Diamond Promotion: “All we need is a fraction of a percent of sales.”
While many of you may be taking a break, industry news never stops coming. An online, Florida-based publication article was headlined: “Lab-Grown Diamonds Surge 2,000% In Popularity As Sustainable Wedding Option.” “Some jewellers say interest has grown by more than 2,000% in five years as people look for more affordable options. They are physically and […]
The Price of Diamonds
Does anyone in our industry actually know the price of a rough diamond? Nowadays, precious few of us do. But paying the right price for rough is fundamental to our industry’s economics: pay too much or too little, and eventually, we all suffer. However, very few buyers know the accurate price of rough diamonds. The […]
In search of value
Have you ever been to Trader Joe’s? It’s a supermarket with its very own signature, atmosphere, and product offering. When you walk in, chances are you’ll almost immediately encounter products that you’ve either never seen or are very surprised to find there. Trader Joe is performing very well these days. A survey run by placer.ai, […]
Back from Las Vegas
I have just returned from the Vegas shows. I loved seeing, meeting, and greeting customers, colleagues, and friends, networking and socializing (during the many dinners and events), and most importantly for all of us there, doing business. I can guess our readers’ first questions: “How did diamonds do?” and “What did people talk about?” Of […]
In loving memory of Gabi Tolkowsky
The global diamond manufacturing community mourns the death of the incomparable Gabi Tolkowsky, who was a “pioneer and a master craftsman who understood the wonder of diamonds like few other people.” (Source: De Beers) More than diamonds, Gabi understood people and how diamonds can enthuse and excite people. Of course, Gabi the diamond expert will […]
In memoriam Harry Levy
We lost Harry Levy this week. He was 83. Blessed be his memory. Harry was, by all means, an industry giant. Throughout the many decades he worked in the diamond and colored gemstone industry and trade, Harry’s authority, influence, and contribution, were consistently felt and appreciated equally in both disciplines. Initially, Harry had no intention […]
Jeffrey Fischer, Honorary IDMA President, is the 2023 recipient of JVC’s Stanley Schechter Award
The Jewelers Vigilance Committee (JVC), the legal watchdog of the US diamond, gem, and jewelry industry and trade, announced last week that Jeffrey Fischer, Honorary IDMA President, is the 2023 recipient of JVC’s Stanley Schechter Award.JVC wrote the following in their announcement: Jeffrey Fischer of Fischer Diamonds, Inc., is a second-generation diamantaire who has been […]
Start implementing the revised WDC SoW now
October 21, 2022– It gives me a lot of pleasure to address the prestigious membership of the International Diamond Manufacturers Association for the first time. I cannot say that I have yet had the chance to meet everyone, but I know your President very well. Ronnie VanderLinden and I have had the pleasure of working […]
Follow the rules!
For those of you who missed it, Martin Rapaport published his New Year’s message on January 17. In his article, Mr. Rapaport elected to ‘rant’ – as my colleague Gary Roskin characterized it – exclusively about the threat of synthetic or lab-grown diamonds (LGDs) to the gem and jewelry supply chain and the lack of […]
How effective is the Natural Diamond Council?
January 22, 2023 – Last week, our colleague Jonathan Kendall called attention to a post of a fellow Linkedin user, Matthew Potter. Kendall wrote: [quote] “A really big theme of the last few years has been the virtual obsession about big data. This post is just excellent because like me I’m sure many of you […]
Shooting for the moon
January 12, 2023 – The preliminary results of the 2022 holiday jewelry sales season indicate that it was a ‘mixed bag’ but that, in general, most retail jewelers were pleased with and mostly relieved about their year-end performances. The next obvious question is: what will 2023 bring? It naturally will all hinge on how well […]
The benefit of making mistakes
During November, I was on the road for more than 21 days. Consequently, the most recent editions of the WINC were compiled in various hotel rooms in four countries. As you’ll read below, it made composing IDMA’s online newsletters challenging. In the last two issues of the WINC, some links to featured articles were missing, […]
In praise of the IDCA
November 27, 2022 – Unfortunately, we once again find the difficult environment around the world creating additional challenges for our industry. We can and should make this a time when we, as an industry, give hope and sparkle! Let’s work together and be creative and inclusive, promote, and above all else, show the world we […]
The KP needs to do better
October 14, 2022 – While we are all preparing for what promises to be an exciting holiday sales season for diamonds and diamond jewelry, our industry will also be looking at how our industry, from mining to the sales of polished diamonds, is adjusting itself to doing business in the “Next Normal.” If you’ve received […]
Diamonds in The Age of the Consumer
September 11, 2022 – Not all is well in our industry, as the diamond mining sector faces multiple challenges. In South Africa, disaster struck at the Jagersfontein diamond mine when a dam broke, flooding a nearby neighborhood and killing several people. Illegal mining is just one of the many problems the diamond and precious metal […]
How do you cope with the changes in the diamond supply chain?
September 7, 2022 – In early September 2022, Industry analyst Edahn Golan issued a mini survey via his Twitter account, asking” “What do you think are the most pressing issues in the diamond industry?” He listed Edahn’s questions can be condensed into a single question: How do you cope with the changes occurring throughout the […]
Do LGDs need to worry us?
August 2, 2022 – It’s summertime. While the American diamond industry is back at work, our colleagues in Europe and Israel are about to take some well-deserved time off for most of August. In India, manufacturing and trading are slow. We can, however, look with optimism at our market in the coming months. As demonstrated […]
The World Diamond Council: Nobody else is doing a better job
June 26, 2022 – The Las Vegas shows concluded earlier this month. While exhibitors reported brisk business, we’ll have to wait and see before we can draw definite conclusions about how this coming holiday sales season will develop. As usual, Rapaport’s annual breakfast conference at the JCK show was well attended, both in person and […]
It’s all connected
May 22, 2022 – An article on CNN’s website triggered a distant memory. It must have been almost three decades ago, but I remember it very well. It was one of my first visits to the US and to the Tucson shows. My dear colleague Cheryl Kremkow – at that time Editor of Chief of […]
In memory of Shri Sanjay bhai Shah
May 14, 2022 – We deeply mourn the untimely demise of Shri Sanjay bhai Shah of KBS Diamonds. Sanjay bhai Shah was the Convener of the Diamond Panel Committee of the Gem & Jewellery Export Promotion Council (GJEPC), an active member of GJEPC’s Committee of Administration (COA), a board member of the World Diamond Council […]
Why we need to stop making decisions based on emotions
April 24, 2022 – On my last trip to New York and India, I met with many respected diamond manufacturers and retail jewelers. While we talked about the diamond industry and UNI, the often emotional discussions repeatedly focused on the “market situation.” I understand why emotions often come into play when diamantaires talk about diamond […]
“Surprises in war, tragic and inspiring”
March 12, 2022 -Russia’s invasion and warfare against Ukraine are on all our minds. The effects of the war, particularly the sanctions imposed by the Biden administration and the European Union, are also distinctly felt by the diamond industry and trade. During the past ten days, IDMA President Ronnie VanderLinden, together with other gem and […]
We’re in this all together
March 2, 2022 – Since coming back to my office after a week in the United Arab Emirates to attend the Dubai Diamond Conference (DDC), the Jewellery, Gem and Technology (JGT) show, and the 2022 Presidents’ Meeting (PM), our world was turned upside down. After Vladimir Putin’s invasion of Russia’s sovereign neighbor Ukraine, the DDC’s […]
Are Memo goods any good?
October 29, 2021– Memo goods… Those are two words that a lot of traders in polished diamonds would rather not utter or hear. After all, once you give goods out on memo, they are out of your available stock, out of your control, and often for a longer period than anticipated – all with an […]
Our greatest opportunity may be mercury
August 25, 2021 – The jewelry industry is at a remarkable moment, facing perhaps one of the most critical choices we’ll ever make. There is an extraordinary opportunity hidden in the problem of mercury pollution in our gold supply chain. 15~20 million artisanal and small-scale gold miners (ASGM) in 70+ countries release 12,000 pounds of […]
On the fringes of our awareness
September 12, 2021 – From edition to edition of IDMA’s WINC, the – almost – Weekly Internet News Collection offered to you by the International Diamond Manufacturers Association, I spent numerous hours finding, reading, and ranking news and information that is relevant and of interest to our members and members of the diamond industry at […]
In Memoriam – Willie Nagel
August 5, 2021 – Last week, we lost an industry icon: Willie Nagel. Generations of diamond manufacturers in all major diamond centers crossed paths with Willie Nagel at some point in their careers. His stature, influence, help, and humanity will be cherished and remembered fondly by the global diamond industry. Below, we pay tribute to […]
Are we part of the fashion industry?
July 5, 2021 – The diamond, gem, and jewelry industry and trade are an integral part of the luxury consumer product industry and market. But when asked if our industry is part of the global fashion industry, many industry members won’t know how to reply. Last week The Business of Fashion (BoF) platform provided a […]
Revenge spending
June 11, 2021 – Summer is upon us, and the countdown to the holiday sales season has begun. In earlier, ‘normal’ times, the above sentence would have been greeted with a shrug and the remark, “So what else is new?” Not anymore. Now, this plain sentence, “Summer is upon us, and with that, the countdown […]
Pandora’s false and misleading narrative
May 9, 2021 – On May 7, the leadership of the Responsible Jewellery Council (RJC), the World Diamond Council (WDC), CIBJO, the World Jewellery Confederation, the Natural Diamond Council (NDC) and the International Diamond Manufacturers Association (IDMA) called one of the world’s leading fashion jewelry retailers, Pandora, to task for publishing a public statement with […]
LGDs: set your own bar higher
April 22, 2021 – Do you recall the concerns that sparked the industry when the filling of feathers in diamonds, the “Yehuda treatment,” was revealed to the industry? How about the panic wave that hit the industry when HPHT (High Pressure, High Temperature) diamonds came into the market? The discussions, arguments, and occasional mudslinging that […]
To be equally fair for all
March 25, 2021 – Earlier this week, the World Diamond Council sent out its latest newsletter. It includes several items that deserve your time and attention Talking about the changes our industry is going through, she writes: “Governments, communities, employees, and many other stakeholders rely on the strength of the positive impact that diamonds deliver, […]
Source over size: How to save the diamond iceberg from melting down
March 8, 2021 – In March 2019, during my stint as Editor in Chief of IDEX Magazine, I published a cover story entitled “The Iceberg of Diamonds and Climate Change.” * In the article, I compared the diamond industry and its production to an iceberg floating in the “luxury products ocean.” The bulk, roughly 90 […]
Leadership is a shared responsibility
February 22, 2021 – Last week, I concluded my fourth and last term as president of the Diamond Manufacturers & Importers Association of America (DMIA). In a message to the membership, I expressed my heartfelt appreciation to the DMIA’s Executive Board and Board of Directors for the support, in many ways, they have always given […]
Be glocal!
January 31, 2021 – A few days ago, I sat down to write out a check. But I had to throw it out and write a new one, as I had inadvertently written: “January xx, 2020.” Thank heavens, 2020 is gone – and for good. We are now going forward and already a full month […]
Semper Paratus
January 21, 2021 – Earlier this month, I gave an interview to the Madrid-based, Spanish-language gem and jewelry trade publication Gold&Time. This news source serves Spain and the Mid- and South-American gem and jewelry markets. Asked what lessons we had learned in the past year. Here are some excerpts for my reply: “In our industry […]
