RAPAPORT… The Israel Diamond Exchange (IDE) has expanded its collaboration
with Alibaba by introducing
sales directly to Chinese consumers.
Israeli diamonds will be available as loose stones on Ali Auction, the Asian e-commerce
giant’s luxury platform, the IDE said Wednesday. The bourse will launch the
venture at the inaugural China International Import Expo in Shanghai in early
November.
The nation’s diamond trade began its partnership with China’s
Alibaba in February, creating an online virtual store incorporating about 150
bourse members. They started by selling to jewelers and dealers, with the
intention of extending the operation to consumers at a later stage.
“We’re really excited to again be partnering with Alibaba, which
is one of the most exciting and creative internet sales platforms in the
world,” said IDE president Yoram Dvash.
Image: Alibaba’s headquarters in Hangzhou, China. (Alibaba)
Israel Trade Signs Alibaba Consumer Deal
The Bottom Line
- Israel Diamond Exchange will offer loose diamonds directly to Chinese consumers on Alibaba’s Ali Auction platform.
- The consumer sales launch will coincide with the China International Import Expo in Shanghai in early November.
- The IDE’s partnership with Alibaba began in February, initially targeting jewelers and dealers before expanding to consumers.
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