Downturn 'presents Diamond Jewellery Change Opportunities'

Published on 01/06/09

The economic downturn presents an opportunity for those in the diamond jewellery business to put new strategies in place, an expert has claimed.

Avi Paz, president of the World Federation of Diamond Bourses, commented on the body's website that the credit crunch means changes for the better can be made, manufacturers and retailers of gold diamond rings and diamond drop earrings may be interested to hear.

Mr Paz stated prices and sales of these precious gemstones are recovering and "appear to be stablising".

He added that industry members have the chance to improve parts of the sales and payment processes.

The expert said: "Times of upheaval, while clearly complicated, also present opportunities for positive change."

In other industry news, earlier this month the Leading Jewelers of the World announced a new member scheme.

The affiliate initiative has been implemented due to demand from those within the sector, Michael Barlerin, executive director of the organisation, claimed.