Raj Mehta is the Director of Rosy Blue, one of the world’s largest diamond manufacturers. Even though the brand he leads is one of the biggest and most trusted names in the business, he is always looking for ways to develop the process or creating and selling diamonds for the better.
As he prepares to be part of the upcoming edition of CARAT+ in Antwerp Belgium, we wanted to learn more about the changes that are currently occurring in the diamond industry and how they are being approached.
Discover our interview below!
Rosy Blue is today one of the most trusted brands in the diamond industry worldwide. What are the characteristics of Rosy Blue that draw people to it?
Raj Mehta: With a long and distinguished history of excellence in the diamond industry, Rosy Blue is one of the world’s foremost diamantaires as a De Beers Sightholder, Alrosa Long Term Contract Holder and Dominion Diamond Corporation Preferred Purchaser.
Thanks to a global marketing arrangement, the Rosy Blue Alliance has a presence in 12 countries. Over time, we have become one of the largest and most trusted names in the global diamond industry.
Manufacturing is the heart of our business and reputation. We have core production centers, working to an advanced series of control systems that drive quality and guarantee the integrity of the pipeline.
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What will you bring to this year’s edition of CARAT+ in Antwerp?
RM: We will be showcasing a whole range of diamond shapes and sizes. Our specialist team will be available to show smaller sizes (melees), pointers (0.20 to 0.99), 4/4 up (1cts to 2.99cts) and larger individual stones ranging from 3cts to 20cts.
In a recent interview, you addressed the possibility of integrating blockchain technology in the diamonds business. How do you see diamond vendors exploring the opportunities of blockchain technology?
RM: We see two main challenges. One is related to contamination from undisclosed synthetic diamonds and the consequent rise in demand for verifiable provenance.
​Technological advances and service enhancements from De Beers/IIDGR, GIA, HRD and IGI are helping to improve the industry’s ability to manage the contamination risks.
However, it remains up to the individual diamantaires to exercise vigilance by using the available technology and services, even though the quality assurance process remains a costly exercise.
The consequent interest in product provenance seems to have led to discussions about potential opportunities using blockchain technology. We are taking a cautious view on the matter. We would like to understand how we can be assured that the data submitted to a blockchain platform will actually correspond to the physical diamond and that the platform will not be subject to abuse.
A ledger is not a substitute for a trustworthy supplier but can add value by offering provenance information to our clients if the integrity of the information is assured.
What would you say are the main trends that define the diamond industry today?
RM: From the angle of sales, clients are becoming more and more careful about how they source and buy polish diamonds.
How do you think the diamond industry will change in the next years and why?
RM: I wish I knew that, but all I can say that a lot of changes are happening as we speak, right from the way the rough is being sold, the manufacturing is taking place, and how polish diamonds are being distributed. I feel the chain will become even smaller. Market forces and the availability of information at the tip of your finger will change all this. The consumers we are and will be doing business with will require different experiences while buying our product which will change the way the upstream operates.
Thank you!
Fraquoh and Franchomme
P.S. We want to hear from you! Do you think integrating blockchain technologies in the process of creating and selling diamonds can help improve the industry? Why? What changes would you like to see happen in the diamonds industry over the next years? Share your feedback, questions or thoughts in the comments below! For more articles on style, fashion tips and cultural insights, you can subscribe to Attire Club via e-mail or follow us on Facebook, Twitter or Instagram!