press releases
IDL opens full fledged diamond laboratory in Istanbul
August 28th 2008, Dubai.
First of its kind diamond laboratory in Turkey
First Turkish Diamond Graduates of Dubai Diamond Academy awarded diploma
International Diamond Laboratories (IDL), an initiative of the Dubai Multi Commodities Centre, has opened a full fledged facility in Istanbul to offer its internationally recognized diamond grading services. At the inauguration event the first class of Turkish diamond graduates of the Dubai Diamond Academy received their diploma. The newly opened laboratory is the first of its kind in Turkey and will offer IDL’s expert diamond grading certificates assuring consumers of the quality and value of their diamond purchase. It is also the first diamond grading laboratory that has automated the color grading process through the IDL Color Meter™, taking the human error out of the equation in color grading and therefore providing accuracy and consistency. The lab will operate from the IKO headquarters in the center of the diamond and jewelry district of Istanbul. For the occasion, IDL held a meeting of its international Board of Directors in Istanbul. The IDL Board includes Ahmed bin Sulayem, Executive Chairman of DMCC, Dr. David Rutledge, CEO of DMCC, Ian White, former Sales Director of DTC, Peter Gross, former Global Head of the ABN Amro Diamond and Jewelry Group and Peter Meeus, former Managing Director of HRD. “Considering Turkey’s leading position as a jewelry manufacturing centre and its growing consumer market for high quality diamond jewelry, entering the Turkish market is an important step for us,” said Peter Meeus, Chief Executive Officer (CEO) of IDL. “Our newly established lab in Istanbul will provide diamond grading certificates for loose diamonds and diamond jewelry. Since IDL reports are a mark of trust and objectivity, consumers can rest assured that their diamond purchases are of the desired quality and retailers offering IDL certificates will have an extra edge.” Sales of rough diamonds in Turkey stand around $600 million while the consumption of diamond jewelry is around $1.2 billion and the consumption of diamonds has risen around 25 percent annually. A growing population and Turkey’s position at the border of Middle East and Europe makes it an ideal location for trading and holds great potential for IDL’s services. “IDL’s entry is a sign that the market is maturing and consumers and retailers are becoming more aware of the importance of diamond grading certificates. Their specialized services will definitely benefit the diamond industry as it helps to build consumer confidence. We welcome IDL’s presence in the country,” said Allaattin Kameroclu, President of IKO which represents 6000 wholesalers and retailers from the Istanbul region. IDL will also offer specialized diamond education programs recognized worldwide. It recently conducted an advanced program in diamond grading in Istanbul which saw 12 successful candidates graduate. The education program is done in collaboration with the Dubai Diamond Academy, a division of the Dubai Diamond Exchange (DDE). IDL, which started operations in 2007 in Dubai, is also present in Antwerp, Jeddah and Mumbai and has offered many pioneering services like automated color grading and the world’s first diamond color certificate and Arabic language certificate. It is also the first lab to offer diamond jewelry certification services.
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