The Israel Diamond Exchange (IDE) and the Diamond Dealers Club of New York (DDC) will hold the third edition of the Israel Diamond Week in New York from November 10 to 13 on the trading floor of the Diamond Dealers Club of New York at 580 Fifth Avenue in Manhattan.
The annual event is a joint initiative of the DCC and IDE and aims to boost 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," IDE President Shmuel Schnitzer said. "Israel is a key supplier of higher quality goods to the American 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," Schnitzer added
DDC 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.
"The time slot chosen for this event will give jewelry manufacturers, retailers and designers an excellent opportunity to replenish their stocks, as they all are giving their business another push towards the Xmas holiday season," DDC President Reuven Kaufman said. "Recent reports show that overall US retail sales have increased with about five percent. We hope this bodes well toward the holiday sales season," he concluded.
