A new initiative to encourage the involvement of younger diamantaires in the industry is moving ahead, with its first major networking event to take place on September 15 during the Hong Kong Gems and Jewellery Fair. The event will be broadcast live to Belgium, Israel, and India where other Young Diamantaire events are being planned, Rapaport reported. The Young Diamantaires project grew out of a need to encourage trade members aged under 45 to become involved in the World Federation of Diamond Bourses (WFDB), explained Rami Baron, Chairman of the WFDB’s Promotion committee.
The initiative was launched in May at the World Diamond Congress in Dubai. While the current focus is simply to build a network, an implicit requirement is to provide continuity, Baron said. The Young Diamantaires group has launched Whatsapp and Facebook groups, with discussions taking place on issues such as marketing, millennials, certifying synthetics and diamond pricing. Participation is not limited to members of the WFDB, with Baron stressing the group aims to be inclusive. The idea, he explained, is to let it grow to a point where it can “galvanize the trade,” while creating a more formal structure to potentially serve as a feeder to the WFDB’s leadership will come at a later stage.
“We’re facilitating communication and cooperation among the newest members so that they can provide the ideas, passion and inspiration to ensure our industry has a plan of succession,” Baron said. “We have to bring a fresh perspective as the ability to identify new opportunities is how the diamond industry can rise to a top position in the world of luxury.”