The Gem and Jewellery Export Promotion Council (GJEPC) today said it has joined hands with De Beers to revive demand for diamonds. GJEPC and the world’s leading diamond company are launching a campaign to achieve the goal.
“Looking at the slow demand for diamond jewellery, I am glad that along with De Beers, we have been able to take the first step in reviving the demand for diamond and diamond jewellery,” GJEPC Chairman Praveenshankar Pandya said in a release here. “Through this campaign, we expect to bring back the excitement back to the category and increase the consumer awareness about diamonds and their prices,” Pandya said.
The industry witnessed a difficult phase during the last 2-3 years due to competitive products and the global economic slowdown has further resulted in low demand for the diamond jewellery in the consumer segment, he added. “We are working closely with the GJEPC to develop a category-based marketing campaign over the key selling season in India.
India continues to be one of the top performing markets for diamond consumption.
“It is thus imperative to protect and grow diamond equity and this will require a sharp focus on consumer confidence and consumer demand,” De Beers Group Executive Vice -President, Marketing and Forevermark CEO Stephen Lussier said. The campaign, which is expected to begin from October 10, will run for three months.