Signet Jewelers and De Beers target new generation
As the world’s major economies recover from the Covid-19 pandemic, diamonds are regaining their sparkle in the lives of enthusiasts.
In a significant move, Signet Jewelers, the world’s largest retailer of diamond jewelry, has announced a collaboration with De Beers Group to introduce the unique allure of natural diamonds to a new generation of U.S. couples, ahead of an anticipated 25% increase in engagements over the next three years.
Signet Jewelers, known for brands such as KAY Jewelers, Zales, Jared, Diamonds Direct, and Blue Nile, is teaming up with De Beers Group, the leading diamond company.
According to a statement issued last week, De Beers emphasised that this collaboration aims to boost diamond sales for years to come.
By leveraging Signet’s trusted brands, digital capabilities, and extensive store network alongside De Beers Group’s expertise in iconic campaigns, the partnership plans to highlight the value of natural diamonds. The new campaign will roll out fully in the third quarter, featuring online content, in-store experiences, and targeted marketing messages.
Signet’s research indicates a forthcoming upswing in proposals and engagements among U.S. Zillennials over the next 36 months, following a pandemic-induced lull.
This engagement boom is expected to be driven by couples from diverse racial and ethnic backgrounds and the LGBTQIA+ community.
To support consumer marketing activities, Signet’s 20 000 sales associates will receive training to educate customers on the unique attributes of natural diamonds, including their enduring emotional and financial value and the significant socioeconomic benefits they bring to the regions where they are discovered.
Additionally, natural diamond visual merchandising within Signet’s stores will be refreshed to appeal to pre-engagement consumers.
“Natural diamonds are the perfect symbols to celebrate life’s most meaningful moments – they are as unique, timeless, rare, and precious as the emotions they represent,” said De Beers Group CEO, Al Cook.
“We have the opportunity to connect a diverse new generation to the extraordinary attributes of natural diamonds. I am proud of the good that diamonds do for the people and places they come from. To maximise our reach and impact, new approaches and strategic collaborations are vital. Working with a leading retailer like Signet to share the story of natural diamonds with consumers is particularly exciting.”
Signet Jewelers CEO, Virginia C. Drosos, echoed Cook’s sentiments, emphasising the importance of trust and responsible sourcing in the jewelry industry.
“When choosing a piece of jewelry, it’s vital to have complete confidence in who you buy it from and how it was sourced. We stand by the ‘Signet Promise’ of upholding the integrity of the global diamond supply chain through responsible sourcing.”
De Beers further highlighted that all its diamonds are sourced in accordance with its Best Practice Principles and Building Forever sustainability framework, ensuring every diamond is responsibly sourced and contributes positively to the communities from which it originates.
This announcement follows a significant victory for natural diamonds over synthetic ones.
The United Kingdom Advertising Standards Authority recently ruled against misleading advertisements that marketed synthetic diamonds as natural.
Major diamond producers, including De Beers and Botswana’s Okavango Diamond Company, successfully challenged these misleading marketing practices.