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SourcingJan 20, 2017
Report: DPA Wants Miners to Put in 10X More Money
That’s what Bloomberg said this week in a report that the Diamond Producers Association would neither confirm nor deny.
A screenshot from “Wild & Kind,” one of the two commercials the Diamond Producers Association used to launch its “Real is Rare” campaign promoting diamonds. The DPA is reportedly going to ask the mining companies that support it for more money.
New York--Bloomberg reported this week that the Diamond Producers Association will ask the mining companies that support it for a tenfold increase in funding, a report that the DPA would neither confirm nor deny.
Citing an anonymous source who is familiar with the plans, Bloomberg reported Wednesday that the DPA will ask the miners to increase its annual budget from $6 million to as much as $60 million.
DPA CEO Jean-Marc Lieberherr declined to comment on the accuracy of the Bloomberg report when asked about it via email on Thursday, saying only that “The introduction of the DPA’s campaign ‘Real is Rare’ in 2016 has been very successful and as a result members are discussing an expansion of programs in 2017. It is too early to discuss any further detail regarding budgets and activities.”
The Diamond Producers Association is the organization that the world’s diamond miners, including major players like De Beers and Alrosa, formed in 2015 in order to shore up demand for diamonds--mined, not lab-grown diamonds in particular--and create an advertising campaign to fill the void left by De Beers’ lack of generic advertising.
In October 2016, the DPA screened the first two commercials in the campaign, “Wild & Kind” and “Runaways,” at an event in New York.
The launch of the campaign has been met with mixed reviews both in the trade and among consumers.
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