Summary of our market study

The diamond market is an essential segment of the jewelry sector.

The industry anticipates a decline in diamond production due to resource scarcity, which could fall by 30% between 2020 and 2030.

The market is seeing an increase in synthetic diamonds.

ISO 24016 standards have been introduced to create consistency in the certification of cut diamonds, updating international 4C standards and establishing clear terminologies.

French national regulations, such as decree no. 2002-65 and the "Sapin II" law, maintain strict rules on the trade and labeling of gemstones and diamonds, distinguishing between natural and synthetic diamonds.

preference trends and import dynamics on the French diamond market

The French jewelry market is a crucial part of the overall luxury goods sector, and diamonds play a role in its success. French consumers have historically shown a preference for diamond jewelry as a timeless piece.

Between 5 and 6 million French women own gold or platinum jewelry with diamonds. Diamond rings account for 30 to 40% of the diamond jewelry market. Next come pendants, necklaces and earrings.

Women who wear precious jewelry have become a minority.

France is a net importer of diamonds. The country imports unsorted diamonds, as well as industrial diamonds, worked or not, but not mounted or set.

These imports are essential to satisfy domestic demand, particularly from small workshops and luxury houses renowned for their exceptional expertise and prestigious market positioning.

Diamond market players

Alrosa, Russia's diamond giant with rich mines in the Urals and Yakutia, the world's leading diamond mining company.
De Beers, undisputed world leader in the sector
Rio Tinto: based in the UK, one of the world's leading mining companies
Petra Diamonds, the UK's smallest diamond producer.
Thom Europe, Europe's leading jewelry retailer. With the acquisition of Stroili and Oro Vivo, Thom Europe consolidates its position in the diamond retail market.
Cartier and Bulgari, now part of the vast LVMH luxury group, are the beacons of high-end jewelry.

the diamond market - France

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Number of pages : ~ 40 pages
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Last update : 23/11/2020

Summary and extracts

1 Market overview

1.1 Presentation and definition of the diamond market

The diamond is a brilliant, hard, usually colourless, hard precious stone that can take the form of a jewellery diamond or an industrial diamond. The diamond market is a sub-segment of the jewellery market which has changed significantly following the acquisitions of the major luxury goods players who participated in the concentration of the sector.

The world diamond market represents more than $70 billion and in France, the figures lack precision because of a certain market opacity . However, the diamond market accounts for a significant share of the jewellery market, up to more than a third of this market. It should be noted that diamonds are an indissociable element of the jewellery market as they contribute to generating traffic in stores and to conveying a prestigious image that encourages consumers to buy.

Diamond dealers work in workshops integrated into the companies of trading or in small workshops (about ten specialized craftsmen in France). In France, 80% of diamond manufacturing is carried out by craftsmen with fewer than 10 employees: the market is therefore very small nuked . This is a niche business with a high level of know-how.

The luxury groups began a strategy of buying up jewellery houses in the mid-1990s and consequently a phenomenon of concentration. Thus, LVMH, a major player in the luxury sector, bought Fred, Chaumet and Bulgari. The strategy of the major groups consists in integrating the most value internally, including the know-how of the diamond dealers.

Faced with the strong competition represented by the players indian and Israeli French companies are relying on original creations and on the very high end. France can rely on an image of quality and prestige conveyed by the great luxury houses and renowned boutiques on Place Vendôme.

2 Demand Analysis

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