Since 1888, De Beers has been the world’s leading colonizer of diamonds. The diamond of perfection, guiding individuals on their particular trip of discovery. Employing nature’s finest work of art, De Beers hand-elects the rarest natural diamonds, creating distinctive designs, each as unique as its wear and tear.
De Beers Group is a Multinational company that specializes in diamond mining diamond sourcing, diamond retail, diamond trading, and artificial diamond manufacturing sectors. The company is active in open-hole, large-scale alluvial and littoral mining. De Beers controls 35 countries and extracts place in Namibia, Botswana, South Africa, Australia, and Canada.
The Making
From its commencement in 1888 until the launch of the 21st century, De Beers controlled 80 to 85 percent of rough diamond distribution and was considered a monopoly. Competition has since disassembled the complete monopoly; the DeBeers Group now sells roughly 29.5 percent of the world’s rough diamond product value through its global reach and transaction deals with businesses.
The company was founded in 1888 by British businessman Cecil Rhodes who was financed by the South African diamond mogul Alfred Beit and the
London-based N. M. Rothschild & Sons In 1926, Ernest Oppenheimera German emigrant to Britain and, latterly, South Africa, who had before
innovated the diamond manufacturing and mining company Anglo American with American financier J.P. Morgan was tagged to the board of De Beers. He erected and consolidated the company’s global monopoly over the diamond industry until his death in 1957.
During this time, he was involved in a number of difficulties, including the price of fixing and trusting Gesture and was indicted for not releasing artificial diamonds for the U.S. war troubles during World War II.
In 2011, Anglo American took control of De Beers after buying the Oppenheimers’ family stake of 40 for US$5.1 billion (£3.2 billion) and adding its
stake to 85 percent, ending 80-year-old Oppenheimer’s control of the company.
Marketing Strategy :
De Beers successfully announced diamonds to manipulate consumer demand. The most effective marketing strategy has been the marketing of diamonds as a symbol of love and peace. A copywriter working for N.W. Ayer & Son, Frances Gerety (1916–1999) chased the notorious advertising watchword, “A Diamond Is Forever.” is forever in 1947.
In 2000, Advertising Age magazine published “A Diamond is Forever was the stylish advertising watchword of the 20th century. The watchword may have inspired the James Bond book, film, and song title “Diamonds Are Forever.”
ever.
Other successful juggernauts include the “eternity ring” (meant as a symbol of continuing affection and appreciation), the “trio ring” (meant to represent the history, present, and future of a relationship) and the right hand ring (meant to be bought and worn by women as a symbol of independence.)
De Beers ran TV announcements featuring outlines of people wearing diamonds, set to the music of “Palladio” by Karl Jenkins. The crusade, named
“Murk and Lights" first ran in the first quarter of 1The book. The was wriwhimsically an ally inspire a compendium reader, Diamond Music, released in 1996, which features the Palladio suite. A 2010 commercial for Verizon Wireless imitated the De Beers spots.
Forevermark
Forevermark was inaugurated in 2008 as one of the duplet diamond brands from The De Beers Group of Companies.
The Forevermark diamond is inscribed with a pledge that it’s beautiful, rare, and responsibly sourced.
Forevermark diamonds are inscribed with an icon and unique identification number, albeit invisibly to the naked eye, the Forevermark Necrology is 1/20 of a micron deep.
The slogan was literally perfect.
It creates a feeling of eternal love, which is definitely a romantic idea that someone soon to be engaged wants to create.
Perhaps more importantly, it also curbs the urge to sell the diamond.
If it’s actually forever, you should never sell it! Resales destroy prices and limit the effect of De Beers’ supply controls, so by limiting them, De Beers naturally created a new mechanism to keep prices stable.
The De Beers story is a fascinating modern case study of the potential effects of marketing on individuals and society. Humans are storytelling creatures—we are naturally drawn to great stories and great storytellers. This is both a feature and a flaw.
Today, De Beers is far less efficient than it was in the mid-20th century, but its legacy and influence on the diamond industry remain far-reaching.
A widespread cultural reaction against the dark side of the diamond industry—its roots in colonialism and continued violence in its unregulated corners—led to the emergence of alternatives. Maybe diamonds aren’t forever?
Diamond engagement rings are certainly the norm in most Western cultures, but the country can change.
And you can be sure De Beers won’t go down without a fight.
Industry: mining and trading of diamonds
Founded in 1888, 134 years ago
Founder Cecil Rhodes
Headquarters: London, England, UK
Area served: worldwide
Key people Mark Cutifani (Chairman), Bruce Cleaver (CEO)
Products Diamonds
Services Diamond mining and marketing
Revenue Increase: US$6.08 billion (2018)
Owners: Anglo American plc (85%)
