Waldman Diamond Company

WDC manager: U.S. diamond market remains buoyant, but suppliers must offer more to retain market share
August 2000

RAMAT GAN, ISRAEL - July was sweltering hot in Israel this year. Indeed according to meteorologists, the month was among the warmest experienced since the 1950s. It also proved hot in terms of polished diamond exports for the country.

More then $772 million worth of goods were exported from Israel, again a record number for polished exports for the month of July. And, while this gross export figures was tempered by returned goods worth $251 million—bringing the net export total down to $520 million—it still constituted a rise of almost 13 percent over the exports of the same month in 1999.

To Simeon Lee Loon, senior marketing manager at Waldman Diamond Company Group Ltd. (WDC), the record July export figures did not come as a surprise.

"Most of Israel's diamantaires took off most of the month August for their traditional summer holidays, but not before they sent out—still in July—many more memo goods than usual," Loon explained. "Next month, we'll see a much higher percentage of goods returned, when companies will ship back a good portion of the polished stocks they put to work in their chief export markets while they were away."

For most Israelis, the chief polished exports market for most Israeli companies remains the United States, and almost all of Israel's diamond exporters are competing for the same, albeit large piece of the pie.

"The fight for market share in the American diamond business is getting fiercer by the day. However, at WDC Group, we've always focused on the US, as we operate a large sales office in New York to service our American retail clientele," Loon stated. "That's also the reason why WDC Group has launched retail oriented projects such as its own 'Hearts of Eternity' diamond brand, the Waldman Diamond Complete jewelry line, and a new Website, called 'mydiamondsource.com,' which is also aimed at the clientele in the North-American retail market."

The branded Ideal-Cut Hearts of Eternity™ diamonds are stones that were cut and polished according to the coveted Ideal Cut triple zero (000) cut grade. To confirm this fact, they are accompanied American Gem Society (AGS) gemological grading report. The branded diamonds are available from 0.25 carats to 3.00 carats.