The DTC’s New New Direction

Seven years ago De Beers unveiled what is now called Supplier of Choice 1, and its executives heralded the birth of a new diamond industry. They talked about how a handful of brands would dominate each market. At a 2003 conference in Antwerp, Belgium, Diamond Trading Company executive Stephen Lussier said the industry had “begun a marketing revolution—and that revolution is irreversible.” Not so fast. Many believe that De Beers' new strategy, Supplier of Choice 2, won't emphasize branding and marketing as much as its predecessor. Officially, the DTC denies there has been a change. “Marketing is absolutely intrinsic to SoC,” managing director VardaShine tells JCK. However, the definition seems to have broadened. “By marketing I don't just mean the ability to produce beautiful advertisements,” Shine explains. “I mean the whole management philosophy of structuring your b

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