ANTWERP DIAMOND MANUFACTURERS PLATFORM [ADMP]

Innovation challenge

The ‘Antwerp Diamond Manufacturers' Platform’ (ADMP) - a cooperative - was established to tackle a number of challenges Antwerp diamond processing companies encountered in recent years.

The offering on international platforms is gigantic. Only a fraction of these stones are ‘processed in Antwerp’. There is potential for a platform that raises the profile of the local offering, because the existing platforms do not focus on the manufacturers, which is counter-productive for the pricing of the goods of Antwerp diamond manufacturers.

Moreover, a large number of local companies do not have online sales channels, which is why ADMP developed an alternative. The challenge consisted in designing and developing a competitive Antwerp platform, called DiAntwerp.

Solution developed

Seven renowned Antwerp diamond companies and the Syndikaat der Belgische Diamantnijverheid (SBD, an employers organisation) took the initiative to establish the cooperative company.

ADMP offers members a custom web page on an online platform and app where they can trade natural diamonds. ADMP has developed a system, which automatically updates inventory. This ensures that the inventory displayed on the platform is always accurate and avoids disappointment for potential buyers. Furthermore, Antwerp’s diamond industry will manage its own online platform and have full control over visibility and promotion.

Finally, spreading the development cost is financially much more advantageous for the members. The individual cost per member is even lower compared with the price of a simple website. Unlike other platforms, ADMP will also organise online auctions to showcase the products of local producers.

The platform’s members will also have access to anonymised data, which will give them insights into activity on the platform, which types of goods sell well, which inventory is left, etc.

How did the coaching enable to accelerate?

Nader Murad: “The programme helped us to identify our unique selling propositions in a very creative way. They asked us to reflect on ways to differentiate our product in relation to the competition during workshops that included value mapping exercises. During the innovation pathway, we worked with consultants who approached our project from different perspectives. The experts inspired us and also validated the 'niche approach’ of our platform.”

The cooperative structure makes it easier to  share know-how with other industry players. The processes were developed in such a way that new members do not have to pass through a notary public first if they want to become members.