This Memo project is the response of La Buddha to what she believes is lacking in single-channel retail models - tactile, personal access to jewelry, which is in the service of real stores, coupled with the convenience and affordability of online purchases.
The time period specified in the Memo information for "free fitting of the house" eliminates this drawback.
When customers order a product on ExperienceMemo.com, they are delivered to them free of charge in two days, and they have three days to try it on and evaluate the product before it is paid for. If they are not satisfied, they can return it during this time for free, as indicated in the Memo information.
All stock intended for the Memo project is available, and in case of a return, this product is returned there.
"I wonder what's going on at home (when you try on jewelry), because I myself had such a case, and this is a very special feeling," La Buddha said. "Obviously, security measures are being taken, but there is a great deal of trust that is also present here, and the mutual respect that we feel for clients is quite striking."
In order to guarantee itself against theft, Memo collects information about the credit card before sending the jewelry to consumers, as with traditional online purchases, to withdraw money when the three-day trial period ends. They also spend the reservation of amounts on the bank card before sending the goods in order to protect themselves from fraudulent credit card orders.
La Buddha is aimed at giving the electronic service on the Memo project the same personal and connecting character that can be obtained when shopping in a well-managed independent boutique.
In addition to the time for the fitting of the house, La Buddha achieves this through the content of the site. Buyers can find out about the designers whose work Memo presents with skillfully created video interviews on the site (five of the 12 designers are currently represented), as well as detailed descriptions of individual products by their creators.
"Our platform is so rich from a visual point of view," La Buddha said. "I think we can tell an interesting story about collections and designers."
Precious jewelry is the "personal passion" of La Buddha. When she worked on the boards of companies and traveled to different cities around the world for work, she really liked to discover different jewelry boutiques, meet with designers and listen to their stories.
"When I traveled less, I still tried to find new products and new designers, but I realized that it is difficult to have the same close relationship on the Internet," said the business lady from Rochester, New York.
The initial reason for the creation of the Memo in La Buddha was the desire to make available such a quality of service, focused on the wishes of the client.
Every aspect of the unconventional retailing process under the Memo project is the result of several months of consumer research, finding out what people like and dislike when shopping in an online store or in a real store.
La Buddha found out that buyers, like herself, like the availability of online shopping, but the service lacked certain elements of shopping in the store that they like.
"We are now living in a world in which people are used to the Internet and the amenities that it creates," she explained, "but getting the convenience, you sacrifice sometimes other aspects - the relationships that arise if you meet directly with the designer. This is our decision to unite it. "
She continued: "When we created Memo, it took us quite a long time not to try to force a model or technology (jewelry) industry, but really look at the industry and hear from both customers and designers what is needed."
La Buddha said that her customers, mostly women who themselves make purchases for themselves, are still learning the nature of the Memo service, and Memo is making progress in making e-commerce oriented to people.
This is confirmed by the requests that La Buddha receives for orders of products from the designers she offers, she says that this is the service that most of them are happy to provide.
Memo does not disclose its financial information, but La Buddha said that although the company is at an early stage of its existence, it focuses on making money in full force. She began posting in-built events where customers can meet with designers directly, and she has plans to offer more designers on this site.
http://www.nationaljeweler.com/independents/ecommerce/5474-e-commerce-site-memo-lets-consumers-try-before-they-buy
Sunday, July 30, 2017
One of the main disadvantages of selling online diamonds
The growing influence of the two thousandth generation on the sales of diamond jewelry has forced retailers to look for new strategies and technologies for adaptation to changes in the way people make purchases. For the most part, the retail sale of diamond jewelry is still largely made directly, and a relationship is established between the seller and the buyer. But this is changing rapidly, and this change requires some new means for both the buyer and the seller to influence the interaction. In my final series of articles on how technology has begun to influence our increasingly changing industry, let's look at some breakthroughs,
One of the most difficult tasks of any retail store is to attract customers to the store. The most brilliant sellers or breathtaking showcases will not provide the sales volume in the absence of shop attendance by buyers. In the jewelry industry, buyers usually stick to one particular brand or store and often buy again at the same store. The search for new ways to attract existing customers to the store is a great strategy to increase sales without searching for new customers, which is the biggest challenge for any company.
Software for customer relationship management has made great strides in this area and helps automate a manual process that takes a long time. Stores can support databases for their customers, and the software can be designed to send reminders of upcoming birthdays or anniversaries and even make different offers based on previous purchases. Advertising materials can be sent out on the eve of the holiday shopping season, for example, Valentine's Day in the United States or the holiday of "Bachelors" in China, concerning a large number of people. Although text messages are much more time consuming, they can achieve the same goal with a more individual approach. Some stores constantly keep in touch with their customers,
In recent years, there has been an exponential growth in the volume of online sales of diamond jewelry. Although the volume of online jewelry sales is far from surpassing the sales in real stores, they become an important part of any retailer's offer of products and huge investments are made in the development of this area of retail sales. The two main advantages of online jewelry sales are a wider choice and greater adaptation to specific needs. Online retailers can offer virtually limitless choice of styles and diamonds for every taste and budget.
One of the main disadvantages of selling online diamonds has always been that buyers of expensive products usually want to look and touch the product and evaluate how it will look at them. Online retailer Blue Nile tried to solve this problem with the help of a significant improvement of its application "Dream Box". The user can now take a picture of his hand and download it from the smartphone. Then they can see how the ring will actually look on their hand, without leaving home. Apple has created a similar application for users to see how Apple watches will look at their wrists, and there are many similar applications on different platforms. In addition, many online jewelry retailers offer higher definition, 3D images of their products. This enables consumers to look at the product from all possible angles, giving them a better idea of what they are buying. Currently, there is nothing unusual in seeing a tablet in a diamond jewelery store, which allows the consumer and seller to explore different versions of frames or diamonds at the point of sale.
Most of us were on different websites, on which, as they say, sites use "cookies", but not everyone understands what it is. A "cookie" is a small file that is stored on a user's computer, and it collects a small amount of data about the history of the user's views and the structure of purchases. They are used, mainly, for so-called re-marketing. Re-marketing just explains that we often continue to see ads for a particular product or retailer that we visited in the past, even when we look at websites that are not at all related to it. This advertising often accompanies us online and, apparently, significantly influences the decision making about purchases simply due to the increased hidden advertising of the brand or product for the consumer, who often does not realize this. If you see ads all the time, It may give the impression that the store is probably much more than it really is, or that many people buy a certain product. Repeated marketing is what retailers pay for, based on the number of "clicks" (button clicks) on advertising. This allows them to increase their expenses on the eve of important periods of purchases, in order to promote the growth of attendance of stores.
http://www.ehudlaniado.com/home/index.php/news/entry/technology-in-diamonds-retail
One of the most difficult tasks of any retail store is to attract customers to the store. The most brilliant sellers or breathtaking showcases will not provide the sales volume in the absence of shop attendance by buyers. In the jewelry industry, buyers usually stick to one particular brand or store and often buy again at the same store. The search for new ways to attract existing customers to the store is a great strategy to increase sales without searching for new customers, which is the biggest challenge for any company.
Software for customer relationship management has made great strides in this area and helps automate a manual process that takes a long time. Stores can support databases for their customers, and the software can be designed to send reminders of upcoming birthdays or anniversaries and even make different offers based on previous purchases. Advertising materials can be sent out on the eve of the holiday shopping season, for example, Valentine's Day in the United States or the holiday of "Bachelors" in China, concerning a large number of people. Although text messages are much more time consuming, they can achieve the same goal with a more individual approach. Some stores constantly keep in touch with their customers,
In recent years, there has been an exponential growth in the volume of online sales of diamond jewelry. Although the volume of online jewelry sales is far from surpassing the sales in real stores, they become an important part of any retailer's offer of products and huge investments are made in the development of this area of retail sales. The two main advantages of online jewelry sales are a wider choice and greater adaptation to specific needs. Online retailers can offer virtually limitless choice of styles and diamonds for every taste and budget.
One of the main disadvantages of selling online diamonds has always been that buyers of expensive products usually want to look and touch the product and evaluate how it will look at them. Online retailer Blue Nile tried to solve this problem with the help of a significant improvement of its application "Dream Box". The user can now take a picture of his hand and download it from the smartphone. Then they can see how the ring will actually look on their hand, without leaving home. Apple has created a similar application for users to see how Apple watches will look at their wrists, and there are many similar applications on different platforms. In addition, many online jewelry retailers offer higher definition, 3D images of their products. This enables consumers to look at the product from all possible angles, giving them a better idea of what they are buying. Currently, there is nothing unusual in seeing a tablet in a diamond jewelery store, which allows the consumer and seller to explore different versions of frames or diamonds at the point of sale.
Most of us were on different websites, on which, as they say, sites use "cookies", but not everyone understands what it is. A "cookie" is a small file that is stored on a user's computer, and it collects a small amount of data about the history of the user's views and the structure of purchases. They are used, mainly, for so-called re-marketing. Re-marketing just explains that we often continue to see ads for a particular product or retailer that we visited in the past, even when we look at websites that are not at all related to it. This advertising often accompanies us online and, apparently, significantly influences the decision making about purchases simply due to the increased hidden advertising of the brand or product for the consumer, who often does not realize this. If you see ads all the time, It may give the impression that the store is probably much more than it really is, or that many people buy a certain product. Repeated marketing is what retailers pay for, based on the number of "clicks" (button clicks) on advertising. This allows them to increase their expenses on the eve of important periods of purchases, in order to promote the growth of attendance of stores.
http://www.ehudlaniado.com/home/index.php/news/entry/technology-in-diamonds-retail
Exhibitions of luxury goods and fashion shows from haute couture
The season of jewelry shows in Las Vegas has once again instilled some confidence in the diamond trade, despite a decline in attendance. In addition to trade prospects for buyers and suppliers, these exhibitions showed a picture of the diamond and jewelry market.
After talking with industry leaders and trade participants and visiting many impressive seminars organized at the JCK exhibition, I realized that the market is in a better condition than a year ago, despite the continuing challenges.
A week in Las Vegas, a visit to the JCK, exhibitions of luxury goods and fashion shows from haute couture have revealed the following fundamental factors that have an impact on the market:
1. Trade is stable, but there is no need to buy
The market is functioning, and there is some confidence in the demand from the United States. It is important that jewelers adapt to changes in consumer trends to a greater extent than a year ago.
Technically competent jewelers develop multi-channel capabilities through existing strategies related to social networks, and provide highly specialized, individualized services and products that will create their market position. Those who do not take such measures fail.
But the retail environment is still volatile and developing. Falling sales volumes of Signet Jewelers and Tiffany & Co. Has raised concerns about large companies, and the independent "family" segment continues to decline, increasing uncertainty.
"The market is fine, but it's not quite healthy," said Stanley Zale, vice president of diamonds and precious stones at Stuller, a large jewelry wholesaler and distributor. "The old business model is no longer working, as jewelers have shifted from large stocks to more efficient work."
Of course, they did not aspire to create stock at the exhibition. A number of diamantaires noted that buyers were looking for goods, but did not spend their entire budget. Customers were looking for narrower assortments of diamonds, demonstrating a good demand for diamonds of higher quality H-J color, SI purity, which were not always available.
Customers also switched to lower-priced products, to the detriment of size, the assortment of diamonds from H to J, and the purity of SI, which indicated a more limited consumer spending in the current economic environment in the United States, explained Charles Rosario, President of the New York-based company Lazare Kaplan, engaged in the supply of diamonds.
"Retailers are adjusting to middle-income consumers who remain resilient and will buy at lower prices," Rosario explained. "It's not about profit, it's about survival."
According to Edahn Golan, a researcher from the NDP Group, which conducts analytical analysis of data in the retail sector, in 2016 average retail prices for diamonds fell by 1%.
2. Vendors save inventory
Retailers are trying to protect their profit margins by transferring this decline in prices to wholesalers and diamantaires who are experiencing difficulties in creating cash flows. Golan added that wholesale prices fell by 2% last year.
Suppliers of diamonds are particularly pressured when working with large retailers, not wishing to adhere to their "dictatorial conditions", which faced one diamond manufacturer.
"The honor to sell the volume of stones to one guy is considered an easier thing, because you get stability," explained Rosario. "But they shake you out of everyone, so why sell if you can not make money?"
The profit margins of diamond manufacturers are declining as they are under pressure from retail buyers, and they are forced to pay for diamonds "which are slowly rising in price every month," the Israeli diamond manufacturer added.
In addition, since jewelry wholesalers and retailers are very legible, stone dealers and diamond manufacturers remain with large inventories in the industry. Another Israeli participant of the exhibition said that he built his business model around providing a large amount of stones to choose from, especially because retailers usually want to take the goods for consignment.
"For me, it's fine, because I do not need to worry about the liquidity of retailers, because they take the diamonds for consignment and pay when they sell," he said, wishing to remain anonymous.
But most small and medium-sized diamond companies can not afford to finance stones, although on a consignment basis, and diamantaires usually try to avoid holding too large stocks. At the exhibition, some discounts were given in an attempt to get rid of the surplus of old stocks, but American jewelers do not buy for future use, even at reduced prices, another supplier from New York said.
Many said that stock levels are currently in equilibrium, even assumed that there is a deficit of popular SI purity diamonds. But they are concerned that new deliveries of diamonds will hit the market, as production volumes have increased over the past few months, leading to an increase in sewage in the middle part of the diamond pipeline in a calm summer period.
3. Only change is permanent
Some diamond producers expect that the assortment of demand will expand by the end of the year, as jewelers began to think about Christmas. But they also note that June is too early for jewelers to make purchases for the festive season, as the market is changing at such a fast pace.
The changes were caused by the development of consumer habits of consumers by influencing how, what, why and where people make purchases, and what millenials - a generation of two thousandths - have a different attitude to diamonds than previous generations. This forces retailers to rethink the ways of interacting with their customers and forces marketers to look again for how they will tell the story of the diamond.
In combining the know-how of gabmiologists from the time of baby boomers with the technical knowledge of millenials, real opportunities lie.
Millenials can be different, but, like the "X" generation and baby boomers, they need to trust their jeweler. And much of this trust is demonstrated and deserved online through jewelers' websites and, probably, more importantly, due to their presence in social networks. Consumers increasingly "look at the windows" on the Internet before buying, and they are therefore more aware and armed in order to put pressure on the retailer to reduce prices.
Then it is the jewelers that show the added value that makes them stand out from the crowd to ensure sales.
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=58997&ArticleTitle=5+Takeaways+from+Las+Vegas
After talking with industry leaders and trade participants and visiting many impressive seminars organized at the JCK exhibition, I realized that the market is in a better condition than a year ago, despite the continuing challenges.
A week in Las Vegas, a visit to the JCK, exhibitions of luxury goods and fashion shows from haute couture have revealed the following fundamental factors that have an impact on the market:
1. Trade is stable, but there is no need to buy
The market is functioning, and there is some confidence in the demand from the United States. It is important that jewelers adapt to changes in consumer trends to a greater extent than a year ago.
Technically competent jewelers develop multi-channel capabilities through existing strategies related to social networks, and provide highly specialized, individualized services and products that will create their market position. Those who do not take such measures fail.
But the retail environment is still volatile and developing. Falling sales volumes of Signet Jewelers and Tiffany & Co. Has raised concerns about large companies, and the independent "family" segment continues to decline, increasing uncertainty.
"The market is fine, but it's not quite healthy," said Stanley Zale, vice president of diamonds and precious stones at Stuller, a large jewelry wholesaler and distributor. "The old business model is no longer working, as jewelers have shifted from large stocks to more efficient work."
Of course, they did not aspire to create stock at the exhibition. A number of diamantaires noted that buyers were looking for goods, but did not spend their entire budget. Customers were looking for narrower assortments of diamonds, demonstrating a good demand for diamonds of higher quality H-J color, SI purity, which were not always available.
Customers also switched to lower-priced products, to the detriment of size, the assortment of diamonds from H to J, and the purity of SI, which indicated a more limited consumer spending in the current economic environment in the United States, explained Charles Rosario, President of the New York-based company Lazare Kaplan, engaged in the supply of diamonds.
"Retailers are adjusting to middle-income consumers who remain resilient and will buy at lower prices," Rosario explained. "It's not about profit, it's about survival."
According to Edahn Golan, a researcher from the NDP Group, which conducts analytical analysis of data in the retail sector, in 2016 average retail prices for diamonds fell by 1%.
2. Vendors save inventory
Retailers are trying to protect their profit margins by transferring this decline in prices to wholesalers and diamantaires who are experiencing difficulties in creating cash flows. Golan added that wholesale prices fell by 2% last year.
Suppliers of diamonds are particularly pressured when working with large retailers, not wishing to adhere to their "dictatorial conditions", which faced one diamond manufacturer.
"The honor to sell the volume of stones to one guy is considered an easier thing, because you get stability," explained Rosario. "But they shake you out of everyone, so why sell if you can not make money?"
The profit margins of diamond manufacturers are declining as they are under pressure from retail buyers, and they are forced to pay for diamonds "which are slowly rising in price every month," the Israeli diamond manufacturer added.
In addition, since jewelry wholesalers and retailers are very legible, stone dealers and diamond manufacturers remain with large inventories in the industry. Another Israeli participant of the exhibition said that he built his business model around providing a large amount of stones to choose from, especially because retailers usually want to take the goods for consignment.
"For me, it's fine, because I do not need to worry about the liquidity of retailers, because they take the diamonds for consignment and pay when they sell," he said, wishing to remain anonymous.
But most small and medium-sized diamond companies can not afford to finance stones, although on a consignment basis, and diamantaires usually try to avoid holding too large stocks. At the exhibition, some discounts were given in an attempt to get rid of the surplus of old stocks, but American jewelers do not buy for future use, even at reduced prices, another supplier from New York said.
Many said that stock levels are currently in equilibrium, even assumed that there is a deficit of popular SI purity diamonds. But they are concerned that new deliveries of diamonds will hit the market, as production volumes have increased over the past few months, leading to an increase in sewage in the middle part of the diamond pipeline in a calm summer period.
3. Only change is permanent
Some diamond producers expect that the assortment of demand will expand by the end of the year, as jewelers began to think about Christmas. But they also note that June is too early for jewelers to make purchases for the festive season, as the market is changing at such a fast pace.
The changes were caused by the development of consumer habits of consumers by influencing how, what, why and where people make purchases, and what millenials - a generation of two thousandths - have a different attitude to diamonds than previous generations. This forces retailers to rethink the ways of interacting with their customers and forces marketers to look again for how they will tell the story of the diamond.
In combining the know-how of gabmiologists from the time of baby boomers with the technical knowledge of millenials, real opportunities lie.
Millenials can be different, but, like the "X" generation and baby boomers, they need to trust their jeweler. And much of this trust is demonstrated and deserved online through jewelers' websites and, probably, more importantly, due to their presence in social networks. Consumers increasingly "look at the windows" on the Internet before buying, and they are therefore more aware and armed in order to put pressure on the retailer to reduce prices.
Then it is the jewelers that show the added value that makes them stand out from the crowd to ensure sales.
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=58997&ArticleTitle=5+Takeaways+from+Las+Vegas
Provide new information on the results of its negotiations
Pallinghurst Resources could be dragged into the competition between buyers for control of Gemfields after this UK-registered company said that it was aggressively looking for a "possible competitive offer."
On the day Pallinghurst presented its offer to Gemfields, the company that produces and sells colored diamonds said that Fosun Gold, a subsidiary of Fosun International, registered in Hong Kong, applied to it. As reported by Gemfields, she held "active negotiations with Fosun Gold about a possible competing offer for the entire issued and upcoming share capital of the company."
Gemfields said that this appeal became possible after the involvement of its consultants in order to "... study ways to create maximum value for shareholders and protect the interests of minority shareholders." An independent committee set up by Gemfields to evaluate Pallinghurst's takeover offer, which includes its chief executive, Ian Harebottle, said that negotiations with Fosun Gold "... may lead to a purchase offer for cash at a higher cost compared to With an undesirable offer from Pallinghurst. "
Fosun Gold until August 5 should provide a competing offer of the company Gemfields.
In a statement made today, Pallinghurst reported that the closing of the first transaction on its proposal is scheduled for July 4. She began the fight in a tender for shares, which she no longer had in Gemfields on May 19 at a ratio of 1.91 new shares of Pallinghurst for each share of Gemfields. Twelve days later, an independent committee of Gemfields called this proposal "ludicrous."
"The undesirable proposal seems to be caused by the proposed restructuring of Pallinghurst, whose goal is to preserve the self-interested interests of investment management at Pallinghurst through independent investors from Gemfields," the committee said. He added that Pallinghurst was illiquid and put minority shareholders in Gemfields under attack due to more volatile goods, for example, iron ore, which Pallinghurst invests.
Pallinghurst assumes that the stock price of Gemfields has been low for many years, and the company, which already owns 47% of Gemfields, is tired of financing such low economic efficiency. The shares of Gemfields, which fell by almost 10% immediately after the announcement of Pallinghurst's plans for acquisitions, fell sharply today in London.
The company's capitalization is £ 194 million on the London Stock Exchange, compared to an implied offer of Pallinghurst of £ 118 million ($ 150 million).
"Gemfields has been in Pallinghurst's records for 15 years, and we served as a bank," said Arné Frandsen, CEO of Pallinghurst Resources. - We do not get a return. It costs us half of our value - the price of Pallinghurst shares depends on Gemfields, and this is the main reason for the fall in the prices of Pallinghurst shares. We can not accept this with my shareholders, "he said.
The independent committee of Gemfields said today that shareholders should not take action on the proposal of Pallinghurst and that it will provide new information on the results of its negotiations with Fosun Gold on June 27 or earlier. Founded in 1992, Fosun International is an industrial and investment conglomerate, headquartered in Shanghai.
http://www.miningmx.com/news/diamonds/29809-pallinghurst-may-face-bidding-war-gemfields-solicits-suitor/
On the day Pallinghurst presented its offer to Gemfields, the company that produces and sells colored diamonds said that Fosun Gold, a subsidiary of Fosun International, registered in Hong Kong, applied to it. As reported by Gemfields, she held "active negotiations with Fosun Gold about a possible competing offer for the entire issued and upcoming share capital of the company."
Gemfields said that this appeal became possible after the involvement of its consultants in order to "... study ways to create maximum value for shareholders and protect the interests of minority shareholders." An independent committee set up by Gemfields to evaluate Pallinghurst's takeover offer, which includes its chief executive, Ian Harebottle, said that negotiations with Fosun Gold "... may lead to a purchase offer for cash at a higher cost compared to With an undesirable offer from Pallinghurst. "
Fosun Gold until August 5 should provide a competing offer of the company Gemfields.
In a statement made today, Pallinghurst reported that the closing of the first transaction on its proposal is scheduled for July 4. She began the fight in a tender for shares, which she no longer had in Gemfields on May 19 at a ratio of 1.91 new shares of Pallinghurst for each share of Gemfields. Twelve days later, an independent committee of Gemfields called this proposal "ludicrous."
"The undesirable proposal seems to be caused by the proposed restructuring of Pallinghurst, whose goal is to preserve the self-interested interests of investment management at Pallinghurst through independent investors from Gemfields," the committee said. He added that Pallinghurst was illiquid and put minority shareholders in Gemfields under attack due to more volatile goods, for example, iron ore, which Pallinghurst invests.
Pallinghurst assumes that the stock price of Gemfields has been low for many years, and the company, which already owns 47% of Gemfields, is tired of financing such low economic efficiency. The shares of Gemfields, which fell by almost 10% immediately after the announcement of Pallinghurst's plans for acquisitions, fell sharply today in London.
The company's capitalization is £ 194 million on the London Stock Exchange, compared to an implied offer of Pallinghurst of £ 118 million ($ 150 million).
"Gemfields has been in Pallinghurst's records for 15 years, and we served as a bank," said Arné Frandsen, CEO of Pallinghurst Resources. - We do not get a return. It costs us half of our value - the price of Pallinghurst shares depends on Gemfields, and this is the main reason for the fall in the prices of Pallinghurst shares. We can not accept this with my shareholders, "he said.
The independent committee of Gemfields said today that shareholders should not take action on the proposal of Pallinghurst and that it will provide new information on the results of its negotiations with Fosun Gold on June 27 or earlier. Founded in 1992, Fosun International is an industrial and investment conglomerate, headquartered in Shanghai.
http://www.miningmx.com/news/diamonds/29809-pallinghurst-may-face-bidding-war-gemfields-solicits-suitor/
This is an unqualified proposal, apparently due to the proposed restructuring of Pallinghurst
Pallinghurst Resources has announced that it has received sufficient support to make an offer to buy all of Gemfields shares for $ 150 million unconditional, as more than 60% of Gemfields shareholders, a listed company in the UK mining company and trading in the market, Support the proposed transaction.
"As of 5:40 pm on June 16, Pallinghurst has received confirmed approval for 77,888,324 shares of Gemfields, representing approximately 14.16% of the existing issued share capital of Gemfields," Pallinghurst reported yesterday at the Johannesburg Stock Exchange Johannesburg Stock Exchange).
Taking into account the 47% stake in Gemfields, which are already owned by Pallinghurst, the total number of shares for which consent was obtained was 61.25% today.
"Thanks to this agreement on the offer to Gemfields received before the general meeting, Pallinghurst now has support that exceeds the minimum level required for this offer," said Johannes van Niekerk, spokesman for Pallinghurst. "In addition, there are other notifications of irrevocable support, indicating the existence of votes that may be cast in favor of this proposal at the general meeting of Gemfields."
Consent to the sale of Gemfields shares was received from shareholders who already provided irrevocable support to the Pallinghurst proposal, put forward on May 19, and which include NGPMR, Investec and South African businessman Christo Wiese. However, irrevocable obligations cease to be mandatory if, among other conditions, a competing offer with a 10% premium is received.
Gemfields announced last week that a Chinese company called Fosun Gold, a subsidiary of Fosun International, is considering the possibility of filing a competing bid for the purchase of this company of colored gemstones with a 10% premium to the Pallinghurst offer. Arne Frandsen, CEO of Pallinghurst Resources, said he does not have information about the status of the Fosun proposal. "It's just an indication that they can or can not make a proposal. Therefore, we will have to wait and see, "he said.
As for the offer, if Pallinghurst wins up to 75% of the shareholder support, it will be able to withdraw Gemfields shares from the Alternative Investments Market (AIM) market in the UK; If 90% of shareholders accept the offer, then Pallinghurst will have to extend it until the balance sheet for minority shareholders is balanced.
The Pallinghurst proposal for Gemfields attracted criticism from an independent committee created by Gemfields, who said the proposal underestimates the company and exchanges the liquid shares of the British company on the stock exchange for illiquid shares traded on the Johannesburg Stock Exchange.
Last week, Pallinghurst published a consolidated shareholder report that the first closing of its proposal is scheduled for July 4. She made a proposal to exchange shares of Gemfields, which she did not yet own, on May 19 in the ratio of 1.91 new shares of Pallinghurst for each share of Gemfields.
"This is an unqualified proposal, apparently due to the proposed restructuring of Pallinghurst, which aims to preserve the selfish interests of Pallinghurst investment managers at the expense of independent shareholders of Gemfields," the committee said. He added that Pallinghurst, being an illiquid company, subjects Gemfields minority shareholders to risks associated with more volatile products, such as iron ore, in which Pallinghurst funds are invested.
http://www.miningmx.com/top-story/29858-pallinghurst-wins-61-support-controversial-gemfields-bid/
"As of 5:40 pm on June 16, Pallinghurst has received confirmed approval for 77,888,324 shares of Gemfields, representing approximately 14.16% of the existing issued share capital of Gemfields," Pallinghurst reported yesterday at the Johannesburg Stock Exchange Johannesburg Stock Exchange).
Taking into account the 47% stake in Gemfields, which are already owned by Pallinghurst, the total number of shares for which consent was obtained was 61.25% today.
"Thanks to this agreement on the offer to Gemfields received before the general meeting, Pallinghurst now has support that exceeds the minimum level required for this offer," said Johannes van Niekerk, spokesman for Pallinghurst. "In addition, there are other notifications of irrevocable support, indicating the existence of votes that may be cast in favor of this proposal at the general meeting of Gemfields."
Consent to the sale of Gemfields shares was received from shareholders who already provided irrevocable support to the Pallinghurst proposal, put forward on May 19, and which include NGPMR, Investec and South African businessman Christo Wiese. However, irrevocable obligations cease to be mandatory if, among other conditions, a competing offer with a 10% premium is received.
Gemfields announced last week that a Chinese company called Fosun Gold, a subsidiary of Fosun International, is considering the possibility of filing a competing bid for the purchase of this company of colored gemstones with a 10% premium to the Pallinghurst offer. Arne Frandsen, CEO of Pallinghurst Resources, said he does not have information about the status of the Fosun proposal. "It's just an indication that they can or can not make a proposal. Therefore, we will have to wait and see, "he said.
As for the offer, if Pallinghurst wins up to 75% of the shareholder support, it will be able to withdraw Gemfields shares from the Alternative Investments Market (AIM) market in the UK; If 90% of shareholders accept the offer, then Pallinghurst will have to extend it until the balance sheet for minority shareholders is balanced.
The Pallinghurst proposal for Gemfields attracted criticism from an independent committee created by Gemfields, who said the proposal underestimates the company and exchanges the liquid shares of the British company on the stock exchange for illiquid shares traded on the Johannesburg Stock Exchange.
Last week, Pallinghurst published a consolidated shareholder report that the first closing of its proposal is scheduled for July 4. She made a proposal to exchange shares of Gemfields, which she did not yet own, on May 19 in the ratio of 1.91 new shares of Pallinghurst for each share of Gemfields.
"This is an unqualified proposal, apparently due to the proposed restructuring of Pallinghurst, which aims to preserve the selfish interests of Pallinghurst investment managers at the expense of independent shareholders of Gemfields," the committee said. He added that Pallinghurst, being an illiquid company, subjects Gemfields minority shareholders to risks associated with more volatile products, such as iron ore, in which Pallinghurst funds are invested.
http://www.miningmx.com/top-story/29858-pallinghurst-wins-61-support-controversial-gemfields-bid/
Llocals and the foreign diamond mining company accused of illegal mining on the site
The dispute over the bridge in eastern Sierra Leone, which was to connect the diamond fields, divided the locals and the foreign diamond mining company accused of illegal mining on the site, after she volunteered to rebuild the bridge .
The Congo Bridge in Koida, the capital of the Kono district, was considered by the local authorities to be in a dangerous state and could collapse after several years of illegal small-scale mining carried out at its base.
With the support of the government, in mid-2016, the Israeli company Pluto Mining Company began repairing the structures, but this raised fears that large-scale mining would be carried out, as the excavators removed raw materials from under the road, river banks and nearby wetlands.
A group of activists from Kono joined the activities of the Environmental Protection Authority and the National Minerals Agency of Sierra Leone to recognize the unsafe work associated with a bridge in which a natural buffer was removed, leading to flooding Local houses, more than 60 people lost their homes.
These groups claim that they are one example of an existing wave of foreign companies coming to offer free infrastructure repairs as a means for conducting exploration work in areas where mining is not conducted, bypassing the rights of local residents to land.
"We contacted people in our own agencies, we sent them notices to stop work, but mining continues," said KK Dabor, head of the Environmental Protection Agency (EPA), the Thomson Reuters Foundation.
Rivers, wetlands, hills, even people's places of residence. Everything is destroyed in one way or another. "
Despite the protests, Dabor said, a similar situation arose in 2013 with Pluto, as a large area on the road leading from Koidu is currently mining, and signs are clearly showing "Pluto Mining Property", despite the law on Minerals of 2009, which declared illegal mining at a distance of 200 meters from the city.
For several weeks, Pluto Mining did not respond to numerous phone calls and written requests asking for comments.
The Thomson Reuters Foundation also visited Maxim Brandwain, the founder of Pluto, in Kono, in an attempt to get comments, but the guard did not let him.
Brandwine, an Israeli businessman, is very well known in Sierra Leone as the head of Mercury International, the country's largest company engaged in betting on the results of a sports game. Brandwine did not respond to numerous requests for comments left by his secretary at Mercury's head office in Freetown.
EXTRACTION OF DIAMONDS
Diamonds and agriculture form the backbone of the Sierra Leone economy as the country recovers from the effects of the Ebola epidemic, which claimed about 4,000 people.
Diamonds fueled a decade-long civil war in Sierra Leone, which ended in 2002, in which 50,000 people died. The rebels forced civilians in the east to mine stones and bought weapons for the proceeds, which led to the appearance of the term "blood diamonds".
The UN imposed a ban on the export of diamonds from Sierra Leone in 2003, but the sector is still smitten with contraband and discord at local levels.
During a meeting of the city administration after the collapse of the riverbank last June, local politicians, including Acting Mayor Aya Bartholomew Komba, told residents that the integrity of the bridge structure was damaged by prolonged mining by the villagers.
This could endanger people's lives and, as a result, the local authorities deemed it necessary to remove the "unplanned materials" from under the bridge that were used in mining.
Officials told the residents that the city does not have the powerful excavator equipment necessary for such work, so Pluto Mining was hired, which carried out work for free in the form of an "act of corporate social responsibility".
"We discussed the issue at home, and we only got one name - Pluto. They said charity begins in their own home, and it is this company that is actively involved in the affairs of our local communities, "said Karamoh Kabba, the minister for housing in the eastern region of Sierra Leone.
In addition, we can not conduct mining operations under license on the road, but the place they clear from extraneous materials is included in the license. Therefore, if mining was conducted there, it was not on the road. "
But environmental protection agencies and activists said that these excavations led not only to illegal mining in diamond deposits, without any benefit to local residents, but also to removing the natural buffer that protected residents from flooding.
According to local laws, local leaders are liable for 15 percent of the rent payment for the area of plots paid by the companies that are mining in their tribal areas, and they have the final say on transactions with land.
http://allafrica.com/stories/201705221298.html
The Congo Bridge in Koida, the capital of the Kono district, was considered by the local authorities to be in a dangerous state and could collapse after several years of illegal small-scale mining carried out at its base.
With the support of the government, in mid-2016, the Israeli company Pluto Mining Company began repairing the structures, but this raised fears that large-scale mining would be carried out, as the excavators removed raw materials from under the road, river banks and nearby wetlands.
A group of activists from Kono joined the activities of the Environmental Protection Authority and the National Minerals Agency of Sierra Leone to recognize the unsafe work associated with a bridge in which a natural buffer was removed, leading to flooding Local houses, more than 60 people lost their homes.
These groups claim that they are one example of an existing wave of foreign companies coming to offer free infrastructure repairs as a means for conducting exploration work in areas where mining is not conducted, bypassing the rights of local residents to land.
"We contacted people in our own agencies, we sent them notices to stop work, but mining continues," said KK Dabor, head of the Environmental Protection Agency (EPA), the Thomson Reuters Foundation.
Rivers, wetlands, hills, even people's places of residence. Everything is destroyed in one way or another. "
Despite the protests, Dabor said, a similar situation arose in 2013 with Pluto, as a large area on the road leading from Koidu is currently mining, and signs are clearly showing "Pluto Mining Property", despite the law on Minerals of 2009, which declared illegal mining at a distance of 200 meters from the city.
For several weeks, Pluto Mining did not respond to numerous phone calls and written requests asking for comments.
The Thomson Reuters Foundation also visited Maxim Brandwain, the founder of Pluto, in Kono, in an attempt to get comments, but the guard did not let him.
Brandwine, an Israeli businessman, is very well known in Sierra Leone as the head of Mercury International, the country's largest company engaged in betting on the results of a sports game. Brandwine did not respond to numerous requests for comments left by his secretary at Mercury's head office in Freetown.
EXTRACTION OF DIAMONDS
Diamonds and agriculture form the backbone of the Sierra Leone economy as the country recovers from the effects of the Ebola epidemic, which claimed about 4,000 people.
Diamonds fueled a decade-long civil war in Sierra Leone, which ended in 2002, in which 50,000 people died. The rebels forced civilians in the east to mine stones and bought weapons for the proceeds, which led to the appearance of the term "blood diamonds".
The UN imposed a ban on the export of diamonds from Sierra Leone in 2003, but the sector is still smitten with contraband and discord at local levels.
During a meeting of the city administration after the collapse of the riverbank last June, local politicians, including Acting Mayor Aya Bartholomew Komba, told residents that the integrity of the bridge structure was damaged by prolonged mining by the villagers.
This could endanger people's lives and, as a result, the local authorities deemed it necessary to remove the "unplanned materials" from under the bridge that were used in mining.
Officials told the residents that the city does not have the powerful excavator equipment necessary for such work, so Pluto Mining was hired, which carried out work for free in the form of an "act of corporate social responsibility".
"We discussed the issue at home, and we only got one name - Pluto. They said charity begins in their own home, and it is this company that is actively involved in the affairs of our local communities, "said Karamoh Kabba, the minister for housing in the eastern region of Sierra Leone.
In addition, we can not conduct mining operations under license on the road, but the place they clear from extraneous materials is included in the license. Therefore, if mining was conducted there, it was not on the road. "
But environmental protection agencies and activists said that these excavations led not only to illegal mining in diamond deposits, without any benefit to local residents, but also to removing the natural buffer that protected residents from flooding.
According to local laws, local leaders are liable for 15 percent of the rent payment for the area of plots paid by the companies that are mining in their tribal areas, and they have the final say on transactions with land.
http://allafrica.com/stories/201705221298.html
In terms of faceting, the distribution is similar to the distribution for natural diamonds
What would you say if you were asked about what, in your opinion, will be the trend of consumer behavior in relation to diamonds grown in the laboratory among American consumers? Do they buy synthetic diamonds consciously, or are these stones so small that they pay more attention to the jewelry, and not to what is inserted into it?
You might be surprised that 32 percent of all lab-grown diamonds sold in the United States have a weight of 1-1.49 carats, judging from data gathered by nearly 4,000 specialized jewelry retail stores in the US by NPD, a retail research firm. Another 26 percent weighed from 0.70 to 0.89 carats. This is 58 percent of the total, and it seems that this is not about small inserts in the jewelry, but, most likely, about the central stones. Taking into account that a number of these products existed in the form of uncontrolled stones in retailers' warehouse stocks, we can conclude that retailers kept them in reserve for customers.
Thanks to successful marketing, consumers are already aware of laboratory grown diamonds, and it is not unusual for them to go to a retail store and ask about them or ask for them. Since the beginning of 2015, many American retailers, who were previously determined against the diamonds grown in the laboratory, changed their minds and now follow the example of their customers.
Growth in market share
During 2015, the volume of purchases of diamonds grown in the laboratory showed steady growth. In January 2016, sales in units increased sharply by 230% compared to January 2015. In the first six months of 2016, sales increased by another 80%, and in July consumers bought twice as many products as they sold in January 2016. Based on the most recent data, the uptrend only increased, as seen in the following chart.
But, despite a sharp increase in sales, you should pay close attention to the trend of changes in the market share for months. In February, May, November and December, there was an increase in sales of diamonds. This period of "romantic" holidays (Valentine's Day, Mother's Day and the holidays at the end of the year), when buying wedding decorations and to celebrate wedding anniversaries. But note that the volume of sales of laboratory-grown diamonds became comparatively less during these periods.
This shows that when buying important jewelry, buyers prefer natural diamonds, they want genuine things and consider laboratory-grown diamonds less romantic. This is a clear opportunity for differentiation, for which the diamond industry as a whole must seize and widen the gap between the purchases of fashion jewelry, which are made from time to time, and those purchases that are made on important occasions. Simply put, positioning diamonds again as luxury goods and bringing the diamonds grown in the laboratory to impulsive, seasonal and inexpensive products.
Since the sales of diamonds are cyclical and since the growth in sales reflects only a certain period - for example, the increase in December means the total demand during the holiday season, not necessarily the peak of interest in the diamonds grown in the lab. From this point of view, it is worth studying the market share in order to understand how a niche of diamonds grown in the laboratory supersedes other diamonds.
In January 2015, sales of laboratory-grown diamonds were less than a quarter of a percent of total sales of unallocated and set diamonds, achieved by specialized retail jewelry stores in the United States. After such a modest start, relatively more products were bought by consumers in the following months.
Exp_10012017_2.jpg
In January 2016, this small share of the market grew fourfold and for the first time stood at around 1 percent. The trend for growth continued, and in July 2016, the market share of diamonds grown in the laboratory reached 1.6 percent. Based on the most recent indicators, it can be assumed that the market share will again double by the end of this year.
In terms of faceting, the distribution is similar to the distribution for natural diamonds: 76 percent are round cut diamonds, and 19 percent are princess cuts. The remaining 5 percent of diamond-grown diamonds sold in the United States include several cut diamonds "kushon" and "emerald" (only 2 percent), and several other stones of other cuts.
A lot can be said about the presence of diamonds grown in the laboratory in the middle part of the diamond pipeline. Most of the talk concerns the disclosure of their prosizhdeniya, a test to identify and to what extent a traditional diamond pipeline should or should not participate in the trade of diamonds grown in the laboratory. Most believe that "synthetic diamonds" must be blocked at any cost, but it is clear that the train has already left.
This analysis is based on presentation data held on October 20, 2016 on the Indian Diamond Exchange (Bharat Diamond Bourse, BDB) in Mumbai on behalf of NPD, a retail research firm that collects data on specialized retail jewelry stores in the United States regarding actual performance Sale of diamonds. This presentation includes the demand in the US for natural diamonds.
https://www.gemkonnect.com/blog/americans-buying-more-lab-grown-diamonds-only-real-rocks-romance
You might be surprised that 32 percent of all lab-grown diamonds sold in the United States have a weight of 1-1.49 carats, judging from data gathered by nearly 4,000 specialized jewelry retail stores in the US by NPD, a retail research firm. Another 26 percent weighed from 0.70 to 0.89 carats. This is 58 percent of the total, and it seems that this is not about small inserts in the jewelry, but, most likely, about the central stones. Taking into account that a number of these products existed in the form of uncontrolled stones in retailers' warehouse stocks, we can conclude that retailers kept them in reserve for customers.
Thanks to successful marketing, consumers are already aware of laboratory grown diamonds, and it is not unusual for them to go to a retail store and ask about them or ask for them. Since the beginning of 2015, many American retailers, who were previously determined against the diamonds grown in the laboratory, changed their minds and now follow the example of their customers.
Growth in market share
During 2015, the volume of purchases of diamonds grown in the laboratory showed steady growth. In January 2016, sales in units increased sharply by 230% compared to January 2015. In the first six months of 2016, sales increased by another 80%, and in July consumers bought twice as many products as they sold in January 2016. Based on the most recent data, the uptrend only increased, as seen in the following chart.
But, despite a sharp increase in sales, you should pay close attention to the trend of changes in the market share for months. In February, May, November and December, there was an increase in sales of diamonds. This period of "romantic" holidays (Valentine's Day, Mother's Day and the holidays at the end of the year), when buying wedding decorations and to celebrate wedding anniversaries. But note that the volume of sales of laboratory-grown diamonds became comparatively less during these periods.
This shows that when buying important jewelry, buyers prefer natural diamonds, they want genuine things and consider laboratory-grown diamonds less romantic. This is a clear opportunity for differentiation, for which the diamond industry as a whole must seize and widen the gap between the purchases of fashion jewelry, which are made from time to time, and those purchases that are made on important occasions. Simply put, positioning diamonds again as luxury goods and bringing the diamonds grown in the laboratory to impulsive, seasonal and inexpensive products.
Since the sales of diamonds are cyclical and since the growth in sales reflects only a certain period - for example, the increase in December means the total demand during the holiday season, not necessarily the peak of interest in the diamonds grown in the lab. From this point of view, it is worth studying the market share in order to understand how a niche of diamonds grown in the laboratory supersedes other diamonds.
In January 2015, sales of laboratory-grown diamonds were less than a quarter of a percent of total sales of unallocated and set diamonds, achieved by specialized retail jewelry stores in the United States. After such a modest start, relatively more products were bought by consumers in the following months.
Exp_10012017_2.jpg
In January 2016, this small share of the market grew fourfold and for the first time stood at around 1 percent. The trend for growth continued, and in July 2016, the market share of diamonds grown in the laboratory reached 1.6 percent. Based on the most recent indicators, it can be assumed that the market share will again double by the end of this year.
In terms of faceting, the distribution is similar to the distribution for natural diamonds: 76 percent are round cut diamonds, and 19 percent are princess cuts. The remaining 5 percent of diamond-grown diamonds sold in the United States include several cut diamonds "kushon" and "emerald" (only 2 percent), and several other stones of other cuts.
A lot can be said about the presence of diamonds grown in the laboratory in the middle part of the diamond pipeline. Most of the talk concerns the disclosure of their prosizhdeniya, a test to identify and to what extent a traditional diamond pipeline should or should not participate in the trade of diamonds grown in the laboratory. Most believe that "synthetic diamonds" must be blocked at any cost, but it is clear that the train has already left.
This analysis is based on presentation data held on October 20, 2016 on the Indian Diamond Exchange (Bharat Diamond Bourse, BDB) in Mumbai on behalf of NPD, a retail research firm that collects data on specialized retail jewelry stores in the United States regarding actual performance Sale of diamonds. This presentation includes the demand in the US for natural diamonds.
https://www.gemkonnect.com/blog/americans-buying-more-lab-grown-diamonds-only-real-rocks-romance
Advertising and marketing have become extremely difficult
It was only a matter of time. When the Diamond Producers Association (DPA) was established in 2015, its initial budget of $ 6 million surprised many.
Taking into account the fact that DPA was formed by seven diamond mining companies, including the world's two largest diamond miners, De Beers and ALROSA, the annual budget looked rather small. As De Beers was reported to have invested $ 200 million annually in generic marketing of diamonds for many years, the budget of $ 6 million looked all the more insignificant.
Of course, it is true that De Beers currently accounts for just over one-third of the world's supply of diamonds, while in past times this figure was above 70 percent. But, according to a Bloomberg report, De Beers has nearly halved its annual marketing budget, to about $ 100 million, but this is still a huge amount. In 2015, a diamond mining company is reported to have spent about $ 20 million on just one campaign targeting a generation of two thousand in the United States and China.
Companies such as De Beers, with an annual sales of $ 5-6 billion worth of diamonds, and Russia's ALROSA with its diamond sales in 2016 worth more than $ 4 billion, should actually invest much more in the common boiler. To a lesser extent, but the same applies to other founding members - Dominion Diamond Corporation, Gem Diamonds, Lucara Diamond Corp., Petra Diamonds and Rio Tinto Diamonds.
Clearly, the "problem" is much more difficult than expected, or what the founding members hoped it would be. Advertising and marketing have become extremely difficult. Long gone in the past days, when you could just give an advertisement on television or in a newspaper / magazine and give him the opportunity to do his work.
This is mainly due to the fact that, from the demographic point of view, the population to which the DPA mainly appeals is the so-called two thousandth generation at the age of about 18 to 35, and it is difficult to attract and retain them. Taking into account that they have a rather cynical view of the world and they formed under the influence of the digital age, they can hardly be persuaded by the current somewhat old-fashioned and usual advertising means.
They need to be covered in social networks. But where exactly and how to get to them? Advertising has become extremely fragmented - and expensive. Not only because investments are needed to dramatically increase the number of promotional materials in order to ensure their display to the right audience, but also because research is needed and specialists are needed to break the market into parts and offer ideas that young people find interesting, Amusing or intriguing.
The advertisers must be thinking about the good old days, when a demonstration of television shows or events meant that a significant part of the country's population would sit and watch TV. There is a well-known example in the United Kingdom when the Christmas television show of the popular comic duet Morecambe and Wise in 1977 reportedly attracted 28 million viewers, about half the total population of the UK at that time. And even now in the US, the broadcast of the Super Bowl in American football is viewed, as they say, over 110 million people - about one third of the country's population. But the cost of advertising during Sunday's Super Cup will be prohibitive, even if the annual budget of DPA will eventually be $ 60 million.
http://www.idexonline.com/Memo?Id=42793
Taking into account the fact that DPA was formed by seven diamond mining companies, including the world's two largest diamond miners, De Beers and ALROSA, the annual budget looked rather small. As De Beers was reported to have invested $ 200 million annually in generic marketing of diamonds for many years, the budget of $ 6 million looked all the more insignificant.
Of course, it is true that De Beers currently accounts for just over one-third of the world's supply of diamonds, while in past times this figure was above 70 percent. But, according to a Bloomberg report, De Beers has nearly halved its annual marketing budget, to about $ 100 million, but this is still a huge amount. In 2015, a diamond mining company is reported to have spent about $ 20 million on just one campaign targeting a generation of two thousand in the United States and China.
Companies such as De Beers, with an annual sales of $ 5-6 billion worth of diamonds, and Russia's ALROSA with its diamond sales in 2016 worth more than $ 4 billion, should actually invest much more in the common boiler. To a lesser extent, but the same applies to other founding members - Dominion Diamond Corporation, Gem Diamonds, Lucara Diamond Corp., Petra Diamonds and Rio Tinto Diamonds.
Clearly, the "problem" is much more difficult than expected, or what the founding members hoped it would be. Advertising and marketing have become extremely difficult. Long gone in the past days, when you could just give an advertisement on television or in a newspaper / magazine and give him the opportunity to do his work.
This is mainly due to the fact that, from the demographic point of view, the population to which the DPA mainly appeals is the so-called two thousandth generation at the age of about 18 to 35, and it is difficult to attract and retain them. Taking into account that they have a rather cynical view of the world and they formed under the influence of the digital age, they can hardly be persuaded by the current somewhat old-fashioned and usual advertising means.
They need to be covered in social networks. But where exactly and how to get to them? Advertising has become extremely fragmented - and expensive. Not only because investments are needed to dramatically increase the number of promotional materials in order to ensure their display to the right audience, but also because research is needed and specialists are needed to break the market into parts and offer ideas that young people find interesting, Amusing or intriguing.
The advertisers must be thinking about the good old days, when a demonstration of television shows or events meant that a significant part of the country's population would sit and watch TV. There is a well-known example in the United Kingdom when the Christmas television show of the popular comic duet Morecambe and Wise in 1977 reportedly attracted 28 million viewers, about half the total population of the UK at that time. And even now in the US, the broadcast of the Super Bowl in American football is viewed, as they say, over 110 million people - about one third of the country's population. But the cost of advertising during Sunday's Super Cup will be prohibitive, even if the annual budget of DPA will eventually be $ 60 million.
http://www.idexonline.com/Memo?Id=42793
It was also a good holiday season for the sale of Forevermark diamonds in the US
A recent report of the National Retail Federation (NRF) shows that the volume of holiday sales in the United States in November and December 2016 grew by 4% in annual terms, reaching $ 658.3 billion. According to a report published in Diamond World, this includes sales of $ 122.9 billion from non-store trade, which grew by 12.6% year-on-year.
As for the sales of jewelry and diamond jewelry, several brands reported good results in holiday trade, while others had mixed results. Tiffany & Co. Reported sales volume in the holiday season for $ 966 million, a slight increase compared to $ 961 million in the previous year. In North and South America, both total sales of $ 483 million, and the volume of comparable store sales fell by 4% compared with the corresponding period of 2015. The drop in sales in the US "was exacerbated by a 14% drop in the flagship store of this company on Fifth Avenue in New York" next to the Trump Tower, and this decline is explained "at least in part by traffic disturbances Transport in the post-election period ".
During the festive season, Amazon sold 10,451 carats of diamonds and 2.5 million hours. Amazon said that the volume of diamonds sold could be enough for six and a half tier "Russian Kokoshnik" (Russian Kokoshnik) of Queen Elizabeth II. During the holiday period, 2.5 million hours were bought on Amazon. This means that every 1.5 seconds sold only hours. The volume of goods sold, according to one online retailer, amounted to "the weight of a brown bear in gold."
During the festive season, Birks Group also worked well, which reports an 11% increase in sales. In the US, sales increased by 16%, and in Canada it grew by 3% compared to the previous holiday season.
It was also a good holiday season for the sale of Forevermark diamonds in the US. The sales volume of this delirium in the holiday season jumped by 6.4%. Total jewelry sales in December rose by 0.7%. The increase in sales in December for independent jewelers was 1.4%.
But not all jewelry brands showed growth. During the same period, Signet Jewelers showed a decline, mainly due to "a decrease in the efficiency of its Sterling electronic trading division," according to Gem Konnect. Total sales amounted to $ 1.94 billion, which is 5.1% lower than $ 2.045 billion in the previous year. Signet's electronic sales volume was $ 142.5 million, down 2.4% from $ 146 million in the previous year.
http://en.israelidiamond.co.il/News.aspx?boneID=2525&objID=17867
As for the sales of jewelry and diamond jewelry, several brands reported good results in holiday trade, while others had mixed results. Tiffany & Co. Reported sales volume in the holiday season for $ 966 million, a slight increase compared to $ 961 million in the previous year. In North and South America, both total sales of $ 483 million, and the volume of comparable store sales fell by 4% compared with the corresponding period of 2015. The drop in sales in the US "was exacerbated by a 14% drop in the flagship store of this company on Fifth Avenue in New York" next to the Trump Tower, and this decline is explained "at least in part by traffic disturbances Transport in the post-election period ".
During the festive season, Amazon sold 10,451 carats of diamonds and 2.5 million hours. Amazon said that the volume of diamonds sold could be enough for six and a half tier "Russian Kokoshnik" (Russian Kokoshnik) of Queen Elizabeth II. During the holiday period, 2.5 million hours were bought on Amazon. This means that every 1.5 seconds sold only hours. The volume of goods sold, according to one online retailer, amounted to "the weight of a brown bear in gold."
During the festive season, Birks Group also worked well, which reports an 11% increase in sales. In the US, sales increased by 16%, and in Canada it grew by 3% compared to the previous holiday season.
It was also a good holiday season for the sale of Forevermark diamonds in the US. The sales volume of this delirium in the holiday season jumped by 6.4%. Total jewelry sales in December rose by 0.7%. The increase in sales in December for independent jewelers was 1.4%.
But not all jewelry brands showed growth. During the same period, Signet Jewelers showed a decline, mainly due to "a decrease in the efficiency of its Sterling electronic trading division," according to Gem Konnect. Total sales amounted to $ 1.94 billion, which is 5.1% lower than $ 2.045 billion in the previous year. Signet's electronic sales volume was $ 142.5 million, down 2.4% from $ 146 million in the previous year.
http://en.israelidiamond.co.il/News.aspx?boneID=2525&objID=17867
Diamond community must support these efforts
Have you ever heard of the "tulip", the "soap bubble" in the market for tulip bulbs in Holland in the 1630s? At that time bulbs of tulips became a welcome commodity among wealthy Dutch consumers who considered them a symbol of status. The high demand for bulbs of tulips raised the prices for them on the wave of speculative trade, until demand fell and prices did not collapse. Some consider this instructive story a warning about investing in diamonds. But I believe that in this story there are some hidden lessons that we can derive for the benefit of the diamond industry.
"Tulipomania" developed not in an organized framework. It was a spontaneous speculative market with few standards, and not a very highly developed exchange with strict standards for classification and trading rules with long-term and stable fundamentals. But as Dutch consumers were interested in buying tulip bulbs, prices grew and remained stable. When they lost interest, prices fell sharply, as on any other asset on the stock exchange at the moment.
The lesson learned from the soap bubble associated with tulip bulbs is that when there is a group of people who understand and share the same idea, together they can create a market. This market will fluctuate when the confidence, moods and expectations of this group change. As in the case of gold, works of art, oil and currency, diamonds can be used as an asset that serves a group educated to understand and accept this asset - provided that the process of such education takes place in an organized and well thought out form.
How to do this
In order for diamonds to serve as an asset to preserve wealth, we need to create a critical mass of people who are interested in diamonds and are confident that whatever diamond they buy, they will find a buyer who will buy from them this asset by paying them Premium, just as we already do it with gold, bonds, shares, works of art, watches, old cars and many others. We should treat diamonds not as constituent elements of jewelry, but as an independent commodity: just as the Dutch were interested in tulip bulbs in the 17th century and just as many people were interested at that time and are now interested in works of art.
This group will create a resale value, which, in turn, will create demand and form a market. To make this happen, we need a critical mass of supporters who will maintain the stability of the value of traded diamonds.
There are many ways to create such a critical mass - mainly through marketing, education and transparency. I will go deeper about these issues later, since this is only the first article in a series on this topic. Today, first of all, I want to clearly emphasize the need to understand that we need to reach the critical mass of educated people who will buy, keep and sell diamonds as an asset. If we reach such a mass, we can cause a profound and profound change in the market. This change will give rise to a new reality when together we will form a new market for a type of diamonds that are rare but still available; Diamonds, which constitute a small percentage of the annual world output, but appear often enough to accurately track prices.
If "tulipmania" disturbs you, think about the art market. In my opinion, diamonds will be bought in the same way as we buy works of art that, unlike "tulipomania," stand firm. Most of the population understands, values and BELIEVES in art. These art buyers are educated in the history of art and know the history of the price increase, have full and free access to all the detailed information about the work of art that they are considering for purchase. This is what enables the market of works of art to flourish and be successful and allows its supporters to buy and profitably sell works of art. This is what we need for diamonds: people who believe in the idea of diamonds as an asset who know how diamonds are valued, And who have access to all the information necessary for an informed, reasonable purchase. Information generates confidence, confidence breeds security, and security generates a market for adherents. Having a critical mass of individuals, investors and financial firms, we will have a new market for diamonds.
Such a market can exist only when the broad community, the masses see the opportunity and can act on this basis. Our task is to create a number of adherents of the market and increase the mass. A good example is the increase in the trade in blue and pink diamonds, which was observed after I sold at a record price diamonds "Blue Moon" (Blue Moon) and "Unique Pink" (Unique Pink). These cases spurred the sales of blue and pink diamonds, including diamonds of "Oppenheimer Blue", "Millennium Blue" and others. This shows how the cost of resale is created with the help of supply and demand. At present, we have a stable market for diamonds of fantasy colors with good and stable prices.
One more thing: the diamond community must support these efforts. Taking into account the growing number of diamonds grown in the laboratory, the resulting reduction in profits, the unequal conditions of the game due to the different rules applied differently in the world, the shift in the centers of trade and the production of diamonds, and the fact that the diamond industry is becoming a provider of services, Or real growth, we can say that we have never faced more significant challenges. It's time to accept the idea that diamonds are a means of preserving wealth: an asset, and not just a constituent element in a piece of jewelry. Through education, transparency and proper marketing, we will be able to change our destiny, turning a new broader base of buyers into like-minded people. I believe in such a rare future, High-quality white diamonds weighing two carats and above. Ultimately, how many diamonds inserted in jewelry can buy one buyer? But buying diamonds as an investment is a completely different matter.
http://www.ehudlaniado.com/home/index.php/news/entry/from-tulips-to-diamonds-why-it-s-time-to-rethink-the-diamond-market
"Tulipomania" developed not in an organized framework. It was a spontaneous speculative market with few standards, and not a very highly developed exchange with strict standards for classification and trading rules with long-term and stable fundamentals. But as Dutch consumers were interested in buying tulip bulbs, prices grew and remained stable. When they lost interest, prices fell sharply, as on any other asset on the stock exchange at the moment.
The lesson learned from the soap bubble associated with tulip bulbs is that when there is a group of people who understand and share the same idea, together they can create a market. This market will fluctuate when the confidence, moods and expectations of this group change. As in the case of gold, works of art, oil and currency, diamonds can be used as an asset that serves a group educated to understand and accept this asset - provided that the process of such education takes place in an organized and well thought out form.
How to do this
In order for diamonds to serve as an asset to preserve wealth, we need to create a critical mass of people who are interested in diamonds and are confident that whatever diamond they buy, they will find a buyer who will buy from them this asset by paying them Premium, just as we already do it with gold, bonds, shares, works of art, watches, old cars and many others. We should treat diamonds not as constituent elements of jewelry, but as an independent commodity: just as the Dutch were interested in tulip bulbs in the 17th century and just as many people were interested at that time and are now interested in works of art.
This group will create a resale value, which, in turn, will create demand and form a market. To make this happen, we need a critical mass of supporters who will maintain the stability of the value of traded diamonds.
There are many ways to create such a critical mass - mainly through marketing, education and transparency. I will go deeper about these issues later, since this is only the first article in a series on this topic. Today, first of all, I want to clearly emphasize the need to understand that we need to reach the critical mass of educated people who will buy, keep and sell diamonds as an asset. If we reach such a mass, we can cause a profound and profound change in the market. This change will give rise to a new reality when together we will form a new market for a type of diamonds that are rare but still available; Diamonds, which constitute a small percentage of the annual world output, but appear often enough to accurately track prices.
If "tulipmania" disturbs you, think about the art market. In my opinion, diamonds will be bought in the same way as we buy works of art that, unlike "tulipomania," stand firm. Most of the population understands, values and BELIEVES in art. These art buyers are educated in the history of art and know the history of the price increase, have full and free access to all the detailed information about the work of art that they are considering for purchase. This is what enables the market of works of art to flourish and be successful and allows its supporters to buy and profitably sell works of art. This is what we need for diamonds: people who believe in the idea of diamonds as an asset who know how diamonds are valued, And who have access to all the information necessary for an informed, reasonable purchase. Information generates confidence, confidence breeds security, and security generates a market for adherents. Having a critical mass of individuals, investors and financial firms, we will have a new market for diamonds.
Such a market can exist only when the broad community, the masses see the opportunity and can act on this basis. Our task is to create a number of adherents of the market and increase the mass. A good example is the increase in the trade in blue and pink diamonds, which was observed after I sold at a record price diamonds "Blue Moon" (Blue Moon) and "Unique Pink" (Unique Pink). These cases spurred the sales of blue and pink diamonds, including diamonds of "Oppenheimer Blue", "Millennium Blue" and others. This shows how the cost of resale is created with the help of supply and demand. At present, we have a stable market for diamonds of fantasy colors with good and stable prices.
One more thing: the diamond community must support these efforts. Taking into account the growing number of diamonds grown in the laboratory, the resulting reduction in profits, the unequal conditions of the game due to the different rules applied differently in the world, the shift in the centers of trade and the production of diamonds, and the fact that the diamond industry is becoming a provider of services, Or real growth, we can say that we have never faced more significant challenges. It's time to accept the idea that diamonds are a means of preserving wealth: an asset, and not just a constituent element in a piece of jewelry. Through education, transparency and proper marketing, we will be able to change our destiny, turning a new broader base of buyers into like-minded people. I believe in such a rare future, High-quality white diamonds weighing two carats and above. Ultimately, how many diamonds inserted in jewelry can buy one buyer? But buying diamonds as an investment is a completely different matter.
http://www.ehudlaniado.com/home/index.php/news/entry/from-tulips-to-diamonds-why-it-s-time-to-rethink-the-diamond-market
This forced the non-sectoral banks to be cautious about diamonds and diamantaires
This year the diamond industry has gained a bit of legitimacy, as more and more companies meet the standards set by banks, regulators and suppliers, even if they are still burdened with high-risk transactions.
Such an improvement was given with great difficulty, and it has not yet ended. Branches still have much to do in order to completely abandon the tradition, for example, making deals by simply shaking hands and wishing good luck.
But industry leaders believe that in the long term it is important to make the industry meet the criteria for bank financing and profitable.
"Ultimately, this is a survival strategy," said Howard Davies, vice president of commercial development for De Beers. "The market may remain turbulent, but companies that work in accordance with the requirements will be better able to cope with volatility."
Global laws have influenced the demand for transparency, improved governance and accountability, and the diamond industry must move in accordance with the demands of the times, added Ernie Blom, president of the World Federation of Diamond Bourses (WFDB).
Toughening requirements for the use of cash
The banking sector tightened its lending requirements, as compliance issues came to the fore after the financial crisis of 2008 and since Basel standards were introduced even earlier, explained Erik Jens, head of the ABN Amro customer service department for diamond And the jewelry industry.
In addition, the diamond sector is subject to even more scrutiny, taking into account the stringent measures for using cash.
The sudden withdrawal of high-value banknotes in India in November drew attention to trade, even if it was not specifically aimed at the diamond market. Although the demonetization policy pursued by the government, aimed at eradicating money laundering and other types of "subversive activities" in India, it actually froze the activity of small family jewelry firms and diamond dealers.
Other countries have taken similar measures in the past, although less resolute. Italy banned cash payments for purchases in excess of EUR 1,000 in 2011, affecting the purchase of luxury goods, even though the amount was raised to EUR 3,000 that year. Germany's proposal in February to prohibit the payment of cash in excess of EUR 5000 was postponed indefinitely after a drastically negative reaction, but many believe that it will actually pass.
Theoretically, the reduction in the use of cash had to sharply spur demand for diamonds, which, unlike cash, did not lose their ability to save value. But as banks and regulators tightened their control measures, the industry is less willing to deal with cash or accept payment by undeclared money.
Trading on the black market may have determined the diamond industry in the past, but Blom stressed that her use of cash was drastically reduced by laws against money laundering. "There is no possibility of using cash in such transactions with large lots at the present time," he said.
Roadmap for achieving compliance
Still, a suspicious attitude to the industry persists, and regulators have long accused trade participants of undeclared taxable incomes, especially in Belgium and Israel. This increased transaction-related risks, as the cash-using business and undeclared transactions "arouse fears" among banks, taking into account the opportunities associated with violating anti-money laundering laws, Davis explained.
Therefore, a platform was needed to ensure a higher level of accountability and transparency. The banks exerted pressure, and the diamond sector and the retail sector also demanded higher compliance with requirements from their partners in the middle part of the diamond pipeline, Jens noted.
De Beers made compliance with financial requirements its top priority when it established its requirements for contracts with new sightholders as early as 2014, and sightholders expressed their commitment to the road map that will operate in 2017. To do this, they will need to compile consolidated financial statements that comply with international financial reporting standards and are subjected to an independent audit performed by an approved auditor. Since 2017, they also have to respect the ratio of their own and borrowed funds at a rate of 70:30, which De Beers requires.
Modifying paths
Three years ago, only a handful of openly registered sightholders had proper reporting, Davis said. Now about half of the 85 sightholders carry out a road map, which is required of them, he said. If they do not yet fulfill it, they need to achieve this goal in the reporting year beginning on 1 January.
The transition to greater legitimacy and transparency gradually influenced the rest of the trade that followed.
Davis observed that the confirmation of this is the number of companies to which De Beers granted the status of "accredited buyer" - the second level of customers who are entitled to a superplan product in addition to the volume offered to them as sightholders. Accredited buyers, who are usually small and medium-sized diamond companies, need to comply with a full set of legal documents. Eight new meetings have already been scheduled during the current contract period, and much more is still available in the diamond pipeline, Davis said.
Blom noted similar actions among members of the exchange, and WFDB made compliance with the requirements a major part of its agenda. Thus, the theme of the World Diamond Congress, held this year in Dubai, was compliance, and the trade authority plans to hold a relevant "diamond financing seminar" in Mumbai on 5-8 February. Jens appreciated this work and noted that medium-sized and medium-sized companies are moving in the right direction, as they understand that "it's simply impossible to conduct business in the old way".
Ultimately, the banks refused, first of all, precisely from traditional methods of doing business, which, mainly, forced them to withdraw from lending to diamonds and diamonds. This prompted banks like Antwerp Diamond Bank (ADB) and Israeli Bank Leumi to close their doors, while other banks, for example, First International Bank of Israel (FIBI) and Standard Chartered Bank, are winding down their operations. This forced the non-sectoral banks to be cautious about diamantaires.
Preservation of liquidity problems
In Belgium, it is not even possible to open a bank account for your personal needs if you are involved in diamond trading, said Shashin Choksi, whose Swati Gems company, based in Antwerp, deals with diamonds and diamonds.
At the end of 2015, the Belgian state bank Belfius somewhat unsuccessfully stated in its "policy of determining the acceptability of customers" that "[he] will not allow client relations with individuals or organizations ... if commercial activities were related to the trade in arms or diamonds and diamonds."
Choxy said his personal account, which he had for 40 years in Belfius, and another account owned by his wife for 20 years, were subsequently closed down for "ethical reasons", which had nothing to do with the company's commercial activities His wife. Hundreds of other people associated with the diamond industry have faced the same, he said, stressing that it became difficult to get an account in Belgium since ADB decided to withdraw from this trade.
"The problem is that banks are closing the doors for the whole industry, instead of considering individual customers," said a member of the Belgian diamond industry who understands the problem and notes that political lobbying was conducted to mitigate the situation.
Belfius did not respond to Rapaport's request to comment on this case.
Finding new ways of financing
Such cautious and declining lines of credit have highlighted the need for greater compliance over the years. And, taking into account the progress made in 2016, trade begins to see the benefits of having a "base that more satisfies the criteria for bank financing," Davis said.
"Specialization reduces risk and gives existing banks greater confidence in transactions," he said. "It also opens the doors to other banks, as well as nonbank financing, which has appeared in the last few months, because this is now considered normal business financing."
The Belgian industry is looking for new ways of financing, for example, Fin-Tech or blocking technology (chain of transaction blocks). She also held a seminar on financing in London last month to familiarize the financial industry with the diamond market.
"They do not know us and therefore are afraid of the diamond industry," the official said. - The reality of the industry's compliance with requirements has changed, but the view of noncompliance still exists. Therefore, we are trying to fill this gap. "
Creating a Normal Market
Major successes are being made, and other risk factors are also reducing.
The introduction of the "carat tax" in Belgium was largely positive and would allow companies to "focus on their business, rather than on documentation," Jens said. "The tax reduces the risks of the industry and the view of tax evasion, which puts Belgium in a favorable position."
Similarly, it is said that the Israeli Diamond Exchange (IDE) is close to concluding an agreement with the tax authorities, which will put an end to the four-year investigation on the stock exchange. Yoram Dvash, president of IDE, said the deal, which also clarifies how diamond companies report and pay undeclared taxes over the past period, will free trade so that it focuses on developing its business in a market environment still experiencing Difficulties.
In fact, industry experts who spoke with Rapaport News warned that since the diamond market still has volatility and is expected to tighten rules on compliance in all business segments, weaker companies that can not meet them will inevitably undergo consolidation .
But Jens says that there are money for good companies. And it seems that the industry is in a much more stable state than a year ago, as more and more companies are ready to confirm their legitimacy by ensuring compliance with the standards that are required of them.
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=58324&ArticleTitle=Diamond%2bIndustry%2bNow%2bBanking%2bon%2bLegitimacy
Such an improvement was given with great difficulty, and it has not yet ended. Branches still have much to do in order to completely abandon the tradition, for example, making deals by simply shaking hands and wishing good luck.
But industry leaders believe that in the long term it is important to make the industry meet the criteria for bank financing and profitable.
"Ultimately, this is a survival strategy," said Howard Davies, vice president of commercial development for De Beers. "The market may remain turbulent, but companies that work in accordance with the requirements will be better able to cope with volatility."
Global laws have influenced the demand for transparency, improved governance and accountability, and the diamond industry must move in accordance with the demands of the times, added Ernie Blom, president of the World Federation of Diamond Bourses (WFDB).
Toughening requirements for the use of cash
The banking sector tightened its lending requirements, as compliance issues came to the fore after the financial crisis of 2008 and since Basel standards were introduced even earlier, explained Erik Jens, head of the ABN Amro customer service department for diamond And the jewelry industry.
In addition, the diamond sector is subject to even more scrutiny, taking into account the stringent measures for using cash.
The sudden withdrawal of high-value banknotes in India in November drew attention to trade, even if it was not specifically aimed at the diamond market. Although the demonetization policy pursued by the government, aimed at eradicating money laundering and other types of "subversive activities" in India, it actually froze the activity of small family jewelry firms and diamond dealers.
Other countries have taken similar measures in the past, although less resolute. Italy banned cash payments for purchases in excess of EUR 1,000 in 2011, affecting the purchase of luxury goods, even though the amount was raised to EUR 3,000 that year. Germany's proposal in February to prohibit the payment of cash in excess of EUR 5000 was postponed indefinitely after a drastically negative reaction, but many believe that it will actually pass.
Theoretically, the reduction in the use of cash had to sharply spur demand for diamonds, which, unlike cash, did not lose their ability to save value. But as banks and regulators tightened their control measures, the industry is less willing to deal with cash or accept payment by undeclared money.
Trading on the black market may have determined the diamond industry in the past, but Blom stressed that her use of cash was drastically reduced by laws against money laundering. "There is no possibility of using cash in such transactions with large lots at the present time," he said.
Roadmap for achieving compliance
Still, a suspicious attitude to the industry persists, and regulators have long accused trade participants of undeclared taxable incomes, especially in Belgium and Israel. This increased transaction-related risks, as the cash-using business and undeclared transactions "arouse fears" among banks, taking into account the opportunities associated with violating anti-money laundering laws, Davis explained.
Therefore, a platform was needed to ensure a higher level of accountability and transparency. The banks exerted pressure, and the diamond sector and the retail sector also demanded higher compliance with requirements from their partners in the middle part of the diamond pipeline, Jens noted.
De Beers made compliance with financial requirements its top priority when it established its requirements for contracts with new sightholders as early as 2014, and sightholders expressed their commitment to the road map that will operate in 2017. To do this, they will need to compile consolidated financial statements that comply with international financial reporting standards and are subjected to an independent audit performed by an approved auditor. Since 2017, they also have to respect the ratio of their own and borrowed funds at a rate of 70:30, which De Beers requires.
Modifying paths
Three years ago, only a handful of openly registered sightholders had proper reporting, Davis said. Now about half of the 85 sightholders carry out a road map, which is required of them, he said. If they do not yet fulfill it, they need to achieve this goal in the reporting year beginning on 1 January.
The transition to greater legitimacy and transparency gradually influenced the rest of the trade that followed.
Davis observed that the confirmation of this is the number of companies to which De Beers granted the status of "accredited buyer" - the second level of customers who are entitled to a superplan product in addition to the volume offered to them as sightholders. Accredited buyers, who are usually small and medium-sized diamond companies, need to comply with a full set of legal documents. Eight new meetings have already been scheduled during the current contract period, and much more is still available in the diamond pipeline, Davis said.
Blom noted similar actions among members of the exchange, and WFDB made compliance with the requirements a major part of its agenda. Thus, the theme of the World Diamond Congress, held this year in Dubai, was compliance, and the trade authority plans to hold a relevant "diamond financing seminar" in Mumbai on 5-8 February. Jens appreciated this work and noted that medium-sized and medium-sized companies are moving in the right direction, as they understand that "it's simply impossible to conduct business in the old way".
Ultimately, the banks refused, first of all, precisely from traditional methods of doing business, which, mainly, forced them to withdraw from lending to diamonds and diamonds. This prompted banks like Antwerp Diamond Bank (ADB) and Israeli Bank Leumi to close their doors, while other banks, for example, First International Bank of Israel (FIBI) and Standard Chartered Bank, are winding down their operations. This forced the non-sectoral banks to be cautious about diamantaires.
Preservation of liquidity problems
In Belgium, it is not even possible to open a bank account for your personal needs if you are involved in diamond trading, said Shashin Choksi, whose Swati Gems company, based in Antwerp, deals with diamonds and diamonds.
At the end of 2015, the Belgian state bank Belfius somewhat unsuccessfully stated in its "policy of determining the acceptability of customers" that "[he] will not allow client relations with individuals or organizations ... if commercial activities were related to the trade in arms or diamonds and diamonds."
Choxy said his personal account, which he had for 40 years in Belfius, and another account owned by his wife for 20 years, were subsequently closed down for "ethical reasons", which had nothing to do with the company's commercial activities His wife. Hundreds of other people associated with the diamond industry have faced the same, he said, stressing that it became difficult to get an account in Belgium since ADB decided to withdraw from this trade.
"The problem is that banks are closing the doors for the whole industry, instead of considering individual customers," said a member of the Belgian diamond industry who understands the problem and notes that political lobbying was conducted to mitigate the situation.
Belfius did not respond to Rapaport's request to comment on this case.
Finding new ways of financing
Such cautious and declining lines of credit have highlighted the need for greater compliance over the years. And, taking into account the progress made in 2016, trade begins to see the benefits of having a "base that more satisfies the criteria for bank financing," Davis said.
"Specialization reduces risk and gives existing banks greater confidence in transactions," he said. "It also opens the doors to other banks, as well as nonbank financing, which has appeared in the last few months, because this is now considered normal business financing."
The Belgian industry is looking for new ways of financing, for example, Fin-Tech or blocking technology (chain of transaction blocks). She also held a seminar on financing in London last month to familiarize the financial industry with the diamond market.
"They do not know us and therefore are afraid of the diamond industry," the official said. - The reality of the industry's compliance with requirements has changed, but the view of noncompliance still exists. Therefore, we are trying to fill this gap. "
Creating a Normal Market
Major successes are being made, and other risk factors are also reducing.
The introduction of the "carat tax" in Belgium was largely positive and would allow companies to "focus on their business, rather than on documentation," Jens said. "The tax reduces the risks of the industry and the view of tax evasion, which puts Belgium in a favorable position."
Similarly, it is said that the Israeli Diamond Exchange (IDE) is close to concluding an agreement with the tax authorities, which will put an end to the four-year investigation on the stock exchange. Yoram Dvash, president of IDE, said the deal, which also clarifies how diamond companies report and pay undeclared taxes over the past period, will free trade so that it focuses on developing its business in a market environment still experiencing Difficulties.
In fact, industry experts who spoke with Rapaport News warned that since the diamond market still has volatility and is expected to tighten rules on compliance in all business segments, weaker companies that can not meet them will inevitably undergo consolidation .
But Jens says that there are money for good companies. And it seems that the industry is in a much more stable state than a year ago, as more and more companies are ready to confirm their legitimacy by ensuring compliance with the standards that are required of them.
http://www.diamonds.net/News/NewsItem.aspx?ArticleID=58324&ArticleTitle=Diamond%2bIndustry%2bNow%2bBanking%2bon%2bLegitimacy
Real brick jewelry stores in the world today seem to be struggling desperately with online stores
Ritani, formerly a wholesaler, turned into an online jewelry company valued at USD 50 million. In the Forbes list, it ranks 40th among the most promising companies in America. The online jewelry company mainly sells wedding bands, wedding jewelry along with other diamond jewelry. Starting retail trade in 2012, it has 8 million unique views per year. Julius Klein Group, one of the largest diamond producers in the United States, partly owns the company Ritani, because it understands the power of the Internet, according to a spokesman for the Klein group.
The presence in online space helps Ritani understand customers more deeply in order to significantly increase sales. But this is not the only reason for its success. The main reason is the way that she chose to position herself. Ritani used the strengths of both the online and the real business models to find the golden mean and prepare for the future.
The shortcomings of electronic commerce are very noticeable for the diamond industry. Physical inspection and fitting of the product are one of the most important factors in costly purchases, for example, diamond jewelry. Real brick jewelry stores in the world today seem to be struggling desperately with online stores, improving the quality of customer service, increasing customer awareness and giving the right advice during their purchases, drawing attention to "star" advertising, and so on.
To overcome these obstacles, Ritani resorted to the "virtual and real" model (combining the convenience of online shopping with visiting real stores), within which it establishes partnerships with independent jewelers around the country. Customers can search for products on the Internet, order their design and the product on the website of Ritani, and a week later visit a local store for trying on the ordered product. In this case, customers can refuse to purchase goods. But Mark Keeney, vice president of marketing, says: "The likelihood of making purchases is very, very high."
230 real jewelry shops that have partnerships with Ritani have the exclusive right to their zip code. They receive a percentage of the profits from any sale in their zone, even if buyers order the goods at their home addresses. The 100-year-old company Wilson & Son, now owned by Michael Wilson in Westchester, began collaborating with Ritani about two years ago. When he was approached, he really liked the idea of such a partnership.
He says: "The number of buyers we have decreased, because there is too much competition on the Internet ... I, as a regional store, do not have such power in marketing as Ritani". Expressing his consent to this partnership, he said: "Westchester is a very prosperous place, but people are too shy when it comes to going to a jewelry store. This partnership has attracted to me a younger population and more diverse in terms of culture and economic aspects. This led to the emergence of excellent relations. "
2015 was the best for Ritani - the revenues amounted to USD 75 million. The company attributes most of this success to the "virtual and real" model. Similarly, several other jewelry stores have begun to apply this hybrid business model.
https://betterdiamondinitiative.org/jewelry-industrys-clicks-bricks-model-turns-successful/
The presence in online space helps Ritani understand customers more deeply in order to significantly increase sales. But this is not the only reason for its success. The main reason is the way that she chose to position herself. Ritani used the strengths of both the online and the real business models to find the golden mean and prepare for the future.
The shortcomings of electronic commerce are very noticeable for the diamond industry. Physical inspection and fitting of the product are one of the most important factors in costly purchases, for example, diamond jewelry. Real brick jewelry stores in the world today seem to be struggling desperately with online stores, improving the quality of customer service, increasing customer awareness and giving the right advice during their purchases, drawing attention to "star" advertising, and so on.
To overcome these obstacles, Ritani resorted to the "virtual and real" model (combining the convenience of online shopping with visiting real stores), within which it establishes partnerships with independent jewelers around the country. Customers can search for products on the Internet, order their design and the product on the website of Ritani, and a week later visit a local store for trying on the ordered product. In this case, customers can refuse to purchase goods. But Mark Keeney, vice president of marketing, says: "The likelihood of making purchases is very, very high."
230 real jewelry shops that have partnerships with Ritani have the exclusive right to their zip code. They receive a percentage of the profits from any sale in their zone, even if buyers order the goods at their home addresses. The 100-year-old company Wilson & Son, now owned by Michael Wilson in Westchester, began collaborating with Ritani about two years ago. When he was approached, he really liked the idea of such a partnership.
He says: "The number of buyers we have decreased, because there is too much competition on the Internet ... I, as a regional store, do not have such power in marketing as Ritani". Expressing his consent to this partnership, he said: "Westchester is a very prosperous place, but people are too shy when it comes to going to a jewelry store. This partnership has attracted to me a younger population and more diverse in terms of culture and economic aspects. This led to the emergence of excellent relations. "
2015 was the best for Ritani - the revenues amounted to USD 75 million. The company attributes most of this success to the "virtual and real" model. Similarly, several other jewelry stores have begun to apply this hybrid business model.
https://betterdiamondinitiative.org/jewelry-industrys-clicks-bricks-model-turns-successful/
Friday, July 28, 2017
She focused on what she thought was the opportunity: on precious jewelry.
Debra LaBudde has decades of experience in providing advice on new and unused markets. Therefore, when Debra founded her own company last year, she focused on what she thought was the opportunity: on precious jewelry.
"I think that there is a kind of undeveloped market, believe it or not, for precious jewelry," explained La Buddha. - (I saw) an interesting opportunity in the market, which, in my opinion, was not used in sufficient measure, and that I could certainly increase the market. "
This Memo project is the response of La Buddha to what she believes is lacking in single-channel retail models - tactile, personal access to jewelry, which is in the service of real stores, coupled with the convenience and affordability of online purchases.
The time period specified in the Memo information for "free fitting of the house" eliminates this drawback.
When customers order a product on ExperienceMemo.com, they are delivered to them free of charge in two days, and they have three days to try it on and evaluate the product before it is paid for. If they are not satisfied, they can return it during this time for free, as indicated in the Memo information.
All stock intended for the Memo project is available, and in case of a return, this product is returned there.
"I wonder what's going on at home (when you try on jewelry), because I myself had such a case, and this is a very special feeling," La Buddha said. "Obviously, security measures are being taken, but there is a great deal of trust that is also present here, and the mutual respect that we feel for clients is quite striking."
In order to guarantee itself against theft, Memo collects information about the credit card before sending the jewelry to consumers, as with traditional online purchases, to withdraw money when the three-day trial period ends. They also spend the reservation of amounts on the bank card before sending the goods in order to protect themselves from fraudulent credit card orders.
La Buddha is aimed at giving the electronic memorial service on the Memo project the same personal and connecting character that can be obtained when shopping in a well-managed independent boutique.
In addition to the time for the fitting of the house, La Buddha achieves this through the content of the site. Buyers can find out about the designers whose work Memo presents with skillfully created video interviews on the site (five of the 12 designers are currently represented), as well as detailed descriptions of individual products by their creators.
"Our platform is so rich from a visual point of view," La Buddha said. "I think we can tell an interesting story about collections and designers."
Precious jewelry is the "personal passion" of La Buddha. When she worked on the boards of companies and traveled to different cities around the world for work, she really liked to discover different jewelry boutiques, meet with designers and listen to their stories.
"When I traveled less, I still tried to find new products and new designers, but I realized that it is difficult to have the same close relationship on the Internet," said the business lady from Rochester, New York.
The initial reason for the creation of the Memo in La Buddha was the desire to make available such a quality of service, focused on the wishes of the client.
Every aspect of the unconventional retailing process under the Memo project is the result of several months of consumer research, finding out what people like and dislike when shopping in an online store or in a real store.
La Buddha found out that buyers, like herself, like the availability of online shopping, but the service lacked certain elements of shopping in the store that they like.
"We are now living in a world in which people are used to the Internet and the amenities that it creates," she explained, "but getting the convenience, you sacrifice sometimes other aspects - the relationships that arise if you meet directly with the designer. This is our decision to unite it. "
She continued: "When we created Memo, it took us quite a long time not to try to force a model or technology (jewelry) industry, but really look at the industry and hear from both customers and designers what is needed."
La Buddha said that her customers, mostly women who themselves make purchases for themselves, are still learning the nature of the Memo service, and Memo is making progress in making e-commerce oriented to people.
http://www.nationaljeweler.com/independents/ecommerce/5474-e-commerce-site-memo-lets-consumers-try-before-they-buy
"I think that there is a kind of undeveloped market, believe it or not, for precious jewelry," explained La Buddha. - (I saw) an interesting opportunity in the market, which, in my opinion, was not used in sufficient measure, and that I could certainly increase the market. "
This Memo project is the response of La Buddha to what she believes is lacking in single-channel retail models - tactile, personal access to jewelry, which is in the service of real stores, coupled with the convenience and affordability of online purchases.
The time period specified in the Memo information for "free fitting of the house" eliminates this drawback.
When customers order a product on ExperienceMemo.com, they are delivered to them free of charge in two days, and they have three days to try it on and evaluate the product before it is paid for. If they are not satisfied, they can return it during this time for free, as indicated in the Memo information.
All stock intended for the Memo project is available, and in case of a return, this product is returned there.
"I wonder what's going on at home (when you try on jewelry), because I myself had such a case, and this is a very special feeling," La Buddha said. "Obviously, security measures are being taken, but there is a great deal of trust that is also present here, and the mutual respect that we feel for clients is quite striking."
In order to guarantee itself against theft, Memo collects information about the credit card before sending the jewelry to consumers, as with traditional online purchases, to withdraw money when the three-day trial period ends. They also spend the reservation of amounts on the bank card before sending the goods in order to protect themselves from fraudulent credit card orders.
La Buddha is aimed at giving the electronic memorial service on the Memo project the same personal and connecting character that can be obtained when shopping in a well-managed independent boutique.
In addition to the time for the fitting of the house, La Buddha achieves this through the content of the site. Buyers can find out about the designers whose work Memo presents with skillfully created video interviews on the site (five of the 12 designers are currently represented), as well as detailed descriptions of individual products by their creators.
"Our platform is so rich from a visual point of view," La Buddha said. "I think we can tell an interesting story about collections and designers."
Precious jewelry is the "personal passion" of La Buddha. When she worked on the boards of companies and traveled to different cities around the world for work, she really liked to discover different jewelry boutiques, meet with designers and listen to their stories.
"When I traveled less, I still tried to find new products and new designers, but I realized that it is difficult to have the same close relationship on the Internet," said the business lady from Rochester, New York.
The initial reason for the creation of the Memo in La Buddha was the desire to make available such a quality of service, focused on the wishes of the client.
Every aspect of the unconventional retailing process under the Memo project is the result of several months of consumer research, finding out what people like and dislike when shopping in an online store or in a real store.
La Buddha found out that buyers, like herself, like the availability of online shopping, but the service lacked certain elements of shopping in the store that they like.
"We are now living in a world in which people are used to the Internet and the amenities that it creates," she explained, "but getting the convenience, you sacrifice sometimes other aspects - the relationships that arise if you meet directly with the designer. This is our decision to unite it. "
She continued: "When we created Memo, it took us quite a long time not to try to force a model or technology (jewelry) industry, but really look at the industry and hear from both customers and designers what is needed."
La Buddha said that her customers, mostly women who themselves make purchases for themselves, are still learning the nature of the Memo service, and Memo is making progress in making e-commerce oriented to people.
http://www.nationaljeweler.com/independents/ecommerce/5474-e-commerce-site-memo-lets-consumers-try-before-they-buy
History of the production of diamonds grown in a lab
Recently we looked at the history of the production of diamonds grown in a lab and watched as it began in the late 1800s. Although the equipment for growing diamonds has improved immensely over the past few decades, the current methodology is not very different from what it was in the 1950s, when GE first began mass production of synthetic quality diamonds. Currently, there are two main methods of producing diamonds, which most people in the industry are familiar with. But there are other processes that are now expensive and can not be used for mass production of diamonds of any quality. But with the improvement of technology and, As for the production of diamonds will begin to apply other technologies designed for other industries, we can still see new achievements. Let's take a closer look at how diamonds are synthesized in laboratories at the present time.
The method of high pressure at high temperatures (HPNT) is the most common at present for the production of diamonds. In fact, it was with this method that the very first researchers experimented. As the name suggests, the HPNT method attempts to recreate the pressure and temperature existing in the interior of the Earth where diamonds are formed. This usually requires a pressure of more than 5 GPa (gigapascal) and temperatures above 1500 ° C. For the HPHT method, a seed crystal is necessary, on which subsequent layers of carbon will grow until it reaches the desired size, simulating the actual growth process in the interior of the Earth. The carbon source is introduced into the metal solution. When the metal is heated, the carbon melts and dissolves, which solidifies into diamond under enormous pressure.
Currently, there are three basic designs of presses used in the production of diamonds by the HPHT method. The first is a tape press, originally designed by Tracy Hall, GE engineer, in 1954. In a belt press, two plates pressurize the top and bottom of the tape of compressed steel strips, and at the same time electric current is passed through the steel. In more modern tape presses, the opposite hydraulic pressure, rather than steel strips, is used to control the lateral pressure force. The current tape presses are usually much larger than those used by GE in the 1950s, but the principle is basically the same. The second design of the press is a cubic press in which six plates simultaneously apply force to a cubic capacity, Containing a diamond seed and a metal medium. A cubic press can create a diamond quite quickly compared to a strip press, but it is less effective in producing large diamonds due to the exponential increase in pressure required when the volume of the medium in a cubic capacity increases.
Probably the most common design of the press is a BARS-type device, or a "halved sphere". It turned out to be the most economical, compact and effective design of the press for use in the cultivation of diamond crystals, and is also effective for the cultivation of large diamonds, sometimes larger than 10 carats. Initially invented by Russian scientists in the late 1980s, it can reach pressures of about 10 GPa and a temperature of up to 2500 ° C. In the center of the "sphere" is a cylindrical capsule, which can reach a size of up to one cubic inch and is made of materials that transmit pressure. This capsule is surrounded by six inner plates of tungsten carbide, which are well adapted to form a two-sided pyramid. This pyramid itself is placed in another set of steel plates, Forming two hemispheres (hence the term "halved sphere"). The whole device is placed in the body in the form of a toroidal chamber with a diameter of one meter. This body is then filled with oil heated to extremely high temperatures. The expansion of the oil creates the necessary force and presses the device in order to cause the growth of the diamond. ( ehudlaniado.com )
It provides not only wholesale prices for diamonds
The consumer market of the United States is a key market for the diamond industry, accounting for about 40% of global demand from a cost standpoint. At the same time, although the US is the leading market, it is good or bad - very stable. Despite the fact that sustainability in business is a valuable thing, it is difficult to create a driving force for growth in a stable environment.
It was for the American market that De Beers commissioned the advertising agency to develop its first marketing program, which gave birth to the slogan "a diamond is forever", considered the most successful in the history of advertising. With the help of this slogan, as well as advertising in print, on the radio and on TV, diamonds have become a necessity in the collection of every woman. More importantly, it became almost necessary for each engagement ring to have an insert from a diamond. Until now, the market of wedding jewelry accounts for more than 40% of demand for the value of diamonds in the US consumer market.
The trajectory of growth began after the Second World War. During the war, the American economy was focused on supporting military efforts. Freed from this economic burden, the American economy grew rapidly, the working class shrank and the middle class increased, as the cost of living decreased, access to more consumer goods increased, and discretionary income increased. Taking into account this growth, access to diamond jewelry was no longer limited to members of the royal family and wealthy people, and almost everyone had it.
The end of the war was marked by three demographic phenomena: a sharp increase in the number of marriages, a decrease in the average age of marriage and a sharp increase in the birth rate. It was a generation of baby boomers - children born during the post-war demographic explosion. In the short term, the increase in the number of weddings naturally increased the demand for engagement rings and diamonds in the form of inserts in them, but baby boomers caused long-term changes - the population growth and the constant expansion of the consumer market, and with it the growing demand for diamonds.
Having reached their middle age, baby boomers continued to cause an increase in demand for diamond jewelry when they married, and when celebrating life events, reached the top of their earnings when their children graduated from college, and today, when their children get married. They served as an excellent driving force in the sales of jewelry. But if you look at the demographic picture of the United States, baby boomers have reached the peak of their earnings and their spending is declining. Who will replace them as the biggest buyers? From this perspective, the US consumer market is worrying. Generations "X" and "Y" are not persons carrying out large expenses, and for millenials - a generation of two thousandths - has never really been affected by the slogan "The diamond is forever".
Changes in American culture, perhaps, lead consumers away from diamonds. Few of those who for 20 and 30 years, marry, as was the case with baby boomers. Taking into account the decrease in the number of weddings, the large driving force has noticeably diminished - the purchase of a diamond engagement ring. Considering the fact that there are fewer weddings and the age of marriage is postponed, wedding anniversaries are less, and this is another blow to the purchase of diamond jewelry. This change also leads to the fact that later in life give birth to children, and in turn, therefore, later the celebration of life events and the purchase of large gifts, for example, diamond jewelry to commemorate these events. These changes also lead to the creation of own capital at a later age.
One aspect of cultural change in the United States in recent years is the shift from buying "things" to spending money on "impressions and services" - by buying a more beautiful car, a home, a second home and diamond jewelry. A more careful study of the attitude towards diamonds, in particular, opens another layer of sentiment affecting the demand for diamonds. When offering diamonds, there was always an emotional aspect - this is how diamonds were presented to people. Understanding the existing attitude towards diamonds, we see that many are asking themselves why they need a diamond. Others feel that the diamond does not necessarily symbolize eternal love. Also, the opinion about the cost is growing stronger, that the prices for diamonds are inflated and they do not reflect their value.
As it was said before, the attempt to combat various social norms is not suitable for the diamond industry. We can change attitudes to diamonds, especially to expensive diamonds, and transparency is important here. The sale of diamonds as part of jewelry is likely to remain forever, or at least in the foreseeable future. But I doubt that this will be an important growth opportunity. Look at the most recent results of Signet, the largest diamond jewelery retailer in the United States and the parent company Jared, Kay and Zale: in the first quarter of 2017, the total volume of comparable sales fell 11.5%. Sales volumes at Jared decreased by 10.3%, in Zale they fell by 10.9%, while in Kay they decreased by 1.5%. The sales volume in their regional networks fell by 21.4%.
Clearly, there is a need for change. We need to move to a different way of thinking about diamonds and the one to whom we sell them. A new proposal is needed - not the one that will replace the current offer of diamonds in the form of jewelry inserts to symbolize love, but one that will coexist with it. A proposal that takes into account that consumers are smart, and accordingly, threatens them. We must give them the opportunity to quickly review the data without going deep into them, but at the same time give them the opportunity to examine in depth the data on individual diamonds. Even if they do not very closely look at the expanded data, they will feel confident knowing that there is information if they need to consider it. It's nice to realize that there are additional easily accessible data.
If we in the diamond industry are open to this new reality, then we will have a golden opportunity. In the past, I mentioned changes in other industries: for example, in taxi services. We all stood and waited in line for a taxi, sometimes for a long time, sometimes the taxi just drove through and did not stop for unknown reasons. We all suspected sometimes that the driver drove us in a roundabout way to get more for the fare. We sometimes could sit down to the driver who did not put in order the car or with which there were many other problems. There appeared Gett, Uber, Lyft and solved these problems. We know when their cars arrive, that they will take you in the shortest possible way, that the cars will be clean, etc. We see that the same thing happens in other industries in which sudden and unexpected changes created by people from outside, Were stunning for consumers, revolutionized the provision of services, and (most importantly) removed many traditional players from the game. We need to learn these lessons and avoid traps, because if we do not make changes, the change can be imposed on us. Let's not react too late.
It becomes open to consumers, solve issues that concern them, and provide them with the information they need and when they need it - this is the main in the consumer business today. This is especially true for the United States. Therefore, I propose that the industry is now making changes before it's too late. And so I developed a price list based on transaction prices, the Mercury Diamond ™ Price List. It provides not only wholesale prices for diamonds, but it is also the basis for retail prices. Why the basis? Because we add value to diamonds throughout the diamond pipeline. Including retailers. Therefore, each retailer may prefer to sell their diamond jewelry at a price suitable for them - depending on the location of the store, trust, brand, services, availability, design,
We must give consumers the opportunity to access, analyze and understand that the price of the diamond in question is the main one for making a purchase. Thus, if they want to understand how much it will cost to replace a diamond with another, they know how much a replacement for a particular diamond is worth, an update, or just selling a diamond later, they have all the information on their hands and they are armed with it. Transparency of prices equips consumers, creating a basis for making an informed decision about how much to pay for a diamond. ( ehudlaniado.com )
Friday, July 14, 2017
According to the latest government figures cited by Rapaport portal, polished diamond imports to the US rose by 2.3% in May year on year and amounted to $ 3.09 billion. This month, the incoming supply are often the highest, because the stones are coming at the June exhibition in Las Vegas.
Import of diamonds by weight increased by 1.3%, to 1.4 million carats, while their average price rose by 1%, to $ 2263 per carat.
Polished exports fell by 1.1%, to $ 1.37 billion, respectively, net polished imports increased by 5.1%, to $ 1.72 billion.
Diamond imports increased more than six-fold, to $ 132 million, and rough exports doubled, to $ 36 million. Net rough imports totaled $ 96 million, compared to $ 1 million a year ago.
The balance of US diamond trade, which is calculated as the difference between total imports and exports of rough and polished diamonds jumped 11% to $ 1.82 billion.
In the first five months of this year, polished imports fell by 0.4% to $ 10.49 billion and exports decreased to $ 3.09 billion for 1.2% to $ 7.4 bn. Net polished imports increased by 1.5%.
http://bridalpearlnecklace.blogspot.ca/
Import of diamonds by weight increased by 1.3%, to 1.4 million carats, while their average price rose by 1%, to $ 2263 per carat.
Polished exports fell by 1.1%, to $ 1.37 billion, respectively, net polished imports increased by 5.1%, to $ 1.72 billion.
Diamond imports increased more than six-fold, to $ 132 million, and rough exports doubled, to $ 36 million. Net rough imports totaled $ 96 million, compared to $ 1 million a year ago.
The balance of US diamond trade, which is calculated as the difference between total imports and exports of rough and polished diamonds jumped 11% to $ 1.82 billion.
In the first five months of this year, polished imports fell by 0.4% to $ 10.49 billion and exports decreased to $ 3.09 billion for 1.2% to $ 7.4 bn. Net polished imports increased by 1.5%.
http://bridalpearlnecklace.blogspot.ca/
The development of major industry associations and organizations is in line with the strengthening of partnerships with small and medium-sized businesses.
The World Jewelry Center in Panama (World Jewelry Hub, WJH) becoming the industry center of the region, reinforces its leadership and demonstrates an innovative approach to new forms of interaction with the business community.
Ali Pastorini (Ali Pastorini), Senior Vice President, World Jewelry Hub, talking about the prospects of cooperation with Bridgem Network, said: "We understand that the industry is kept on a set of small and medium-sized enterprises: lapidary, jewelry, shopping. This enormous project - to combine all of them to make joint decisions. Even a simple communication becomes a problem when such companies - hundreds of thousands. Therefore, in the LATAM Week in Panama in June of this year, we held business meetings and reached excellent cooperation agreements with industry communication system Bridgem Network ».
President of the World of jewelery and Diamond Center in Panama Mahesh Khemlani (Mahesh Khemlani) said: "The industry should be open and innovative, if it wants to survive. Today, our business has never transnationals. And each of us must have the tools to act quickly and have unlimited access to industry information. Therefore, we paid attention to Bridgem Network. We like it. We believe that our cooperation will be the "engine" of development for all of us. "
Industry b2b Portal Bridgem.com available as a desktop as well as from any smartphone. Particularly impressive is the fact that the functionality in the mobile device does not concede, and in some ways even surpasses the "desktop" version. Service creates a business with a simple free registration and a wide range of functions. According to the creators, "this is just the beginning."
http://pearlsgift.blogspot.ca/
The World Jewelry Center in Panama (World Jewelry Hub, WJH) becoming the industry center of the region, reinforces its leadership and demonstrates an innovative approach to new forms of interaction with the business community.
Ali Pastorini (Ali Pastorini), Senior Vice President, World Jewelry Hub, talking about the prospects of cooperation with Bridgem Network, said: "We understand that the industry is kept on a set of small and medium-sized enterprises: lapidary, jewelry, shopping. This enormous project - to combine all of them to make joint decisions. Even a simple communication becomes a problem when such companies - hundreds of thousands. Therefore, in the LATAM Week in Panama in June of this year, we held business meetings and reached excellent cooperation agreements with industry communication system Bridgem Network ».
President of the World of jewelery and Diamond Center in Panama Mahesh Khemlani (Mahesh Khemlani) said: "The industry should be open and innovative, if it wants to survive. Today, our business has never transnationals. And each of us must have the tools to act quickly and have unlimited access to industry information. Therefore, we paid attention to Bridgem Network. We like it. We believe that our cooperation will be the "engine" of development for all of us. "
Industry b2b Portal Bridgem.com available as a desktop as well as from any smartphone. Particularly impressive is the fact that the functionality in the mobile device does not concede, and in some ways even surpasses the "desktop" version. Service creates a business with a simple free registration and a wide range of functions. According to the creators, "this is just the beginning."
http://pearlsgift.blogspot.ca/
State diamond company in Botswana Okavango Diamond Company (ODC) reported that in the first half of 2016 its diamond sales rose 23% to $ 284 million, and production volumes jumped 35%, to 1.75 million carats.
This year the Okavango could spend five tenders.
According to Reuters, the growth of the company's diamond production was caused by the high levels of the first quarter of this year, when its diamond stocks strongly decreased.
"In the first quarter of 2016 ODC managed to achieve a strong recovery in prices for its diamonds, since stocks of rough diamonds in the industry were low and polishers sought to replenish stocks for their businesses after higher sales in the holiday season in the United States," - said the managing director of ODC Toby Fiers, as quoted by Reuters.
"Since diamond prices again fell slightly, as demand in the market has decreased the prices are lower now than they were in early 2015.", - he added.
Okavango, as expected, had to sell 15% of the diamonds mined company of Debswana, a joint venture between De Beers and the Botswana government.
http://traditionpearlnecklace.blogspot.ca/
This year the Okavango could spend five tenders.
According to Reuters, the growth of the company's diamond production was caused by the high levels of the first quarter of this year, when its diamond stocks strongly decreased.
"In the first quarter of 2016 ODC managed to achieve a strong recovery in prices for its diamonds, since stocks of rough diamonds in the industry were low and polishers sought to replenish stocks for their businesses after higher sales in the holiday season in the United States," - said the managing director of ODC Toby Fiers, as quoted by Reuters.
"Since diamond prices again fell slightly, as demand in the market has decreased the prices are lower now than they were in early 2015.", - he added.
Okavango, as expected, had to sell 15% of the diamonds mined company of Debswana, a joint venture between De Beers and the Botswana government.
http://traditionpearlnecklace.blogspot.ca/
The new CEO of De Beers Bryus Cleaver (Bruce Cleaver) said that consumer demand is the only source of value added in the diamond industry, but at the same time there is a need to continually stimulate it developed, developing and emerging markets.
At the same time, he said, that would be a mistake to take the constant demand for diamonds for granted.
"The assumption that the factors that affect demand in the past, will be the same as now, is false," - he said in a statement Cleaver in De Beers blog.
"We must accept the fact that consumer trends are changing, and they provide us with opportunities for growth Whether stimulating demand, protect the stability of production or increasing its production, investment -. A key instrument through which we can play a crucial role in shaping our future" , - he added.
Cleaver also said that De Beers group of companies is also important to maintain close relations with all participants in the industry because they are the "cornerstone" of the diamond industry.
"De Beers is in a unique relationship with consumers, buyers of rough diamonds, various governments, local communities and retailers Moreover, for each of these groups is not only what we do but how we do it." - Cleaver continues.
"We should never lose sight of the fact that the diamond supply chain success to be successful each of its constituent parts", - concluded the CEO of De Beers.
http://pearlgiftjewelry.blogspot.ca/
At the same time, he said, that would be a mistake to take the constant demand for diamonds for granted.
"The assumption that the factors that affect demand in the past, will be the same as now, is false," - he said in a statement Cleaver in De Beers blog.
"We must accept the fact that consumer trends are changing, and they provide us with opportunities for growth Whether stimulating demand, protect the stability of production or increasing its production, investment -. A key instrument through which we can play a crucial role in shaping our future" , - he added.
Cleaver also said that De Beers group of companies is also important to maintain close relations with all participants in the industry because they are the "cornerstone" of the diamond industry.
"De Beers is in a unique relationship with consumers, buyers of rough diamonds, various governments, local communities and retailers Moreover, for each of these groups is not only what we do but how we do it." - Cleaver continues.
"We should never lose sight of the fact that the diamond supply chain success to be successful each of its constituent parts", - concluded the CEO of De Beers.
http://pearlgiftjewelry.blogspot.ca/
The Gemological Institute of India (Gemmological Institute of India, GII) , is a project of the Council for the promotion of exports of gems and jewelery (Gem & Jewellery Export Promotion Council, GJEPC), together with the Indian Diamond Exchange (Bharat Diamond Bourse, BDB) has introduced a new device, which detects synthetic diamonds within a few seconds.
The device, called «Quick-Check» ( «A quick check"), has been developed by our own research team Gemological Institute of India in collaboration with Arotek, producing scientific instruments.
Quick-Check machine requires only a few seconds to scan the diamonds of type IIb, obtained by the HPHT (High Pressure High Temperature) using high pressure and high temperature as soon as they are loaded in the camera unit for verification. Quick-Check is easy to use and does not require highly professional, unlike currently available sophisticated scientific instruments to test the diamonds.
Commenting on the introduction of this tool, Bakool Mehta (Bakul Mehta), GII manager, said: "Now, with the introduction of Quick-Check, we can immediately and with absolute results detect synthetic diamonds of type IIb, obtained by HPHT. This affordable device makes it possible to reduce the threat of mixing synthetic diamonds with natural market. It is very important to maintain customer confidence. I invite retailers and manufacturers to take the initiative and take advantage of this device. "
Chairman GJEPC Pravinshankar Pandya (Praveenshankar Pandya) said: "We want to protect themselves against any threat of unlawful mixing synthetics with natural diamonds. With the advent of this device industry will benefit the most, because the detection of synthetic diamonds with it will strengthen the supply of natural diamonds. I am very impressed with the ease of use and availability of this device. "
Russell Mehta (Russell Mehta), deputy chairman of GJEPC, said: "This is a landmark achievement of the Gemological Institute of India. India is one of the largest diamond centers, and this initiative will help build confidence in the trading community. "
http://royalpearljewelry.blogspot.ca/
The device, called «Quick-Check» ( «A quick check"), has been developed by our own research team Gemological Institute of India in collaboration with Arotek, producing scientific instruments.
Quick-Check machine requires only a few seconds to scan the diamonds of type IIb, obtained by the HPHT (High Pressure High Temperature) using high pressure and high temperature as soon as they are loaded in the camera unit for verification. Quick-Check is easy to use and does not require highly professional, unlike currently available sophisticated scientific instruments to test the diamonds.
Commenting on the introduction of this tool, Bakool Mehta (Bakul Mehta), GII manager, said: "Now, with the introduction of Quick-Check, we can immediately and with absolute results detect synthetic diamonds of type IIb, obtained by HPHT. This affordable device makes it possible to reduce the threat of mixing synthetic diamonds with natural market. It is very important to maintain customer confidence. I invite retailers and manufacturers to take the initiative and take advantage of this device. "
Chairman GJEPC Pravinshankar Pandya (Praveenshankar Pandya) said: "We want to protect themselves against any threat of unlawful mixing synthetics with natural diamonds. With the advent of this device industry will benefit the most, because the detection of synthetic diamonds with it will strengthen the supply of natural diamonds. I am very impressed with the ease of use and availability of this device. "
Russell Mehta (Russell Mehta), deputy chairman of GJEPC, said: "This is a landmark achievement of the Gemological Institute of India. India is one of the largest diamond centers, and this initiative will help build confidence in the trading community. "
http://royalpearljewelry.blogspot.ca/
China's largest jewelry retailer's share in the Chow Tai Fook market showed a slight decrease in same-store sales in mainland China in the quarter that ended in June, due to the increase in sales of jewelry with precious stones. At the same time, the company reported that sales in Hong Kong and Macao remained weak.
Quarterly retail sales of the group of companies in Hong Kong and Macao fell by 22% compared to the same period last year, while in mainland China fell by 13%, resulting in an overall drop in the indicator by 17%. Sales of jewelry with precious stones in stores in mainland China open at least a year, fell by 12%. It is twice more than a slight decrease on the previous year.
"Given the huge market in China, we maintain our target of opening 50-60 new stores in this area in the current financial year", - said Kent Wong (Kent Wong), Managing Director of Chow Tai Fook.
He also said, Chow Tai Fook will stick to its plan to close 7-8 stores in Hong Kong, as sales in Hong Kong and Macao remain weak against the background of stagnation in consumer sentiment and due to reduced number of tourists from the mainland.
http://bridalpearlnecklace.blogspot.ca/
Quarterly retail sales of the group of companies in Hong Kong and Macao fell by 22% compared to the same period last year, while in mainland China fell by 13%, resulting in an overall drop in the indicator by 17%. Sales of jewelry with precious stones in stores in mainland China open at least a year, fell by 12%. It is twice more than a slight decrease on the previous year.
"Given the huge market in China, we maintain our target of opening 50-60 new stores in this area in the current financial year", - said Kent Wong (Kent Wong), Managing Director of Chow Tai Fook.
He also said, Chow Tai Fook will stick to its plan to close 7-8 stores in Hong Kong, as sales in Hong Kong and Macao remain weak against the background of stagnation in consumer sentiment and due to reduced number of tourists from the mainland.
http://bridalpearlnecklace.blogspot.ca/
Rockwell Diamonds reported that its revenues from diamond sales in the first quarter of fiscal year 2017 increased by 41%, to 12.1 million Canadian dollars.
The increase was mainly due to increased production at the project Remhugte / Holsloot (Remhoogte / Holsloot, RHC) due to increased production volumes and processing of rock.
Revenue from beneficiation Rockwell fell by 56%, up to 400,000 Canadian dollars, against 900 000 Canadian dollars in the same period last fiscal year.
Thus, for the first quarter revenues of 12.5 million Canadian dollars versus $ 9.2 million a year earlier.
"Rockwell beginning of the 2017 fiscal year with a significant change in the operational profile compared to last year. We have suspended operations on Niveyarskraal mine (Niewejaarskraal), sold mine Tirizano (Tirisano), acquired Remhugte / Holsloot project, and, contrary to expectations, continued to prey on Saksendrift ( Saxendrift), albeit in reduced quantities in terms of production and content of diamond in the rock ", - said General Director of Rockwell Dzheyms Kempbell (James Campbell).
"2016 fiscal year was a difficult period of restructuring our results, which have improved significantly in the first quarter of fiscal year 2017 reflect the improvements that we carry out after the end of 2016 fiscal year of strategic decisions.", - he added.
Campbell also said that production at the RHC has stabilized after a difficult six months.
"We are pleased to announce the stable development of the newly commissioned project Vouterspen (Wouterspan), production of which is expected to begin in August 2016. We are confident that our new profile operations in the Central River region of the Orange (Middle Orange River, MOR) South Africa will allow us to process 350,000 cubic meters of gravel per month until the end of 2017 fiscal year "- continues CEO of Rockwell.
However, the company noted that the diamond market remained stable during the reporting period, as well as a recovery in prices was observed at the beginning of this year.
"Secondary market demand has improved due to the replenishment of diamond manufacturers, but there are concerns about potential oversupply within the diamond market as soon as the goods are placed in diamond water", - noted in the company.
"While diamond prices rose by a few percent in the quarter, compared with January 2016, on the size of the production price of less than 1 carat fell by 5%, and for stones weighing 3 carats, they decreased by 15% compared with the first quarter 2016 financial year ", - concluded the Rockwell.
http://pearlsgift.blogspot.ca/
The increase was mainly due to increased production at the project Remhugte / Holsloot (Remhoogte / Holsloot, RHC) due to increased production volumes and processing of rock.
Revenue from beneficiation Rockwell fell by 56%, up to 400,000 Canadian dollars, against 900 000 Canadian dollars in the same period last fiscal year.
Thus, for the first quarter revenues of 12.5 million Canadian dollars versus $ 9.2 million a year earlier.
"Rockwell beginning of the 2017 fiscal year with a significant change in the operational profile compared to last year. We have suspended operations on Niveyarskraal mine (Niewejaarskraal), sold mine Tirizano (Tirisano), acquired Remhugte / Holsloot project, and, contrary to expectations, continued to prey on Saksendrift ( Saxendrift), albeit in reduced quantities in terms of production and content of diamond in the rock ", - said General Director of Rockwell Dzheyms Kempbell (James Campbell).
"2016 fiscal year was a difficult period of restructuring our results, which have improved significantly in the first quarter of fiscal year 2017 reflect the improvements that we carry out after the end of 2016 fiscal year of strategic decisions.", - he added.
Campbell also said that production at the RHC has stabilized after a difficult six months.
"We are pleased to announce the stable development of the newly commissioned project Vouterspen (Wouterspan), production of which is expected to begin in August 2016. We are confident that our new profile operations in the Central River region of the Orange (Middle Orange River, MOR) South Africa will allow us to process 350,000 cubic meters of gravel per month until the end of 2017 fiscal year "- continues CEO of Rockwell.
However, the company noted that the diamond market remained stable during the reporting period, as well as a recovery in prices was observed at the beginning of this year.
"Secondary market demand has improved due to the replenishment of diamond manufacturers, but there are concerns about potential oversupply within the diamond market as soon as the goods are placed in diamond water", - noted in the company.
"While diamond prices rose by a few percent in the quarter, compared with January 2016, on the size of the production price of less than 1 carat fell by 5%, and for stones weighing 3 carats, they decreased by 15% compared with the first quarter 2016 financial year ", - concluded the Rockwell.
http://pearlsgift.blogspot.ca/
The Government of India has decided to support local jewelry company, raising the threshold for levying excise duty on jewelry small businesses up to $ 1.5 million versus $ 0.9 million in an earlier version of the law. In addition, the authorities have refused tax on the goods being transported and eased some regulations the industry.
Ministry of Finance on July 13 adopted a recommendation jewelry Council and noted that the audit of the excise duty will not be conducted during the first two years for those companies that pay at least $ 0.015 million on excise duty (and whose turnover, respectively, is less than $ 1.5 million).
The Ministry has taken into account the large-scale protests by jewelers after entering the 1-percent excise tax for all jewelry except for silver, convening a subcommittee to interact with representatives of trade and industry on the issues of legal compliance, bookkeeping and administrative actions.
The Government of India has also decided to raise the threshold of matching traffic as the result of small jewelry business from $ 1.80 million to $ 2.25 million. At the same time the threshold payment of excise tax for small enterprises has been increased from $ 0.9 million to $ 1.5 million a year, and to $ 0, 12 million in March 2016.
In addition, the authorities will not require any plan for the territory of enterprises, which was previously required for the registration of excise tax when submitting the first bill-invoice to the tax authorities.
Moving jewelry that does not include their sale, will not be subject to excise duty, while excise regulators will not check transit checks. In addition, an optional scheme can pay for those jewelers who can not maintain a separate physical drains or records created and sold goods.
In conclusion, the Government accepted the proposal of the Subcommittee not to visit, not to inspect and detain workers in the jewelry enterprises.
http://traditionpearlnecklace.blogspot.ca/
Ministry of Finance on July 13 adopted a recommendation jewelry Council and noted that the audit of the excise duty will not be conducted during the first two years for those companies that pay at least $ 0.015 million on excise duty (and whose turnover, respectively, is less than $ 1.5 million).
The Ministry has taken into account the large-scale protests by jewelers after entering the 1-percent excise tax for all jewelry except for silver, convening a subcommittee to interact with representatives of trade and industry on the issues of legal compliance, bookkeeping and administrative actions.
The Government of India has also decided to raise the threshold of matching traffic as the result of small jewelry business from $ 1.80 million to $ 2.25 million. At the same time the threshold payment of excise tax for small enterprises has been increased from $ 0.9 million to $ 1.5 million a year, and to $ 0, 12 million in March 2016.
In addition, the authorities will not require any plan for the territory of enterprises, which was previously required for the registration of excise tax when submitting the first bill-invoice to the tax authorities.
Moving jewelry that does not include their sale, will not be subject to excise duty, while excise regulators will not check transit checks. In addition, an optional scheme can pay for those jewelers who can not maintain a separate physical drains or records created and sold goods.
In conclusion, the Government accepted the proposal of the Subcommittee not to visit, not to inspect and detain workers in the jewelry enterprises.
http://traditionpearlnecklace.blogspot.ca/
De Beers will pay "particular attention" to the five diamond cutting firms in South Africa, owned by black people of this country, because the diamond company strives to meet the government's requirements for beneficiation products. It is reported by local newspaper Business Day.
We will support five companies - Kwame Diamonds, Nungu Diamonds, Thoko 's Diamonds, Diamonds Africa and Molefi Letsiki Diamond Holdings.
Business Day quoted the Director General of De Beers Consolidated Mines Mpumi Zikalala (Mpumi Zikalala), who noted that the company will receive support and an appropriate volume of rough diamonds required to compete successfully in domestic and international diamond market.
De Beers will provide technical and production assistance to these companies in all aspects of their business - from the purchase of rough diamonds to manufacturing, marketing and distribution of diamonds, as well as make it easier for them to access funding under the program Zimele Small Business Development Anglo American and to the sightholders.
Raizcorp, which specializes in the development of various types of business, provide assistance to the five business granochnym companies.
The number of diamond cutters in South Africa dropped to 400 against 5000, as these countries with lower production costs, such as India, dominate the diamond cutting segment, said Chief Executive Officer of De Beers Bryus Cleaver (Bruce Cleaver).
De Beers Consolidated Mines, which produces about 930 000 carats of diamonds on the draft annual Venice (Venetia) and Vurspoed (Voorspoed) in South Africa, providing about 40% of its raw materials for the needs of the local diamond cutters.
http://pearlgiftjewelry.blogspot.ca/
We will support five companies - Kwame Diamonds, Nungu Diamonds, Thoko 's Diamonds, Diamonds Africa and Molefi Letsiki Diamond Holdings.
Business Day quoted the Director General of De Beers Consolidated Mines Mpumi Zikalala (Mpumi Zikalala), who noted that the company will receive support and an appropriate volume of rough diamonds required to compete successfully in domestic and international diamond market.
De Beers will provide technical and production assistance to these companies in all aspects of their business - from the purchase of rough diamonds to manufacturing, marketing and distribution of diamonds, as well as make it easier for them to access funding under the program Zimele Small Business Development Anglo American and to the sightholders.
Raizcorp, which specializes in the development of various types of business, provide assistance to the five business granochnym companies.
The number of diamond cutters in South Africa dropped to 400 against 5000, as these countries with lower production costs, such as India, dominate the diamond cutting segment, said Chief Executive Officer of De Beers Bryus Cleaver (Bruce Cleaver).
De Beers Consolidated Mines, which produces about 930 000 carats of diamonds on the draft annual Venice (Venetia) and Vurspoed (Voorspoed) in South Africa, providing about 40% of its raw materials for the needs of the local diamond cutters.
http://pearlgiftjewelry.blogspot.ca/
The World Diamond Council (World Diamond Council, WDC) announced yesterday that its Board of Directors elected Mr. Stefan Fischler (Stéphane Fischler) as vice-president of WDC. As a founding member of the WDC, Mr. Fischler takes an active part in its work since inception.
WDC is a group of members representing the entire supply chain of the international diamond industry, from mining to retail. This organization represents the diamond industry in the development and implementation of systems, developed by the UN and the Kimberley Process (KP) to eliminate and prevent the entry of conflict diamonds into the legitimate trade in these precious stones.
"I am honored to work with the president Polyakov, WDC Board of Directors and our members, - said Mr Fischler. - The role of the WDC in the representation of industry at the forum of the Kimberley Process is critical to the success and integrity of the KP. And I really want to contribute to this important work. "
As a partner at Fischler Diamonds, Mr. Fischler is currently working as the president of the Antwerp World Diamond Center (Antwerp World Diamond Centre, AWDC) , Vice-President of the International Diamond Council (International Diamond Council, IDC) and development initiatives for the diamond industry ( diamond Development Initiative, DDI), as well as treasurer of the International diamond manufacturers Association (International diamond manufacturers Association, IDMA) . Mr Fischler - Member of the Responsible Jewelry Practices Board (Responsible Jewellery Council, RJC).
"The extensive experience and expertise Stefana Fishlera not only in industry, but especially in the KP are invaluable to the WDC, - said Andrey Polyakov, president of WDC. - Now that we have an excellent team to continue to focus our attention on the interaction with the Kimberley Process and to the strengthening of its role for the benefit of all stakeholders. "
Mr. Ronnie Vanderlinden (Ronnie Vanderlinden) was re-elected treasurer of the WDC for a second term, and Mr. Udi Sheyntal (Udi Sheintal) will continue its work as the Corporate Secretary of the organization. According to the statute WDC, Mr. Fischler will replace Mr. Polyakov as president of WDC at the end of his two-year term in office in 2018.
The main purpose of which was founded in 2000 WDC is the representation of the diamond industry in the development and implementation of regulatory and voluntary control systems in the field of diamond trade at imposing an embargo by the United Nations or its implementation in the framework of the Kimberley Process Certification Scheme (KPCS). KPCS imposes extensive requirements on its members - the countries producing and trading rough diamonds to them - in order to prevent conflict diamonds from entering the supply chain. Conflict diamonds - diamonds is used by rebel movements to finance wars against legitimate governments.
http://royalpearljewelry.blogspot.ca/
WDC is a group of members representing the entire supply chain of the international diamond industry, from mining to retail. This organization represents the diamond industry in the development and implementation of systems, developed by the UN and the Kimberley Process (KP) to eliminate and prevent the entry of conflict diamonds into the legitimate trade in these precious stones.
"I am honored to work with the president Polyakov, WDC Board of Directors and our members, - said Mr Fischler. - The role of the WDC in the representation of industry at the forum of the Kimberley Process is critical to the success and integrity of the KP. And I really want to contribute to this important work. "
As a partner at Fischler Diamonds, Mr. Fischler is currently working as the president of the Antwerp World Diamond Center (Antwerp World Diamond Centre, AWDC) , Vice-President of the International Diamond Council (International Diamond Council, IDC) and development initiatives for the diamond industry ( diamond Development Initiative, DDI), as well as treasurer of the International diamond manufacturers Association (International diamond manufacturers Association, IDMA) . Mr Fischler - Member of the Responsible Jewelry Practices Board (Responsible Jewellery Council, RJC).
"The extensive experience and expertise Stefana Fishlera not only in industry, but especially in the KP are invaluable to the WDC, - said Andrey Polyakov, president of WDC. - Now that we have an excellent team to continue to focus our attention on the interaction with the Kimberley Process and to the strengthening of its role for the benefit of all stakeholders. "
Mr. Ronnie Vanderlinden (Ronnie Vanderlinden) was re-elected treasurer of the WDC for a second term, and Mr. Udi Sheyntal (Udi Sheintal) will continue its work as the Corporate Secretary of the organization. According to the statute WDC, Mr. Fischler will replace Mr. Polyakov as president of WDC at the end of his two-year term in office in 2018.
The main purpose of which was founded in 2000 WDC is the representation of the diamond industry in the development and implementation of regulatory and voluntary control systems in the field of diamond trade at imposing an embargo by the United Nations or its implementation in the framework of the Kimberley Process Certification Scheme (KPCS). KPCS imposes extensive requirements on its members - the countries producing and trading rough diamonds to them - in order to prevent conflict diamonds from entering the supply chain. Conflict diamonds - diamonds is used by rebel movements to finance wars against legitimate governments.
http://royalpearljewelry.blogspot.ca/
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