Diamonds, Leopards, and Spots

With half of a retail jeweler's business concentrated in diamond merchandise, any news from De Beers on a change in diamond marketing direction creates a great deal of discussion and speculation. Retailers and manufacturers of diamond jewelry-as well as those in the diamond supply chain-wonder what's next. Wouldn't it have been fun to be there to hear what the consultants hired by De Beers had to say about how the diamond business is conducted and how it should be changed? The notion of diamond sellers spending 9% of revenues on consumer marketing activities would have been a real showstopper. Let's see, margins at every level within the supply side of the jewelry industry are thin and getting thinner, and the consultants are recommending essentially a doubling or more of marketing expenditures. The consultants who have made a study of the business within the past few months have con

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