“To pull more certified diamonds through the pipeline into consumer hands will take maverick thinking,” stated MVI Marketing (MVI) president Liz Chatelain while introducing Global Diamond Buying Consortium, a wholesale diamond-buying consortium that will bring together diamond manufacturers and U.S. based loose diamond dealers of AGS, GIA and IGI stones to fund marketing support for their retailer customers.
“As an industry, we all need to be working together with the goal of bringing consumers to the diamond sales counter and the Global Diamond Buying Consortium sounds like a great idea to accomplish this,” stated Beryl Raff, Chairman & CEO of Helzberg Diamonds.
There are not many consortiums in the gem or jewelry industries, but they have proven to be very successful in other industries. “Challenging industry conditions, shrinking margins and consumer apathy suggest the Global Diamond Buying Consortium (GDBC) will be a strategic benefit for participating members,” stated Chatelain, adding, “the industry is consolidating rapidly at all levels of the pipeline which means less diamond promotion to consumers. Forming an alliance like this will help the U.S. based diamond dealers service their retail customers, who will receive direct benefit through participation in the free GDBC consumer marketing, advertising and research support program.”
The four levels of GDBC membership will be: diamond manufacturers in major diamond cutting centers worldwide, U.S. based loose diamond dealers of AGS, GIA and IGI stones who will invite their larger independent fine jewelry retailers and jewelry chains up to 400 doors to receive a co-membership, and sponsor companies and organizations who support the goals of the GDBC.
To increase AGS, GIA and IGI certified diamond sales to Millennials and other consumer segments, the GDBC will support Retailer Members, who purchase from GDBC Dealer Members, with free creative for digital, print, radio, and video advertising, as well as social media content services.
The GBDC will be a membership organization managed by MVI Marketing Ltd., the creators and managers of the Indo Argyle Diamond Council (IADC). MVI is also known for its consumer research division and brand development projects in the luxury space. For more information of MVI Marketing Ltd please visit https://www.mvimarketing.com/.
U.S. based diamond dealer are welcome to apply for GDBC membership by visiting the GDBC website. Dealer membership enrollment to GDBC will close November 23, 2016.
