New York, NY – In an effort to harness increasing consumer demand and sustain the prosperity of the natural diamond industry, the World Federation of Diamond Bourses (WFDB) has announced a new partnership with the Natural Diamond Council (NDC). This collaboration represents a proactive move in response to shifting market dynamics and a growing need for industry cohesion.
Alongside an initial financial investment, the partnership will focus on strategic initiatives to expand the reach and influence of natural diamond values. The WFDB, with its member bourses and individual members, aims to provide wider exposure for natural diamonds and leverage their unique appeal to consumers.
WFDB and NDC: Shared Vision for the Natural Diamond Industry
WFDB President Yoram Dvash commented on the partnership, expressing the WFDB’s appreciation for the NDC’s distinctive role in promoting natural diamonds. He said, “Today’s consumers have more choices than ever before and are heavily influenced by social media and digital platforms. It is crucial to present the natural diamond industry in a creative and authentic way. We believe that the NDC is successfully doing just that, and we want to support this very important work.”
The WFDB’s commitment to the promotion and support of the natural diamond industry is echoed by the NDC. David Kellie, CEO of the NDC, warmly welcomed the partnership and shared an optimistic outlook, stating, “We are very pleased to partner with the WFDB, which represents diamond traders all over the world. We believe that together we can find many ways to collaborate that will benefit the industry as a whole. Collectively we see considerable growth opportunities ahead, and we will redouble efforts to inspire and move consumers.”
The Impact on the UK Jewellery Industry
This newly formed alliance holds significant implications for the UK jewellery industry. The increased focus and investment in the natural diamond sector will likely stimulate the global diamond market, creating potential growth opportunities for UK jewellers.
The strategic partnership also offers the chance for the UK jewellery industry to amplify its voice on the global stage. As part of the WFDB, UK bourses may have the opportunity to actively contribute to shaping the future of the natural diamond industry.
Moshe Salem, WFDB Vice President, emphasised the need for a more unified industry approach. He said, “We believe that more stakeholders need to come together to invest strategically in the industry. This will help ensure the strength of the industry and will protect the millions of livelihoods that depend upon them, and especially the regions of the world for whom natural diamonds provide the resources for education, health and social infrastructure.”