Letseng: New Sales and Marketing Strategy, Wants to Go Downstream

The recently found 196 carat white (above) will be sold under the new tender system

Gem Diamonds Limited is in the process of implementing its new sales and marketing strategy for its production of Letseng rough diamonds. On the agenda is moving away from the existing tender system to a more flexible one that includes tendering goods on its own, polishing goods and possibly sales to contract buyers.

Until this month, Letseng’s goods were tendered by WWW in Antwerp. As this contract ended, the company is searching to have greater control over the sale of its goods. Some will be tendered by a Gem Diamonds company in Antwerp.

The first tender under the new marketing strategy will take place in October and may include online, or electronic, bidding.

As first reported by IDEX Online, Gem Diamonds is considering polishing some of the Letseng goods and selling them as polished. Letseng Diamonds CEO Mazvi Manthethe told IDEX Online that the decision to add this avenue has been made and that currently the company is considering its options. They include polishing on their own, partner with a retailer or work jointly with a manufacturer. She declined to comment on who the partner may be.

Manthethe is not ruling out sales to regular buyers, the common model among most producers. “In terms of what we are looking for - there are opportunities, we want flexibility,” she said.

In a press release published on its website today (Thursday), the company said that it is in the process of implementing its new strategy, inviting interested parties to contact them, “Should you wish to be considered to participate in future Letseng Diamonds’ production tenders in Antwerp.”

Companies are invited to email Stephen Wetherall, or visit one of their websites. “You will be contacted directly thereafter to complete the relevant information requirements and registration procedures in advance of the next tender in October.”