DW JAN - FEB 2020

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Show RepoRt Antwerp Diamond Market Antwerp Indicates Winds of Change Antwerp has and will always be one of the most important centers for diamonds in the world. Global volatility has affected the market in Antwerp, however, players here believe that market consolidation is well on its way and good service and exclusivity are key factors for both success and survival finds out Gunjan Jain 68 | january-february <strong>2020</strong> | DiamonD WorlD
Show RepoRt We are mainly manufacturing 90 pointers to 30 cts. Our production is back on track since December 2019. KGK today is one of the major manufacturers for big size stones in the global market and recently we have made a one price policy for all our polish sales. This will make it easier for small and mid size traders to source from KGK and will also help us to increase our presence in the market. The pricing of diamonds has been stable in the past 2-3 months and U.S. and China are doing well. The recent developments in China might give a push back but only time will tell. There is definitely a consolidation in the market and that is good and will be healthy for the future. Companies will be able to make some profits and grow hasmukh Ramani, KGK Diamonds I have been visiting Antwerp every January in the last few years and the fact that it is the only diamond centre in the world, which is a perfect blend of rough and polished diamonds has not changed. Winter thronged the streets of the Diamond District, dotted with hundreds of offices and people walking in and out from one office to the other. The business is bad, no doubt, as is the case globally, but for Antwerp, the fact that the city is well connected to global markets with Indians and Jews working together is and has always been a major plus point. After interacting with many players, one thing that is apparent is that with every passing year, the market is getting majorly consolidated, where the bigger companies are getting bigger and the monopoly is falling in the hands of a few companies. To maintain a steady turnover and to run the operational costs and other expenses is something the smaller companies are finding difficult. Larger players are able to do this because they have the support of their global networks, financial management and big teams. The rough is strong in terms of prices and Antwerp was full of manufacturers from Surat and Navsari actively buying. They were hopping in and out of offices, fishing through parcels. The reason behind the activity is the low supply of roughs in the last quarter. January’s DTC sight goods came in on the day I arrived, late January. The market is going through many changes and the climate is lukewarm for sure, but the demand is driven by multiple factors. Here’s what some of the players had to say: We have been in the business for 25 years now. We were originally a rough trading company but now we do more of polished goods. We sell both online and offline and we are also into jewellery manufacturing. Business is getting tough every year, but there is demand for polish diamonds and to make profits, one needs to be very dynamic. One has to adapt to the changes, otherwise there is no question of existence. My core focus is the European market and the jewellers here. There is potential and the retailers need good service, hence we source precise goods for them. Service is key to success today. They don’t mind paying 1 – 2 per cent extra but they want prompt service and desired goods. I buy diamonds from India and process them based on my clients’ requirements. Sales is not an issue but we need to promote generic diamonds to the future generations to keep our business flourishing Alain Zlayet, Zlayet and Sons Diamonds BVBA DiamonD WorlD | january-february <strong>2020</strong> | 69
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DW JAN - FEB 2020

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