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Podcast: Changes in America’s Diamond Industry

June 30, 2024  |  Rapaport News

New York-based jeweler Jeff Loots came on the Rapaport Diamond Podcast to give an assessment of the US wholesale market and the latest trends. 

The president of diamond brand Henri Daussi described how the increased use of samples in storefronts has enabled retailers to expand their chains. He also highlighted the changes to logistics, with the industry becoming figuratively smaller and some of the traditional trading locations — such as Antwerp, where Loots’s grandfather founded the brand — losing their power. 

Speaking with Rapaport’s Joshua Freedman, Loots also reflected on the recent Luxury show in Las Vegas, where he has exhibited for 14 years. 

The original Henri Daussi established the company in Antwerp. He was a pioneer of the heart shape, which he was able to perfect when the company was still “a couple of diamond cutters in his garage,” Loots said. The company developed a focus on fancy and special cuts, from cushion to pineapple.  

“It’s impossible to compete these days on…rounds or regular goods or anything like that,” said Loots. “So definitely the niche has always been important to us.” 

The episode also looked at diamond sourcing, sanctions on Russia, the impact of synthetics, and the current challenges facing manufacturers and dealers. 

Listen to the full podcast here: 

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Podcast: Changes in America’s Diamond Industry

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