Waldman Diamond Company

Waldman Diamond Company exports $62 million in 2000, holds 10th place on Israel's 'Approved Diamond Exporters List'
January 2001

RAMAT GAN, ISRAEL - In terms of sales, 2000 was an absolute banner year for the world diamond trade. For the staff of Waldman Diamond Company (WDC), the export result for 2000, $62 million, was the result of a full year of hard and consistent teamwork. "No doubt, for the Israeli division of the WDC Group, it was an absolutely fantastic year," said Aharon Tamir, senior marketing manager at the WDC Israel office. "In 1999, we exported more than $43 million, almost double compared to the exports of $23 million of 1998. To perform once again as well as we did last year, is very rewarding."

In 2000, WDC moved up from 14th place to the tenth position on the "Approved Exporters List," which is compiled by the Israeli Ministry of Industry and Trade and provides a de-facto ranking of the hundreds of diamond companies operating in the key diamond center.

Commenting on his company's performance, Alexander Waldman, WDC's president said, "the WDC Group teams in Israel, New York and Tokyo, as well in affiliate offices of our companies worldwide have all worked very hard during the past year. I have good reason to congratulate our staff, as well as our clients, again, for a job very well done."

The Israel diamond industry as a whole also registered record figures in 2000 - with net polished exports reaching $5.32 billion, an increase of 19.5 percent compared to 1999, when $4.45 billion were exported.

Waldman, who is an independent diamond manufacturer and exporter, noted that, while the export figures for polished diamonds were extremely positive, the sales of diamonds and diamond jewelry had dropped significantly in the last weeks before the Christmas holiday. Jewelry sales in the world's prime diamond market, the United States, had decreased by 3.2 percent according to figures provided by the International Council of Shopping Centers (ICSC).

In the coming year, Waldman stated, diamond sales most probably will not continue to be as buoyant as they were in 2000. "Let's not loose the broader perspective of the market,' Waldman suggested. "We should not forget the turbulent mood swings of the market in the past several years, which was highlighted by the Asia economic crisis, and more recently, the issue of conflict diamonds," he noted.

"In 2000, polished diamond exports were almost 20 percent up on 1999, and that radiant result can not be taken away from the industry. But while in 1999, the increase over 1998 was also high, 22 percent, it was less than 10 percent better than the 1997 export result, and just a little more than 10 percent better than the export result of 1996. So let's hope we will not suffer any big swings from the diamond pendulum in 2001 into the wrong direction," he stated.

"Again, our industry's dependence on the U.S. market has grown. Close to 70 percent of our exports still go there. And, while for the WDC Group, the U.S. market will remain our most important market, we will continue to invest our efforts in other markets as well. Our Tokyo office is an example of that effort." Waldman said.

WDC also continues to focus on Europe. "The potential of a pan-European market is huge, and particularly when you include the still-unrealized promise of the Central and Eastern European hinterland. With some 220 million consumers entering a period of economic growth, prosperity is not far away. That means there is still much room for growth in the diamond business," Waldman said.