The Diamond Controller at Israel’s Ministry of Economy has named MID House of Diamonds the country’s leading listed polished diamond exporter in 2017, making it the third consecutive year that the company has headed the table.
According to the Ministry of Economy, total exports of loose polished diamonds by MID in 2017 equaled $175 million, slightly down from the $184 million reported in 2016, which closely matched the general decline in polished exports reported by the Israeli industry last year.
MID was one of only three listed Israeli diamond companies to report overseas exports in excess of $100 million in 2017, and its total sales exceeded that of the company that came in second place by $56 million. MID’s exports comprised fully 10 percent of the collective exports by Israel’s top 20 exporting companies, who together accounted for 39 percent of the value of all polished diamond exported during the year.
Four years ago, MID House of Diamonds was awarded Israel’s Outstanding Diamond Exporter Award for 2011. That same year, it headed the listed polished diamond exporter ranks for the first time.
“We are of course delighted at hearing the news, especially during a challenging time for the trade, such as we experienced in 2017,” said Michael Meirov MID’s CEO. “The success of any business cannot be judged on one-time results, but rather by its ability to remain successful over the course of time, during which it invariably it will need to adjust to changing market conditions, both positive and negative. It does this through consistently strong customer relations, and also innovativeness and the adoption and development of new technologies. Judging by the results, I believe that we have managed to make our mark in all those areas.”
Established more than half a century ago by two brothers, Benny and Yossi Meirov. MID House of Diamonds grew into one of the world’s 10 largest manufacturers and suppliers of polished diamonds. Today, while still family owned, it is a multinational company that can fulfill the comprehensive requirements of both major and independent clients in the major retail and jewelry manufacturing sectors. Headquartered in Israel and with sales offices in Antwerp, New York, Los Angeles, Hong Kong, Shanghai, London and Tokyo, MID is one of the most prominently visible diamond companies on the international trade show circuit.
A key element of MID’s success in recent years has been its total commitment to digital sales technology, and its creation of a multi-faceted online sales platform, operating around the clock and including thousands of loose diamonds available for immediate delivery. These complementing the company’s global brick and mortar operation around the world.
In February of this year, the company launched its latest-generation application for mobile devices, which transforms a smart cellular device into a loose polished diamond ordering office, operating 24 hours a day and every day of the week. In March it was reported that MID is among the investors in a startup that is developing the diamond industry’s first application for making digital payments.