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The Presidents of the World Federation of Diamond Bourses (WFDB) are preparing to discuss “critical” issues at its next presidents meeting in Tel Aviv, Israel.
The bi-annual meeting, which will take place between June 14 to 16, has been cited by WFDB president Ernie Blom as “one of the most important” ever held in light of the issues facing the global diamond trade.
Blom said that rarely has the diamond industry had to deal with so many challenges, adding that it is critical that all the bourse presidents attend to present their perspective, and to hear input from their colleagues across the globe.
Blom highlighted that the shortage of industry financing and declining profitability as “undoubtedly” the most pressing issues that WFDB’s members face, while also mentioning the issue of undisclosed synthetic diamonds.
He said: “At the WFDB, we are totally focused on the problems that our members are facing, and gatherings such as the June meeting present us with an ideal opportunity to discuss what moves we can take to try to resolve them satisfactorily.”
The meeting will also discuss the World Diamond Mark (WDM), which the WFDB launched in 2012 to promote consumer desire for, and confidence in, diamonds. Blom said that the WFDB is putting all its weight behind WDM because it believes it is critical for the health and the future of the diamond industry.
Blom said: “We are putting all our weight behind it because we believe it is critical for the health and the future of the diamond industry. The WDM was founded on the idea that sales of diamonds and diamond jewelry can and must perform significantly better in the luxury product consumer market.
