Gemdax in the news

Diamond Miners Seek Mad Men to Pitch Gems to Younger Generation

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What makes a diamond valuable? History shows a slick marketing team and a killer tagline help.

“A Diamond is Forever,” voted the best slogan of the 20th century by Advertising Age, helped De Beers convince people for almost 70 years that it’s worth parting with two months’ salary for a gem. Yet the end of its monopoly a decade ago blunted its role as the industry’s marketing edge.

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Antwerp Diamond Seminar

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The global diamond industry today is facing challenges that are heavily impacting the way business is done and moreover will be done in the future. Never before has the diamond trade’s financing model, the lifeblood of the industry, been under more pressure. While more and more financial institutions have pulled out of the industry, those that remain have taken a cautious stance on providing the much-needed financial oxygen diamond traders crave in virtually every diamond hub. Against this backdrop, many questions have emerged: is the industry on its way to consolidation? How can we attract new financial players to enter the market? Is the industry confronted with overreach in terms of (financing) regulation? Are we in the midst of a transformation that will radically change the industry’s financial models and, to a larger extent, how business is being done ?

AWDC

Diamond Dealers Face Loan Drought After Losing Bank

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Antwerp’s diamond dealers, who buy and sell 80 percent of the world’s most valuable gemstones, have lost their bank.

The Antwerp Diamond Bank, a source of finance for 80 years to the network of companies that trade, cut and polish in the Belgian port city, will stop lending after a sale by KBC Groep NV to China’s Yinren Group collapsed last week. It’s likely to make loans scarcer in an industry that relies on debt to buy the dull, rough diamonds that are finished into jewelry.

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Union Bank of India Enters Antwerp’s Diamond Industry

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Antwerp, the world’s biggest trading hub for uncut diamonds, gets a new lender to the industry today as Union Bank of India opens a branch in the Belgian city.

The move by the Mumbai-based company means that five Indian lenders will be active in Belgium, according to the country’s central bank. The Antwerp office, in the heart of the city’s diamond district, will dedicate a fifth of its $200 million loan book to diamonds in the first year, Union Bank Chairman Arun Tiwari said in an interview in the Belgian city. The office will also undertake trade finance, remittances and syndicated loans.

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