The World Federation of Diamond Bourses (WFDB) recently held a productive Executive Committee meeting in Milan, Italy, hosted by Luigi Cosma, President of the Italian Diamond Bourse. The meeting, led by Yoram Dvash, President of the WFDB and attended by nearly all members, focused on critical issues facing the diamond industry and discussed strategies for growth and sustainability.
Despite ongoing challenges, the WFDB remains optimistic about the future of the diamond market. Restrictions on rough production and cuts in polished manufacturing have led to shortages of popular goods, creating opportunities for price appreciation. The US, a major diamond market, is expected to experience a strong holiday season, boosting industry confidence.
To enhance natural diamond marketing efforts, the WFDB has decided to launch a dedicated YouTube channel. The channel will feature professionally produced videos that educate consumers about the unique qualities and symbolism of natural diamonds. The WFDB is also actively seeking partnerships with other organisations to amplify its marketing campaigns.
In addition, the WFDB is committed to strengthening its relationships with leading diamond and jewellery organisations worldwide. Regular meetings will be convened to facilitate knowledge sharing and collaboration.
The next Presidents’ Meeting will be held in the US in 2025.