DE BEERS TO REVIVE 'A DIAMOND IS FOREVER' TAGLINE WITH $20 MILLION INVESTMENT FOR 2023 HOLIDAY SEASON
De Beers' Resolute Investment in Natural Diamonds Signals Confidence in the Gem's Timeless Appeal
De Beers Group has made a significant announcement, revealing its plans to reintroduce its iconic 'A Diamond is Forever' tagline for the 2023 holiday season in the US and China. In addition to this revival, the company is set to invest an additional $20 million to boost consumer demand for natural diamonds.
This category investment will supplement De Beers' ongoing brand activities, ushering in the return of the highly successful 'Seize the Day' campaign. This campaign, infused with a modern sensibility, aims to resonate with the values and priorities of a new generation of consumers.
The $20 million investment will be allocated towards a diverse media mix in the US and China, focusing on end clients with a timely message for the holiday season. The campaign will encompass traditional media channels, including print, out-of-home, and digital platforms. Notably, a substantial portion of the investment will be directed towards influencer-developed content, ensuring that the unique attributes of natural diamonds are communicated in an engaging and relevant manner.
In addition to running the campaign itself, De Beers is making campaign materials available to the trade, free of charge. The company is collaborating with leading industry organizations to facilitate retailers' access to select campaign assets.
Simultaneously, De Beers confirmed the conclusion of a recent test involving Lightbox lab-grown diamonds (LGD) for engagement rings. This initiative provided De Beers with valuable insights into LGDs, allowing them to evaluate shifting consumer perceptions and the evolving landscape. Lightbox, De Beers' subsidiary, will now focus its efforts on what it sees as promising opportunities in the sector, particularly in fashion jewelry and loose stones at accessible price points. Importantly, Lightbox will cease selling LGD engagement rings.
The engagement ring test reaffirmed insights into the broader LGD sector, highlighting that the commercial viability of many LGD engagement ring offers is likely unsustainable. Retailers would need to double the number of LGD carats sold every two years just to maintain a flat absolute gross profit.
De Beers' most recent consumer survey data for the US and China underscores the enduring allure of natural diamonds. In these markets, natural diamonds rank among the top three most desired luxury items for women. In the US, the survey reveals that four out of five women consider natural diamonds to hold significant sentimental value, making them the perfect choice to commemorate important moments in a relationship. In contrast, the primary motivation for LGD purchases appears to be price. The data reveals that four times as many luxury jewelry consumers would choose natural diamonds for special occasions compared to LGDs. Moreover, over three and a half times as many consumers express pride in wearing natural diamonds compared to LGDs.
Al Cook, CEO of De Beers Group, expressed his enthusiasm for the campaign, stating, "Natural diamonds have remained icons of love for centuries. And De Beers advertising has remained iconic over the decades. We're proud to build on this tradition by reviving and refreshing one of our most successful campaigns. By investing ahead of the holiday season, we aim to support the industry, drive consumer demand, and underline our confidence in the future of the diamond dream."
David Prager, Chief Brand Officer of De Beers Group, echoed these sentiments, emphasizing the significance of 'A Diamond is Forever' and the commitment to supporting retailers in unlocking the strong desire for natural diamonds during the holiday season.
With the resurgence of 'A Diamond is Forever' and the substantial investment, De Beers aims to celebrate the timeless appeal of natural diamonds and capture the hearts of a new generation of consumers during the holiday season.#THE S MEDIA #Media Milenial #De Beers Group #natural diamonds #'A Diamond is Forever' tagline #holiday season #consumer demand #diamond industry #'Seize the Day' campaign #US #China #influencer marketing #lab-grown diamonds #Lightbox #consumer perceptions #luxury items #jewelry market #brand investment