SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
SourcingJun 03, 2015
Diamond producers pool their resources
The world’s largest diamond mining companies have formed an association to buoy demand for mined diamonds, but won’t be doing generic marketing on the scale that De Beers once did.
Las Vegas--The world’s largest diamond mining companies have formed an association to buoy demand among consumers, particularly millennials, for mined diamonds.
Called the Diamond Producers Association (DPA), the organization rose “from the ashes” of the International Diamond Board, the industry’s last attempt at pooling resources to create a generic marketing campaign for diamonds.
However, its focus is more targeted--and its budget is too small--for a generic marketing campaign on the scale of what De Beers used to do in halcyon days gone by.
Alrosa, De Beers, Rio Tinto and four smaller mining companies--Dominion Diamond Corp., Lucara Diamond Corp., Gem Diamonds and Petra Diamonds--are the seven founding members of the association and have pledged a combined total of $18 million over the next three years to start its functions, with the larger mining companies paying in more.
That is much less than the hundreds of millions of dollars De Beers used to pour into its advertising campaigns each year.
“Everyone’s asked about generic marketing and we put it out there, the first budget we are aiming at is around $6 million (a year), and I wish anybody luck trying to do generic marketing for $6 million,” Jim Pounds, an executive vice president with Dominion, said in an interview with National Jeweler at JCK Las Vegas.
“What the focus of the DPA … will be (is) to maintain the desire for diamonds, and I think that’s very important … the young millennial generation, the next round of people going out to buy diamonds, we want them to have a desire for natural diamonds and to maintain that.”
In other words: the companies that mine diamonds want to protect their product as the interest in, and quantity of, lab-grown gem-quality diamonds increases.
Pounds said they also want to protect consumer confidence in diamonds, which have been hit with a number of disclosure scandals as of late.
There have been several discoveries of undisclosed lab-grown diamonds--including the 145 man-made diamonds submitted to IGI in Antwerp as natural stones a few years back--and the recent issue with the undisclosed, and still undefined, color treatment discovered by the Gemological Institute of America in Israel.
“No,” Pounds answered quickly when asked if he sees non-disclosure as an issue. “But there are isolated cases that you read in the press. We don’t see as a problem. But … we don’t want it to become a problem.”
Editors' Picks
Sponsored by
Proper disclosure, he added, is an issue that concerns the entire jewelry industry. “You’ve got to be sure that whether you’re buying gold … and when you’re buying a diamond, it is what it says on the certificate or what the jeweler sells it to you as.”
While more specifics will come later in the year after the DPA hires an executive director, the press release announcing its formation lists maintaining and enhancing consumer demand for and confidence in diamonds, providing a reliable source of trade and consumer research, and acting as the unified voice of the diamond producers among its mandates.
The association also seems open to collaboration with other industry organizations. Forevermark CEO Stephen Lussier said at the Rapaport breakfast held Sunday in Las Vegas that the DPA is not going to do generic marketing on its own but will collaborate with others, and that “idea leadership” is needed.
The DPA will be incorporated in London but based in New York and will operate in compliance with all applicable competition and antitrust laws.
Pounds said they aim to have selected an executive director, which will be a full-time, salaried position, by the third quarter.
More on Sourcing
The Latest
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
