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Articles from DIAMOND JEWELLERY (903 Articles), DIAMONDS BY CUT - BRILLIANT (ROUND) (285 Articles), INDUSTRY ASSOCIATIONS (262 Articles)











The conference will focus on reviving consumer interest in diamonds. Source: Cerrone
The conference will focus on reviving consumer interest in diamonds. Source: Cerrone

World diamond conference aims to reignite consumer demand

The global diamond industry will unite at an international conference later this year to discuss the future of diamonds and diamond jewellery in the global luxury consumer market.

The World Diamond Conference will be held in Delhi, India, from 11 to 12 December 2014. The event is being organised by Hong Kong’s World Diamond Mark Foundation (WDMF) in cooperation with India’s Gem and Jewellery Export Promotion Council (GJEPC) with support from the Indian Ministry of Commerce and Industry.

Alex Popov, WDMF chairman
Alex Popov, WDMF chairman

The conference will focus on reviving consumer enthusiasm for diamonds and on how to increase the industry’s market share in the luxury sector which, according to a GJEPC press release, is currently the global diamond industry’s most urgent concern.

WDMF chairman and Moscow Diamond Bourse president Alex Popov stated that consumer demand for the sector required a “tremendous boost” and that global marketing in particular was “a significant area that needs detailed deliberation”.

“The World Diamond Conference is an effort to consolidate the industry under one roof and plan a way forward,” he said.

Commenting on the selection of conference location, GJECP chairman Vipul Shah explained, “India is not only the world’s major diamond producer; we are also a huge manufacturer of jewellery and, last but not least, an enormous, expanding consumer market. Also, with our economy growing strongly and with a middle class that continues to expand and develop a taste for luxury, a lot of the WDMF’s marketing and promotion programs will fall on fertile ground.”

The conference is expected to attract representatives from leading major diamond producers, diamond and jewellery manufacturers, retailers and other diamond-related organisations. Representatives from major global mining companies are also expected to attend.

Vipul Shah, GJEPC chairman
Vipul Shah, GJEPC chairman

Further to this, Shah indicated to Rapaport News that invitations had been extended to Indian prime minister Narendra Modi and Russian president Vladimir Putin.

“Through this conference, we aim to establish closer ties with Russia and we shall also have a chance to come face-to-face with representatives from different mining countries of the world,” Shah said.

Last month, global diamond company De Beers also highlighted the importance of marketing for the diamond sector in its inaugural Diamond Insight Report, stating that further investment in branding was required to maintain consumer interest.

The WDMF is a non-profit organisation established in 2012 by the World Federation of Diamond Bourses to promote consumer interest and confidence in diamonds.

The GJEPC, which was established in 1966, aims to introduce Indian gemstone and jewellery products to the international market to promote exports.

More reading
Diamond jewellery demand reaches record high


Ania Haie
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