In an effort to increase sales in leading global markets, primarily the U.S., China, and India, De Beers has announced a plan to spend more than US$140 million on marketing. This is the company’s biggest spend since 2008.
There’s a lot to say about the power of branding. The Polar Bear Diamond was among the first wave of branded diamonds. De Beers had just discontinued its Diamond Promotion Service (DPS), so the timing was opportune. The Polar Bear brand relied on Canadian origin as its primary differentiator; juxtaposing Canada’s pristine image to that of blood and conflict in Africa. The idea of branding a diamond, from the very beginning, is founded in the promotion of one diamond at the expense of others.
The International Institute of Diamond Grading and Research (IIDGR) will be launching a two-day synthetic diamond detection training course to better equip participants on how to tell the difference between lab-grown diamonds and rough or polished stones.
De Beers’ Gahcho Kué mine received the Viola R. MacMillan Award at the Prospectors and Developers Association of Canada (PADC) Awards Gala for its ability to demonstrate leadership in management and financing for mineral exploration and development of mineral resource.
The Gahcho Kué mine, a joint venture between De Beers Group and Mountain Province Diamonds, has officially began commercial production and is expected to produce approximately 54 million carats of rough diamonds.