INTERNATIONAL DIAMOND CONFERENCE 2010
The Rapaport International Diamond Conference (IDC) took place in 2010 on Thursday,
October 21st at The Times Center, New York. The one day conference held annually
in New York City is renowned for identifying the important trends in the diamond
industry. The topics of this year’s conference were “Diamond Demand”
and “Human Rights and the Diamond Industry – The Way Forward.”
“Diamond Demand”
The future of the diamond industry is about demand. Who will our customers be? What,
will they buy? And most importantly why will they buy? While globalization will
continue to impact our markets, the greatest challenge will be to understand the
demographics of the next generation of diamond consumers. Whether it is in the U.S.,
China or India – opportunities await those that take the time and make the
effort to truly understand what motivates their customers.
“Human Rights and the Diamond Industry – The Way Forward”
The afternoon session was devoted to finding reasonable and pragmatic solutions
to ethical problems confronting the diamond industry. The challenge facing the trade
is not just recognizing the problems, but solving them. Experts in the field of
business and human rights, law and ethics participated in open discussions.
“Over the next few years diamond demand will be more important than diamond
supply. Those that anticipate and meet the needs of their customers will prosper,
while those that don’t won’t. Understanding diamond demand is the key
to your success.”
“The diamond trade needs to confront the problem of human rights head on.
Instead of complaining about the problem, it’s time for us to focus on solutions
and identify the way forward for ourselves and our industry,” said Martin
Rapaport, Chairman of the Rapaport Group.
Funds received from conference attendees went to the Fair Trade Jewelry
Association, a U.S. based 501(c)(3) charitable organization.
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