De Beers is the global leader in diamond mining and retailing. It advocates natural diamonds through an educational campaign. It collaborates with Tanishq in India. It proposes to roll-out Tanishq stores in different cities to have a direct outreach with the customers.
De Beers have focused on the four Cs of diamonds: cut, clarity, colour and carat. There are other properties of diamonds which are equally important — brilliance, light performance, fluorescence etc. Through Tanishq, the target is to engage over 1 million customers in next one and half to two years.
They will demonstrate the authenticity of natural diamonds using state-of-the-art equipment developed by De Beers across different cities.
Tanishq will be involved in above-the-line promotion. De Beers will concentrate on content developed and curated for digital media and social media.
To Indians, diamonds have an emotional connect. They are a cultural investment. They are not treated as a luxury. Natural diamonds are facing competition with lab-grown diamonds (LGDs) which are indistinguishable from natural diamonds. There is a surge of demand for LGDs on account of their affordability and sustainability. LGDs are created by mimicking the under the earth diamond formation environment. They are physically and chemically similar to natural diamonds.
As against the market for natural diamonds of $85 billion, the LGD market is estimated to be at $29 billion by 2025. It poses a challenge to the natural diamond market.
It is necessary for consumers to make informed choice. Whether lab-grown or natural, a diamond must be certified to possess its qualities.
Natural diamonds have a certain allure due to their rarity and historical significance.