GIA to Close Antwerp Branch Next Month

RAPAPORT... The Gemological Institute of America (GIA) will shutter its Antwerp laboratory on July 31 in response to dwindling demand, the organization confirmed to Rapaport News.It informed clients of the closure earlier this week, a GIA spokesperson said Wednesday. Customers will still be able to send submissions to other GIA laboratories using Malca-Amit's shipping services, he added."This is an operational decision based on the limited demand for services and financial performance that did not support continued operations," the spokesperson explained. Among the main functions of the Antwerp branch is the evaluation of rough for diamond-origin reports and consultation services for large stones. These activities remained even after a scaling-down of the branch since the start of Covid-19.In 2020, the institute carried out a review of its operations in the city and decided to reduce its activity to a limited list of services because of market conditions and the impact of the pandemic. Only two years earlier, the GIA had expanded its business in Antwerp by introducing diamond grading.Image: GIA-graded diamonds. (Shutterstock)