Yerushalmi Bros. Win Best Exporter Award

Yerushalmi Bros., an international diamond company headquartered in Israel and a DTC Sightholder, will receive the Outstanding Exporters Award for 2005 from the Israel Diamond Exchange (IDE) today (Tuesday). The company exported over $145 million worth of polished diamonds last year.

Following the annual general meeting of the Israel Diamond Exchange (IDE), Minister Eli Yishai and IDE President Avi Paz will present brothers Aharon, Tzion, and Benny Yerushalmi with the award.

A recent Amorosso ad by Yerushalmi

Formed in 1974 by Aharon and Tzion, younger brother Benny joined the company in 1982, and was appointed CEO in 1996. Two years later, the brothers received a Diamond Trading Company (DTC) Sight. Since that time, the company has more then quadrupled their exports from Israel, rising from $34 million in 1999 to the over $145 million last year.

One of Yerushalmi’s main markets is China. The company made a long-term strategic decision back in ’96, when the Asian market was on a downward trend, to invest in the country.

In September 2003 the Amorosso / Ai Meng (love commitment, in Chinese) diamond range was officially launched in Shanghai, becoming the first diamond jewelry brand in the market to be introduced by an international diamond firm.

The launch was the culmination of a year-long effort that started with studying the Chinese market, designing the brand, picking the retailers and their locations, deciding on price points, and finally selecting the right personalities to represent the brand at the launch.

The Amorosso jewelry line was specially developed for the China market from Hearts and Arrows cut diamonds, using HIJK color, VS and VVS quality goods – the mainstay of the Chinese market. Due to the limited availability of traditional Chinese goods, the line also includes a wider selection of diamonds in certain local markets.

Being first in China has given Yerushalmi an edge on the market. Their strategy is to cooperate with a local retailer in a market, and back it with marketing: advertising the brand and store, training the staff, and working with the store.

Currently, the Amorosso line consists mostly of rings (Chinese diamond jewelry sales is 70 percent rings), necklaces, and earrings.

At a time when many are criticizing it, Benny credits the DTC and its Supplier of Choice (SoC) program for part of their success. “When SoC was introduced, we were already thinking and planning on a long term branding initiative,” he told IDEX Online. “Their rough diamond supply is growing, consistent, prices are usually competitive, and they support us in our marketing initiatives.”

Yerushalmi Brothers has nine offices around the world and polishes in Israel, India, and China. In addition to Amorosso, it has another brand, Natalie K, a joint venture with MK Diamonds. This U.S. brand is a middle and high market bridal and fashion jewelry line.