International Diamond Laboratories unveils expansion plans

IDL will open a new office in Italy, the world's leading jewellery market, by mid December 2008.

The Dubai Multi Commodities subsidiary will also start direct operations in Saudi Arabia by the end of 2008 with a branch office in 'Jeddah International Centre'.

IDL is the first international laboratory to open a diamond and diamond jewellery grading lab in Saudi Arabia.

The announcement comes as IDL prepares to participate in the first Middle East and China Diamond & Jewellery Summit organised by Dubai Multi Commodities Centre and supported by IDL and Dubai Diamond Exchange.

The event is taking place in Dubai from 8th-9th November, 2008.

Peter Meeus, CEO of IDL said: "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 specialized services will help to build consumer confidence in the industry."

IDL currently has offices in Dubai, Mumbai, Antwerp and Istanbul.

IDL's fifth branch office is scheduled to open in Valenza, Italy's manufacturing heart of high-end jewellery and home to many of Italy's leading diamond jewellery brands like Bulgari, Roberto Coin, and Pasquale Bruni.

Italy is the world's leading jewellery-exporting country, nearing 5 billion Euros for 2007 and is a key market for IDL.

Peter Meeus commented: "Being present in a world renowned jewellery manufacturing hub like Italy is an important step for us. Our certification services are not new to Italy, we have received positive feedback from Italian jewellery manufacturers and we look forward to starting direct operations in the country."

By the end of 2008, a new IDL branch will also be operational in Jeddah to serve Saudi Arabia's growing local diamond and diamond jewellery industry. Until now IDL has served the market from Dubai with its certification and education services.

Commenting on the new office to be opened in the Kingdom, Peter Meeus said:

"Saudi Arabia is showing impressive levels of retail growth. 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. This has fuelled a demand for professional and accurate certification services and we have decided to make a strategic move to open a full fledged diamond and diamond jewellery certification laboratory in Jeddah."

IDL employs the latest technologies in its labs where all polished diamonds are scientifically graded to ensure they have not been treated and are of natural origin.

The IDL certificate assures the consumer of the 4Cs- clarity, colour, cut and carat- of the polished diamond or diamond jewellery they purchase.

IDL also provides laser inscription services that link the diamond to the certificate providing added confidence.