IDL to expand its services in European and GCC markets

The International Diamond Laboratories (IDL), has plans to expand its reach, to the GCC and European markets. The plans outline an office to be opened in Italy by mid-December 2008. This would be IDL’s fifth branch office, scheduled to open in Valenza, Italy’s manufacturing heart of high-end jewellery and home to brands like Bulgari, Roberto Coin, and Pasquale Bruni. Italy clocked around 5 billion Euros for 2007 in jewellery exports, and is a key market for IDL. IDL currently has offices in Dubai, Mumbai, Antwerp and Istanbul.

IDL will also launch its direct operations in Saudi Arabia by end-2008, opening a branch office in ‘Jeddah International Centre’, becoming the first international laboratory to open a diamond and diamond jewellery grading lab in Saudi Arabia. This is following IDL’s intent to participate in the first Middle East and China Diamond & Jewellery Summit organised by Dubai Multi Commodities Centre, supported by IDL and Dubai Diamond Exchange. Until now IDL has served the market from Dubai with its certification and education services. Peter Meeus, CEO of IDL said: “The Kingdom is leading an upward trend in diamond and diamond jewellery sales with Saudi-based consumers accounting for around 80% of the Gulf region's consumption of diamonds. While the demand for quality diamond jewellery products in Saudi Arabia continues to grow, consumers are more concerned about the quality and price they pay for diamonds and diamond jewellery.”

The IDL certificate delivers knowledge on the 4Cs- clarity, colour, cut and carat- of the polished diamond or diamond jewellery being purchased. The lab also offers laser inscription services linking the diamond to the certificate providing added confidence.

Peter Meeus added on the expansion plans saying: “Our new market entries indicate that the diamond industry is maturing and jewellery manufacturers, retailers and consumers are becoming more aware of the importance of an independent third party warranty for diamonds and diamond jewellery. Our specialised services will help to build consumer confidence in the industry.”