Diamonds no longer forever as miners seek new marketing polish
today May 18, 2016
The Diamond Producers' Association, set up last year, to spur demand, will launch a slogan early in June to replace "diamonds are forever", viewed as one of the most successful campaigns of all time but in need of updating, it said on Wednesday.
Diamond demand has stagnated, subdued by a weaker Chinese economy.
The DPA, which groups major producers such as De Beers and Rio Tinto , is looking especially to the U.S. market, which accounts for about 45 percent of diamond demand, to drive recovery.
"The millennial group is going to be bigger than the baby boomers," Jean-Marc Lieberherr, chief executive officer of the DPA, told a London conference, but said the traditional marketing slogan was not sufficiently in tune with the rising generation.
He would not disclose the new slogan, but said it would be released at the JCk jewellery fair in Las Vegas in early June.
© Thomson Reuters 2020 All rights reserved.