The global financial crisis' affects on the diamond industry in general and specifically luxury jewelers has not inspired Laurence Graff, of Graff Diamonds, to exercise frugality – he paid himself a recession-busting £6.7 million dividend last year.



Graff Diamonds noted a 20% drop in profits in 2009, to £41 million in 2009.



According to the Daily Mail, Graff, whose list of clients includes Elizabeth Taylor and tycoon Donald Trump, is said to be eyeing the Chinese market, to cash in on the country's rising spending power.



"The prospects of the market in China appear very exciting. We are planning further stores in the Far East," he said. Graff Diamonds already has showrooms in Tokyo, Hong Kong and Shanghai.