WORTH THE WAIT

Shakespeare had it right when his character, Prince Hamlet uttered the immortal “To be or not to be?” While the play’s hero pondered ending his life—this oft repeated phrase has come to symbolize one’s indecision over taking a necessary next step.

What Will You Decide?

Are you facing a modern dilemma? Should you buy your future wife or spouse of a decade, a real diamond or gemstone—or—a fake one called an LGD (lab grown diamond)?

My view is that a real gift speaks volumes about your commitment. Your statement is that the ring you give is a seal— it’s a promise with a tangible symbol of your genuine and unconditional relationship.

So I ask, how can you sign the most important contract of your life with a fake seal? It may look great at first glance, but a closer inspection proves it to be worthless.

What’s Really Real

The sales pitch heavily promoted over the last few years claimed that genuine earth-mined diamonds and LGD are completely identical in their optical, physical, and chemical structure.

Well, that’s a bit like comparing da Vinci’s authentic early 16^th century Mona Lisa with a really good modern copy. Close, at first glance-- but still worthless.

Like those of us in the diamond trade, De Beers has been traveling a bumpy road for years, one of their own making. The insane affair of producing LGD under the name, The Lightbox nearly drove them to the brink of destruction.

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Regaining Their Senses

But lately, it appears De Beers is back on the right path after signing a deal with Signet Jewelers, the world’s largest diamond retailer, and the nation of Botswana. Once more we believe the diamond brand will shine brilliantly again.

Veteran diamond industry analyst Edahn Golan at Tenoris recently shared his insight on the positive upturn."Jewelry sales soar as American consumers return to purchasing jewelry. The return to an upward trend resulted in a 7.4% year-over-year rise in revenue. Not only revenue, but average spending per unit also kept growing, up 3.7% year over year."

Change the Message—See the Outcome

Finally, De Beers Group’s CEO Al Cook, who came onboard in 2023 made the right decision to restart its brand message by promoting natural diamonds with its campaign, WORTH THE WAIT.

The inspirational, motivational message was launched in collaboration with Signet Jewelers to connect with young consumers by highlighting the enduring appeal of natural diamonds.  The campaign celebrates the journey of relationships alongside the creation of natural diamonds, formed under immense pressure deep within the Earth. The message couldn’t be more clear—lasting relationships and the creation of natural diamonds both take time but are worth it.

The campaign spotlights resilience, self-worth, and patience—all themes aimed at resonating with multicultural and younger demographics. An accompanying 90-second video compares a diamond’s hypnotic creation to the personal growth and commitment of individuals searching for lasting love.

By emphasizing the natural journey and unique beauty of each diamond, a logical contrast is made between natural diamonds versus lab-grown alternatives. De Beers reinforces their value and authenticity — a message with obvious implications for modern couples.

A Bigger Piece of the Pie

To support this message, they journey from the mine in Botswana to the end user—who is a thoughtful, informed consumer.  The name of the game is cooperation between De Beers- Signet and Botswana. That country’s most valuable export, diamonds, reached nearly $8B US by 2022.

Newly elected president Duma Boko (November 1, 2024) of mineral-rich Botswana plans to make a historic modification to the pending agreement with De Beers. His vision focuses on cooperation and becoming connected to the downstream marketing straight through to the end user at Signet Jewelers 2,700 retail stores.

It appears that Boko’s vision is to further develop the diamond polishing industry and sell polished stones in this venture between Signet and De Beers. To that end, Boko is willing to make a compromise with future increases in comprehensive sales of rough and polished goods.

True, it’s been a very bumpy ride for our industry these past few years. The not-so-honest promotional message of LGD blurred the lines between marketing and truth. But it looks like De Beers is steering the trade back on track with a clear and genuine message to help diamond shoppers come to an informed decision. Natural diamonds and committed relationships are worth the wait.

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