Lucara Diamond CEO on Generic Diamond Marketing

Market Analysis
03/12/2015 23:06

I don’t think it will take much marketing to see a lot of those [smaller] goods flow into consumers’ hands...Generic marketing has slowed down, so diamonds are not on the forefront of people’s minds anymore, and therefore they default into [buying] other things. It’s really [about] targeting those people that will be spending up to $1,000 on a piece of jewelry, where that money’s now flowing somewhere else. How do we bring that money back to buying diamonds? Only when that happens will you start to see polished flowing out of the pipeline, liquidity, buying of rough and a clearing out of the entire pipeline. Otherwise we’ve got this glut in two areas - polished and rough, which is not good.

- William Lamb, CEO of Lucara Diamond Corp., on generic diamond marketing and current diamond issues