Market the diamond as a luxury product

14 Feb '08

2 min read

Ganz also delivered a clear message to manufacturers: no customers, don't polish. He said that manufacturers must stop purchasing rough and polishing diamonds for stock.

“All industries, worldwide, have moved to manufacturing by demand…Only the diamond industry has failed to join this global trend,” he said.

Ganz implored rough producers to support the promotion of diamonds as a luxury product. “Every rough producer should take part in the generic advertising of diamonds. This task must not be left in the hands of a single rough producer,” he said.

In Ganz' view all producers should act as De Beers does – to spend 3% of sales turnover on advertising. “In the long-run this investment will be repaid, as the awareness of diamonds increases in the consumer market,” he added

The”Producer Strategies” session also featured De Beers Managing Director Gareth Penny, Harry Winston Diamond Corp. President Bob Gannicott, Gem Diamonds Managing Director Clifford Elphick, Alrosa President Sergei Vybornov, Namdeb Managing Director Inge Zaamwani and Mwana Africa CEO Kalaa Mpinga and Petra CEO Adonis Pouroulis.

The Third International Rough Diamond Conference was launched with the gala re-opening ceremony of the Harry Oppenheimer Diamond Museum in Ramat Gan. The conference was attended by over 400 participants from Israel and around the world.

Israel Diamond Institute

More Fashion News - Israel...