As CIBJO, the World Jewellery Confederation, prepares to conclude its centenary celebrations at
From CIBJO’s historic ties with France and Italy to record gold prices and the transformation of the natural diamond market, he shares his vision of an industry facing profound economic change. For European jewellery brands and manufacturers, his message is clear: craftsmanship, creativity and strong branding are more essential than ever to preserve value and desirability.
Dr. Cavalieri, CIBJO is celebrating its 100th anniversary this year. Could you introduce the history and core mission of CIBJO to our readers?
CIBJO is the world’s oldest international jewellery trade association, founded in Paris in 1926 as BIBOA to represent the jewellery trade in Europe. It was restructured as CIBJO in 1961, with a global rather than continental focus.
The World Jewellery Confederation (CIBJO) is an association of national and international jewellery associations, as well as commercial bodies, from about 45 countries.
CIBJO functions as the formal representative of the international jewellery sector, with members and observers from all the key mining, trading and manufacturing nations, covering the full distribution chain from the mine to the retail jeweller. Among our members are many of the industry’s most prominent brands and companies, as well as national associations representing millions of professionals and stakeholders.
Our status as the industry representative is formally recognized at the United Nations, where we are the industry’s sole representative in the Economic and Social Council (ECOSOC), as well as in other bodies including the OECD, the Global Compact and the European Union.
As President, what are today CIBJO’s main global actions in support of the jewellery industry? What are the benefits for the final consumer?
CIBJO deals with the topics that allow the many disparate parts of our industry to communicate and work together successfully, with the overriding objective of protecting consumer confidence in the industry and the products we manufacture and sell.
You can liken CIBJO to a parliament, where delegates represent their own constituents, debate issues and formulate policies and rules that are implemented across the industry.
The fruits of those discussions are the standards, operating principles and harmonized nomenclature that appear in our Blue Books and industry guides. Some have been transformed into ISO standards, while others form the basis of national laws and regulations are used by courts when settling disputes.
Twenty-five years ago, corporate social responsibility was essentially about ensuring that we did not negatively impact society or the environment. CIBJO helped broaden that understanding. Through our association with the United Nations, we advocated an approach in which the jewellery industry should proactively provide sustainable opportunities in the countries and regions where it operates. Today that philosophy has become dominant.
CIBJO chose Paris — the city where it was founded — to celebrate its centenary. What is the significance of France for CIBJO, both historically and today?
As I said, we originally were founded as a pan-European in Paris in 1926, which is why we began celebrations at the start of our Centenary Year in Paris in November 2025, when we held the CIBJO Congress in the French capital. We will conclude the Centenary year at Vicenzaoro, the leading Italian jewellery show, in September, again at a CIBJO Congress, which is being called the Centenary Congress.
The axis that stretches between France and Italy represents the heart, soul and engine driving the fine jewellery industry in Europe, and in many respects the entire world.
In the jewellery industry, Paris is best known as the headquarters of many of the sector’s most important luxury brands. While they cater mainly to the top percentile of consumers, they are our industry’s primary trendsetters, creating designs and concepts that inspire jewellery manufacturers around the world.
Through their commitment to marketing and advertising, they also help ensure that precious jewellery remains an aspirational purchase. In so many respects, they are keepers of our flame.
At a time when markets are facing strong volatility — especially with the sharp rise in gold prices — what opportunities and risks do you see for European manufacturers and brands?
There is opportunity and risk in almost any given situation. The almost unprecedented rise in the gold price underscores jewellery’s role as a storer of value on the one hand, while at the same time raising the cost of jewellery with high gold content, making it very difficult for retailers in particular to maintain price points.
In my opinion, European manufacturers and brands need to rest on the very things that have always set their jewellery part, top-quality design and craftsmanship as well as brilliant branding.
With fine jewellery, like high fashion – the whole is greater that the sum of its parts.
And what do I mean by that? In much of the jewellery industry, although we are acutely aware of the creative genius required to produce what we do, we still regard our products almost like commodities – as a function of the cost of the diamonds, gemstones, pearls and precious metals of which they are comprised. And we often communicate that tendency to our consumers, who will then negotiate the price of the item that they are considering buying based on what they understand the cost of its various component parts to be.
The leading brands do not do that. Although they are selling gold, platinum, diamonds, coloured gemstones, pearls and coral, they are also selling a dream, or a state of wellbeing. Their unmatched talent is optimising the intangible and unmeasurable elements of jewellery, which not only convince consumers that they have made a reasonable investment, but also make them feel good about themselves.
Clearly, most of us in the trade could not consider marketing budgets – certainly not in only real terms, but also not as a percentage of turnover – as do the brands. But what we do need to is consider marketing not only as means for driving business, but also as a tool for increasing added value. If we can internalise that understanding, then we will all benefit.
At the CIBJO-organized session during Vicenzaoro in January 2026, Industry expert Martin Rapaport discussed the decline in diamond prices. What is your perspective on the current state of the global diamond market?
The diamond market is in a state of flux, with a series of issues that need to be resolved before we get clarity. Some are geopolitical, including sanctions on Russian rough diamond sales and U.S. trade tariffs. This uncertainty is not good for business or consumer confidence.
Despite industry efforts to secure exemptions on U.S. imports where no domestic supply exists, ongoing uncertainty continues to undermine business and consumer confidence.
Another element generating uncertainty is the unresolved issue of De Beers’ future ownership. This is not to say that we expect an upheaval in the way the company is run, but simply that uncertainty about its future ownership makes people instinctively cautious.
And then, of course, there is the influence of laboratory-grown diamonds on natural polished diamond prices. It is essential that the link between the two product categories be broken. We must eliminate the strategy of using the same price list, even if laboratory-grown diamonds are substantially discounted.
They are two different categories. Synthetic diamonds have no production ceiling and can be produced on demand. That is not the case with natural stones: there is a finite number of natural diamonds flowing into the market.
With natural diamonds, higher demand for goods of limited supply will inevitably lead to higher prices.
The future of the natural diamond market has been a recurring topic at CIBJO and Vicenzaoro. We previously explored whether a new paradigm is emerging for the diamond jewellery market.
Dr. Gaetano Cavalieri has served as President of CIBJO, the World Jewellery Confederation, since 2001. A leading figure in the international jewellery industry, he has held several senior positions representing Italy in international trade. In 2026, he was appointed Grande Ufficiale (Grand Officer) of the Order of Merit of the Italian Republic, the country’s highest order of merit.
CIBJO celebrates its centenary at Vicenzaoro
CIBJO will conclude its centenary celebrations in Vicenza, Italy, where the CIBJO Centenary Congress will take place from September 4 to 7, 2026, during Vicenzaoro September. Hosted at the Fiera di Vicenza, the Congress will bring together leaders and experts from across the international jewellery, gemstone and precious metals industry to discuss some of the sector’s most pressing issues, from responsible sourcing and sustainability to artificial intelligence, geopolitics, diamonds, coloured gemstones and precious metals.
The event will take place alongside Vicenzaoro September 2026, held from September 4 to 8, one of the leading international meeting places for the global jewellery and goldsmith industry.
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