Conflict Diamonds & Hollywood

Conflict diamonds (aka blood diamonds) are about to get a Hollywood makeover. The Blood Diamond, featuring Leo DiCaprio, will be released at the end of 2006 highlighting the problem facing the diamond industry.

Even more questions to ask the retailer! Buying a diamond is complex as it is. Consumers put a lot of trust in the retailer in the diamond buying process. The simple truth is that buying a diamond is an art, it can not be learnt in one day simply by browsing the internet. Yes there are some very good guides around but they need to be learned using real life diamonds as a reference.

The heightened awareness of the illicit diamond trade that will be generated by the forthcoming film will result in some difficult questions being asked of the retailer.

Conflict diamonds are those sold in order to fund armed conflict in countries such as Siera Leone, Angola, Liberia. Accepting that atrocities have been committed on the back of illicit diamond trading, the diamond industry is keen to point out that new controls have been implemented to stop the trade in these diamonds.

In particular, the Kimberley Process which was launched May 2000 has gone a long way to make a diamond trader responsible and thus careful in purchasing diamonds from legitimate sources.

The new hollywood film will create some doubt in the minds of consumers. Retailers should not be scared of questions such as:

• Do you know where your diamonds originate?
• Can I see your company's policy on conflict diamonds?
• How can I be sure that none of your jewellery contains conflict diamonds?

Indeed, a retailer that is able to allay the consumer's fears implied in the above questions, will gain extra confidence from that consumer.

The result: A greater loyalty by the consumer to the retailer.