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VALUE ADDED SERVICES - VAS
DTC ANNOUNCES RANGE OF NEW VALUE ADDED SERVICES TO SUPPORT GROWTH
The Diamond Trading Company, the sales and marketing arm of the De Beers Group, today announced the launch of its Value Added Services (VAS) program to its sightholders.
These Value Added Services are designed to directly support DTC clients as they evolve their businesses to compete in the 21st century diamond and luxury goods industries and, in doing so, offer exciting opportunities for future profitability.
Value Added Services consist of Core Services and Growth Services.
CORE SERVICES
Core Services are a set of supply planning tools, provided to all sightholders, aimed at maximizing the value of each clients core business.
These services are also absolutely integral to the operation of Supplier of Choice, the DTCs sales and marketing strategy, which aims to drive consumer demand for diamond jewellery.
They include continuity of supply for 2.5 years, the Intention to Offer (ITO), consistency of boxes to a defined profile, the client extranet service and a dedicated account management service.
Alongside these supply planning tools (for which a fee is payable by all clients) the DTC also offers exposure to business sustainability measures such as generic demand generation and consumer confidence programmes, (for which clients will not pay).
GROWTH SERVICES
Growth Services are a set of tools for growth and business development that are available to interested Sightholders on request.
These include growth opportunity seminars, market insight workshops, generic advertising material and business excellence seminars.
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Gareth Penny, Managing Director of the Diamond Trading Company, said:
These services will go beyond anything provided by any other diamond supplier and are designed to help our clients to drive a new and exciting growth phase for their businesses.
The Value Added Services are designed to deliver five crucial benefits to help sightholders to grow their business.
Principally, these are:
providing a more stable planning environment in which Sightholders can manage their businesses,
inviting sightholders to harness the value of compelling global marketing campaigns,
presenting ways to benefit from the prestige of being a DTC Sightholder,
providing access to key DTC market insight and expertise and
offering access to the skills and experience of the DTC, with the support of a personal Key Account Manager.
DTC believes this adds up to a considerable package of benefits. Value Added Services is one of the mechanisms which can assist DTC clients in the most fundamental of business objectives: future profitability in an ever-changing and more competitive market.
Varda Shine, Diamond Trading Company Director of Sales, noted:
With the introduction of Supplier of Choice, DTC and its clients began to address barriers to growth and ways of driving demand for diamond jewellery.
Future demand and growth in the industry needs to be generated not only by increased volume, but particularly by value addition, in our view.
We believe that everyone in this industry needs to be in the business of maximising the value of every diamond sold and competing vigorously for a greater share of the luxury products market.
DTC Value Added Services can deliver some crucial benefits to help Sightholders to grow their businesses.
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BUSINESS EXCELLENCE SEMINAR
The first Business Excellence Seminar , held at Newport in Wales, marked the start of the new DTC Value Added Services (VAS) program, which began with the new 2.5 year supply contract period on 7 July 2005.
The 2 day seminar started off with a special mode of transportation to the site in Wales on the Orient Express - a luxury train that has been described as a unique travel experience aboard one of the most glamorous and elegant trains around the world.
To get an idea of the atmosphere, I've added a short description of one of the Orient Express trains - with a few pictures of some of the participants of the seminar.
> Introduced to carry passengers on spectacular day trips in and around Britain, boarding the train is like entering a treasure house of English artistry, with specially commissioned marquetry, rich brocades, crested china, silver, and crystal.
> Every carriage has a unique air, suggesting the drawing rooms of different country mansions.
> This stately home on wheels is magical, whisking its guests away on this remarkable tour.
> Between stops, life on board settles comfortably into fine dining, exquisite views, and conversations among friends.
> A classic lounge car makes up part of the train, where guests can gather to unwind and chat.
> Guests can expect one of the most relaxed and carefree ways of traveling.
PRESS RELEASE: August 31, 2005
At the first ever Diamond Trading Company (DTC) Business Excellence Seminar for its Sightholders, Lord Coe, former Olympic gold medallist athlete and the driving force behind the successful London 2012 Olympic bid, won over his audience, who are amongst the leading diamantaires, with his speech entitled Against all Odds.
The seminar, held at Newport in Wales, marks the start of the new DTC Value Added Services (VAS) programme, which began with the new 2.5 year supply contract period on 7 July.
Gareth Penny, Managing Director, DTC said:
The diamond business is undergoing a period of transformation like none other in its history and both Sightholders and the DTC are successfully grasping the new opportunities that this change presents.
The seminar was designed to enhance the sense of partnership between the DTC and our Sightholders, as together we face the challenge of greater competition from other luxury goods categories.
Varda Shine, Director of Sales, DTC commented:
The event was highly interactive and the presentations provided plenty of food for thought for both our sightholders and the DTC.
Our seminar's choice of subjects given by internationally recognised speakers is intended to challenge our
sightholders and also the DTC to embrace new ideas and insights from outside the diamond world that could be applied to our own business models.
The DTC organised the speaker program, which included a number of internationally recognized speakers.
In addition to Lord Coe, the external speakers included:
Jimmy Allen of Bain and Co., who spoke about sustainable growth strategies.
Juan Enriquez, Chairman and CEO of Biotechonomy, who spoke about genomics and its role in the world economy.
Noreena Hertz leading political economist spoke about Corporate Social Responsibility.
Sir John Harvey-Jones leading industrialist spoke about creating sustainable business growth.
Peter Leach of BDO Stoy Hayward spoke about family businesses and their challenges.
David Lamb of J.Walter Thompson, who spoke about understanding consumer needs.
Alan Hammill of IBM spoke on the subject of product and service companies.
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MANAGING DIRECTOR
De Beers announced that Varda Shine, sales director for the Diamond Trading Company (DTC,) will become managing director of the Diamond Trading Company - DTC.
This will coincide with the promotion of Gareth Penny to managing director for the De Beers Group.
Shine joined De Beers in 1983, in Israel, with Diamdel.
She proceeded through a series of professional and managerial roles in Israel, transferring to London in 1997.
According to De Beers, Shine has been involved in change initiatives (since her arrival in London), including Integrated Stock Management and Pipeline Shortening.
As Sales Director (since mid 2004) she has helped with shaping the new strategy on beneficiation (in producer countries).
Varda Shine will be taking on the role of managing director of the Diamond Trading Company as of January 1, 2006.
The official announcement about being appointed as managing director was made during the seminar in Wales.
As the Diamond Trading Company (DTC) managing director designate, Varda Shine, has been quoted as saying recently:
We all have an interest in promoting consumer confidence, not just individually, but for the benefit of the wider industry.
We have seen strong growth in the diamond jewellery market since we embarked on our strategy to grow consumer demand in conjunction with our sightholders; however, we have always accepted that for diamond jewellery to compete successfully with other luxury goods over the long term, it must involve the entire industry. This is not something the DTC could achieve alone.
The significance of Israel as a center of excellence in both the manufacturing and marketing of diamonds is recognised by all of us in the diamond industry.
SALES DIRECTOR
The Diamond Trading Company announced the appointment of Des Cavanaugh as its next sales director, in a statement on October 27, 2005.
Des Cavanaugh will succeed Varda Shine on January 1, 2006. The DTC noted that he has been instrumental in developing the DTCs Purchaser of Choice strategy.
BUSINESS STRATEGY UNIT
Jon Savage, who is currently head of sales planning in the DTC sales department,was appointed
executive director of a new DTC Business Strategy Unit that will focus on setting the DTCs five year strategic plans in alignment with the De Beers Group objectives.
The strategic sections of the current sales planning and purchasing teams will move into this new department.
ROUGH DIAMOND DIVISION
The remainder of the purchasing business unit, including the DTCs negotiating team, will join the Rough Diamond Division.
Paul Rowley, will return to London in January from his post as general manager of DTC Kimberley to run the Purchasing team.
Hewill be reporting to Brian McDonald, who is currently the DTC executive director of sorting.
MARKETING
David Lamb will be the new worldwide marketing director of DTC.
Presently, Lamb is the executive vice president at J. Walter Thompson, an advertising agency for De Beers.
Lamb will begin at the DTC post during the first quarter of 2006.
Lamb succeeds Stephen Lussier, who has been promoted to Director of External and Corporate Affairs - De Beers Group.
Varda Shine said that Lamb had developed a number of the DTC marketing campaigns (including the Past, Present,Future -- 3 stone ring concept).
Dominic Brand (DTC marketing director) has been appointed as deputy director, worldwide marketing will act as the interim director until Lamb joins the DTC in 2006.
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