WFDB Sets November Strategy Meeting With Expansion, Benefits on Agenda

Oct 27, 2015 10:05 AM By Rapaport News

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RAPAPORT... The World Federation of Diamond Bourses (WFDB) will discuss a “new strategy” at its executive committee meeting in Idar-Oberstein, Germany, on November 1-2, the group said in a statement October 26.

The meeting will seek to define WFDB’s purposes more clearly, grow its membership and broaden the benefits of membership. The statement indicated that “everything is on the table” in the strategy review.

The event is hosted by Germany’s Diamant-und Edelsteinbörse, or diamond and gemstones exchange, which is based in Idar-Oberstein in the state of Rhineland-Palatinate. Executive committee bourse presidents from around the world will attend and hear presentations on the WFDB’s plans to strengthen its role as the primary organization for the diamond industry, according to the statement.

Other topics on the agenda include the World Diamond Mark (WDM), which the organization has put its weight behind, and will be the subject of an address by WDM chairman Alex Popov. Popov will present the next stages in the plans to roll out the WDM, a global marketing program.

Members will also discuss forging closer ties with industry and related media, trade bodies in the major diamond centers, producers, and laboratories, WFDB president Ernie Blom said in the statement.

"We have made very serious progress in formulating a new and highly pro-active approach regarding the work of the WFDB, led by our recently appointed executive director Louise Prior," Blom said. "Everything is on the table and will be debated at the meeting.”

Prior, a former De Beers executive, joined the WFDB in August.

It is “critical that we define more clearly our strategy, mission, vision and values. We will also agree on proposals to grow our membership by broadening the benefits of being a WFDB member,” Blom said.

Tags: Ernie Blom, Louise Prior, Rapaport News, WFDB, World Federation of Diamond Bourses