Ehud Laniado passed away on March 2, 2019. It is hard to digest this news from someone who made a lasting impression during his lifetime.
Ehud's writings on the diamond industry over the years are reminiscent of his desire to share his thoughts on the diamond industry, which remain as relevant today as when first published.
Over the last five years, Ehud often discussed the need for the diamond industry to act in unison to address some of its most pressing challenges. As a first step, there is the need to ask the right question, starting with what explains the decline in consumer demand.
Ehud sought to enlist the diamond industry to examine the steps that brought us to this point, from the decline in marketing to the limited attention to evolving consumer needs. These trends, which Ehud explored in depth, led to a decline in consumer demand for diamond jewelry and a rise in interest in alternatives. From other luxury items such as vacations and handbags to different stones to set in jewelry, including precious stones and lab-grown. According to Ehud, our diamond industry partly brought the decline on itself.
On the positive side, he always believed that the diamond industry could change its course and generate renewed consumer interest in diamonds. In the coming weeks, we will examine that idea in light of his publications.
Demand is Shrinking for a Reason
From Tulips to Diamonds - Why Now?
Low Consumer Demand and High Rough Supply