Published
Aug 30, 2017
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De Beers bets big on India for growth, to invest heavily in diamond marketing

Published
Aug 30, 2017

World's leading diamond company De Beers Group has identified India along with other top diamond markets like China and USA for its future growth and will be investing $140 million on the marketing of the company’s brands in these countries.




India has contributed significantly to the company’s growth contributing 15-20% of the global market share which is more than USA.
 
“We are investing more than $140 million in marketing this year, which will be biggest spend since 2008. The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets globally, with the greatest spend targeted in the US, China and India," De Beers said in a statement.

The company is also looking to strengthen its partnerships with India’s top jewellery bodies like Diamond Producers Association and India's Gem and Jewellery Export Promotion Council.
 
Stephen Lussier, De Beers Group's Executive VP of Marketing and CEO of Forevermark, said, "Total consumer expenditure on diamond jewellery for the last five years collectively has been the highest on record - and the outlook is positive. However, we can't take future growth for granted."
 
"Increasing our spend from a strong position will help support continued demand in both mature and developing markets, particularly among millennials, who are already the largest group of diamond consumers despite this generation not having yet reached its maximum earning potential," he said.
 
De Beers will be launching its second exclusive Forevermark store in Kolkata later this year.

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