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Las Vegas lowdown: Cautious buying and high hopes for a turnaround

The Diamond Producers Association (DPA) used JCK Las Vegas to launch its new campaign, which it said is based on in-depth research into its target market: millennials. Its slogan ‘Real is Rare. Real is a Diamond’ is meant to redefine diamonds for the 21st century. “Our research reveals millennials long for real, lasting connections with others, but struggle to make them—or to feel sure they are truly authentic—in a world of constant flux, seemingly limitless choice, and superficial interactions. The idea that diamonds have the gravitas and power to celebrate and mark an authentic connection resonates deeply with them,” DPA wrote in a press release.

Appealing to millennial preferences was not lost on Rio Tinto Diamonds. Traceability and transparency are the reasons behind its new tracked jewellery collections and related marketing initiatives, catering to what it says are changing expectations of a new generation of consumers regarding the source of diamonds. The mining giant launched its annual 2016-2017 ‘Diamonds with a Story’ campaign at the show, which includes the work of six U.S. jewellery designers.

“Increasingly, the value of a diamond is tied to where and how it was mined, how it was cut and polished, and the process of bringing it to sale,” said Rio Tinto Diamonds managing director, Simon Trott in a press release. “This is a very reasonable expectation that is steadily reshaping the diamond industry for the better.”

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