“Diamonds are forever…they are also affordable, and for everyday use” is the slogan being used to help reach a larger segment of the population and increase regional sales. Gulf News reported that De Beers, the diamond cartel, would spend 11 million dirhams on a new add campaign aimed at the Gulf markets.
De Beers, earlier this year, relocated its Arab Gulf marketing base from London to Dubai in order to corner the regional market. With permanent representation in the Arab Gulf, they expect that sales will sky-rocket.
Regional growth potential is behind this campaign. George Saba, head of group marketing, told Gulf News that although “The Gulf is steeped in the tradition of gold jewelry,” they do expect a 10 percent growth this year and a 15-20 percent growth next year. Saba also said that “74 percent of potential customers believe diamonds are just too expensive for them.”
The ad campaign is trying to dispel that myth and lure customers into the diamond market by selling the idea that they are affordable, with a central theme of “everyday diamonds”. Preliminary estimated prices on a stylish piece set in 18-carat gold will sell for Dh 3000. — (Albawaba-MEBG)
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