Rio Tinto launched a strategic partnership with leading retailer Chow Tai Fook to develop a fashion jewelry category separate from the existing bridal market in China, combining its diamond production with the retailer’s expertise in the design, manufacture and sale of diamond jewelry in China.
Speaking at the 2010 China Diamond Conference in Shanghai, Jean-Marc Lieberherr, the Rio Tinto general manager for sales and marketing, highlighted the fact that China has entered a fast-growth stage thanks to its “emerging middle-class demographic,” which he said will change the face of the diamond jewelry market.
Gemesis to Market Lab-Created Diamonds
Gemesis Diamond Company is in the final stages of developing its own jewelry line, designed especially for its lab-created gems. The jewelry will be sold at both an ecommerce website that will launch in the coming months and through limited retailer partnerships. Gemesis is also preparing high-quality colorless diamonds as part of its product portfolio.
De Beers Focuses on Forevermark
Moving into 2011, De Beers is making some strategic changes in its U.S. marketing. Gone are the days of generic diamond advertising, as the firm now moves its focus to its Forevermark diamond products. For starters, the Diamond Promotion Service and Diamond Information Center will cease to exist. However, advertising agency J.Walter Thompson will continue to provide creative geared to promoting the Forevermark.
An office for Forevermark U.S., Inc., a subsidiary of De Beers Global Forevermark, has been established in Stamford, Connecticut. That office will be headed by Charles Stanley, who previously worked for De Beers both in London and the U.S. He has also worked for Harry Winston. Going forward, all marketing, publicity and trade services will be focused on the Forevermark. The company is still in the exploratory stages of the Forevermark and how it will be promoted in the U.S., so there are no details available on what the activities will be. For now, the website, adiamondisforever.com, will continue to operate.
FTC Revises Jewelry Platinum Guides
The Federal Trade Commission (FTC) issued two new publications regarding platinum, one for consumers, “Going Platinum: What to Look for When Buying Platinum Jewelry” and one for the business community, “Advertising Platinum Jewelry.” The revised platinum sections of these guides reflect the use of base metal alloys in platinum jewelry, as well as inform consumers that in recent years, some manufacturers have been using large percentages of base metals, such as copper and cobalt, in platinum jewelry products.
The revised guides also address how to mark and describe “platinum/base metal alloys,” which contain between 50 percent and 85 percent platinum.
Both are available on the commission’s website at www.ftc.gov/opa/2010/12/platinemguides.shtm.
Article from the Rapaport Magazine - January 2011. To subscribe click here.