The diamond industry stressed an urgent need for boosting consumer demand through effective marketing during the opening day of the World Diamond Congress (WDC) in Dubai on Tuesday.
Even as industry profitability, bank financing and the threat of synthetic diamonds dominated discussions, participants found themselves returning to their concern weaker demand is exacerbating other challenges.
“We must all contribute, cooperate and do all we can to maintain and strengthen consumer confidence in natural diamonds, for the benefit of the entire diamond supply pipeline,” said Ronnie Vanderlinden, secretary-general of the International Diamond Manufacturers Association (IDMA).
The secretary-general called for greater support for the World Diamond Mark Foundation, a diamond promotion initiative of the World Federation of Diamond Bourses (WFDB), and for closer cooperation between the Mark and the Diamond Producers Association (DPA).
Jean-Marc Lieberherr, chief executive officer of the DPA, assured cooperation with the industry as the association prepared its debut campaign for the JCK Las Vegas show on June 3.