Press Releases

Supplier Announcements

2 September 2010 – DTC Sightholders gathered in London last week for the annual DTC Business Excellence Seminar (BES), held at The Mandarin Oriental Hotel. The Seminar entitled ‘Operating in the New Normal’ was hosted by DTC CEO, Varda Shine.

Opening remarks were given by Varda Shine who said “the concept of the New Normal reflects not only the new economic realities that are being imposed on our businesses, but also the increasing opportunities that are afforded us by seeking to adapt quickly to the developing landscape.” She went on to say that if companies are to succeed, evolution will be the watchword. It is in this spirit that DTC introduced the latest evolution to its Supplier of Choice distribution policy “so we can respond to the different world in which we now live.”

Varda then introduced Gareth Penny who presented at his last BES. “It is thanks to his foresight and determination to make sure the industry evolved and remained ‘up to diamonds’ that we stand here today presented with so many opportunities for success in the years ahead.”

Gareth then took the audience back to the beginning of Supplier of Choice and talked about how the challenges we all faced then have been addressed over the past ten years but cautioned that there are challenges ahead of us.

There then followed a series of breakout sessions with four guest speakers, each luminaries in their own field:

•    Dr Tore Opsahl, Research Associate at Imperial College Business School discussed the role of social networks to spur business growth.

•    Dr Andrew Scott, Professor and Deputy Dean (Programs) at London Business School whose presentation focused on how economies normally recover from downturns and how this is affected by financial factors and how financial problems in developed nations are transmitted to emerging countries.

•    Dr Gemma Calvert, Professor of Applied Neuroscience at the University of Warwick, discussed how consumer behaviour is represented in the brain looking at how we actually make choices.

•    Dr Graham Baxter, Associate Director at the International Business Leaders Forum, highlighted the importance of corporate social responsibility and its impact on the bottom line and consumer confidence.

Varda then drew the Seminar to a close by summarising what each presentation means to diamond businesses across the pipeline. She highlighted:

•    The global economy is still in a fragile state and may well become more volatile than before; although interest rates are likely to remain low, the world is deleveraging and borrowing too heavily in the current climate to chase market share and could have negative repercussions

•    As the diamond industry seeks new opportunities in the New Normal, emerging markets – both geographical and virtual – are likely to become of increasing importance.

•    Corporate Responsibility (CR) is a necessity and not an optional extra. Although leading in this field may not always be easy, it is the right thing to do and seeking partnerships in CR activities can be an effective model.

•    Neuroscience has shown that emotional, rather than rational, decision making plays the biggest part in consumers’ buying habits; as the diamond is a product so heavily wrapped up in emotion, the industry’s marketing approach should play to these strengths.

The DTC is the rough diamond distribution arm of the De Beers Family of Companies and is the world's largest supplier of rough diamonds. With activities in sorting, valuing and diamond beneficiation, the DTC has representative offices in the UK, and South Africa, as well as joint venture operations in Botswana and Namibia with the governments of those countries.

Formed in 1934, the DTC has been a division of The Diamond Trading Company Limited (incorporated in 1986) from 2003. On 1 August 2008, The Diamond Trading Company Limited changed its name to De Beers UK Limited and the DTC became the rough diamond trading division of De Beers UK Limited. Through its producer and customer value propositions, the DTC is focused on maintaining its position as the world’s most effective distribution channel for rough diamonds.

Association Announcements

On the coattails of a highly successful Prime Jewelry Group buying event at the Ritz Carlton, Naples, FL, the members of Prime unanimously re-elected John Preziose of Designs by Vatché to a second two-year term as President and Elly Adler of Elma•Gil to a second term as Marketing Director.

Returning Board members whose positions were not up for election this year are: Secretary Carole Greenberg, of Alwand Vahan, Treasurer David Ethier of Imperial – Delta Pearls and Alisa Unger of B&N Jewelry.

Unlike most industry buying events, Prime Jewelry Group is owned and managed by the exhibiting firms, all of which are members of the organization. “It’s a strong vote of confidence to be elected to another term by our members,” said Preziose. “Our 2010 event in Naples was extremely successful, with several members having their best event of the year. Most exceeded their expectations, and in this economy, that is a remarkable accomplishment.”

“Last year Prime completely re-directed its marketing focus. This year we augmented our marketing efforts with an impressive show directory that was mailed in advance of the event, and more emphasis on electronic media” added Elly Adler. “Each year we’re doing more to promote and build awareness among retailers, and our members are excited about what we have accomplished. Our retailers are all invited guests, and we do everything possible to ensure they feel appreciated and rewarded for buying at Prime.”

“Prime is definitely positioned for further growth,” added Preziose, “because our events are designed to forge long-term, quality relationships with retailers. The Prime Jewelry Group model provides retailers and Prime members to have the time and opportunity to build a better understanding of what is needed from one another for both manufacturers and retailers to prosper.”

With the tenth anniversary approaching, planning for 2011 is already underway, and everyone involved is working to ensure the best Prime event to date.

The Prime Jewelry Group events are produced and managed by SJTA, producers of the Atlanta Jewelry Show. Prime buying events have taken place for the last nine years and offer retailers a chance to see an extensive array of merchandise in an elegant and secure environment. Retailers interested in attending may contact Prime at 1-800-241-0399.

Trade Show Announcements

Las Vegas – The American Gem Society (AGS) kicks off news of its 2011 Conclave with the announcement of two of the business world’s most sought after keynote speakers: best-selling author Daniel H. Pink, who wrote Drive: the Surprising Truth About What Motivates Us, and Tony Hsieh, the dynamic CEO of online retailer, Zappos.com, as well as the author of Delivering Happiness: A Path to Profit, Passion and Purpose.

“The American Gem Society seeks the most high-caliber business leaders for Conclave, and with the addition of Mr. Pink and Mr. Hsieh, we’ve surpassed that goal,” said Ruth Batson, Executive Director and CEO of the American Gem Society.

Daniel H. Pink, who is highly regarded by the media for his insights into understanding motivation, will kick off the opening keynote session on Wednesday, April 27 by discussing principals and strategies found in his hit book, Drive. Mr. Pink has incorporated 50 years of behavioral science to overturn the conventional wisdom about human motivation and offer a more effective path to high performance. Mr. Pink will discuss the three elements of true motivation—autonomy, mastery, and purpose—and offer smart and surprising techniques for putting these into action.

Tony Hsieh, author of NY Times #1 Bestseller, Delivering Happiness, and whose success at taking Zappos.com to new heights has resulted in him becoming one of the most in-demand speakers across the country, will be the featured keynote session on Friday, April 29. Hsieh will focus on customer service for the entire company—not just one department. He has applied those principals with great success to the bottom line at Zappos.com, where the number one priority is company culture. In his speeches, Tony shows how a very different kind of corporate culture is a powerful model for achieving success — and how by concentrating on the happiness of those around you, you can dramatically increase your own.

“The theme of Conclave is Peer Support and it’s a theme that lies at the heart of what these critically-acclaimed business leaders will discuss,” said Ms. Batson. “Their inspiring message of motivation and successful customer service will benefit both the retailer and the supplier member. What these speakers offer is a way to translate their ideas into action so that our membership can develop the maximum potential within their own organization.”

The American Gem Society Conclave will be held in San Francisco April 27th - 30th at The Westin St. Francis in the heart of San Francisco’s Union Square. More announcements regarding the program for the 2011 Conclave are forthcoming over the next few months.

Daniel H. Pink is the author of four provocative books about the changing world of work. In addition to Drive, he wrote the New York Times bestseller, A Whole New Mind, as well as Free Agent Nation. Pink's articles on business and technology have appeared in the New York Times, Harvard Business Review, Fast Company, and Wired. Mr. Pink also speaks to corporations, associations, universities, and educational conferences about such topics as the shift from the information age—with its premium on logical, linear, computer-like abilities—to what he calls "the Conceptual age,” where "right-brain" qualities like empathy, inventiveness, and meaning predominate.

Tony Hsieh (pronounced 'shay') is one of the most widely respected and successful business innovators in the new economy. As the CEO of Zappos.com, he has achieved phenomenal company growth through revolutionary approaches to marketing, human resources and customer service. Tony discusses this success in his new book, Delivering Happiness: A Path to Profit, Passion and Purpose. The book debuted at No. 1 on The New York Times Hardcover Advice bestseller list.

The American Gem Society, founded in 1934 by Robert M. Shipley, is a not-for-profit trade association dedicated to proven ethics, knowledge, and consumer protection within the jewelry industry. The American Gem Society is an international professional organization awarding credentials for its members, who are held to the highest ethical and professional standards in the industry and must pass annual recertification examinations to maintain their titles. Less than five percent of jewelers in the country have met the exacting requirements necessary for membership.

For more information regarding the American Gem Society, please call 866.805.6500, or visit their Web site at www.AmericanGemSociety.org