Articles and News

Diamond Exec to Mining Companies: Ante Up the Marketing Money!

Moscow, Russia—In his first public message, International Diamond Manufacturers Association president Maxim Shkadov, left, called upon rough producers to create a joint industry marketing plan to increase the market share of polished diamonds and diamond jewelry in the luxury consumer product sector.

He pointed out a number of economic warning signs in the diamond market, most notably that rough prices have soared while certain categories of polished stones have stayed the same for 30 years, and that attempts to force sightholders to shoulder some of the financial burden for growing market share have failed. He also reminded the industry that diamond jewelry is losing share within the luxury goods consumer market, and concluded by asking the producers to step up in a joint, dynamic effort to increase demand for diamonds.

“They, too, cannot but grasp that such an effort should be funded by those who have the biggest stake in our pipeline, by those who sell their goods with the biggest profit margins. The question is therefore, why are they not stepping up to shoulder that effort. Wake up! Your business—our business--is under threat,” he concluded.

De Beers’ Mellier and Shine to Make First U.S. Appearance

New York, NY—Philippe Mellier, CEO of the De Beers Group, and Varda Shine, CEO of De Beers’ Diamond Trading Company (DTC) will address the general membership meeting of the Diamond Manufacturers and Importers Association of America (DMIA) on January 8. Their appearance marks the first-ever U.S. appearance of De Beers executives in a business presentation. Mellier and Shine are expected to make a comprehensive presentation about the De Beers Group of Companies, diamond mining, polished markets, and the state of both the American and international diamond industry. Anyone interested in attending should email Alla Sachakova, alla@williamfriedmandiamonds.com.