The diamond industry is falling short when it comes to category marketing, leading figures said in Antwerp Tuesday, calling for every member of the trade to play a role in promoting the natural product.
While today’s diamantaires benefited from past generations’ category marketing, “as an industry — and I would include De Beers in this — we’ve taken that for granted too much,” De Beers CEO Al Cook told an audience at the Facets 2024 conference. “We need everyone to step up,” he insisted. “We need everyone to play their role in talking about natural diamonds, in marketing natural diamonds.”
The danger of neglecting natural-diamond marketing was a central theme at the conference in Belgium, which attracted more than 500 attendees from around the world. Executives lamented the absence of category promotion in the 15 years since De Beers stopped doing this.
“No one sees the value in marketing until you take it away,” David Kellie, CEO of the NDC, stressed at a panel on unlocking the value of natural diamonds. The industry has wasted a great opportunity to flourish over the past decade, which has seen a reduction in diamond production, growth of the middle classes, and a luxury boom, Kellie continued. For more Updates Do follow us on Social Media
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