Industry leaders have a established a think tank that will look at pressing problems in the diamond and jewelry industry.
The World Diamond and Jewellery Forum (WDJF) is envisioned as the World Economic Forum for the jewelry trade. It will operate under the auspices of Fiera di Vicenza, the Italian trade show organizer.
Its first public forum will occur at the premier edition of VICENZAORO Dubai, which will take place April 23–26, 2015.
Former World Diamond Council president Eli Izhakoff will be its chair; CIBJO president Gaetano Cavalieri will be its president; and Fiera di Vicenza managing director Corrado Facco will be its managing director.
The group is not intended to supplant existing organizations, who are invited to participate, a statement said.
“The complete absence of any all-industry analysis and planning mechanism has resulted in situations in which we have often been forced to react after the fact to potentially dangerous threats, which we had not properly anticipated,” Izhakoff said in a statement. “This includes the conflict diamond crisis in 1999 and 2000, the collapse of the Japanese markets in 2007, and the global financial crisis in 2008. It also has meant that we have been late in taking advantage of new and/or developing economic opportunities. WDJF is intended to provide that analysis and planning capability.”