IDEX India Retail, March 2012

March 12
Looking At More Stable

Diamond Prices, Steady
Availability This Year
SPECIAL
REPORT
INDUSTRY
NEWS
Wedding Rings
Replacing The
Mangalsutra
MARKET
REPORT
New De Beers System

Allows Ongoing Client
Changes
Despite Reduced
Demand, Shortages Keep
Diamond Prices Firm
cover_16_2.indd 1
DIAMOND
RETAIL
BENCHMARK
A price list to assure your
customers
12-02-28 3:04 PM
TRADE SHOW FOR JEWELRY AND WATCHES

FEBRUARY 22 25, 2013
MESSE MNCHEN INTERNATIONAL
INHORGENTA.COM
inho13_AnzBesucher_210x270_E.indd 1
Full Page template.indd 102
30.01.12 10:12
31-Jan-12 11:25:19 PM
SPECIAL OFFER FOR GJF MEMBERS

TAKE A 3-YEAR, HIGHLY DISCOUNTED
MEMBERSHIP OF IDEX ONLINE FOR
JUST $1,470 AND GET AN APPLE IPAD2
(16GB, WIFI + 3G) COMPLETELY FREE!
YOU SAVE A HUGE AMOUNT! THE IDEX
MEMBERSHIP NORMALLY COSTS $840
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USE THE IPAD TO SHOW YOUR
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SELECTION OF DIAMONDS AVAILABLE
ON THE IDEX SYSTEM, AT THE MOST
COMPETITIVE PRICES!
Prices
IF
4,50,000 DIAMONDS ON OFFER ONLINE.
THE DI
JUN E
AMON
1st
D RETA 2011
ND RE
TA IL
IL BENC
BE NC
HM AR
HMAR
K FO
K - IN
R PO
LIS HE
DIA
145092
D DIA
SI1
1269 DIAMONDS
POLISHED
are in
Rupee
JUNE 1st 2011
DIA MO
s Per
Car
.22)
VVS1
at
VVS2
204035
THE DIAMOND RETAIL DBENCHMARK
VS1 - INDIA
167762
E
97 15416
DIAMOND RETAIL BENCHMARK 1722
FOR
VS2
MO
Benc hmar
d 1/4
(0.23
-0
Roun
Roun
d 3/8
(0.38
-0.44
)
Round 3/8 (0.38-0.44)
99181
7 4959
80 2358
254495
02 2358
Roun
d 1/2+
(0.50
-0.69
)
Round 1/2+ (0.50-0.69)
80 9918
(0.90
-0.99
diam ond
Round 0.90 (0.90-0.99)
-0.89
)
Roun
d 3/4
(0.70
ond Bour
.28)
Round 1/4 (0.23-0.28)
-0.37
d 1/3
(0.29
Roun
d -1/
2 (0.45
-0.49
)
Roun
Round 1/3 (0.29-0.37)

Round -1/2 (0.45-0.49)
Round 3/4 (0.70-0.89)
55
Roun
Round 1/5 (0.18-0.22)
d 1/5
(0.18-0
SI2
117887
0 1314
ND S
F 1632
SI3
90682
89 11788
28 1496
I1
77080
7 1088
26 1224
I2
68012
19 8614
G 1496
21 1088
I3
58944
26 13148
8 7254
19 9975
45341
6 6801
9 1133
IF VVS
H 1314
1 8161
31739
53 9975
Powered
by 2www.idexonline.com
Prices are in Rupees Per Carat
54409
89 11788
4 6801
1 VVS
D 2371
Powere
1 8614
40807
2 6347
2 VS1
7 1042
69 1950
8 7254
I 1088
27205
85 9068
8 4987I1
d by
06 1686
6 6347SI2
19IF 9521VVS1 VVS2
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IF VVS1 VVS2 VS1 VS2 SI1
SI2
I1
I3
VS1
SI1
SI3
SI3
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5 3627I2
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2 7708VS2
54 1475
8 5894
6 9068
SI1
3 2720
76 17919
0 6801
J
dexonl
72 1370
4 4534
SI2
2 8161147572 137031
5 F
2 5894
5 1528
4 7708195006 168654
89597 79056
68516
105409
52704 36893
D 204035 167762 145092 126955 117887 90682 77080 68012 58944 45341 31739 D8161237169
31 1054
4 6801
1 3627
SI3
ine.co
189735
42 1370
4 5440
0 7254
09 8959
3 2267
K 7254
2 6347
I1
m
1739
31
9
6
1264
4080
24 1423
63478137031 126490 100138
1 G
7 7905
8 544084327 79056
6 6801 179195 152842
I2
63245
E 172297 154160 131489 117887 108819 86148 72546 68012 54409 40807 27205 E 200276
90 1001
7 317347434 31623
173924
58944
02 1264
6 6851
9 4987
2 6347
I3
38 8432
9 2267
L 5894
152842
90 1159
54409
6 5270
5 4080
8 5440
1 H
7 7905
57975
F 163228 149626 122421 108819 99751 81614 68012 63478 49875 36273 27205 F 4189735
49 9486
131761
4987579056 73786
4 3689
54409 173924 142302
7 3173 42163 31623
9126490
152842
49875115949 94868
6 6324
115949
45341
3
9 2267
54409
M 4987
8 7905
137031
45341
5 4743
100138
3627352704 42163
49875 115949 100138
6 7378
126352
121220
84327
40807 73786 68516
4 3162
G 149626 131489 113353 99751 86148 72546 63478 58944 45341 36273 22671 G5 173924
49875 152842 131761
I 1264
84327
31739
49875
6 5797
105409
40807
3
90 1106
45341
N 4080
73786
18136
5 4216
45341
8959
3627
79
4080
7
1054
68516
40807 68516 632453 47434
3 3162
H 131489 117887 104285 90682 77080 68012 58944 54409 40807 31739 22671 H 152842
45341 137031 121220
J 9486
7 7905
7 105409
27205 36893 26352
40807 89597 79056
09 9486
52704
3
31739
36273
6 6851
8 8959
18136
36273
8 7905
IF
42163
6 6324
7 8432
3173
K 8432
6 7378
126490
105409
63245 2720
9 3173
110679 3173
94868 79056
73786
579755 47434
I 108819 95216 90682 81614 68012 63478 54409 49875 40807 31739 D22671 I VVS
26352
22671 36893 26352
1 VVS
5 4743
9 2720
7 7378
6
9
7
270303
6324
1360
2
79056
4 3689
27205
5
6 6851
2 21082
5 5797
73786
2267
3 2635
6 6324
L 6851
1 1813
94868
84327 VS2
57975 2267
42163 36893
89597 VS1
73786 68516
63245
52704
J 81614 77080 72546 63478 58944 54409 49875 45341 36273 31739E 18136 J 2222
49 1922
5 4743
1 2267
63245
2
6 1360
5 5797
6 6324
228256
16 1681
4 3689
SI1
1 1813
57975
2 M21082
5 5270
5 6324
89 156163245 57975 SI2
3 2635
6 1360
42163 31623
52704 47434 47434
K 72546 68012 63478 54409 49875 45341 40807 40807 36273 27205F 18136 K204284327
29 174179056 73786
52704
4 4216
57975
5 5797
75 12013
2
SI3
2 1360
216243
95 15617
47434
3 3689
57975
5 5797
5 1021
2
47434
5 1441 57975 57975
52704
3 2108
5 5270
68516
47434 I136893 I231623 26352N 15811
13602 1982
63245 63245
52704
15 9010
L 22
L 58944 54409 54409 49875 49875 45341 40807 31739 27205 22671
47434
162182
62 11412
G 1982
42163
2
47434
4 4743
1 7808
52704
I3
144162
22
8 9610
31623
47434
4 3689
8 600626352 21082 15811
132148
13602 17419
47434 47434
42163
8 901036893 31623
21082
M 557975
M 49875 49875 45341 40807 40807 36273 31739 27205 22671 18136
42163
3 3162
IF VVS 42163 3689
15016857975 52704
H 1741
7 4204
108121
1 7208
36893
3 2635
3 3689
132148
95 15617
7 D
1 VVS
9010131623 26352
1 540621082 15811
31623
2 1581
3 3162
3099
11412836893 36893
2 VS1
15811
26352
N 40807 45341 36273 31739 31739 27205 22671 22671 18136 13602
84094
138155 52704 42163
83 2622
1 3604
26352
I 144113602 N 5 47434
1
3 2635
96108
66074
93 2265
12013
0 E
62 12614
VS2
21082
2 2635
84094 SI1
48054 I1
102115 VS1 VS2
26 2026
SI2
I1 J I2
I3
IF VVS1 5 VVS2
SI3
SI3
I2 2622I393
15811
2 1201
SI1
2 2108
78088 SI2
36040
232487
81 1669
108121
35 1081
90101
SI2
2 1581
60067
2026
14
7808
F
21
10211
SI3
1
48054 83457 655732503
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D 270303 222249 192216 168189 156175 120135 102115 90101 78088 K60067 42047 D5 9610
8 131147
15811
72081 119224 107302
71 2265
I1
119224
30034
59 1609
84094
96108
8
54061
I2
107302
53 12518
G 226541728 26 196720
72081 125185 107302
90101E 2622938409
4 202681 190759
4204
160953
77496 59612
101341
E 228256 204229 174195 156175 144162 114128 96108 90101 72081L 54061 36040
I3
83457
178836
66074
84094 2324877808
26 1967
5 1073
7 3003
8 7208
78088
149030
65573
02 10134
54061
20 1728
4
1
72081 F 2503717208
1 6607
47690
202641728
119224
4204
75 1549
1 7749
4 6006
36040
196720
149030
77496 H59612
226526
1788366607
119224 101341
95379
F 216243 198222 162182 144162 132148 108121 90101 84094 66074
81 1788
M 48054
72081
7 3003
4 6006
101341
6 5961
91 13114
66074
7 4805
36 1549
66074
4
7 5406
95379
2 4172
66074 G 226526
7 11326
4 4204
17287535767
91 13710
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1 5406
30034
172875
71534 I 53651
196720
154991 131147
113263 95379
89418
G 198222 174195 150168 132148 114128 96108 84094 78088 60067
77496
8
60067
3 9537
N 48054
7 2402
4 6006
149030
8 1192
54061
1 4805
59612
9 8941
54061
7 J
7 5406
137108
24 1073
4 3604
41728
13710835767
8 7153
5406154991
1 4204107302 89418
7 H 202681 178836
30034
65573 53651
83457
H 174195 156175 138155 120135 102115 90101 78088 72081 54061 42047 6006
02 8941
119224
0 2402
1 4805137108 119224
125185
4 5365
7 3604
IF VVS 48054 4204
107302
8 8345
7 K
4 4204
1 3576
0 3003
7 4204 137108 119224
125185 35767 119224 10134
95379
1 VVS
7 6557
7 3604 95379 83457
107302
42047 30034
77496
D 3305
I 144162 126142 120135 108121 90101 84094 72081 66074 54061
I 2172875 149030
7
4 180259612 47690
7 3604
83457
113263
3 5365
0 3003
1 8941
91 2797
VS1
0 L
0 3003
107302
77496
1 3576
8 8345
4 2402
31 2415J 137108 125185
1073
VS2 119224 101341
489418
E 279742047 24027
5961
77496
53651
29806
83457
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47690
J 108121 102115 96108 84094 78088 72081 66074 60067 48054
8941
7
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02
7
7
86 21615
77496
18020
2 4769
101341
SI1
8 8345
4 2402
31 2479
71534
95379
M 8941
SI2
0 3576
7 7153
7 1802
178011
43 2161K 1251856 113263
53651
83457
24027
107302
29806
7
SI3 71534 65573
4 6557
K 96108 90101 84094 72081 66074 60067 54061 54061 F48054
0 59612
8 8345
139865 89418 83457
267036040
56 2034
18020 48054 41728
16 2415
47690
77496
3 5961
I1
7 7749
127150
41 1716
N 7153
86 2097
29806
65573
2 4805
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6 7153
53 1335
107302 101341
95379 83457 1144
77496
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30034 18020
65573 59612
35767
4 6557
L 78088 72081 72081 66074 66074 60067 54061 42047 G36040
L 1907
35 8900
241586
98
59612
4 4172
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4 6557
08 1144
3 5961
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26
5 6993
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8 2980
3 5961
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184368M 894181589
38 12715
3 5086
41728
6
2 5365
77496 71534 1080
65573
23845 2 59612
83457
59612 53651
47690 35767 IF29806
M 66074 66074 60067 54061 54061 48054 42047 36040H 30034
78
216156 24027 18020
VVS
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1652
0 D
0 1080
1 VVS
35767
53651
1 4769
190726
96
8 6357
521078
78 10172
23845
2 VS1
53651
0 3576
165296 N 715341398
65 120759612 59612
5 4450
400340
53651
23845
65573
53651 47690
41728
N 54061 60067 48054 42047 42047 36040 30034 30034I 24027
184368 18020 18020
0 8264
47690
7 2980
146223
93 1017
3 E 29806 23845
VS2
349504
158938
8 6357
41728
6 2384
387631
1271
20 9536
SI1
279603
5 4450SI3
29806
5
SI2
I1
I3 23 12715 IF 50
SI2
I1
SI3J 1462
I2 1462
VVS1
VS1 VS2
I2 04 I3
3495
1144VVS2
3 7629 SI1
SI2
260539
35 9536
3 F
23 1335
23845
324085
0 5721
SI3
0 1144
3495
216057
08
23845
3 8900
8 3814
35 10172349504 279603
K 1335
I1
89005 69933 1271
50860
260539
158865 12709204101674
D 330591 279731 241586 216156 178011 139865 127150 114435
D 521078 400340
171574
324085 69901 266894 2351
50 1080
5 6993216057 171574
5 G
08 1207
0 8900
I2
158865
298667
21 1969
78 9536
3 5721
311376
93
5 8264
I3
127092
93 1588
8 3814146156 120738
L 1144
82648 635751144
44503
63546 254184 2224
95319
E 279731 247943 216156 203441 171653 133508 114435 108078
E 387631 3349504
2859
89005324085 266894
35 9536
8235121
101674
65 1461
63575196993 158865
57 2668
5 H
35 1080
82648
11 1779
3 8900
69901
56 1207
279603
50860
94
78
29 1461
76290 222411 177929
38 9531
82648 63575101744503
146156
63546 235121 1969
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38145133447 114383
F 267016 241586 209798 190726 158938 127150 108078 M
F 3495045324085
76290 298667 254184
20 8900
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56 1334
84 2287
57218
3 8900
93 1588
9 6354
69933
I 2287
5 8264
47 1143
50860
66
5 8264
65 1270
6
63575 196993 158865
66 2097
8 285957
83 8896
31788 120738 108028
127092
57191 203348 1715
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69933 266894 235121
G 241586 209798 184368 165296 139865 120793 101720 N95363
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8 7629G 311376
92 1207
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0 6993 57218 38145
74
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J
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56 1207
6
29 165276255 57191165220
3 120738
3 254184 228766
31788 114383 101674
8 4450
171574 146156
57218 538145
203348
H 216156 190726 165296 146223 127150 114435 95363 89005
IF 69933
146156
82610
38 11438
20 1525
6357 H 279603 6357
5 5721
VVS
K 1525
3 3814
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127092
11 1334
3 1016
8 5086
VVS238145 5 5721
D 6322 63575 150860
11 1461 76255 57191
5 2543
8 209702 190638
114383
74 7625
47 1270
0 3814
146156 127092
114383
165220
108028 95319
I 184368 158938 146223 127150 114435 101720 89005 82648
79 4835
56
VS1 I 2287665721
0
8 5086
108028
139801
92 11438
5 5719
L 1334
5 3178
07 4153
VS2
0 4450
E
95319
120738
1
47 1270 76255 50837
8 2543
3 1016
3 3178
57218 5086020 31788
127092 114383
101674
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165220 152511 133447
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J 146223 133508 127150 108078 95363 89005 82648 4649
114383
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0 M 95319 88965
SI2
8 2543
334736
20 3719
57191
101674
114383
38 11438
9 8896
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0 2543
285145
29 3471
10802869901 50837
95319
5 7625
3 1080
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K 133508 120793 114435 95363 89005 76290 69933 4153
K 152511
20 3781
0 N 88965 82610
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2541139801
33 3099
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28 9531
5 5083
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28 3471
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88965 63546 44482
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41 2851
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51108028
36 303738145 31788
25430
63546
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1 VVS
M 95363 89005 82648 76290 69933 63575 57218
M 114383
223157101674 95319
D 7883
45 2603
69901
6 4448
111579
42 2789
2 VS1
69901
19216
12 6579
63546
I 2789
2
74386
229356
47 254125430 N50 95319
63546
167368 82610 69901
61 5710
47 260331788 25430
57191
63546
44503
88965 82610 3 76255
50837 31773 VS2
N 76290 69933 63575 63575 57218 57218 50860
2045
E 651757191 57191
51 2355
57191
105380
61 4531
61 1859
50 2479
38128
SI1
54
55 2107
J 2107
57191
24 4096
64 1611
52I22293 I3
SI2
11 5214 I2
SI2 60SI3
IF60 1921
I3
VVS1 VVS2
VS169 VS2 6818
SI1 7 FSI2
SI3 6145I1
50837
74 3848
204561 I1
56 2107
SI3
1053
6145
03
63
3177
415881
80 6198
173567
198362
45 3289
60
11 5834
K 1859
3
I1
391053
1487
81 2544
17976674386 D 19216
75 4841142765 86901
8 328981
788312
409674 384845
64210760
657961 571061
453124
D 632279 483507 415320 365730 334736 285145 254151
3 1673
I2
G 5214254495 204837
71 9918
179766179766 117777
360017
95 2048
173567
60 3972
68 1549
I3
173567
03 4779
1
L 1549
316566
37 1427
60 3724
70 1425
68 1549
154970 74386 E1673
53 4096136558 80693
8 H316566 242080
70 198362
651754
3910536198
198630
415881
360017
614511 521403
E 464911 415320 371929 347133 309941 272748 241754
242080
65 8690
31 3413
73 9298
148771 173567 111579
422088
148771
74 3662
70 1363
198630
95 3041
142573
1
M
2 6198
397260
24 3413
74 1301
136558
52 2358
136374 68187 F1363614511
74 1239583475 484160
8 I 304152 235873
73 1363
223157
372431 341395
192423
192163 167368
105380
397260
F 415320 378128 347133 322338 291344 254151 1425
372431130351 80693
95 3165
75 8678
80693
353809
73 1924
130175
76 11777
74 1301
347602
66 2793
3 5578
N 1301
23 1303
335188
1239
75
7 1053366224 341395
322774
23 2234
9 J 279323 223459
75 1239
Discl aime
61988 G 76
521403
409674
186215
229356 204561
185964 161169 1239
105380
316566
G 371929 334736 309941 285145 260350
310359124144 74486
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India Gems
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The
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righ tsce toFor
JUNE 1st 2011
cons umer
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D R A F T J A N U A R Y 1st 2 0 10
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29
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IDEX_India_Adv.indd 104
03-Jan-12 1:03:01 PM
CONTENTS
magazine india retail
MARCH
MARCH 2012
VOL. 1 No. 16
05 FROM THE EDITORS DESK

Coping With Product Change Even As Diamond
Prices Stabilize
06 MUMBAI DIAMOND MARKET
REPORT
Despite Reduced Demand, Shortages Keep Diamond
Prices Firm
10 SPECIAL REPORT
Wedding Rings Replacing The Mangalsutra
21 RETAIL ETC
27 DIAMOND RETAIL BENCHMARK
34 COVER STORY
Looking At More Stable Diamond Prices, Steady
Availability This Year
54 INDUSTRY NEWS
DTCs New System Allows Ongoing Changes In Client
List
08 _w~B
hram ~mOma H$s [anmoQ>

KQ>r hB _mJ Ho$ ~mdOyX, H$_r Zo hrao H$s H$s_V
_O~yV ~ZmB
{deof [anmoQ>
_Jbgy H$m WmZ boVr {ddmh H$s AJyR>r
15
H$Wm
hrao H$s A{YH$ pWa H$s_Vm| Ho$ gmW Bg gmb ~Zr
ahoJr {ZaVa CnbYVm
Editorial Department
EDITOR-IN-CHIEF Vinod Kuriyan
EDITORs Edahn Golan, Danielle Max
IDEX ONLINE REsEARCH Ken Gassman
INTERNATIONAL CORREsPONDENT
Tamar Katzav
ADMINIsTRATION & MARKETING
Managing Director Yaron Barzilay

Marketing Manager Kuldip Bedi
sALEs MANAGERs
Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

PRODUCTION & CIRCULATION Helena Dorsht
ACCOUNT MANAGER Rinat Oz
ART DEPARTMENT
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ISSN 0334-6838
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w w w. i d e x o n l i n e . c o m
4
Table of content.indd 4
IDEX MAGAZINE INDIA RETAIL| NO 16
12-02-28 3:26 PM
Ed ito r
by VINoD KurIyAN
Coping With produCt ChangE EvEn

as diamond priCEs stabilizE
lanning ones jewellery business has been something

of a nightmare for some time now. Gold prices first
shot through the roof and then oscillated wildly. And last
year, diamond prices surged the IDEX polished diamond
price index rose 17 percent (visit www.idexonline.com). Shortterm plans with correspondingly reduced raw material
purchases were the only way to go for many.
The worst part of the price uncertainty is that customers
have no clear idea of the value of the industrys product.
The fluctuations have made many cut back on their jewellery
purchases overall. In fact, in many instances, jewellery
retailers have said that it has only been the obligatory bridal
jewellery purchases that have kept them afloat over most
of last year.
The jewellery retail industry cannot survive on notional
social obligations only. These can change completely all
too soon and custom could evaporate all of a sudden
particularly with a younger generation that doesnt feel the
same obligation to buy gold or jewellery that the older set
have felt. The only guarantee of long-term success for the
industry is to get consumers to highly regard jewellery and
keep their interest to purchase the product.
In order to achieve this, the industry has to first have a fair
semblance of pricing stability in order to let consumers set
a value to its product. Todays uncertain global economic
IDEX MAGAZINE INDIA RETAIL| NO 16: EDITOR
Editor _1.indd 29
outlook has got consumers cutting back on jewellery

buying and has put the brakes on the unbridled rise in
diamond prices that took place last year. Yet because the
Indian diamond processing industry, which drastically
cut production capacity after the 2008 global slowdown,
has been unable to rebuild it to pre-2008 levels, there are
shortages of polished diamonds in the market that have
kept prices relatively firm.
Suddenly, the industry has relative pricing stability for
diamonds and consumers have the necessary time to
mentally set a value to them. Stable-priced diamonds might
be just the thing this year for the jewellery retail industry to
regain some much-needed consumer confidence.
But while diamonds show signs of settling into a relatively
stable slot in terms of price, social changes in the country
are driving some completely unprecedented consumer
preferences. The mangalsutra, hitherto considered an
unshakeable Indian social icon, is suddenly under threat
as younger Indians opt for the more international wedding
band something that both bride and groom can wear to
show as a sign of commitment.
To capture the imagination and wallet - of a changing
society, the jewellery retail industry needs to quickly
leverage the price stability that diamonds are likely to offer
with a rapidly evolving product. idEX
12-02-29 1:25 PM
MU M BAI
DIAMOND MARKET
R E P O RT
DEsPITE REDUcED DEMAND, shORTAgEs

KEEP DIAMOND PRIcEs FIRM
by VINAY PAREKH
espite an increasingly robust US market recovery,

fears about Europe as well as the general economic
uncertainty worldwide have kept diamond demand subdued
for some time now. Added to this is the fact that rough
diamonds from Zimbabwes Marange fields have been
coming onto the market at the rate of almost a million
carats a month. Most diamond dealers have been expecting
polished prices to drop by between 10- and 15 percent.
However, except for a small correction of between 2- and
5 percent since the beginning of the year, diamond prices
have remained largely unchanged.
This is attributed to the fact that the Indian diamond
industry has not yet recovered its pre-2008 production
Market_Report_ENG_1.indd 89
capabilities and there are shortages of polished diamonds

in almost all sizes and categories. With these various factors
all counterbalancing one another, many industry watchers
think that diamond prices will not change much over the
course of the next few months and instead stay within a
narrow range. Prices of fancy shapes, however, show a firm
upward trend.
Given the market uncertainty and the recent imposition
of a 2 percent customs duty on the import of polished
diamonds, it was also apparent that Indian diamond dealers
wouldnt be buying polished diamonds heavily at the
February Hong Kong show.
IDEX
IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT
12-02-28 3:31 PM
MUMBAI DIAMOND TRADING IN FEBRUARY

Size in Carat
(Sieve)
Comments
Forward Call
-0.01 (-2 )
Fair demand for SI & piqu goods.
Overall demand will be very low. Prices will

remain soft. Goods will be available in most of
the clarities.
-0.02 (+2-6.5)
Very good demand for white SI & piqu

goods.
Good demand for Top colors VVS-SI goods.
Fair demand for white VVS-VS goods.
Demand will remain stable.

Prices may remain relatively firm.
0.03-0.07 (+6.5-11)
Fair demand for Top colors VS-SI & white

SI2-piqu goods.
Overall demand & prices will remain soft.

6.5-8 sieve will be the most required sieve.
0.08-0.14 (+11-14)
Good demand for SI2-piqu goods.

Fair demand for VVS-VS/J+ goods.
Demand & prices will remain stable.

Shortages in piqu goods will be seen.
0.15-0.17 (+14-15.5)
Good demand for SI2-piqu goods.

Fair demand for VVS-VS/J+ goods.

Shortages in piqu goods will be seen.
0.18-0.22 (1/5)
Fair demand for SI1+ & piqu goods.
Overall demand will remain low, prices will

be soft.
0.23-0.29 (1/4)
Fair demand for SI1+ & piqu goods.
Overall demand will remain low. Shortages in

piqu goods will be seen.
0.30 (1/3)
Good demand for VS-SI goods.

Fair demand for piqu goods.
Stable demand will be seen with some

pressure on the prices.
0.40 (3/8)
Good demand for VS-SI goods.

Fair demand for piqu goods.
Stable demand will be seen with some

pressure on the prices.
0.50 (1/2)
Good demand for VS-SI/J+ goods.

Fair demand for I1/I2 goods.
0.75 (3/4)
Good demand for +0.90 cts. SI+/F-J col.

Fair demand for I1-I2/J+ goods.
Demand & prices for VS-SI /+0.90 cts.

Will remain firm. Shortages will be seen for
+.90 cts.
1.00 (4/4)
Very good demand for SI & piqu / D-J col.

Good demand for VVS-VS/F-M col.
Overall demand will be stable, prices will be

under pressure. Strong demand for lower
colors will be seen.
+3.00
Fair demand for VS-SI/G-L col.
Overall demand & prices will remain soft.
Market_Report_ENG_1.indd 90
12-02-28 3:31 PM
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ZrMo {Ja|Jr& hmbm{H$ df Ho$ Ama^ _| H$s_V _| 2- VWm 5% Ho$
~rM Ho$ _m_ybr gwYma Ho$ Abmdm hrao H$s H$s_V Hw$b {_bmH$a
An[ad{VV hr ahr&
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df 2008 Ho$ AnZo nhbo dmbr CnmXZ j_Vm na dmng Zht
Market_Report_Hind.indd 89
nhM gH$m h VWm g^r AmH$mam| d dJm] _| nm{bS> hram| H$s H$_r
hr {XImB nS> ahr h& Eogr hr H$B dOhm| Ho$ gmW Omo EH$-Xgao
H$mo g_Vw` H$aVr h, Bg CmoJ Ho$ H$B {deofkm| H$m _mZZm
h {H$ AJbo Hw$N> _hrZm| VH$ hrao H$s H$s_Vm| _| Hw$N> `mXm
n[adVZ Zht hmoJm, ~pH$ `h EH$ gH$ao Xmào _| {Q>H$m ahoJm&
hmbm{H$ \$gr AmH$mam| dmbo hram| H$s H$s_Vm| _| EH$ _O~yV d{
bjU {XImB nS> aho h&
~mOma H$s A{Z{VVm VWm hmb _| nm{bS> hram| Ho$ Am`mV na
2% H$Q>_ ewH$ ~T>mE OmZo Ho$ H$maU `h ^r g^mdZm h {H$
^maVr` hram `mnmar \$adar Ho$ hmJH$mJ emo _| ^mar _mm _|
nm{bS> hrao H$s IarX Zht H$a nmE&
IDEX
12-02-28 3:33 PM
\$adar _mh _| _w~B H$m hram `mnma

AmH$ma H$aQ> _|
(grd)
{Q>nUr
\$madS> H$mb
-0.01(-2 )
SI
Hw$b {_bmH$a _mJ H$m\$s H$_ ahoJr& H$s_V _| Z_u ~Zr

ahoJr& A{YH$Va b[aQ>r _| _mb CnbY ah|Jo&
-0.02 (+2-6.5)
SI
VWm {nH$ _mb H$s H$m\$s AN>r _mJ&

Q>mn H$bg VVS-SI _mb H$s _mJm| H$s AN>r _mJ&
g\o$X VVS-VS _mb H$s AN>r _mJ&
_mJ pWa ~Zr ahoJr& H$s_V AnojmH$V _O~yV ah

gH$Vr h&
0.03-0.07 (+6.5-11)
Q>mn H$bg VS-SI d g\o$X SI2- {nH$ _mb H$s

AN>r _mJ&
Hw$b {_bmH$a _mJ VWm H$s_Vm| _| Z_u ~Zr ahoJr&

6.5-8 grd H$s g~go A{YH$ _mJ ahoJr&
0.08-0.14 (+11-14)
SI2-
{nH$ _mb H$s AN>r _mJ&

_mb H$s AN>r _mJ&
_mJ VWm H$s_V| pWa ~Zr ah|Jr& {nH$ _mbm| _| H$_r

{XImB nS>oJr&
VVS-VS/J+

_mb H$s AN>r _mJ&

{XImB nS>oJr&
0.18-0.22 (1/5)
SI1+
VWm {nH$ _mb H$s AN>r _mJ&
Hw$b {_bmH$a _mJ H$_ ahoJr VWm H$s_Vm| _| Z_u ahoJr&
0.23-0.29 (1/4)
SI1
0.30 (1/3)
VS-SI
_mbm| H$s AN>r _mJ&

H$s_Vm| na WmoS>m-~hV X~md Ho$ gmW _mJ _| pWaVm

{XImB nS>oJr&
0.40 (3/8)
VS-SI
_mb H$s ~ohVa _mJ&

H$s_Vm| na WmoS>m-~hV X~md Ho$ gmW _mJ _| pWaVm

{XImB nS>oJr&
VS-SI/J+
_mJ VWm H$s_V| pWa ah|Jr&
VWm {nH$ _mbm| H$s AN>r _mJ&
VVS-VS/J+
0.15-0.17 (+14-15.5)
0.50 (1/2)
SI2-
VWm {nH$ _mb H$s AN>r _mJ&
I1/I2
0.75 (3/4)
_mb H$s AN>r _mJ&

_mb H$s AN>r _mJ&
+0.90 cts. SI+/F-J col

I1-I2/J+
1.00 (4/4)
+3.00
Market_Report_Hind.indd 90
SI
H$s AN>r _mJ&

_mb H$s AN>r _mJ&
VWm {nH$/D-J col. H$s H$m\$s AN>r _mJ&

H$s ~ohVa _mJ&

{XImB nS>oJr&
VS-SI /+0.90 H$s _mJ VWm H$s_V| _O~yV ~Zr

ah|Jr& +.90 cts. H$s H$_r {XImB nS>oJr&
VVS-VS/F-M col.
Hw$b {_bmH$a _mJ pWa ahoJr, H$s_V na X~md ~Zm

ahoJm& bmoAa H$bg H$s H$m\$s _mJ XoIr OmEJr&
VS-SI/G-L col.
Hw$b {_bmH$a _mJ VWm H$s_V| Za_ ~Zr ah|Jr&
H$s AN>r _mJ&
12-02-28 3:33 PM
Special
RepORT
M eM
O
by VINoD KurIyAN
W e d d i ng R in g S R eplac ing
T h e M an galSu TR a
and one companys flying start in
servicing the new bridal demand
ocial mores in India are rapidly changing and along

with them, many icons of Indian society are being
replaced by more global symbols. The mangalsutra is one
of these icons now being elbowed aside and replaced by
the globally ubiquitous wedding ring.
The way love is expressed has changed considerably in
India, said Colin Shah, managing director of Kama
Schachter, the Rs.500 crore jewellery manufacturing and
distribution joint venture between Kama Jewellery and
De Beers DTC Sightholder Leo Schachter Diamonds.
Today, the bride and groom shop for their wedding
jewellery independently. And what they want, is not what
was traditionally bought for weddings. Practicality is a
prime requirement even in wedding jewellery. Something
that can be worn daily is preferred to the traditional heavy
jewellery that typically can only be worn at very formal and
big occasions like weddings.
10
special report ENG.indd 1
IDEX MAGAZINE INDIA RETAIL| NO 16: SPECIAL REPORT
12-02-28 4:03 PM
the wedding ring has become the new age mangalsutra. a significant proportion of
younger women who do wear a mangalsutra at their weddings, now typically take
them off after all the ceremonies are done.
Shah went on to say, The wedding ring has become the
new age mangalsutra. A significant proportion of younger
women who do wear a mangalsutra at their weddings, now
typically take them off after all the ceremonies are done.
Todays brides and grooms prefer a symbol of marriage
that both partners can wear. The wedding ring fits that
requirement exactly.
Shah was speaking at a function to announce Kama
Schachters move downstream into jewellery retail. Shah
said that the first store would be in the Mumbai suburb
of Andheri, followed by a second at the Bandra Kurla
Complex, where the Bharat Diamond Bourse is located.
Thereafter, he said, the company planned to open one retail
outlet every quarter across the country.
But to help the retailing operation gain traction countrywide
and speed up recognition of the Kama brand, the company
also launched four vertical initiatives alongside the store
openings. These included two differentiated jewellery
brands that would be offered to other retailers, an online
Loveathon on Facebook and an online retail website.
The first brand, Kama Love, bolsters Shahs statement
about the wedding ring in India. As the name might
todays brides and grooms prefer a

symbol of marriage that both partners
can wear. the wedding ring fits that
requirement exactly.
11
12-02-28 4:04 PM
Together to generate a vision that resonates with the young

people in todays relationships.
The second brand, Kama Platinum, features jewellery
made with the precious white metal as the name implies.
But there is a substantial platinum offering in the Kama
Love range and Shah says the bridal market has taken
to the white metal quite enthusiastically. The traditional
craze for gold doesnt have a bearing on demand for the
product, according to him. The concept of the wedding
band in either plain metal or set with diamonds has
developed a clear demand. What metal it is made in is a
matter of specific choice. In the southern markets, we see
a lot more demand for platinum rings and other jewellery,
the northern and eastern markets clearly prefer more gold.
the Kama love brand uses the slogan

you and i Unique together to generate
a vision that resonates with the young
people in todays relationships.
suggest, the entire brand offering is only rings in gold and
platinum, the majority set with diamonds. This brand is
targeted at the couples market and is intended to become
the brand of choice for every milestone in this segment
from engagements through weddings and anniversaries. To
ensure that this goal is reached, Kama offers the retailer
the luxury of holding just a bare minimum selection of
representative product. We will carry the comprehensive
inventory of all our products at our manufacturing facilities.
Whatever the customers choice of design, whatever the
size of the ring, we guarantee delivery of the specific
product to any store carrying the brand anywhere in India
within 72 hours.
According to Shah, platinum jewellery consumption in

India is still miniscule when compared to gold. Where
we import over 800 tons of gold annually, most of it for
consumption in jewellery, platinum is still a tiny one ton.
He added the rider however, but the growth in platinum
jewellery consumption is exponential and we want to be at
the forefront of that growth.
Kama has the production muscle to ensure this. It is already

an established business-to-business jewellery manufacturer
with over a 1,000 employees and a presence in markets
ranging from Japan through Israel, Germany and the
United States. It has the capacity to produce one lakh pieces
of diamond jewellery every month and already supplies a
number of brands in the US and other markets and also
sells its own private label brands like Loves Embrace, One
Love, Shared Promises and Medley of Love. As obvious
from their names, these are all relationship-based brands.
Wedding bands have succeeded under specific brands,
Shah said, adding creating a brand taps the hopes and
aspirations of the new market of younger people. The
Kama Love brand uses the slogan You and I Unique
12
12-02-28 4:04 PM
As another jewellery retailer who was asked to comment,

put it, The consuming market is going through a major
evolution, where the product is no longer a social statement
by the family of the woman, but more a personal statement
by both bride and groom about what their relationship
stands for. We as retailers need to pick up on this. It is a
fundamental change. And given that almost 80 percent by
value of jewellery sales in India are still driven by the bridal
market, even a small change in bridal jewellery preferences
has a huge impact on all our businesses.
A lot of jewellery retailers have obviously picked up on
the changes and are now moving proactively to service
the new demand. Shah stated at the February retail launch
announcement that 50 retailers had snapped up the branded
lines and more were rapidly coming on board. We hope to
have the branded lines in 100 outlets over the course of the
next year, he said.
But Kama isnt only catering to a new demand. According
to Shah, adding something extra to the product gives it that
much of an edge in the market, and he says his firm has
worked specifically at adding that little extra to its product
the way love is expressed has changed

considerably in india. today, the bride
and groom shop for their wedding
jewellery independently. and what they
want, is not what was traditionally
bought for weddings. practicality is a
prime requirement even in wedding
jewellery.
Being primarily a diamond jewellery manufacturer, Kama
Schachters move into branding and retail naturally focuses
on promoting diamond jewellery. With the diamond
universally recognized as a symbol standing for the
relationship between men and women, the idea of jewellery
that symbolizes love and relationships is a great fit for the
company and Shah clearly relishes the idea of a brand
dedicated specifically to relationship milestones.
The Facebook Loveathon initiative, which ran through
Valentines Day and offered prizes like diamond rings to
lucky fans who signed on, further amplified the companys
focus on defining its product line as symbols defining
relationships.
13
12-02-28 4:04 PM
the consuming market is going through a major evolution, where the product is no
longer a social statement by the family of the woman, but more a personal statement
by both bride and groom about what their relationship stands for. we as retailers
need to pick up on this. it is a fundamental change. and given that almost 80 percent
by value of jewellery sales in india are still driven by the bridal market, even a small
change in bridal jewellery preferences has a huge impact on all our businesses.
offering. The platinum range, he says, is made with
computer numeric control (CNC) machines that produce
an unmatched quality. That adds more value in the
customers eyes, he says.
Kama other vertical initiative, its online diamond jewellery
retailing website www.kamajewellery.com, though aimed at
the generic market, holds the potential to amplify sales of
jewellery in the bridal and relationship segments. Retailers
point to the success of global the internet retailer Blue
Nile and note that ever since it appeared online, the bridal
jewellery market in the US was changed beyond anything
retailers could imagine. While bridal jewellery is built around
one of lifes most significant events, it is still subject to the
consumers need to know that the jewellery being bought
is actually value for money. Blue Nile offers consumers the
chance to buy fabulous diamonds and diamond jewellery at
prices completely unmatched by brick and mortar stores.
Love and relationships also come with price tags.
14
Kamas most significant move, however, is that it has

recognized a shift in the hitherto staid and unchanging
Indian bridal market and has been quick off the blocks to
race ahead. While a host of social phenomena are driving
the changes in preference for bridal jewellery, this savvy
player is sure to be at the forefront of the big push as the
wedding ring nudges the millennia-old mangalsutra aside.
ideX
12-02-28 4:05 PM
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_Jbgy H$m WmZ boVr

{ddmh H$s AJyR>r
...Ama ddm{hH$ _mJm| H$s ny{V Ho$ {bE EH$ H$nZr

mam âr OmZo dmbr CS>mZ
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hmoVr h dh {ddmh Ho$ {bE nman[aH$ Am^yfUm| go hQ>H$a hmoVr
IDEX MAGAZINE INDIA RETAIL| NO16: SPECIAL REPORT
special report Hindi.indd 1
15
12-02-29 1:45 PM
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16
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12-02-29 1:46 PM
H$m_m AnZr Bg {V~Vm Ho$ {Zdmh _| gj_ h& `h nhbo

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Vma na Wm{nV H$aZm& Bg b` H$s ny{V Ho$ {bE H$m_m mam
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Ama gmBO Ho$ CnmX H$s Amny{V ^maV â _| pWV {H$gr ^r
Q>moa go 72 KQ>o Ho$ AXa H$s OmEJr&
Colin Shah with a sample range of wedding rings
Xgam ~mS> H$m_m b{Q>Z_ Ogm {H$ Zm_ go n> h \o$X

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17
12-02-29 1:46 PM
emh Ho$ AZwgma ^maV _| b{Q>Z_ Am^yfUm| H$s InV AmO ^r

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g_{nV ~mS> H$s AdYmaUm go emh
nyar Vah gh_V hmoVo h&
18
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12-02-29 1:46 PM
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V` h `m|{H$ {ddmh H$s AJyR>r mam nman[aH$ _Jbgy H$m
WmZ Omo {b`m Om ahm h!
IDEX
19
12-02-29 1:46 PM
R ETAIL
ET
CETERA
SHOW TIME
FROM SILVER TO SPIDERS AND PRECIOUS METALS TO MORE
ACCESSIBLE MATERIALS, IDEX MAGAZINE BRINGS YOU A
TASTE OF SOME OF THE BEAUTIFUL NEW OFFERINGS.
SILVER SPARKLE
JEWELLERY BY GIOVANNI RASPINI
IDEX MAGAZINE INDIA RETAIL | NO 16: RETAIL ET CETERA
Product_Layout_16.indd 41
With his exquisite silver pieces, Giovanni Raspini is

bang on trend for discerning consumers who want highclass design, without shelling out for gold. The Color Rings
collection combines a large colorful zircon surrounded by
silver gurative elements such as sh, daisies, starsh and
miniature butteries.
21
12-02-29 1:29 PM
EYE CATCHERS FROM

UNI-DESIGN
JEWELLERY BY UNI-DESIGN
Fluttering butteries. Each silver earring is set with with 24

channel-set diamonds totaling 0.80 carat.
The power of two. Pear ring with a total diamond weight
of 0.27cts set in 18-karat gold. Standing up is an 18-karat
gold ring with 21 micro-prong-set diamonds weighing 0.43
carat.
A classic cluster combined with frivolous ligree. This

18-karat gold bangle features 89 diamonds weighing a total
of 1 carat in a combination of prong and bezel settings.
22
12-02-29 1:29 PM
BRAVO, BRAVO!
JEWELLERY BY ROBERTO BRAVO
The Gallica collection from Turkish designer Roberto

Bravo takes its inspiration from the beauty of the rose.
The delicate petals of a rosebud never open completely,
remaining as the untouched secret of its supreme beauty.
Gallica is the most precious and rare rose in the world
and almost as beautiful as this necklace!
A JEWEL FOR ALL SEASONS

JEWELLERY BY ROBERTO COIN
The new Fifth Season by Roberto Coin brand is the perfect

collection for women looking for quality jewellery for the
different seasons of their life. A small ruby is hidden inside
each piece created by Roberto Coin. Legend has it that this
gem has the power to promote a long, healthy and happy
life. Excellent design and a long life, who could ask for
anything more?
23
12-02-29 1:29 PM
ENERGY AND PURITY

JEWELLERY BY PONTE VECCHIO GIOIELLI
The Vega range from Ponte Vecchio Gioielli features

diamonds that are free to move within a mesh of platinum,
evoking the light of the brightest star, emitting a powerful
energy. The combination of energy and purity is the
cornerstone of the Vega range. The pieces are made of
white, pink and yellow gold with gemstones including
sapphires, tsavorites, rubies and, of course, diamonds.
MADE IN ITALY
JEWELLERY BY ROBERTO GIANNOTTI
Roberto Giannotti is synonymous with Made in Italy,

and constantly expresses a particular sensitivity to the
quality and performance of modern materials. These owlthemed pieces are sure to cause a hoot wherever they
are worn.
ALL IN THE FAMILY

JEWELLERY BY PIPPO PEREZ
Italian designer Pippo Perez has generations of creativity

running through his veins, as these pieces attest. His family
has roots in the goldsmith trade reaching back all the way
to the 15th century! Given the current demand for more
accessible materials, Perez has swapped gold for cord with
these diamond and gemstone bracelets.
24
12-02-29 1:29 PM
SUPERORO
JEWELLERY BY SUPERORO
Created in 1983 by Rino Rigon and Roberto Matteazzi,

Vicenza-based Superoro is characterized by thoughtful
design and the continuous use of new shapes. With true
Italian style, the company works with yellow, white and
pink gold to create its stunning signature pieces.
SHES THE ONE

JEWELLERY BY MATTIOLI
With One, a line of rings that feature everything the

word jewel brings to mind, Mattioli utilizes colored
and smooth bomb gems that emerge from a cluster of
luminous stones. The gem is embraced by a crown of white
or black diamonds, topazes, sapphires or other sparkling
stones.
25
12-02-29 1:29 PM
03-Sep-11 8:45:48 PM
ABOUT THE IDEX ONLINE DIAMOND RETAIL BENCHMARK

For the first time ever, Indian diamond jewellery retailers
have a retail benchmark for diamond prices, enabling
them to assure their consumers about the retail prices
being charged for diamonds. The endorsement of the All
India Gems & Jewellery Trade Federation (GJF) makes
the benchmark prices accepted countrywide, giving the
consumer further confidence to buy diamonds.
The Diamond Retail Benchmark (DRB) is derived from upto-date market data using an objective and fully transparent
system. Standard retail mark-ups across the country have
been factored in to ensure that the norms of every geographic
market in the country are accounted for.
The diamond category is one of the few retail sectors that
up to now has not had a credible retail price benchmark
for consumers. For consumers, many of them firsttime diamond buyers, the purchase of a diamond may
sometimes prove to be a confusing experience. As a
luxury product that is bought to celebrate major life

events and which will accompany them everywhere,
confidence is essential. Consumers should be able to
buy a diamond with the confidence of knowing they
paid a fair price.
The DRB presents a retail price benchmark for a diamond
based on each of the 4Cs Cut, Carat, Colour and Clarity.
The DRB should be used as background information
only. Actual prices are determined by the sellers.
Your input will only make the system better. We urge
you to contact us at anytime with your comments,
suggestions and questions.
IDEX Online
Call us at (022) 6633 2187
Fax us at (022) 6633 2186
Email us at mumbai@idexonline.com
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27
12-02-28 4:37 PM
09-Feb-12 2:26:45 PM
MARCH 1st 2012
THE DIAMOND RETAIL BENCHMARK - INDIA

DIAMOND RE TAIL BENCHMARK FOR POLISHED DIAMONDS
Powered by www.idexonline.com

IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
IF
I3
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 255553 206716 199203 149180 145324 137613 110624 87145 71327 59415 47552 D 267762 227378 212500 178640 167370 140826 133115 98415 86849 67373 55460
F 164602 160746 156891 133758 126047 95103 91149 71327 63419 51506 43597 F 208743 189910 182397 167370 152343 129259 113837 82993 79137 59415 47552
G 149180 145324 141469 126047 122191 91149 87145 67373 63419 51506 43597 G 193667 186153 178640 163613 140826 125404 106126 79137 75282 59415 47552
H 145324 141469 137613 122191 118335 87145 83191 63419 59415 47552 39643 H 174883 167370 163613 159857 133115 121548 94560 75282 71327 55460 43597
I
141469 137613 126047 114480 110624 83191 75282 59415 55460 47552 39643
159857 156100 148537 133115 113837 106126 90704 71327 63419 55460 43597
J 133758 114480 106769 87145 79236 67373 63419 55460 51506 43597 35639
J 156100 144682 113837 94560 90704 82993 75282 67373 59415 51506 39643
99058 91149 79236 71327 63419 59415 55460 51506 47552 39643 31685
K 117693 106126 94560 79137 75282 71327 67373 59415 55460 47552 35639
79236 75282 71327 67373 59415 55460 51506 47552 39643 31685 27730
94560 86849 79137 71327 67373 63419 59415 55460 47552 39643 31685
Round 0.23-0.29
Round 0.18-0.22
E 176169 168457 164602 137613 129902 106769 99058 79236 63419 51506 43597 E 212500 193667 186153 174883 156100 133115 121548 86849 82993 63419 47552
M 75282 71327 67373 63419 55460 51506 47552 43597 35639 27730 19821 M 86849 82993 75282 67373 63419 59415 55460 51506 39643 31685 23776
N
67373 63419 59415 55460 51506 47552 43597 39643 31685 27730 19821
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
79137 75282 67373 63419 59415 51506 47552 43597 39643 31685 23776
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 303055 253378 217393 195397 177009 147153 135883 124613 109487 86354 63221 D 337656 289017 261139 240032 200834 168210 153530 149872 127579 97525 70685
F 231827 210078 184374 169693 154666 132126 120856 117100 109487 67077 51506 F 268158 232964 218777 197226 175575 153530 135092 131336 116309 70685 62974
G 206370 188032 180667 165937 147153 128370 117100 113343 101776 67077 51506 G 240032 215218 204442 190058 171868 149872 127579 123822 105039 70685 59118
H 180667 173351 165937 162180 143396 124613 109487 105632 90210 67077 51506 H 218777 211610 193667 179233 168210 146214 123822 112552 101282 70685 59118
I
162180 158423 154666 139640 124613 120856 105632 97921 86354 63221 47552
208001 179233 171868 157187 149872 142507 120065 108795 93769 66829 59118
J 158423 147153 132126 120856 113343 105632 101776 90210 74788 55460 43597 J 171868 164552 153530 142507 131336 120065 112552 101282 86107 59118 47552
K 132126 128370 117100 109487 101776 94065 86354 82499 70932 51506 39643 K 160895 146214 142507 131336 123822 112552 97525 89963 74540 55263 43597
L 117100 109487 105632 101776 97921 90210 74788 67077 59365 47552 35639 L 146214 138849 135092 127579 116309 105039 89963 74540 62974 47552 39643
Round 0.40-0.44
Round 0.30-0.39
E 256987 228268 202712 180667 162180 139640 124613 120856 109487 78643 59365 E 285508 261139 240032 218777 186450 157187 138849 135092 116309 78643 66829
M 101776 97921 94065 90210 86354 82499 67077 55460 47552 35639 27730 M 138849 123822 116309 112552 105039 93769 74540 59118 51407 39643 31685
N
97921 94065 90210 86354 82499 59365 51506 47552 39643 31685 23776 N 116309 112552 108795 105039 101282 86107 70685 55263 51407 39643 31685
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 444573 352584 335432 290550 213834 192530 188971 181754 152838 119719 82103 D 624548 481399 418474 371565 334394 276413 228119 221150 175872 168803 114875
F 325151 294059 248880 206766 188971 160153 141815 134450 119719 74392 66681 F 405079 374927 354710 327573 286694 231580 196830 189910 158225 118533 88974
G 280120 259310 234941 196138 185363 156495 134450 127134 108449 70685 62826 G 391683 347938 327573 300436 255800 210770 179381 175872 151058 107510 81461
H 262770 238450 213834 181754 170978 152838 130792 119719 101282 70685 59118 H 354710 327573 300436 262671 231580 196830 175872 172313 143891 103852 77704
I
259310 203256 188971 167419 160153 145472 127134 115963 93769 66829 59118
303846 283234 255800 231580 214230 172313 161784 158225 136674 92731 73947
J 196138 188971 178195 152838 138157 130792 119719 112206 86107 62826 51259 J 242009 228119 221150 200340 179381 161784 154666 151058 125849 88974 70191
K 170978 163811 152838 145472 134450 127134 115963 108449 74540 58970 47403 K 207260 193370 186401 158225 151058 147450 140282 136674 122191 81461 62578
L 149130 145472 141815 138157 130792 123476 97130 93373 70537 51259 43548 L 193370 172313 158225 151058 143891 136674 129507 125849 114875 66434 51012
Round 0.50-0.69
Round 0.45-0.49
E 345763 318280 259310 231431 199747 167419 163811 160153 134450 85860 74392 E 468201 408440 384961 344527 300436 252390 207260 196830 161784 143891 96487
M 145472 134450 123476 119719 112206 108449 93373 78248 62826 51259 39643 M 168803 158225 147450 143891 140282 129507 118533 114875 107510 66434 51012
N 130792 127134 115963 112206 108449 93373 89617 74392 62826 51259 39643 N 165294 154666 143891 136674 133115 122191 114875 96487 81461 62578 51012
IF
SI2
I1
I3
IF
SI2
I1
I3
VVS1 VVS2 VS1 VS2
SI1
SI3
I2
VVS1 VVS2 VS1 VS2
SI1
SI3
I2
D 779313 571213 519608 480855 441954 379820 323371 296531 238945 169990 114875 D 897204 682134 586339 531817 490000 402756 347295 310964 254169 179134 114875
F 513182 477642 428954 419216 369885 340078 276314 252538 208051 169990 110081 F 602354 554308 473885 460935 422182 363706 297717 270926 216849 169990 112948
G 458216 428954 412642 366573 336717 303253 262720 249177 201180 156051 106472 G 512540 480311 441558 402756 373493 320900 270926 257481 203157 158324 109389
H 448478 399493 366573 336717 309976 279675 238945 225203 190800 149130 99206 H 460935 451246 409231 380018 337459 301029 254169 237215 196287 149130 99206
I
356637 336717 330094 299892 283086 242355 208051 194309 173450 113640 80867
396231 373493 363706 327523 310964 260842 227032 220211 186005 113640 80867
J 272903 266131 262720 235485 225203 211462 183880 180420 156051 99206 77160 J 310964 294356 291044 257481 243986 223621 210028 206568 161834 102172 80423
K 225203 221792 208051 187340 180420 169990 156051 145571 135043 81461 62578 K 257481 247348 240576 210028 196287 172264 165294 161834 135043 84080 65692
L 208051 190800 187340 166480 159560 152590 138552 135043 114875 73404 62134 L 243986 206568 203157 189416 168754 158324 147944 140974 114875 73404 62134
Round 0.80-0.89
Round 0.70-0.79
E 632309 500232 464691 438691 406067 346702 299892 262720 214922 169990 110081 E 694887 599141 515753 486787 451246 370231 324211 280960 227032 169990 112948
M 201180 187340 173450 156051 152590 149130 124415 120856 107510 73404 62134 M 233804 196287 192876 186005 165294 154864 140974 137514 107510 73404 62134
N 176910 173450 163020 152590 149130 145571 120856 106472 88183 65890 54620 N 206568 186005 179134 168754 161834 151404 134005 116457 91396 65890 61886
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transaction;
source of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by The All
This India
price
reflectsTrade
suggested
retail
prices
for polished
diamonds.
may,
and
should, insell
at Israel,
discounts
compared
to this
For more
Gemslist
and Jewellery
Federation (GJF),
a trade
body headquartered
in Mumbai,
and IDEX, Diamonds
a diamond research
house
headquartered
Tel Aviv
with a view
of unbiased service
to thelist.
consumer
education on prices and discounts please visit www.diamondSRP.com. Copyright 2009 by WFDB and IDEX Online S.A. All rights reserved.
MARCH 1st 2012
D R A F T J A N U A R Y 1st 2 0 10
DRB_16.indd 28
29
12-02-28 4:38 PM
MARCH 1st 2012


IF
VVS1
VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 1192202 1013364 820093 675016 560487 502901 419216 373987 295690 201872 126145 D 1856492 1316617 1200655 967444 819203 599833 504631 459897 350656 253180 145522
F 863938 731959 655986 534882 515703 451444 380413 328512 289017 174537 112948 F 1139460 930569 794291 763150 637696 536464 447094 415064 331280 213290 131830
G 769823 649658 554110 483623 457870 412741 354512 308839 255800 174537 112157 G 881189 800519 750644 637696 587179 504631 415064 395786 324854 199895 117940
H 560487 541308 509277 464296 432117 373987 341512 302264 222188 160796 105138 H 731910 700571 631419 574525 530087 466323 408638 363607 305428 193222 110970
528506 464296 425691 406265 386889 328512 302264 262523 195100 119176 90852 I
599833 587179 530087 491878 479125 421490 370033 350656 292428 179629 110970
J 457870 412741 386889 348037 315363 289017 269146 249078 167667 112157 83685 J
491878 485501 466323 434341 415064 370033 344231 305428 246557 159263 104050
K 282394 275770 269146 262523 255800 242405 215416 208644 140035 105138 76419 K
440718 427916 402212 376508 363607 318379 285953 266329 220013 117940 104050
L 249078 242405 235682 228960 222188 208644 195100 181408 119176 90852 76419 L
363607 350656 331280 324854 298903 285953 259755 246557 206617 117940 97031
Round 1.00-1.24
Round 0.90-0.99
E 907733 857709 744564 592369 528506 477148 406265 348037 295690 195100 119176 E 1298328 1163928 949007 825382 713127 555494 472699 421490 344231 226686 131830
M 235682 228960 222188 215416 201872 188279 153925 140035 119176 90852 76419 M 318379 311903 285953 272854 253180 233310 213290 206617 199895 117940 90012
N 228960 188279 181408 174537 167667 153925 146955 133066 105138 83685 69054 N 311903 298903 266329 259755 206617 199895 193222 166085 138701 110970 90012
IF
SI2
I1
I3
IF
SI2
I1
I3
VVS1 VVS2 VS1 VS2
SI1
SI3
I2
VVS1 VVS2 VS1 VS2
SI1
SI3
I2
D 1955253 1426056 1226062 1000661 847477 656084 537205 486737 391387 256344 145522 D 2283369 1681510 1507961 1279940 1050388 801063 629343 549167 443140 278241 155161
F 1165213 1012870 847477 798245 674720 568643 480410 436022 353029 217294 131830 F 1400105 1237727 1104909 995817 862010 727610 567753 493213 386493 239686 131830
G
896561 835169 798245 674720 612438 543483 448726 410516 346603 204146 117940 G 1074608 1007977 928987 868139 770465 666267 518125 474479 367463 204146 117940
748963 718119 637400 599932 549760 499342 429646 404140 333751 204146 110970 H
892459 831561 782675 733739 684704 617035 493213 436862 361136 204146 114974
637400 599932 543483 511996 480410 429646 385010 372208 320900 184226 110970 I
745998 721480 696963 647830 586240 530582 436862 424307 354809 184226 110970
518274 486737 480410 455053 423269 372208 346603 333751 288671 159263 104050 J
623213 598597 573932 536760 499441 443140 399098 361136 297470 159263 108202
448726 429646 416893 385010 378584 327325 295147 269295 220013 117940 104050 K
505669 486984 480756 455745 424307 373839 322976 284667 220359 117940 108202
391387 365831 340177 327325 320900 288671 269295 262819 210720 117940 102814 L
424307 399098 386493 354809 348482 310272 284667 265439 210720 117940 102814
Round 1.50-1.99
Round 1.25-1.49
E 1389774 1238172 994532 859736 761321 587426 499342 455053 378584 243393 131830 E 1627730 1460063 1249788 1110939 977577 745998 598597 524353 411702 265439 148537
M 359406 346603 295147 288671 269295 249869 236869 223819 210720 117940 102814 M 392771 361136 329352 310272 271865 259013 246161 226785 210720 117940 102814
N
340177 327325 288671 282196 210720 204146 197522 190899 164157 116605 95845 N
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
354809 348482 322976 297470 252587 239686 233260 207408 181458 116605
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
95845
I3
D 3627223 2566356 2265031 1998850 1435348 1095072 818709 612537 496425 304538 158127 D 6864196 4718538 4079903 3340578 2664722 1704000 1129723 669974 555445 330044 167864
F 2069832 1927819 1684920 1488930 1244549 939219 727956 582038 410368 254070 132225 F 3933293 3322932 2723544 2382328 2034638 1331298 1040551 645951 519114 293120 148735
G 1655262 1477067 1298279 1172826 1089091 836850 697655 575958 398010 204146 117940 G 2988093 2476492 2370564 2022824 1692137 1195020 867595 633890 476604 268355 142309
H 1298279 1190769 1125027 1035212 897105 800618 667305 563749 398010 204146 114974 H 2140764 1993314 1845766 1627137 1343161 992900 813816 627860 470524 262177 135933
I
1029182 981235 939219 818709 764336 673385 612537 514863 398010 184226 110970 I
1627137 1526596 1414192 1307621 1082171 855683 735963 579616 403547 237215 135933
818709 758256 721925 679415 618616 563749 514863 434984 310816 159263 108202 J
1295758 1200951 1135704 1040551 951181 724001 633890 494844 397417 212154 135933
679415 673385 667305 600327 557669 508684 441163 391832 241367 119176 108202 K
998881 975056 963094 879557 813816 651982 543335 440125 366869 161488 123081
551540 520943 496425 465779 434984 385653 360790 323371 228614 117940 102814 L
706009 682035 676005 669974 621829 476604 409626 372999 311607 161488 123081
Round 3.00-3.99
Round 2.00-2.99
E 2477778 2276845 1951496 1696784 1274404 1035212 764336 600327 478038 291983 151651 E 4314349 3945008 3446260 2770552 2264537 1437869 1123791 663993 537304 317736 155111
M 502555 478038 453471 428855 385653 335877 291983 266724 210720 117940 102814 M 597708 591677 585647 573586 494844 409626 360740 299299 249720 161488 123081
N
447292 434984 422676 410368 348383 329599 273051 222287 203108 116605 95845 N
IF
VVS1
VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
494844 470524 434045 421836 348432 336173 293120 268355 218431 155111 116605
IF
VVS1
VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 8459846 6750853 5040871 3760387 2875393 1841119 1262887 723210 603689 350409 184522 D 10161473 7513409 5559442 4112131 3036238 1992276 1486558 777732 635077 359504 188773
F 5899273 3625740 3121752 2916469 2417424 1487398 1186023 681442 549810 295542 148735 F 5899273 4678599 4655219 3720646 2866396 1980561 1368717 718366 587377 304934 157781
G 4497389 2916469 2646482 2446785 1941215 1304309 1026216 675461 501715 277154 142309 G 4497389 2995260 2989378 2954233 2631999 1816009 1362835 712435 581445 286694 145275
H 3432419 2199932 2105866 1923568 1629015 1215632 878025 645605 483673 271025 140431 H 3432419 2602687 2467793 2379807 2127418 1392295 1174012 646989 521684 280614 145275
I
2617121 1575927 1540486 1493280 1268819 990676 824542 579764 435379 258766 140431 I
2617121 2209620 2121536 1921789 1763069 1250777 1008570 581445 467806 268454 145275
2000037 1363378 1203769 1120974 1038079 818561 735172 495684 399048 240279 135933 J
2000037 1768951 1733658 1404109 1362835 1049943 866557 503741 413779 244036 135933
K 1257005 1150533 1049893 949254 872093 699385 621681 441410 366869 178245 134104 K 1527782 1333325 1315678 1120875 1008570 771800 694590 449813 377645 194902 134104
L 1044011 943322 806648 741104 681442 555791 459551 380809 313881 178245 134104 L 1168130 1002638 878421 854694 736210 694590 563502 401718 323173 188773 134104
Round 5.00-5.99
Round 4.00-4.99
E 7433283 5262911 3695980 3309388 2757996 1558231 1215632 705317 561772 317736 155111 E 7735054 5991064 4812851 4012826 2965948 1986394 1374599 724298 599339 329253 157781
M 836405 717279 615700 573734 537798 483673 399048 344329 283283 178245 127727 M 890234 759937 688659 652970 611251 545608 443832 365535 292774 188773 127727
N
627662 567753 507745 435379 362618 344329 319960 301622 246458 171967 127727 N
682727 646989 587377 497760 407748 377645 353474 317093 262325 182594 127727
India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consumer
30
DRB_16.indd 29
MARCH 1st 2012
12-02-28 4:38 PM
MARCH 1st 2012


IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 156891 141469 137613 118335 102913 91149 71327 55460 47552 39643 31685 D 167370 152343 148537 133115 121548 98415 90704 67373 63419 47552 39643
F
99058 83191 79236 75282 71327 59415 55460 43597 43597 35639 27730 F 136971 133115 129259 125404 113837 90704 82993 55460 55460 39643 31685
87145 79236 75282 71327 67373 55460 47552 39643 39643 31685 27730 G 133115 121548 117693 109982 106126 86849 75282 51506 51506 39643 31685
83191 75282 71327 67373 59415 47552 43597 35639 35639 27730 23776 H 121548 113837 109982 102271 98415 82993 67373 47552 47552 39643 27730
79236 71327 67373 63419 55460 43597 39643 31685 31685 27730 23776
I 109982 106126 102271 90704 71327 67373 63419 43597 43597 35639 27730
75282 67373 59415 47552 43597 35639 31685 27730 27730 23776 19821
J 102271 90704 79137 63419 59415 55460 51506 39643 39643 31685 27730
55460 47552 43597 39643 35639 31685 27730 23776 23776 23776 19821 K
79137 71327 63419 59415 51506 47552 43597 35639 35639 31685 23776
43597 39643 35639 31685 27730 23776 19821 15867 15867 15867 15867 L
63419 59415 55460 47552 43597 39643 35639 31685 31685 27730 19821
Fancy 0.23-0.29
Fancy 0.18-0.22
E 118335 114480 106769 95103 87145 63419 59415 47552 43597 35639 27730 E 159857 148537 144682 129259 117693 94560 86849 59415 59415 43597 31685
M 39643 35639 31685 27730 23776 19821 15867 11863 11863 11863 11863 M 55460 51506 47552 43597 39643 35639 31685 27730 27730 19821 15867
N
35639 31685 27730 23776 19821 15867 11863
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
7909
7909
7909
7909
SI3
I1
I2
I3
51506 47552 43597 39643 35639 31685 27730 23776 23776 19821 11863
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 217393 195397 180667 165937 147153 124613 109487 90210 78643 63221 43597 D 268158 222386 193667 190058 164552 131336 112552 97525 93769 66829 55263
F 169693 158423 150910 139640 128370 109487 90210 78643 70932 51506 35639 F 193667 171868 153530 149872 142507 112552 101282 89963 78396 62974 47552
G 139640 135883 128370 124613 120856 101776 86354 74788 67077 43597 31685 G 182891 157187 138849 135092 131336 108795 97525 78396 70685 55263 39643
H 132126 120856 117100 113343 109487 97921 82499 67077 59365 43597 31685 H 160895 142507 127579 120065 112552 101282 89963 74540 66829 51407 39643
I
124613 109487 105632 101776 97921 82499 74788 59365 55460 39643 31685
I 149872 135092 116309 112552 105039 97525 82252 66829 62974 51407 39643
J 105632 94065 82499 74788 67077 63221 59365 55460 47552 35639 27730 J 116309 97525 93769 89963 86107 82252 74540 62974 55263 43597 31685
K
82499 74788 70932 67077 63221 51506 47552 43597 35639 31685 23776 K 101282 93769 89963 86107 82252 78396 66829 55263 47552 35639 27730
67077 63221 59365 55460 51506 43597 39643 35639 35639 27730 23776 L
89963 86107 82252 74540 66829 62974 59118 47552 39643 31685 23776
Fancy 0.40-0.44
Fancy 0.30-0.39
E 206370 177009 162180 150910 139640 113343 94065 82499 78643 55460 39643 E 208001 197226 164552 157187 149872 123822 105039 93769 86107 62974 51407
M 59365 55460 51506 47552 43597 39643 35639 31685 27730 23776 15867 M 86107 78396 74540 70685 62974 59118 47552 35639 31685 23776 19821
N 55460 51506 47552 43597 39643 35639 31685 27730 27730 23776 11863 N 74540 70685 66829 62974 59118 51407 43597 31685 31685 23776 19821
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 311409 231431 203256 192530 170978 152838 127134 119719 104693 85860 62826 D 391683 279823 242009 217690 207260 172313 158225 154666 143891 107510 70191
F 210275 188971 167419 163811 152838 119719 108449 100887 85860 62974 51259 F 248929 214230 196830 186401 175872 158225 140282 133115 122191 81461 51259
G 199747 167419 156495 152838 138157 112206 104693 85860 82103 55263 47403 G 221150 193370 179381 172313 161784 151058 136674 129507 114875 77704 51012
H 174587 163811 138157 134450 119719 104693 93373 78248 74392 55114 43548 H 200340 182891 172313 161784 158225 147450 133115 122191 111168 73947 51012
I
163811 149130 119719 115963 108449 100887 89617 74392 62974 51407 43548
179381 158225 147450 143891 140282 129507 118533 107510 92731 70191 47156
J 127134 119719 104693 100887 97130 93373 82103 70537 58970 43597 35639 J 151058 136674 133115 129507 125849 118533 107510 92731 85217 54867 43301
K 112206 104693 93373 89617 85860 82103 78248 62826 58970 39643 31685 K 125849 118533 107510 103852 96487 92731 81461 77704 70191 47156 35590
L
97130 93373 85860 78248 74392 70537 62826 58970 43548 35639 27730 L
111168 100195 92731 81461 77704 73947 66434 62578 47156 35639 31685
Fancy 0.50-0.69
Fancy 0.45-0.49
E 224363 203256 178195 174587 163811 145472 119719 108449 89617 70537 58970 E 296975 242009 221150 193370 186401 161784 147450 136674 125849 85217 58970
M 93373 85860 78248 74392 66681 62826 58970 51259 43548 35639 27730 M 107510 96487 81461 77704 70191 66434 62578 58723 43548 35639 27730
N 85860 78248 74392 70537 62826 55114 51259 47403 39643 35639 27730 N 96487 81461 77704 73947 66434 58723 54867 51012 39643 35639 27730
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 503494 392969 309976 303253 286447 232074 204640 201180 190800 135043 91890 D 576749 454459 383280 347295 304341 250758 220211 213439 210028 147944 95004
F 313287 309976 279675 276314 259310 214922 183880 173450 173450 124415 77160 F 405969 337459 310964 307652 270926 243986 186005 182545 179134 126986 80423
G 299892 269492 255949 252538 242355 211462 173450 166480 163020 106472 73404 G 327523 291044 280960 270926 254169 220211 182545 168754 168754 112948 73404
H 272903 238945 232074 221792 218332 190800 166480 156051 145571 95548 62134 H 277599 274287 243986 240576 233804 206568 179134 165294 158324 105780 69400
I 225203 221792 194309 190800 187340 163020 138552 120856 117248 84525 54620 I 247348 237215 216849 206568 203157 179134 161834 140974 134005 91396 61886
J 159560 156051 152590 149130 145571 142062 127974 95548 88183 58377 43301 J 199697 192876 182545 165294 161834 147944 130545 102172 91396 61886 46860
K 138552 135043 131533 127974 124415 117248 110081 91890 70191 50814 35590 K 151404 147944 140974 137514 134005 123476 112948 95004 73058 54373 39198
L 127974 110081 102864 99206 91890 88183 84525 80867 62134 46959 35392 L 134005 116457 109389 105780 98613 91396 87738 84080 65692 50616 35392
Fancy 0.80-0.89
Fancy 0.70-0.79
E 389657 323371 293169 289858 283086 218332 187340 183880 173450 131533 84525 E 454459 353869 324211 310964 284321 247348 199697 196287 186005 140974 87738
M 120856 106472 95548 88183 80867 73404 69647 62134 58377 43103 31536 M 126986 112948 105780 98613 84080 76765 73058 65692 61886 43103 35342
N 106472 95548 91890 84525 77160 65890 62134 54620 43103 35639 27730 N 112948 105780 98613 87738 80423 69400 65692 58130 50616 39198 31487
MARCH 1st 2012
DRB_16.indd 30
31
12-02-28 4:38 PM
MARCH 1st 2012


IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 668689 515703 464296 399839 348037 315363 255800 242405 228960 160796 98020 D 1133331 875010 700571 612487 472699 376508 311903 285953 239933 166085 110970
831610 706849 625092 523711 453520 357132 298903 259755 220013 153925 104050
F 509277 367512 341512 335037 308839 302264 235682 222188 208644 133066 83685 F 731910 637696 523711 498254 440718 350656 292428 253180 208644 138701 90012
G 361037 341512 315363 308839 295690 282394 228960 215416 201872 133066 83685 G 549167 517334 479125 440718 408638 324854 279428 246557 201872 138701 83685
H 308839 275770 269146 262523 255800 242405 222188 201872 188279 119176 76419 H 466323 402212 382934 363607 331280 298903 259755 220013 199895 131830 76419
I
289017 255800 249078 242405 235682 201872 195100 174537 174537 112157 69054 I
389360 344231 337755 318379 292428 253180 233310 206617 179629 117940 75776
J 208644 195100 188279 181408 174537 167667 160796 140035 140035 98020 61689 J 324854 298903 292428 272854 253180 220013 213290 193222 166085 98020 75776
K 181408 174537 167667 160796 153925 146955 140035 133066 119176 76419 61689 K 259755 253180 233310 220013 206617 186450 172857 166085 145522 97031 68559
L 160796 146955 140035 133066 126145 119176 112157 105138 98020 69054 46711 L 206617 199895 193222 186450 179629 166085 152393 145522 117940 97031 68559
Fancy 1.00-1.24
Fancy 0.90-0.99)
E 630628 438592 425691 393364 335037 308839 242405 228960 215416 153925 90852 E
M 153925 140035 126145 119176 105138 98020 90852 83685 76419 61689 46711 M 159263 152393 145522 138701 131830 124860 110970 104050 104050 82944 61244
N 146955 112157 105138 90852 83685 76419 69054 61689 61689 39198 31487 N 152393 145522 138701 131830 124860 110970 104050 82944 75776 68559 61244
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 1207822 933337 718119 649856 499342 423269 359406 320900 288671 197522 116605 D 1615768 1098829 837641 758256 672396 549167 449467 373839 303846 197522 128518
F 779808 668541 530928 524601 474083 397813 340177 307998 249869 157435 90012 F
971547 892459 801063 666267 555346 511897 430585 348482 265439 157435 90012
G 562316 556038 524601 480410 429646 378584 333751 301572 223819 150663 83685 G 782675 733739 610905 555346 518125 468250 399098 342105 259013 150663 83685
H 486737 461380 404140 385010 372208 314474 301572 230393 210720 143891 76419 H 660138 549167 518125 480756 461973 405425 354809 303846 226785 148537 80769
I
410516 372208 365831 333751 314474 295147 256344 223819 197522 117940 75776
499441 474479 455745 424307 386493 367463 303846 271865 200933 128518 75776
J 346603 307998 295147 282196 262819 256344 249869 217294 177553 102814 75776 J
361136 354809 348482 342105 316649 303846 265439 246161 181458 108202 75776
K 275721 256344 249869 236869 230393 204146 197522 184226 170880 102814 68559 K
322976 291044 278241 271865 265439 259013 226785 194458 174933 102814 73799
L 236869 217294 204146 197522 190899 184226 164157 157435 143891 102814 68559 L
278241 233260 207408 200933 194458 187982 181458 168359 143891 102814 73799
Fancy 1.50-1.99
Fancy 1.25-1.49
E 1043418 841299 637400 549760 493064 416893 346603 314474 256344 177553 109735 E 1110939 989737 831561 745998 623213 530582 436862 354809 271865 177553 109735
M 210720 197522 177553 164157 150663 143891 116605 109735 109735 88925 67867 M 226785 220359 200933 181458 168359 161784 148537 141914 128518 94560 73799
N 190899 177553 170880 157435 130297 123427 109735 88925 75776 74936 61244 N 200933 194458 187982 174933 141914 135191 128518 121796 108202 94560 66879
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 2335963 1637468 1441329 1184788 1023201 740115 539281 398010 317093 197522 132225 D 3933293 2558892 2476492 1993314 1609391 1165362 753956 500924 409626 237215 132225
F 1453242 1184788 963242 879063 806648 655145 514863 367018 273051 157435 90012 F 2352868 2087725 1798511 1497037 1443751 915394 657963 476604 342303 193222 90753
G 1101053 1017220 842880 794538 685495 606457 484167 360790 266724 150663 83685 G 1993314 1668510 1585764 1272081 1189088 801853 609818 452285 317736 167864 90753
H
891075
612537 575958 563749 502555 459600 453471 410368 323371 209484 145176 79137 I
691575 661225 642985 600327 527072 434984 354561 266724 148537 80769 H 1384584 1372770 1278013 1040551 891519 688016 579616 379079 299299 148735 84179
825778 819797 813816 801853 718020 627860 500924 360740 255949 145176 84179
478038 441163 434984 404189 373246 367018 323371 273051 190306 119176 75776 J
789891 603787 597708 591677 567506 482684 421836 336173 237215 135933 77605
379425 373246 367018 360790 354561 342105 310816 247694 183880 112602 73799 K
531224 507004 494844 476604 446205 391337 336173 274584 199549 123081 73799
317093
310816 291983 273051 260397 241367 234990 203108 151651 105978 73799 L
360740 354611 348432 342303 336173 293120 243492 218431 155111 116605 73799
Fancy 3.00-3.99
Fancy 2.00-2.99
E 2004733 1399610 1142970 1077129 879063 685495 520943 391832 291983 177553 109735 E 3581253 2246890 2064098 1828020 1538459 1094084 676005 488764 397417 224709 110179
M 291983 285656 266724 247694 234990 177454 170978 164552 128518 99354 73799 M 317736 305428 299299 286941 280762 243492 205827 167864 142309 99354 73799
N
266724 260397 241367 222287 183880 170978 151651 132225 119176
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
94560 66879 N
I2
I3
274584 262177 249720 230986 193222 186895 174241 161488 129507 94560 66879
IF
VVS1
VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 4234273 3561283 3156946 2887107 2323408 1327937 937391 549810 441410 252587 140431 D 6475182 5384459 4293243 3586097 3106478 1980561 1474793 771800 629145 359504 188773
F 2523154 2241107 2111748 1988272 1964744 1150533 717279 483673 380809 209435 95696 F 4182272 3434050 3270338 2913256 2491272 1504254 955334 503741 413779 213389 107411
G 2011801 1911755 1617201 1611319 1569996 1138719 687423 471612 356489 190750 90753 G 3211813 2473675 2438481 2280008 1745423 1327443 907980 473787 389706 194902 101035
H 1493280 1487398 1481516 1475584 1286564 961067 681442 405079 326040 171967 89271 H 2350446 2121536 1945318 1892428 1610182 1185826 825086 419809 335284 182594 94658
I
978862 972931 966999 961067 937391 812629 597708 386889 295542 153085 84179
1674886 1480676 1286169 1280237 1250777 1067688 742142 401718 298903 170187 94658
866112 836405 818561 776891 758998 657518 471612 350409 246458 135933 82795
1327443 1215335 990824 984893 961265 842880 658902 383676 256245 164009 88233
549810 543779 537798 531768 525787 519756 411159 295542 199549 127727 76320
990824 842880 759937 754005 700522 557521 461824 304934 201081 132720 88233
453471 435379 429300 423269 417189 374729 326040 221792 155111 127727 76320
730279 605270 509722 497760 449813 425790 341364 231777 157781 132720 88233
Fancy 5.00-5.99
Fancy 4.00-4.99
E 4012035 2775643 2623003 2164688 1994154 1209700 866112 507745 411159 227971 114974 E 5326132 4526799 3673835 3129858 2860514 1763069 1014452 521684 425790 237907 145275
M 368698 356489 350409 344329 332170 313881 252587 171967 153085 127727 76320 M 545608 449813 401718 377645 341364 317093 262325 182594 157781 132720 81807
N
277154 264895 252587 240279 221792 215614 196979 165689 153085 121351 69845
407748 377645 341364 292774 237907 219519 201081 170187 153085 121351 75381
32
DRB_16.indd 31
MARCH 1st 2012
12-02-28 4:38 PM
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Looking At More
Stable Diamond
Prices, Steady
Availability This
Year
34
cover story Eng_2.indd 2
BY VINOD KURIYAN
IDEX MAGAZINE INDIA RETAIL| NO 16 COVER STORY
12-02-29 2:30 PM
It appears that this year is going to be

one that is characterised by relatively
stable levels of diamond production
along with prices that will be more or
less the same through the year. This, say
industry analysts, is a great opportunity
for the jewellery retail industry that now
has an opportunity to actually plan its
business based on a relatively stable
diamond prices and availability as against
high, and wildly oscillating gold prices.
In the Indian consuming market, these huge price

oscillations have made even the die-hard gold enthusiast
now look askance at the yellow metal as a means of
investment. So much so that diamonds have made
very firm inroads into the bridal market, once the sole
preserve of gold. The inroads made by diamonds into the
bridal market were highlighted when last year, diamond
giant De Beers launched its proprietary Forevermark
branded diamonds in India. CEO Stephen Lussier told
IDEX Online, The Indian bridal market will always
be very important to us we see ourselves playing
an important role growing the diamond engagement
ring category and also ensuring that we enjoy a larger
share within the more traditional bridal purchases. We
are seeing an increasing preference for diamonds from
35
12-02-29 2:31 PM
Two major factors have impacted diamond prices. To begin

with, there is still a great deal of economic uncertainty
in the world and consumers are right now not willing to
pay higher prices for diamonds, their increasing scarcity
notwithstanding. There are also a whole range of other
luxury products and services that are available to them.
modern brides which we believe will work in our favour.
While we are a global brand, we are looking forward
to working with India specific gifting moments such as
Diwali, Karva Chauth and weddings to help build the
brand.
Forevermark infused the high fashion pull of such names
as Tarun Tailiani and Rohit Bal already big names in
the bridal market into the bridal jewellery segment by
working with them to develop bridal jewellery sets. Indian
bridal jewellery is spectacular and was thus seen as the
best platform to launch the proprietary diamond brand
in India.
The diamond growth story seemed to be continuing when
De Beers posted its financial results for the financial year
that ended on the last day of 2011, CEO Philippe Mellier
said it had been an exceptional year for the company.
Indeed, sales had grown 26 percent over the previous
year to a whopping $7.4 billion (Rs.36,534 crore).
What was interesting, however, was that the volume
of diamonds sold in carats, had actually decreased to
31.3 million carats from 33 million carats the previous
year. Diamond prices, Mellier said, had risen 29 percent
between January and December of 2011.
In fact, last year, many diamond dealers had expressed
the worry that the rapid increase in diamond prices
was actually eroding one of the factors working in
36
12-02-29 2:31 PM
their favour as an
alternative to gold
that was not only
expensive but also had
wild fluctuations in price.
The fact that for any
given price, one could get
a nice diamond as against a
drastically reduced amount of
gold was something that spurred
diamond sales, said one broker.
But, he added, the steep increase
in diamond prices last year wiped and
even reversed that pull factor.
That prices would rise and continue to do
so over the next decade at least, was a given
according to all the mining companies. The
logic was simple, global demand for diamonds,
particularly from the emerging markets of China
and India, had far outstripped supply. The worlds
major mines had all peaked in output and were
now on the decline. No new mine to supplant them
had been found. It normally takes between 7 and 10
years for a mine to enter commercial production from
the time it is discovered. Hence the optimistic forecast
on diamond prices for the coming decade by the mining
companies.
The second factor, say Indian diamond

dealers, is the fact that rough diamonds
from Zimbabwes Marange alluvial
diamond deposits have now been cleared
by the Kimberley Process and are now
coming onto the processing market.
37
12-02-29 2:31 PM
So it was something
of a surprise to
hear Mellier say in
response to a question
from IDEX Magazine
India Retail, that he
couldnt be sure if there
would be a gap between
supply and demand this year.
Or that diamond prices would
definitely continue their steady
upward movement.
Mellier said that De Beers plans to
keep its diamond output much the same
as last year between 31 and 32 million
carats. Given that the US economy, which
still consumes about 40 percent of all the
diamonds produced in the world even after the
economic downturn, is now showing increasing
signs of recovery, diamond prices should show
even stronger signs of climbing up towards the sky.
In fact, diamond dealers say that barring any major
economic shocks (they have a wary eye on Europe as
well as the still nascent recovery in the US when they
say this) diamond prices are expected to remain more
or less unchanged over the year.
Two major factors have impacted diamond prices.
To begin with, there is still a great deal of economic
uncertainty in the world and consumers are right now not
willing to pay higher prices for diamonds, their increasing
scarcity notwithstanding. There are also a whole range
of other luxury products and services that are available
to them.
The second factor, say Indian diamond dealers, is the
fact that rough diamonds from Zimbabwes Marange
alluvial diamond deposits have now been cleared by
38
12-02-29 2:31 PM
The Indian bridal market will always be

very important to us we see ourselves
playing an important role growing the
diamond engagement ring category and
also ensuring that we enjoy a larger
share within the more traditional bridal
purchases. We are seeing an increasing
preference for diamonds from modern
brides which we believe will work in our
favour. While we are a global brand, we
are looking forward to working with India
specific gifting moments such as Diwali,
Karva Chauth and weddings to help build
the brand. / CEO Stephen Lussier /
the Kimberley Process and are now coming onto the

processing market. There are substantial quantities
of these diamonds and given the reduced consumer
demand, they more than fill the shortfall in supply. As
a matter of fact, several analysts pointed to aggressive
rough diamond supply from Zimbabwe production has
reportedly been revved up to a million carats a month
as the main catalyst for a softening in diamond prices
over January this year.
Added to this is the fact that the Indian diamond
processing industry, having drastically reduced its
workforce during the economic downturn, has not
been able to attract back enough skilled labour to come
back up to its pre-2008 production capacity. There isnt
going to be the much-talked about shortfall in supply
after all. However, diamond dealers caution that

buyers who want specific goods in substantial
quantities, will still face shortages in that the
specific goods in the quantities needed,
might be hard to come by at the price
points expected. We have buyers in
the Mumbai market today, who are
ready to snap up goods that are
anywhere in the region of the
specific goods they are looking
for, said one dealer, they
know they cant afford
to let what they have go
because they might never
get the specific goods they
are looking for.
The De Beers CEO responded
cautiously to the question of how much
he thought the supply shortfall would be
by saying that due to the uncertain global
economic outlook, he could not say what if any,
the shortfall between diamond production and
consumer demand would be through 2012. He also
said that he could not comment on when or whether
rough diamond prices would increase this year.
In an indirect acknowledgement of the fact that diamond
prices may have actually gone over the top in 2011
and thus run out of steam to keep their upward trend,
he noted that rough diamond prices had to be seen
in context of the huge price increase over 2011. This
increase had been strong over the first half of the year,
fading out and rolling back towards the end of the year.
Any consideration of prices would, therefore, have to
take the strength of demand into consideration.
Mellier observed that all economic forecasts for the first
half of 2012 were uncertain, with greater clarity of outlook
only coming in the second half. The CEO observed that
39
12-02-29 2:31 PM
In spite of uncertainty, and barring a global

economic shock, we expect to see continued growth
in global diamond jewellery sales, albeit at lower
levels than the exceptional 2011 growth. This will be
driven by the overall strength of the luxury goods
market, improving sentiment in the US (the largest
diamond jewellery market), continuing growth in
China, and the positive impact of the 2011 polished
price growth on retail jewellery prices.
the softness in the market had made De Beers clients,
the Sightholders, who are among the worlds largest
diamond dealers, nervous and cautious.
He however noted that despite the economic uncertainty,
all luxury goods had held up well in consuming markets,
with strong demand all over the world, making him look
forward to an exciting 2012.
This optimism is real in that De Beers is looking at
expanding its mining capabilities by acquiring another
mine. Though unwilling to comment directly on the
subject, the company is clearly interested in the
40
possibility of buying the Ekati diamond mine in Canada

from BHP Billiton. In response to a question, De Beers
Chief Financial Officer Gareth Mostyn said that while
De Beers was interested in all opportunities like that of
acquiring the Ekati mine, he could not disclose what if
any plans the company had in regard to this.
In its outlook statement, put out along with this annual
results, De Beers noted, In spite of uncertainty, and
barring a global economic shock, we expect to see
continued growth in global diamond jewellery sales,
albeit at lower levels than the exceptional 2011 growth.
This will be driven by the overall strength of the luxury
12-02-29 2:31 PM
goods market, improving

sentiment in the US (the
largest diamond jewellery market),
continuing growth in China, and the
positive impact of the 2011 polished
price growth on retail jewellery prices.
Along with this sunny outlook, however, the
company noted, On the production front, we will
continue to prioritise waste stripping and maintenance
backlogs, and we therefore do not expect a material
increase in carat production in 2012. This focus, which
began in H2 and will continue during Q1 2012, will
position De Beers to ramp-up profitable carat production
as Sightholder demand dictates. In the medium to longer
term, the industry fundamentals remain positive with
consumer demand, fuelled by the emerging markets of
China and India, outpacing what will likely be level carat
production.
In 2009, India represented 7 percent of global diamond
consumption. This was projected to grow to 11 percent
in 2016, but many analysts think diamond consumption
in India has crossed that mark. And though growth has
slowed noticeably, the outlook is still positive.
This is part of a larger trend in luxury consumption. A

report by the Confederation of Indian Industry (CII)
and the consulting group A.T. Kearney noted that luxury
consumption in India had continued to grow strongly last
year, despite the economic slowdown and uncertainty in
the rest of the world. What was more, the Indian consumer
showed clear signs of aligning with global demand.
The report stated, Consumers today are accepting and
adopting international customs and trends at a much
faster pace than anticipated. India no longer continues to
be the lagging market that takes time to adapt to global
changes. Consumers are well informed and increasingly
demanding about latest trends especially in the luxury
But now, the Indian consumer has also aligned with the
worries that are keeping consumers in other markets
from buying strongly. Strong demand is now tempered
with caution and a worry about the economic situation in
the rest of the world.
In such a situation, say analysts, a product with steady
supply and relatively stable prices will come across as
the purchase of choice for luxury customers. Diamonds
look like they might provide just the thing that the Indian
jewellery retailer is looking for this year.
41
12-02-29 2:31 PM
hrao H$s A{YH$ pWa

H$s_Vm| Ho$ gmW
Bg gmb ~Zr ahoJr
{ZaVa CnbYVm
{dZmoX Hw$[a`Z mam
42
cover story Hindi_f.indd 2
12-02-29 3:29 PM
Eogm bJVm h {H$ Bg df hram CnmXZ H$m

Va AnojmH$V Wm`r hmoJm VWm H$s_V|
pWa ah|Jr, Omo H$_mo~oe nyao df EH$ Ogm
ahoJm& Bg CmoJ go OwS>o {dcofH$m| H$m _
mZZm h {H$ \w$Q>H$a Am^yfU CmoJ Ho$ {bE
`h EH$ AN>m Adga h, {Ogo A~ gmoZo
H$s VoO CVma-MT>md dmbr H$s_Vm| H$s ~OmE
hrao H$s AnojmH$V pWa H$s_Vm| VWm AN>r
CnbYVm Ho$ AmYma na AnZo `dgm` H$s
`moOZm ~ZmZo H$m _mH$m {_boJm&
^maVr` Cn^mo$m ~mOma _| H$s_Vm| Ho$ Bg VoO CVma-MT>md Ho$

H$maU gmoZo H$s Amoa O~XV $n go AmH${fV ahZo dmbo `{$
^r A~ {Zdoe Ho$ {bE Bgo gXoe H$s ZOa go XoIZo bJo h& BgH$m
BVZm ^md nS>m h {H$ A~ `hm Ho$ {ddmh ~mOma _| hrao Zo AnZr
mg OJh ~Zm br h, {Ogna H$^r Ho$db gmoZo H$m amO Wm& `hm
Ho$ ~mOma _| hrao Ho$ Bg V~o Ho$ ~mao _| {nNbo gmb V~ nVm Mbm
O~ _eha hra H$nZr S>r ~r`g Zo AnZo Q>oS>_mH$`w$ ~mSo>S> hrao\$maEda_mH$ H$mo `hm bmM {H$`m& IDEX AmZbmBZ Ho$
_w` H$m`H$mar A{YH$mar Q>r\$Z by{Oà (Stephen Lussier)
Zo H$hm, ^maVr` {ddmh ~mOma h_oem Ho$ {bE h_mao {bE _hdnyU
ahoJm- Ohm h_ VoOr go {dH${gV hmoZo dmbo gJmB H$s hrao AJyR>r
dJ _| Ah_ ^y{_H$m {Z^m aho h, gmW hr A{YH$ nman[aH$ ddm{hH$
IarXXmar jo _| ^r h_ EH$ ~S>m {hgm ~ZZo H$m AmZX CR>m aho h&
h_ AmYw{ZH$ dYwAm| H$s Amoa go hram| Ho$ {V CZH$s ~T>Vr ngX H$mo
43
12-02-29 3:29 PM
VU Q>h{b`mZr Ama amo{hV ~b Ogo \$eZ Ho$ {XJO

Zm_m| Ho$ gmW, Omo {ddmh ~mOma _| ^r H$m\$s _eha
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ddm{hH$ Am^yfU dJ _| AnZm H$X_ aIm&
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AVam>r` ~mS> h, dht h_ AnZo ~mS> H$mo Ama _O~yV ~ZmZo Ho$ {bE
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VU Q>h{b`mZr Ama amo{hV ~b Ogo \$eZ Ho$ {XJO Zm_m| Ho$
gmW, Omo {ddmh ~mOma _| ^r H$m\$s _eha h, \$maEda_mH$ Zo
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Q>oS>_mH$`w$ hrao ~mS> Ho$ bmM Ho$ {bE EH$ ~ohVarZ _M Ho$ $n _|
XoIm J`m&
hrao _| d{ H$s H$hmZr AmJo ^r Omar ahr O~ S>r ~r`g Zo {dmr`
df Ho$ {bE Omo 2011 Ho$ AmpIa {XZ na g_m hAm, AnZo {dmr`
ZVrOo H$mo nmoQ> {H$`m& BgHo$ _w` H$m`H$mar A{YH$mar {\${bn
_o{bà (Philippe Mellier) Zo H$hm, {H$ H$nZr Ho$ {bE `h EH$
AZmoIm df ahm& ~oeH$ gog _| {nN>bo df H$s VwbZm _| 26% H$s
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33 {_{b`Z H$aoQg go H$_ hmoH$a 31.3 {_{b`Z H$aoQg go VH$ Om
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2011 Ho$ ~rM 29% VH$ H$s d{ hB&
XaAgb {nN>bo df H$B hrao `mnm[a`m| Zo AnZr qMVm Om{ha H$s
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44
12-02-29 3:29 PM
CVma-MT>md H$s pW{V

_| do gmoZo Ho$ EH$ {dH$n
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45
12-02-29 3:29 PM
Bg{bE IDEX
_Jo{OZ B{S>`m [aQ>ob
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lr _o{bà Zo H$hm {H$ S>r ~r`g Zo AnZm
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46
12-02-29 3:30 PM
BgHo$ Abmdm V` `h h {H$ ^maVr`

hram gH$aU CmoJ {OgH$m Am{WH$
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J`m Wm, df 2008 go nhbo H$s AnZr
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n`m Hw$eb l{_H$m| H$mo AmH${fV
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nmg Eogo IarXXma h, Omo Eogo _mbm| H$mo IarX boZm MmhVo h Omo
{d{e> _mbm| Ho$ jo _| H$ht ^r CnbY hmo {OZH$s& do

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{_b hr Z nmE
S>r ~r`g Ho$ _w` H$m`H$mar A{YH$mar Bg
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H$maU Amny{V _| H$_r hmoJr, H$m\$s
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hrao Ho$ CnmXZ VWm Cn^mo$m
_mJ Ho$ ~rM {H$VZr H$_r hmoJr&
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{H$ `m Bg gmb H$o hrao H$s H$s_Vm|
_| d{ hmoJr Ama H$~ hmoJr&
hrao H$s H$s_V dmVd _| 2011 _| hr Q>mn na
Mbr JB Wr Ama AnZo D$na OmZo dmbo bjUm| H$mo
~ZmE aIZo Ho$ {bE CgH$m Cgmh R>S>m nS> J`m, Bg
V` Ho$ A`j drH${V _| do H$hVo h {H$ H$o hrao H$s
H$s_Vm| H$mo df 2011 _| H$s_V _| hB ~S>r d{ Ho$ gX^ _|
XoIm OmZm Wm& `h d{ df Ho$ nhbo AmYo {hgo VH$ H$m\$s
_O~yV ~Zm ahm Wm Omo df Ho$ AmpIa VH$ H$_ hAm Ama dmng
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H$s e{$ H$mo `mZ _| aIZm hmoJm&
_o{bà H$m _mZZm h {H$ 2012 Ho$ {bE g^r Am{WH$ ^{d`dm{U`m
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_w` H$m`H$mar A{YH$mar H$m _mZZm h {H$ ~mOma H$s Za_r Zo S>r
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47
12-02-29 3:30 PM
h_ hram Ho$ d{H$ {~H$s _| gVV d{ hr XoIZo H$s C_rX

H$aVo h, ~pH$ 2011 Ho$ A`{YH$ d{ H$s VwbZm _| {ZMbo
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H$s H$s_Vm| na 2011 Ho$ nm{bS> _mb H$s H$s_Vm| H$s d{ Ho$
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~r`g Ho$ _w` {dmr` A{YH$mar JaoW _mopQ>Z Zo H$hm {H$ ^bo hr
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49
12-02-29 3:30 PM
Show report
all images: Fiera di Vicenza
Silver ShineS
At vicenzAoro Winter
by Danielle Max
fter getting off to a slow start, the Vicenzaoro

Winter show picked up speed and by the time the
fair finished, many exhibitors were quietly pleased with how
business at the show had been. It is hopefully a harbinger
of good things to come this year.
The show rebranded itself, yet again. It had a new name
again and a new logo. It is also trying to differentiate
itself from the other trade fairs in the industrys crowded
show calendar with the launch of Trend Vision Jewellery
+ Forecasting, a permanent research center specializing
in discovering the latest trends in the world of jewelry,
watchmaking and high-end accessories.
If the shows brand was undergoing something of a
transformation, some of the product offerings at the fair
were also evolving to reflect the new reality of a posteconomic downturn world that is still unsure of its footing.
In the past, Vicenza has always been the gold show. This
year,exhibitors with silver product lines were displaying
the fact proudly in their vitrines, no doubt in the hope of
attracting buyers suffering from gold jewelry sticker shock.
50
Show report_263_HC.indd 58
One of the busiest booths at the show was Pesavento, an

Italian-based company offering big, bold and beautiful
designs. One of the most eye catching collections in
its vitrine was the Dreams Dust line, whose pieces
including rings and bracelets are coated in an application
of colored reflecting particles. While the products were
certainly attractive and unusual, undoubtedly part of the
companys popularity at the show was because it works
only in silver.
The use of innovative silver design certainly seemed to be
a winning formula for Vicenza-based Adami & Martucci.
Designer Alberto Luzzi specializes in silver mesh to create
eye-catching products at an accessible price point. People
want big jewelry, but they also need it to be affordable,
said the companys Henrik Michel. He said that although
visitor numbers were down, especially over the September
Vicenza show when people were stocking up for the holiday
season, the company was very pleased with the amount of
buyers it had seen.
Some designers circumvented the price constraints of
precious metals by doing away with them altogether.
iDex MaGaZine INDIA RETAIL| NO 16 SHOW REPORT
12-02-28 5:30 PM
A growing number of companies are offering pieces strung

not on gold, platinum or even silver chains, but on brightly
colored material or leather straps. This direction was seen
to great effect in the windows of The Fifth Season, the
newly launched brand from Roberto Coin.
Another trend reflecting the changing economic reality
was the emphasis on using a lower karatage of gold. While
some companies had 14 karat gold pieces to tempt buyers
looking to save, a new company was hoping to change the
face of the gold jewelry industry completely.
Vicenza-based One Karat Gold took the opportunity to
launch its 1 karat gold alloy at the fair. Containing just 1
karat of gold (4.167 percent) the products creators are
hoping that designers and manufacturers will licence the
material to create their own collections.
In some ways, it makes a lot of sense. Designs have been
getting smaller and thinner over the past few years, as
designers seek ever more innovative ways to counter the
escalating prices of gold. With a much cheaper 1 karat gold
alloy, manufacturers especially at the lower end of the
market can create large, exciting pieces, without breaking
the bank. Whether it catches on with designers, and with
the buying public, is another matter altogether.
One designer who is for the most part keeping her
materials precious is Isabelle Langlois, who decorated
her small display case in the Glamroom trend hall with
macaroons. The colors of the patisseries perfectly matched
the French designers candy colored jewelry, which relies

heavily on perfectly cut gemstones.
Langlois said she was very pleased with the performance of
the show. She saw a far larger number of visitors than at the
previous edition of the fair in September and certainly far
above the numbers who visited the exhibition in January 2011.
Last January, just the first two days were busy, but after
that the show really emptied out, she said. I didnt see a
single client during the final four days of the show. That
was not the case this year. As for who she was seeing,
Langlois said there were a lot of Americans, as well as many
Turkish wholesalers. She had sold to clients from Austria,
Germany, France, Japan and America, among others.
Although Langlois said the increasing price of precious
materials and the continuing economic uncertainty had not
really affected her designs, she admitted she was relying
more heavily than ever before on pearls. They are still
precious, but they can give you so much more volume, she
said. Since the September show, she has also added a new
stainless steel and gold line but, other than that, remains
committed to working exclusively in gold.
Over in the B1 hall, which houses some of the biggest
names at the show, such as Cielo Venezia, Fope and Zydo,
a first time exhibiting company was thrilled at how well the
show had performed. While Brumani may be a well-known
name, the only European show it had previously exhibited
at was Baselworld; a situation it has been trying to rectify
51
12-02-28 5:30 PM
for the last three years. Now, with its inaugural debut at
Vicenza, Eduardo Brner, marketing and style director for
the company, was extremely enthusiastic about the show.
As first time exhibitors, the show has been well ahead of
my expectations. We have seen regular and new clients, he
said in between appointments. Among the countries he did
business with were South Africa, Turkey, Kazakhstan, the
Ukraine, Italy and Portugal.
Although Brazil currently has such a strong economy, and
a thriving domestic retail market, Brner was conscious
of the effects of the situation on the rest of the world.
The crisis exists, and our clients are feeling it, but they
are looking for something new and unusual to introduce
to their customers to catch their attention; we are doing
that.
Proving that its all a matter of expectations, diamantaires
exhibiting at the Vicenzaoro Winter show expressed a
range of opinions about how the first trade fair of the year
went. Those who came with low expectations found that
business was better than they could have hoped for, while
others who felt that the show would get them off to a good
start to the year were slightly disappointed.
Part of the issue is that Vicenza is a minor show for diamond
traders. At the industrys major trend affair, diamonds are a
sidelined product with diamantaires located away from the
action in the main halls.
The position was a concern for Jeetu Jain of first-time
exhibitor HD Diam, which sells items below 5 points. He
thought business would have been better if the diamantaires
had been closer to the center of the exhibition. The shows
layout, he said, was not conducive to browsing. Once they
52
visit, they dont come back, he said of potential clients

who tended to walk past the booths, never to be seen again.
Even so, business had been good for the company, albeit
below expectations. One of the reasons we have had such
good trade is because we specialize in smaller goods.
In terms of what was selling, Jain said that VS-SI goods
had been particular popular.
In the next booth, Bufi Raffaele of Ideal Diamonds was
somewhat less enthusiastic about the show, which he said
was very disappointing. Visitors are down something like 30
to 35 percent, he estimated, adding that for the most part
the customers he had talked to were not interested in buying.
With designers and manufacturers cutting back on costs by
opting for smaller, lower quality goods, Raffaele said it was
not so surprising that his business was down at the show
since his company specializes in higher quality goods.
The trend of downsizing in both quality and size was
something that Patrick Bornstein, director of Antwerpbased Bornstein Diamond Corp., had also noticed. Even
with customers ignoring his larger goods, Bornstein said
trade at the fair was better than expected, although, he
wryly added that expectations had been very low to begin
with.
While it did not surprise Bornstein that the most popular
items were the smaller, cheaper items of SI2 quality, what
did amaze him was that for the first time in a few years he
was also selling some fancy shapes, including hearts, ovals
and marquis. Its always rounds in Europe, he said. Im
surprised and happy about the fancies. A lot of people have
fancies in stock; its been a difficult item for a long time. iDeX
12-02-28 5:31 PM
Industry News
Shine (left) and Borhanjoo at the press conference.
DIamoND TraDINg CompaNys

New SyStem AllowS oNgoiNg ChANgeS iN ClieNt liSt
he dynamic distribution system for rough diamonds

of the Diamond Trading Company (DTC), the rough
diamond sales arm of mining giant De Beers, will let it
continuously assess the manufacturing industry and allow
it to alter its client list on an ongoing basis. The DTC
normally assesses the market and the strengths of diamond
manufacturers and appoints a list of clients to whom it
will supply rough diamonds for a three-year period.
These clients, called Sightholders, indicate their choice of
diamonds along with quantities and get to buy diamonds
from the DTC ten times a year. The DTCs new client list
has recently been announced and the contract period runs
through till 2015.
IDEX MAGAZINE INDIA RETAIL| NO 16: INDUSTRY NEWS
Industry News_1.indd 76
Varda Shine, the DTCs CEO, said at a press conference in

Mumbai in February that the new system would allow the
addition of clients to the list based on market dynamics
and manufacturers buying performance. Shine was
accompanied by Mahiar Borhanjoo, the DTC Executive
Director of Sales and Sightholder Services. She said that
90 percent of the DTCs rough supplies were allocated
for distribution to Sightholders while the remainder was
sold at auction through its open market Diamdel rough
diamond sales system.
If the DTC observed that a certain category of goods
wasnt being bought by Sightholders and that someone was,
53
12-02-29 1:37 PM
however buying those same categories strongly through

Diamdel, that person would be given a direct allocation of
those goods in a Sight (the term used for each direct sale
event to clients).
We have only a fixed quantity of goods and we dont
hold anything in inventory. So it is a matter of continuous
monitoring and redistribution of rough supplies, Shine
said. Elaborating on this, she observed, we have three
major considerations in our selection of Sightholders
the first is the total availability of goods, followed by the
specific requirements of a prospective Sightholder and
finally an assessment of his performance.
The availability of goods plays a significant role in that
if say 20 people ask for the same kind of goods and we
only have enough for six, then automatically, number
seven onwards cant be Sightholders. There are good
manufacturers who havent got Sights simply because of
this. But we continuously monitor and calibrate the market
and so if certain goods arent being taken by Sightholders,
we can reallocate them.
Sightholders were nervous and cautious at the moment

and that he couldnt say whether there would indeed be
a shortfall in diamond supply in relation to consumer
demand. She responded that this was indeed so, but only
a short-term issue. We have started this year with an
overhang of goods in the pipeline and so even though
there is a shortfall in supply compared to demand, the
overhand needs to be cleared. The long-term scenario still
looks good, she added.
Shine said that demand would grow as forecast. We see
middle single digit growth in US consumption this year
as against the double digit growth that market witnessed
in 2011. India and China continue to be strong markets.
In response to a question, she said that De Beers was still
assessing Indian diamond consumption in 2011 and would
have the final figures by the middle of March. While not
up to the record 32 percent growth seen in 2010, the Indian
market appears to have, however, grown in double digits
over 2011.
Borhanjoo later explained that the DTC had situations

in 2008 where due to internal liquidity problems, certain
Sightholders were unable to buy specific goods. The DTC
was then unable to reallocate those goods. The new system
rectified that.
Commenting on the unearthing of the reported illegal

bank operating on the premises of the Israel Diamond
Exchange, Shine said that the matter was sure to have
negative reputation implications for the industry. She
cautioned however, There is a complete information
blackout on the matter and most of what you hear is simply
speculation.
Shine was asked whether auctions were a reliable price

indicator as a lot of speculative buying took place at
auctions. De Beers had also noted in its annual financial
report that speculative buying had played a significant role in
the strong rise in diamond prices in 2011. Shine responded
that though the Diamdel auctions were a big element in the
DTCs price discovery process, market conditions were also
factored in before pricing decisions were taken.
She added that from what information was available, the

issue related only to tax evasion and not money laundering.
Any involvement of money laundering, she said, would
have really bad consequences for the diamond industry. As
things stand, I still thing the long-term outlook is positive
the people who dont do business in a fully transparent way
need to be weeded out. Well have a better industry for it in
the end, she said.
We use auction prices in conjunction with our assessments

of polished prices and the markets behavior in general,
to set our rough prices, she stated. She went on to say,
Higher prices can be paid at an auction even without
speculation, if a manufacturer wants to source the last 10
percent of the goods for a single big order, she observed.
Thats why we study the market in general as well.
On other matters, Shine said that 99.4 percent of the Anglo

American board had voted in favor of the companys
decision to acquire the 45 percent share in De Beers held by
the Oppenheimer family. She added that all the necessary
papers for the authorities to decide whether the acquisition
was anti-competitive had been filed and the process was
expected to be completed in the fourth quarter of this year.
Cynthia Carroll, the CEO of Anglo American knows
that diamonds are different from commodities, she said,
adding that Anglo supported the concept of long-term
supply contracts. I D E X
Shine said that she still maintained that this was a diamond
decade and was optimistic about the future. Shine was
asked why De Beers CEO Philippe Mellier had said
54
12-02-29 1:37 PM
The four consuls general with GJEPC Chairman Rajiv Jain (second from left) and hosts.
Four INDIaN DIamoND DEalErs

AppoiNted CoNSulS geNerAl
function was held in Mumbai on Valentines Day

to felicitate four Indian diamond dealers who
have been appointed Consuls General of four different
countries. Harshad Mehta, Chairman of Rosy Blue, has
been appointed Consul General for Armenia, Vishal Doshi,
Group Executive Director of Shrenuj for Botswana,
Shreyas Doshi, Chairman and Managing Director of
Shrenuj for Finland and Kishore Virani Chairman of
KARP Impex for Lesotho.
The event was hosted jointly by the Gem & Jewellery Export
Promotion Council (GJEPC), the Bharat Diamond Bourse
(BDB), the Mumbai Diamond Merchants Association
(MDMA), and the Diamond Exporters Association Ltd.
(DEAL). Anoop Mehta, President of the BDB, Bharat
Shah, President of the MDMA and Arvind Parikh,
President of DEAL, were present at the occasion.

GJEPC Chairman Rajiv Jain, speaking at the event said,
It is not only an honour and distinction for the Consuls
General, but for our entire industry to have four individuals
selected for this honour. This is no doubt in recognition
of their efforts in establishing trade relations with these
countries. I would like to believe that it is also a recognition
and great credit for our industry, which has taken such
rapid strides in these past few decades to emerge as the
leading diamond center in the world, a strong jewellery
manufacturing centre and exporter, a front-ranking
manufacturer and exporter of coloured gemstones and
finally, one of the most promising and fastest developing
markets for the gems and jewellery segment.
IDEX
55
12-02-29 1:38 PM
orDErINg EXpENsIvE JEwEllEry

oN phoNe leAdS to JewellerS murder
anoj Kumar Grandhi of Vaibhav Jewellers in

Vishakhapatnam, was brutally murdered on
February 7 in Bangalore by the driver of his hired car and
two accomplices. Grandhi was a
director of the All India Gems and
Jewellery Trade Federation (GJF).
Grandhi was in Bangalore on a
buying trip for high end jewellery.
Having picked him up at the
airport, the driver overheard
Grandhi making enquiries about
expensive diamond jewellery on
his mobile phone, as they drove
from shop to shop.
The next morning, having picked Grandhi up at his hotel

for the drive to the airport, the driver feigned problems
with the cars lights and gear box as the car went over the
Windsor Manor bridge. He pulled
up next to a black car in which his
two colleagues were waiting. They
barged into Grandhis car and the
driver then headed onto a secluded
road paralleling the railway tracks.
Despite his pleas for the three
to spare his life and just take the
jewellery, Grandhi was garroted
with a wire and towel. The three
then drove back to the bridge to
pick up the black car and both cars
then headed towards Bangalore
airport. Along the way, Grandhis
body and the jewellery were
transferred to the black car, which
then headed off to a secluded
hillside. Grandhis body was flung
into the valley.
Having dropped him off at a

wedding and jewellery exhibition
at the Palace Grounds, the driver
phoned two of his colleagues and
told them that Grandhi would be
carrying very high value jewellery
and diamonds on his person.
manoj grandhi (above) was adbucted by his hire-car driver and two
accomplices at the windsor manor bridge (at the centre of the photo
below), robbed and then murdered.
Meanwhile, the first driver drove on to the airport and
having waited for a while at the check-in zone, called his
office to say he had dropped Grandhi off at the airport.
He then returned to the office and produced a normal trip
sheet.
Police were initially unable to make headway in the case
as they worked on the assumption that Grandhi had
safely reached the airport. Under sustained interrogation,
however, the driver broke down and confessed to the
crime. The other two drivers were then picked up and
based on information from them, a search for the body was
instituted. Grandhis body was found hanging on a tree, 150
feet below the road in the valley, on February 9.
Google Earth image
56
IDEX
12-02-29 1:38 PM
DIamoND IN THE rougH

re-lAuNCheS e-CommerCe Site
ough diamond jewelry brand Diamond in the Rough

recently announced the re-launch of its ecommerce
site. The new website aims to educate consumers about
diamonds in their natural form, and to showcase the
companys one-of-a-kind bridal and fine jewelry.
Because the jewelry is based on rough diamonds, each piece
is unique and inventory changes quickly. To facilitate the
purchase process, the site offers various online customer
service tools, such as live chat, real-time use of social media
platforms, and traditional email and phone representatives.
Leading the rebranding effort is the companys new CEO
Monica Chambers. A recent Harvard Business School
graduate, Chambers previously held positions at JWT, AG
Properties and Columbia Records.
My background is in media and I absolutely believe that
the future of marketing lies in the intersection of content
and commerce. We aim to entertain and inform, never to
interrupt. While this approach isnt foreign to ecommerce,
luxury brands, particularly fine jewelry brands, have been
slow to jump on board, she said.
Jewelry by diamond in the rough
The company said it intends to focus heavily on social

media to create brand awareness, brand preference and to
drive sales. Facebook, Twitter and Tumblr are already key
components of its online marketing strategy, with Pinterest
and other sites gaining traction due to their viral nature.
IDEX
57
12-02-29 1:38 PM
ADVERTORIAL
What Are Fancy-Cut Diamonds?

The article What Are Fancy Cut Diamonds? is the first of a series issued by GIA
(Gemological Institute of America).
iamond cuts have come a long way since the

introduction of the first round brilliant. Thanks to
advances in cutting technologies and the unlimited
imaginations of cutters, diamonds can be cut in
an incredible variety of ways. Today, fancy cuts shapes like
cushions, princess, ovals and marquise are more important
than ever, maintaining their popularity against the still-dominant
round. They will always attract the diamond buyer who loves the
unique qualities that make them shine in their own special way.
Fancy cuts do receive quality rankings on trade price lists. But
buyers are less likely to follow strict guidelines when they deal in
fancy-cut diamonds. They dont like to buy fancy-cut diamonds
without seeing the actual stones, because each stone is unique.
While the word cut can refer to a gems proportions and finish,
we are referring to shape and cutting style. Shape refers to the
face-up outline of a gem, and cutting style is the arrangement
of its facets.
PoPular cuTs
The face-up shape of a fashioned diamond is usually the first
thing you notice about it. A triangular, square or pear-shaped
outline stands out immediately in a crowd of rounds. Because
shape is so noticeable, its often a major selling point of a fancycut diamond.
A diamond shopper often comes into a jewelry store with a
specific shape already in mind. Fancy cuts provide a way for
many customers to express their individuality, can appeal to
less traditional consumers, and be versatile design elements
in multi-diamond jewelry.
Whether a fancy cut is newly popular or traditional, its a good

idea to be familiar with its appearance and uses. Because theyre
all so different, each fancy cut has its own set of variables.
BrillianT-cuT sHaPes
Diamond manufacturers have long experimented with a variety
of shapes and cutting styles. More recently, they have worked
to make brilliant-cut fancy shapes in an attempt to bring the
round brilliants superior light return to oddly shaped or lowcolor rough. At the same time, this has led to new cuts that
have increased profits by increasing rough yield.
Cushion: A classic brilliant cut thats generally rectangular or
squarish with slightly curved sides and/or rounded corners. One
traditional trade term for the brilliant-cut cushion is antique
cushion.
Half-Moon: This cut resembles a round brilliant divided in half
from table to culet, creating a half-circle face-up outline. Broken
rounds are occasionally recut into half-moons.
Heart: A brilliant cut with a heart-shaped face-up outline. This
classic cut has a shield-shaped table and culet, 32 crown facets,
and 24 pavilion facets. The heart is a symbol of romance for
many customers.
Marquise: An elongated, elliptical brilliant cut with curved sides
and pointed ends. Its also called a navette, from the Latin for
ship, because its face-up outline resembles a little boat. The
marquise gained popularity in the 1970s, especially in bridal
jewelry, but lost ground to the princess cut by the beginning
of the 21st century.
From left: cushion, square-emerald, emerald, Radiant, oval, marquise and pear-cut diamonds.
Photograph by Robert Weldon GIA
58
GIA english cs5.indd 58
12-02-28 4:47 PM
The rounded end of a pear is called its head. The curved edges
between the head and the belly of a pear or oval are called
shoulders. The rounded portions of a heart shape are called lobes,
and the V-shaped indentation between them is called the cleft.
Pear: The face-up outline of a pear-shaped brilliant cut diamond

is rounded at one end and tapered to a point at the other. The
facet arrangement is a variation on the round brilliant cut. Pears
can be almost as brilliant as rounds, yet provide a pleasing
departure in a shape thats traditional and timeless. In addition,
a large pear cut diamond tends to look more graceful on the
finger than a round of the same weight. A long, narrow pear is
sometimes called a pendeloque.
Because their pointed ends can be vulnerable to breakage,

some marquises, pears and hearts are cut with French tips.
This faceting variation increases durability by replacing the
large bezel facet at the point with star and upper girdle facets.
Princess: A square or rectangular brilliant cut developed in the late

1970s. Princess cuts surpass round brilliants in yield, retaining
about 80 percent of the rough from which theyre cut. (Round
brilliants typically only retain about 50 percent.) Their angular
shape and considerable brilliance have made them popular
alternatives to rounds and they are often used
Gem and Jewellery resources in india

GIA grading reports and professional training are essential
tools for enhancing consumer trust in the retail associates
expertise. As Indias market for diamonds and gems continues
to dramatically grow, so too have the resources available to
jewellery professionals. They include:
Radiant: Patented in the late 1970s by Henry Grossbard, the

Radiant cut is a square or rectangular mixed cut with beveled
corners. The Radiants angular shape and brilliant-cut facets
make it a scintillating alternative to the emerald cut. Radiants
retain about 60 percent of the rough from which theyre cut
and can be used to concentrate color and shift a diamond into
the fancy-color category.
GIA Laboratory GIA tests every diamond it grades for

laser drilling, fracture filling, irradiation, high pressure/high
temperature (HPHT) and chemical vapor deposition (CVD) to
detect known treatments and separate natural diamonds from
synthetics.
Semi-Navette: A three-sided fancy cut with two rounded sides

thats similar to the triangular brilliant, but is actually one-half
of a marquise. Broken marquises are sometimes recut into
semi-navettes.
Shield Brilliant: This cut resembles a warriors shield in outline.
The number of sides, as well as their lengths and angles, tends
to vary.
Star Brilliant: This whimsical brilliant cut a five-pointed faceup outline is fairly uncommon because so much weight is lost
during fashioning.
Triangular Brilliant: This cuts facets add sparkle to its angular
shape. Its a shallow cut designed to make efficient use of flat
rough and is a practical cutting option for a macle. It has a
contemporary look thats popular as matched side stones.
Triangular brilliant cuts are also known as trillions; there are
proprietary triangular cuts called the Trielle and the Trilliant.
Fancy cuts have some special shape components with special
names. The central area of the side of a pear, marquise, heart
or oval, where it curves out slightly, is called the belly. This is an
important location on a stone: Its where the width is measured.
The area between the belly and the point is called the wing.
ADVERTORIAL
Oval: A classic brilliant cut with an elliptical girdle outline

that closely resembles the round, making it a good choice for
customers who appreciate something thats just a little bit
different.
The bottom of a fancy cut, where the pavilion facets meet, is

called the keel line. It runs the length of the stone and sometimes
includes or passes through the culet.
GIAs laboratory in India, located in Mumbais Bandra Kurla

Complex, grades D-Z color diamonds ranging from 0.15 carats to
1.99 carats. The laboratory is also a take-in center for diamonds
in larger sizes and other colors, as well as coloured stones
and pearls, which are routed to GIA laboratories worldwide for
servicing. The Mumbai laboratory also offers laser inscription
and diamond sealing services.
Grading reports are not issued for diamonds that have undergone
unstable treatments, such as coating or fracture filling. And,
while grading reports may be issued for diamonds that have been
laser drilled, irradiated or HPHT processed, these treatments
are prominently disclosed on the report.
GIA Professional Training GIAs Mumbai campus offers a wide

variety of courses and instructional formats to meet the diverse
needs of Indias jewellers and manufacturers. These formats
range from on-campus programmes, lab classes, skill-building
seminars and workshops, to customised corporate programmes,
and online learning designed to minimize disruption to work
schedules. Courses emphasize hands-on practical training,
and include grading and identification of diamonds, coloured
gemstones and pearls; the detection of the latest treatments
and synthetics; professional sales training and jewellery design.
GIA courses are continually updated to ensure the most timely
and accurate information and are taught in local languages
throughout India.
59
GIA english cs5.indd 59
12-02-28 4:47 PM
31-Jan-12 11:23:59 PM

IDEX India Retail, March 2012

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March 12

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magazine india retail

05 FROM THE EDITORS DESK

hram ~mOma H$s [anmoQ>

Managing Director Yaron Barzilay

Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

Boris Mandelis (RD Media group)

PUbLIsHED by yARON bARzILAy FOR IDEX ONLINE s.A

IDEX MAGAZINE INDIA RETAIL| NO 16

Coping With produCt ChangE EvEn

lanning ones jewellery business has been something

IDEX MAGAZINE INDIA RETAIL| NO 16: EDITOR

outlook has got consumers cutting back on jewellery

DEsPITE REDUcED DEMAND, shORTAgEs

espite an increasingly robust US market recovery,

capabilities and there are shortages of polished diamonds

IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT

MUMBAI DIAMOND TRADING IN FEBRUARY

Fair demand for SI & piqu goods.

Overall demand will be very low. Prices will

Very good demand for white SI & piqu

Demand will remain stable.

Fair demand for Top colors VS-SI & white

Overall demand & prices will remain soft.

Good demand for SI2-piqu goods.

Demand & prices will remain stable.

Good demand for SI2-piqu goods.

Demand & prices will remain stable.

Fair demand for SI1+ & piqu goods.

Overall demand will remain low, prices will

Fair demand for SI1+ & piqu goods.

Overall demand will remain low. Shortages in

Good demand for VS-SI goods.

Stable demand will be seen with some

Good demand for VS-SI goods.

Stable demand will be seen with some

Good demand for VS-SI/J+ goods.

Demand & prices will remain stable.

Good demand for +0.90 cts. SI+/F-J col.

Demand & prices for VS-SI /+0.90 cts.

Very good demand for SI & piqu / D-J col.

Overall demand will be stable, prices will be

Fair demand for VS-SI/G-L col.

Overall demand & prices will remain soft.

IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT

IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT

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