The FCRF data suppliers are 24 of the most influential fancy color diamond companies in the market. Among these companies are manufacturers, traders and other specialists, each representing a different segment of the fancy color niche. The data suppliers, in addition to being members of the FCRF, are responsible for providing high quality pricing data every quarter in order to generate the Fancy Color Diamond Index (FCDI). The interviews below provide insights on the quarterly index readings.
Data Suppliers: Index Feedback
Name
David Houta
Company
Ella Diamonds
Dealing in Fancy Color Since
1996
Location of Offices
Israel
Fancy Color Price Category
Medium to High
This year seems to be soft for the luxury market as well as for the diamond industry. What do you think drives this sentiment?
“2024 has been a challenging year for the luxury market, but not just for our sector. Retail, construction, education, and even agriculture are all struggling, each for slightly different reasons. However, it seems that uncertainty is the main driving force behind the sentiment that we are in a recession. After the failed assassination attempt on Trump, the stock market initially rose due to the belief that the upcoming US election, which everyone is eagerly awaiting, had already been decided. A few weeks later, it crashed. The market needs stability, something we haven't had in the past couple of years. Wars might escalate, interest rates are high, Generation Z is anxious about the future, the AI revolution is upon us, and no one really understands how it will impact us. Additionally, we're experiencing the rebound from COVID measures.
Fortunately, crises don't last forever. China will recover, consumers have realized that lab-grown diamonds hold no more value than Swarovski crystals and cannot be upgraded. World leaders are aware that they need to prevent the spread of war. We will adapt quickly to rising temperatures, and AI will likely help us find solutions that will affect every sector, including the economy. Our world is increasingly materialistic, and as long as luxury brands can sell a handbag for a hundred times its cost, we will be able to sell magnificent diamonds. Glamour is not dead—it never has been—and it will come back soon with a vengeance“.
Fortunately, crises don't last forever. China will recover, consumers have realized that lab-grown diamonds hold no more value than Swarovski crystals and cannot be upgraded. World leaders are aware that they need to prevent the spread of war. We will adapt quickly to rising temperatures, and AI will likely help us find solutions that will affect every sector, including the economy. Our world is increasingly materialistic, and as long as luxury brands can sell a handbag for a hundred times its cost, we will be able to sell magnificent diamonds. Glamour is not dead—it never has been—and it will come back soon with a vengeance“.
Name
Ajay Sudani
Company
Yamuna Enterprise
Dealing in Fancy Color Since
2014
Location of Offices
Mumbai, Hong Kong, Belgium, New York, Dubai
This year seems to be soft for the luxury market as well as for the diamond industry. What do you think drives this sentiment?
“Yes, I agree that the diamond industry and the luxury market have indeed faced challenges this year. Factors like reduced consumer spending, economic uncertainty, and increasing competition from lab-grown diamonds are all contributing to this sentiment. Additionally, source verification and the reduced prices on Rapaport are influencing the diamond market. These factors combined have created the current landscape. However, we all need to navigate these challenges and adopt new strategies. For example, we could compare the resale value between natural diamonds and lab-grown diamonds to better understand the differences.“