In a move unusual for any industry, the Israeli diamond trade on March 31 premiered a brand identity for itself and a global marketing campaign to promote it.
“This is a very high step for our industry,” said Efraim Raviv, managing director of the Israel Diamond Institute during a press conference at Baselworld 2006 in Switzerland. “But branding is a must in today’s world, if we want to maintain our position in the international marketplace.”
Shmuel Schnitzer, president of the World Federation of Diamond Bourses and chairman of the IDI PR and Marketing Committee, said, “Embracement of branding in the diamond world has been slow in coming … but it has, slowly but surely. This project is one step further in increasing worldwide awareness of the Israeli diamond industry and its identity among our customers and consumers.”
The tagline of the campaign is “The Israel Diamond Industry—All You Could Ask for in One.”
The launch was the culmination of an extensive one-year project by IDI in association with the branding firm Parazar Brand Boutique.
Aviv Shir-On, Israel’s ambassador to Switzerland, whose presence at the press conference underlined the importance of the project to the country, heartily endorsed the new campaign. “The Israeli diamond industry is one of the builders of the Israeli economy and an important factor in the international diamond business,” he said.
For the first stage, IDI has placed a 20-page, full-color insert into major trade publications. An ad campaign will follow in the second half of 2006 in leading trade media around the world.
The branding campaign highlights characteristics of the industry that, says IDI, give it an edge over other diamond centers. They include a heritage of excellence and craftsmanship, based on a long historical tradition; sizable market share in polished diamonds (Israeli firms manufacture about two-thirds of the world’s gem-quality diamonds); strict adherence to international standards; and the world’s largest diamond trading floor.