Diamond Producers Association’s Real is Rare to be Launched in India

Retail and Consumer Confidence
24/04/2017 11:03

The Diamond Producers Association (DPA) announced their intention to spur demand in the third largest diamond market, India, by launching their “Real is Rare” slogan in September. The DPA - an international alliance of the world’s leading diamond mining companies whose mission is to protect and promote the integrity and reputation of diamonds, and the diamond industry - initially launched its “Real is Rare” campaign in the U.S. in 2016.

In an interview with Reuters, DPA CEO Jean-Marc Lieberherr said there was an early indication that the slogan was effective and diamonds had captured the interest of the millennial generation, which the DPA's research found wants "fewer and more meaningful things". The international campaign will be tailored to each targeted market, with the DPA’s budget expected to increase significantly from the $12 million in the previous year; at this time Lieberherr was not able to disclose the precise figure. Following the selection of the Indian market, thorough research was done regarding the culture of diamond buying, which slowed following Prime Minister Modi’s demonetization.

Following India, the DPA intends to launch the campaign in China in April 2018, as it is the second largest diamond market after the United States. The DPA is seeking to recruit a Chinese advertising agency for this concept. According to De Beers’s data, demand rose slightly last year driven by good growth in the U.S., which accounts for nearly 45% of global diamond sales; China represents 14% and India 7%.

Anglo American, one of the founders of the DPA, has placed diamonds at the heart of its mining portfolio, saying they provide a balance because they hold their value as a luxury good even when basic commodities crash.