Canadian Diamond News Update

March 5, 2003

Canadian Diamond News Update

There have been developments with diamond companies promoting Canadian provenance recently, including settlement of a logo dispute and a new global partnership. Sirius Diamonds has settled its polar bear logo dispute with the government of the Northwest Territories and will become part of the GNWT Certification and Monitoring Program, which guarantees diamonds mined, cut and polished in Canada. Diamond industry firms Beny Sofer & Sons, Rosy Blue and Backes & Strauss formed a global partnership called Tri-Star Worldwide LLC. The new company will distribute Canadia brand diamonds throughout the world.

The Sirius Bear
Sirius Diamonds, which has a cutting factory in Yellowknife, Northwest Territories, has ended its multiyear struggle with the provincial government over Sirius' use of a four-legged polar bear logo on its diamonds. The provinical government owns a three-legged polar bear registered trademark and contended Sirius Diamonds' polar bear infringed it.

Sirius was granted a government license to laser its polar bear logo on the girdle of its diamonds. Sirius is the only manufacturer allowed to do so. Its diamonds are mined, cut and polished in the Northwest Territories. Sirius also has exclusive rights to market and promote the phrase "Polar Bear Diamonds™" for the next 10 years. The license may be renewed for additional two-year periods.

The Northwest Territories' government continues to own all official polar bear marks and may license these marks for use on material supporting its certification program. Sirius is the third cutting factory located in the Territories with diamonds certified Canadian by the program.

Tri-Star's Canadia
All of Tri-Star's Canadia brand diamonds will be supplied by Arslanian Cutting Works NWT Ltd., a Rosy Blue affiliate in Yellowknife which is also part of the NWT government certification program. Canadia was launched in May 2002 by Beny Sofer & Sons, New York City. Canadia diamonds will be sold in Europe and the Far East as well as in North America, due to the global reach and financial and marketing strength of Tri-Star.

Tri-Star Worldwide will be based in New York City and headed by Oren Sofer. Fine jewelry retailers offering Canadia diamonds will continue to be supported by a multi-media integrated marketing package including a web site with secured retailer site; point of sale displays; TV, print and radio advertising; multimedia CD-ROMs; local and national public relations; and promotional materials.

"To realize the full potential of the Canadia brand, we have formed a diamond company the likes of which the industry has never before seen," says Dilip Metha, Rosy Blue Worldwide.   Rosy Blue is a family-owned diamond company doing business in 14 countries. Backes & Strauss, founded in Antwerp in 1789, supplies more than 40 markets worldwide.

by Peggy Jo Donahue

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