De Beers and GJEPC to Promote Natural Diamonds Together
January 07, 25
(IDEX Online) - De Beers and GJEPC today (7 January) announced the launch of a strategic collaboration to simplify the sourcing, marketing, and sale of natural diamond jewelry in India.
The new Indian Natural Diamond Retailers Alliance (INDRA) will give retailers a range of "tools that go beyond the conventional," they say in a joint statement.
They'll include leveraging Artificial Intelligence to create customized retailer campaigns, multi-lingual marketing assets and in-depth natural diamond jewelry training in local languages.
The announcement was made at the IIJS show in Mumbai, organized by the 10,500-member GJEPC (Gem and Jewellery Export Promotion Council). Members will be able to enrol later this month.
Last August De Beers said it would be working with Tanishq, the Indian jewelry retailer with almost 500 outlets, on a long-term strategic collaboration to "to enhance consumer education, interest and confidence".
India is now the world's second biggest market for diamonds and jewelry. It is forecast to grow by over 40 per cent by 2030, according to De Beers, but diamond acquisition rates in India are well below those in mature markets such as the US.
Sandrine Conseiller, CEO of De Beers Brands, said: "Presently in the Indian jewellery retail sector, the penetration of natural diamonds stands at only around 10 per cent which is well below the rate seen in mature jewellery markets such as the US.
"Through this new collaboration with the GJEPC we will help unlock this growing opportunity for increased consumer demand for all types of natural diamond jewellery, including bridal, everyday wear and entry level pieces."
Vipul Shah, GJEPC chairman, said: "This initiative reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand, all while highlighting the timeless value of natural diamonds."
Pic courtesy De Beers.