28 Jan 2023
DiamondWorld Directory
Home |
De Beers marketing spend increase will boost global sales, says WFDB President Ernie Blom
De Beers announced its decision to increase its marketing spending this year to $140 million
By: Diamond World News Service
Aug 30 2017 7:13PM
Reference: 15545  

WFDB President Ernie Blom
WFDB President Ernie Blom
The global diamond and jewellery industries will benefit from the decision announced by De Beers on Tuesday to increase its marketing spending this year to $140 million, said World Federation of Diamond Bourses (WFDB) President Ernie Blom. Although De Beers intends to spend most of the money on its own brands, Forevermark and De Beers Diamond Jewellers, all advertising is good for the wider diamond trade since it has a positive ripple effect, said Blom.

"This is a most welcome move, concentrating resources on the world's three main markets: the United States, China and India," said Blom. "I am delighted that De Beers is also increasing its partnership marketing with the Diamond Producers Association (DPA) and India’s Gem and Jewellery Export Promotion Council (GJEPC).

"Taken together with the DPA's decision to increase its diamond jewellery promotional budget this year to $57 million, we are seeing very significant action in promoting diamonds in key markets. The diamond industry globally can take heart from these decisions as they will serve to boost demand.

“It is extremely encouraging to see these steps being taken with the industry uniting in recent times to tackle the issue of generic diamond jewellery marketing. Resources are very rightly being concentrated on the millennials market because that is a huge consumer market which has not been targeted for advertising before. The DPA's research shows that these younger buyers believe in the value of diamonds because they symbolise rarity and value, and we wish the DPA and De Beers success for the benefit of WFDB members and the entire industry," Blom added.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32386
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 10051
GJEPC Chairman Interview
Views: 28479
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39935
Promo for IJ Awards 2012 at NDTV Profit
Views: 57520
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 69128
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 22153
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 51325
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53642
Member of:
Supporter of: