IDI’s Asia-centered strategy
by Jo Black
The Israeli diamond industry will have a major presence at the Hong Kong International Jewelry Show, to be held on March 4 - 8 2008. This year over 50 leading Israeli diamond manufacturers and exporters will be exhibiting, with most of them in the Israel Diamond Pavilion, sponsored by the Israel Diamond Institute (IDI).
The Israel Diamond Pavilion is located in Hall 5, Aisles D,E,F,G and Annex. IDI’s information booth is located at 5F21 at the entrance to the pavilion. It will provide background on the Israeli industry and help buyers find their way through the pavilion.
Hong Kong is the second largest market for Israel’s polished diamond exports, representing 19% of total sales. In 2007 net exports of polished diamonds to Hong Kong stood at $1.310 billion.
IDI Chairman Moti Ganz said that Hong Kong as the gateway to the Far East, is a major focus for the Israeli Diamond Industry. IDI Managing Director Eli Avidar stressed that the Far East represents the major growth market for Israeli diamond exports in the future. We are looking to this part of the world to become the major market for Israel’s polished diamond sales. In the coming years we believe that China will become an important consumer of polished diamonds, and we are focusing our marketing strategy on developing this market, he said.
IDI’s China-focused strategy has included several components. A representative office in Hong Kong, IDI Asia Pacific Ltd., was opened during 2007 to enhance trade contacts with the region. According to Avidar, IDI believes in Hong Kong and its advantages for serving the region. In addition, last year IDI launched a Chinese-language portal site, the first of any diamond center, which has become an important vehicle for facilitating trade contacts between these countries.
Trade shows in the region are an important part of IDI’s marketing strategy. In addition to participating in two trade fairs in Hong Kong and one in Macau this year, IDI will also be participating for the second time at the China International Gold, Jewellery and Gem Fair taking place from February 28 – March 2, 2008 in Shenzhen, China
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