DTC: Go Out There and Think About It

At a seminar entitled Diamond Marketing: A Bold New World at the BASELWORLD 2004 watch and jewelry exhibition currently taking place, diamond industry retailers received advice from industry experts, including two from the DTC,  on marketing their businesses.

A retailer, a diamond dealer, a market trends researcher and a couple of DTC’s own marketing people set out to show from a variety of angles what can be done to set a diamond jewelry operation on a successful path and what opportunities lay ahead.

Jonathan Kendall, DTC’s International and Trade Marketing Group Director, started the seminar saying he wanted to stimulate thinking in the luxury goods business.

“It is an exciting time as there are huge opportunities for us as an industry to work together more effectively to ensure greater success,” he told the audience.

Michael Wainwright of UK retail chain Boodle & Dunthorne detailed with great humor how, with some help from the DTC, the 200-year-old establishment turned around its approach to store design, window display and advertising to increase revenue.

Next, Dominique Assenat of trend research firm Peclers showed which design and packaging trends are ahead. “Luxury convention,” she said, “changed the convention of buying,” showing as an example blister packaged diamond studded watches, an unthinkable approach for many firms.

The research showed that nature is inspiring designs and a renewed interest in space exploration is driving cosmic inspired designs. The new hot items, she believes, will be “wandering clips” – brooches attached anywhere – and shifted necklaces, necklaces worn backwards with bare back tops and shoulder jewelry.

Dominic Brand, DTC’s Regional Marketing Director, followed with information on DTC driven marketing programs offered to help diamond jewelers.

Rosy Blue’s Dilip Mehta told of the company’s approach of downstreaming – partnering with an established luxury name – Vera Wang.

The seminar was concluded by DTC’s Jonathan Pudney, Director of Brand Communications, who emphasized that without the consumer having confidence in diamonds, including full disclosure of treatments, the market will lose out to alternatives.