De Beers To In­vest $140 Mn On Di­a­mond Mar­ket­ing This Year

Solitaire - - SPECTRUM -

De Beers has an­nounced it will in­vest more than $140 mil­lion in mar­ket­ing this year – its big­gest spend since 2008. The in­creased in­vest­ment will be fo­cused on gen­er­at­ing fur­ther con­sumer de­mand for di­a­mond jew­ellery in the lead­ing mar­kets glob­ally, with the great­est spend tar­geted in the US, China and In­dia.

While the ma­jor­ity of the in­vest­ment will sup­port De Beers’ pro­pri­etary brands, Forever­mark and De Beers Di­a­mond Jew­ellers, the com­pany will in­crease its spend on part­ner­ship mar­ket­ing, in­clud­ing with the Di­a­mond Pro­duc­ers As­so­ci­a­tion (DPA) and In­dia’s Gem & Jew­ellery Ex­port Pro­mo­tion Coun­cil (GJEPC).

Stephen Lussier, De Beers Group’s ex­ec­u­tive vice pres­i­dent of mar­ket­ing and CEO of Forever­mark, said: “To­tal con­sumer ex­pen­di­ture on di­a­mond jew­ellery for the last five years col­lec­tively has been the high­est on record – and the out­look is pos­i­tive. How­ever, we can­not take fu­ture growth for granted.

“In­creas­ing our spend from a strong po­si­tion will help sup­port con­tin­ued de­mand in both ma­ture and de­vel­op­ing mar­kets, par­tic­u­larly among mil­len­ni­als, who are al­ready the largest group of di­a­mond con­sumers de­spite this gen­er­a­tion not hav­ing yet reached its max­i­mum earn­ing po­ten­tial.”

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.