India’s Gem & Jewellery Export Promotion Council (GJEPC) and the Diamond Producers Association (DPA) have announced a contribution of $2 million to the DPA, in order to promote its effort to market diamonds, Gem Konnect reports.
Jean-Marc Lieberherr, CEO of the DPA, said: “It’s a demonstration of the leadership that the Indian industry has been showing. It’s a big deal and a big vote of confidence”. GJEPC vice chairperson Russell Mehta remarked: “The council is looking forward to this partnership flourishing. We believe that we need to expand the diamond jewelry market that has been stagnant. If we don’t expand the retail market, we will not get the growth in polished diamond prices or the growth in volume”.
In August, it was reported that the DPA is gearing up to launch a new, $5 million advertising campaign this October, tailored specifically for the Indian market. The Indian campaign will feature two ads for television and digital media, as well as a social media campaign. The October launch was chosen to maximize the all-important Diwali sales season and the end-of-year wedding season.
