A nice thought has come through the public message delivered by IDMA president Maxim Shkadov, that it was time for the industry to strengthen the share of the diamond industry in the luxury segment. A strong message came forth also, that the rough diamond producers, who in Shkadov’s words ‘biggest stake in our pipeline, by those who sell their goods with the biggest profit margins’ must fund a joint industry marketing plan to increase the share of the polished diamonds and diamond jewellery in the luxury segment.
It is evident that the increase in rough diamond price is way too high than that of the increase in polished diamond prices, thus eating away the manufacturer’s profit and sales and confidence in the market. In this sense if all stakeholders of the diamond supply pipeline were to work together, the burden may appear slightly less.
Certainly, with the entire diamond supply pipeline getting a little more cooperative and supportive of each other, it could help pave the way for a more confident and hopeful approach to strengthen the share of diamond jewellery in the luxury segment.
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