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  1. Q1 Gold Jewellery Demand Soft, Says WGC
  2. Jewellery Buying Groups Formed New Global Alliance
  3. Singapore to Host Jewellery & Gem World 2022
  4. ‘Wonder Woman’ Gal Gadot Premiered in Tiffany’s 2022 High Jewellery Collection
  5. Christie’s to Auction ‘The Light of Africa’ for $18M in June
  6. New Board of Directors were elected to Jewellery Exporters Association of Turkey
  7. Oroarezzo back with Première Competition
  8. ‘De Beers Blue’ auctions US$57.5M at Sotheby’s
  9. CTF launches Mother’s Day collection
  10. Jewelers of America Announces The 2022 CASE Award Winners
  11. De Beers: Diamond Businesses Staying Cautious About Business Expectations
  12. Synthetic Alexandrite Pioneer David Patterson Dies at 89
  13. 205 CARAT FANCY INTENSE YELLOW DIAMOND GENEVA MAGNIFICENT JEWELS | 11 MAY 2022
  14. Rebecca Foerster Appointed As President of Hearts On Fire
  15. US Steps Up Sanctions Against Alrosa
  16. PGI Study Findings: Consumers Have Different Interpretations of Sustainability
  17. Irving Wong Appointed as Pandora’s General Manager For China
  18. Rolex’s 6 New Watches Unveiled at Watches & Wonders Geneva
  19. Sixième Sens par Cartier High Jewellery: Heteractis Ring
  20. Will Russian Diamond Ban Help Foster Lab-Grown Diamond Business?
  21. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  22. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  23. JEWELLERY GENEVA Takes Place between 30 March and 3 April 2022
  24. Christie’s Presents 228 carat White Dimond
  25. Gold Bar Integrity Programme to be Implemented
  26. Press Release: BONHAMS ANNOUNCES ACQUISITION OF BRUUN RASMUSSEN AUCTIONEERS – DENMARK’S LEADING AUCT
  27. Early Spring Fashion for Natural Diamonds
  28. Jennifer Garner Shines in De Beers Jewellers at the Premiere in New York
  29. To celebrate its 15th anniversary, “Cartier Women’s Initiative Impact Report”
  30. American Gem Trade Association Announces Partnership with JCK Show Again
  31. Chow Tai Fook and Canada's Mountain Province Diamonds Sign Supply Agreement
  32. Registration Is Open for 2022 JCK Show
  33. Alrosa Caught Up in U.S. Sanctions
  34. Tawhid Abdullah Receives Lifetime Achievement Award
  35. The Largest Blue Diamond Appears at Sotheby’s Auction
  36. Price Rise for Nearly 90% Of Fancy Colour Last Year
  37. Dickson Yewn’s Collectibles Given for Sotheby’s Charity Auction
  38. De Beers Boosts Production
  39. Watches & Wonders Geneva To Be Held In Hybrid Format
  40. Jewellery, Gem & Technology Dubai to Debut February
  41. Hong Kong Losing its Dominance as the World's Largest Watch Market
  42. Gift Guide for CNY
  43. Press Release: Sotheby’s Announces New Appointments To Luxury Team In ASsia
  44. Georg Jensen Becomes a Certified Member of RJC
  45. 555.55-carat Black Dimond Unveiled at Sotheby’s Auction
  46. GIA Appoints Anna Martin as SVP for Institute, Industry Relations
  47. Alrosa Boosts Direct Sales of Fancy Diamonds to Investors
  48. CIBJO General Assembly postponed to March 17 and 18, 2022
  49. 7,525 Carat Emerald Discovered
  50. Karl Lagerfeld Jewellery Collections to Shine
  51. Diamonds Travel To The Space
  52. Vicenzaoro January postponed to March
  53. America’s Youngest Jeweller Starts Business via Instagram
  54. Concerns over conflict gold arise again
  55. The 1st International Gemstone & Diamond Trade Summit Wraps Up in Macao
  56. The Knot’s Study:Over 30% of Respondents Say Natural Diamond Unimportant
  57. Pantone’s 2022 Colour of the Year: Very Peri
  58. Phillips Jewellery Auctions Fetch over HK$181 Million
  59. The World’s First Pure Gold Castle of Magical Dreams by CHOW TAI FOOK
  60. Jewellery Sales Jumped 78% During the Thanksgiving Holiday
  61. Gem Auctions DMCC’s Debut Auction Successful
  62. Cartier’s Christmas Tree Lights Up the City with Love and Hope
  63. Rediscovering Lacloche in Hong Kong
  64. Blue diamonds to lead Christie’s HK autumn sale
  65. JMA show to stage next Thursday
  66. HK auction to help Cambodian kids
  67. Basel fair cancelled again
  68. HKDI show to continue in Dec
  69. Gemfields sells 7,500-carat emerald for good
  70. Sustainability is key to diamond purchases, a report says
  71. Christie’s Geneva jewellery sale fetches CHF53.7m
  72. Cibjo forms working group on fei cui standards
  73. Only Watch raises CHF30m for DMD research
Read More...


HIGHLIGHT

  1. US market unfolds changes and potential
  2. The queen of gems, the gem of queens
  3. Classics return

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  • IDE’s trading floor, the world’s largest diamond trading hall, during IDWI
  • Aviel Elia

Interview with Aviel Elia, managing director of IDI

The diamond trade is a significant segment of Israel’s economy, representing 15 percent of the country’s total industrial export value and employing about 20,000 out of 55,000 people in the diamond industry globally. Among many organisations in Israel that help promote the industry in the international sphere, the Israel Diamond Institute (IDI) plays a central role in effectively developing new horizons and innovative methods for the industry.

 

In May 2018, IDI appointed Aviel Elia as managing director to lead the institute. Hong Kong Jewellery talked with him recently on the current situation of Israel’s diamond industry, its SME diamantaires’ development, markets of mainland China and Hong Kong, to name a few.

 

HKJM: Hong Kong Jewellery

AE: Aviel Elia

 

HKJM: How’s Israel’s diamond trade this year so far compared to 2017?

AE: This year we have seen a certain decline in diamond exports, due in large part to reduced bank credit to the diamond industry. But we are taking major steps to correct this. One of these is cooperation with the Israeli government which has created a tailor-made financial and marketing package to support the diamond sector. With this aid and the steps we are taking, we are very hopeful that Israel’s diamond exports will spring back.

 

HKJM: Hong Kong is a main market of Israel’s diamond exports. With a rising demand from Hong Kong, or more broadly China, how would you comment on the future trend of this market?

AE: We believe in Asian markets and we know that even if there are rough patches, and we have experienced some here and there, we are looking at the long-term. China’s middle class is growing and the demand for diamonds will grow as they become more prosperous. It is already happening. China’s consumer market has bounced back and the demand for luxury goods is rising. We need to make sure that we continue to be important players in the supply of diamonds to China.

 

Asia, especially Hong Kong and mainland China, is so important to us that we participate in all four trade shows in Hong Kong every year. This year we will take part in China International Import Expo in Shanghai in November.

 

HKJM: SME diamantaires constitute about 70 percent of Israel’s diamond trade, what are the challenges facing them?

AE: SME diamantaires make up the backbone of the industry. They are facing significant challenges, not the least of which are the bank credit difficulties. Since 2008, bank credit to the Israeli diamond industry was reduced from US$2.2 billion to US$1.5 billion. We are working with the Israeli government to try to rectify this situation which is choking the industry. The government has established a special fund to provide financing especially to the smaller players. We are also negotiating with additional banks to enter into the industry.

 

HKJM: What are other measures taken by IDI recently to promote the trade and help Israeli diamantaires?

AE: IDI has been the major factor in several areas that we believe will make a difference in future. We are expanding our presence in major trade shows in new markets. Besides that, we also know that traditional trade shows are on the decline, so we are working with the Israel Diamond Exchange (IDE) to promote the annual International Diamond Week in Israel (IDWI), which has become an important trade show for the diamond industry, with minimal costs and maximum business opportunities. Our format has been copied by other diamond centres as it is successful. The next IDWI will be held during 28-30 January 2019.

 

An additional area in which we have led the industry is e-commerce. We established Get Diamonds, a free B2B platform for the Israeli industry and we see it growing from year to year. We initiated relationships with major B2C e-commerce sites, where Israeli diamantaires are selling diamonds directly to the public around the world.

 

HKJM: What is your plan to better serve IDI and the trade in your term?

AE: I believe that marketing is a key element in expanding Israel’s diamond trade, and that is one of the areas that IDI is responsible for. With the encouragement and even budgets from the Israeli government, we are creating a marketing programme for the next 18 months that will include some very new and exciting marketing initiatives, which we will be leading.

 

HKJM: With the recent rapid development of some emerging diamond trading hubs in the globe, how do you see Israel’s current status in the global diamond industry?

AE: Israel will remain an important diamond trading hub for both rough and polished diamonds. While we have been known for many years as a centre for the polished trade, in recent years we have become a significant player in the rough diamond trade as well. The world’s major diamond producers are now holding rough tenders in Israel, especially of their larger and high-level goods.

 

As for diamond polishing, we are working on revitalising the polishing business of large stones in Israel. In the next few months, we will be opening, together with IDE, two new polishing factories especially for large stones, where we will offer special terms and convenient locations to attract diamond polishers. We have signed an agreement with the Shanghai Diamond Exchange, which we will polish Chinese diamonds in Israel.

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