The Natural Diamond Council (NDC) has launched a collaboration with eight major manufacturers and a brokerage firm as the industry marketing body broadens its funding sources following the exit of Alrosa.
The organization has formed a “strategic alliance” with Shree Ramkrishna Exports (SRK), Hari Krishna Exports (HK), Rosy Blue, Venus Jewel, Diarough, Dianco, Jewelex, and Shivam Jewels, as well as with consultancy Bonas Group, it said Tuesday.
The collaboration “represents an unparalleled commitment to industry growth through increased investment in marketing and promotion,” the NDC explained. Aligning the eight diamantaires’ shared objectives with the NDC’s mission will “bring together a more holistic approach to new opportunities in the market,” it added.
The NDC will work closely with each manufacturer to create content about their heritage, expertise, and ethical practices, the organization said. It will also cooperate with its major retail partners to help communicate the companies’ values to their clients.
The NDC has been open about its need for money after Alrosa suspended its membership in light of Russia’s invasion of Ukraine, which led to US sanctions on the country’s diamonds.
The trade group, which carries out category marketing for the industry and traditionally received its funding from large miners, has since partnered with Antwerpsche Diamantkring, Belgium’s rough-diamond exchange, and with the World Federation of Diamond Bourses (WFDB).
“Together with our community of retail partners, we’re looking forward to raising consumer awareness of the positive impact of the natural-diamond industry throughout the value chain,” said David Kellie, CEO of the NDC.
Image: Rough diamonds. (Shutterstock)
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