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An Analysis of the International Diamond Market

Mellen Sudies in Business S. No. 21

By (author) Donna J. Bergenstock
Genres: Mining industry
Format: Hardback
Publisher: The Edwin Mellen Press Ltd, New York, United States
Imprint: Edwin Mellen Press Ltd
Published: 28th Feb 2005
ISBN-10: 0773462864
ISBN-13: 9780773462861
Barcode No: 9780773462861
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.

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"Dr. Bergenstock's book explores the marketing strategies and monopoly power of De Beers' Central Selling Organization (CSO) which controls most of the world's supply of rough and gem quality diamonds along with Russia, its chief competitor and co-partner in De Beers' diamond cartel... This book will appeal to those who want to understand how a cartel is organized and how it does everything feasibly possible to maintain and enhance its hegemony in a partially competitive marketplace which typically is in a constant state of flux, and which is subject to unanticipated opportunities, changes and threats. This book should be required reading for those who are interested in marketing and product promotions (especially producty branding) as well as those who are interested in econometric models and their logical foundations as well as their prescriptive and predictive capacities." - Alton Slane, Ph.D, Muhlenberg College; "Dr. Bergenstock, adapting a standard dominant firm model to the particular situation, examines, both theoratically and empirically, the affect of Siberian leakes on rough diamond prices... Dr. Bergenstock also examines De Beer's newly introduced "supplier of choice" distribution model... Dr. Bergenstock is to be commended for a story well told. This is a fascinating read that can be recommended to a wide audience." - George Heitmann, Professor Emeritus, Pennsylvania State University; "This book is a valuable study of De Beers at a crucial moment in its history, as it copes with the difficulties created by Russian cheating and other problems by adopting a radically new strategy. Whether this new differentiation strategy will be successful remains to be seen, but preliminary market experiments suggest it may work. As the postscript details, the De Beers strategy continues to evolve. Anyone who reads this book is likely to follow with understanding and interest developing events in this fascinating industry." - (from the Commendatory Preface) Professor Mary E. Deily, Lehigh University"