Everything is changing, but are you ready?
The natural diamond industry has a bright future—if it evolves. During a recent panel at the World Federation of Diamond Bourses (WFDB) meeting in NYC, leaders from around the globe discussed how the next generation is stepping up.
Moshe Salem, VP of WFDB, declared, “Change is here. If you’re ready to pivot, grab a device and start learning. The business will return—but it won’t be the same.” He emphasized that the narrative around love and rarity must evolve with it.
David Troostwyk, president of the London Diamond Bourse, added that AI is driving a hunger for authenticity. “When everything becomes artificial—emails, articles, even how people speak—natural diamonds and handmade goods will rise in value again.”
Molefi Letsiki from South Africa said the industry must appeal to younger consumers. “Gen Alpha doesn’t see value in diamonds. That’s why they went to lab-grown. We need to reach them on their terms—social media, games, wherever they live.”
Craig Miller of Australia stressed that the diamond trade needs to talk less to itself and more to the consumer: “They’re the ones who make the final decision and spend the money.”
All panelists agreed on one thing: young talent is the future. The Young Diamantaires group has become a hub for people under 45 to challenge norms and build community, not just do business.
“It’s not even about deals anymore,” said Letsiki. “It’s about the difference we make together. That resonates with this generation.”
Mentorship and grooming the next generation were emphasized as acts of leadership. “Let them make mistakes and guide them,” Salem said. “That’s how true leaders grow.”
Each panelist shared personal reasons for staying in the diamond world. From “being part of people’s special moments” to “loving the diversity of industries,” their passion was clear. Salem summed it up: “With spine and principle, you can walk tall in this trade.”