https://www.miningweekly.com

De Beers marketing spend increase will boost global diamond sales – Blom

30th August 2017

By: Creamer Media Reporter

     

Font size: - +

JOHANNESBURG (miningweekly.com) – The global diamond and jewellery industries will benefit from De Beers and the Diamond Producers Association’s (DPA’s) increased marketing budgets, says World Federation of Diamond Bourses (WFDB) president Ernie Blom.

Diamond miner De Beers on Tuesday reported that it would invest more than $140-million in marketing this year – its biggest investment in marketing since 2008.

“Taken together with the DPA's decision to increase its diamond jewellery promotional budget this year to $57-million, we are seeing very significant action in promoting diamonds in key markets. The diamond industry globally can take heart from these decisions as they will serve to boost demand,” Blom said in a statement issued on Wednesday.

He noted that, while De Beers will spend most of its marketing budget on promoting its own brands, Forevermark and De Beers Diamond Jewellers, all advertising would be good for the wider diamond trade, since it has a positive ripple effect.

“I am delighted that De Beers is also increasing its partnership marketing with the DPA and India’s Gem and Jewellery Export Promotion Council. It is extremely encouraging to see these steps being taken, with the industry uniting in recent times to tackle the issue of generic diamond jewellery marketing.

“Resources are very rightly being concentrated on the Millennials market because that is a huge consumer market which has not been targeted for advertising before. The DPA's research shows that these younger buyers believe in the value of diamonds because they symbolise rarity and value, and we wish the DPA and De Beers success for the benefit of WFDB members and the entire industry," Blom stated.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION