Tanishq and De Beers have a tricky activity forward. The Indian jewelry retailer has joined forces with De Beers Group, a worldwide chief in diamond mining and retailing, to champion pure diamonds via an academic marketing campaign. By in depth direct and in-person buyer outreach in a phased city-wise rollout via Tanishq’s shops, this collaboration goals to achieve each nook of the nation over the following 18-20 months.
“The plan is to advertise a greater understanding of the 4 Cs of diamonds in addition to properties past that, akin to brilliance, mild efficiency, fluorescence and many others. The goal is to interact over 1 million clients within the subsequent 18-20 months. There might be an intensive demonstration on the authenticity of pure diamonds with state-of-the-art, simple-to-use gear developed by De Beers throughout a number of catchments and cities,” reveals Ajoy Chawla, CEO, Jewelry Division, Titan.
If Tanishq plans to roll out a 360-degree above-the-line advertising and marketing marketing campaign to fan the latent want for Tanishq diamonds, De Beers hopes to interact potential clients with content material developed and curated for digital and social channels. “In India, diamonds will not be only a luxurious; they’re an emotional and cultural funding, usually marking life’s most essential moments. Nevertheless, the rise of LGDs, which are sometimes indistinguishable from pure diamonds to the bare eye, has created confusion amongst consumers,” provides Chawla, whereas emphasising the significance of shopper training on this house.
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In response to a spokesperson from the Gem & Jewelry Export Promotion Council (GJEPC), “As the worth hole between pure diamonds and lab-grown diamonds continues to widen, it turns into much more important that buyers are conscious of the distinctions.”
Developments again residence mirror world demand for LGD. The pure diamond market is at the moment valued at round $85 billion, whereas the LGD market is anticipated to achieve $29 billion by 2025. The market share of LGDs in India is far smaller in comparison with pure diamonds, however the problem posed by the section is troublesome to disregard. Sandrine Conseiller, CEO of De Beers Manufacturers, says, “Our goal is to make sure that shoppers are outfitted with the appropriate info to make an knowledgeable alternative that resonates with them each emotionally and ethically.”
Whether or not it’s lab-grown or pure, a diamond should meet stringent certification standards, together with the 4Cs: minimize, readability, color, and carat. Making certain that the buyer is shopping for a completely licensed stone is paramount. “Customers at this time will not be simply involved concerning the aesthetic worth of the diamond but in addition how it’s sourced, whether or not it’s mined sustainably, and the moral issues behind it,” Chawla causes.
Whereas there’s a rising demand for transparency, educating shoppers concerning the variations between pure and lab-grown diamonds is just not with out its challenges. Praveen Govindu, accomplice at Deloitte India, defined the problem in getting the message throughout in such a aggressive market. “Whereas lab-grown diamonds are sometimes marketed as extra environmentally pleasant and inexpensive, pure diamonds maintain a sure attract resulting from their rarity and historic significance. Our function, and the function of the jewelry business, is to make these distinctions clearer,” he says.
This training is essential for jewellers as effectively. “Retailers might want to deal with which section of the market they need to goal. Some will cater completely to pure diamonds, whereas others might diversify into lab-grown to enchantment to a wider viewers,” Govindu provides.
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