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Industry News: Rap Demands Mellier’s Head; JA Certifies 133 Jewelry Professionals; More November 24, 2015 (0 comments)
Rapaport Calls for Resignation of De Beers CEO
New York, NY—Martin Rapaport wants Philippe Mellier’s head: if not on a platter, at least on the chopping block. In a scathing editorial released Tuesday, the diamond industry’s biggest gadfly called for De Beers’ CEO to resign amid an expected 60% plunge in rough diamond prices for the second half of 2015.
It wouldn’t be the first time a corporate CEO is taken to task for dismal results, but Rapaport blames Mellier—along with banks and other mining companies—for maintaining artificially high rough diamond prices that he claims have destroyed the industry. He calls the rough market a bubble that’s burst, likens it to the real estate crash of 2008, and demands that De Beers immediately inject liquidity into the trade by reducing rough diamond prices by 30% to 50%.
International Diamond Council Launches New Nomenclature Website
Antwerp, Belgium—The International Diamond Council has launched its new website to serve as an informative platform for diamond nomenclature and terminology. The organization, which dates back to 1975, has a mandate to establish industry-wide unity in the grading of polished diamonds and has since become the diamond industry and trade's authoritative body to define diamond nomenclature.
"The launch of the new site comes at a timely moment," said Harry Levy, the incumbent IDC chairman. "Consumer confidence in diamonds currently stands at the top of our industry's agenda. Only a few months ago, the IDC celebrated the publication of the International Organization for Standardization (ISO) new standard for diamond nomenclature: ISO 18323 Jewellery -- Consumer confidence in the diamond industry.
“This international standard helps consumers understand the differences between natural and synthetic diamonds, informs them about the various treatments of diamonds, as well as about simulants…that can be misrepresented as natural diamonds," he explained. "Currently, the IDC Rules are, together with CIBJO's Diamond Book, the authoritative nomenclature for polished diamonds."
JA Certifies 133 Industry Professionals In Time for Holiday Season
New York, NY—Jewelers of America (JA) has certified 133 jewelry professionals nationwide in the areas of sales, management and bench skills this year, just in time for the holiday selling season. JA's Professional Sales and Management Certification program establishes national standards with two-hour exams that evaluate the proficiency of jewelry professionals at two levels. JA launched the program in the late 1990s through an industry task force, including representatives from all types of retail jewelry stores nationwide.
“JA Professional Certification helps raise the bar when it comes to professionalism in the jewelry industry,” says Susan Posnock, JA director of public affairs and educaiton. “JA certification programs promote consumer confidence by validating an individual’s talent, knowledge and jewelry proficiency to consumers seeking trustworthy jewelers.”
Coleman Clark, president of Oklahoma City, OK-based B.C. Clark Jewelers, is one retailer that believes in the value of the designation. ““BC Clark has made a commitment to education, and having the most professional staff in our region. Jewelers of America is a big part of that,” he says. 23 of BC Clark’s staff members hold JA professional certifications.
Winter Diamond Week in Israel Set
Ramat Gan, Israel The winter edition of the International Diamond Week in Israel (IDWI), will be held at the Israel Diamond Exchange (IDE) fro February 14-18, 2016. Moti Fluk, IDWI chairman, said it is timed for diamantaires and diamond buyers worldwide to stock up on diamonds following the 2015 holiday season.
“The current outlook for the consumer markets in the USA, as well as in Asia is still positive, in spite of the economic slowdown in the eastern markets," he said.