Off the Wall

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Switzerland's Swatch firm is to source small diamonds in India to meet an official condition of 30 percent local sourcing for foreign firms which have a single retail brand. Swatch is seeking a government permit to establish stores in the sub-continent.

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Panama Diamond Exchange President Erez Akerman is visiting Israel and India over the next two weeks to meet members of the diamond trades to discuss  opportunities available in the Panama Gem & Jewelry Center, Latin America's first dedicated diamond, colored gemstone and jewelry trading complex, which currently is under construction in Panama City.

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The American luxury brand said that it is offering the 24K gold iPhone 6 with a pink diamond set in the reverse side for $48.5 million just one day after Apple announced the launch of the iPhone 6.

The cellphone by Falcon enables the pink radiant-cut diamond to be prominently seen while users are talking on the phone.

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India’s Gem & Jewellery Export Promotion Council (GJEPC) and state-owned Russian diamond mining firm Alrosa signed a memorandum of understanding to share trade and statistical data on the diamond trade between the two countries.

The sides describe it as a significant step towards greater direct diamond trade between the two countries. The MoU was signed by GJEPC Chairman Vipul Shah and Alrosa President Fyodor Andreev. 

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Blue Nile, Inc., the online retailer of diamonds and fine jewelry, posted a net sales increase of 10.1 percent to $98.9 million for the third quarter ended September 29.
 
U.S. engagement net sales for the third quarter increased 7.1 percent to $57.9 million. U.S. non-engagement net sales for the third quarter rose 9.6 percent to $23.9 million.
 

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A pair of diamond-set shoes modeled on a Rolls Royce have been created by Chinese designer Chris Lu and are on sale at a shop in Guangzhou in China for US$5,320.

The high-heeled sling back shoes are completely covered in diamonds, while the toe caps are made to resemble the grille of the famous car.