The Israel Diamond Exchange (IDE) and the Diamond Dealers Club (DDC) of New York will hold the third edition of the Israel Diamond Week in New York, November 10 to 13, 2014, on the trading floor of the DDC at 580 Fifth Avenue in midtown Manhattan. The annual event is a joint initiative of the DCC and IDE and aims to boost the trade between the two bourses’ members, to renew business between local suppliers and their clients and to lower the threshold for diamond buying jewelry manufacturers and jewelry retailers who wish to gain access to the Club.
“The New York diamond business community and the Israel diamond industry are interdependent,” said IDE’s president, Shmuel Schnitzer. “Israel is a key supplier of high-quality goods to the U.S. market and New York, and in particular the DDC, is the gateway for diamonds supplies coming from Israel. For many of our members, the DDC, located in the heart of Manhattan’s gems and jewelry district, is like a second home.”
DDC’s president, Reuven Kaufman, concurred. “Undoubtedly, the synergy between Israel’s and New York’s diamond trade is truly unique. However, it never stops to amaze me that in spite of the close relationship between our centers, when we hold these events, lots of people meet one another for the first time!” he said. Kaufman said that therefore the format of the diamond weeks in New York and in Israel had proven to be very successful. “I dare say that the enthusiasm of both DDC and IDE members about these events has gone beyond anyone’s expectations.”
Approximately 100 Israeli diamond firms will be able to sign up and participate in the event. “We expect that we’ll be done quite quickly once the registration starts,” Moti Fluk, head of the event’s organizing committee said. “Space is limited.” About 50 Israeli companies participated in the first Israel Diamond Week in New York in 2012, while in November 2013 more than 100 took part in the diamond sales festival at the DDC. Online buyer registration will begin in mid-September, immediately after the Hong Kong Jewellery & Gem Fair.
Kaufman said, “The time slot chosen for this event will give jewelry manufacturers, retailers and designers an excellent opportunity to replenish their stock, as they all are giving their business another push towards the Christmas holiday season. Recent reports show that overall U.S. retail sales have increased with about 5 percent. We hope this bodes well toward the holiday sales season,” he concluded.