De Beers Group and Signet Jewelers are launching a new campaign, “Worth the Wait,” to boost demand for mined diamonds, amid growing competition from man-made alternatives. The initiative focuses on appealing to younger consumers, particularly ‘Zillennials’—those born between 1993 and 1998—by emphasizing the evolving nature of modern relationships and love.
This demographic is seen as a key driver behind the rise of affordable lab-grown diamonds (LGDs), especially in North America. Companies like Pandora, which has embraced LGDs, have seen strong sales growth. Pandora even raised its annual sales forecast after a significant 87% jump in first-quarter LGD sales. In contrast, the mined diamond market has struggled, with prices dropping nearly 20% over the past year following a surge in 2022.
De Beers, the world’s largest diamond producer by value, has responded by cutting production for the past two years in response to slow demand. Similarly, Russian diamond miner Alrosa, the leading producer by volume, has scaled back output and ceased publishing sales data since early 2022.
The new “Worth the Wait” campaign marks a strategic shift for De Beers, which is looking to reestablish its position as a leading jewelry brand. It also represents the first significant collaboration between De Beers and Signet, announced recently.
To support this effort, Signet has provided extensive training for its 20,000 sales associates, helping them explain what makes mined diamonds unique. The campaign will be featured across social media, online platforms, and in Signet’s stores, including Jared, KAY, and Zales. The messaging focuses on real-life couples, exploring personal growth and relationship milestones that lead up to marriage. This narrative mirrors the journey of diamonds—from deep within the earth to their final polish—symbolizing the twists and turns of a modern love story.
Signet’s data suggests a surge in engagements is approaching, making this campaign particularly timely. The promotion taps into the significant moments that today’s couples face, such as cohabitation, financial merging, and relationship ups and downs. Signet’s collections, such as KAY’s “Milestones Natural Diamond Collection” and Jared’s bridal brand, Chosen, highlight the strength of love through various diamond pieces. Jared is also set to unveil a new collection, “UNSPOKEN,” featuring diamond jewelry in high-polish yellow and white gold.
“Like the journey of a diamond formed deep in the earth, true love is forged by fire. A natural diamond, like true love, is always worth the wait,” said Sandrine Conseiller, CEO of De Beers Brands.
De Beers is targeting annual core profits of $1.5 billion by 2028, though last year the company earned only $72 million. Historically, its profits have ranged between $500 million and $1.5 billion, reflecting the cyclical nature of the diamond industry.
As De Beers prepares to return to independent operations, following Anglo American’s decision to sell its 85% stake, the company seems poised to regain its historical status as a leader in the diamond industry.
Related topics:
- Shirley Bassey’s diamonds sell for an incredible amount at auction
- Astrea London Opens First Boutique at Fairmont Windsor Park
- Call for Clear Labels on Lab-Grown Products in India
