Dror Galili is Vice President, Business Development of the big-league global diamond group, Almod Diamonds, which owns the largest Caribbean retail chain, DI Diamonds International. He is also the Regional Director of its subsidiary, Almod Namibia. Dror Galili answered the questions posed by Veronica Novoselova, Rough&Polished African Bureau editor.

On which market do you usually sell your goods?

Our polished diamonds and jewelry are being sold through the retail chain stores of the company, Diamonds International, which operates over 100 stores in the Caribbean, Mexico, Belize, Honduras and Alaska.

Where are you getting rough from?

We are a proud sightholder with the Namibian Diamond Trading Company (NDTC) and we also purchase rough in the worldwide open market; of course all of the above is being done in accordance with the KP & SoW regulations and the Best Practice Principles. As a special note, we are very proud of operating a Namibian Diamond Factory in NAMIBIA and market Namibian manufactured diamonds through our international retail stores.

Did you succeed with your Christmas sales of your jewelry in America?

Yes, we are very happy that our Holiday sales of diamonds, jewelry and watches were very good.

At what point did you really feel an increase in your sales?

During the Holiday month of December 2009.

What was the price policy during Christmas and what are your plans for now?

Considering the downturn in the economy and our customers’ needs to be able to shop for their loved ones, we are offering a product mix of high and low ticket prices. As a whole, we are seeing more items being sold with a lower average sales price.

Could you please give us some comparative figures for 2008 and 2009?

All I can say is that our company is up in sales if we compare December 2008 to December 2009.

Do you have any privileges for jewelry companies in America? What can you say about taxes? How is the government supporting the jewelry industry?

In the USA, there are no special privileges to the best of my knowledge. We just work very hard as a team to stay ahead of the game.

What do you think if America will keep the position of the biggest jewelry consumer in the world?

I think that the Asian and Indian markets are increasing their share in the global market in terms of consumer sales, but in my opinion the USA will always have a leading role in the global diamond, jewelry and watches industries.

What is popular now? Which combinations of gold and gem stones are popular now among American women?

Customers want to get “more for their money”. For example, our in-house diamond brand, the Crown of Light, which is a unique diamond cut to which our company owns all patents and copyrights worldwide, is a big success. It offers the customers a unique diamond (90 facets modified round brilliant with the utmost brilliance and fire) and sets of diamond jewelry for competitive prices. In addition, impressive popular looks are a combination of diamonds with gems stones in white or yellow gold.

Is buying of investment stones popular among Americans?

From my experience, I think that customers still look at diamonds as an investment or as a way to commemorate a significant milestone in their lives.

In recent years, jewelry with synthetic diamonds turned quite popular. What is your opinion about that?

We are a diamond and jewelry company, so I am sorry but I think that natural diamonds are still most popular and we focus on selling natural diamonds. Personally, I believe in natural diamonds and not in synthetics.

What is you forecast for Russian diamond manufacturers?

I am not an expert in the Russian market but I know that the situation in Russia was difficult for manufacturers in the past; however, I think that there are positive changes which the Russian government initiated so I believe that the future is positive.

What do you think can bring improvements to the market of rough diamonds and jewelry market?

I would like to address the polished diamonds scenario from the consumers’ point of view and say that in my personal opinion, we as an industry have to create a different perception of diamonds in the eyes of end consumers. Diamond brands should be treated like people treat Luis Vuitton, Prada, Cartier and other luxury brands. When consumers go to retailers to buy deluxe goods, they are prepared to pay premium prices. As for branded diamonds, many consumers still focus on their price and attempt to bargain over it, instead of considering the guaranteed quality and trusted value represented by diamonds in general and by diamond brands in particular. I think that a shift in consumers’ view will have a positive affect on the entire industry.

What will make your job easier?

This is the one million dollar question, but I do not look at what I do in terms of its difficulty. My job is not easy but I can say that I have passion and love to the diamond, jewelry and watches worldwide industries and I love my position as a multinational executive of an international company such as Almod Diamonds which I am very proud to be part of and let’s not forget the great team of managers and employees that I have the privilege to work with. Thus, I am waking up with a smile every day and ready to contribute to our industries and to my company and its owners and team members.

Thank you very much for taking the time to speak with me and I wish you and your readers a new year of prosperity and success.

Veronica Novoselova, Rough&Polished African Bureau editor in Namibia