Headlines

Statement from Martin Rapaport Includes Choice Words for De Beers

Published

9 years ago

January 29, 2016

INSTORE Staff

“De Beers must not repeat their mistakes of last year …”

Martin Rapaport, the chairman of the Rapaport Group that advocates for the diamond market, penned a spirited column that includes some recommendations for De Beers following its recent price cut of rough diamonds that resulted in a $540 million sales windfall. While Rapaport praises the mining company’s decision to reduce prices, he also offers criticism, saying that “De Beers must not repeat their mistakes of last year by overpricing rough diamonds that result in a sharp decline in diamond manufacturing, polished shortages and bullwhip effects that increase volatility and uncertainty.”

He also recommends that De Beers ramp up marketing efforts to stoke demand for generic diamonds, saying that increased advertising is the “right way forward” and helps the company “move away from the disastrous zero-sum game they have been playing with the diamond trade.”

Windsor Jewelers: Building for Tomorrow with Wilkerson

After 43 years in the jewelry industry, Windsor Jewelers' President Rob Simon knows the value of trusted partnerships. When planning a store expansion in Winston-Salem, North Carolina, he turned to Wilkerson to transform existing inventory into construction capital. "There have been very few companies I've dealt with that I totally trust," Simon shares. "Wilkerson understands their success is 100% based on your success." The partnership enabled Windsor to fund new showcases and construction while maintaining their position as their community's premier jeweler. For Simon, the choice was clear: "Over the years, I've been abused in every direction there is by different people in this industry, so I know what to avoid. One company not to avoid is Wilkerson."