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In this second episode of Diamond Profile, GCAL’s new podcast series, Ronnie Vanderlinden and Jeffrey Fischer shared their views of the current state of the diamond industry, as well as their forecasts for the holiday season ahead. Views included warnings of what the industry could potentially be facing, as well as optimism for a successful holiday season. Both their insights are based on many years of experience as leaders and veterans in our industry.
They discussed supply chain disruptions, primarily impacted by conditions in India, as well as the influence of other diamond market centers. Forecasts of size, quality and price shifts were provided. They pointed to positive signs, including India’s purchase of about $700 million in rough; advertising support from the Natural Diamond Council; and diamonds as the one luxury item that is seeing growth. They also reacted to what seems to be a disconnect between diamond suppliers and retailers, in terms of product availability for the holidays; and how independent retailers and big chains will be impacted quite differently.
They discussed at length the important and controversial relationship between the natural and lab grown diamond industries, pointing out both must, and seemingly are ready to coexist. They shared their views on the growing competition versus the industry’s dominant trading platform, and how new platforms are gaining traction. And finally, both looked ahead with hope and optimism, predicting a reasonably good holiday season.
Ronnie Vanderlinden is currently President of Diamex, Inc., a diamond manufacturer and wholesaler. He is President of the DMIA (Diamond Manufacturers & Importers Association), IDMA (Int’l Diamond Manufacturers Assn), and United States Jewelry Council, an umbrella organization of 16 US associations. Ronnie is former Chairman of the Board of the New York Diamond Dealers Club, Treasurer of the World Diamond Council, President of the 24 Karat Club; and board member of AGS and JVC.
Jeff Fisher is currently President of Fischer Diamonds, Inc., a family-owned diamond manufacturer and wholesaler. He has served as a member of the Board of GIA, chairman of the JVC, president and now honorary president of IDMA, president of the DMIA, and is a founder of the World Diamond Council. He also serves on the advisory board of the Diamond Development Initiative, whose mandate is to improve the living conditions of struggling diamond diggers in Africa and to help create acceptable standards for artisanal diamond mining. He is also a past president of the 24 Karat Club of New York, and currently serves as Chairman of the Board.
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In this first episode, Harold Dupuy and Carl Lehnhardt are sharing invaluable insights and experience. They discussed the need to retrofit the Stuller facility to comply with requirements. They focused on Retail Trends (We had no idea it would return in the manner that it did)… Diamonds (Rounds have been king, but Ovals are ready to take the king's head off)… Lab Grown vs Natural (We saw surprising growth in natural, but more and more people are ok with lab grown)… On the DPA’s (Diamond Producers Assn.) name change (It signaled a shift from Hatfields & McCoys trying to denigrate the other product. Let the rising tide lift all boats. It's a consumer choice, that will put some wind in the sails of lab grown) … India (They got hit 6 weeks later, and are far from peaking)… Gemstones (We saw no major shifts, with precious stones still representing one-third of the market)… and Jewelry (Halos are still dominant, solitaires remain strong, and stackables are a staple).
Harold Dupuy is Vice President of Strategic Analysis for Stuller. A Fellow of the Gemological Association of Great Britain, a Graduate Gemologist (GIA), and a Master Gemologist Appraiser (ASA), at Stuller, he draws on a diverse background to analyze, anticipate, and act on shifting currents in the international jewelry market.
Carl Lehnhardt is Diamond DIrector for Stuller. In his 15 1/2 years at the company, he has traveled over one million miles (all with a single airline), forging relationships as close to the source as he possibly could.
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