Key takeaways
• The 41st World Diamond Congress commenced on July 13 in Singapore, drawing approximately 300 delegates, observers, and guests.
• A primary focus of the congress is the critical need to reignite consumer desire for natural diamonds by telling authentic stories rather than just defending the product.
• Government dignitaries from Botswana and Angola emphasized transparency, authenticity, and history as vital narratives to connect with modern consumers and invited investment into their diamond industries.
(SINGAPORE) – With almost every seat taken in the Atrium Ballroom of Singapore’s Park Collection Hotel in City Island’s Marina Bay district, the 41st World Diamond Congress kicked off on July 13.
In his welcome speech, Fabio Cascapera, Chair of the Congress Organising Committee and President of the Diamond Exchange of Singapore (DES), noted that since the 24th World Diamond Congress was held in Singapore in 1988, our industry had gone through many tribulations and changes.
“At that time, I was a young man, full of confidence about the future of our wonderful industry,” Cascapera recalled. “While I am not that young anymore today, and certainly not as light on my feet, I am still passionate about diamonds and thankful for what diamonds have done for all of us here.” He urged the industry’s young generation to continue and embrace that passion and take our industry and trade into a shining future. “Don’t let anyone discourage you,” he said.
The outgoing President of the World Federation of Diamond Bourses (WFDB), Yoram Dvash, thanked and complimented Cascapera, DES, and the organizers for pulling off what many thought to be an impossible task in these challenging times and circumstances. “Who thought that such a small bourse could stage such a great and magnificent event!” Dvash marveled.
Ronnie VanderLinden, President of the International Diamond Manufacturing Association (IDMA) and President of the World Diamond Council, while sharing similar sentiments, emphasized Singapore’s special place on the industry’s roadmap. “Known as a global crossroads, Singapore perfectly mirrors the spirit of our industry, a place where brilliance, precision, and global connection come together,” he said.
In his address, IDMA’s President focused on the industry’s chief task: to reignite consumer desire for diamonds. He said:
“Over the past twenty years our industry has worked incredibly hard. We have improved standards. We have strengthened consumer confidence. We have invested in technology. We have done important work to protect the integrity of our product. And we should be proud of that.
“But let’s be honest with ourselves. Somewhere along the way, we forgot how to create desire.
“We became focused on explaining natural diamonds. We became focused on defending natural diamonds. We became focused on proving what natural diamonds are. What we stopped doing was making people want them. That is the challenge. Not because there is anything wrong with the product. There isn’t. Natural diamonds remain one of the most extraordinary products in the world. The challenge is that we stopped telling the story in a way that creates desire.”
Two governmental dignitaries of African diamond-producing nations also addressed the 300 or so delegates, observers, and guests at the opening ceremony. Minister of Minerals and Energy of Botswana, Bogolo Joy Kenewendo, and Angola’s Secretary of State for Mining, Jânio da Rosa Corrêa Victor. Both speakers urged the delegates to come, visit, and invest in their countries’ diamond industry.
In her speech, Kenewendo addressed the need to tell the consumer the diamond story. She said:
“We must not lose sight of the larger question confronting our industry. The question is not whether natural diamonds can survive. They will. The question is whether they will continue to occupy a meaningful place in the hearts and minds of future generations.
The answer to that question depends on us.
“It depends on whether we are willing to tell our story with confidence. It depends on whether we embrace transparency rather than fear it. It depends on whether we recognize that today’s consumers are not simply purchasing products; they are choosing identities, values and narratives. And it depends on whether we can demonstrate that natural diamonds continue to represent something that is authentic, enduring and meaningful in a rapidly changing world.
“I remain optimistic. I remain optimistic because the natural diamond industry possesses something that many industries spend years trying to create and can never fully achieve. We possess authenticity. We possess history. We possess a product whose story spans billions of years and whose impact has transformed lives across generations.
“Most importantly, we possess a story that remains unfinished. The next chapter of the natural diamond story will not be written by geology alone. It will be written by leadership. It will be written by innovation. It will be written by partnership. And it will be written by our collective ability to ensure that future generations understand not only what natural diamonds are, but what they mean!”
The World Diamond Congress website is www.worlddiamondcongress.com.
