In ’08, diamonds lost their luster
Wed, Jan 7, 2009
Diamond Investing News reports diamond was hit hard after the financial crisis in 2008.
This rapid change hit the diamond market hard. In the retail sector, prices dropped drastically, as demand came to a stand still. Companies were forced to sell their products at a loss and many household names went bust. The House of Taylor lost the license to its brand name and acknowledged an $11.2 million debt when it entered into a peaceful possession of collateral with New Stream Secured Capital.
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