DTC Hong Kong Seminar Focuses on Future

The Diamond Trading Company (DTC) says it’s expecting positive growth in the second half of the year, fueled by new diamond jewelry campaigns. Speaking at a seminar at the Hong Kong Watch and Jewellery Fair Wednesday, DTC managing director Varda Shine warned that corporate ethical behavior is necessary.

Following Shine’s opening remarks, David Lamb, worldwide marketing director at the DTC said global consumer demand for diamond jewelry during the first half of the year was marginally weaker compared to 2005. It grew four percent compared to a five percent growth in 2005.

Demand in Europe decreased two percent during the first half of 2006, compared to a four percent decrease in 2005.

Conversely, in Japan Trilogy jewelry sales crossed the 30 billion yen mark, suppressing engagement ring sales in the country.

Second half of the year will see a major media campaign in the U.S. supporting the Journey program and the Forevermark program that was launched in Hong Kong, which saw sales of over $75 million in the past two years, will be expanded to Japan, India, and China in the coming months.

Forevermark will be launched in the Persian Gulf region during 2007.

World Diamond Council President Eli Izhakoff detailed efforts on the consumer confidence front, encouraging the industry to use the new industry web site DiamondFacts.org. “If the emotional value of diamond jewelry is compromised, it will harm us all,” he told the audience.

Closing the seminar, Shine returned to the stage, describing the benefits African countries drive from diamond mining. “We are helping governments,” she said, adding that children attend school for free in Botswana thanks to diamonds, and many are receiving health care, including in the battle against HIV.