DFHK and Chinese manufacturers and retailers meet with WDMF

Discuss the implementation of WDM's Authorized Diamond Dealers (ADD) ® concept
DFHK and Chinese manufacturers and retailers meet with WDMF

A meeting took place between a working group consisting of representatives of the Diamond Federation of Hong Kong (DFHK) and of prominent leading Chinese jewellery manufacturing and retail companies and the World Diamond Mark Foundation (WDMF), for an update on the implementations of the WDM's goals, the Authorized Diamond Dealers (ADD) ® concept and programme.

The meeting took place during the Hong Kong Jewellery & Gem Fair earlier this month. The working Group was headed by DFHK president Lawrence Yung Yi Ma.

WDMF Chairman Alex Popov said that such meetings are essential to investigate how the WDM programme needs to be shaped, adapted and formatted to fit the conditions - economically and culturally - of those markets in which the WDM will be introduced. The working group discussed the specific needs and conditions for the WDM and ADD programmes to be implemented successfully in the Chinese jewellery retail and consumer markets.

"The most important outcome of this meeting was that, skipping the usual explanations about the need for generic diamond marketing and advertising programmes, we were able to cut right to the chase. I was very encouraged by the participants' openness to our arguments that Asia, and in particular the Chinese jewellery retail and consumer market, is the ideal 'laboratory' to test run and ultimately roll out the full-fledged programmes of the WDM. Therefore, the discussions were intense and very helpful," Popov said. He added that the WDM is in advanced negotiations with a leading Chinese jewellery retailing group to introduce the ADD programme into its stores nationwide.

The WDM has a global objective of ensuring health and future growth of the diamond and jewellery industry in the luxury market sector, based on three fundamental principles: educating jewellery retailers about diamonds; building consumer confidence with the WDM accreditation programme and creating a generic marketing programme to promote diamonds and diamond jewellery, based on the Authorized Diamond Dealer concept®.

The World Diamond Mark Foundation is a not-for-profit foundation, incorporated in Hong Kong, SAR, China.


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