March 10, 2020
Dear Friends and Clients,
The diamond industry is undergoing a period of unprecedented challenge. All levels of the pipeline are affected. The Coronavirus is destabilizing global economic, social and political foundations. The diamond pipeline is already under pressure due to tightening liquidity, reduced credit, high rough prices, weak polished demand, excess inventory, shifting consumer demand, synthetics and digital sales. We must restore profitability in our trade.
Frankly, the challenges have reached a scale and intensity where we must implement solutions in order to survive. Doing nothing is not an option. As individuals and as an industry we must create and implement opportunities. We must turn...