Advertising Spend on Diamonds and Anant – India Diamond Jewellery Promotion
Over the last century, De Beers has been highly successful in marketing diamonds and stimulating consumer demand. The immortal line, ‘A Diamond is Forever’ was coined by a young copywriter, Frances Gerety. The tag line has been immortalized ever since and in the year 2000, Advertising Age magazine named "A Diamond Is Forever" the best advertising slogan of the twentieth century.
However, as the share of diamond mining of De Beers gradually dropped to 40% of total worldwide production. The company has found it difficult to be the sole advertiser of diamonds. Not to say, that other mining companies, manufacturers and retailers have not played a role in advertising diamonds.
The share of De Beers in advertising campaigns has gradually reduced from an estimated $200 million a year to $70 million in 2008. It expects to spend 20% more in 2009.
According to the provisional figures received from the Gem and Jewellery Export Promotion Council, the total export of cut and polished diamonds for the month of July 2009 is US $1239 million (Rs 5951 crores) as compared to US $1325 million (Rs 5658 crores) last year, declining by around 7 percent.
The inaugural edition of the two-day event, India Diamond & Colourstone Show (IDCS), got underway from August 4 to 5, 2009, at Mumbai’s Renaissance Hotel. The Show was inaugurated by the chief guest Shri Kirtilal K. Doshi, chairman, Shrenuj and Co, and doyen of the Indian gem and jewellery industry. Present on the occasion were many dignitaries from the industry and the Gem and Jewellery Export Promotion Council (GJEPC) chairman, Vasant Mehta, executive director, Sabyasachi Ray, vice chairman, Rajiv Jain and Bakul Mehta, convener-Diamond Panel.
The 26th edition of India International Jewellery Show (IIJS) 2009 was inaugurated by honorable chief minister of Maharashtra, Shri Ashok Shankarrao Chavan at NSE Ground, Goregaon, Mumbai. The Show was slated from 6 to 10 August, 2009, and had 1,553 international as well as domestic stalls comprising loose stones, machinery and jewellery. There were around 18,500 domestic and 1,000 pre-registered overseas visitors. There were business delegates from countries like China, Iran, Dubai, Turkey, Italy and Belgium.
In his welcome speech, Mr. Vasant Mehta, chairman, the Gem and Jewellery Export Promotion Council (GJEPC), said: "IIJS is an important show not only in Asia but in the entire world.
India Diamond Jewellery Promotion (IDJP) To Get Going
Bollywood starlet Sonam Kapoor signed as brand ambassador
With the objective of promoting the domestic sector and strengthening India's share in the international market, the Gem and Jewellery Export Promotion Council (GJEPC) has initiated the India Diamond Jewellery Promotion (IDJP). It is based on the concept of single line of diamond jewellery under the brand name ‘Anant’. For this diamond-studded jewellery collection, Bollywood starlet Sonam Kapoor was signed in as the brand ambassador during this year’s IIJS.
India International Jewellery Show (IIJS) is rightly perceived as one of Asia’s biggest jewellery Show. This year’s Show provided all the exhibitors and participants a niche platform to showcase their unique and glorious creations and an incredible opportunity to network, and forge business relationships. Despite the economic slowdown the Show participation was overwhelming with a turnout of 24,050 domestic visitors, 1,750 international visitors and delegates. It was spread across 46,000 square meters of space and hosted 704 exhibitors, 1,553 stalls displaying jewellery, loose stones, machinery and allied sections.
IIJS helped its participants to showcase their versatility in the trade and provided a unique opportunity to form winning partnerships around the world. We received tremendous response from both the international as well as domestic visitors. It provided the much-needed boost to the gem and jewellery industry that will bring about a remarkable improvement in the sector from here on.
The last 8-10 months have been crucial for the industry which was evident from the downturn in the overall economic situation in the market. While demand in the US and European market continues to remain sluggish, the Chinese presence and domestic visitor’s buying fervor at the show was extremely encouraging. I am very happy with the response we got from the Show and the gem and jewellery industry certainly seems more upbeat and positive after a successful IIJS.
