All eyes on Las Vegas, with hopes the shows will raise sentiment for 2H. Deep concerns about the market amid sluggish demand and continued polished price slide. 1 ct. RAPI -1.2% in May, with sharper declines in lower qualities. Trade below previous years as jewelers tighten inventory purchases during economic uncertainty. US 1Q polished imports -21% to $5B. Responsible sourcing, sustainability and lab-grown the main themes shaping the market. Christie’s Hong Kong totals $60M, with pear, 4.83 ct., fancy-vivid-blue, IF, type IIb selling for $8.8M ($1.8M/ct.). Industry mourns passing of legendary diamond cutter Gabi Tolkowsky. Rapaport Group launches market for certified natural pearls. Rapaport to host annual Las Vegas breakfast and Social Responsibility Conference on Sunday, June 4. Register at info.rapaport.com/jck23.

Major chains and independent jewelers alike are seeing the need for omni-channel, diversity, and other shake-ups to their traditional business models.

A special Rapaport supplement looks at how retailers can sway young consumers toward natural stones as lab-grown gains traction.                

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