Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

Diamond market players discuss industry development at EEF

04 september 2015
On September 3, as part of the program of the Eastern Economic Forum (EEF) in Vladivostok, ALROSA hosted a session “New Development Drivers of Global Diamond Business in Asia Pacific”. The session was devoted to the current state and future prospects of the diamond industry.
Representatives of major industry organizations - Ari Epstein, CEO of Antwerp World Diamond Centre; Vipul Shah, Chairman of Gem & Jewellery Export Promotion Council (GJEPC); Ernie Blom, President of World Federation of Diamond Bourses - took part in the discussion. The diamond manufacturing and jewellery segments of the business were also represented and contributed to the discussion.
The participants discussed the reasons of global diamond market weakening such as macroeconomic factors, slowdown of diamond jewellery demand, problems of financing and manufacturing business profitability. Speaking at the session President of ALROSA Andrey Zharkov mentioned that within the existing circumstances it is necessary to uphold responsible and balanced position aimed at stabilizing market situation. For its part, ALROSA lowered rough diamond prices by 6% since the beginning of the year and cut supply volumes at the latest trading sessions in accordance with market environment.
Andrey Zharkov drew attention of the participants to the fact that it was necessary to bring back the programs focused on the promotion of polished diamonds as an emotional symbol to stimulate consumption. “Having given up generic diamond promotion some fifteen years ago, today our industry faces first negative signals. At this time we – practically all major diamond producers – have established a Diamond Producers Association (DPA). Its main line of activities will be development and implementation of marketing programs, as the future of our industry directly depends on what new generations will see in the diamond”, Zharkov said.