Who Will Promote Diamonds?

It's just a microscopic imprint on a diamond—one 1/500 the thickness of a human hair. But it could have a decidedly outsized impact. It's called the Forevermark, and whether or not it's the future of the diamond industry, it's definitely seen as the future of De Beers. For 100 years De Beers has supported the diamond market with its generic diamond advertising—first for diamonds themselves, and then for its “beacons,” like the three-stone ring and Journey diamond jewelry. None of this came cheap—the company spent more than $1 billion on U.S. advertising between 1980 and 2000, according to court documents. Yet with its market share around 40 percent, executives say they no longer want to advertise everyone else's diamonds. And recently it's been reallocating its money and putting it where its mouth is. Earlier this year, De Beers announced that its entire marketing budget
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