ICA's New CEO Faces Insdustry Challenges

The International Colored Gemstone Association (ICA) has appointed Brandee Dallow as its new Chief Executive Officer, effective July 6, 2026. The association represents nearly 700 industry leaders from 47 countries.

Erez Bezalel, owner of Euro Precious Stones BV in Antwerp, is a veteran gemstone trader with more than 40 years of experience in gemstone mining, polishing, and trading.

"Despite international sanctions," Bezalel said, "unheated Burmese (Myanmar) rubies remain in high demand. It will be interesting to see how ICA's new CEO, with her extensive background in ethical trade and sustainability, addresses this challenge."

Asked whether a solution similar to the Kimberley Process could be applied to colored gemstones, Bezalel was skeptical.

"I don't believe a system similar to the Kimberley Process (KP) can be implemented in the international gemstone trade," he said. "The diamond industry is larger than the colored gemstone sector, and even the Kimberley Process governs only a single gemstone - diamonds. Extending a comparable system to more than hundred different gemstone varieties would be far too complex and costly."

Commenting on recent market trends, Bezalel shared his observations from the latest trade shows in Hong Kong and Bangkok.

"I saw several Chinese traders and jewelers offering Sri Lankan gemstones at remarkably low prices," he said. "I was surprised both by the quantities available and by the price differences. Some goods were offered at discounts of up to 40%. We live in a free-market economy, and those traders have every right to sell at lower prices. However, as an organization dedicated to serving the interests of the trade, ICA could play a constructive role by advising members on how to liquidate excess inventory in a more orderly manner, helping to avoid unnecessary pressure on market price stability."