For the fourth year running, MID House of Diamonds has topped Israel’s list of diamond exporters, published by the Diamonds, Gemstones and Jewelry Administration in the Ministry of Economy.
According to the announcement, MID’s net exports of polished diamonds equaled $196 million in 2018, 12 percent more that the $175 million worth that was reported in 2017. In 2016, the company’s exports totaled $184 million.
The company was one of only two firms listed in the Diamonds, Gemstones and Jewelry Administration’s table whose exports exceeded the $100 million mark in 2018, and its overseas sales surpassed those of its closest rival by $62 million, or 46.2 percent.
According to the Diamonds, Gemstones and Jewelry Administration some 45 Israeli registered diamond companies exported polished goods in excess of $18 million in 2018.
ONE OF WORLD’S 10 LARGEST POLISHED DIAMOND SUPPLIERS
Established more than half a century ago by two brothers, Benny and Yossi Meirov, over the past decade MID has developed into one of the world’s 10 largest manufacturers and suppliers of polished diamonds. Still family-
Benny and Yossi Meirov, founders of MID House of Diamonds.
owned, it nonetheless is a multinational operation with its head office in Israel and sales offices in Antwerp, New York, Los Angeles, Hong Kong, Shanghai, London and Tokyo.
“We are immensely proud to have held on to our position as Israel’s leading diamond exporter,” said Michael Meirov MID’s CEO. “Our legacy is anchored by our being a family company with generations’ worth of accumulated knowledge and experience. But our success in recent years can be attributed to our ability to harness the tools and opportunities of the 21st Century, marrying them to the physical infrastructure that we have established in different countries around the world.”
“What we have done is embrace the future,” Mr. Meirov continued, “developing a platform that interfaces seamlessly with our professional staff located at representative offices in different countries, a social media presence and regular participation in major jewelry trade shows
Michael Meirov, CEO of MID House of Diamonds.
around the world. This multi-layered approach enables us to offer and deliver a comprehensive selection of polished diamonds and jewelry, practically 24 hours a day, seven days a week, 52 weeks a year.”
RIDING TO THE TOP BY EMBRACING TECHNOLOGY
More than most diamond companies, MID has committed itself fully to the new digital business environment, and in so doing has not only avoided the pitfalls of transitioning into an increasingly online sales structure, but rather it has benefitted directly from it.
A key element in the company’s strategy is its multi-faceted online sales platform, operating around the clock, with thousands of loose diamonds available for immediate delivery. The company makes extensive use of APIs (application programming interfaces), which allow diamond retailers around the world
to display MID’s merchandise on their own websites, with the goods are displayed so they appear to be the jeweler’s own offering. When a sale is made, MID’s international network of sales office can deliver the specific stone to the client in a matter of hours.
Since August 2017, MID House of Diamonds has been certified by the Responsible Jewellery council as being compliant with the RJC’s Code of Practice. The code covers the full scope of the operation, including human rights, community development, anti-corruption efforts along the entire supply chain, labor rights, working conditions, health, safety and the environment, as well as accurate methods of disclosure of all products it sells. In becoming certified, the company was subject to an independent and stringent third-party audit.