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SourcingJun 21, 2015
CanadaMark looks to make its mark in the US
After resurrecting the hallmark program last year, Dominion Diamond Corp. launched a consumer marketing campaign to support the stones and, now, an online trading platform.
During this year’s JCK Las Vegas show, Dominion Diamond Corp. launched an online trading platform for CanadaMark diamonds, the hallmark program it inherited from BHP Billiton.
Las Vegas--Dominion Diamond Corp. has taken the next step in its revitalization of CanadaMark, the hallmark program that provides independent verification that a diamond was mined in Canada, by launching an online trading platform for the stones this year in Las Vegas.
The platform, which lives on CanadaMark.com/Exchange, is accessible to diamond retailers, wholesalers and the program’s 15 manufacturers, all of which are listed on CanadaMark.com.
Diamonds on the exchange have grading reports from either the Gemological Institute of America, HRD Antwerp or the International Gemological Institute and are, at minimum, M color and I2 clarity. Fancy colors are allowed, but no brown hues.
The return of CanadaMark, a program Dominion inherited from BHP Billiton when it bought the Ekati Diamond Mine, marks the continuation of a trend in the industry, as manufacturers and mining companies continue to stress their diamonds’ origin as a way of appealing to consumers, particularly younger ones.
Think: De Beers’ Forevermark program, which centers on the stones’ traceability, and Rio Tinto’s “Diamonds with a Story,” which focuses on telling the positive stories behind the stones.
Dominion Diamond announced it was revitalizing the CanadaMark at the JCK Las Vegas show in 2014.
After making the announcement, Dominion’s retail clients expressed a need for more consumer-end marketing.
So at the beginning of 2015, Dominion started a marketing campaign targeted at the market everyone in the jewelry industry is vying to reach: the millennials.
Jim Pounds, an executive vice president with Dominion Diamond, said in an interview at this year’s JCK show that CanadaMark is a program that has appeal for the younger consumers because of its story of social and economic stewardship as well as ecological responsibility.
“That has great resonance with the millennials,” he said.
The campaign focuses on digital marketing, including social media, and Dominion Marketing Manager Frederik Degryse said the company is working with a market research agency to see how levels of consumer awareness about CanadaMark are changing.
In addition, Dominion Diamond is providing retailers with more promotional materials for the stones.
Though the company would not share the exact number of jewelers involved in the program, Degryse said the majority of their retailers right now are based in Canada, though they are hoping to change that.
He said Dominion Diamond is targeting both chain stores and independents in the United States, noting that they “definitely
see room to grow in this market.”
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