Israeli Diamond Industry’s Baselworld Breakfast

The Israeli diamond industry’s annual breakfast press conference at BASELWORLD 2008 revealed how Israel has maintained its central position in the global diamond industry over the past year, as well as its plans for future growth, according to Israeli diamond industry officials.

The press conference, the key diamond event during the show, featured an address by Eli Avidar, managing director of the Israeli Diamond Institute Group of Companies. It also presented a panel of second-generation Israeli diamantaires whose companies have created successful marketing niches by focusing on the luxury product market.

Throughout his speech, Avidar stressed that the Israeli center had anticipated these events and tailored its strategic program to address these issues. “Despite the many transitions and challenges, we have realized our strategic plans and even expanded upon them,” he said.

Avidar cited Israel’s trade statistics as proof: 2007 saw Israel reach a record total of over $7 billion in net polished diamond exports

Avidar said that IDI’s declared goal has been to open new markets. The year 2007 was the IDI year of China, he said, and IDI had rigorously pursued that goal by opening an office in Hong Kong, participating in trade shows in China, and establishing the Chinese language portal site. Avidar said 2008 would be the year of India, with emphasis on this growing economy as a consumer market. Avidar stressed that in both China and India, IDI was working to educate the consumers to buy more diamonds, and was seeking to create international cooperation in this effor

The panel discussion that followed included Nathan Korn, vice president, Korn Diamonds; Amihai Zivan-Sussholz, Polished Division manager, YEI – Yahalomei Espeka International and Lior Eshed, general manager, Gemstar & Eshed Diam. Their presentations showed some of The Israeli Diamond Industry’s successful partnerships with top jewelers and retailers, and underscored the industry brand promise: “All you could ask for in one.”

Korn demonstrated how Israeli expertise is enabling fine jewelers and watchmakers to incorporate invisible settings of fancy shaped diamonds in their designs. Zivan-Sussholz discussed how to create a successful partnership with jewelry manufacturers, by providing perfect calibration, consistent quality, continuous supply, and value added services. Eshed provided a glimpse into the glamorous world of large and expensive stones, which can sell for up to and over a million dollars per piece.

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