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De Beers unveils its 'big idea'

25 february 2009

De Beers will continue to introduce and market "beacon" diamond jewelry programs in the United States, but only if other industry players agree to shoulder some of the cost.
That is the "big idea" unveiled by the diamond giant at its February sight, held on Monday in London, De Beers spokeswoman Lynette Gould confirmed to National Jeweler.
The plan calls for De Beers to come up with new beacon programs to pique interest in diamond jewelry, but for jewelry retailers and sightholders to help out with the cost of marketing such programs, Gould confirmed. In exchange, these companies could have their products and stores featured in generic advertisements.
Examples of past beacon programs include the three-stone diamond ring and Journey diamond jewelry.
In an e-mail to National Jeweler on Monday, Gould stated, "We have today shared the new idea for the program with sightholders to assess initial interest in participating. The sightholders are being asked to say if, in principle, this is something they'd be happy to be part of and contribute to. We will also be assessing retailer interest over the next few weeks."
The program will not move forward if there is "insufficient interest" and a lack of willingness to contribute money, she said.
If, however, the program does gather enough steam, Gould said De Beers would share further details with interested parties by the second week in March.