Industry News by Nemesis

Israel Trade Signs Alibaba Consumer Deal

October 18, 2018

 

The Israel Diamond Exchange (IDE) has expanded its collaboration with Alibaba by introducing sales directly to Chinese consumers. 

Israeli diamonds will be available as loose stones on Ali Auction, the Asian e-commerce giant’s luxury platform, the IDE said Wednesday. The bourse will launch the venture at the inaugural China International Import Expo in Shanghai in early November. 

The nation’s diamond trade began its partnership with China’s Alibaba in February, creating an online virtual store incorporating about 150 bourse members. They started by selling to jewelers and dealers, with the intention of extending the operation to consumers at a later stage. 

“We’re really excited to again be partnering with Alibaba, which is one of the most exciting and creative internet sales platforms in the world,” said IDE president Yoram Dvash. 

Image: Alibaba’s headquarters in Hangzhou, China. (Alibaba)

 

Source: Rapaport

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