President of World Federation of Diamond Bourses (WFDB) Ernie Blom said that his organization will “work closely” with the Diamond Producers Association (DPA) to boost its generic diamond promotion efforts, according to a report in Diamond World. Blom spoke during the 2017 Presidents Meeting held in Mumbai this week.
“Advertising today is a different world to the one most of us here grew up with”, Blom said, “markets are incredibly fragmented, with people getting their information from a wide range of sources, especially the Millennials. That means researching the market and allocating resources in a way that enables you to reach your target audience in the most efficient way possible. The WFDB-supported World Diamond Mark (WDM) initiative will work with the DPA because we recognize that generic marketing is critical for our business”.
According to the report, “Blom spoke of challenges like financing, mixing of undisclosed synthetic stones and others, and urged colleagues to deal with them by staying positive. He cited ‘bright spots of the trade’ including the tax agreements in Belgium and Israel last year and the Gem and Jewellery Export Promotion Council’s (GJEPC) generic diamond promotion campaigns in India with De Beers, as some to inspire the trade”.
