The Diamond Trading Company (DTC), the sales and marketing arm of the De Beers Group, announced its participation in the Watches and Jewellery Fair, which begins on 05 December till 09 Dec 2005.
DTC’s participation in the fair is highlighted by its staging of the Dubai Diamond Days event, a series of workshops that seek to bring together diamond dealers and local traders to help them to understand and to respond to changing consumer and market opportunities in the Gulf.
“We are delighted to participate once again in the Watches and Jewellery Fair. We have been ardent supporters of this event from its inception, and we are keen on taking this opportunity to enhance our relationship with our trade partners in the region, as well as to show our support to the diamond community in general,” said Jonathan Chippindale, Marketing Director – DTC Gulf Markets.
In addition to workshops for its sightholders and Gulf trade partners, DTC will also be hosting a series of seminars that seek to enhance consumer confidence in the value, prestige and beauty of diamonds. “Diamonds are nature’s most incredible and precious gift and we believe it is imperative that consumers continue to believe this, and feel knowledgeable and confident about the piece they are buying,” said Chippindale.
The Middle East is experiencing a diamond trading boom, thanks to the development and economic progress achieved by a number of countries in the region. The UAE is at the forefront of this upward trend in diamond sales, along with Saudi Arabia, a traditional big-spender on diamond jewellery.
Since we set up offices here in 2000, we knew that the strategic location and network offered by Dubai would be instrumental in achieving solid growth in the region – and the 14% increase in diamond sales in the Gulf last year is
clear proof of this. This year the diamond market is again excellent with third quarter sales in the region of 15% - the highest growth since the DTC started working in the Gulf.” added Chippindale.
Dubai is rapidly emerging as a major international diamond trading centre, a testament to the vibrant diamond industry in the region as well as Dubai’s traditional strategic role as the region’s trade gateway to Asia and Europe. We applaud Dubai's efforts and wish Dubai a prosperous and glittering future.
“We have the same high hopes for the Gulf region, it being the fourth largest diamond market in the world. Arab nationals are passionate about diamonds and spend close to $2 billion on diamonds in this region,” noted Nicholas Graham-Smith, DTC Regional Director.
The workshops and seminars that will take place during the Diamond Days event supplement DTC's extensive database on consumer behaviour and preferences, as well as diamond industry forecasts. Nicholas Graham Smith said: “On a regular basis, we commission and undertake research projects that focus on the various opportunities and challenges that confront the diamond industry. With a comprehensive knowledge-base that we and our traders can draw on, we believe we are helping the industry establish a good position to progress and surmount challenges along the way.”
The main goal of all these is to provide a comprehensive support system to our trade partners so they can market their jewellery, as well as increase consumer confidence in the diamond industry.
DTC is also working very hard to increase consumer confidence in diamonds. This is done through various information campaigns that educate consumers and trade about the value and prestige of diamonds.
Part of DTC’s ongoing initiative is to increase consumer demand for diamonds by encouraging and empowering its clients to work with dynamic downstream partners in focused marketing initiatives.
“We believe in a more marketing oriented approach that helps DTC’s sightholders identify opportunities in the market place and creates greater investment in advertising and promotion and enhanced consumer confidence
through wider choice and added value,” said Anan Fakhreddin, DTC Diamond Promotions Services Director - Gulf.
Looking ahead, DTC intends to make a significant increase in the level of resources it is committing to support the Dubai trade, including the hiring of a new Diamond Promotion Executive specifically focused on assisting the Dubai diamond trade by holding marketing seminars and training programmes throughout the year.
DTC also presents a new inspiration for jewellery designers in the Middle East: “Rayana”, which is a programme that supports high value diamond sets, targeting key social occasions such as weddings. Rayana presents a new design inspiration, which is based on extensive consumer and design trend research. With Rayana, the DTC will emphasise the incredible ability of a diamond set to turn heads and capture a room’s attention with its dazzling sparkle.
Also for launch next year is the Forevermark, a physical and innovative way to guarantee that a diamond is genuine, natural and has not been altered or treated by any artificial means. It is also the sign of DTC's assurance that the diamond has been cut by a certified professional craftsman, releasing its dazzling, natural beauty. “It symbolises DTC’s commitment to integrity by the adoption of the highest professional and ethical values throughout a network of partnerships that will bring considerable added confidence to consumers” Fakhreddin added.
