De Beers and CTF Join Forces for a Game-Changing Campaign in China

August 30, 2024

In a strategic move set to reshape the diamond industry, De Beers and Chow Tai Fook (CTF) are teaming up for an $8-10 million marketing campaign aimed squarely at the Chinese market. This collaboration between two of the biggest names in the diamond world is poised to be a game-changer, targeting the revival of demand for natural diamonds among discerning Chinese consumers.

The significance of this joint venture cannot be overstated. De Beers, with its unparalleled expertise in diamond mining, distribution, and marketing, alongside CTF, one of the most influential jewellery retailers in China, creates a powerful alliance that is uniquely positioned to capture the hearts of Chinese buyers. Together, they bring an unmatched combination of heritage, innovation, and market insight to this campaign, setting the stage for what promises to be a highly successful initiative.

The campaign was unveiled during a recent meeting in Mumbai, where industry leaders acknowledged the challenges the diamond market has faced, particularly since the COVID-19 pandemic. With many Chinese consumers having shifted their focus to gold during the pandemic, the demand for diamonds suffered a noticeable decline. This joint effort by De Beers and CTF is designed to reverse that trend, restoring confidence in natural diamonds and re-establishing them as a symbol of luxury and enduring value in China.

Vipul Shah, chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), highlighted the importance of this partnership, stating, "We have planned a big campaign in China along with Chow Tai Fook and De Beers." The campaign is set to kick off following the final strategy session at the Hong Kong Jewellery Show in September, with the goal of reigniting the passion for diamonds among Chinese consumers.

This collaboration comes at a crucial time for the diamond industry, which is facing stagnant demand despite stable supplies of rough diamonds. The De Beers-CTF partnership is a bold response to these challenges, offering a fresh and dynamic approach to re-engaging the Chinese market.

Moreover, the success of this campaign is expected to have a ripple effect, with similar marketing efforts being planned for the Indian market, where demand for diamonds has shown promising growth over the past year. By strengthening domestic demand and boosting confidence in natural diamonds, this joint venture between De Beers and CTF is set to play a pivotal role in revitalizing the global diamond market.