De Beers is getting into the lab-created diamond business with a new line of fashion jewelry and an aggressive pricing strategy.
The quality of synthetic diamonds has increased to the point where they have made their way into jewelry stores, but buyers may lose out in the end.
Kara Ross intends to design a movement as well as some new jewelry to fund it.
Dealers say wealthy buyers in volatile economies view rare, colored diamonds as a hedge against economic uncertainty.
Uneven diamond demand led De Beers to create its first “category-driving” campaign in seven years, company executives tell JCK.
“As we have seen the year play out, we have seen overall growth looking more flat than we anticipated at the start of the year,” says De Beers executive vice president of global sightholder sales, Paul Rowley. “We needed to do something to boost the category. So in addition to marketing for the Forevermark, we have decided to do something in a more sort of generic direction.”