Trying to Fix Supply-Driven Diamond Pipeline Instead of Generating Demand

Opinion piece
16/06/2015 17:31

For more than a century, diamonds have been a supply-driven industry. That model doesn’t work any more and the global diamond industry is now seriously hurting. (...) All these issues were brought up by speaker after speaker at the 2015 WFDB and IDMA Presidents' Meeting in Tel Aviv. Yet for all that, no one seems to have come up with a strong initiative to start wooing customers again. Everyone at the meeting seems to be content having reviewed the progress of the initiative known as the World Diamond Mark. This is actually a quality assurance and consumer confidence initiative. It does nothing to generate demand for diamonds. Until someone does something about generating demand, everyone in the middle is going to continue hurting.

Vinod Kuriyan - Chief Editor & Market Analyst at GemKonnect