*The Diamond Choice of a New Generation

Are We Genuinely Sane?

Hey, diamantaires…, are you compos mentis?? Doesn’t it boggle your mind that De Beers is revamping the old “A Diamond is Forever” slogan with a claimed investment of a mere luxury apartment when they used to spend $200 million annually back in the 1980’s and 90’s?

De Beers further parallelly confirms “…..that a recent Lightbox lab-grown diamond (LGD) engagement ring test has now ended. Through the test the company deepened its understanding of LGDs and evaluated the changing landscape and consumer perceptions associated with them. Lightbox will continue to focus on where it sees the most promising future opportunities in the sector – in fashion jewellery and in loose stones at accessible price points – and will not sell LGD engagement rings.”

Figure 1 – De Beers article excerpt confirming loose lab grown diamond sales

Don’t Believe Everything You Read………

I direct linked the above sentence which I believe should give my readers plenty of food for thought. Why would De Beers keep marketing their LGD’s loose, is that part and parcel with “…the changing landscape and consumer perceptions associated with [LGD’s] them”? And all this tested and evaluated in just under three months?

I am not here to dictate again about the old – Diamonds vs. LGD feuds, I leave that to the majority of writers who seem to be doing a great job keeping the discussions at flame. I am actually here to point out that it’s about time to stop coveting the past and start looking over the horizon to a new world we need to get accustomed to!!

Eight Decades of “A Diamond is Forever” is Forever!!

The tagline “A Diamond is Forever” is the perfect place to start, a diamond is indeed forever, diamonds are not perishable and so every single diamond mined through history should physically still be located somewhere on this planet (I wrote a few words on that). But in the year 2023 when we call-out the circa 1948 slogan.., doesn’t it logically also include “A Lab Grown Diamond is Forever”? To my common sense it’s a definite yes, and so is the science which proves it!!

Do we genuinely believe this is the right language to market our diamonds today? Do we truly believe the new generation wants to continue seeing the ‘same old same’ ads their parents and grandparents saw? Again the classic round brilliants, ovals and eternity rings that reminds that love is forever or eternal? Does the new generation agree? Umm, not too sure!!

The One Who Saw the Light….

Rob Bates, the news director for JCK/JCKonline.com wrote a wonderful article on the subject (published Oct 2nd.) and in my opinion definitely hit the nail on the head, or as the title goes “Who’s the Real Target for the New De Beers Ads?”. I am sharing some highlights which should offer some additional eye opening material:

“What group is anxiously pining for the return of “A Diamond Is Forever”? Not younger people. They aren’t that familiar with a slogan that debuted just after World War II. When the Natural Diamond Council’s predecessor, the Diamond Producers Association, surveyed younger consumers, it found the concept of “forever” didn’t always resonate with them.

But you know who loves and remembers that slogan? People in the industry—especially those of us who have been around a while. The tagline “has real energy and sentiment for retailers,” De Beers chief brand officer David Prager told me when announcing the campaign….

…With “A Diamond Is Forever,” “Seize the Day,” and Christmas ads coming to a billboard near you, De Beers is getting the band back together, and it’s playing the hits. The trade is, of course, ecstatic. De Beers knows its audience.”

Wake Up or Forever Hold Your Peace

I believe it is high time to wake up and understand we can’t continue living forever in a round diamond world (or all the other 6 or 7 generic shapes)…, yes, it is the majority of what is being produced and marketed, but that is mainly because we as an industry are not doing a good job inspiring ourselves firstly, let alone the new generation of potential diamond jewelry consumers.

All our alarms are ringing loud and we still ignorantly force our old thinking-habits and can’t realize the new world doesn’t see eye to eye anymore with our old modus operandi of doing business.

Starting with the valuing of our raw materials through the entire vertical integration of our supply chain from the planning, designing, cutting, grading and marketing there are clear alarms sounding reminding each of us that global diamond jewelry consumers of this millennium do not see eye to eye with our old ways!!

*ETA: This article was created in the first week of October but is published about a month late due to the present circumstances in my home country, Israel.