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ALROSA becomes a certified member of the RJC

ALROSA has become a certified member of the Responsible Jewellery Council (RJC) by achieving certification against its Code of Practices through meeting the highest ethical, human rights, social and environmental standards as established by the...

Yesterday

De Beers rakes in $450mln from latest rough sales – Anglo

Anglo American said De Beers raked in $450 million from its tenth sales cycle of the year compared with $422 million, a year earlier.

Yesterday

The Kimberley Process (KP) Plenary session starts in Brisbane, Australia

Prior to the commencement, the World Diamond Council (WDC) led bilateral meetings with members of the KP family including the Chair, some of the 81 KP member countries and the Civil Society Coalition. It also conducted its third Observer’s Forum...

Yesterday

CIBJO President expressed support for De Beers plan to develop diamond traceability system

CIBJO President Gaetano Cavalieri has voiced the World Jewellery Confederation's support for a De Beers development project that employs blockchain technology, which was announced on December 4 by the group's CEO, Bruce Cleaver.

11 december 2017

IDE to unveil technology breakthrough initiatives at IDWI 2018

The Israel Diamond Exchange (IDE) has announced that it will unveil a series of groundbreaking initiatives that will have an important impact on the diamond industry in Israel and worldwide at the International Diamond Week in Israel (IDWI)...

11 december 2017

A Fake Jerome and real diamonds?

17 february 2017
(polishedprices.com) - Mining Weekly reports that the Diamond Producers Association is lobbying for its advertising fund to be raised tenfold from $6 million to $60 million. The article refers to the fact that overtime De Beers had cut its marketing budget in half to $100 million before effectively stopping generic advertising, all one of the disastrous consequences of their Supplier of Choice strategy in 2001. My understanding is that De Beers no longer owns the ‘Diamonds are Forever’ slogan, which they transferred into De Beers LV or the jewellery business, instead we have got the Coke muse, about ‘Real’… who wants dreams to be real? In the FT it has been reported that Sotheby’s is suing to reclaim the proceeds of the sale for a painting of Saint Jerome that has subsequently proved to be a fraud. Lastly, I read this headline in Vogue, “This is your new source for conflict free ethical (and gorgeous) engagement rings”. It does not take a genius to guess that they are referring to Lab grown diamonds, or as the trade likes to use the pejorative term, synthetic diamonds. To me these three bits of news or information, which I presume bypass the fashion for fake information, though it is difficult to comprehend how anyone thinks raising advertising spend to $60 million, given the absence of coordinated generic advertising for so long, can make much difference.

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