“It is impossible to replace human emotions, neither with electronic gadgets,
nor with synthetics or even a Birkin bag...:
Alex Popov is the Chairman of the World Diamond Mark Foundation (WDMF), which was established over two years ago in Hong Kong. WDMF has rolled out several generic marketing programs for jewelry retailers worldwide and three exclusive marketing programs for Authorized Diamond Dealers. Mr. Popov told Rough&Polished how this project is being implemented and discussed the prospects for the diamond industry.
How are things going on at the World Diamond Mark Foundation you are heading?
We are working on several levels. In the fall of 2015, we introduced some changes to the program, which quickly found a positive response from both retailers and diamantaires. The WDM concept was refined with the help of consultants invited from the world of luxury. The goals and tasks set by WDM turned in to a clear and understandable concept to all. It presented a business plan for the next three years, which was approved at a meeting of the Foundation’s Board in Hong Kong in March.
The chief efforts of our team are aimed at developing digital marketing programs for consumers, taking into account the interests of diamond jewellery retailers.
We are currently working on launching two websites, passion.diamonds and trust.diamonds, where consumers will be able to "plunge" into the world of diamonds, to see and learn a lot for themselves, as well as to get information on how to buy diamond jewelry, find out the difference between synthetic and natural stones, etc. Using these websites, they will also be able to check whether a retailer has a WDM status, or leave their opinion about a particular jewelry store.
The other major direction is social media. We have conducted several experiments and found that by using social networks it is possible to achieve amazing results, while investing a relatively small amount of money. We are now working on developing pin-point advertising campaigns and templates for retailers to be promoted via social networks.
And, of course, there is “The Facets of Mankind” Project. Since the end of May, when we announced the launch of the World Diamond Museum, we have already received proposals from three cities to host the exposition there. But more about that later.
Does the economic crisis make you correct your plans?
In crisis, we see the opportunity to create something new and to be ready to move, fully ‘armed,’ to the stage when our work will begin bearing fruit. There are no changes imposed by the crisis on our plans.
What is your attitude to the initiative to establish the Diamond Producers Association (DPA)?
Very positive. This is not an initiative – it is a fait accompli. For a long time, there has been a need to join forces and work for the common good of our industry.
While the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have been around for many decades, the mining companies have always been, figuratively speaking, at the other end of the table, always having their dinner separately and, according to many, taking the best bits. Those few who were allowed to sit at the "master's" part of the table, had to behave "appropriately." This is still partly true today, but this state of things is gradually fading away.
Therefore, the professional association of mining companies is welcome to take a seat at the modest table of all other market stakeholders. The WDM was created by WFDB, joined by IDMA and Gem & Jewelry Export Promotion Council of India (GJEPC), and therefore I speak and act on behalf of everyone who is processing rough diamonds and sells finished products. Welcome!
How successful do you think is the new slogan for generic marketing – “Real is Rare. Real is a Diamond”?
In my opinion, the slogan “Real is Rare™. Real is a Diamond” is very successful for the audience for which it was coined – the Millennials. The results will be announced after the 2016 holiday sales season! I sincerely wish the DPA good luck - for all of us it is important that this could be a success.
At WDM, we decided to focus on potential customers of jewelry stores with a slogan, which can be translated into any language – “Find a Part of You in Diamond.” In this way we complement “Real is Rare™. Real is a Diamond” with an invitation to go to a jewelry store, while DPA complements “Part of You” with an emotional aspect. I think it's a great tandem, as they say, a win-win!
Do you remain optimistic regarding the future of the diamond segment in the luxury industry?
I am generally optimistic, although they say that optimism borders on idiocy. I believe that in our industry it is not idiocy, but one’s love for your business, a kind of fascination with your own product, maybe a kind of narcissism. Usually, it does not do any good, but without this our industry will lose its inherent relationship to art and instead become a producer of spare parts and components for rings, earrings and watches, with all the ensuing consequences.
There will be large and painful changes, but our industry will survive, because it is designed to awaken strong emotions in people, and this cannot be replaced neither with electronic gadgets, nor with synthetics or even a Birkin bag. I feel that I am extremely fortunate that I can somehow influence on the revival and a new era in the industry. I believe that this will come true.
We all remember the wonderful exhibition of Indian jewelry in the Kremlin. Do you plan to launch something equally interesting?
The answer is simple - yes! I have already mentioned The Facets of Mankind. If the Kremlin exhibition displayed “jewels that enchanted the world” from India, in this ambitious project we will show what nature and human imagination can do with the example of rough and polished diamonds and diamond jewelry gathered from around the world.
The concept of this museum is to show all the rough and polished diamonds and jewelry pieces, which in some way influenced the fate of people and even countries, and continue to excite the minds to this day. Of course, it is impossible to show all at once in one place, and so we are working in parallel on a grand multimedia installation and a traveling exhibition, which, in addition to the interactive part, will also include “live” exhibits - from 50 to 150 items, depending on the place of display, timing and availability of own collections in the hosting museums.
In addition, we are compiling an archive of studies and publications, which will be available for those who want to deepen their knowledge and maybe get interested in this fascinating subject.
There are decades of work ahead, but we expect to “open” the museum at the start of 2017, and those who will come after us, will continue to replenish and maintain the “exhibits.”
As I said, since we announced the Museum, almost every day I get letters from all over the globe offering to place exhibits, provide information, share family archives, or simply asking "how can I be useful." It certainly helps to maintain the optimism and energy to put all this into practice.
But this looks like a large-scale and long-term project!
All that I have mentioned requires not only selfless labor, but also talent and time, and this costs serious money. I want to encourage all industry players to take their mind off the current crisis for a while and ask themselves, where they see themselves in 20 years. If the answer is to switch over to real estate in Thailand, or create a new Uber, or move to Las Vegas (avoiding the Show), then you better forget about all the things I said.
If the answer is to stay in a new, exciting and profitable luxury industry, then it is necessary to contribute to our common future with your connections, talents, money, work, advice or in any other way. WDM is keeping a "golden book", which is actually white and blue, where all those who help in our work, inscribe their chapter of history. Someday, this book will take its rightful place in the World Diamond Museum, along with its authors.
Galina Semyonova for Rough&Polished
