This past month has seen a number of diamond dealers around the world close their doors due to a succession of religious holidays.
Not working on religious holidays has become the norm in the diamond industry, regardless of religion. For example, at the moment, many are observing the Jewish holiday of Sukkot, however, come November, the Hindu festival of lights, Diwali will mean many manufacturers in India, where 90% of the world’s polished diamonds come from, will be closed for up to two weeks.
Add this to a number of other holidays, and those at the bottom of the supply chain (eg: US!) can be left high and dry with no stock or diamonds to sell, especially since our new Crossfire range tend to sell within a week of us getting them.
At the other end of the spectrum, shipping companies like Fedex have only 7 days per year off work.
Ultimately, those in the middle of the diamond supply chain, that is wholesalers and manufacturers, that cater for an international audience will be the ones getting more business. In an industry rife with profitability problems, taking weeks or months off work will hopefully soon be a thing of the past.