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<div class="elementor-button-wrapper"> <a class="elementor-button elementor-button-link elementor-size-sm" href="http://www.get-diamonds.com" target="_blank"> <span class="elementor-button-content-wrapper"> <span class="elementor-button-icon"> </span> <span class="elementor-button-text">Get-Diamonds</span> </span> </a> </div> </div> </div> </div> </div> </div> </section> </div> </div> </div> </section> </div> <div class="site grid-container container hfeed" id="page"> <div class="site-content" id="content"> <div data-elementor-type="single-post" data-elementor-id="656" class="elementor elementor-656 elementor-location-single post-3097 post type-post status-publish format-standard has-post-thumbnail hentry category-president-letter tag-de-beers tag-marketing tag-natural-diamond-council tag-natural-diamonds" data-elementor-post-type="elementor_library"> <section class="elementor-section elementor-top-section elementor-element elementor-element-5a8b9ec elementor-section-height-min-height elementor-section-full_width elementor-section-height-default elementor-section-items-middle" data-id="5a8b9ec" data-element_type="section" data-settings="{"background_background":"classic"}"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cf4e60f" data-id="cf4e60f" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-a688223 elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading" data-id="a688223" data-element_type="widget" data-widget_type="theme-post-title.default"> <div class="elementor-widget-container"> <h1 class="elementor-heading-title elementor-size-default">Let’s Invest in Marketing Natural Diamonds</h1> </div> </div> <div class="elementor-element elementor-element-0ea824d elementor-align-center elementor-tablet-align-center elementor-mobile-align-center elementor-widget elementor-widget-breadcrumbs" data-id="0ea824d" data-element_type="widget" data-widget_type="breadcrumbs.default"> <div class="elementor-widget-container"> <p id="breadcrumbs"><span><span><a href="https://wfdb.com/category/president-letter/">President's Letter</a></span> » <span class="breadcrumb_last" aria-current="page">Let’s Invest in Marketing Natural Diamonds</span></span></p> </div> </div> <div class="elementor-element elementor-element-cba14ba elementor-align-center elementor-tablet-align-center elementor-mobile-align-center elementor-widget elementor-widget-post-info" data-id="cba14ba" data-element_type="widget" data-widget_type="post-info.default"> <div class="elementor-widget-container"> <ul class="elementor-inline-items elementor-icon-list-items elementor-post-info"> <li class="elementor-icon-list-item elementor-repeater-item-985d328 elementor-inline-item" itemprop="datePublished"> <a href="https://wfdb.com/2024/10/30/"> <span class="elementor-icon-list-icon"> <i aria-hidden="true" class="fas fa-calendar"></i> </span> <span class="elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date"> <time>October 30, 2024</time> </span> </a> </li> </ul> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-4f44d6d elementor-reverse-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="4f44d6d" data-element_type="section"> <div class="elementor-container elementor-column-gap-default"> <div class="elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-a1c1f54" data-id="a1c1f54" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-0c7da9c elementor-widget elementor-widget-theme-post-content" data-id="0c7da9c" data-element_type="widget" data-widget_type="theme-post-content.default"> <div class="elementor-widget-container"> <p>Dear Friends,</p> <p>The diamond industry is undergoing a very challenging time, with demand, especially for natural diamonds, declining significantly. The Chinese market has slowed down almost to a standstill and economic developments in the United States have raised the cost of living and left many with less disposable income. Moreover, natural diamonds are being challenged by synthetics, which have been promoted heavily at the retail level.</p> <p>Let’s look at the origins of this crisis. There has not been a major generic marketing campaign for natural diamonds for close to 20 years, when De Beers stopped promoting “A Diamond is Forever.” An entire generation of consumers has come of age without having been exposed to promotional campaigns with positive messages about natural diamonds. They are likely to be concerned about the diamond industry’s reputation concerning human rights. And they do not necessarily believe that natural diamonds stand for everlasting love.</p> <p>The situation requires a major intervention to raise demand.</p> <p>Our industry has never invested in marketing like other luxury categories. It was always clear to us that consumers wanted our product, and if there was any problem it was limited supply. Consumers wanted our product because they were exposed to very successful generic campaigns over many years. And now the effect of these generic campaigns is wearing off. </p> <p>Now is the time to make a change; we need now to invest in major promotional campaigns that create demand for natural diamonds. Right now, both De Beers and the Natural Diamond Council are both spending millions of dollars on campaigns with leading retailers, and that is very positive. But I am concerned that this is too little and too late. To be successful, campaigns need to be coordinated and to be consistent throughout the year.</p> <p>It is up to every member of the industry to contribute to this effort: the producing countries, the mining companies, the bourses, manufacturers, traders, jewelry designers and manufacturers, retailers and all the other players whose livelihood depend on this industry. The producing countries in Africa and elsewhere, and the mining companies must contribute the largest sums. We need to bring the diamond industry to a healthy level of spending on marketing. Moreover, we need to consistently keep diamonds in the public eye. Let’s create a 5-year plan for marketing diamonds, and not rely on short-term initiatives when the situation is particularly dire.</p> <p>This effort needs to be coordinated, so let’s begin the discussion of how we can move this forward. The WFDB will initiate an industry-wide discussion in the coming weeks. In the meantime, let’s hope for a positive holiday season for all.</p> <p>Best regards,<br>Yoram Dvash</p> </div> </div> </div> </div> <div class="elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-ded189c" data-id="ded189c" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-95c88bd elementor-share-buttons--view-icon elementor-share-buttons--skin-framed elementor-grid-1 elementor-share-buttons--color-custom elementor-grid-mobile-6 elementor-share-buttons--shape-square elementor-widget elementor-widget-share-buttons" data-id="95c88bd" data-element_type="widget" data-widget_type="share-buttons.default"> <div class="elementor-widget-container"> <div class="elementor-grid"> <div class="elementor-grid-item"> <div class="elementor-share-btn elementor-share-btn_facebook" role="button" tabindex="0" aria-label="Share on facebook" > <span 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category-president-letter tag-china tag-dubai tag-gjepc tag-hong-kong tag-usa tag-wdc"> <div class="elementor-post__card"> <div class="elementor-post__text"> <h3 class="elementor-post__title"> <a href="https://wfdb.com/president-letter/time-for-cautious-optimism/" > A Time for Cautious Optimism </a> </h3> <div class="elementor-post__excerpt"> <p>Dear Friends, Last month in my President’s Letter, I called for the industry to unite behind a major marketing campaign to create demand for natural</p> </div> <a class="elementor-post__read-more" href="https://wfdb.com/president-letter/time-for-cautious-optimism/" aria-label="Read more about A Time for Cautious Optimism" tabindex="-1" > Read More » </a> </div> <div class="elementor-post__meta-data"> <span class="elementor-post-date"> November 19, 2024 </span> </div> </div> </article> <article class="elementor-post elementor-grid-item post-3097 post type-post status-publish format-standard has-post-thumbnail hentry category-president-letter tag-de-beers tag-marketing tag-natural-diamond-council tag-natural-diamonds"> <div class="elementor-post__card"> <div class="elementor-post__text"> <h3 class="elementor-post__title"> <a href="https://wfdb.com/president-letter/lets-invest-in-marketing-natural-diamonds/" > Let’s Invest in Marketing Natural Diamonds </a> </h3> <div class="elementor-post__excerpt"> <p>Dear Friends, The diamond industry is undergoing a very challenging time, with demand, especially for natural diamonds, declining significantly. The Chinese market has slowed down</p> </div> <a class="elementor-post__read-more" href="https://wfdb.com/president-letter/lets-invest-in-marketing-natural-diamonds/" aria-label="Read more about Let’s Invest in Marketing Natural Diamonds" tabindex="-1" > Read More » </a> </div> <div class="elementor-post__meta-data"> <span class="elementor-post-date"> October 30, 2024 </span> </div> </div> </article> <article class="elementor-post elementor-grid-item post-3088 post type-post status-publish format-standard has-post-thumbnail hentry category-blog tag-diamond-industry tag-get-diamonds tag-interview tag-moshe-salem"> <div class="elementor-post__card"> <div class="elementor-post__text"> <h3 class="elementor-post__title"> <a href="https://wfdb.com/blog/interview-with-moshe-salem-vice-president-world-federation-of-diamond-bourses/" > Interview with Moshe Salem, Vice President, World Federation of Diamond Bourses </a> </h3> <div class="elementor-post__excerpt"> <p>Q. GET-Diamonds was just relaunched under a new licensing agreement. How did that come about? After the inception of GET-Diamonds in 2020, followed by a</p> </div> <a class="elementor-post__read-more" href="https://wfdb.com/blog/interview-with-moshe-salem-vice-president-world-federation-of-diamond-bourses/" aria-label="Read more about Interview with Moshe Salem, Vice President, World Federation of Diamond Bourses" tabindex="-1" > Read More » </a> </div> <div class="elementor-post__meta-data"> <span class="elementor-post-date"> October 27, 2024 </span> </div> </div> </article> </div> </div> </div> </div> </div> </div> </section> </div> </div> </div> <div class="site-footer"> <div data-elementor-type="footer" data-elementor-id="79" class="elementor elementor-79 elementor-location-footer" data-elementor-post-type="elementor_library"> <section class="elementor-section elementor-top-section elementor-element elementor-element-2c05ce9 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle" data-id="2c05ce9" 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