A message from the President of The London Diamond Bourse David Troostwyk

01 Oct A message from the President of The London Diamond Bourse David Troostwyk

Dear Members,

As we step into this new year (New Membership year and Jewish new Year) together, I want to pause for a moment to reflect on the year gone by and to thank each and every one of you for your loyalty and support during my first full year as President. It has meant so much, especially knowing how difficult trading conditions have been, not only for diamantaires, but also for private jewellers, jewellery manufacturers, and retailers.

We have faced challenges together; sanctions on Russian diamonds, the ongoing impacts of the war in Ukraine, the far-reaching consequences of the conflict in the Middle East, the uncertainty of shifting demand, the maturity and the dramatic loss of value for lab grown diamonds, and most recently, the turbulence caused by President Trump’s tariffs.

Yet, through it all, we at the London Diamond Bourse have shown resilience. We have adapted, sought out opportunities, shifted our focus, and worked tirelessly to stay competitive in what has become a demanding market.

Looking Back and Moving Forward

As we close last year and open a new membership year, I encourage every member to take time to reflect:

• What worked well?
• What can be improved?
• Where is there room to reinvent and refresh?

I have always believed in the importance of reinvention. It keeps our businesses exciting, sharpens our focus, and helps us stay aligned with what truly adds value. Rejuvenation is not just desirable, it is essential.

The Power of Relationships

At its heart, our business is built on relationships. While the industry has changed drastically over the years and the traditional role of a diamond bourse may feel different, I remain firmly convinced of the enduring value our community offers.

Here you will find:

• Expertise from a wide pool of specialities
• Friendship and camaraderie that sustain us through tough times
• Knowledge and reach that are difficult to replicate elsewhere

In today’s market, where organisations often push us to compete only on price, let us remember: a diamond is worth only what someone is willing to pay for it. The true question is, how can you add value, whether in your own sales or in supporting your clients?

Too often, cutting costs means compromising on quality. But our trade is not about “cheap.” It is about quality, craftsmanship, and trust. The London Diamond Bourse provides an environment where you can access everything you need to deliver excellence. That is something unique and something to be proud of. It should also give you the confidence to aim for stronger margins, built not just on price competitiveness, but on quality and value.

Exciting Developments Ahead

Looking ahead, there is much to be optimistic about. The Council of Management has been working tirelessly on securing new premises for the coming year. A modern, welcoming space where you can be proud to invite clients.

Alongside this, we will be:

• Rebranding to better reflect who we are today and to attract younger and more diverse members.
• Expanding partnerships with other organisations to create new opportunities for collaboration.
• Growing our educational services, which have already seen great success and will continue to benefit members old and new.

These initiatives are designed to strengthen our community, broaden your network, and ensure the London Diamond Bourse remains a trusted, vibrant hub for our trade.

Strengthening Our Community

As the Council of Management continues to work hard to grow membership and protect the value of your own, I would also encourage you to bring your networks into our fold. Our referral scheme not only supports the Bourse but also reduces your subscription on renewal. Together, we can ensure a stronger, more resilient community for the future.

A Personal Wish

As we begin a new membership year and the Jewish New Year, I want to extend my warmest wishes to all our members; Shana Tova. May you and your families be inscribed in the Book of Life.

Thank you again for your trust and support, I look forward to a successful and prosperous year ahead.