Consumer confidence to be highlighted during Presidents’ Meeting
Antwerp, November 11, 2009 - Next week the presidents of the 28 bourses affiliated bourses of the World Federation off Diamond Bourses (WFDB) will be gathering in Antwerp, Belgium, to attend the 2009 Presidents’ Meeting of WFDB and of its sister organization, the International Diamond Manufacturers Association (IDMA).To view the Presidents' Meeting programme, I recommend that you visit its dedicated website at www.presidentsmeeting2009.com.
At this year’s Presidents’ Meeting, consumer confidence in diamonds will be at the heart of the presentations and discussions that we will hold with our colleagues. While the WFDB membership is spread over all five continents, we all are affected equally by the global economic slow-down and consequent lower consumer spending on jewellery, and we all need to consider what the diamond and diamond jewellery business will need to do to protect, retain and even increase its traditional market share in the luxury product market.
We expect that the highlight of 2009 Presidents’ Meeting will be the introduction of the WFDB pricelist for polished diamonds. While I am committed to keep the specific details under wraps until the actual announcement during the Presidents’ Meeting, I can say that this brand-new pricelist will be supported throughout and by the entire supply chain of polished diamonds, from manufacturers to retailers, and in particular by consumers.
As you know, the WFDB’s slogan is “Tradition, Integrity, Accountability.” As the guardians of the international diamond trade, it is our task to develop tools that will increase consumer confidence in our luxury product, the polished diamond. I assure you that the measures that we will introduce at the upcoming meeting will be instrumental in advancing consumer confidence in diamond and diamond jewellery throughout what we often call the diamond supply pipeline.
Therefore, I am looking forward with genuine excitement to next week. I advise those of our members and readers who will not be with us in Antwerp to keep a close eye on the jewellery trade newswires.