Carats.io raises $1.6 Million in first financing round

Carats.io, an Israeli blockchain startup in partnership with the Israel Diamond Exchange, has raised $1.6m (£1.1m) in its first funding round led by Net Capital Ventures, an Israeli venture capital fund. Carats.io is issuing the first digital coin backed by diamonds. The coin, Carat, which is 100% redeemable for diamonds,…

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Fancy colour diamond prices show stability

The Fancy Color Research Foundation (FCRF) has reported that fancy colour diamond prices showed stability in most categories in Q1 2018. The Fancy Color Diamond Index (FCDI) indicated an overall rise of 0.1% in Q1 2018 for fancy color diamonds across all sizes and saturations. Continuing their trend from 2017,…

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Retail consumer spending sees sharpest drop since 2012

Consumer spending has suffered its sharpest drop in six years, according to Visa’s latest consumer spending index. Spending in-store fell by 5.4% in April when compared to the same period last year, while overall consumer spending fell by 2%, matching March’s year-on-year figures. Online spending was also down by 0.1%.…

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Wet start to April dampens retail footfall

Footfall in April decreased by 3.3%, which is a significant decline compared to the 1.6% increase seen the previous year. New data from retail intelligence firm Springboard revealed that there has been no growth in footfall for any UK region for two consecutive months. Most regions saw a slower rate…

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De Beers successfully tracks first diamonds from mine to retail on blockchain

The De Beers Group has announced that it has successfully tracked 100 high-value diamonds along the value chain during the pilot of its industry blockchain platform. An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine,…

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Smartphone purchases account for 54% of UK retail transactions, study finds

Retail purchases made on smartphones have seen a 66% increase in Q1 of 2018 compared to Q4 2017 according to marketing technology company Criteo’s Global Commerce Review. The research also showed that mobile devices accounted for over half (54%) of retail transactions in the UK. Shopping apps are helping to…

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London Diamond Bourse announces ‘revitalised’ management board

Diamond trading association London Diamond Bourse has appointmented new staff to its council of management and its executive committee. The council of management appointments include: Katherine Chappell – Chappell has worked in the gemstone business for over 20 years. She emigrated to Canada as a child in 1965, settling in…

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Rising Middle East tension forces World Diamond Congress to cancel

The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have announced that due to rising tension in the Middle East, the World Diamond Congress has been cancelled. The 38th World Diamond Congress due to be held in Tel Aviv, Israel, from 19 to 21 June…

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Alrosa auctions 101 special-sized diamonds for $14.8m

The United Selling Organization (USO) of Alrosa has sold 101 special size rough diamonds with the total weight of 1751.1 carats. Total sales revenue for diamonds amounted to $14.8m (£10.9m). The diamond mining company invited 86 companies from the main world’s diamond trading hubs, including Hong Kong, Belgium, Israel, India…

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Voice on the High Street – Comfort Station

What is the backstory of the company? I first started Comfort Station back in 2000 just after having left the Ruskin School of Art in Oxford as a part-time way of funding my art practice. I started selling pieces I’d made at Portobello Market, five mins away from where I’d…

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