Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Another Industry Body Gets ‘Real’ About Promoting Diamonds
The Israel Diamond Exchange and World Federation of Diamond Bourses are releasing a series of videos designed to give a boost to natural diamonds.

Ramat Gan—The industry is getting real about promoting natural diamonds, again.
The Israel Diamond Exchange has partnered with the World Federation of Diamond Bourses to launch a global campaign promoting natural diamonds.
The first video in the campaign contrasts what is “real” in the world—love and diamonds, particularly natural diamonds (though it should be noted that lab-grown diamonds are also “real” diamonds)—with everything that is fake today, from fake news to fake friends garnered through social media.
It ends with the tagline “I heart natural diamonds,” with a heart-shaped diamond.
IDE said Tuesday that the video has been viewed 1.2 million times across various social media platforms and received 323,000 likes or shares so far.
The follow-up (embedded below) was released Tuesday and pivots to the idea of “true.”
It emphasizes that while technology has given society more advanced ways to communicate, shop and entertain, diamonds remain the way to express love and commitment. It too ends with the tagline “I heart natural diamonds.”
WATCH: “True Love, True Diamonds” from the Israel Diamond Exchange
IDE introduced the campaign at the WFDB’s EXCO conference held at the beginning of July in Israel.
The IDE told National Jeweler that the campaign, which was “well received” at the WFDB conference, is “intended to emphasize the distinction between natural diamonds and diamonds grown in the laboratory,” noting that it believes that it is “important to take a stand within the trade.”
The Israel Diamond Exchange and WFDB join the Diamond Producers Association, the organization funded by the world’s diamond miners, in emphasizing “real” in a campaign designed to promote natural diamonds over man-made.
The DPA’s campaign, “Real Is Rare,” came out in October 2016 and is currently in its third wave, marketing to women who buy jewelry for themselves.
RELATED CONTENT: 3 Thoughts on the New Campaign for DiamondsAsked about the use of “real” in its first video, IDE said it doesn’t think that there is too much overlap because the audiences are different, and added that having more than one industry body distribute the message “can only amplify the point.”
DPA CEO Jean-Marc Lieberherr said the same: “It is good that all voices in the industry speak, as we need more than one voice to be heard. Great to see the themes of ‘real’ and ‘rare’ being amplified by other industry voices.”
The IDE’s videos are being released across social
IDE declined to say how much is being spent on the campaign.
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