AMI MESIKA FOLLOWING MEDIA TRENDS

Ami Mesika says he found this article in The Wall Street Transcript very interesting at:
http://www.twst.com/yagoo/Gannicott1one.html

Its an interview with Robert Gannicott who is the CEO of Harry Winston Diamond Corporation (formerly Aber Diamond Corporation), and he has been one of the Directors since its inception in 1992.

TWST: Would you tell us more about the trends you are observing in diamond demand?
Mr. Gannicott: The U.S. is still weak. Before we went into the recession, the U.S. was 50% of the world's off-take of diamond jewelry - so a very important place, of course, and it remains an important place. But thank goodness, as this horrible collapse that we've all experienced over the last year or so took place, the Far East came in to pick up the slack. Even though the pace of recovery in the U.S. is still pretty muted, viewed from the point of view of our own businesses, the diamond business has traditionally been a late-cycle performer, if you like. So in the U.S., it's still a struggle, it's improving, but it's still nowhere near where it was in the pre-crisis times. On the other hand, sales in Asia have been nothing short of spectacular. So obviously, we would expect that when the U.S. economy does get back on its feet again properly, and assuming that nothing goes wrong to seriously interrupt the flow of improvement in the Far East, then it should be a very exciting diamond market indeed.

Ami Mesika agrees with these trends and says that the jewelry business will get better.

Ami Mesika – December 2010