The Young Diamantaires group has officially become an industry association, based in Dubai, and has elected its first board of directors.

“This formalization solidifies the Young Diamantaires’ commitment to fostering a forward-thinking, inclusive community dedicated to its members’ professional development and advancement while promoting sustainability, innovation and ethical practices within the diamond and jewelry industry to shape its future,” the group said Friday.

The organization appointed a new board, representing various countries within the industry. The board comprises David Troostwyk, president of the London Diamond Bourse (LDB); Elodie Daguzan, executive director of the World Diamond Council (WDC); Kevin Vantyghem, president of Vantyghem Diamonds; Melissa Smet, executive director of the Syndicate of the Belgian Diamond Industry (SBD); Mike Asscher, president of Royal Asscher Diamonds; Rachel Sahar, founder of R Sahar Diamonds, and Shai Schnitzer, president of S Schnitzer Diamonds.

“This milestone empowers us to better unite and support the next generation of the diamond and jewelry industry leaders,” the board said. “Together, we’re not just participating in the future of our industry — we’re actively shaping it.”

The organization will also create an alumni group for Young Diamantaires above 50 years old, it added.