Moti Ganz Speaks at UBS/IDEX Online Diamond Breakfast Club

IsDMA President Mr. Moti Ganz addressed guests at the UBS/IDEX Online Diamond Breakfast Club meeting Sunday. UBS senior client advisor Uri Krausz also spoke.

Mr. Ganz described the “new world order” in the rough diamond industry and the situation in which diamond traders in Israel find themselves – facing India’s cheap labor and China’s growing industry of cost-efficient labor and mid-range rough processing.

With this in mind, he advised Israeli diamantaires to specialize in bigger, more expensive goods and to expand their business downstream – perhaps, for example, through partnerships with jewelry manufacturers. The major fashion houses often find it difficult to deal with the diamond industry due to its lower margins, Mr. Ganz noted.

He also spoke of the need for more experienced members of the diamond trading community to tap into the wealth of business information in the younger generation, to bring them into the diamond industry as a way to prepare the business to meet the new reality of the modern era.

Krausz described the core satellite approach of UBS, as it relates to individual investors – namely, making a 4-5 percent above the return on cash, while still preserving capital.

Swiss bank UBS and leading diamond trading platform IDEX Online have teamed up in order to add value to the industry by bringing specially-tailored presentations to leading diamond traders in Israel.