The Diamond Trading Company said Thursday that it intends to increase sales to Diamdel up to $550 million in 2005, a record level if achieved.
The announcement resulted from “positive discussions” at a meeting in London between a delegation from the World Federation of Diamond Bourses and senior representatives of the DTC (including Gareth Penny, managing director, Stephen Lussier, marketing director, and Varda Shine, sales director), the two organizations said in a joint statement.
The WFDB and the DTC also reached agreement on the following points:
* The DTC recognizes the contribution made by WFDB members in driving consumer demand for diamond jewelry and suggested that there would be a benefit to members’ aligning their marketing campaigns alongside the generic DTC-run campaigns. To this end, the WFDB agreed to help the DTC to make presentations to members of its various bourses about the forthcoming Christmas marketing campaigns and consumer confidence updates
* The DTC acknowledged the leading role played by the WFDB in supporting the diamond industry and agreed to work together with them on appropriate industry initiatives.
* The DTC will provide delegates to participate in a joint committee for the development and implementation of the ‘WFDB Mark.’
In addition, the WFDB agreed to support the new partnership between Diamdel and DJM Institute, “which will promote and enhance expert entrepreneurial and business practice within the developing secondary industry,” the statement said.
“This has been a particularly positive meeting,” Shine said. “The unity of purpose shown by all parties in the meeting lead to frank, wide ranging, and forward looking discussions. … We believe that the actions agreed today will be of benefit to the entire diamond industry.”
“We have aims in common with the DTC in driving the success of this industry for the benefit of all,” added Shmuel Schnitzer, president of WFDB. “Furthermore, we recognize that DTC, through its marketing and consumer confidence activities, provides real value to this industry, unmatched by other participants.”