Why the change of attitude? You have always been one to slag off De Beers, and now your posting supports their role in the diamond industry. Do you now accept the inevitable?
It is evident that De Beers plays a pivoting and important role in this industry, and the contents of your posting supports this fact, that De Beers marketing genius is responsible for the industry keeping itself afloat.
" In Europe demand has been improving slowly, with sales of large stones rising quickly in Germany for the first time in several years. Carat-plus sales were up 78% last year and half-carat to one carat sales were up 33% says Steinetz. She credits De Beers ' Modern Woman ' solitaire advertising campaign for the turnaround."
The Eastern markets are depressed, so the obvious solution is for De Beers to concentrate their marketing on Europe and North America, where the currencies are still relatively strong in comparison with the slump in the East.
I agree with De Beers director Gary Ralfe views that ' small diamonds outside the CSO umbrella will no longer " get a free ride " from De Beers market protection and advertising. Why should they, if their only contribution is to depress the markets, and put the more marginal diamond mines out of business. Without some control, more ' juniors ' will follow this road.
Tell me Vaughn, what your reaction will be if SUF enters into a JV with De Beers. Will you concoct some conspiracy theory, a possible example being, that SUF and De Beers have all this time conspired to deflate SUF,s shares for a cheaper JV. Why not add a UFO slant?
As for your ' pal ' George, the one who holds De Beers stock and in the same breath accuses them of theft. If he believes that then surely any profits realized from his stock, will in effect be tainted money, and only an idiot will enrich himself with the proceeds of stolen goods. What a hypocrite. |
