How did a diamond became forever?
The answer lies in the brilliant, multifaceted, marketing strategy designed and executed by the ad agency N.W. Ayer for their client De Beers.
Anglo American is the parent company of DeBeers. Stung by the drop in commodity prices, Anglo American announced a “radical and aggressive” restructuring Tuesday that includes job cuts at De Beers amid scaled-back diamond production and…
Meet Alrosa, Russia’s major diamond mining company. Alrosa has been striving for many years to become the world’s #1 diamond producer and it looks like they are there. They are producing the highest volume of diamonds…
Anglo American, the diamond miner and marketer, saw a sales increase of 11 percent over the last year from $6.40 billion to $7.11 billion, with rough diamond sales up 12 percent to $6.5 billion. The average realized diamond prices held steady at $198 per carat, driven by a 5 percent higher average rough price index but offset by a marginally lower product mix.
The luxury market is still going strong according to LVMH! Bulgari recorded strong sales in 2014 while the watch brands owned by LVMH struggled due to “cautious purchasing” among retailers, the luxury goods conglomerate reported…
The Oppenheimer family (De Beers) and Laurence Graff, from Graff Diamonds, still rank among the world’s richest while the founder of Firestart Diamonds is a “new billionaire” according to the Forbes’ annual list of the world’s wealthiest people.
I promised you another story about the history of De Beers so here it is!
De Beers….that name is synonymous with diamonds. Books, movies and James Bond have had a field day with the real or imagined De Beers. What a spectacular history! De Beers started as a struggling mining company in the late 1800s. Through a focused vision of the future and close monitoring of their product at every step along the way, De Beers morphed into a global monopoly. It really happened pretty quickly. How did they do it? Just like I said, by controlling every step of the diamond’s journey from the mine shaft to the fashionable showroom floor. I don’t think most people realize that De Beers had always been a privately held business. The family behind De Beers, the Oppenheimer family, has always understood the power and attraction of the diamond.
It is history in the making, big, big news in the jewelry world. This week marks De Beers’ inaugural sight in Gaborone, Botswana following the relocation of its sales activities from London to Botswana, a move that has been two years in the making. In September of 2011, De Beers announced that it would be moving its rough stone sorting and trading division 5,400 miles south to Botswana when it signed a 10 year sales agreement with the Botswana government. The deal included moving professionals, skills, equipment and technology from London. Rough stone sorting or aggregation operations have been based in the British capital for nearly 80 years, but from now on this will be done in a new $35 million facility in Gaborone.