A US slowdown in demand for polished diamonds is gradually
building up inventories at Indian jewellery manufacturing companies,
leading to a decline in diamond prices by as much as seven percent this
month.
The US usually orders bulk for the holiday season, but this year the volumes are down.
De Beers marketing spend this years is more than $140 million, This is the biggest De Beers push in a decade.
The marketing will focus on increasing consumer demand for diamond jewellery in US, China and Indian markets.
The De Beers brands, Forevermark and De Beers Diamond Jewellers. Will
receive the most funding, But Debeers will also increase its
contributions to the Diamond Producers Association and India’s Gem &
Jewellery Export Promotion Council.
Stephen Lussier, De Beers’ executive vice president of marketing and CEO of Forevermark. Said the consumer expenditure for diamond jewellery over the past five years collectively has been the highest on record. and this made the outlook positive.
In Taylor Swift’s new music video for “Look What You Made Me Do.” The pop star is seen sitting in a bathtub full of diamonds.
Well surprise they used real diamonds, no fakes. The Jewellery pieces
were on loan from celebrity jeweller Neil Lane. And have a value of
well over $10 million USD.
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