GABORONE, March 20 (Xinhua) -- The world diamond giant De Beers has added five more sightholders for its suppliers of choice for the remaining period of 2012 to 2015, bringing the number of its sightholder to 82, according to its statement released here on Wednesday.
The sightholder status is subject to De Beers' forecast rough diamond availability and the eligible applicant's submission of a Contract Proposal Questionnaire (CPQ) as part of the 2013 re- planning process.
Each applicant for a contract under the 2013 re-planning process has been subject to the same rigorous and objective selection process as those applicants that applied for supply at the start of the 2012-2015 contract period in 2011.
"De Beers is proud to welcome five new businesses into the Sightholder community. Our Sightholders represent the world's leading diamantaires, and today's announcement means that we will be better able to supply them with the right diamonds to support them in adding maximum value to our finite resource," said Philippe Mellier, CEO of the De Beers Group.
Varda Shine, Executive Vice President of De Beers, said the introduction of dynamism into this contract period "is a further evolution in our Supplier of Choice strategy, which provides a greater level of flexibility for Sightholders and enables De Beers' distribution to be more efficient."
De Beers will supply 82 sightholders globally for 2013-2014 period, which will commence on March 31 this year.
Supplier of Choice (SoC) is the De Beers sales strategy which describes the contract the diamond giant enters into with its sightholders. The strategy is an open and transparent competitive mechanism through which diamond polisher apply and qualify.
All SoC applicants are expected to demonstrate good financial standing and reliability, have an excellent business reputation. In addition, SoC applicants are compared, relative to all other applicants, in terms of their financial performance, technical ability, distribution and marketing ability, market position and business coherence.