Diamonds that tell a good story are next - Over the last several years the concept of branding a diamond has had many highs and even lower lows. Almost every new diamond brand that solely relies on an extra facet or a unique shape of diamond has a really hard time gaining traction. I speculate it is because most of the general public thinks its just another gimmick to sell diamonds and today’s consumer is very leery of any unsubstantiated claims in regard to extra facets yielding “improved” light performance. It seems the only diamond brand that has taken hold anywhere these days is Hearts on Fire. They really do have a nice product but that is not what is making the sales; it is the impassioned presentations of well trained sales associates that make the difference. They are great at selling the sizzle. Hearts on Fire retailers realize they are in the emotions business not necessarily the diamond business. Hearts on fire seems to be the victor on part 1 of the branding game.
Diamond Branding Part 2
While many retailers have given up on branding diamonds, some of the largest diamond manufacturers in the world are quietly setting up shop to source and cut diamonds in places like Namibia and Botswana. I believe this is going to be the next step in branding diamonds. Demand wont be created by an extra facet or a fancy name, it will be created by knowing that diamonds that have been cut by the locals in Botswana or Namibia have helped to empower people. The provenance of these diamonds are better than any story that can be created abut how a diamond shines or how many extra facets it has. It’s time for this industry to be proactive in its marketing and be proud of the good things that are being done and not always playing defense. I don’t know why but jewelers seem to be afraid to do this.
Posted under Botswana Diamonds
This post was written by on August 22, 2008
