Israel Trade Signs Alibaba Consumer Deal

RAPAPORT... The Israel Diamond Exchange (IDE) has expanded its collaborationwith Alibaba by introducing sales directly to Chinese consumers. Israeli diamonds will be available as loose stones on Ali Auction, the Asian e-commercegiant's luxury platform, the IDE said Wednesday. The bourse will launch theventure at the inaugural China International Import Expo in Shanghai in earlyNovember. The nation's diamond trade began its partnership with China'sAlibaba in February, creating an online virtual store incorporating about 150bourse members. They started by selling to jewelers and dealers, with theintention of extending the operation to consumers at a later stage. "We're really excited to again be partnering with Alibaba, whichis one of the most exciting and creative internet sales platforms in theworld," said IDE president Yoram Dvash.Image: Alibaba's headquarters in Hangzhou, China. (Alibaba)