Editors

Getting it done

EditorsOct 23, 2012

Getting it done

As has already been widely reported, the newly introduced Diamond Source Warranty Protocol (which I assume eventually we’ll call the DSWP) wasn’t exactly met with widespread applause at the recent World Diamond Congress held in Mumbai.

Some of the criticisms lobbed at the protocol--the difficulty of segregating production, the extra costs, its potential impact on artisanal miners and the three-year lawsuit clause--are not invalid points. I am inclined, though, to see how the protocol plays out over time, including how many jewelers actually adopt it, before passing judgment on these issues.

The protocol, at the end of the day, is voluntary. If you are the type of jeweler that does not want to deal in goods from a specific entity or country, let’s just say for example Zimbabwe (strictly a completely random example, of course), then you can use the protocol to receive legal assurance that your diamonds did not originate there and you will work to find suppliers who are willing to play along.

If you don’t care, feel that your business can’t bear the extra costs or don’t have time for the added hassle, then don’t use the protocol or don’t deal with retailers that want to use it. It’s as simple as that.

Outside of the critiques of the protocol listed above, there was another that popped up in post-event coverage that I think can be answered more easily right now. And that is: why weren’t industry parties outside of JA, the DMIA and the JVC consulted in the development of the protocol?

The answer, I believe, is pretty obvious: the industry collectively struggles to come together and make decisions in a timely manner.

Let’s look at one example from the recent congress.

For months leading up to the event, it was obvious that the industry felt that it had to do something about the dearth of generic marketing for diamonds. I observed as much in a past blog, and a number of players at the congress actually labeled the lack of promotion, and resulting drop in consumer demand, as the industry’s single biggest problem right now.

To this end, at the congress the World Federation of Diamond Bourses announced a new “partnership initiative” called the World Diamond Mark.

According to a release on the mark (though I could wallpaper my apartment with the volume of congress press releases I received, I somehow missed this one), it will be based in Hong Kong and is “the new marketing arm of the entire diamond and diamond jewelry industry.” More details on the mark apparently are forthcoming, as is its website,
which officially is slated to launch in January.

The creation of the mark comes a few years after the failure of a marketing body called the International Diamond Board (IDB), the industry’s 2009 attempt at creating a worldwide generic marketing campaign for diamonds.

The IDB died a slow death over many months, and here we are three years later, starting at square one again with this new World Diamond Mark.

Given the industry’s track record on coming to agreements, it’s no wonder why JA, the DMIA and the JVC didn’t want to bring the protocol to the broader global table. It would have been bogged down in endless political wrangling for years, and even may have eventually just died on the vine. And perhaps these organizations feel that they didn’t have that kind of time to waste, especially considering the possibility that diamonds could be added to the portion of the U.S.’s Dodd-Frank Act that regulates sourcing of "conflict" minerals.

As the saying goes, sometimes it’s better to beg for forgiveness than ask permission.
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Future Fortune sapphire ring
TechnologyMar 28, 2024
Pinterest’s 2024 Wedding Report Is Out

The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.

David Ettinger
IndependentsMar 28, 2024
David Ettinger of Bechdel Jewelers Dies at 69

He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.

Jewelers of America logo
IndependentsMar 28, 2024
JA to Host Series of Learning Workshops

The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.

Jewelers of America Fly In Washington, D.C.
Brought to you by
How Jewelers of America Represents Your Business

For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.

Jaeger-LeCoultre Madison Avenue NYC store
WatchesMar 28, 2024
Peek Inside Jaeger-LeCoultre’s Revamped NYC Flagship

The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.

Weekly QuizMar 21, 2024
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Asian Star’s diamond manufacturing facility in India
SourcingMar 27, 2024
Compliance, Caution, and Concern: The Current Outlook of Indian Diamantaires

There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.

Kira Diam solar plant
Lab-GrownMar 27, 2024
Indian Lab-Grown Diamond Manufacturers Keep Growing

A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.

BTYB-HoBrothers-updated.png
Brought to you by
The Scalable, Professional, and Effortless Solution for High-Demand Custom Jewelry Retailers

Ho Brothers offers scalable solutions for the future of custom jewelry.

Bharat Ratnam, a Mega Common Facilitation Centre (CFC)
SourcingMar 27, 2024
Reinvigorating SEEPZ, the Epicenter of India’s Studded Jewelry Exports

The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.

SRK Empire and SRK House
Policies & IssuesMar 27, 2024
SRK Exports’ Journey Toward Net Zero Impact

By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.

Georgia May Jagger Tommy Hilfiger ad campaign
FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%

The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.

Hand holding shopping bags
SurveysMar 27, 2024
Consumer Confidence Held Steady in March

Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.

Bernadette Mack
Policies & IssuesMar 27, 2024
Mercury Free Mining Hires Bernadette Mack

The former WJA executive director is MFM’s new managing director.

April Is Diamonds Do Good Month
Policies & IssuesMar 27, 2024
Diamonds Do Good Announces Its April Initiative

DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.

Tiffany & Co. With Love, Since 1837
MajorsMar 26, 2024
Tiffany & Co. Debuts ‘With Love, Since 1837’ Campaign

Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.

National Jeweler columnists Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 26, 2024
Creative Connecting: AI Tools and Tips for Social Media

Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.

Nordstrom Men’s Store New York City
MajorsMar 26, 2024
Nordstrom May Go Private, Says Report

The retailer previously turned down an $8.4 billion offer in 2018.

Interior of Miami Lakes Jewelers
IndependentsMar 26, 2024
Miami Lakes Jewelers to Close After 37 Years

The Florida store’s owner Miguel Gonzalez is retiring.

 International Gemological Institute
GradingMar 26, 2024
IGI Announces Tech for ID’ing Lab-Grown Colored Diamonds

The lab stresses the importance of accurate identification, as the difference in price is “substantial.”

Kendra Scott lab-grown diamond jewelry
CollectionsMar 25, 2024
Kendra Scott Debuts Lab-Grown Diamond Fashion Jewelry

The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.

Instappraise logo NAJA logo
Events & AwardsMar 25, 2024
NAJA, Instappraise Offering Scholarships for Aspiring Jewelry Appraisers

One is reserved for a NAJA member, the other for a non-member.

Carie Lehrke and Megan Mattice
MajorsMar 25, 2024
Borsheims Announces New VP of HR, Assistant Manager

Longtime employees Carie Lehrke and Megan Mattice have received promotions.

My Next Question graphic vintage jewelry webinar
Recorded WebinarsMar 22, 2024
Watch: How to Buy and Sell Vintage Jewelry

Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.

Chris Clipper and Robert Lepere
MajorsMar 22, 2024
David Yurman Announces New CFO, Chief People Officer

Chris Clipper and Robert Lepere join the company with 50 years of combined experience.

Nakard pyrite earrings
CollectionsMar 22, 2024
Piece of the Week: Nakard’s Pyrite Earrings

The trendy, metallic earrings wink at classic spring colors.

Stock image of police cars with their lights on
CrimeMar 21, 2024
Sparks Fly as Burglars Lose Safe on California Freeway

JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.

Grizzly Mining rough emeralds
SourcingMar 21, 2024
Grizzly Sells 4,145-Carat Emerald for Over $1M

The miner’s March auction generated $19 million.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy