The President of the World Federation of Diamond Bourses (WFDB), Yoram Dvash, is calling on the diamond industry to invest in a new, large-scale campaign to promote natural diamonds.
In an open letter to the industry, Dvash noted that the diamond sector is grappling with a sharp decline in demand, especially for natural diamonds, due to global economic challenges and the increased promotion of lab diamonds at the retail level.
Dvash explained that one underlying cause of this crisis is the absence of major, generic campaigns for natural diamonds in recent decades. Since De Beers ceased its iconic “A Diamond is Forever” campaign, an entire generation of consumers has come of age without exposure to positive messaging about natural diamonds and the unique qualities they represent.
In his call to action, Dvash urged all industry members – from producing countries and diamond manufacturers to traders, jewelry designers, and retailers – to contribute to this collective effort. He emphasized the need for a coordinated, long-term marketing strategy to keep natural diamonds visible to the public and sustain demand over time.
“We must work together to secure the future of the natural diamond industry,” Dvash concluded, announcing that the WFDB will initiate an industry-wide discussion in the coming weeks.
