Ganz Describes ‘New World Order’ in Diamond Industry

Moti Ganz, chairman of the Israel Diamond Institute and vice president of the International Diamond Manufacturers Association described ‘the new world order’ prevailing today within the global diamond industry, in which diamond centers vary in the relative advantages they offer to manufacturers, while speaking at the 2007 China International Diamond Conference in Shanghai.

“We, the manufacturers, have no choice but to spread out our businesses and claim as many stops along the diamond pipeline as possible, from mine to retail shop,” Ganz said.

According to Ganz, no major changes are expected in the manufacturing map for the next over the next seven or eight years, and the list of active mines will remain unchanged

Ganz called on manufacturers to form cooperation with jewelry retailers in building brands that will ensure the sale of manufactured goods.

“The diamond industry has a future to look forward to, and through proper reorganization, seeking out direct ties with the final link in the chain and forging long-term relationships with jewelry retailers, we can prevail and be equipped to face less fortunate times,” he said.

As the owner of diamond polishing plants and retail stores Ganz had praise for the Chinese industry. “The Chinese polisher is renowned for meticulous work and close attention to detail. The Chinese industry specializes in special cuts which require outstanding skill.”

Ganz added that the greatest advantage in manufacturing in China is its consumer market. “China offers a special winning combination. This is the only country where the manufacturing is close to the consumer market. If the leaders of the diamond industry in China, together with the government, find a way to prioritize polished diamonds for the local market. This will trigger meteoric development of the diamond and diamond jewelry retail market in China.”