1. Establish the Record Before Testing

Begin a numbered intake record while the seller is present. Photograph hallmarks, damage, stones, clasps, and identifying features. Record the stated owner, contact details, item count, gross weight, visible marks, and whether pieces arrived loose or grouped. Use a calibrated scale approved for transactions, show the display to the seller, and record the unit of measure—grams, pennyweights, and troy ounces are not interchangeable (one troy ounce = 31.1035 grams).

Obtain written consent for handling. Separate nondestructive inspection consent from permission for filing, notching, acid contact, stone removal, or any irreversible action. Clearly state who bears the risk for fragile stones, old solder joints, enamel, plating, or concealed construction. If the seller declines a necessary destructive step, you may provide a conditional quote or decline the transaction.

Store items in labeled trays, use tamper-evident packaging for anything held, and record every handoff. For higher-risk lots, use a second employee to reconcile records and actions.

2. Run the Resale Screen First

Magnification and careful handling come before any testing device. Inspect for maker marks, assay-office symbols, date letters, serial numbers, signatures, model references, construction methods, and signs of alteration. Quality marks—such as 375, 585, 750, 916, 10K, 14K, 18K, or 22K—are indicators, not proof of content. Different countries use different marking systems, and mismatched or counterfeit marks exist.

Examine wear points, inside surfaces, edges, jump rings, clasp tongues, pin stems, and areas near solder. Look for color changes that may reveal plating or a different substrate. A magnet can reveal some ferrous components, but nonmagnetic items are not necessarily gold. Hollow forms, wax fillers, weighted watch cases, springs, steel pins, base-metal findings, and mixed-metal assemblies all affect gross weight and payable metal.

Before assigning scrap status, check four signals:

1. Identity: Is there a recognized maker, collection, period, or regional technique?
2. Condition: Is the piece wearable and complete, or can it be repaired economically?
3. Demand: Does the store have a credible sales channel for the style, size, brand, and price band?
4. Economics: After acquisition, repair, merchandising, carrying time, return risk, and selling costs, does expected net recovery exceed refining enough to justify inventory risk?

Resalable estate pieces should be moved to a separate tray before any destructive purity testing. Proceed only with pieces that fail the resale and repair screen or for which the owner has authorized further action.

3. Use Layered Gold Purity Testing

No single counter test answers every question. Match the testing method to the construction, potential loss, and required confidence level.

XRF Is Fast, but It Reads a Surface

X-ray fluorescence provides quick elemental readings without visibly altering an item and is useful for sorting lots. However, geometry, finish, calibration, solder, plating, and heterogeneity affect interpretation. Surface readings typically penetrate only microns and can indicate potential fineness only when the sample is known to be homogeneous.

Take readings on flat areas away from solder and repeat across components. Consistent results support screening but do not guarantee the entire object matches its surface composition. Suspicious readings, inconsistent colors, or concealed construction require an additional method.

Touchstone and Acid Tests Depend on Technique

A touchstone test compares a streak from the item with known reference samples under controlled acid exposure. It is relatively nondestructive when performed correctly but requires proper ventilation, protective equipment, careful sampling away from solder, and correct neutralization. Results depend on a representative streak, fresh reagents, suitable references, timing, lighting, and experienced judgment.

Testing on a filed notch exposes metal beneath plating but damages the item and needs prior consent. Acid can harm finishes, porous gems, enamel, and adhesives. Written safety procedures and current safety data should be available at the testing station.

Electronic Testers Are Screening Devices

Electronic testers infer karat range from electrical or electrochemical properties. Contact, temperature, calibration, alloy composition, plating, geometry, and operator technique influence results. Use known references and follow the manufacturer’s calibration schedule. Readings should corroborate physical inspection and another suitable test when risk or value is significant.

For disputed, unusual, or high-value lots, a representative refinery assay may be the appropriate settlement basis. Laboratory assays, including fire assay, are materially different from point-instrument checks and provide the homogeneity and sampling rigor needed for final settlement.

4. Separate Gross Weight from Payable Metal

Gross weight is everything on the scale. Payable metal weight is the estimated fine-gold content for which a downstream buyer will settle. Between them are stones, pearls, enamel, glass, steel springs, watch movements, base-metal cores, clasps, dirt, adhesives, and sometimes separate precious metals such as silver or platinum handled under different terms.

Sort by tested fineness and construction before weighing lots together. Do not average unlike karats by eye. For each lot, document the estimated fine-gold grams as: net gold-alloy grams × fineness.

Use 0.375 for 9K, 0.417 for 10K, 0.585 for 14K, 0.750 for 18K, and apply the tested or contract fineness where appropriate. A stamped karat alone is not permission to multiply the entire gross weight by the karat fraction without supporting inspection and testing.

Stone removal requires clear rules. Small stones can cost more to remove, sort, and market than they return, while a commercially useful gem should never be treated as a mere weight deduction without inspection. Weigh before and after authorized removal, identify retained components, photograph the result, and state ownership of removed stones and findings in writing.

5. Show the Melt Value Calculation

Offer calculations that staff can reproduce. Use a timestamped market reference and disclose whether the shop prices from a live wholesale feed, a published benchmark, or another stated source. Be explicit about the reference and the time used for the calculation.

Basic steps:

Reference gold price per gram = reference price per troy ounce ÷ 31.1035

Estimated contained-gold value = payable alloy weight × fineness × reference gold price per gram

Indicative offer = estimated contained-gold value − refining and assay charges − expected process loss − buyer operating margin − risk reserve

For example, a mixed lot might weigh 30.00 grams gross. After removing stones and non-gold findings, 24.00 grams of metal remain. Testing sorts 15.00 grams at 0.585 fineness and 9.00 grams at 0.750 fineness. If the reference price equals $100.00 per gram, the calculation is:

(15.00 × 0.585) + (9.00 × 0.750) = 15.525 estimated fine-gold grams

15.525 × $100.00 = $1,552.50 estimated contained-gold value

That estimated value is not the customer offer. The final number depends on disclosed terms, refiner settlement basis, assay and treatment fees, minimum lot charges, logistics, price movement, expected recovery, operating costs, and margin. Avoid presenting theoretical melt value as instant cash equivalence.

6. Make the Repair-or-Melt Decision Explicit

Use a routing sheet with four possible outcomes: retail as received, repair for resale, recover components, or refine. Assign a decision owner and record the reason. Melt value should serve as a baseline comparison, not an automatic destination.

For repair candidates, estimate bench labor, replacement findings, refinishing, stone work, hallmark disclosure issues, inventory time, and likely net selling proceeds. Preserve original surfaces, signed components, and period construction when those features add demand. For generic, badly damaged, incomplete, or low-demand pieces, refining may be the cleaner route. Borderline items can be quarantined for specialist review rather than forced through same-day buying.

7. Explain the Offer Without Overclaiming

Make the customer explanation observable and reproducible: “The scale shows the gross weight. We deducted these non-gold components. These pieces tested in separate fineness groups. We applied this market reference and these purchase terms.” Show the worksheet and invite questions before acceptance.

Avoid claiming any test is infallible, any hallmark is conclusive, or that the reference price equals what a refiner pays for mixed jewelry. Provide a receipt that lists items purchased, weights, testing basis, deductions, price reference and time, payment, and any retained or returned components. Written transparency protects trust and margin.

8. Build Compliance Into the Counter

Gold-buying rules vary by country, state, province, and municipality. Requirements may include dealer registration, seller identification, transaction reporting, police uploads, holding periods, cash reporting, scale certification, privacy safeguards, and stolen-property procedures. Confirm local obligations with counsel and regulators, then convert them into transaction, holding, reporting, and release checklists. Update procedures when the business model, jurisdiction, or law changes.

Retail Process Checklist

• Open a numbered intake record and verify seller requirements.
• Photograph, count, describe, and weigh items in view of the seller.
• Obtain separate consent for nondestructive and destructive procedures.
• Inspect marks, construction, wear, components, and resale signals.
• Quarantine resale and repair candidates before destructive work.
• Sort by likely fineness and construction; test with layered methods.
• Record device, calibration check, operator, locations, and results.
• Deduct and document non-gold weight; handle stones under written terms.
• Calculate estimated fine-gold content and timestamp the price reference.
• Compare resale, repair, parts recovery, and refining economics.
• Obtain second-person review where policy requires it.
• Explain deductions and offer terms, secure acceptance, and issue a receipt.
• Apply local reporting, holding, payment, privacy, and release rules.

Train for Repeatability, Then Audit the Process

Staff qualification should combine supervised practice, written checks, safety instruction, and periodic blind samples of known composition. Training should cover hallmark systems, layered products, mixed construction, stone risks, scale use, acid handling, XRF controls, consent, privacy, and escalation triggers.

Maintain calibration and reagent logs, review exception rates, and reconcile estimated fine-gold content against refinery settlements by lot. Investigate systematic gaps by operator, test method, item type, or refiner. The goal is not zero variance but a documented process that detects drift, preserves resalable pieces, explains every deduction, and improves with settlement evidence.

A strong gold-buying protocol for jewelers ends before the furnace. By the time a scrap lot leaves the store, identity, consent, test limitations, payable weight, routing logic, pricing inputs, and legal controls should be documented. That discipline protects customer confidence while keeping repairable and collectible jewelry out of the melt stream.

The post Retail Guide to Separating Scrap Gold from Resalable Jewelry first appeared on Fefuse.

Charlotte Fournet to Lead Pomellato

Charlotte Fournet will assume leadership of Pomellato as the brand moves into a new phase of development. Her mandate focuses on reinforcing Pomellato’s authentic Milanese identity, enhancing retail performance and pursuing targeted distribution strategies that align with the maison’s luxury positioning. Maintaining the brand’s artisanal roots and design DNA will be central to her approach, alongside initiatives to strengthen customer experience both in-store and through digital channels.

Fournet brings over 14 years of expertise in luxury merchandising and product strategy. She began her career at Saint Laurent in 2014, later joining Gucci in 2019 and then Bottega Veneta in 2020. Most recently she served as Collection Merchandising Director at Bottega Veneta, where she oversaw merchandising strategy across jewellery, accessories, leather goods and ready-to-wear categories. Her background positions her to align product architecture, assortment planning and visual merchandising with Pomellato’s signature craftsmanship and design-driven offerings.

At Pomellato, Fournet will be tasked with optimizing the merchandise mix and strengthening the retail network to better reflect the maison’s premium status in key markets. She will also play a pivotal role in coordinating cross-functional efforts between design, marketing and retail teams to deliver cohesive brand experiences that resonate with both existing clients and new audiences.

Krizia Cucurachi Takes the Helm at DoDo

Krizia Cucurachi will lead DoDo with a strategic focus on expanding the brand’s reach in gifting jewellery, enhancing customer engagement and growing presence in Italy and selected international markets. Her role will emphasize the development of accessible, emotionally resonant collections and the strengthening of DoDo’s brand narrative across channels.

Cucurachi joined DoDo in 2024 as Global Product and Brand Director, where she managed product development, brand image, communications, events, visual merchandising and media. Her responsibilities encompassed shaping product narratives and ensuring consistent brand presentation across touchpoints—a strong foundation for her new CEO responsibilities.

Her prior experience includes more than a decade at Swarovski in senior leadership roles, as well as earlier marketing positions at L’Oréal and Lindt & Sprüngli. With over 16 years of international experience in jewellery and consumer brands, Cucurachi brings a broad perspective on brand building, retail activation and consumer engagement strategies tailored to diverse markets.

In her capacity as CEO of DoDo, Cucurachi will focus on strengthening the maison’s gifting proposition and improving engagement across both physical and digital platforms. She will also be responsible for refining product assortments and campaigns that cater to DoDo’s audience while preserving the brand’s playful and approachable identity.

These leadership changes aim to bolster Kering Jewelry’s management structure as the group looks to unlock additional international potential for Pomellato and DoDo. By appointing executives with deep merchandising, product and brand experience, Kering seeks to combine clear strategic direction with respect for each maison’s signature identity. Both appointments underline a commitment to sustainable growth: enhancing product excellence, refining customer journeys and expanding selective distribution to reinforce market positioning while safeguarding the unique heritage of each brand.

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Both pieces were created especially to commemorate CIBJO’s Centenary Year and will be donated to the permanent collection of the Museo del Gioiello, located within Vicenza’s historic Basilica Palladiana. Their inclusion in the museum collection ensures the works will be preserved as part of the ongoing story of jewellery, design and craftsmanship.

A Diamond as CIBJO’s ‘North Star’

The first work, titled “The CIBJO Centenary Icon,” is a circular painting that draws on the Renaissance tondo format. At its center sits a marquise- or navette-cut diamond, set within a broad field of liquid gold tones. The composition balances classical formality with contemporary symbolism, using light and metallic texture to direct the viewer’s gaze toward the gemstone.

Ahluwalia refers to the central gemstone as the “Diamond Eye.” In her conception, this gem functions as a visual metaphor for CIBJO’s role in protecting the jewellery sector, promoting international standards, and guiding the industry through periods of change. The diamond’s clarity and geometry suggest a navigational vision—like a North Star—that calls for constant recalibration to maintain trust, transparency and consumer confidence across the global jewellery supply chain.

Centenary Celebrated in Gold

The second creation, “The CIBJO Centenary Medal,” is conceived as a numismatic piece that marries medallion tradition with contemporary jewellery aesthetics. One face displays the CIBJO Congress logo above the table of a round, faceted diamond. The reverse side presents a compass motif, linking the piece’s iconography to ideas of direction, governance and moral guidance within the trade.

The compass motif embodies CIBJO’s mission to steer the international jewellery industry by championing principles of ethics, integrity and standards. A solid-gold edition of the medal has been produced specifically for the congress by the Arezzo-based precious metals refinery Italpreziosi, adding a material resonance to the symbolic message and creating a tangible keepsake for the centenary celebrations.

Reena Ahluwalia’s Art Meets Jewellery

Toronto-based Reena Ahluwalia is known for integrating precious stones into contemporary artworks and wearable pieces. Her practice bridges jewellery design, fine art and emerging technologies, and she has previously achieved recognition for placing gemstone-centered work in prominent institutional collections.

Her portfolio includes a diverse range of commissions and accolades: designs incorporating diamonds into ceremonial and public objects, philatelic recognition, industry honors and record-setting timepieces. Ahluwalia has also been an early adopter of digital tools in the field, experimenting with blockchain technology to create immutable provenance records that document the history and ownership of diamond art.

Art Preserving a Century of Jewellery Heritage

CIBJO President Gaetano Cavalieri has highlighted how the collaboration with Ahluwalia naturally connects jewellery and artistic expression, noting that both disciplines celebrate human creativity and the poetic use of nature’s most precious materials. The artworks are intended not just as commemorative objects but as cultural artifacts that reflect shared values across the jewellery community.

For Ahluwalia, both pieces function as a visual archive of the jewellery sector’s collective heritage. Their installation in the Museo del Gioiello will make the Centenary tangible and accessible to future generations, linking CIBJO’s institutional history with the continuing evolution of design, craft and ethical practice in the jewellery world.

By entering the museum’s permanent collection, the artworks will provide a lasting artistic legacy for CIBJO’s 100-year milestone, illustrating how craft, creativity and governance in the jewellery industry can be commemorated through enduring artistic expression.

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Abu Jani and Sandeep Khosla Launch Iconic Jewels Collection with Dimple Kapadia

Indian couture stalwarts Abu Jani and Sandeep Khosla are extending their creative universe into fine jewellery with the launch of Iconic Jewels, their debut jewellery label. The campaign and the launch film are led by veteran actor Dimple Kapadia, whose long-standing collaboration with the designers underscores the collection’s connection to their couture heritage.

Unveiled as the duo celebrates 40 years in fashion, the Iconic Jewels collection translates the designers’ signature maximalism and meticulous craftsmanship into jewellery. The debut season is organised into four distinct lines—Abad, Roshnai, Talismati and Junoon—each reflecting a different facet of the designers’ aesthetic while sharing a commitment to artisanal detail and luxurious materials.

The pieces are crafted in 18-carat gold and incorporate diamonds and pearls alongside an array of coloured gemstones. Notable stones include Zambian emeralds, Mozambique rubies and multicoloured sapphires, chosen for their depth of colour and complement to the collection’s bold forms. Together, these materials create compositions that balance opulence with refined craftsmanship.

Design inspiration for Iconic Jewels draws directly from India’s rich textile and craft traditions. Elements associated with Patola embroidery and Chikankari have been reinterpreted in precious metals and stones, so that familiar motifs and textures from fabric translate into engraved surfaces, delicate lattice work and intricately set gems. This approach allows the jewellery to feel both contemporary and deeply rooted in traditional techniques.

Among the standout pieces is a dramatic dragon cuff, designed to coil elegantly around the forearm and act as a definitive statement piece. Other items across the four lines range from intricately detailed necklaces and earrings to rings that combine sculptural form with the fine finish expected of high jewellery. Across the collection, there is a clear intent to create objects that function as personal signatures for the wearer.

For Abu Jani and Sandeep Khosla, the move into jewellery is presented as a natural extension of couture, where garments and ornaments together complete a language of self-expression. The designers describe jewellery as a way for individuals to communicate personality and taste, with each piece offering a way to make a confident, personal statement.

Dimple Kapadia’s role as the face of Iconic Jewels reinforces the collection’s emphasis on timeless beauty. Her association with the designers dates back decades, beginning when she modelled for their inaugural Chikankari collection in 1993. Her presence in the campaign and film brings a continuity of creative partnership and a lived sense of the brand’s aesthetic.

The full Iconic Jewels collection is available at Mubarak Baug, the designers’ recently opened flagship in South Mumbai. Within the boutique, the pieces are showcased in “The Vault,” a geometric installation inspired by the forms of a diamond and principles of gem cutting. This display concept is intended to reflect the clarity, precision and brilliance of the jewellery while providing an architectural setting that complements the collection’s sculptural qualities.

With Iconic Jewels, Abu Jani Sandeep Khosla position their established couture identity within a new luxury category, bringing together Indian craftsmanship, high-jewellery materials and bold design. The debut collection signals a continued evolution of their creative practice, offering finely crafted pieces that marry heritage motifs with contemporary jewellery making.

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For the couple’s private civil ceremony in Cascais on 11 August, the Spanish-Argentine model and television personality selected the diamond suite from Chopard. The six-piece high-jewellery set originates from a single extraordinary rough stone: a 342-carat diamond recovered in 2015 from Lucara’s Karowe mine in Botswana. That rough gem, named the Queen of Kalahari, was graded Type IIa and D-colour, with a flawless clarity — attributes that place it among the rarest and most valuable natural diamonds.

Chopard acquired the rough stone and oversaw its transformation into a collection of 23 polished diamonds. Among those polished gems are five major stones each weighing more than 20 carats. The centerpiece of the Queen of Kalahari suite is a 50-carat diamond, mounted as the pendant of a sunflower-inspired necklace. Rodríguez complemented that striking necklace with matching diamond earrings, which created a powerful contrast against her minimalist white Gucci bridal outfit.

The full six-piece ensemble includes a convertible necklace, a pair of earrings, a cuff bracelet, two rings and a discreet watch integrated into the bracelet design. The set is notable not only for its scale and the quality of the diamonds, but also for the versatility of the pieces — the convertible necklace and the watch-hidden-in-the-bracelet speak to contemporary design that balances glamour with practical elegance. Industry estimates value the suite at around $75 million, reflecting both the rarity of the stones and the high level of artisanal work involved.

Rodríguez, 32, is a Chopard brand ambassador and is reported to have worn the collection on loan for the private ceremony. Her choice to showcase a major high-jewellery creation in such a personal moment put Chopard’s Queen of Kalahari project back into the international spotlight, demonstrating how a single extraordinary rough diamond can become a multi-piece collection worn on a global stage.

Cristiano Ronaldo, 41, remains one of the most recognised figures in sport. His club career has included high-profile spells with Sporting CP, Manchester United, Real Madrid and Juventus, and he is the long-time captain of Portugal’s national team. Forbes has estimated his net worth at approximately $1.2 billion, a figure that places him among the wealthiest athletes in the world. The couple’s wedding thus combined two powerful public profiles with a rare display of high jewellery, generating wide media interest.

Beyond celebrity headlines, the Queen of Kalahari story highlights several facets of the modern jewellery world: the sourcing and traceability of large natural diamonds, the technical and creative processes that turn a single rough stone into multiple polished gems, and the luxury sector’s capacity to present heritage craftsmanship in contemporary, wearable forms. From the remote geology of Botswana’s Karowe mine to Chopard’s design and finishing workshops, the journey of the 342-carat rough diamond into a 50-carat signature stone illustrates the interplay of natural rarity and human skill.

The wedding moment in Cascais therefore did more than spotlight a glamorous accessory; it underscored how exceptional natural diamonds are curated and celebrated today. The Queen of Kalahari set combines rarity, meticulous workmanship and modern aesthetics, and the decision to lend the collection for a private civil ceremony brought a major high-jewellery narrative to a personal, public occasion.

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According to Thanh Hoa provincial police, PNJ maintained full and proper import documentation for its diamond purchases. The authorities concluded that the company’s internal distribution processes were controlled and compliant with applicable regulations. These findings contrast with broader allegations in the ongoing inquiry, which suggest that more than 30,000 diamonds, with an estimated value exceeding 1.5 trillion Vietnamese dong (about $57 million), may have been smuggled into Vietnam over a two-year period.

News of the probe and the resulting uncertainty rippled across Vietnam’s gemstone and jewellery market. Worries about the authenticity, certification and legal provenance of diamonds prompted several retailers to pause sales temporarily, while some consumers sought refunds or opted to sell stones at large discounts. Those market disruptions highlighted how sensitive consumer confidence is to concerns about supply chain integrity and certification credibility in the diamond sector.

Following the police statement clearing PNJ of direct involvement, PNJ’s share price reacted strongly in Hanoi stock trading, rising to the daily cap of 7 percent and moving toward its highest close in roughly a month. Despite that recovery, the stock still trades notably below the level it held before details of the investigation became public in early July, reflecting lingering investor caution as the broader inquiry continues.

While PNJ as a company was not accused of wrongdoing, investigators have implicated two individuals linked to PNJ’s fully owned gem-certification arm, PNJ Laboratory Co. The former director of the laboratory, Dang Ngoc Thao, and a laboratory staff member, Tran Tien Nhu Nghi, are alleged to have collaborated with foreign nationals to bring diamonds into Vietnam from Hong Kong outside official channels, reportedly for personal financial gain.

Police allege that Thao purchased smuggled diamonds and attempted to conceal their origins by altering identifying features. Specifically, investigators claim he removed GIA laser inscriptions from some stones, re-engraved them with PNJ Laboratory identification numbers, and issued replacement certificates. According to the police account, those modified diamonds were subsequently sold, with proceeds benefiting the individuals involved rather than the company.

Crucially for PNJ’s retail operations, authorities indicated the diamonds alleged to be smuggled were not introduced into PNJ’s retail sales network. Instead, the police say the proceeds from these transactions went directly to the individuals accused. That distinction was central to the police finding that PNJ itself had complied with import and distribution regulations.

Nevertheless, the case has exposed weaknesses in Vietnam’s broader diamond certification and trading ecosystem. The controversy has intensified calls for stronger controls on gemstone origins, more rigorous certification processes, and clearer labelling standards. In response, officials plan a month-long inspection of the country’s gemstone and precious-metals markets to review provenance documentation, testing procedures and compliance with regulatory requirements.

For customers and investors, PNJ’s clearance alleviates some immediate concerns, but it does not bring the wider investigation to a close. Police have stated they will continue probing other individuals and businesses thought to be connected to the alleged smuggling network, and further developments are possible as inquiries proceed.

Looking ahead, the episode may prompt meaningful changes across Vietnam’s jewellery industry. Greater emphasis on traceability, routine independent certification, tighter internal controls at laboratories, and enhanced regulatory oversight could emerge as priorities to rebuild trust and ensure that diamonds sold in the domestic market have transparent, verifiable origins. Such measures would aim to protect consumers and strengthen the long-term credibility of Vietnam’s diamond and jewellery sector.

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Occupying more than 1,000 sq ft within the flagship store, the Platinum Experience Zone brings multiple platinum collections and price points together under one roof. The format aims to serve a variety of shopper needs—everyday styling, gifting, commemorations and relationship-led purchases—while helping customers discover how platinum fits into contemporary wardrobes and lifestyles. According to Kalamandir, this concentrated retail environment is intended to educate and inspire customers through curated product selection, thoughtful design and personalized service.

The Vadodara zone includes offerings from established lines such as Men of Platinum, Platinum Evara and Platinum Love Bands, encompassing chains, bracelets, kadas, neckpieces, bangles and couple bands. By presenting these collections side by side, Kalamandir seeks to communicate platinum’s range—from minimal, everyday staples to meaningful, symbolic pieces—so shoppers can compare styles, weights and price points within a single destination.

This new flagship marks an expansion of Kalamandir’s Platinum Experience Zone concept, which the brand has already implemented across several stores. The retailer’s earlier rollout included a dedicated platinum space in Ahmedabad and other locations; the Vadodara installation represents the largest and most extensive iteration to date. The company frames the investment as a response to evolving consumer behavior, particularly among younger buyers who favor experiential retail and informed decision-making over traditional, transactional encounters.

Kalamandir’s leadership emphasizes that the Platinum Experience Zone is shaped around contemporary shopper expectations. Milan Shah, Director of Kalamandir Jewellers, notes the importance of combining modern design with tailored service to make platinum purchases more accessible and relevant. Instead of a conventional display counter, the zone encourages exploration—allowing customers to try on pieces, compare finishes and consult with specialists about design, fit and long-term care.

The physical design of the space has been deliberately crafted to reflect the distinct qualities of platinum. Clean architectural lines, premium finishes and a subtle palette inspired by platinum’s tone help create a focused atmosphere within the larger showroom. Accent lighting and thoughtful merchandising highlight the metal’s unique sheen and craftsmanship, reinforcing the category’s separate identity while maintaining cohesion with Kalamandir’s broader retail environment.

From the perspective of category development, the launch aligns with efforts by industry organizations such as Platinum Guild International to raise consumer awareness about platinum through education, design and retail experiences. Vaishali Banerjee, Head of Global Market Development and Managing Director – India & Middle East at PGI, has described such retailer investments as important steps in making platinum more accessible and engaging for younger demographics. The Vadodara opening is positioned as part of that wider movement toward experiential retail that helps buyers make informed choices.

The Vadodara Platinum Experience Zone also highlights a broader shift across jewellery retail: consumers are seeking curated, category-specific environments where they can learn, compare and connect with products on a deeper level. Rather than simply presenting items behind glass, modern jewellery spaces emphasize interaction, storytelling and customization options. Kalamandir’s approach—bringing multiple collections and price tiers into a single, well-designed zone—offers a practical example of how a premium metal like platinum can be presented to support discovery and purchase confidence.

Looking ahead, the new flagship in Vadodara positions Kalamandir to continue growing platinum visibility in Gujarat and beyond by blending product variety, retail design and customer education. For shoppers exploring platinum jewellery, the zone aims to be a destination where informed choices and personal style converge, making the metal a compelling option for both everyday wear and significant life moments.

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GJEPC Welcomes Tax Reform to Boost India’s Role in Rough Diamond Trade

Senior leadership from the Gem & Jewellery Export Promotion Council (GJEPC) met with Union Finance Minister Smt. Nirmala Sitharaman in New Delhi on 17 August to express appreciation for a significant tax reform aimed at strengthening India’s position in the international rough diamond market. The meeting underscored the industry’s support for policy measures that increase competitiveness, reduce tax-related uncertainty, and encourage global trade activity through India.

Key Representatives and Purpose of the Meeting

GJEPC Chairman Kirit Bhansali and Vice Chairman Shaunak Parikh, joined by K.K. Duggal, Director – Trade & Policy, thanked the Finance Minister for the recently enacted Taxation and Other Laws (Amendment) Bill, 2026. The delegation highlighted how the new law introduces a full income-tax exemption for eligible foreign companies that sell rough diamonds via India’s Special Notified Zones (SNZs). This engagement was aimed at acknowledging the reform and discussing its implications for industry stakeholders.

Details of the Tax Exemption

Under the enacted provision, eligible foreign entities will benefit from a complete income-tax exemption on income derived from the sale of rough diamonds conducted through designated SNZs. The exemption is set to take effect from 1 October 2026 and will remain in force until 31 March 2041, effectively providing a 15-year window of statutory tax certainty. This multi-year horizon is intended to give international businesses the confidence to plan and commit resources to India-based transactions.

Who Stands to Benefit

The reform covers a wide spectrum of global participants in the rough diamond ecosystem, including mining companies, sightholders, brokers, aggregators, and firms involved in diamond tenders and auctions. By reducing ambiguities around tax obligations, the measure aims to attract more direct trading activity to India, enabling international players to conduct rough diamond transactions with predictable tax treatment and greater operational certainty.

Strategic Importance for India’s Diamond Industry

India already commands a dominant share of the global diamond cutting and polishing industry. The new tax framework is viewed by GJEPC as a strategic enabler for India to expand its role beyond manufacturing and evolve into a major international marketplace for rough diamonds. Encouraging direct purchase and sale of rough stones in India could deepen the country’s integration into the upstream segments of the global value chain and create additional opportunities across related domestic sectors, including logistics, finance, and trade services.

Industry Perspective and Long-Term Impact

The Council has long advocated for greater tax certainty for overseas rough diamond traders. GJEPC regards the 15-year exemption as a potentially transformative policy that could rewrite market dynamics by drawing more global participants to transact through India. Greater trading volumes and increased international presence could translate to enhanced market liquidity, improved price discovery mechanisms, and the attraction of supporting services that together bolster India’s competitive positioning in the global gems and jewellery landscape.

Next Steps and Industry Engagement

During the meeting, GJEPC leadership extended an invitation to Finance Minister Smt. Sitharaman to attend the India Gems & Jewellery Award (IGJA) ceremony, reinforcing ongoing collaboration between policymakers and industry stakeholders. Moving forward, GJEPC expects to work closely with government authorities and market participants to ensure smooth implementation of the SNZ framework and to promote India as a preferred venue for rough diamond trading.

Outlook

With the new tax provisions in place, the industry anticipates a gradual shift of international rough diamond flows toward India. If implementation proceeds as intended, India could fortify its ambition to become a global hub not only for manufacturing but also for the trading of rough diamonds, thereby enhancing value creation across the country’s gems and jewellery sector.

The post GJEPC Hails Landmark Tax Reform That Boosts Indias Rough Diamond Trade first appeared on Fefuse.

Management attributed the improvement to a combination of new product launches, continued expansion of the retail footprint and strong momentum in Latin America and Asia-Pacific. Profitability benefited in the quarter from a one-off refund related to US tariffs, which supported operating performance despite ongoing cost pressures.

Lab-Grown Diamond Demand Under Pressure

The most significant weakness in the quarter came from Pandora’s lab-grown diamond range. Sales in this category fell by 20%, with the company reporting particularly subdued consumer appetite for larger, higher-priced pieces in the $1,000–$1,500 range. This decline highlights the difficulty of translating interest in lab-grown stones into purchases at premium price points.

In response to this shift in consumer preferences, Pandora plans to reposition its lab-grown diamond assortment toward a more accessible price bracket of roughly $250 to $500. The company emphasised that the category remains relatively small, contributing no more than 1% of group earnings, yet it represents an important strategic experiment in offering alternative diamond products since Pandora has used only lab-grown diamonds in its diamond jewellery range beginning in 2021.

The current pullback in demand for high-ticket lab-grown pieces is an important signal for the broader industry and for Pandora’s product strategy. It suggests that while lab-grown diamonds attract attention, consumers in many markets still prefer lower-priced pieces or remain cautious about trading up to more expensive new categories. Pandora’s decision to shift the assortment toward affordability aims to broaden appeal and drive trial among price-conscious shoppers.

Profitability Improves

Pandora reported operating profit of DKK 1.46 billion (approximately $225 million) in the quarter, up from DKK 1.29 billion a year earlier. Net profit rose to DKK 875 million (about $135 million), compared with DKK 803 million in the second quarter of the previous year. These gains were supported by the tariff refund and ongoing retail and product initiatives.

On an underlying basis, excluding the one-time US tariff refund, the EBIT margin remained broadly stable. The company continues to navigate cost headwinds from commodity prices, currency fluctuations and tariff exposure. Despite these pressures, Pandora’s management said the quarter showed early signs that efforts to revive growth are starting to take effect.

“We are making progress in re-energizing Pandora’s growth engine,” President and CEO Berta de Pablos-Barbier commented, referencing the 1% like-for-like growth and initial positive impacts from recent strategic initiatives. The leadership highlighted product assortment refreshes and selective retail expansion as key contributors to the quarter’s performance.

2026 Outlook Raised

Reflecting improving momentum, Pandora raised its organic growth guidance for 2026 to a range of 0% to 3%, up from the prior outlook of negative 1% to 2%. The revised forecast signals cautious optimism driven by better-than-expected performance in core markets and confidence that ongoing initiatives will support recovery.

At the same time, the sharp decline in lab-grown diamond sales underscores a strategic challenge: how to convert consumer interest in sustainable or lab-created stones into demand for higher-value jewellery. For Pandora, the next phase will involve balancing its broader jewellery growth strategy with a repositioned, more affordable lab-grown diamond offering aimed at attracting value-driven customers.

Moving forward, Pandora’s focus appears to be on refining product price architecture, continuing selective store openings, and leveraging market-specific opportunities in Latin America and Asia-Pacific to drive volume. The company’s performance in the quarter suggests measured progress rather than a full recovery, with management signalling that sustained momentum will depend on successful execution of these initiatives and the market’s response to the adjusted lab-grown diamond strategy.

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The recent recovery in the luxury watch market has exposed a notable weakness in Richemont’s portfolio: Panerai is not participating in the renewed demand that is boosting several of its peers. While the broader secondary market gains momentum, Panerai’s price performance and trading activity remain subdued compared with other Richemont brands.

Once celebrated for its oversized cases and military-inspired heritage, the Italian-born Swiss maker has struggled to attract the same buyer enthusiasm seen for competitors. Secondary-market data indicates that Panerai’s volumes have lagged behind, and trading activity has shown little improvement since early 2024, even as brands like Cartier and Vacheron Constantin register stronger interest.

Market indices and sales platforms confirm the wider rebound. The Bloomberg Subdial Watch Index records the strongest gains since 2022, and EveryWatch reports a sharp uptick in traded value, with watches sold in the first half of the year rising more than 37% to $10.5 billion. In that wider context, Panerai stands out for moving against the prevailing trend.

Pricing data for Panerai reflects that divergence. According to Subdial figures, the average price of a Panerai watch was roughly 8% lower in April 2026 than it was in January 2024. By contrast, many other Richemont names have seen meaningful price appreciation over the same period: Piaget has climbed over 30%, Jaeger-LeCoultre around 24%, and Vacheron Constantin about 13%, with Cartier and IWC also posting gains.

This underperformance points to a deeper question about Panerai’s fit with current luxury-watch preferences. The brand’s identity has long revolved around bold, large-format designs—exemplified by the Luminor and Radiomir models—that helped popularize oversized timepieces during the boom of the late 1990s and 2000s. Those strong, distinctive cues are part of what made Panerai famous, but they may now clash with shifting tastes.

Contemporary buyers increasingly favor smaller case sizes, subtler styling and watches that offer stronger jewelry appeal. These evolving preferences have benefited brands with refined aesthetics, pushing demand away from more overtly masculine or utilitarian designs. As a result, Panerai’s aesthetic positioning appears less aligned with the market that is driving the current secondary-market recovery.

The disconnect matters for Richemont because its watch division overall is performing well. Specialist watchmakers within the group reported approximately 8% sales growth recently, with Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne among the standout performers. Richemont is also actively reshaping its watch brand mix—for example, through the planned sale of Baume & Mercier to Italy’s Damiani Group—making the clarity and competitiveness of each brand increasingly important.

Panerai’s persistent weakness could therefore intensify internal debate about the brand’s strategic direction and future role within the conglomerate. The challenge facing Panerai is not only to weather a cyclical downturn but to respond to a structural shift in consumer preferences. With buyers gravitating toward different designs and categories, Panerai must weigh whether to evolve its product offering or risk falling further behind.

Ultimately, the key question is whether Panerai can reinvent its appeal while retaining the distinctive oversized identity that defines it. Any successful repositioning would need to balance respect for the brand’s heritage with design, sizing and positioning choices that resonate with today’s buyers. Until Panerai finds that balance, it may struggle to capture its share of the renewed demand lifting much of the rest of the luxury watch market.

The post Panerai’s Slow Comeback Amid Luxury Watch Market Recovery first appeared on Fefuse.