An Analysis Of The International Diamond Market (Mellen Studies in Business)

This book explores one particular threat faced by the diamond industry and De Beers during the early 1990s: the release or "leakage" of rough (uncut and unpolished) diamonds on the open market by the Russian Federation in violation of their sales agreement with De Beers. Of particular interest is the discussion of how a devastating currency crisis and government budget deficit drove the Russians to "leak" diamonds, along with the disclosure of the secretive, duplicitous manner in which rough stones were leaked. A secondary issue addressed concerns the promotional efforts undertaken by De Beers and their marketing and distribution subsidiary, the Central Selling Organization (CSO), recently renamed the Diamond Trading Company (DTC), to increase worldwide demand by influencing consumer perceptions and buying behavior. Recommendations regarding future marketing strategies to be considered by De Beers, specifically corporate and product branding initiatives, conclude the discussion. This book will be of particular interest to those in the business and economics fields.