Connect with us

Press Releases

WFDB Re-Elects Ernie Blom, Debates Industry Challenges at 37th World Diamond Congress

mm

Published

on

 

(Press Release)
ANTWERP, BELGIUM – The World Federation of Diamond Bourses’ (WFDB)
presidents and bourse members worked through a packed agenda at the 37th World
Diamond Congress last week, discussing a wide range of issues directly affecting their
members at the 30 affiliated diamond bourses across the globe. WFDB President Ernie
Blom was unanimously elected for a third consecutive two-year term, and Israel
Diamond Exchange President Yoram Dvash was elected as vice president.

Blom said he was delighted with the debates and decisions taken in Dubai at the
biennial meeting of the WFDB and International Diamond Manufacturers Association
(IDMA). The three-day Congress provided the approximately 200 delegates with the
opportunity to discuss at length the issues affecting the global diamond sector under the
theme of “Transparency, Responsibility, Sustainability,” he commented.

"I have attended many Congresses, and this was definitely up there among the top
events," says Blom. "There was an excellent atmosphere and a positive feeling that
change for the better is happening after a difficult past year. This was seen in the very
high level of attendance, with every session being full. I was delighted with the deep
level of commitment and seriousness. The delegates are very concerned with the state
of the industry and were determined to debate issues fully. This enabled us to make
decisions based on a full airing of the views of our members.”

On the agenda were the challenges of financing, price lists, synthetics, the policy of
producers, supply chains and traceability, anti-money laundering, transparency in
business, tenders, as well as other issues.

Among the major steps taken by the WFDB was the creation of an international Young
Diamantaires group. To this end, a group of younger members of diamond firms from the main diamond center – including Israel, India, Belgium, the U.S., South Africa and Australia – will communicate on a regular basis. The aim is to provide mutual encouragement regarding the challenge of leading the diamond industry into the future, as well as a platform for the discussion of relevant issues for the mutual benefit of members.

Advertisement

Underlying all the discussions, both formal and informal, was the clear understanding
that the global diamond sector has to further increase the transparency of its operations
and the integrity of the global diamond supply chain in order to maintain consumer
confidence in diamonds and jewelry. However, members stressed that the diamond
trade works according to the highest levels of industry self-regulation and that it should
be proud of its achievements.

Blom explains: "We have a huge amount of which we can be proud. I stressed that rather than being on the defensive, we should rather go on the offensive in showing our deep commitment to working transparently. How many other industries have taken the steps that the diamond industry has taken over the last 15 years to prove its commitment to making its operations visible to all and with a concern for the people who mine those diamonds in difficult conditions? The answer is very few, if any.

"Our members work according to wide-ranging rules and regulations that ensure that
diamonds are totally free of any possible suspicion, including U.N. resolutions, the
Kimberley Process national legislation, anti-money laundering regulations, Know Your
Customer programs, and the WFDB Code of Conduct and chain of warranties
requirements. The Federation’s members do not currently endorse any private initiative,
but we would like to put on record that we respect the right of all individual diamond
companies to make agreements and implement protocols with other parties as they see
fit, and that, together with the WFDB’s rules and regulations that our members
stringently follow, we are striving to guarantee a transparent supply chain. Furthermore,
the WFDB is in ongoing communication with its affiliated diamond bourses to implement and enforce all relevant rules and regulations.”

The next WFDB and IDMA Presidents Meeting in 2017 will be hosted by the Bharat
Diamond Bourse, while the 38th World Diamond Congress in 2018 will be hosted by the
Israel Diamond Exchange.

Advertisement

SPONSORED VIDEO

Les Georgettes

It’s All About Choices

With beautiful jewelry from Les Georgettes, choice is everything. Choose a design. Change colors. With 30 styles, 3 finishes and 48 stunning leather colors, you’ll never be at a loss for a unique piece of jewelry. Create, mix, stack and collect Les Georgettes by Altesse. Made in France.

Promoted Headlines

Press Releases

CIBJO Releases Marketing & Education Special Report, Analyzes Next Great Jewelry-Buying Generation

Report returns to what has been defined as the next great jewelry-consuming group, Generation Z.

mm

Published

on

(PRESS RELEASE) MILAN, ITALY — With fewer than 10 weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the first of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report returns to what has been defined as the next great jewelry-consuming group, Generation Z, providing a breakdown of what the industry needs to consider if it is to ensure that jewelry remains a favored purchase.

Generation Z refers to young consumers, who currently are 15 to 25 years of age.

“Gen Z is coming to our markets very soon if it has not already arrived in reality,” writes Mr. Kendall. “Its members are forecast to spend a whopping $143 billion this year alone. So we better get them on our side if we want to enjoy a rosy future. In fact, the future success of the jewelry industry will depend on our understanding the needs and wants of Generation Z. Get this right and we can all look forward to strong profitable years moving forward. Get it wrong and we could be destined for the scrap heap – not overnight maybe, but ultimately.”

Communicating predominantly via the social media, studies show that Generation Z is more environmentally conscious and gender neutral than any generation that preceded it. It celebrates authenticity, diversity and human imperfection. It is more likely to heed the advice of a friend, rather than a celebrity.

“Gen Z is prepared to splurge but it must be worth it. The more added value the better, and that can come from its environmental credentials or its social value,” notes Mr. Kendall.

To download a full copy of the CIBJO Market & Education Commission’s special report, click here.

Continue Reading

Press Releases

Gem Legacy Celebrates 1 Year Anniversary

It launched in September 2018.

mm

Published

on

(PRESS RELEASE) ROYAL OAK, MI – Gem Legacy is celebrating the successes of its 1 year anniversary after launching in September 2018 by founder Roger Dery. Gem Legacy is a 501(c)3 nonprofit supporting education, vocational training, and local economies in East African colored gemstone mining communities.

The first year has boasted many successes, thanks to industry partners and donors. Roger Dery, founder and executive director of Gem Legacy looks back on the first year: “Lives are deeply affected because we’re ensuring that a group of widowed miners will find Tsavorite Garnet, 28 orphans will get a full education, kids are getting full nights of sleep on new mattresses, and young adults are entering the gem industry with knowledge in gemology and gem faceting. They have hope because we, the jewelry industry, are saying ‘we see you and we believe in you.’”

Other highlights from Gem Legacy’s first year include the formation of its advisory board (Christina Clover-Field, Ben Smithee, and Monica Stephenson) and its Leadership Council (Omi Gems and Parle Jewelry Designs). The leadership council is growing to be a consortium of the industry’s top leaders dedicated to sharing Gem Legacy’s mission and activating a united industry-wide effort to support the mining communities in Africa.

Continue Reading

Press Releases

Technological Solutions for Sustainability and Responsible Sourcing Spotlighted at CIBJO-IEG Seminar

Seminar marked the 10th year of cooperation between CIBJO and IEG.

mm

Published

on

(PRESS RELEASE) MILAN, ITALY — With members of the jewelry and gemstone sectors under growing pressure to actively demonstrate that they are conducting their businesses in a sustainable manner, including verifying that the items they purchase, process and sell have been sourced responsibly, a range of technological solutions are currently being developed to help them comply with the due diligence requirements. These came under the spotlight during a seminar on September 9, 2019, at the VICENZAORO show in Vicenza, Italy, organized by CIBJO and hosted by the Italian Exhibition Group (IEG).

The seminar was the latest edition in a series of educational programs organized by the two bodies, which is endorsed by the United Nations Economic and Social Council (ECOSOC), to support corporate social responsibility and sustainability in the jewelry sector. As Marco Carniello, director of IEG’s jewelry and fashion division pointed out, the seminar this September marked the 10th year of cooperation between CIBJO and Italy’s leading jewelry trade show organizer.

A growing percentage of the jewelry, gemstone and precious metals industries have taken steps in recent years to implement sustainable and responsible sourcing principles in their businesses, with more than 1,300 worldwide already certified by compliance organizations, after undergoing monitoring by independent auditors. But in an industry that is dominated by small and medium-sized companies, many participants find it challenging to follow suit and consequently could experience difficulty in gaining access to chains of supply. The technologies discussed at the seminar are largely being developed to address these challenges.

“CIBJO is committed to the development of an ethical and sustainable jewelry industry, which sources its raw materials in both a responsible and transparent manner,” said CIBJO President Gaetano Cavalieri, opening the seminar. “As we reiterated in the new Responsible Sourcing Blue Book which was approved earlier this year, we believe that all participants should do due diligence to the best of their ability. At the same time, we also insist that no ethical members of our community be discriminated against because they currently lack the resources necessary to implement a full compliance system. It is for this reason that we view the development of technological solutions as being so important.”

The panel of speakers, which was moderated by Erik Jens, vice president of CIBJO’s Responsible Sourcing Commission, represented a cross section of this growing industry service sector, providing solutions to industry participants at all stages of the chain of distribution, from the mine to the retailer.

Continue Reading

Most Popular