Harry Winston maximizes the value of the run-of-mine rough diamonds it receives from the Diavik Mine through sorting and selling strategies that leverage the Company’s unique position in the most profitable segments of the diamond industry
– mining and luxury diamond jewelry retailing.
Sorting for Value
Rough diamonds are sorted at the Company’s Toronto-based, state-of-the-art sorting facility – the first of its kind in North America. In addition, the Company operates a small sorting facility in the heart of the Mumbai diamond district that sorts specific types of diamonds into parcels required by the Indian market. This facility also enables the Company to respond quickly to the needs of that particular market. The Company sorts rough diamonds to obtain an accurate assessment of their quality. Accurate assessment of a stone’s characteristics is the first step in maximizing its value.
Each diamond is unique, an individual mineral specimen. Once cleaned and sorted by carat weight, each stone is individually inspected and assessed by hand by Harry Winston’s own diamond sorting staff using traditional hand-held and head-mounted loupes. Individual stones are assessed on the basis of shape, clarity and color using standardized methodologies and reference to benchmark stones for consistency over time.
Click here to learn more about Carat Weight, Shape, Clarity and Color.
The Company currently sorts rough diamonds into approximately 10,000 different categories or price points. At this stage, the diamonds are combined into custom parcels based on each customer’s needs.
Customer-Focused Selling Strategy
Harry Winston’s diamond market experts sell rough diamonds directly to manufacturers (who cut and polish diamonds), tailoring parcels to the customer’s needs. This minimizes the variation of stones in each parcel and generates a premium for the Company over prices charged by dealers offering more variable parcels. As vendors of rough diamonds in the international marketplace, the Company’s diamond experts are also well positioned to purchase polished stones for use in Harry Winston’s diamond jewelry.
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