I have been a strong proponent of generic diamond marketing. Fragmenting the diamond market with diamond brands is having a negative effect on the consumers’ perception of generic diamonds. Currently, we are not only witnessing diamond brand wars but a new war is developing involving diamond reports. De Beers is taking on the GIA by opening their grading facilities to the general trade and Martin Rapaport is taking on the world with his new Investment Diamond Report ... These reports, like branded diamonds, are harmful to the marketing of generic diamonds. De Beers will market their report as superior to GIA. Rapaport will promote GIA as a secondary and a weak report. This new war of reports will cause consumer confusion and distrust. Put succinctly the consumer will suffer from ‘paralysis by analysis’. Rather than working together to encourage the sale of diamonds, our industry is continuously finding new ways to fragment and denigrate itself while destroying consumer confidence.
- Mel Moss on the growing fragmentation of diamond grading, oversupply and jewelry chain stores