De Beers hopes P2bn marketing campaign will lift slump

The budget, announced this week, is the highest the diamond giant has ever spent in any year in the last decade. While De Beers states the budget as being for the entire year, the lion’s share of the marketing spend is typically focused on the last quarter of the year, targeting the US Thanksgiving, Christmas, the Chinese New Year and India’s wedding season.

The three countries are the major markets for polished diamonds and jewellery and those holidays are the peak period for sales.