ncdia correct presentation final2-ja newyorkjuly2016
TRANSCRIPT
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Natural Color Diamond Jewelry: An Affordable Solution to Low Margins
Presented By: Natural Color Diamond Industry Association (NCDIA)
Speakers:
Barbara Wheat, Executive Vice President, NCDIAMichael Hakimian, Senior Manager, Almor Designs
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Natural Color Diamond Industry Association (NCDIA)Founded in 2003
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• Not-For-Profit Trade Membership Association• 130 members - worldwide• Wholesalers, Retailers, Affiliates• Goal: “Educate and promote global awareness and
desire for natural color diamonds”• Education, Marketing Materials, Networking… and More
NCDIA Overview
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• Prestige and Consumer Credibility
• Education
• Industry & Local Marketing Support
• Networking & Communication• In-store Events, Trunk Shows
• Special Promotions
• Product Sourcing
• Special Offers From Affiliate Members
Benefits of Joining NCDIA
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Natural Color Diamond Jewelry: An Affordable Solution to Low Margins
Presented By: Natural Color Diamond Industry Association (NCDIA)
Michael Hakimian Senior ManagerNatural Fancy Color Diamond DivisionAlmor Designs
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• The Jewelry Industry Landscape: The Problem of Low Margins
• Opportunities in the Natural Color Diamond Business are Due to High Margins, Customer Excitement, High Growth Potential, and Affordable Selections
• How to Get Involved and Grow Your Sales in the Natural Color Diamond Business
• Color Diamonds Education Basics
What We Will Be Covering
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The Jewelry Industry Landscape: The Problem of Low Margins
Low Margins in White Diamonds: • Pricing Structure in Place to Value White Diamonds
• Due to Its Wide Use, the Market is Very Familiar with White Diamond Pricing
• Diamond Trading Websites Within the Trade, and Websites Outside of It
• Dumping by Diamond Dealers Struggling for Liquidity
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What’s Going on in the Natural Color Diamond Business
High Margins, Customer Excitement, High Growth Potential, Affordable Selections
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Natural Color Diamond Jewelry: A Path to Higher Margins
Why Natural Color Diamonds Give Us Higher Margins?
• No Industry Accepted Pricing Structure For Color Diamonds
• Market is Less Familiar with Color Diamond Pricing and Value
• Color Diamonds are More Rare (Supply)
• Customer Excitement: Demand Continues to Increase (Hollywood Stars, Auctions, Top Jewelry Companies Advertising)
• One of a Kind Feel
• Allure of Luxury
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High Growth Potential of Natural Color Diamonds
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High Growth Potential of Natural Color Diamonds
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Affordable Selections In the Color Diamond Business
• Natural Color Diamond Jewelry is Affordable, so Affordability Should Not be a Barrier to Entry
• NCDIA Research Indicates that the “Sweet Spot” for retailers is $2,500-$50,000 (Retail Prices)
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Prices shown are examples only.
$5,000 Retail
Tiffany’s – 0.02cts Pink/ 0.08ctw; Price: $4,900
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Prices shown are examples only.
$10,000 Retail
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Prices shown are examples only.
$20,000-30,000 Retail
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$50,000 Retail
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Getting Started and Succeeding In Natural Color Diamonds
• Join the NCDIA as a Retail Member (Education, Advertising, Sourcing)
• Educate Yourself and Your Staff
• Promote it Constantly and Promote it in Very Visible Places
• Build a Respectable Inventory (Variety of Colors, Price Points, Sources)
• Do Trunk Shows
• Stress to Employees to Show the New Color Diamond Inventory to All Your Customers
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• There are a Variety of Natural Color Diamonds Produced by Nature and Each Stone is Unique and One-of-a-kind
• Out of every 10,000 Carats of Diamonds, only 1 Carat of it is Fancy Color Diamond
Color Diamond Basics
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The rarity and value of each natural color diamond is based predominantly on the stone’s rarity and richness of color. They
represent about 3% of GIAs intake.
Source - Natural Color Diamond Association
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The color is a combination of Hue, Tone and Saturation. Stronger colors are typically more valuable. GIA grades
these stones from “Fancy Light” to “Vivid”
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Source - Natural Color Diamond Association
There are also colors which contain more than one color in their description which creates an endless palette of
colors.
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Natural Color Diamond Jewelry: An Affordable Solution to Low Margins
Presented By: Natural Color Diamond Industry Association (NCDIA)
Speakers:
Barbara Wheat, Executive Vice President, NCDIAMichael Hakimian, Senior Manager, Almor Designs