Recognising increased consumer demand as being critical to the prosperity of the natural diamond industry, the World Federation of Diamond Bourses (WFDB) has entered into a partnership with the Natural Diamond Council (NDC) to support the growth of the industry.
As well as making an initial financial investment, the WFDB will work together with the NDC to identify ways in which the values of natural diamonds can reach more consumers more frequently, through the direct reach of the WFDB, its member bourses, and their individual members.
According to WFDB President Yoram Dvash, the WFDB greatly values the unique role of the NDC in bringing the story of natural diamonds to consumers. “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,” said Dvash.
WFDB Vice President Moshe Salem added, “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.”
Natural Diamond Council CEO David Kellie said, “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 GJEPC has also played a key role in establishing the NDC by providing yearly donations of $2 million to further its objective of advancing the global generic promotion of diamonds.