Love does sell.
Just weeks after attempting to deromanticize diamonds with a “platonic” diamond campaign, De Beers has reintroduced its hallmark “A Diamond Is Forever” campaign. It turns out that, as difficult as it is to sell engagement rings, the diamond industry’s best shot is still a full-throttle promotion of love.
I wrote last month about how platonic diamonds were a bad idea:
There’s an innate demand for love. It’s lofty, and perhaps too romantic, to assume that diamond companies can convince people to fall more in love with the idea of love. But it’s not impossible. The industry successfully sold couples on the idea that a rock — no matter how small — is the ultimate symbol of commitment. There’s a reason that previous campaigns to deromanticize diamonds didn’t work. Let’s hope commitment still sells, and the “platonic” diamond fades fast.
De Beers’s holiday campaign will cost $20 million and target America and China, the diamond industry’s biggest consumer markets. Diamond companies have been wrestling with how best to revive the flagging market, but the “platonic” rebrand, as well as campaigns to convince women to buy diamonds for themselves, have all failed so far.
“Natural diamonds have remained icons of love for centuries, and De Beers advertising has remained iconic over the decades. We’re proud to build on this tradition by reviving and refreshing one of our most successful campaigns,” De Beers CEO Al Cook said. “By investing ahead of the holiday season, we aim to support the industry, drive consumer demand and underline our confidence in the future of the diamond dream.”
It’s good news that love is still the most profitable venture.