Diamonds International

Diamonds International is a privately owned international jewelry manufacturer and retailer advertised as "the largest duty free jeweler in the world". The company is headquartered in New York, NY on 48th Street between Rockefeller Center and the 47th Street Diamond District.

Company history

Diamonds International was founded in 1986 on the island of St Thomas and currently operates 129 stores in Antigua, Aruba, Bahamas, Barbados, Belize, Cabo San Lucas, Cancun, Costa Maya, Cozumel, Grand Cayman, Juneau, Ketchikan, Key West, Mazatlán, Playa Del Carmen, Puerto Vallarta, San Jose Del Cabo, Skagway, St. Kitts, St. Maarten, St. Thomas and Turks & Caicos.^[1] The primary business model of the company centers on marketing toward cruise line passengers with locations at high traffic port of calls within the cruise industry, in addition to advertising with the cruise lines themselves.^[2] Diamonds International operates stores under the names of Diamonds International, Tanzanite International, DI Watch & Design, Watches International, Amsterdam Diamond Gallery, DI Watch and Design, DI Collection and Tequileria International.

Diamond industry affiliation

Diamonds International, through parent company Almod Diamonds Ltd., is a member sightholder of the Diamond Trading Company, the sales and distribution arm of DeBeers, via a joint venture between the DTC and the government of the Republic of Namibia known as the NDTC. Diamonds International is one of 11 sightholder companies authorized to purchase diamonds from the NDTC and the only sightholder to sell diamonds directly to the consumer market^{[citation needed]}. Diamonds International processes purchased NDTC rough diamonds through their cutting and polishing facilities in Namibia.

Duty free status

Diamonds International operates businesses under international port allowances that declare goods as duty free, utilizing statutes that also govern sales at some airports, within the air or at sea. The company expanded operations to include online sales through their web presence, ShopDI.com, in June 2000. Although the site advertises as "duty free" in reference to the larger company as a whole, it is subject to the same tax regulations as other online jewelers within U.S. borders.

References

1. ^ http://www.shopdi.com/Store-Locations/lo/lo.cfm
2. ^ http://www.europastar.com/europastar/search/search_display.jsp?vnu_content_id=1002764361