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Portrait of Growth

Following up on last year’s report on the global diamond industry, Lifting the Veil of Mystery, Antwerp World Diamond Centre (AWDC) and Bain & Company now release a second annual report, focusing more in detail on the dynamics of consumer demand across the globe.

Ari Epstein, CEO AWDC: “With ‘Lifting the Veil of Mystery’, we were able to provide unprecedented insight in the complex dynamics of our industry. The report shed light on the fundamentals of our business and explored potential future scenarios through a demand and supply forecast. The resulting document is widely acknowledged as an invaluable tool in understanding how the global diamond industry works. That is why we decided to continue our collaboration with Bain & Company. This second report, with an in depth analysis of the underlying processes of consumer demand, was the next logical step.”

In ‘The Global Diamond Industry – Portrait of Growth’, Bain & Company investigated the demand fundamentals that will shape the diamond industry’s near- and medium-term future and offers evidence for a positive outlook. Starting with a review of 2011, it discusses how the long-term supply-demand balance affects prices and how macroeconomic developments and changing consumer preferences are influencing the industry. For the first time, the report also maps the similarities and differences in consumer preferences, based on surveys of more than 5,000 consumers around the world. The document also further explores the three largest diamond markets, - the US, China and India -, representing 60% of the global diamond demand.

By combining these findings with extensive market analysis, including the latest developments of key diamond miners and the largest diamond mines worldwide, the report concludes with an update on the outlook for the diamond industry through 2020.

Stéphane Fischler, President AWDC: “Given Antwerp’s leadership role on all levels of the diamond industry, it is fitting that AWDC sponsored this report. Over hundreds of years, Antwerp has created a robust diamond cluster that includes a multitude of specialized players, including producers, sightholders, high-end cutters and polishers, and specialized financial and educational institutions. The dynamics of competition and cooperation ensure that the city remains at the heart of the international diamond trade.”