IDC 2008
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Letter From
Martin Rapaport
Press Materials

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MONDAY, SEPTEMBER 8, 2008  |  NEW YORK WALDORF-ASTORIA HOTEL  |  8:30 am - 5:00 pm

2010 - The Next Decade
The Future of the Diamond Industry

On September 8, 2008, the Rapaport Conference predicted the global financial crisis.
The highly acclaimed Rapaport International Diamond Conference is now available on DVD

You can now watch the exclusive presentations of Martin Rapaport, along with eight industry leaders
on this special commemorative two-disc Rapaport International Diamond Conference DVD. This one-time offer features valuable insights from the industry’s most important leaders into today’s turbulent economy.

The diamond and jewelry industry is undergoing a period of great change, challenge and uncertainty.
Powerful economic forces are shifting the global balance of trade. Soaring commodity prices, a plummeting
dollar, the housing crises and U.S. recession, a billion new Chinese and Indian consumers.Where will it
all lead? What will happen to the diamond and jewelry industry?What will happen to your business?

Order a Copy of the Conference DVD

Receive this two-disc special featuring the full day of the Rapaport International Diamond Conference events. Includes an industry overview and introduction by Martin Rapaport as well as the full presentations of the featured panelists.

To order your Rapaport Conference DVD, please contact us by email or phone or order online here.

Email: IDC@Diamonds.Net     Telephone: +1-702-893-9400

Order Fee: $100 plus shipping

Featured Speakers

Martin Rapaport, CEO: The Rapaport Group

Martin Rapaport, CEO of the Rapaport Group, says he has rarely seen a diamond market so filled with
change. Wild price swings for rough and polished stones; the rise of consumerism and new wealth
in India, China and the Far East; the growing importance of better quality goods—all, says Rapaport,
present the industry with challenges and, perhaps, unprecedented opportunities.

Rajiv Mehta, CEO: Dimexon International/Eurostar

Rajiv Mehta, CEO of DTC sightholder Dimexon International, sees massive changes on the horizon for
the entire diamond and jewelry industry with major shifts in purchasing patterns, supply and production
taking place on a global scale. Mehta predicts that the increase in prices for diamond rough is likely to
continue, “irrespective of whether existing players in the industry can absorb it or not.” With supply
expected to remain flat until 2016 while demand soars, Mehta says consolidation of the supply chain
is inevitable with the diamond processing segment most at risk.

Rahul Kadakia, Senior Vice President: Christie’s Americas

Rahul Kadakia of Christie’s Americas Jewelry Department says the prices earned at auction for large
colorless diamonds finally reflect their true worth after having been undervalued for years. As consumer
wealth moves from the United States and Europe to India, China, Russia and the Middle East—cultures
comfortable and experienced in purchasing diamonds, gemstones and jewelry for both personal
adornment and security—auction house clients will start to buy jewelry and gemstones as works of art,
further increasing their value as supplies of diamonds of exceptional size and quality continue to grow
more elusive.

Victor van der Kwast, CEO: ABN AMRO, International Diamond and Jewelry Group

As the head of the jewelry division at one of world’s leading lending partners to the diamond trade,
Victor van der Kwast plays a vital role in forecasting trends across this specialized industry. His current
views on the availability of credit are sobering: Banks will loan money cautiously—if at all, says Van der
Kwast, who believes the time is right for companies to examine their business plans and do whatever is
necessary to maintain solvency including trimming production, eliminating unprofitable markets and
most importantly, planning ahead.

Gerald Celente, Founder: The Trends Research Institute

“ We are headed for a financial 9/11,” announced Gerald Celente of The Trends Research Institute,
addressing IDC attendees six days before the Dow Jones Industrial Average dropped a precipitous 500
points and the global financial markets subsequently spun into chaos. Celente forecast depressions
or recessions of varying degrees for economies throughout the world. Calling the subprime problems “the
cracks at the bottom of the foundation,” Celente rang the alarm for an impending commercial lending
crisis, continuing consolidation at the retail level and a U.S. depression whose effects will be much more
severe than the “Great Depression” when America still maintained a healthy manufacturing base and
consumer credit was practically nonexistent. As for industry-specific bright spots, Celente notes the
history of diamonds and precious metals as “safe havens” during times of economic strife and a tangible

Ralph Destino, CEO, Gemological Institute of America and Chairman Emeritus, Cartier, Inc.

Ralph Destino, a jewelry industry veteran believes strongly in the value of branding. Destino, who
helped to polish such renowned Cartier brands as the Love bracelet and the Tank watch, believes true
branding is a far cry from simply slapping a name on a new diamond cut and calling it a brand. His
recommendations to the industry at large include not branding loose goods but applying increasingly
scarce marketing dollars to both a company and its finished products.

Neal Goldberg, CEO, Zale Corporation

When he joined Zale Corporation in December 2007, Goldberg was an experienced executive in the
retail industry, having held top positions with some of America’s leading retail brands—The Gap, Macy’s,
Victoria’s Secret. During his first holiday season in the jewelry industry, Goldberg says he was horrified
to see diamonds and precious gemstones branded with as much enthusiasm as a handful of nuts and
bolts. Goldberg gave the nod to Zale’s new and aggressively emotional advertising campaign, designed
to connect consumers on a gut level with their Zale purchases. He recommends that retailers step away
from the counter as much as possible to learn about the sales and product experience their own stores

Mark Moeller, CEO, R.F. Moeller Jeweler and President, American Gem Society

According to Mark Moeller, retailers interested in building a successful business need to rise above the
price wars by leveraging their strengths with unique products, services and brands. Diamonds with a
story, says Moeller, enjoy an edge that will command better margins and help to cement a store’s bond
with its customers, paving the way for future sales and referrals.

James E. Shigley, PhD, Distinguished Research Fellow, Gemological Institute of America

Lab-grown synthetic and treated diamond detection continue to be of paramount importance to the
Gemological Institute of America, says leading research scientist, Dr. Jim Shigley. As synthetic diamonds
increase in crystal quality, size and production, and melee-sized synthetic diamonds become more of a
reality, Shigley says the gemological laboratory is striving to identify and confront the 100+ synthesis
presses worldwide about the need for transparency. Shigley says the GIA is also concerned with correct
identification and disclosure of diamond treatments including irradiated colored diamonds; HPHT-
treated diamonds (types I and II); the expanded use of multiple treatment processes that can include a
combination of annealing, radiation and low-temperature heating; diamond coatings that change a
diamond’s color or add a small amount of weight to a polished natural diamond; nitrogen removal to
produce colorless diamonds; as well as “diamond” coatings on other gemstones.

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Full conference day features: $100
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