The Pure Diamond Council (NDC), which teams the world’s seven main diamond producers, has inked a deal with China’s prime jewelry retailer Chow Tai Fook to spice up demand for mined rocks within the Asian market.
The partnership, the commerce group’s first collaboration with a retailer, seeks to draw younger Chinese language prospects to naturally produced diamonds.
It additionally comes as Chow Tai Fook, which has greater than 4,500 shops in East Asia and the US, plans to increase its world footprint.
“Considered one of our key priorities this 12 months is to work intently with pure diamond retailers to guard and convey the genuine and distinctive great thing about pure diamonds collectively,” David Kellie, CEO of the Pure Diamond Council, said in the statement.
“I’m assured that this partnership will solidify the values of and forge shoppers’ need for pure diamonds,” Chan Sai-Cheong, managing director (Mainland China) of Chow Tai Fook Jewelry Group added.
Earlier this month, the world’s greatest jeweller Pandora dealt a blow to diamond miners by announcing it would no longer sell mined gems, however solely man-made ones.
Since 2011, when costs peaked thanks to China’s younger shoppers, diamonds have faltered. Lab-grown stones, initially priced confusingly near the true factor, posed a problem.
The NDC, till 2020 referred to as the Diamond Producers Affiliation, focuses on advertising and marketing mined rocks and its funded by its members: ALROSA, De Beers, Dominion Diamonds, Lucara Diamond, Petra Diamonds, Rio Tinto and RZM Murowa.
