With reverberations in the diamond industry still continuing, following the decision by De Beers' Diamond Trading Company (DTC) to revise its list of clients (sightholders) within the framework of its Strategic Review and its subsequent Supplier of Choice policy, it seems opportune that a definitive account of the Supplier of Choice saga (with its multiple brand environment strategy) be released onto the market.

That is exactly what has been done by Fran Goldstein, the Israel-based publisher of the internationally acclaimed Keyguide Directories, which are those indispensable pocket-sized reference guides to the diamond centers in Israel and Belgium. Goldstein's latest publication is entitled “Sightholder Showcase,” and it carries the subtitle “The branding of the diamond industry.”
In her own, almost intuitive style, Goldstein offers “a collection of observations, personal stories, articles and illustrative case studies,” documenting the path that diamond companies have taken since they were instructed three years ago by the DTC to introduce new marketing methods so as to comply with the new De Beers strategy.

Goldstein began writing “Sightholder Showcase” in the days following the DTC's first announcement, in July 2000, that it would no longer be acting as the custodian of the diamond industry, but would rather strive to be its supplier of choice. To be eligible for a direct rough diamond supply, the DTC said, a client would have to demonstrate that it is both effective in adding value to its diamond product and helping drive demand downstream in both the diamond and diamond-set jewelry markets.

Goldstein's first book initiative shows how and why the DTC took a group of seasoned diamantaires, all of whom were amateurs and neophytes in this part of the new diamond world, and turned them into “brand mavens”. Published just a month before De Beers actually informed its clients who would be receiving a rough diamond supply during 2004 and 2005, it almost reads like a detective story.

It consists of four parts'an introductory section, a section providing background information about Supplier of Choice, a section offering case studies of a wide variety of diamond branding initiatives, and a section outlining the various branding programs that are being implemented, downstream, in the jewelry consumer markets worldwide.

Goldstein compels the reader to keep the pages turning, as she reveals her methodology and exposes, layer by layer, the inner workings of branding, downstream initiatives, diamond jewelry marketing, advertising, public relations, and a host of other disciplines that have been mobilized in an industry that Supplier of Choice has induced to become vertically integrated. A few of the topics that are covered include lifestyle advertising, co-op advertising, brand synergy, added value, brand zones, consumer market segmentation, the domestic market in India including the emergence of DTC supported brands, strategic retail partnerships, the introduction of the fashion world into the diamond business, the industry's acceptance of marketing and advertising professionals and brand consultants, DTC flagship programs, and the role of the Diamond Promotion Service and the DTC's Key Account Managers.

And, now, Goldstein is already at work on a second “companion” book that will deal, in greater detail, with how the marketing and branding initiatives in the diamond business worldwide are developing and panning out in practice.

“Sightholder Showcase,” which is published by Keyguide Ltd. is available at stores in the Diamond Districts in Antwerp and Ramat Gan and online at www.idexonline.com.


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Source: TDV press release
November 03