DPA Marketing Budget Expected To Be $70M in 2018

Retail and Consumer Confidence
25/01/2018 13:25

According to an interview with Diamond Producers Association (DPA) CEO Jean-Marc Lieberherr, the Antwerp-based category marketing organization set up by seven leading diamond mining companies (ALROSA, De Beers, Dominion Diamond, Gem Diamonds, Lucara Diamond, Petra Diamonds and Rio Tinto) in 2015 expects to have $70 million to spend in 2018, up from $57 million in 2017. Having focused mainly on the U.S. market to this point, the fresh funds will facilitate the expansion of the DPA's multichannel advertising, PR and digital campaigns, as well as enabling them to continue rolling out the campaign in India - which it launched in November 2017. The association has already opened an office in India, and is forming plans to enter the Chinese market.

Speaking with Rapaport News, CEO Lieberherr said, “The approach I’ve taken with the DPA is let’s start small, let’s demonstrate how much value we’re creating, let’s build our capabilities, and as we do, let’s increase our investment ... Our role is not to drive sales during holiday seasons — that’s what brands and retailers do. Our role is to create fertile, emotional territory through [an] ongoing presence and an ongoing dialogue with consumers throughout the year. All this while we build our organization, we build our capabilities. We’re not here for the next one, two, three years, we’re here for the next couple of decades to really have an impact on the industry.”