered their prices to adapt to the drop in demand.
The diamond market grew by 31% in 2019 alone.
The industry faces challenges such as declining diamond production due to resource scarcity, which could fall by 30% between 2020 and 2030.
The market is seeing an increase in synthetic diamonds.
ISO 24016 standards have been introduced to create consistency in the certification of cut diamonds, updating international 4C standards and establishing clear terminologies.
French national regulations, such as decree no. 2002-65 and the "Sapin II" law, maintain strict rules on the trade and labeling of gemstones and diamonds, distinguishing between natural and synthetic diamonds.
preference trends and import dynamics on the French diamond market
The French jewelry market is a crucial part of the overall luxury goods sector, and diamonds play a role in its success. French consumers have historically shown a preference for diamond jewelry as a timeless piece.
In 2019, between 5 and 6 million French women owned gold or platinum jewelry with diamonds. French consumers prefer diamond rings, which account for 30 to 40% of the diamond jewelry market. Next come pendants, necklaces and earrings.
However, consumption patterns are changing. Between 2014 and 2019, women's wear of precious jewelry declined by around 10%. Women who wear precious jewelry have become a minority.
A strong trend is the move towards craftsmanship and personalized jewelry design. Another trend is the growing preference for designs and materials that echo natural beauty.
France is a net importer of diamonds. The country imports unsorted diamonds, as well as industrial diamonds, worked or not, but not mounted or set.
These imports are essential to satisfy domestic demand, particularly from small workshops and luxury houses renowned for their exceptional expertise and prestigious market positioning.
Diamond market players
- Alrosa, Russia's diamond giant with rich mines in the Urals and Yakutia, the world's leading diamond mining company.
- De Beers, undisputed world leader in the sector
- Rio Tinto: based in the UK, one of the world's leading mining companies
- Petra Diamonds, the UK's smallest diamond producer.
- Thom Europe, Europe's leading jewelry retailer. With the acquisition of Stroili and Oro Vivo, Thom Europe consolidates its position in the diamond retail market.
- Cartier and Bulgari, now part of the vast LVMH luxury group, are the beacons of high-end jewelry.
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Summary and extracts
1 Market overview
1.1 Presentation and definition of the diamond market
The diamond is a brilliant, hard, usually colourless, hard precious stone that can take the form of a jewellery diamond or an industrial diamond. The diamond market is a sub-segment of the jewellery market which has changed significantly following the acquisitions of the major luxury goods players who participated in the concentration of the sector.
The world diamond market represents more than $70 billion and in France, the figures lack precision because of a certain market opacity . However, the diamond market accounts for a significant share of the jewellery market, up to more than a third of this market. It should be noted that diamonds are an indissociable element of the jewellery market as they contribute to generating traffic in stores and to conveying a prestigious image that encourages consumers to buy.
Diamond dealers work in workshops integrated into the companies of trading or in small workshops (about ten specialized craftsmen in France). In France, 80% of diamond manufacturing is carried out by craftsmen with fewer than 10 employees: the market is therefore very small nuked . This is a niche business with a high level of know-how.
The luxury groups began a strategy of buying up jewellery houses in the mid-1990s and consequently a phenomenon of concentration. Thus, LVMH, a major player in the luxury sector, bought Fred, Chaumet and Bulgari. The strategy of the major groups consists in integrating the most value internally, including the know-how of the diamond dealers.
Faced with the strong competition represented by the players indian and Israeli French companies are relying on original creations and on the very high end. France can rely on an image of quality and prestige conveyed by the great luxury houses and renowned boutiques on Place Vendôme.
List of charts presented in this market study
- Volume de production de diamants
- Le marché de la bijouterie en diamant
- Répartition des ventes de bijouterie en diamant
- Pays avec les plus grandes réserves mondiales de diamant
- Production de pierres et perles pour l'industrie de la joaillerie
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Latest news
The Fondation Cartier sets sail - 29/10/2023
- Vinci Immobilier has delivered a restructured 16,000 sq.m. three-storey building in the Louvre Saint Honoré district for Société Foncière Lyonnaise (SFL).
- The SFL-owned building comprises five floors of office space above the Fondation Cartier pour l'art contemporain. SFL has invested 85 million euros in renovating the building.
- The additional amount invested by Cartier has not been disclosed.
- The Fondation Cartier pour l'art contemporain will pay rents of 18 million euros a year for the twenty-year lease signed with SFL, extendable to 40 years.
- The Fondation Cartier has a permanent collection of 2,500 works.
- The Foundation organizes 3 to 4 international exhibitions a year, including two in Paris.
Cartier strengthens its position as world leader in jewelry - 13/05/2023
- Richemont achieved sales of almost 20 billion euros for the fiscal year ending March.
- Richemont's sales rose by 19%.
- Cartier sales exceeded 10 billion euros, including watches and perfumes
- Sales of Richemont's jewelry houses (Cartier, Van Cleef & Arpels, Buccellati) rose by 21% last year to 13.4 billion euros.
- Non-branded jewelry still accounts for 70% of the market.
- The Richemont group has 2,300 boutiques worldwide, including 272 for Cartier.
- Cartier opens a new factory in Italy
Van Cleef & Arpels invests 55 million euros in Auvergne-Rhône-Alpes - 28/04/2023
- Opening of two new manufacturing sites in France, in the Auvergne-Rhône-Alpes region.
- The first in Romans-sur-Isère, in the Drôme region
- the second at Dorat, near Thiers in the Puy-de-Dôme region
- Creation of 500 jobs in the region.
Moët Hennessy has global ambitions in fine wines. - 30/06/2022
- The Insignia wine has repeatedly received top marks from Robert Parker.
- This is an opportunity for Moët Hennessy to change its game in the wine business, and above all to "achieve critical mass, particularly in the US market", the world's largest and most lucrative
- Moët Hennessy, the wines and spirits division of LVMH, has acquired 100% of the Joseph Phelps winery
- A world-renowned winery, known for its red wines from Napa Valley and Sonoma County
- Since acquiring New Zealand's Cloudy Bay some twenty years ago, the group has achieved critical mass in white wines, with over 3 million bottles produced
- Château d'Escale is best known for its Whispering Angel rosé, which is said to sell over 10 million bottles a year
Moët Hennessy acquires Joseph Phelps, one of the founding fathers of Napa Valley. - 30/06/2022
- Best known for its leading champagne and cognac brands, Moët Hennessy continues its wine offensive with the acquisition of the vineyards of Joseph Phelps, one of Napa Valley's great names.
- Since 2019, LVMH has owned 55% of Château d'Esclans (known for its Whisphering Angel) and Château Galoupet.
- The company also owns the highly prestigious Colgin and Newton.
- The group has sold over 60,000 9-liter cases, including 13,000 cases of Insignia, whose great vintages easily cost over 1,500 euros a bottle.
LVMH relaunches Provence rosés. - 16/05/2022
- Galoupet Nomade is sold exclusively on e-commerce sites.
- The brand enters the world of mass retailing with the distribution of its products in supermarket stores.
- Moët Hennessy markets its Château Galoupet cru classé de Provence after its organic conversion, in a lightweight bottle made from 70% recycled glass and a flat bottle made from recycled plastic.
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the diamond market | France
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