Forevermark's Lussier: De Beers' to Keep Slogan Forever, Synthetics and Other Issues

Finance and Trade
04/06/2016 09:10

Forevermark CEO Stephen Lussier, who is also Chairman of the Diamond Producers Association (DPA), says De Beers won't be making available the famous 'A Diamond Is Forever' slogan for the DPA's use. Its marketing team is working hard on its own strong concepts, he says. In a wide-ranging interview with JCK's Rob Bates, Lussier also speaks on the battle to win over millennials, saying "the concept of timelessness is relevant" to them and that the permanence of diamonds and their enduring value is attractive when set against the impermanence of their relationships which are largely digital, not face-to-face and are looking for more depth in life.

Lussier also talks about increasing the DPA's initial $6 million budget. "We are putting significantly more money into the fourth quarter. And we have the aspiration to grow that going forward. We are just at the beginning." He also speaks about synthetic diamonds and says consumers will understand that they are not a store of value and will be worth less in the future than they paid for them, the work of De Beers' Element 6 subsidiary and that he doesn't believe that it is interested in producing synthetic gems, as well as the work of Forevemark.