Designer Predicts 2011 Recovery For Sector

Published on 11/06/09

A jewellery designer has predicted that 2011 will be when the market recovers from the economic downturn, according to a source.

Roberto Coin told Reuters that he does not believe the current conditions will last forever, saying he expects 2009 to be the worst year for the sector.

He suggested that there could be improvement next year, though he added that any boost for the industry would be limited, lovers of pieces such as platinum diamond rings and diamond stud earrings may be interested to hear.

Mr Coin commented to the news provider at the Luxury Summit, which is being held in London: "I see a (2011) pickup around the world because the damage cannot go any further than in 2009 ... (2009) is the worst."

Earlier this week, Gareth Penny, managing director for De Beers, stated that he sees "positive signs" for the sector, with demand for rough diamonds picking up.