The WFDB president discusses diamond marketing and the Indian trade.
President of the World Federation of Diamond Bourses, Ernie Blom, addressed the World Diamond Conference in India yesterday (December 11), speaking to the Russian president Vladimir Putin and Indian prime minister, Narendra Modi.
Blom acknowledged and thanked the GJEPC, WDM and Alrosa for sponsoring the event, which aimed to build the position of diamond jewellery in the luxury goods market. Specifically, Blom outlined the long association between India and diamonds, going back some 6,000 years, and its current standing in the market as the biggest cutter and polisher of diamonds by volume in the world.
He also highlighted that mining houses can no longer be expected to develop a marketing plan and strategy for diamond jewellery, which is the responsibility of the wider industry.
The World Federation of Diamond Bourses (WFDB) represents 30 Bourses across the globe. It now recognises the importance of marketing diamond jewellery to the end consumer, especially considering the high levels of competition for spend.
As a result, the WFDB has created the World Diamond Mark – designed to build awareness, raise funds and launch an extensive program to assist in the marketing and promotion of finished diamond jewellery.
Blom concluded his speech with a comment on diamond certificates, referencing recent grading issues. He announced that the WFDB will host a meeting in early 2015 to facilitate discussion about grading standards and methodology for the industry. This meeting will be inclusive of industry people and key laboratories from around the world.