It Was The Year In Which … The European Commission okayed De Beers’ Supplier of Choice strategy … But the EC decided to reopen the investigation because of complaints from sightholders.
It Was the Year In Which … Media articles asked if the introduction of synthetic diamonds would kill the natural gem market … But steady consumer demand for diamond jewelry showed that people are still desiring the real thing.
It Was the Year In Which … More brands were introduced to the industry … But the only brand that consumers seem to know is Canadian diamonds, and that is mainly from buyers who want to avoid conflict diamonds.
It Was the Year in Which … De Beers instituted rough price increases … But the increases were in three small increments, and there was not much movement in the price of polished.
It Was the Year in Which … Many sightholders were dropped by De Beers … But a Belgian court reinstated a dropped sightholder after he sued.
It Was the Year in Which … People worried that the economy would be hurt by the war in Iraq … But the war was over fairly quickly, and the economy seems to gaining steam.