Interview with Wang Zhidong, General Manager of AIDI China Region
Question 1: Where do industry leading enterprises come from?
AIDI's Perspective on Industry Leading Enterprises:
Industry leaders can emerge from any point in the value chain. In the jewelry industry, for example, Swarovski comes from synthetic crystal production, Mikimoto from the consumer retail end, and APM Monaco from jewelry processing. There are many other examples as well.
Question 2: What are the common characteristics of industry leading enterprises?
AIDI's Understanding of the Characteristics of Industry Leaders:
- Leadership in their familiar field.
- A vision for promoting industry growth, believing that the increase in industry volume is the reason for the enterprise's existence rather than just focusing on the current small profits.
- Emphasis on consumer demand, understanding that industry growth comes from increased consumer demand, not other factors.
Question 3: How can an upstream rough diamond manufacturer become an industry leader?
AIDI's View on Becoming an Industry Leader:
- Enter the market and create consumer application scenarios for lab-grown diamonds by collaborating with designers and brand companies to drive production technology development through creating consumer demand rather than blindly pursuing R&D.
- Realize that many tasks in the value chain cannot be accomplished by a single company alone; establish cooperation with upstream and downstream enterprises, allocate sufficient funds, and promote unified development through the association.
- Always believe that the goal of industry development is to increase the overall volume, not just to outperform nearby competitors.
- Always consider global industry development as the ultimate goal, and think from a global perspective for any project.
Question 4: What mistakes are currently being made by the Chinese lab-grown diamond industry in becoming a global leader?
AIDI's Understanding of Current Industry Mistakes:
- In rough diamond production:
- Operating independently and engaging in blind R&D.
- Holding a mentality of retreating to industrial uses if lab-grown diamonds do not develop well, lacking ambition and drive.
- Lacking a global perspective and focusing only on outcompeting domestic manufacturers.
- In cutting and polishing:
- Relying on Indian industries, focusing on current low prices without considering the long-term development of the entire industry.
- Following traditional natural diamond value chain routes, lacking innovative ideas.
- In standard setting:
- Following old paths despite dissatisfaction, accepting natural diamond practices without a global perspective and the importance of setting global standards.
- Lack of cohesion in the domestic industry, operating independently and undermining each other in standard-setting.
- In trading centers:
- Lacking a global perspective, not understanding that trading centers should serve global trade and lead global industry and markets. Without national-level policies and support, trading centers cannot succeed. Limiting trading centers to provincial levels, with multiple centers competing within a single province.
- Not understanding that trading centers must be established in Beijing, operating at a national level to support the global ambitions of Chinese lab-grown diamonds.
- In consumer demand:
- Traditional domestic brand retailers lack motivation to expand consumer application scenarios.
- Emerging brand retailers lack market influence.
- Upstream funds are unwilling to invest in creating consumer demand.
- Expecting to hitch a ride on the success of foreign markets, like American brands and international brands such as Pandora.
Question 5: What is the future of the Chinese lab-grown diamond industry?
AIDI's Perspective on the Future of Chinese Lab-Grown Diamonds:
- The next five years are critical. If the industry can abandon current prejudices and form a united force with a few leading enterprises as the core, there is hope.
- Domestically, leverage the China Jewelry and Jade Jewelry Industry Association as a unified platform to integrate domestic resources and use the International Association of Intelligent Diamonds (AIDI) as an international development platform to integrate global resources. Collaborate to advance the globalization of Chinese lab-grown diamonds. Integrate leading global retail brands, India's cutting and polishing strengths, and China's rough diamond production advantages to support and invest in each other and share resources. This will create a sustainable lab-grown diamond industry with a potential market dividend lasting 20-30 years.
- AIDI has reached a strategic cooperation intention with the National Belt and Road Office. In the near future, AIDI will lead upstream and downstream enterprises to go global. Stay tuned for our latest reports.
Links: International Association of Intelligent Diamonds (AIDI)
- Association of Intelligent Diamond International (AIDI), based in Melbourne, Australia, is a non-profit international organization. AIDI plans or has already established branches in Beijing, Shanghai, Vancouver, Los Angeles, Bangkok, Poland, Germany, and Dubai through offices or strategic partners to guide and serve local members.
- Mission: To enhance the entire value chain of lab-grown diamonds with innovative concepts such as AI, blockchain, data, and science, focusing on consumer creativity to elevate product and brand value from rough production to consumer purchase, ultimately creating a healthy developing lab-grown diamond market.
- Expertise: AIDI spans superhard materials and jewelry applications, with experts familiar with production technology and professionals with years of experience in the jewelry industry and exhibitions. The association-led platform offers cross-industry services to help traditional superhard materials companies enter the jewelry industry.
- Committees:
- Creative Center: Creating lab-grown diamond usage scenarios around consumers.
- Projects: Collaborating with independent designers and designer brands for application scenario development.
- Market and Industry Center: Industry and enterprise information, promotion, exhibitions, pricing systems, and trading systems.
- Projects: Australian Jewelry Fair in August, Hong Kong Jewelry Fair in September, and online and offline promotion activities in domestic and international markets.
- Technology and Standards: Industry standards and technology development.
- Projects: Gem & Diamond Certificate (GDC) and cooperation with domestic standard institutions for global standards for lab-grown diamonds.
- Legal and Investment: Providing industry fund support and green certification for enterprises.
- Projects: Green certification for industry enterprises, ESG initiatives.