The sanctions against the Russian diamonds now have the diamond trade at the centre of the war, and could send jewellery companies reeling.

A handful of small boutique jewellery companies have recently been focussing on custom pieces that repurpose gemstones, as shoppers look to redesign jewellery they already own or have inherited.

Signet Jewellers Ltd. on Thursday reported fiscal second-quarter net income of $81.9 million.