Jeweller woos wealthy youngsters

DIAMOND retailer De Beers is ramping up its advertising to win back wealthy shoppers.

The company, which is part of Anglo American, has boosted its marketing budget to £108m this year – the most since 2008.

It wants to woo wealthy youngsters who tend to favour goods other than diamonds – such as electronics, travel and fine dining.

The investment will focus on its three biggest markets, the US, China and India, and the majority of the sum will support its proprietary brands Forevermark and De Beers Diamond Jewellers.

Stephen Lussier, executive vice-president of marketing and chief executive 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.’