Surat: Surat’s diamond industry is all set to regain its sparkle with Diamond Producers Association (DPA), a consortium formed by world’s leading diamond miners, expected to infuse huge amount of funds in September for its upcoming generic diamond marketing campaign, reports The Times of India.
The consortium consists of De Beers, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamonds Limited and Gem Diamonds Limited and it supplies around 75 per cent of rough diamonds mined every year worth $14 billion. It has raised a corpus of $60million to take the marketing activity further. DPA’s generic marketing campaign, set to begin in September in India, will focus on the millennials. The campaign has already started in the United States to attract the millennials towards the diamond jewellery.
The marketing focus is on changing the age-old tagline ‘diamonds are a girl’s best friend’ with ‘diamonds are millennials’ best friend. ‘India is going to be the focus country as nearly 60 per cent of its 1.2 billion population as per 2011 census are under the age of 30 years-millennials. Surat, which processes 90 per cent of diamonds, is upbeat over the development. Many diamantaires talked about the marketing blitzkrieg (diamond is forever) by De Beers a few years ago.
Diamond analyst Aniruddha Lidbide told TOI, “De Beers’ marketing campaign a few years ago had earned rich dividends for Surti diamantaires. Now, one has to just imagine the level of marketing when world’s top diamond miners get together.