August 23, 2005
DTC to Help Israel With Rough Supply and Marketing
In a meeting in London on July 25, Israel Diamond Exchange President Avi Paz and Diamond Trading Co. managing director Gareth Penny agreed to enhance cooperation in the areas of rough supply and marketing activities. They also agreed to increase the number of official meetings held annually between DTC and the Israeli industry, said IDE in a release.
At the meeting, Penny said that he would consider raising the amount of rough diamonds sold through Diamdel to Israeli companies. He also said he would consider adding Israeli diamond companies to DTC's international marketing plans.
Paz asked that Israel receive a greater share of Diamdel's rough diamond sales, which have been increased this year to about $550 million. Penny agreed to discuss this with Diamdel, in an effort to boost Israel's share of rough.
Paz also asked DTC to include Israeli diamantaires in its international advertising and marketing programs, in which the company is expected to invest $200 million next year. This would enable Israeli companies, sightholders and non-sightholders alike, to benefit from exposure in DTC promotional campaigns, and to participate in international exhibitions, conferences and other marketing events. Penny said he would consider this request favorably.
Within this framework, plans were finalized for the visit of DTC marketing director Stephen Lussier in late September, who will be conducting a seminar to present the company's marketing plans for the Christmas season.