Professional Jeweler Archive: De BeersŐ 2002 Sales Rise

April 2003

Diamonds/News


De Beers' 2002 Sales Rise

DTC plans to promote right hand rings heavily


Sales for De Beers’ Diamond Trading Co. reached $5.15 billion in 2002, up 15.7% from 2001. Global diamond jewelry sales held up, with preliminary figures indicating about a 3% gain over the previous year.

DTC says reports from the trade suggest jewelry sales outperformed general retail sales, and diamond jewelry outperformed the general jewelry category over the Thanksgiving and Christmas season in the U.S. DTC attributes the strong showing to the increase in quality ad spending by the diamond trade, the development of multiple brands and innovative marketing.

Right-Hand Ring Push

DTC also confirmed it will launch a marketing initiative promoting right-hand rings, says Sally Morrison, director of the Diamond Information Center in New York City. She says DTC is contacting key members of the trade, some of whom tell Professional Jeweler they welcome the effort as a way to drive sales, just as earlier DTC promotions sparked sales of three-stone jewelry

Right-hand rings will get a push from De Beers’ DTC in 2003: This photo from Harper’s Bazaar shows four examples, from top: a pink marquise diamond ring from Graff, a starburst-cut yellow diamond ring from Bulgari, an oval diamond ring from the Vivid Collection and a marquise diamond ring from Cartier.

Copyright © 2003 by Bond Communications