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DeBeers Goes Retail!
DeBeers, the Mining Giant and for years the engine that drove the wholesale and manufacturing sector of the Diamond Industry came full circle yesterday by opening their first Retail store in the heart of New York's tony 5th Avenue, just a stone's throw from such stalwarts as Tiffany, Cartier, Harry Winston, and van Cleef and Arpels.
DeBeer's foray into direct retail further blurs and erodes what had for many years been strict demarcated lines between wholesalers and retailers and furthers their concept of Branding and niche marketing.
This move combined with the increasing market share of Internet diamond and jewelry websites increases the pressure upon retailers to define themselves to consumers and provide added value and quality to the products they sell. Middelmen are becoming an extinct species.
Who woulda thunk this would happen even a few short years ago? The industry is changing and evolving at warp speed.
For retailers, it is now "Adapt or Die"!
Darwin, where are you?
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