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GJEPC Calls for DPA Budget Hike to $100M

More marketing funding necessary to make impact on global market, group says.
Jul 27, 2017 5:35 AM   By David Brough
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The Diamond Producers Association (DPA) needs to boost its international marketing budget sharply next year, Praveenshankar Pandya, head of India’s Gem & Jewellery Export Promotion Council (GJEPC), said.

“We [the industry] need at least $100 million next year to make an impact on the world market,” Pandya said at the inauguration ceremony of the India International Jewellery Show (IIJS) on Thursday.

He said the GJEPC, India’s jewelry-industry umbrella organization, had signed a memorandum of understanding with the DPA this week to support the miner-backed group’s international diamond-jewelry promotion efforts for its “Real is Rare” campaign this year.

“We have given them $2 million to be spent on international promotion this year,” Pandya noted at the newly rebranded “IIJS Premiere” show, which runs until July 31. “We will continue to do this in future years.”

According to Jean-Marc Lieberherr, CEO of the DPA, who spoke at the opening ceremony, the organization’s budget “has increased tenfold over the past year, and the GJEPC has increased its support tenfold.”

The DPA has a budget of at least $57 million this year and plans to roll out a campaign in India, including TV and digital advertisements, from October 2017.

Lieberherr said the DPA had commissioned films that were currently being prepared in India as part of the campaign.

He added that the campaign in India would target the local market and would focus on the custom of arranged marriages.

Lieberherr addressed a dinner on the eve of the opening of the IIJS Premiere show at which he spoke of DPA’s commitment to promotion of diamond-jewelry sales in India.

He spoke of plans to set up DPA liaison offices in India and China. DPA plans to roll out its promotion of diamond jewelry in China from April 2018.

Pandya said that the DPA campaign would make a big difference to boosting the generic marketing of diamonds, and spoke of a void since De Beers wound up its efforts in this area.

“A whole generation over 10 years, the millennials, have not seen advertising on diamonds,” Pandya said. “We had complete stagnation, and for 10 years we did not see significant growth in the industry.”

Image: GJEPC
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Tags: China, David Brough, De Beers, Diamond Producers Association, Dpa, Gem and Jewellery Export Council, generic marketing, GJEPC, IIJS, IIJS Premiere, India, India International Jewellery Show, Jean-Marc Lieberherr, marketing, Praveenshankar Pandya, Real is Rare
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