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Diamond manufacturers must use technology to react swiftly to changes in the market

One of the original founders of Sarine, Uzi Levami has a long history of founding high-tech companies. He was awarded the prestigious Israel Defense Award in 1992 by then President Chaim Herzog, for his endeavors on a development project for the Israel...

20 march 2017

A mined diamond can bring an extra depth to the significance of a jewellery piece

Award-winning designer Sarah Ho, was born in Hong Kong and grew up in Macau before moving to London to enrich her skills in design and gemmology. Sarah’s inspirational designs are a sentimental reflection of the different chapters in her life and her...

13 march 2017

‘I will run my chair in a very transparent, open fashion’ – KP Chairperson

Australia’s Robert Owen-Jones took over as this year’s Kimberley Process Chairperson amid tension between the civil society and the United Arab Emirates (UAE), which chaired the diamond watchdog last year. The civil society coalition boycotted UAE’s...

06 march 2017

Giving beauty to people as a gift

The ‘Kierge’ jewellery house is a large firm manufacturing and selling jewellery and is a famous Yakutian brand. Over its 23 years of experience, the company was repeatedly the winner of national and international contests like ‘The Recognition by St...

27 february 2017

IDE's Yoram Dvash: 2017 shaping up to be more positive

After a tough 2015, last year provided the diamond industry with more stability and 2017 could be even better, says Yoram Dvash, President of the Israel Diamond Exchange (IDE) and Vice-President of the World Federation of Diamond Bourses (WFDB). In this...

27 february 2017

Dull name, important task: generic marketing critical to industry's future

20 march 2017

How do I sell more diamonds, a diamond trader recently asked me. Why don't we see global promotion of diamond jewelry so that more diamonds are sold? How can diamonds compete with the latest iPhone, cute tablet or round-the-world trip? Does the younger generation, such as those born after 1980, regard diamond jewelry as a must-have item? Are we leaving the field open to manufacturers of lab-grown diamonds who can supply stones at lower prices while appealing to young people with claims of producing environmentally friendly goods not tainted by blood diamond issues and not dug out of the ground by allegedly wretched, oppressed and impoverished workers?

Synthetics: cheaper but more expensive

13 march 2017

Twenty-five percent. It is exactly by that amount you will pay less for a ‘mass-consumption’ natural diamond ring compared with minimum prices offered by vendors of synthetics.

The biggest and best International Diamond Week in Israel

06 march 2017

If there was element that wasn't missing from the Sixth International Diamond Week in Israel (IDWI) at the Israel Diamond Exchange's (IDE) trading hall held from February 13 to 16, it was action. Right from the opening, the IDE organized a wide range of activities in order to make a big impression on visitors – as well as via a big social media campaign which started a few months before the event. And its efforts were rewarded with some 400 buyers from 30 countries, including the United States, U.K., Germany, China and India, and over 200 diamond companies exhibiting from Israel and abroad who, together with many hundreds of guests, ensured that the trading hall was packed out for the week.

Is Branding a Smart Strategy or Expensive Exercise?

27 february 2017

Which items sell better – branded goods or generic items? For many years after the 2008 financial crash, the answer appeared to be overwhelmingly generic. The vast decline in wealth among huge numbers of people across the United States meant there was little money left for luxuries. The same was true across Europe. Indeed, so deep did the recession bite that consumers searched for generic for most items – from breakfast cereals and washing powder all the way up to jewelry and other so-called luxury items. And although the U.S. economy is in much better shape today, the tendency to look for generic items remains strong. Although unemployment has declined significantly, many workers still do not have the bargaining power to secure salary rises – meaning disposable income is pretty much static. Against that sort of background, companies are asking themselves if there is a point to launching new brands – and that applies to the diamond jewelry business as much as any other.

Non-governmental Trojan ponies

22 february 2017

In February, the International Grown Diamond Association (IGDA) has lived to be exactly one year old. However, there is no much fanfare audible - this modest jubilee has been slipped over by the industry media, regrettably. Because the birth of the IGDA has undoubtedly opened a new chapter in the history of the traditional diamond market. Maybe - the last chapter.

India stirred but not shaken by demonetisation

20 february 2017

It is more than two months since demonetisation of high-value currency notes in India took effect, but the resilient gems & jewellery industry, though stirred, stands strong and stoic in the face of adversity. Obviously, the luxury sector of which the gem & jewellery industry is part of would be the first sector to get hit due to discretionary consumer spending acutely affecting the retail market. Industry-wise, it is of course the SMEs (small & medium size enterprises) that have been negatively impacted as they trade with majorly small jewellery players in the unorganised players who deal in hard cash. It is reported that local demand for rough as well as polished diamonds declined in December indicating a 4.96% dip in rough imports. Even diamonds miners reported a slowdown in demand for lower-value rough (mostly imported by India) during the past 2 months, due to liquidity issues among SMEs.

From Siberia with love

13 february 2017

Hello, dear Keanu Reeves, writing to you is a simple Russian girl, Elena from a small town in Siberia. I'm a big fan of your creative work and always take delight every time I see your new film. And when I learned that you are going to play the leading part in the film named "Siberia" about illegal diamond trade in Russia, there was just no limit to my happiness. What a mercy it is that a great actor is to play in a film about my country! I am so overwhelmed that I decided to write this letter to you.

Self-harm

06 february 2017

All last year, the entire diamond industry was riveted to the scandal in the Kimberley Process (KP) - someone feeling indignation, some being puzzled, and some openly sympathizing. It was the first time in the history of KP that it was declared a boycott by non-governmental organizations (NGOs) within the Civil Society Coalition (CSC). Disagreed with the chairmanship of Dubai in KP, they put forward demands and did not stint on accusations. Against this background, various reflections on the activities and future of the Kimberley Process, which usually do not interest the average man in the street, once again hit the pages of international press. I hope no one of the industry stakeholders will get hurt if I will voice the well-known truth: When the chairmanship of Dubai in KP ceased and moved to Australia, the majority in the industry was relieved. It is not because the activities of the United Arab Emirates as Chairman of KP was not appreciated (on the contrary, many considered this period of KP existence to be one of the most effective), but simply because any conflict situation is exhausting and hampers constructive work in one way or another. However, these hopes for a peaceful life were premature. At the end of last week, CSC met for a regular closed meeting to discuss (according to the agenda, which is available at Rough&Polished) KP’s complete inefficiency and raise the question of delivering new ultimatums or completely withdrawing from this organization. We do not yet know what was the outcome of this meeting. But the fact is that this story seems less and less like an attempt to improve the activities of KP or the situation in the diamond trade in the UAE, while it looks more and more like a banal massive PR-campaign organized to achieve quite other goals.

Diamond de-industrialization

30 january 2017

Analysts are unanimous in asserting that public welfare in recent years has been growing across the world, saying that if this is so, demand for jewelry is growing as well. Meanwhile, diamond consumption and diamond prices are inexorably going south in the last few years. However, the market of luxury goods, including jewelry, does not show any significant fall, staying at the same level year after year. If jewelry demand is really growing, what are people buying instead of diamonds? For a long time, we have been passionately surveying the market of synthetic diamonds and its aggressive marketing. Against this background, we lost sight of another interesting market - the market of colored gemstones, which, seemingly staying in the shadows, demonstrates rapid growth. And the emergence of another strong player on the jewelry market makes the overall situation even more complicated and confusing.

Bain Report 2016: On the battle of moderate optimism against common sense

23 january 2017

Looking at the same glass, the optimist views it as half full and the pessimist as half empty. This saying always comes to my mind whenever I read Bain’s annual forecasts for the diamond market. "For the next three years, the supply of rough diamonds is expected to maintain a tight balance with demand. We expect demand for rough diamonds to recover from the recent downturn and return to a long-term growth trajectory of about 2 % to 5 % per year on average, relying on strong fundamentals in the US and the continued growth of the middle class in China and India," Bain predicts. The forecast for global rough diamond production is not questioned - it is based on production targets of mining companies, which are usually set for decades and not subject to major corrections. However, it is a much more baffling affair when it comes to predicting demand. Demand for steel, for example, is calculated proceeding from global targets for construction and machinery production. It is possible to figure out demand for gold with a certain degree of accuracy: at least half of this metal is used not for jewelry, but as an investment asset or a means of saving money. Demand for platinum group metals can be estimated even more precisely: half of these metals are used in the industry, cleaning, for example, exhaust gases in your car. But how to predict demand for diamonds, which are not suitable for anything other than jewelry? Buying a diamond always involves emotions, be it a finally matured decision to connect one’s life with another person or a sudden whim to buy a new piece of jewelry for one’s collection. How to predict emotions and measure them in money, if the coffee grounds and tarot cards are not yet officially recognized forecasting tools?

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