New York-based Abe Mor Diamonds Cutters and Co. is setting up shop in Canada.
The family-run business, which supplies diamonds and diamond jewellery, said the decision to expand north of the border was clear-cut.
“The strong Canadian dollar and the elimination of the 10 per cent excise tax means Canadian diamonds are more affordable,” said Alon Mor, one of the company’s owners.
“Through our research, we learned that Canadian diamond retailers are demanding better quality diamonds that are extremely well cut and backed by GIA grading reports.”
The company says it expects the diamond market in Canada to grow at a faster pace than in the United States.
“It is a lot easier now for Canadian jewellers to buy directly from cutters in the United States,” Mor said, adding the company will supply cut GIA-certified Canadian diamonds. “Both of these recent developments have made Canada the right place for us to expand in.”
Abe Mor has picked Doug Zmurchok to head the Canadian operation.
