World Diamond Mark Foundation Members Hold Talks in India

Popov and his colleagues are meeting with representatives of the Gems & Jewellery Export Promotion Council (GJEPC), headed by Vipul Shah, the Bharat Diamond Bourse (BDB), led by its president Anoop Mehta, and the executive board of the Indian Gem and Jewellery Trade Federation.

Popov explained that the WDMF's global objective is to ensure the health and future growth of the diamond and jewelry industry in the luxury market sector. "It is based on three fundamental principles: the education of the jewelry retail business community about diamonds; confidence building with the consumer public with the WDMF accreditation program and the creation of a generic marketing program to promote diamonds and diamond jewelry, based on the Authorized Diamond Dealer^® concept," he said.

The Authorized Diamond Dealer concept is the cornerstone of the WDMF program. The international diamond business community, represented by the World Federation of Diamond Bourses (WFDB) will accredit jewelry retailers as Authorized Diamond Dealers. "This will lead to greater and wider brand recognition of diamonds as a luxury product and to the increased visibility of diamonds in jewelry shops and outlets. Worldwide marketing campaigns will add to greater consumer confidence and enlarge the slice of diamonds in the luxury spending pie," the WDMF chair explained.

The WDMF is a not-for-profit foundation that was formally established last month in Hong Kong following the approval of the foundation's charter at the presidents meeting of the WFDB that was held in Istanbul last June.

"For all practical purposes, the Foundation's incorporation means that we can now begin operating the World Diamond Mark^® program with the backing of the legal structure of the WDMF," Popov said.