Q&A: Rosy Blue considers diamond industry challenges ahead of CARAT+ 2018
As one of the world’s largest diamond manufacturers, Rosy Blue is in an ideal position to comment on shifts in the market. Here, Rosy Blue Director, Raj Mehta, reflects on non-disclosed synthetic diamonds, concerns over blockchain and a renewed commitment to sustainability with David Brough ahead of CARAT+ 2018.
Q: Preparations are well underway for CARAT+ 2018. What range of diamonds will Rosy Blue be exhibiting?
Raj Mehta: We will be showcasing a whole range of diamond shapes and sizes. Our specialist team will be available to show smaller sizes (melees), pointers (0.20 to 0.99), 4/4 up (1cts to 2.99cts) and larger individual stones ranging from 3cts to 20cts.
Q: What are the main challenges facing diamond suppliers currently in the global marketplace?
RM: We see two main challenges. One is related to contamination from undisclosed synthetic diamonds and the consequent rise in demand for verifiable provenance.
Technological advances and service enhancements from De Beers/IIDGR, GIA, HRD and IGI are helping to improve the industry’s ability to manage the contamination risks.
However, it remains up to the individual diamantaires to exercise vigilance by using the available technology and services, even though the quality assurance process remains a costly exercise.
The consequent interest in product provenance seems to have led to discussions about potential opportunities using blockchain technology. We are taking a cautious view on the matter. We would like to understand how we can be assured that the data submitted to a blockchain platform will actually correspond to the physical diamond and that the platform will not be subject to abuse.
A ledger is not a substitute for a trustworthy supplier but can add value by offering provenance information to our clients if the integrity of the information is assured.
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Q: What differentiates Rosy Blue from other diamond manufacturers and suppliers?
RM: With a long and distinguished history of excellence in the diamond industry, Rosy Blue is one of the world’s foremost diamantaires as a De Beers Sightholder, Alrosa Long Term Contract Holder and Dominion Diamond Corporation Preferred Purchaser.
Thanks to a global marketing arrangement, the Rosy Blue Alliance has a presence in 12 countries. Over time, we have become one of the largest and most trusted names in the global diamond industry.
Manufacturing is the heart of our business and reputation. We have core production centres, working to an advanced series of control systems that drive quality and guarantee the integrity of the pipeline.
Q: How important are sustainability and ethical business practices to Rosy Blue?
RM: Sustainability and ethical business practices are fundamental to Rosy Blue’s ethos and strategy. We believe economic growth can, and must, be achieved with social and environmental responsibility.
We are a founding member of the Responsible Jewellery Council and a participant of the UN Global Compact. In 2017 we committed to the UN Sustainable Development Goals. By joining this initiative, Rosy Blue pledges to take sustainability leadership to the next level.
Our Corporate Social Responsibility (CSR) strategy is integrated into every part of the organisation - from procurement, manufacturing and distribution to the way we treat our people and local communities. Not only is this the right thing to do, but we believe it is essential for strong, sustainable growth.
Q: What do you hope to achieve at CARAT+? Are you primarily looking for new clients or are you hoping to expand business with your existing clientele?
RM: We are looking to meet new clients, as well as continuing our business with existing clients.
Q: What value do international trade fairs have for your brand and how significant is it that CARAT+ takes place in Antwerp?
RM: International trade fairs provide opportunities for us to appeal to new clients, build on current relationships, renew old ties and generally feel the pulse and mood of the market. Given that Antwerp is the world’s diamond capital, and the location of our headquarters, we are pleased that CARAT+ is held here.
Discover more about Rosy Blue
CARAT+ is The World’s Premier Diamond Event, covering the full spectrum of the diamond and diamond jewellery trades. The show specialises in four sectors: loose diamonds, branded diamond jewellery, non-branded diamond jewellery and services for the diamond jewellery industry.
Taking place in Hall 1 and Hall 4 of the Antwerp Expo on 6, 7 and 8 May, entry to the show is restricted exclusively to industry professionals, including diamond and jewellery wholesalers and manufacturers from around the world, and jewellery retailers from across Europe and the wider world.