As the war wages on between Israel and Hamas, the industry takes stock of how the conflict is affecting Jewish communities worldwide with personal losses and anti-Semitism on the rise. You can read an excellent overview from American Gem Trade Association (AGTA) editor in chief Jennifer Heebner here. Some of the other stories catching our attention this week include the increase in gold prices, an environmental activist and A-list celebrity investing in Swiss horology, and lab-grown diamonds having a fine-jewelry moment.
The Indian industry is worried that the 3% increase in gold prices will have a negative impact on jewelry demand for the upcoming Diwali festival, The Hindu Business Line reports.
The Financial Times writes about Hollywood actor Leonardo DiCaprio investing in ID Genève, a Swiss luxury watch company that uses recycled and reused parts and materials in its pieces.
Lab-grown going high
Prada is the second luxury brand, after LVMH-owned French maison Fred, to embrace synthetics, The Washington Post says. The Italian house’s jewelry division, headed by a former Cartier executive, has unveiled a new collection set with lab-grown diamonds.
What luxury collectors want
“Watchful young audiences are obsessed with heritage and savoir faire,” argues Fiona Harkin, the foresight editor at The Future Laboratory, in an op-ed for the Luxury Society. This means shifting the narrative for high-end brands.
Instore reports how a jeweler in Mississippi went viral on the social-media platform asking viewers to choose their favorite engagement ring under $2,000.
Jewelry writer Marion Fasel cheekily asks on her blog The Adventurine whether we need another book on Cartier as more books are released about the legendary maison. The answer is likely to be a resounding yes.