Debeers

The specialized world of the diamond industry is one that does not receive much press beyond its own internal participants. The current business news rarely includes this interesting and constantly evolving sector. But recently, the UK broadsheet The Guardian ran a piece on a triumphant world record sales of 35 million dollars for a rough diamond found at the site of Cullinan, South Africa, by Petra Diamonds. CEO Johan Dippenaar, was photographed holding the 507-carat monster with big smile on his face. Yes, you'd be smiling too.

But as we noted in the first profile in this case, the current market is in trouble in these lean, sometimes short of money and there was a decrease in the volume of stones on the market to reflect that. DeBeers has recorded a net loss of more than $ 36 million for 2009, but issued a statement last month suggests that demand for rough diamonds has increased, and start to really move. New and developing markets in China and India for the crisis in western Europe and the United States

DeBeers, Petra and other major companies also realize that the battlefield of business is really the creation and marketing desire at the retail level. Driving demand is a tricky business, and even more for luxury items such as diamonds. The CEO of De Beers, Gareth Penny , was quoted in the press earlier this year saying: "The demand strategy for the future must be driven by enthusiastic consumers at retail." The key word, I think is very happy. Good news, like that following the discovery of the Cullinan Mine is a much needed elixir after twelve months rocky economy.

The industry, however, needs more than just marketing. He also recognized a longer term perspective on how to cope with a limited supply of the precious stone, and the passage to the east, buyers. An emerging player in the business, Paul Ekon , also sees a change in public perception and reputation of the business is crucial, "good PR and the ability to engage consumers in the right way is something that must improvement. From a mechanical standpoint, the industry is still often mired in bureaucratic wrangling and legality, when it should focus on creating a buzz, or the demand for diamonds and fine jewelry. "This must be done at the consumer level.

Ekon people like Penny and recognize the need for a presence of cohesion in countries like China. And do it quickly. This will require a paradigm marketing real change - away from the emphasis on the United States (still the biggest retail market). Even with the world in an economic slump, China accounted for nearly 15% of retail sales last year, and this is only the beginning. It will require creativity, sensitivity and speed to adopt this new economic direction of the East. But for companies who may arrive early, and create the "necessary buzz around this natural treasure, the long-term stability and profitability are much more likely. After all, you just see the smile on the face of the holding of a diamond of a person to realize that this is a company that will always be in demand.