De Beers to Promote Less Generic Advertising

De Beers plans to spend less money on generic advertising, according to a comment by De Beers' CFO Stuart Brown at a recent diamond conference in London. “[De Beers'] marketing spend in the past year reached $220 million, primarily focused on the generic market,” Brown said. “This has proved to be a very successful strategy for both De Beers and the diamond industry as a whole; however, we are hoping to increase the proportion of marketing budget dedicated to our proprietary diamonds in the future.” Asked to elaborate, De Beers' Louise Prior told JCK, “As you know, our sales and marketing strategy, Supplier of Choice, remains the same—driving consumer demand for diamond jewelry, [so] nothing's changing here. What is changing, however … is the means by which we can do this most effectively, and a part of that could be with the Forevermark, where we have already seen trem
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